REAL ESTATE OPPORTUNITIES LIMITED                       

HEADLINE: Net Asset Values

The Board of Real Estate Opportunities Limited announces that the basic net
asset value per share at the close of business on Friday, 5 September 2003 was
as follows:-

                                              NAV
                                                 
Ordinary                                  48.720p
                                                 
Zero Dividend Preference                 120.942p

for and on behalf of

INVESCO Asset Management Limited

9 September 2003



END