Investors Real Estate Trust Reports Fourth Quarter 2009 Financial and Operating Results

MINOT, N.D., June 30, 2009 (GLOBE NEWSWIRE) -- Investors Real Estate Trust
(Nasdaq:IRET) (Nasdaq:IRETP) ("IRET" or the "Company"), today reported its
financial and operating results for the year and three months ended April 30,
2009.

A complete financial and operating results earnings release is accessible on the
main page of IRET's website at http://www.iret.com under the heading, "Recent
Financial News". This release is also available at the following web page:

http://www.snl.com/irweblinkx/docs.aspx?iid=107231

(Note: If clicking on the above links does not open up a new web page, you may
need to cut and paste the above urls into your browser's address bar.)

The Company will host a conference call on Thursday, July 2, 2009 at 9:00 a.m.
Central Daylight Time to discuss these results. 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 "INVESTORS/Presentation and Events"
page of IRET's website at http://www.iret.com, through Friday, July 17, 2009.

In order to use the limited conference call 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 msaari@iret.com, by
5:00 p.m. Central Daylight Time on Wednesday, July 1, 2009. During the question
and answer period, priority will be given to addressing questions submitted in
advance. 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 one hour, including questions and
answers.

Questions regarding the conference call should be directed to IRET's Investor
Relations at msaari@iret.com.

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 an additional office in Minneapolis,
Minnesota.

The Investors Real Estate Trust logo is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=5183

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CONTACT: Investors Real Estate Trust
Michelle R. Saari
701.837.4738
Fax: 701.838.7785
msaari@iret.com
3015 16th Street SW, Suite 100
PO Box 1988
Minot, North Dakota 58702-1988