IRETS Investors Real Estate Trust - Shares of Beneficial Interest (MM)

NEW YORK, July 30 /PRNewswire/ -- Investors Real Estate Trust (NASDAQ:IRETS) will replace Crescent Real Estate Equities Co. (NYSE:CEI) in the S&P REIT Composite after the close of trading on Friday, August 3. Crescent is being acquired by Morgan Stanley Real Estate in a deal that is expected to close on or about that date, pending final approvals. Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/. Investors Real Estate is a REIT that engages in the ownership and operation of residential, commercial, office and retail properties in the United States. Headquartered in Minot, ND, the company will be added to the S&P REIT Composite GICS (Global Industry Classification Standard) Diversified REITs sub-industry. Following is a summary of the change: S&P REIT COMPOSITE INDEX -- August 3, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Investors Real Financials Diversified REITs Estate DELETED Crescent Real Financials Diversified REITs Estate Equities Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned. About Standard & Poor's Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com/. About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies (NYSE:MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2006 were $6.3 billion. Additional information is available at http://www.mcgraw-hill.com/. DATASOURCE: Standard & Poor's CONTACT: David M. Blitzer, Ph.D. Managing Director & Chairman of the Index Committee (212)-438-3907 Web site: http://www.standardandpoors.com/

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