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 (800) 349.4281 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, +1-212-326-6746, Media, or James Beale, 1-800-349-4281, Investors, both for Scudder RREEF Real Estate Fund, Inc.

Copyright