Holding(s) in Company

TR-1: Notifications of Major Interests in Shares


1. Identity of the issuer or the                       Real Estate Investors plc
underlying issuer of existing shares
to which voting rights are attached:

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights            X

An acquisition or disposal of financial instruments
which may result in the acquisition of shares already
issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify)

3. Full name of person(s)                              Caledonia Investments plc
subject to notification
obligation:

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

5. Date of transaction (and                            26 November 2008
date on which the threshold is
crossed or reached if
different):

6. Date on which issuer                                27 November 2008
notified:

7. Threshold(s) that is/are                            21, 22 and 23%
crossed or reached:

8: Notified Details
A: Voting rights attached to shares

Class/    Situation       Resulting situation after the
type of   previous to     triggering transaction
shares    the triggering
If        transaction
possible
use ISIN
code
              Number       Number    Number     Number of          Percentage
              of           of        of         voting rights      of voting
              shares       voting    shares                        rights
                           rights
                                                Direct  Indirect  Direct Indirect


GB00B014B855 70,315,000 70,315,000  80,315,000 80,315,000          23.57%
Ordinary 1p
shares

B: Financial Instruments

Resulting situation after the triggering transaction

Type of     Expiration  Exercise/    No. of voting  Percentage
financial   date        conversion   rights that    of voting
instrument              period/date  may be         rights
                                     acquired (if
                                     the
                                     instrument
                                     exercised/con
                                     verted)


Total (A+B)

Number of voting rights        Percentage of voting rights

80,315,000                                 23.57%

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

Proxy Voting:

10. Name of proxy holder:

11. Number of voting rights
proxy holder will cease to
hold:

12. Date on which proxy holder
will cease to hold voting
rights:

13. Additional information:                            None

14 Contact name:                                       Krista Burwood

15. Contact telephone name:                            0207 802 8080