Directorate change

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

Resignation of Director

The Board of REI announces the resignation of Mr Malcolm Lewin, Finance
Director, with immediate effect. The Company is still to complete the process
of appointing a new Finance Director however, in the interim, Mr Marcus Daly
will assume the role of Finance Director.

Mr Lewin intends to pursue his other business and personal interests.  The Board
wishes him every success for his future plans and would also like to thank him
for his contribution to the development of REI since its incorporation.


11 September 2006