IRETP Investors Real Estate Trust - Series A Cumulative Redeemable Preferred Shares of Beneficial Interest (MM)

Investors Real Estate Trust (Nasdaq:IRET) (Nasdaq:IRETP) ("IRET" or the "Company"), today reported its financial and operating results for the three months ended January 31, 2012.

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 Tuesday, March 13, 2012 at 9:00 a.m. Central Daylight Savings Time to discuss these results. Conference Call access information is as follows:

USA Toll Free Number: 1-877-317-6789

International Toll Free Number: 1-412-317-6789

Canada Toll Free Number: 1-866-605-3852

Company management will take questions during the conference call, following prepared remarks. The call will be limited to one hour, including questions and answers. A webcast and transcript of the call will be archived on the "Investors/Presentations & Events" page of IRET's website, http://www.iret.com for one year. Questions regarding the conference call should be directed to IRET's Investor Relations at landerson@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 additional offices in Minneapolis, Minnesota and Omaha, Nebraska.

CONTACT: Lindsey Knoop Anderson
         Director of Investor Relations
         1400 31st Ave SW Suite 60
         PO Box 1988
         Minot, North Dakota 58702-1988
         phone: 701.837.4738
         fax: 701.838.7785
         email: landerson@iret.com