Board of Trustees

Jeffrey L. Miller
Chairman of the Board, Investors Real Estate Trust
President, M&S Concessions, Inc.
Former President, Coca-Cola Bottling, Co.

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Patrick G. Jones
Private Investor
Former General Manager of The Minot Daily News
Former President of Central Venture Capital, Inc.

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Timothy P. Mihalick
Senior Vice President & Chief Operating Officer, Investors Real Estate Trust

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C.W. "Chip" Morgan
President & Chief Executive Officer, Northwest Respiratory Services, LLC, St. Paul MN

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W. David Scott
Chief Executive Officer, Magnum Resources, Inc., Omaha, NE

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Stephen L. Stenehjem
Vice Chairman of the Board, Investors Real Estate Trust
President & Chief Executive Officer, Watford City BancShares, Inc.
President & Chairman, First International Bank & Trust, Watford City, ND
Vice President & Director, First International Bank & Trust, Scottsdale, AZ

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John D. Stewart
President & Chief Executive Officer, Fisher Motors, Inc., Minot, ND

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Thomas A. Wentz, Jr.
Senior Vice President - Asset Management & Finance, Investors Real Estate Trust
Director, SRT Communications, Inc.
Sole General Partner, Wenco, Ltd.
Former Shareholder & Attorney, Pringle & Herigstad, P.C.