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DWS RREEF World Real Estate & Tactical Strategies Fund, Inc. (NYSE: DRP) (the aFunda) Announces Changes

^{Published on 2010-05-26 13:40:36 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Effective on or about June 30, 2010, DWS RREEF World Real Estate & Tactical Strategies Fund, Inc. (NYSE: DRP) (the aFunda) will cease using Deutsche Investment Management Americas Inc.a™s (aDIMAa) global tactical asset allocation overlay strategy (aiGAPa). DIMA, the Funda™s investment manager, and its affiliate RREEF America L.L.C. (aRREEFa), the Funda™s investment adviser, believe this change has the potential to provide more stable earnings for the Fund. In connection with this change, the Board also approved a change in the name of the Fund to aDWS RREEF World Real Estate Fund, Inc.a RREEF will continue to be responsible for managing the Funda™s investments in global real estate securities and other permitted investments.

"DWS RREEF World Real Estate Fund, Inc."

The Board has also authorized the Fund to engage in borrowing for leverage purposes, which is permitted by the Funda™s investment policies. DIMA and RREEF recommended the addition of borrowing, as they believe leverage can increase the yield opportunities for the Fund. The Fund initially expects to establish a $50 million borrowing facility, and its investment policies permit the Fund to borrow amounts up to 33 1/3% of its total assets, including the amount borrowed. DIMA anticipates that the leverage facility would be implemented on or about June 30, 2010.

Additionally, DIMA has agreed for the period commencing on the date that the fund ceases using the iGAP overlay strategy (on or about June 30, 2010), to waive 0.10% of its management fee through September 30, 2011. As a result, during the period of the temporary waiver, the management fee charged to the fund will be reduced from 0.90% to 0.80% of average daily total managed assets.

For more information on DRP visit [ www.dws-investments.com ] or call (800) 349-4281.

IMPORTANT INFORMATION

DWS RREEF World Real Estate & Tactical Strategies Fund (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 increase volatility.Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. This fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk.

The use of leverage can enhance the effect of changes in the value of the Funda™s assets and can make fluctuations in the Funda™s net asset value per share more volatile. Additionally, the fees paid to DIMA by the Fund (and to RREEF by DIMA) will be higher if leverage is implemented than if the Fund did not use leverage, since such fees are paid based on the Funda™s total amanaged assets,a which include assets purchased with the proceeds of any borrowings.

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 funda™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.

DWS Investments is part of Deutsche Banka™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.

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