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 December 2003 was
as follows:-

                                              NAV
                                                 
Ordinary                                  49.552p
                                                 
Zero Dividend Preference                 123.567p

for and on behalf of

INVESCO Asset Management Limited

10 December 2003



END