MINOT, ND (NASDAQ: IRETP) announced that its Board of Trustees has scheduled the Company's 2008 Annual Meeting of Shareholders for Tuesday, September 16, 2008 at 7:00 p.m. CDT at the International Inn, 1505 North Broadway, Minot, North Dakota. The record date for determination of the common shareholders entitled to vote at the meeting has been set at the close of business on July 21, 2008.

About Investors Real Estate Trust

Investors Real Estate Trust is a self-advised equity real estate investment trust. Its business consists of owning and operating income-producing multi-family residential and commercial properties located primarily in the upper Midwest states of Minnesota and North Dakota. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis, MN and Omaha, NE.

CONTACT INFO Michelle R. Saari PO Box 1988 12 Main Street S Minot, North Dakota 58701 phone: 701.837.4738 fax: 701.838.7785 email: msaari@iret.com

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