Refurbishment of Cathedral Place

25 November 2008
                            Real Estate Investors plc
                            ("REI" or the "Company")

                        Refurbishment of Cathedral Place

Real  Estate Investors plc (AIM: RLE), the West Midlands based property company,
is  pleased  to  announce that it has completed the £1.5  million  refurbishment
programme at 42-44 Waterloo Street, Birmingham, known as Cathedral Place.

This boutique, grade II listed building has been refurbished to a high standard,
offering over 12,000 sq. ft. of offices over 6 floors and has been well received
by the city property community.

The  offices are located on the corner of Temple Row and Waterloo Street, at the
hub of the commercial and professional sector in Birmingham's city centre.

Commenting  on  the refurbishment programme, Paul Bassi, Chief Executive,  said,
"We  are  extremely pleased with the outcome of this project  and  have  already
secured  a 15 year letting to Caffé Nero on the ground floor, at an annual  rent
of  £68,000,  with  the  remaining offices generating a considerable  amount  of
interest."


Enquiries:
Real Estate Investors plc                         [phone]
Paul Bassi

Smith & Williamson Corporate Finance Limited      [phone]
Azhic Basirov / Siobhan Sergeant

Notes to Editors

1. REI  is  an  AIM  listed  property  investment  and  development  company
   specialising in commercial property throughout the Midlands and Central England
2. REI  is  focused on delivering shareholder value through returns generated
   from  strong  yields and capital enhancements. This is achieved by  targeting
   investments in orphaned, distressed, part-let and underperforming  commercial
   property assets
3. REI's Board is led by respected property-entrepreneur Paul Bassi, who has
   over 23 years of property experience. Mr Bassi is also founder and chairman of
   Bond Wolfe Auctioneers, one of the UK's largest (top 50) property auction houses
   and estate agents, and chairman of Bigwood Chartered Surveyors
4. REI  was  admitted to trading on AIM in June 2004.  In December 2006,  REI
   successfully raised £25 million to aggressively grow its property portfolio, at
   that time, estimated to be worth approximately £28 million.  Paul Bassi is the
   largest shareholder in the Company
5. Further information on REI can be found at www. reiplc.com