Power Efficiency Corporation’s Motor Efficiency  Controller using E-Save Technology™ Being Installed at Several Westfield Group  Properties in Southern California

The Westfield Group Supports Green Building Initiatives through Innovative Energy Savings Program for Escalators

January 28, 2008 - Las Vegas, NV – Power Efficiency Corporation (OTCBB: PEFF.OB), a green energy company focused on efficiency technologies for electric motors, announced today that The Westfield Group will implement an innovative energy savings program using Power Efficiency Corporation’s motor efficiency controllers using E-Save Technology™ designed for escalators.  The properties include Horton Plaza in San Diego, North County Mall in Escondido, Plaza Bonita in National City and Plaza Camino Real in Carlsbad.

The Westfield Group is the largest retail property group in the world by market capitalization and has interests in shopping centers in Australia, New Zealand, the United Kingdom and the United States. The Westfield Group has recognized electricity saving of 35% from Power Efficiency’s E-Save Technology™ at each of the properties included in this program.

“The energy savings from this product will benefit the Westfield Group and each of the communities by reducing carbon emissions and energy consumption. Together with Westfield and the support offered by local utility providers who have made available incentive financing, this program is attractive both economically and environmentally,” said Steve Strasser, Chairman and CEO of Power Efficiency. 

“We are very pleased the Westfield Group has chosen to join the growing list of companies electing to install Power Efficiency Corporation’s E-Save Technology™ as part of their energy savings,” said Strasser. “The Westfield Group is an excellent example of how commercial retail business can immediately implement proven, cost effective energy saving technologies that positively impact their customers.”
 
The Westfield Group (ASX: WDC) is an Australian-based company with interests in 120 shopping centers in Australia, New Zealand, the United Kingdom and the United States.  In the U.S., the Group has a portfolio of 57 shopping centers that are home to more than 9,000 specialty stores and comprise approximately 63 million square feet of leasable space in California, Connecticut, Florida, Illinois, Indiana, Maryland, Missouri, Nebraska, New Jersey, New York, North Carolina, Ohio and Washington.  

About Power Efficiency Corporation
Power Efficiency Corporation is a green energy company focused on efficiency technologies for electric motors.  Power Efficiency is incorporated in Delaware and is headquartered in Las Vegas, Nevada.  The Company has developed a patented and patent-pending technology platform, called E-Save Technology™, which has been demonstrated in independent testing to improve the efficiency of electric motors by 15-35% in appropriate applications. Electric motors consume over 25% of the electricity in the U.S. and many operate inefficiently.  E-Save Technology™ can be licensed to motor, controls and equipment manufacturers. Power Efficiency’s first product based on E-Save Technology ™ is a Motor Efficiency Controller for applications such as escalators, crushers, granulators, mixers, saws, and MG elevators. Power Efficiency is also developing a new product based on E-Save Technology™ for the tens of millions of small motors found in applications such as residential air conditioning, pool pumps, and clothes dryers. The company is working with manufacturers to incorporate this technology directly into new motors and appliances. For more information go to www.powerefficiency.com.

Contact:
B.J. Lackland, CFO, (702) 697-0377