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Press release from Business Wire

ISS Recommends That Western Wind Shareholders Vote FOR Savitr's Nominees

<p class='bwalignc'> <b>Believes Change at the Board is Needed For a More Credible Sales Process</b> </p> <p class='bwalignc'> <b>Highlights Significant Governance Concerns, Underperformance and Management's Questionable Decisions</b> </p> <p class='bwalignc'> <b>Savitr Urges Shareholders To Vote <span class='bwuline'>GREEN</span> Proxy <span class='bwuline'>FOR</span> All Independent Board Nominees</b> </p>

Thursday, September 13, 2012

ISS Recommends That Western Wind Shareholders Vote FOR Savitr's Nominees06:00 EDT Thursday, September 13, 2012 TORONTO (Business Wire) -- Savitr Capital, LLC (“Savitr”), a significant shareholder of Western Wind Energy Corp. (TSX Venture Exchange: WND) (OTCQX: WNDEF) (“Western Wind”), today announced that Institutional Shareholder Services Inc. (“ISS”), the leading proxy advisory firm with more than 1,700 institutional clients, issued a report recommending that shareholders of Western Wind vote FOR the election of all five of Savitr's nominees to Western Wind's Board of Directors (the “Savitr Nominees”) at the annual general meeting of shareholders to be held on September 25, 2012. In its conclusion ISS stated*: “Given that both sides agree a sales process is the next step for this company – and also that the dissidents, with a 4.4% stake, have a strong interest in maximizing the outcome of the sales process for all shareholders, and no other apparent motivations to run this contest, we believe that the dissident slate is better positioned to send this message to the market. Shareholder support FOR the dissident slate is therefore warranted.” “We are very pleased ISS recognizes that change is needed at Western Wind and recommends the election of our highly qualified director nominees,” said Andrew Midler, Managing Member of Savitr. “The current board has proven to be ineffective. The assets of the company are valuable and shareholders would be ill-served to put their faith in the current board to maximize value, a position supported by ISS. A new, independent board will have the strongest interest in maximizing value for all shareholders.” Other notable analysis from the ISS report includes*: “Given management's past track record at M&A – including a 2011 strategic review process which appeared to die on the vine, even with a motivated bidder on hand – and even taking into account the possible unintended consequences of a change of control at the board, we believe that change at the board level is necessary to go through a more credible sales process.”“In May 2012, the company announced a questionable and significantly dilutive acquisition, that was later withdrawn after negative shareholder response. Two months after this announcement the company was put up for sale. Which direction is the company going, growing through acquisitions or selling itself? It would seem that the management and board are not sure.”“[when] we analyze the company's performance over a 3-year period, the peer group has outperformed the company. While the return for the peer group is approximately 120%, Western Wind has lost approximately 20% over the same 3-year period. This is a 140 percentage point difference.”“We would argue that as long as the assets are valuable it is not as relevant who will be managing them, especially since the end result will be the sale of the company.”“The clear intention of the dissident slate, however, is to make sure that the sales process is credible since by the current board's actions in past M&A activities it is not entirely clear that will be the case, even though the board has stated that it is now willing to pursue a sale.”“The dissident has assembled a board that may back fill, on an interim basis, for the CEO. The dissidents have also pointed out that the organizational structure – Western Wind has outsourced many positions and has only 9 full time employees – further lessens the risk of unintended consequences through attrition.”“Jeff Ciachurski, CEO of Western Wind, is a member of the company's compensation committee and Michael Boyd, an EVP of Western Wind, is the Chairman of the board, creating a conflict of interest by reporting to the CEO whose performance he is, particularly as Chairman of the board, responsible for overseeing – and potentially, based on that performance, for hiring or firing a CEO. ISS has recommended withhold votes from these two directors in the past because both were members of the compensation committee.” Savitr urges its fellow shareholders to vote their GREEN form of proxy to elect Savitr's highly qualified nominees – C. Winston Bennett, Andrew R. Midler, George Smitherman, William (Bill) R. Tharp, and Rita Theil – to Western Wind's Board of Directors. The Savitr Nominees will ensure a credible sale process that will maximize shareholder value. Savitr encourages shareholders to carefully review its proxy circular and other materials and vote only their GREEN proxy by no later than September 20, 2012 at 5:00 p.m. (Vancouver Time), in advance of the proxy voting deadline. Voting Instructions: If you have any questions and/or need assistance in voting your shares, please call Kingsdale Shareholder Services at 1-866-229-8166 or 1-416-867-2272 (collect calls accepted). About Savitr Capital, LLC Savitr Capital is an Investment Manager that focuses on investing in renewable and clean energy companies. The firm has a socially responsible approach to investments with a goal of delivering superior risk adjusted return. These financial goals are coupled with a commitment to sustainability and a responsible stewardship by investing in companies poised for leadership in clean and renewable energy. Savitr is a signatory to the United Nations Principles for Responsible Investing (UNPRI) ( * Permission to quote from the ISS report was neither sought nor obtained. Sard Verbinnen & CoDan Gagnier, 212-687-8080