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 Year End Distributions

NEW YORK--(Business Wire)--The Board of Directors of the DWS RREEF Real Estate Fund, Inc.
(AMEX: SRQ) and the DWS RREEF Real Estate Fund II, Inc. (AMEX: SRO)
declared a year-end distribution for the Funds.

DWS RREEF Real Estate Fund, Inc. (AMEX: SRQ) declared a special
distribution of $0.3210 per share from long-term capital gains,
payable on January 10, 2008 to shareholders of record at the close of
business on December 31, 2007. The ex-date is December 27, 2007.

DWS RREEF Real Estate Fund II, Inc. (AMEX: SRO) declared a special
distribution of $0.24 per share from long-term capital gains, payable
on January 10, 2008 to shareholders of record at the close of business
on December 31, 2007. The ex-date is December 27, 2007.

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.

Each Fund has a policy to make a level distribution each quarter
to shareholders. The current rate of the distribution roughly
corresponds to the Fund's projected performance. However, you should
not draw any conclusions about either Fund's past or future investment
performance from its current distribution rate or from the terms of
each Fund's level distribution policy. Moreover, the Funds' investment
distribution rate should not be confused with pure income or yield.
The level quarterly distribution rate 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 the 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 quarterly period and the
preceding periods will be available on the Funds' website
(www.cef.dws.scudder.com). The level quarterly distribution 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. 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.

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. REIT investments can be affected by interest
rate moves, economic cycles, and tax and regulatory requirements.

Past performance is no guarantee of future results. Annualized
dividend yield is the latest quarterly dividend shown as an annualized
percentage of net asset value/market price. Annualized dividend yield
simply measures the level of dividends and is not a complete measure
of performance. Market price, annualized dividend 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.

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

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) 2007 DWS Scudder Distributors, Inc.

(MARS 50211 7/07)

DWS RREEF Real Estate Fund, Inc.
Media
Deutsche Bank Press Office, 212-250-7171
or
Investors
Christopher Ferreira, 800-349-4281

Copyright Business Wire 2007