TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the       Real Estate Investors
underlying issuer of existing shares   plc
to which voting rights are attached:


2. Reason for notification (yes/no)
                                                       Yes
An acquisition or disposal of voting rights

An acquisition or disposal of financial instruments
which may result in the acquisition of shares already
issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify):______________

3. Full name of person(s)        Caledonia Investments plc
subject to notification
obligation:

4. Full name of shareholder(s)
(if different from 3):

5. Date of transaction (and      3 November 2008
date on which the threshold is
crossed or reached if
different):

6. Date on which issuer          3 November 2008
notified:

7. Threshold(s) that is/are      20%
crossed or reached:


8: Notified Details
A: Voting rights attached to shares

Class/type   Situation previous      Resulting situation after the triggering
of shares    to the triggering       transaction
If possible  transaction
use ISIN
code
             Number    Number        Number      Number of voting Percentage of
             of        of            of          rights           voting rights
             shares    voting        shares
                       rights

                                                 Direct   Indirect  Direct  Indirect

GB00B014B855 66,315,000 66,315,000  70,315,000  70,315,000                   20.64
Ordinary 1p
shares




B: Financial Instruments

Resulting situation after the triggering transaction

Type of     Expiration  Exercise/   No. of voting   Percentage
financial   date        conversion  rights that     of voting
instrument             period/date  may be          rights
                                    acquired (if
                                    the
                                    instrument
                                    exercised/con
                                    verted)




Total (A+B)

Number of voting rights         Percentage of voting rights
70,315,000                      20.64%



9. Chain of controlled undertakings through which the voting
rights and /or the financial instruments are effectively held,
if applicable:


Proxy Voting:

10. Name of proxy holder:

11. Number of voting rights
proxy holder will cease to
hold:

12. Date on which proxy holder
will cease to hold voting
rights:


13. Additional information:     None

14 Contact name:                Krista Burwood

15. Contact telephone name:     0207 802 8080