Director/PDMR Shareholding

23 October 2008

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

Directors' Dealings

REI  announces  that today, Paul Bassi and Marcus Daly, both  directors  of  the
Company,  purchased 7,000,000 and 3,000,000 ordinary shares of 1p  each  in  the
Company ("Ordinary Shares"), respectively, at a price of 4.5p per share.

Mr  Bassi's  investment is through Bond Wolfe Assets Limited,  of  which  he  is
executive  chairman  and  sole  shareholder.  As  a  result,  Mr  Bassi's  total
beneficial   interest  in  the  Company  is  now  82,399,493   Ordinary   Shares
representing 24.18 per cent. of the issued share capital of REI.

Mr  Daly's  total  beneficial interest in the Company is now 6,850,000  Ordinary
Shares representing 2.01 per cent. of the issued share capital of REI.

At  the  time  of their appointment as directors of the Company,  the  Panel  on
Takeovers  and Mergers ("the Panel") deemed Messrs Bassi and Daly to be  members
of  a  concert party with certain other individuals who invested in REI  at  the
same  time ("the Concert Party").  Following the above transactions, the Concert
Party has an aggregate interest in REI of 28.76 per cent.

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