DWS RREEF Real Estate Fund, Inc. (SRQ) and DWS RREEF Real Estate Fund II, Inc. (SRO) Announce Increase in the Regular Monthly Distribution Rate.

Declare Distributions for April, May and June

NEW YORK -- The Board of Directors of DWS RREEF Real Estate Fund, Inc. (AMEX: SRQ) and DWS RREEF Real Estate Fund II, Inc. (AMEX: SRO), declared an increase in the monthly distribution for the months of April, May and June. SRQ will have an increase in the distribution of $0.031 per common share, raising the monthly distribution rate to $0.163 per share. SRO will have an increase in the distribution of $0.022 per common share, raising the monthly distribution rate to $0.127 per share.

The following dates and dollar amounts apply for the current period:

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SRQ's current distribution rate represents an annualized distribution rate of 7.58% based on the closing market price of $25.82 on April 10, 2007, and a 6.52% distribution rate on a closing NAV of $30.02 as of the same date.

SRO's current distribution rate represents an annualized distribution rate of 7.66% based on the closing market price of $19.90 on April 10, 2007, and a 6.61% distribution rate on a closing NAV of $23.07 as of the same date.

In adopting the increase in the distribution rate, the Board of Directors considered both the Funds' increased net investment income along with the increased level of the Funds' capital, which has increased since the Funds' initial public offerings due to unrealized appreciation in the Funds' portfolios. The Board of Directors also took into account each Fund's investment objective, which is to provide total return through a combination of high current income and capital appreciation potential by investing primarily in real estate securities.

The level monthly 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 will 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 monthly period and the preceding three monthly periods will be available on the Funds' website (www.cef.dws.scudder.com) no later than the end of each month. The level monthly distribution described above would result in the payment of approximately the same amount to the Funds' common shareholders each month. 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.

For more information on SRQ and SRO please contact a representative at [phone] or visit us on the web at www.cef.dws-scudder.com for updated information on the Funds and estimated distribution information.

Annualized distribution rate is the latest monthly 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.

SRQ and SRO are non-diversified funds, which means they can invest in securities of relatively few issues. 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. 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).

    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.

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