REI Regulatory News (RLE)

29 June 2010

Real Estate Investors plc

("REI" or "the Company" or "the Group")

BOARD CHANGES

Real Estate Investors (AIM:RLE), the West Midlands based property group, announces the appointment of John Crabtree OBE, DL, D.Univ, as non executive Chairman and William Wyatt as non executive director of the Board, both with effect from 28 June 2010. Mr Crabtree replaces Peter Lewin who is standing down as Chairman, but will remain on the Board as a non executive director.

John Rawcliffe Airey Crabtree OBE (aged 60) has a very wide variety of business, community and charitable interests, predominantly in the West Midlands. Until 2003, he was senior partner of Wragge & Co, the leading Birmingham based national firm of solicitors and, until recently, he was Chairman of both Metalrax Group plc and Claimar Care Group plc. He is currently Chairman of SLR Management Limited, TruckEast, Birmingham Hippodrome Theatre Trust and the charity, Sense. He is also senior independent director of Staffline Holdings plc and a director of Advantage West Midlands (the regional development authority). He is a former President of Birmingham Chamber of Commerce & Industry, was High Sheriff of the West Midlands and is currently Deputy Lieutenant.

In 2003, he was awarded UK's 'Lawyer of the Year' and Birmingham Law Society's 'Lifetime Achievement Award'.

William Penfold Wyatt (aged 41) is an executive director of Caledonia Investments Plc, the FTSE 250 listed Investment Trust which owns 28.17% of REI. He is due to take over as CEO of Caledonia in July this year. Mr Wyatt is a director of a number of listed businesses on behalf of Caledonia including Melrose Resources Plc, Avanti Communications Plc, Terrace Hill Plc and Bristow Group Inc.

JOHN CRABTREE

Current directorships / partnership held by John Crabtree are:

Airey Limited

Birmingham Hippodrome Limited

Birmingham Hippodrome Theatre Trust Limited

Cerebrum Partners Limited

Compare Professional Service Jobs Limited

DCI Group Limited

Investbx Holding Company Limited

Investbx Limited

Investbx Managed Services Limited

Investbx Promotions Limited

Opus Restaurant Limited

Resolve International Tax Limited

Sense, The National Deafblind and Rubella Association

SLR Holdings Limited

SLR Management Limited

Staffline Group plc

Staffline Recruitment Limited

WRFC Players Limited

WRFC Trading Limited

Mr Crabtree's directorships / partnerships held in the previous five years are:

Albecourt Developments Limited

Arden Manor Developments Limited

Birmingham Chamber of Commerce and Industry

Claimar Care Group plc

H&A Realisations Limited

H&A Wine and Spirits Group Limited

Metalrax Group plc

Warwick Racecourse Company Limited

John Crabtree was a non-executive director of H&A Wines & Spirit Group Limited, which went into administration on 24 April 2003. The directors' estimated deficiency as regards members and creditors as at 24 April 2003 was £2,829,473.

WILLIAM WYATT

Current directorships held by William Wyatt are:

Avanti Communications Group plc

Bristow Aviation Holdings Limited

Bristow Group Inc

Caledonia GP Distribution Limited

Caledonia Investments plc

Caledonia Land & Property Limited

Cobehold SA

Cobepa SA

Cobip SA

Crewkerne Investments Limited

Melrose Resources plc

Nova Capital Group Limited

Omniport Holdings Limited

St Lawrence Properties Limited*

Sterling Industries plc

T.C.L. Holdings Limited

Terrace Hill Group plc

TGE Marine AG

The Cayzer Trust Company Limited

The Dunchurch Lodge Stud Company

Urquhart Engineering Company Limited

Mr Wyatt's directorships held in the previous five years are:

Amber Industrial Holdings plc

Argo Flare Services Limited

Avanti Screenmedia Group plc (now Insetco plc)

Avondale (City) Limited

Bloom Engineering Company Inc

Caledonia Industrial & Services Limited

CIS Treasury Limited

Exactor Sterling Limited

FB Realisations Limited

GCD International Pty Limited

GLE HI - Tech Seals Limited

Heat Exchange Industries Limited

Huntley & Sparks Limited

Lakers Process Engineering Limited

May Acoustics Limited

Mori Group Limited

Quality Heat Technologies Limited

Seven Publishing Group Limited

Shalfleet Properties Limited

Sterling Hydraulics Limited

Sterling Process Engineering Limited

Sterling Thermal Technology Limited

The Amber Chemical Company Limited

Thermo Engineers Limited

* St Lawrence Properties Limited is a 100% owned subsidiary of Caledonia Investments plc and, following the wind down of its property related activities, a decision was taken to liquidate the company and return funds to shareholders. The company was placed in members voluntary liquidation in February 2008.

There is no further information to be disclosed in line with Schedule 2 paragraph (g) of the AIM Rules in respect of either director.

Enquiries:

Notes to Editors

1. REI is an AIM listed property investment company specialising in commercial property principally in the West 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 is led by respected property investor Paul Bassi CBE, who has over 25 years of property experience in the West Midlands. Mr Bassi is also founder and chairman of Bond Wolfe and chairman of Bigwood Chartered Surveyors

4. REI was admitted to trading on AIM in June 2004 and has subsequently raised a total of £35 million in further equity issues as well as debt financing to grow its property portfolio. As at 31 December 2009, its portfolio and inventories were valued at £55 million

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