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

Investors Real Estate Trust (Nasdaq:IRET) (Nasdaq:IRETP) announced today that its Board of Trustees has declared a regular quarterly distribution of 13.00 cents per share/unit payable on July 2, 2012 to common shareholders and unitholders of record at the close of business on June 15, 2012. The distribution reinvestment price will be the volume-weighted average NASDAQ share price on July 2, 2012, less a discount of 5%. The Company has filed a registration statement with the Securities and Exchange Commission to register the number of common shares necessary to meet distribution reinvestment elections.

This 13.00 cents per common share/unit distribution represents the 165th consecutive quarterly distribution paid by IRET since its inception in 1970. The previous regular quarterly distribution, also 13.00 cents per common share/unit, was paid April 2, 2012.

Investors Real Estate Trust's Board of Trustees also declared today a distribution of 51.5625 cents per share on the Company's Series A Cumulative Redeemable Preferred Shares (Nasdaq:IRETP). This distribution will be payable July 2, 2012 to Series A preferred shareholders of record on June 15, 2012.

Additionally, IRET today announced that the company will participate in REITWeek in New York City. REITWeek is a National Association of Real Estate Investment Trusts (NAREIT) Investor Forum. IRET's President and CEO Timothy Mihalick will present an overview of IRET followed by a question and answer session on Wednesday, June 13 at 4:30 p.m. Eastern Time at the Hilton New York. The presentation will be audio-webcast and may be accessed through the company's website. The presentation will be archived and available for 90 days.

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. 

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

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