-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 JIMVEpgHb7q3/QLtOrIUMl3c+wTNAmf4qjo5NDZnJWDJYfpv/qSIUeyKdx+TW/YS
 It8m7V4yj9VcyF0RMeeyfA==

<SEC-DOCUMENT>9999999997-03-034497.txt : 20030905
<SEC-HEADER>9999999997-03-034497.hdr.sgml : 20030905
<ACCEPTANCE-DATETIME>20030905151219
<PAPER>
ACCESSION NUMBER:		9999999997-03-034497
CONFORMED SUBMISSION TYPE:	ARS
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030430
FILED AS OF DATE:		20030904
EFFECTIVENESS DATE:		20030904

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INVESTORS REAL ESTATE TRUST
		CENTRAL INDEX KEY:			0000798359
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				450311232
		STATE OF INCORPORATION:			ND
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		ARS
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14851
		FILM NUMBER:		03030843

	BUSINESS ADDRESS:	
		STREET 1:		12 S MAIN STREET
		STREET 2:		SUITE 100
		CITY:			MINOT
		STATE:			ND
		ZIP:			58701
		BUSINESS PHONE:		701-837-4738

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1988
		STREET 2:		SUITE 100
		CITY:			MINOT
		STATE:			ND
		ZIP:			58702-1988
</SEC-HEADER>
<DOCUMENT>
<TYPE>ARS
<SEQUENCE>1
<FILENAME>9999999997-03-034497.paper
<DESCRIPTION>AUTO-GENERATED PAPER DOCUMENT
<TEXT>
This document was generated as part of a paper submission.
Please reference the Document Control Number 03030843 for access to the original document.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----