DWS RREEF Real Estate Fund, Inc and DWS RREEF Real Estate Fund II, Inc. Announce Annual Meeting of Stockholders
September 14 2009 - 5:47PM
Business Wire
The Boards of Directors of DWS RREEF Real Estate Fund, Inc.
(AMEX:SRQ) and DWS RREEF Real Estate Fund II, Inc.
(AMEX:SRO) (each, a “Fund” and collectively, the “Funds”)
announced that the Annual Meeting of Stockholders for each Fund
will be held on December 7, 2009 at the New York Marriott Eastside,
525 Lexington Avenue, New York, NY 10017 at 11:00 a.m. Holders of
record of shares of common and preferred shares, of the Funds at
the close of business on October 16, 2009 are entitled to vote at
the meeting and any postponements or adjournments thereof.
In addition to voting on the election of Directors, stockholders
will have the opportunity to vote again on a Plan of Liquidation
and Dissolution. If the Plan of Liquidation and Dissolution is
approved by stockholders, each Fund would sell its assets,
discharge or reserve for its liabilities, and distribute the net
proceeds to stockholders. Stockholders of DWS RREEF Real Estate
Fund, Inc. may also have the opportunity to vote on various
proposals made by an insurgent stockholder, if properly presented
at the meeting.
There can be no assurance that stockholders of a Fund will
approve the proposed Plan of Liquidation and Dissolution. Each
Fund’s stockholders are advised to read the Fund’s proxy statement
and other materials when they become available, as they will
contain important information. These materials will be mailed to
stockholders and will be available on the SEC’s website.
In addition, each Fund today announced that it has recently
received notice that it has been named as a defendant, along with
the Fund's investment adviser, sub-adviser, and certain Fund
officers, in a class action lawsuit filed in the Southern District
of New York on behalf of certain Fund stockholders, alleging
various securities law disclosure violations. The Funds intend to
defend the lawsuit vigorously. In the event that stockholders
approve the Plan of Liquidation and Dissolution being proposed at
each Fund's upcoming Annual Meeting, it is possible that
implementation of the Plan of Liquidation and Dissolution could be
delayed or otherwise affected if this litigation is still pending
at the time, although there is currently no certainty as to whether
or how the pending litigation might affect a Plan’s implementation.
Further details will be provided in each Fund's proxy statement for
the Annual Meeting.
For more information on the Funds 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.
FOR MORE INFORMATION: The foregoing is not a solicitation of
any proxy. For more information regarding the Fund, or to receive a
free copy of materials filed with the SEC (including the proxy
statement relating to the 2009 annual meeting of stockholders once
it is filed with the SEC), please visit
www.dws-investments.com. Free copies of such materials
can also be found on the SEC’s Website www.sec.gov.
Please read the proxy statement carefully when it is available
because it will contain important information regarding your
investment in the Fund.
The Fund, its directors, executive officers and other members
of management may be deemed to be participants in any future
solicitation of the Fund’s security holders in connection with its
2009 annual meeting of stockholders. Stockholders may obtain
information regarding the names, affiliations and interests of such
individuals in the Fund’s Certified Shareholder Report on Form
N-CSR for the year ended December 31, 2008 and its proxy statement
for the 2009 annual meeting of stockholders when it becomes
available.
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.
Copyright 2009 DWS Investments Distributors Inc. All rights
reserved. (9/090 R-13697-1)
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