DWS RREEF World Real Estate Fund, Inc. Announces Formal Board Approval of Proposed Merger

DWS RREEF World Real Estate Fund, Inc. (NYSE: DRP) announced that its Board of Directors has formally approved a proposal to merge the Fund into DWS RREEF Global Real Estate Securities Fund, a registered open-end fund also managed by Deutsche Investment Management Americas Inc. The Fund previously announced on October 4, 2010 that the Board approved the merger in principle, and the Board has now determined to formally recommend that stockholders vote in favor of the transaction, which would allow stockholders to maintain their investments in a similarly managed portfolio that offers them daily liquidity for their shares at net asset value (subject to any applicable redemption fee).

The proposal will be submitted to stockholders for a vote at the upcoming Special Meeting of Stockholders of the Fund scheduled to be held on January 12, 2011 at 345 Park Avenue, 24th Floor, New York, NY 10017. The close of business on November 19, 2010 has been fixed as the record date for the Special Meeting of Stockholders and any postponements or adjournments thereof. The terms and conditions of the proposed merger, and the considerations of the Board in approving it, are described in detail in a prospectus/proxy statement which is on file with the Securities and Exchange Commission and which the Fund expects to mail to stockholders on or about December 1, 2010.

For more information about DWS Investments closed-end funds, visit www.dws-investments.com or call (800) 349-4281.

IMPORTANT INFORMATION

DWS RREEF World Real Estate Fund, Inc. (DRP) is subject to investment risk. Any fund that concentrates in a particular segment of the market will generally be more volatile than a fund that invests more broadly. There are special risks associated with an investment in real estate, including credit risk, interest rate fluctuations and the impact of varied economic conditions. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increased volatility. Leverage results in additional risks and can magnify the effect of any losses. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks.

Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to the net asset value. The price of a fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, a fund cannot predict whether its 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 these 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 need to obtain any necessary regulatory approvals; (ii) the effects of changes in market and economic conditions; (iii) other legal and regulatory developments; and (iv) other additional risks and uncertainties.

FOR MORE INFORMATION: The foregoing is not a solicitation of any proxy. For more information regarding the funds, or to receive a free copy of materials filed with the SEC, including the prospectus/proxy statement relating to the proposed merger (and containing important information about fees, expenses and risk considerations) which is included in a registration statement that has been filed with the SEC and become effective, 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 prospectus/proxy statement carefully because it contains important information regarding your investment in the Fund. Please read the prospectus/proxy statement carefully before making any investment decisions.

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-19904-1 11/10)

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