Investors Real Estate Trust Announces 3rd Quarter Fiscal 2008 Earnings Conference Call

MINOT, ND (NASDAQ: IRETS) (NASDAQ: IRETP) announced today its plans to begin hosting regular quarterly conference calls to discuss the Company's quarterly financial and operational results.

The first such call, to discuss 3rd quarter fiscal year 2008 earnings, is scheduled for Thursday, March 13, 2008 at 9:00 a.m. Central Standard Time. IRET's quarterly report on Form 10-Q will be filed on Tuesday, March 11, 2008. The Company will issue a press release at the close of business that day, summarizing the financial and operational results reported in more detail in its Form 10-Q, and providing certain additional supplemental operating and financial data.

During the conference call, IRET senior management will discuss the third quarter fiscal 2008 financial and operational results reported in the Form 10-Q and earnings press release, and will respond to questions from analysts, investors and the public. In order to use the limited time available more efficiently, the Company requests that questions be submitted in advance, via e-mail to the attention of the Company's Investor Relations Director at [e-mail], by 5:00 p.m. Central Standard Time on Wednesday, March 12, 2008. During the question and answer period, priority will be given to addressing questions submitted in advance. If time permits, Company management will also take questions on an interactive basis during the conference call, following the prepared remarks and response to written questions. The call will be limited to 45 minutes, including questions and answers.

Conference call access information is as follows:

USA Toll Free Number: 1-800-860-2442

International Toll Free Number: 1-412-858-4600

A replay of the call will be archived on the "Investor Relations/Upcoming Events and Presentations" page of IRET's website, http://www.iret.com, through Friday, March 28, 2008. Questions regarding the conference call should be directed to IRET Investor Relations at [e-mail].

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, Minnesota and Omaha, Nebraska.

CONTACT INFO Michelle R. Saari PO Box 1988 12 Main Street S Minot, North Dakota 58701 phone: [phone] fax: [phone] email: [e-mail]