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:

CALEDONIA INVESTMENT PLC

(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 January 2008

(6) Date on which issuer notified:

22 January 2008

(7 ) Threshold that is crossed or reached:

19%

(8) Notified details:

A: Voting rights attached to shares
Class/type   Situation
of           previous to the
shares       Triggering          Resulting situation after the
             transaction             triggering transaction


using the               Number of
             Number of  Voting      Number of  Number of Voting
ISIN code    Shares     Rights      Shares     Rights             % of voting rights
                                    Direct     Direct    Indirect Direct  Indirect

ORDINARY     62,195,000 62,195,000  65,165,000 65,165,000  N/A    19.13%  N/A
SHARES
GB00B014B855



B: Financial instruments
Resulting situation after the triggering transaction
Type of          Expiration  Exercise /  Number of     % of voting
Financial        Date        Conversion  voting        rights
Instrument                   Period /    rights
                             Date        that may be
                                         acquired is
                                         the
                                         instrument
                                         is
                                         exercised /
                                         converted

N/A

Total (A+B)
Number of voting rights       % of voting rights
65,165,000                    19.13%


(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 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:

MS JAY MUNIAN

(15) Contact number:

0207 802 8080