AEW Real Estate Income Fund Announces Dividends for April, May and June 2006.

BOSTON -- The AEW Real Estate Income Fund, which is listed on the American Stock Exchange under the symbol "RIF," announced today three monthly dividends of $0.115 per common share for the months of April, May, and June payable on April 28, 2006, May 26, 2006, and June 30, 2006, respectively, to shareholders of record on April 18, 2006, May 15, 2006, and June 12, 2006, respectively. These amounts are in accordance with the policy that the Board of Trustees of the Fund has adopted to provide investors with a stable, monthly distribution paid out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.

The AEW Real Estate Income Fund is subject to U.S. corporate tax laws. Under U.S. tax accounting rules, the amount of distributable income for each fiscal period depends on the composition of distributions made by the underlying portfolio of Real Estate Investment Trusts ("REITs") and on the aggregate gains and losses realized by the Fund during the entire year. Accordingly, the precise amount of distributable (taxable) income can only be determined after the end of the Fund's fiscal year, January 31. Distributions may be redesignated as capital gain distributions or, if in excess of taxable income, as a return of paid-in capital.

The AEW Real Estate Income Fund's primary investment objective is high current income; its secondary investment objective is capital appreciation. The Fund currently seeks to achieve its investment objectives by investing primarily in common and preferred stock issued by REITs and other real estate companies. The Fund's portfolio manager is Matthew A. Troxell, CFA. Jeffrey P. Caira, J. Hall Jones, Jr., CFA, and Roman Ranocha, CFA, are assistant portfolio managers of the Fund.

The AEW Real Estate Income Fund, a non-diversified closed-end investment management company, is advised by AEW Management and Advisors, L.P., an affiliate of AEW Capital Management, L.P. ("AEW"), which is a subsidiary of IXIS Asset Management US Group, L.P. AEW is a real estate investment manager, providing advisory services to investors worldwide, focusing on directly held real estate assets, real estate equity securities, real estate opportunity funds and international investment. AEW and its affiliates currently manage over $23 billion of capital which is invested in $32 billion of real estate and securities in North America and Europe. For further information, visit www.aew.com or www.ixisag.com/aew_rif/.