Acquisition

Real Estate Investors PLC
22 November 2004


Real Estate Investors PLC

("REI" or the "Company")

Acquisition of commercial property trading company

REI, the fast expanding commercial property investment company which floated on
AIM in June 2004, announces that on 19 November 2004 it exchanged conditional
contracts to acquire thirteen retail and A3 leisure trading properties, for a
total consideration of £9,000,000.

The entire ordinary share capital of 3147398 Limited (formerly known as Bacchus
Estates Limited) has been purchased from the founder shareholders of Van De Berg
& Co, Surveyors. The company's portfolio is based mainly in the South of England
and is entirely let on long leases, to strong tenant covenants, at a total
rental income of £650,000 per annum. The tenants include Done Bros., Pizza
Express and SLB Holdings Limited. The portfolio of properties held by 3147398
Limited was reflected in its accounts as at 30 September 2003 at £7.2 million.
However, following a year of trading and a revaluation of the properties, REI's
directors estimate that the current value of the portfolio of properties to be
acquired is approximately £9.5 million.

The consideration will be financed through the assumption of Bacchus Estates'
existing debt, cash from REI's own resources and the issue, to the vendors, of
5,853,658 new ordinary shares in REI at a price of 10.25p per share.

Commenting on the acquisition, Peter Lewin CEO of REI said "This significant
corporate deal has further established the solid platform for REI, envisaged at
the time of our flotation in June. Following the Company's recent acquisition in
Coventry, the purchase of these quality properties offers important trading
opportunities for REI, in the medium term, and clearly demonstrates how the
Company's acquisition strategy can be applied in today's competitive property
market.

Further corporate acquisition opportunities are currently under active
consideration."

Further information:

Peter Lewin - CEO                                                 01923 776633
Malcolm Lewin - FD
Real Estate Investors PLC

Christopher Joll                                                 020 7491 7776
mj2 ltd

22 November 2004



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