Scudder RREEF Real Estate Fund, Inc. (SRQ) Declares Increased Monthly Dividends

Scudder RREEF Real Estate Fund, Inc. (SRQ) Declares Increased Monthly Dividends



NEW YORK, Jan. 6  /PRNewswire-FirstCall/ -- The Board of Directors of the
Scudder RREEF Real Estate Fund, Inc., (the "Fund"), which trades on the American
Stock Exchange under the ticker symbol SRQ, declared an increased regular
monthly dividend of $0.12 per common share for the months of January, February
and March.  The previous monthly dividend was $0.115 per common share.  The
increased monthly dividend equates to an annualized dividend of $1.44 per common
share.  The following dates apply:

                                  Ex-Date       Record Date   Payable Date
  January                         1-14-04         1-16-04       1-30-04
  February                        2-12-04         2-17-04       2-27-04
  March                           3-11-04         3-15-04       3-31-04



Portfolio Manager, John Robertson, added, "Due in part to a number of dividend
increases among the Fund's holdings, we are very pleased to be able to increase
the Fund's regular monthly dividend.  This increase will help meet a critical
portion of the Fund's investment objective of total return. Furthermore, we are
encouraged by the mounting evidence of an economic recovery and the resultant
prospects for improved fundamentals within the real estate sector.  This should
support stock prices over the longer term."

The current distribution rate represents an annualized yield of 7.55% based on
the closing market price of $19.07 on January 5, 2004, and a 7.01% yield on a
closing NAV of $20.53 as of the same date.

Scudder RREEF Real Estate Fund, Inc.'s objective is total return through a
combination of high current income and capital appreciation potential by
investing in real estate securities.  The Fund's initial offering was October
28, 2002.

For more information on SRQ please contact a representative at [phone] or
visit us on the web at CEF.Scudder.Com (do not use www) for updated information
on the Fund.

This is a non-diversified fund.  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.

Not FDIC Insured. Not Guaranteed. May Lose Value.  No assurance that objectives
will be met.

Scudder Investments 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 Asset Management Inc., Deutsche Asset
Management Investment Services Ltd., Deutsche Investment Management Americas
Inc. and Scudder Trust Company. 

DATASOURCE: Scudder RREEF Real Estate Fund, Inc.



CONTACT:  Judith Inosanto, [phone], Media, or James Beale,

1-800-349-4281, Investors, both for Scudder RREEF Real Estate Fund, Inc.

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