Disposal

9 May 2005 12:56

Real Estate Investors PLC09 May 2005 Real Estate Investors PLC ("REI" or "the Company") Disposal REI the commercial property investment company, announces that on 27 April theCompany exchanged conditional contracts to dispose of its leasehold interest inan A3 leisure investment in London SW11, which is currently let to Pelican GroupPlc trading as Cafe Rouge. The disposal is expected to be completed in earlyJune. The property, acquired by REI at the time of its flotation in June 2004, hasbeen sold for £1,190,000, payable in cash on completion, a surplus overacquisition price and book cost. The disposal will release approximately £345,000 of net cash, which will beutilised in REI's active acquisition programme. Further information: Peter Lewin / Malcolm Lewin 01923 776633Real Estate Investors plc Christopher Joll/John Evans 020 7491 7776MJ2 Ltd This information is provided by RNS The company news service from the London Stock Exchange