DWS RREEF Real Estate Fund II, Inc. Announces Results of Reconvened Annual Meeting of Stockholders

The Board of Directors of DWS RREEF Real Estate Fund II, Inc. (AMEX:SRO) (the “Fund”) announced today that the Fund’s reconvened annual meeting of stockholders was held on January 29, 2010 after being adjourned on December 7, 2009. At the meeting, stockholders approved the Board’s proposal to liquidate and dissolve the Fund. The Fund will cease its business as an investment company, except for the purpose of liquidation and the winding up of its business and affairs, as of a “Cessation Date” to be determined by a committee of the Board. In setting the Cessation Date, the committee will consider the steps required to accomplish an orderly liquidation of the Fund under current market conditions, and the timing of the Cessation Date is expected to be announced in the coming weeks. Detailed voting results from the stockholder meeting will be posted to the Fund’s website once available at www.dws-investments.com.

In addition, the Fund announced that it has been removed as a defendant in a previously disclosed class action lawsuit filed in the Southern District of New York, on behalf of certain Fund stockholders, alleging various securities law disclosure violations. Accordingly, the lawsuit is not currently expected to delay or otherwise affect the Fund’s liquidation and dissolution. The Fund's investment adviser, sub-adviser, and certain Fund officers are still named as defendants in the lawsuit.

For more information on the Fund, 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: the effects of changes in market and economic conditions, other legal and regulatory developments, and other additional risks and uncertainties.

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

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-15115-2 1/10)

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