Holding(s) in Company

TR-1 NOTIFICATION OF MAJOR INTERESTS IN SHARES

(1) Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

REAL ESTATE INVESTORS PLC

(2) Reason for the notification (please state Yes/No):

An acquisition or disposal of voting rights (YES)

An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: (NO)

An event changing the breakdown of voting rights: (NO)

Other (please specify): (NO)

(3) Full name of person(s) subject to the notification obligation:

ROYAL BANK OF SCOTLAND AS TRUSTEES OF THE 33 KING WILLIAM STREET GROWTH AND
RECOVERY FUND

(4) Full name of shareholder(s) (if different from (3)):

(5) Date of the transaction and date on which the threshold is crossed or
reached (if different):

22 JUNE 2007

(6) Date on which issuer notified:

25 JUNE 2007

(7) Threshold that is crossed or reached:

GONE BELOW 3 PER CENT.

(8) Notified details:

A: Voting rights attached to shares

Class/type     Situation previous to   Resulting situation after the
of shares      the triggering          the triggering transaction
using          transaction
the ISIN       Number       Number     Number        Number of          % of
code               of           of         of           Voting        voting
               Shares       Voting     Shares           Rights        rights
                            Rights
                                       Direct       Direct Indirect  Direct Indirect

ORDINARY   11,990,000   11,990,000    8,990,000    8,990,000    N/A   2.63%      N/A
SHARES
GB00B014B855

B: Financial instruments

N/A

Total (A+B)

Number of voting rights       % of voting rights
8,990,000                     2.63%


(9) Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

N/A

Proxy Voting:

(10) Name of the proxy holder:

 N/A

(11) Number of voting rights proxy holder will cease/acquire to hold:

N/A

(12) Date on which proxy holder will cease/acquire to holding voting rights:

N/A

(13) Additional information:

(14) Contact name:

THOMAS HONE

(15) Contact number:

020 7743 2098