Notice of General Meeting and Acquisition

24 November 2008
                            Real Estate Investors plc
                            ("REI" or the "Company")

            Notice of General Meeting and Acquisition of Metro Court

Real Estate Investors plc (AIM: RLE), the West Midlands based property company,
is pleased to announce that on Friday, 21 November 2008, it exchanged
contracts to acquire Metro Court (WB) Limited ("Metro Court"), a special
purpose vehicle, whose principal asset is a three storey office block
located in West Bromwich town centre. The building has been recently renovated
and new leases negotiated.  As the Acquisition is a substantial property
transaction involving a director of the Company (Paul Bassi), pursuant to s190
of the Companies Act 2006, it requires the approval of Shareholders in General
Meeting and the Acquisition is conditional upon that approval. Paul Bassi will not
be able to vote on the resolution to approve the Acquisition.

REI has agreed, subject only to Shareholder approval, to acquire the entire
issued share capital of Metro Court for a total consideration of £675,000, paid
in cash. As part of the Acquisition, the Company will assume a term loan
facility of £2.5 million from Yorkshire Bank, relating to the property and will
procure the repayment by Metro Court of £500,000 of loans to the shareholders
(other than Paul Bassi).

The property held by Metro Court has been valued by an independent professional
valuer, Gerald Eve, at £4,100,000. Metro Court has recently completed a lease of
two floors to the Sandwell Mental Health NHS & Social Care Trust which provides
for rental income of £221,563 per annum.  The company is currently in advanced
negotiations on a lease for the third floor.  Following completion of the
Acquisition and assuming the property is fully let, REI will benefit from a
rental income rising to approximately £350,000 per annum.

The Acquisition Agreement contains warranties and a tax covenant in favour of
the Company. A copy of the Acquisition Agreement is available for inspection at
the offices of Smith & Williamson Corporate Finance Limited, 25 Moorgate, London
EC2R 6AY up to the time of the General Meeting and will be available at the
General Meeting.

The resolution seeking approval of the Acquisition is set out in the notice
convening the General Meeting to be held at the Company's offices at 8th Floor,
West Plaza, 144 High Street, West Bromwich, West Midlands B70 6JJ at 11:00am on
Wednesday, 10 December 2008.
Pursuant to AIM Rule 20, a copy of the circular, notice of General Meeting and
proxy form will be posted to shareholders and will shortly be made available on
the Company's web-site www.reiplc.com.
Defined terms used in this announcement have the meaning set out in the
circular.

Enquiries:
Real Estate Investors plc                    [phone]
Paul Bassi

Smith & Williamson Corporate Finance Limited [phone]
Azhic Basirov / Siobhan Sergeant

Notes to Editors

1. REI  is  an  AIM  listed  property  investment  and  development  company
   specialising in commercial property throughout the Midlands and Central England

2. REI  is  focused on delivering shareholder value through returns generated
   from  strong  yields and capital enhancements. This is achieved by  targeting
   investments in orphaned, distressed, part-let and underperforming  commercial
   property assets

3. REI's Board is led by respected property-entrepreneur Paul Bassi, who has
   over 23 years of property experience. Mr Bassi is also founder and chairman of
   Bond Wolfe Auctioneers, one of the UK's largest (top 50) property auction houses
   and estate agents, and chairman of Bigwood Chartered Surveyors

4. REI  was  admitted to trading on AIM in June 2004.  In December 2006,  REI
   successfully raised £25 million to aggressively grow its property portfolio, at
   that time, estimated to be worth approximately £28 million.  Paul Bassi is the
   largest shareholder in the Company

5. Further information on REI can be found at www. reiplc.com