CORRECTED: Investors Real Estate Trust Announces Pricing of the Public Offering of 5,750,000 Common Shares of Beneficial

CORRECTED: Investors Real Estate Trust Announces Pricing of the Public
Offering of 5,750,000 Common Shares of Beneficial Interest

MINOT, N.D., April 2, 2013 (GLOBE NEWSWIRE) -- Investors Real Estate Trust
(NYSE:IRET) (the "Company"), a self-advised real estate investment trust that
owns and operates multi-family residential properties and commercial office,
medical, industrial and retail properties located primarily in the upper
Midwest, today announced the pricing of its underwritten public offering of
5,750,000 common shares of beneficial interest, no par value per share (the
"Common Shares"), at a public offering price of $9.25 per share, for net
proceeds of approximately $50.9 million, after deducting the underwriting
discount and other estimated offering-related costs.

The offering is expected to close on April 5, 2013 and is subject to customary
closing conditions. The underwriters have a 30-day option to purchase up to an
additional 862,500 Common Shares to cover over-allotments, if any.

The Company intends to contribute the net proceeds of the offering to its
operating partnership, which will use the net proceeds for general business
purposes, which may include acquiring, developing, renovating, expanding or
improving land and income-producing real estate properties in accordance with
the Company's investment strategy and reducing its debt.

BMO Capital Markets and Baird are the joint book-running managers for the
offering.D.A. Davidson & Co. and J.J.B. Hilliard, W.L. Lyons, LLC are acting
as co-managers.

This press release shall not constitute an offer to sell or a solicitation of
an offer to buy, nor shall there be any sale of or any solicitation of an
offer to buy, these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus and related
prospectus supplement, copies of which may be obtained (when available) by
contacting: BMO Capital Markets at 3 Times Square, 28th Floor, New York, NY
10036, Attention: Syndicate Desk, or by telephone at (800) 414-3627; or Robert
W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 E. Wisconsin
Avenue, Milwaukee, Wisconsin 53202, or by telephone at (800) 792-2413, or by
e-mail at syndicate@rwbaird.com.

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 and St. Cloud, Minnesota.

Forward-Looking Statements

This press release contains certain "forward-looking" statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and other
federal securities laws. These forward-looking statements are based upon the
Company's expectations, but these statements are not guaranteed to occur. For
example, the fact that this offering has priced may imply that this offering
will close, but the closing is subject to conditions customary in transactions
of this type and may be delayed or may not occur at all. Investors should not
place undue reliance upon forward-looking statements.

CONTACT: Diane Bryantt
         Chief Financial Officer
         1400 31st Ave SW, Suite 60
         PO Box 1988
         Minot, North Dakota 58702-1988
         phone: 701.837.4738
         fax: 701.838.7785
         email: dbryantt@iret.com
         www.iret.com

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