INVESTORS REAL ESTATE TRUST ANNOUNCES THE RELOCATION OF THE IRET CORPORATE OFFICE AND RECENT ACQUISITION AND DISPOSITION ACTIVITY

MINOT, ND – August 2, 2011 – Investors Real Estate Trust (NASDAQ:IRET) (NASDAQ: IRETP), announces its corporate headquarters in Minot, North Dakota has relocated to 1400 31st Ave SW, Suite 60, PO Box 1988, Minot, ND 58702-1988.

This move follows the previously-announced lease by Hess Corporation of approximately 48,500 square feet in the former IRET headquarters building, IRET Corporate Plaza (now renamed “Plaza 16”) at 3015 16th St SW, Minot, ND 58701.

IRET occupies approximately 22,600 square feet in its new corporate office building, with the remainder of the space occupied by Badlands Grill House & Saloon, and Space Aliens Grill & Bar. Both restaurants are owned and operated by Minot, ND based FMI.

Separately, IRET also announces its acquisition of Regency Park Apartments in St. Cloud, MN for $10.9 million. This residential property was built in 1994, is located on approximately 10.5 acres, and adds 147 units to the multi-family portfolio. The purchase price includes the assumption by IRET of existing debt on the property.

IRET has also completed the sale of its Livingston Pamida property in Livingston, MT. The sale price was $2.175 million, out of which IRET paid off the existing mortgage with American Equity in the amount of $1.183 million.

About Investors Real Estate Trust

Investors Real Estate Trust is an 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. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis, Minnesota and Omaha, Nebraska.

Safe Harbor

Statements about IRET’s future expectations and all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company’s actual results could differ materially from expected results.

Investors Real Estate Trust Announces Recent Lease Transactions

Company Release – 10/25/2010 09:00

MINOT, N.D., Oct. 25, 2010 (GLOBE NEWSWIRE) — Investors Real Estate Trust (“IRET”) (Nasdaq:IRET) (Nasdaq:IRETP) announced today that Hess Corporation (NYSE:HES) and Trinity Health have signed long-term leases with IRET’s operating partnership, IRET Properties, to occupy commercial space at IRET Corporate Plaza located at 3015 16th Street SW in Minot, North Dakota.  Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. Hess discovered oil in North Dakota in 1951 and is the third-largest oil producer and largest gas producer in the state. Hess operates the Tioga Gas Plant and has additional operations in Williston as well as other communities throughout western North Dakota. Hess will occupy approximately 48,500 square feet of office space at IRET Corporate Plaza and has the option to lease additional space as it becomes available. Subject to scheduling and the completion of certain improvements, Hess is expected to begin occupying the space in stages starting early in 2011. IRET’s Senior Vice President and Chief Operating Officer, Tom Wentz, commented, “This is a very exciting real estate transaction not only for IRET, but also the community of Minot and Hess. We are very pleased with the outcome and how IRET’s decision approximately four years ago to develop IRET Corporate Plaza in Minot has not only grown the City’s property tax base but has provided Minot with the type of office space necessary to allow an international energy company such as Hess to locate a significant number of jobs into our community.”