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

NEW YORK -- 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

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.

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

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)