23 January 2009

Real Estate Investors PLC ("REI" or "the Company")

Director's Dealing

REI  was  notified on 21 January 2009 that on 19 January 2009, Bond Wolfe Assets
Limited ("Bond  Wolfe") pledged part of its portfolio of shares in which it has
invested ("the  Portfolio")  as  security to Allied Irish Bank as  part  of  its
banking facilities.  The Portfolio includes 82,399,493 ordinary shares of 1p each
in REI ("Ordinary Shares"), representing 24.18 per cent. of the issued share capital
of the Company, which is Paul Bassi's total beneficial interest in REI. Mr Bassi, a
director of REI, is sole shareholder of Bond Wolfe.

No  other director of the Company has granted security over or entered into  any
financial instruments relating to any of their holdings of Ordinary Shares.

For further information please contact:

Real Estate Investors PLC                                0121 524 1174
Paul Bassi, Chief Executive

Smith & Williamson Corporate Finance                     020 7131 4000
Limited
Azhic Basirov
Siobhan Sergeant