Thomas A. Wentz

THOMAS A. WENTZ SR., President and Chief Executive Officer of Investors Real
Estate Trust, is a graduate of Harvard College and Harvard Law School, and has
been associated with IRET since its formation on July 31, 1970. Mr. Wentz was a
member of IRET’s Board of Trustees from 1970 to 1998, Secretary from 1970 to
1987, Vice President from 1987 to July 2000, and has been President and Chief
Executive Officer since July 2000. Previously, from 1985 to 1991, Mr. Wentz was
a Vice President of IRET’s former advisor, Odell-Wentz & Associates, LLC, and,
until August 1, 1998, was a Partner in the law firm of Pringle & Herigstad, PC.