(Source: Business Wire)

The Board of Directors of DWS RREEF Real Estate Fund II, Inc.
(AMEX:SRO) (the "Fund") announced that the Fund has elected to opt
out of the Maryland Control Share Acquisition Act and to terminate its
Rights Agreement effective October 1, 2009.
The Fund previously announced that it had opted into the Maryland
Control Share Acquisition Act and adopted a Rights Agreement to enhance
its ability to protect the interests of stockholders against potentially
disruptive actions by a dissident stockholder controlled by Mr. Stewart
Horejsi.
In taking the actions announced today, the Board considered that in a
recent regulatory filing the Horejsi group indicated that is has reduced
its holdings in the Fund, it intends to sell its entire position in the
Fund, it does not intend to acquire additional shares of the Fund and it
does not intend to pursue its previously announced proposals related to
the operation of the Fund.
For more information on SRO visit www.dws-investments.com
or call (800) 349-4281.
IMPORTANT INFORMATION
Investments in funds involve risk. The fund involves additional risks
due to its narrow focus. There are special risks associated with
investment in real estate, including credit risk, interest rate
fluctuations and the impact of varied economic conditions.
Shares of common stock of closed-end funds, unlike open-end funds,
are not continuously offered. There is a one time public offering and,
once issued, shares of common stock of closed-end funds are traded in
the open market generally through a stock exchange. Common shares of
closed-end funds frequently trade at a discount to net asset value. The
price of common shares is determined by a number of factors, several of
which are beyond the control of the fund. Therefore, the fund cannot
predict whether its common shares will trade at, below, or above net
asset value.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of fund securities in
any state or jurisdiction in which such offer or solicitation or sale
would be unlawful prior to registration or qualification under the laws
of such state or jurisdiction.
Certain statements contained in this release may be forward-looking
in nature. These include all statements relating to plans, expectations,
and other statements that are not historical facts and typically use
words like "expect," "anticipate," "believe," and similar expressions.
Such statements represent management's current beliefs, based upon
information available at the time the statements are made, with regard
to the matters addressed. All forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in, or implied by, such statements.
Management does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
The following factors, among others, could cause actual results to
differ materially from forward-looking statements: (i) the ability of
the Funds to obtain any required shareholder approvals; (ii) the need to
obtain any necessary regulatory approvals; (iii) the effects of changes
in market and economic conditions; (iv) other legal and regulatory
developments; and (v) other additional risks and uncertainties.
Exception caught in main.
DWS Investments is part of Deutsche Bank's Asset Management division
and, within the US, represents the retail asset management activities of
Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche
Investment Management Americas Inc. and DWS Trust Company. (R-13968-1
9/09)
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