Refinancing

23 April 2009

                            Real Estate Investors plc
                            ("REI" or the "Company")

                               York House Finance

Real  Estate  Investors  plc.  (AIM : RLE), the  West  Midlands  based  property
company,  is  pleased to announce £2.3 million in loan finance  secured  against
York House, Birmingham City Centre which was acquired in September 2008.

The financing  has been arranged with Svenska Handelsbanken AB ("Handelsbanken")
at 2.95% above LIBOR.  Handelsbanken is one of the largest banking operations in
the Nordic region and has been active in the UK market since 2000.

Paul Bassi, Chief Executive, commented:
"We  are  again  pleased  to  have secured this  finance  against  some  of  our
unencumbered  properties and this additional capital will provide added resource
for capitalising on commercial property opportunities that are readily available
in the market place".

End

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 25 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.  In
   January 2008, it raised a further £20 million through refinancing its portfolio.
   As at 30 June 2008, its portfolio and inventories were valued at £49 million
5. Further information on REI can be found at www. reiplc.com