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)                            Aviva plc & its subsidiaries
subject to notification
obligation:

4. Full name of shareholder(s)                       Registered Holder:
(if different from 3):
                                                     BNY Norwich Union Nominees
                                                     Limited - 1,896,100*

                                                     Chase GA Group Nominees
                                                     Limited - 6,320,860*

                                                     CUIM Nominee Limited -
                                                     1,158,540*

                                                     * denotes direct interest

5. Date of transaction (and                          3 December 2008
date on which the threshold is
crossed or reached if
different):

6. Date on which issuer                              4 December 2008
notified:

7. Threshold(s) that is/are                          3% to 2% change at Direct
crossed or reached:                                  Interest Level
8: Notified Details
A: Voting rights attached to shares

Class/typ Situation       Resulting situation after the
e 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     Direct     Indirect   Direct  Indirect

Ordinary
shares        12,000,000  12,000,000  9,375,500  9,375,500  Nil         2.75%  Nil
GB00B014B855

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

9,375,500                                          2.75%

9. Chain of controlled undertakings through which the voting
rights and /or the financial instruments are effectively held,
if applicable:
The voting rights are managed and controlled by Aviva
Investors Global Services Limited, with the following chain of
controlled undertakings:-

Aviva Investors Global Services Limited:

·    Aviva plc (Parent Company)
·    Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc)
·    Aviva Investors Holdings Limited (wholly owned subsidiary of Aviva Group
     Holdings Limited)
·    Aviva Investors Global Services Limited (wholly owned subsidiary of
     Aviva Investors Holdings Limited)

Proxy Voting:

10. Name of proxy holder:                      See Section 4

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:
                                               Figures are based on a total
                                               number of voting rights of
                                               340,714,327.

14 Contact name:                               Neil Whittaker

15. Contact telephone name:
                                               01603 684420