DWS RREEF Real Estate Fund, Inc. (SRQ) and DWS RREEF Real Estate Fund II, Inc. (SRO)...

DWS RREEF Real Estate Fund, Inc. (SRQ) and DWS RREEF Real Estate Fund II, Inc. (SRO) Declare Distribution

NEW YORK--(Business Wire)--
The Boards of Directors of DWS RREEF Real Estate Fund, Inc. (AMEX:
SRQ) and DWS RREEF Real Estate Fund II, Inc. (AMEX: SRO), declared a
regular quarterly distribution. The following dates and dollar amounts
apply:

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Aggregate Ex-Date Record Payable
Distribution Date Date
Amount
DWS RREEF Real Estate Fund,
Inc. (SRQ) $0.489
DWS RREEF Real Estate Fund June 12, June 16, June 30,
II, Inc. (SRO) $0.381 2008 2008 2008
*T

SRQ's current distribution rate represents an annualized yield of
9.64% based on the closing market price of $20.30 on June 5, 2008 and
a 9.05% yield on a closing NAV of $21.62 as of the same date.

SRO's current distribution rate represents an annualized yield of
10.60% based on the closing market price of $14.38 on June 5, 2008 and
a 9.65% yield on a closing NAV of $15.80 as of the same date.

For more information on SRQ and SRO please contact a
representative at (800) 349.4281 or visit us on the web at
www.cef.dws-scudder.com for updated information on the Funds.

SRQ and SRO are non-diversified funds, which means they can invest
in securities of relatively few issuers. This presents greater risk of
loss of principal as the financial conditions or market assessments of
such securities change. Each Fund has a level distribution rate that
may be modified by the Board of Directors from time to time. It is
anticipated that a portion of the aggregate distributions made by the
Funds may constitute a return of capital. In addition, it is
anticipated that any realized capital gains for a Fund's fiscal year
will be paid to shareholders in a separate distribution at the end of
such year. If the total distributions made in any calendar year exceed
investment company taxable income, net tax-exempt income and net
capital gain, such excess distributed amount would be treated as
ordinary dividend income to the extent of each Fund's current and
accumulated earnings and profits. Distributions in excess of the
earnings and profits would first be a tax-free return of capital to
the extent of a shareholder's adjusted tax basis in the shares. After
such adjusted tax basis is reduced to zero, the distribution would
constitute capital gain (assuming the shares are held as capital
assets). A return of capital is not reflective of the Funds'
investment performance and should not be confused with income or
yield.

Estimated information on the Funds' net investment income and
other distribution information for each payment and the preceding
three payments will be available on the Funds' website
(www.cef.dws-scudder.com) no later than the end of each quarter. The
level distribution rate policy described above would result in the
payment of approximately the same amount to the Funds' common
shareholders each quarter. Section 19(a) of the Investment Company Act
of 1940, as amended (the "1940 Act"), and Rule 19a-1 thereunder
require the Funds to provide a written statement accompanying any
payment that adequately discloses the source of such payments if not
solely from investment income or capital gains. Shareholders should
read any written disclosure provided by the Funds pursuant to
Section 19(a) and Rule 19a-1 carefully and/or view the Funds' website,
and should not assume that the source of any distribution from the
Funds is net income. In addition, shareholders should not draw any
conclusions about the Funds' investment performance from the amounts
of such distributions or from the terms of the Funds' level
distribution policy. The amounts and sources of distribution included
in such written disclosures are estimates only and should not be
reported for tax purposes. The actual amount and sources of the
amounts for tax reporting purposes will depend upon the Funds'
investment experience during the remainder of their fiscal years and
may be subject to changes. The Funds will send shareholders a Form
1099-DIV for the calendar year that will tell shareholders how to
report these distributions for federal income tax purposes. The
annualized distribution rate is the latest distribution shown as an
annualized percentage of net asset value/market prices. Annualized
distribution rates simply measure the level of distributions and are
not a measure of performance. REIT investments can be affected by
interest rate moves, economic cycles, and tax and regulatory
requirements. Market price, annualized distribution rates and net
asset values are historical and will fluctuate and do not guarantee
future results.

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NOT FDIC/ NCUA INSURED -- MAY LOSE VALUE -- NO BANK GUARANTEE
NOT A DEPOSIT -- NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
*T

Past performance is no guarantee of future results. Annualized
distribution yield is the latest quarterly dividend shown as an
annualized percentage of net asset value/market price at quarter end.
Annualized distribution yield simply measures the level of
distributions and is not a complete measure of performance. Market
price, annualized distribution yield, net asset value and returns are
historical and will fluctuate and do not guarantee future results.
Investments in funds involve risk. Some funds have more risk than
others. These include funds that allow exposure to or otherwise
concentrate investments in certain sectors, geographic regions,
security types, market capitalization or foreign securities (e.g.,
political or economic instability, which can be accentuated in
emerging market countries).

This announcement is not an offer to purchase or the solicitation
of an offer to sell shares of the Funds or a prospectus, circular or
representation intended for use in the purchase or sale of Fund
shares.

DWS Scudder is part of Deutsche Asset Management, which is the
marketing name in the US for the asset management activities of
Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche
Investment Management Americas Inc. and DWS Trust Company. Copyright
(C) 2008 DWS Scudder Distributors, Inc. (R-4471-1 6/08)

Media
Deutsche Bank Press Office, 212-250-7171
or
Investors
DWS Closed-end Funds, 800-349-4281

Copyright Business Wire 2008