Scudder RREEF Real Estate Fund, Inc. (SRQ) and Scudder RREEF Real
Estate Fund II, Inc. (SRO) Declare Monthly Dividends
CHICAGO, April 6 /PRNewswire-FirstCall/ -- The Board of Directors of the
Scudder RREEF Real Estate Fund, Inc. and the Scudder RREEF Real Estate Fund II,
Inc. , declared a regular monthly dividend for the months of April, May and
June. The following dates and dollar amounts apply: Dividend Ex-Dates Record Dates Payable Dates
Amount
Scudder RREEF Real
Estate Fund, Inc. (SRQ) $0.12 April 14, 2004 April 16, 2004 April 30, 2004 May 13, 2004 May 17, 2004 May 28, 2004
Scudder RREEF Real
EstateFund II, June 15, 2004 June 17, 2004 June 30, 2004
Inc. (SRO) $0.10 SRQ's current distribution rate represents an annualized yield of 7.50% based on
the closing market price of $19.20 on April 5, 2004, and a 6.47% yield on a
closing NAV of $22.24 as of the same date.
SRO's current distribution rate represents an annualized yield of 8.03% based on
the closing market price of $14.95 on April 5, 2004, and a 7.20% yield on a
closing NAV of $16.67 as of the same date.
Commenting on the current REIT market environment, John Robertson, a member of
the portfolio management team said, "REIT returns are uncorrelated with interest
rates because the negative impact of rising rates on underlying property values
is completely offset by rising income streams resulting from more robust
economic activity. The recent positive news regarding job growth should soon
begin to drive apartment fundamentals, and we believe office fundamentals will
follow suit after some sustained job growth. Additionally, certain property
types are showing consistent signs of improvement, specifically, hotel and
industrial fundamentals, which rely less on job growth. This gives us even
greater confidence in our expectations for accelerating earnings growth
potential over the next three years. We remain focused on stocks with
sustainable dividends coupled with growth opportunities that will support future
increases in dividends and intrinsic values." For more information on SRQ and SRO 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.
Annualized dividend yield is the latest monthly dividend shown as an annualized
percentage of net asset value/market price at month end. Annualized dividend
yield simply measures the level of dividends and is not a complete measure of
performance. Market price, annualized dividend yield, net asset value are
historical and will fluctuate and do not guarantee future results.
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 TrustCompany. DATASOURCE: Scudder RREEF Real Estate Fund I and II, Inc. (SRO)(SRQ) CONTACT: Media, Judith Inosanto, +1-212-454-7304, or Investors, James Beale, 1-800-349-4281, both for Scudder RREEF Real Estate Fund Web site: http://cef.scudder.com/
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