KEWL Keweenaw Land Association Limited (PK)

Ronald S. Gutstein, a private investor, announced today that he has submitted a notice to Keweenaw Land Association, Ltd., a Michigan corporation (KEWL) (the �Company�), of his intent to seek a board seat at the next annual meeting of shareholders, which is expected to be held in mid-June 2009. Mr. Gutstein received almost 25 percent of the votes cast in the 2008 proxy contest. �Our success in 2008 made it obvious that a significant number of shareholders feel unrepresented and dissatisfied with the current direction of our company, � says Mr. Gutstein. �It is important that we continue to build on the momentum and successes of last year�s campaign. As a reaction to our ideas, management announced at the annual meeting that they held their first-ever meeting with the Chicago Climate Exchange to explore the options of selling carbon credits. Furthermore, after having made mineral deposits a major issue in our contest, our company for the first time in 15 years leased the mineral rights to a group that is actively developing an application to begin mining. We believe that the ongoing �green revolution� will provide numerous possibilities for Keweenaw to create new income streams and we will be discussing more of these opportunities in future communications.� Mr. Gutstein intends to continue making corporate disclosure and corporate governance a major issue in this year�s proxy. �Although not discussed in management�s proxy statement, our questioning forced them to reveal several potential conflicts between board members and outside money managers such as Essex Street Advisors. Essex Street Advisors manages trusts for the benefit of our CEO�s family,� he says. �These undisclosed relationships call into question not only the independence of our board, but whose interests are being protected. In order to guarantee full and accurate disclosure in the future, we intend to seek SEC registration. Federal disclosure requirements are more stringent than those of the State of Michigan. Consequently, federal registration will increase transparency and allow shareholders a more accurate understanding of our company. Individuals can use the Direct Registration System to have their holdings in the company reflected in the corporate records. All shareholders deserve representation, and a full accounting of any relationships and ownership stakes that exist.� �It is important for us to keep voicing our concerns, and let management know that we are not going away. It appears as if the only time new initiatives are undertaken is when management feels pressure and concern from shareholders.� Those interested in receiving updates can once again register at WWW.FREEKEWEENAW.COM. Ron Gutstein is a 1993 graduate of Colgate University. Mr. Gutstein was formerly the Director of Trading Operations of Investec Ernst & Company. In this position he also served on the companies management and credit committees. He currently heads the market-making operation of Access Securities, which provides execution services for institutional investors. This operation at Access Securities makes a market in the common stock of Keweenaw. Mr. Gutstein has recently been elected to serve as a Trustee for the publicly traded International Value Advisors family of mutual funds. Mr. Gutstein is making the proxy solicitation for Keweenaw Land Association, Ltd., as a private investor.