Scudder RREEF Real Estate Fund, Inc. (SRQ) and Scudder RREEF Real Estate Fund
II, Inc. (SRO) Announce Revised Dividend Information
NEW YORK, March 2 /PRNewswire-FirstCall/ -- Scudder RREEF Real Estate Fund,
Inc. and Scudder RREEF Real Estate II, Inc. announced a reclassification to
the distributions paid in 2003 by both of the Funds.
On December 19, 2003, the Board of Directors of SRQ declared a special year end
distribution of $0.30 per share from short term capital gains, payable on
January 13, 2004 to shareholders of record at the close of business on December
31, 2003. The revised classification of the $0.30 per share distribution can be
found in the chart below. All other monthly income distributions for the tax
year 2003 remain as ordinary dividend income.
Revised Classification
Payable Date Amount Ordinary Dividends Capital Gains
1/13/2004 $0.30 $0.082451 $0.217549 On October 3, 2003, the Board of Directors of SRO declared the first three
regular monthly dividends of $0.10 per share for the months of October, November
and December. The revised classification of the monthly dividends can be found
in the chart below.
Revised Classification
Payable Date Amount Ordinary Dividends Capital Gains Non-Taxable
Return of
Capital
10/31/2003 $0.10 $0.070908 $0.00 $0.029092
11/28/2003 $0.10 $0.070908 $0.00 $0.029092
12/31/2003 $0.10 $0.048779 $0.031208 $0.020013 Please refer to your 2003 1099DIV form for further details on these revised
distributions. For more information please contact your tax advisor, 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.
These are non-diversified funds. 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. Shares of Closed-End Funds
frequently trade at a discount to net asset value. The price of the Fund's
shares is determined by a number of factors, several of which are beyond the
control of the Fund. Therefore,the Fund cannot predict where the shares will
trade in relation to the net asset value.
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.
Any tax or legal information in this letter is merely a summary of our
understanding and interpretation of some of the current laws and regulations and
is not exhaustive. Consult your legal or tax counsel for advice and information
concerning your particular situation. Neither Scudder Investments nor any of
its representatives, may give tax or legal advice. Inc.
DATASOURCE: Scudder RREEF Real Estate Fund, Inc.; Scudder RREEF Real Estate II, CONTACT: Media - Judith Inosanto, +1-212-326-6746, or Investors - James Beale, 1-800-349-4281, both for Scudder RREEF Real Estate Fund, Inc. and Scudder RREEF Real Estate II, Inc.
Web site: http://cef.scudder.com/
|