UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF Scudder RREEF Real Estate Fund, Inc. Investment Company Act file number 811-21172 Scudder RREEF Real Estate Fund, Inc. (Exact name of registrant as specified in charter) One South Street Baltimore, MD 21202 (Address of principal executive offices) (Zip code) John Millette Secretary Two International Place Boston, MA 02110 (Name and address of agent for service) Registrant's telephone number, including area code: 617-295-1000 Date of fiscal year end: 12/31 ----- Date of reporting period: 7/1/03-6/30/04 ---------------- Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. ProxyEdge - Investment Company Report Report Date: 07/19/2004 Meeting Date Range: 07/01/2003 to 06/30/2004 Selected Accounts: Scudder RREEF Real Est Fund - ------------------------------------------------------------------------------------------------------------------------------------ AMERICAN FINANCIAL REALTY TRUST Annual Meeting Date: 09/25/2003 Issuer: 02607P ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 AMENDMENT OF THE TRUST S AMENDED AND RESTATED Management For No DECLARATION OF TRUST TO DE-STAGGER THE BOARD OF TRUSTEES AND PROVIDE THAT ALL TRUSTEES WILL BE SUBJECT TO RE-ELECTION ON AN ANNUAL BASIS. 02 DIRECTOR Management For No 03 AMENDMENT AND RESTATEMENT OF THE TRUST S 2002 Management Against Yes EQUITY INCENTIVE PLAN, INCLUDING A 6,750,000 INCREASE IN THE NUMBER OF COMMON SHARES AUTHORIZED FOR ISSUANCE UNDER THE 2002 EQUITY INCENTIVE PLAN. - ------------------------------------------------------------------------------------------------------------------------------------ NATIONAL HEALTH INVESTORS, INC. NHI Annual Meeting Date: 04/20/2004 Issuer: 63633D ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ I DIRECTOR Management For No II PROPOSAL TO RATIFY THE AUDIT COMMITTEE S SELECTION Management For No OF ERNST & YOUNG LLP AS INDEPENDENT AUDITOR - ------------------------------------------------------------------------------------------------------------------------------------ AMLI RESIDENTIAL PROPERTIES TRUST AML Annual Meeting Date: 04/26/2004 Issuer: 001735 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO RATIFY THE APPOINTMENT OF KPMG LLP AS THE Management For No COMPANY S INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. - ------------------------------------------------------------------------------------------------------------------------------------ REGENCY CENTERS CORPORATION REG Annual Meeting Date: 04/28/2004 Issuer: 758849 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 AMENDMENT TO REGENCY S RESTATED ARTICLES OF INCORPORATION Management For No TO ELIMINATE CLASSIFICATION OF THE BOARD OF DIRECTORS. 03 AMENDMENT TO REGENCY S RESTATED ARTICLES OF INCORPORATION Shareholder Against Yes TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF PREFERRED STOCK. 04 AMENDMENT TO REGENCY S RESTATED ARTICLES OF INCORPORATION Management For No TO DELETE MATTERS OF HISTORICAL INTEREST RELATING TO SECURITY CAPITAL S OWNERSHIP LIMIT. - ------------------------------------------------------------------------------------------------------------------------------------ CARRAMERICA REALTY CORPORATION CRE Annual Meeting Date: 04/29/2004 Issuer: 144418 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO LIMIT THE LENGTH OF SERVICE OF THE MEMBERS Shareholder Against No OF THE BOARD OF DIRECTORS TO SIX YEARS - ------------------------------------------------------------------------------------------------------------------------------------ APARTMENT INVESTMENT AND MANAGEMENT AIV Annual Meeting Date: 04/30/2004 Issuer: 03748R ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO RATIFY THE SELECTION OF ERNST & YOUNG LLP Management For No TO SERVE AS INDEPENDENT AUDITORS FOR THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. 03 TO APPROVE THE SALE OF HIGH PERFORMANCE UNITS. Management For No 04 TO URGE THE COMPENSATION AND HUMAN RESOURCES Shareholder For Yes COMMITTEE OF THE BOARD TO ESTABLISH A POLICY TO SEEK STOCKHOLDER APPROVAL OF CERTAIN EXECUTIVE SEVERANCE ARRANGEMENTS. - ------------------------------------------------------------------------------------------------------------------------------------ AVALONBAY COMMUNITIES, INC. AVB Annual Meeting Date: 05/05/2004 Issuer: 053484 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO CONSIDER AND ACT UPON A STOCKHOLDER PROPOSAL Shareholder For Yes DESCRIBED IN THE PROXY STATEMENT IF PROPERLY PRESENTED AT THE ANNUAL MEETING. - ------------------------------------------------------------------------------------------------------------------------------------ GLENBOROUGH REALTY TRUST INCORPORATE GLB Annual Meeting Date: 05/05/2004 Issuer: 37803P ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------------ LIBERTY PROPERTY TRUST LRY Annual Meeting Date: 05/05/2004 Issuer: 531172 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 APPROVAL OF THE PROPOSAL TO AMEND THE DECLARATION Management For No OF TRUST OF THE TRUST TO AMEND AND RESTATE IN ITS ENTIRETY ARTICLE VII OF THE DECLARATION OF TRUST. 03 APPROVAL OF THE PROPOSAL TO AMEND THE DECLARATION Management Against Yes OF TRUST TO AMEND SECTIONS 6.2, 6.3 AND 10.1 (D) OF THE DECLARATION OF TRUST. 04 APPROVAL OF THE PROPOSAL TO AMEND THE TRUST S Management Against Yes AMENDED AND RESTATED SHARE INCENTIVE PLAN, INCLUDING AN AMENDMENT TO INCREASE THE NUMBER OF SHARES AVAILABLE FOR AWARDS THEREUNDER BY 1,500,000 SHARES TO 11,426,256 SHARES. - ------------------------------------------------------------------------------------------------------------------------------------ SIMON PROPERTY GROUP, INC. SPG Annual Meeting Date: 05/05/2004 Issuer: 828806 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG Management For No LLP AS INDEPENDENT ACCOUNTANTS FOR 2004. 03 TO CONSIDER AND VOTE ON A STOCKHOLDER PROPOSAL. Shareholder For Yes - ------------------------------------------------------------------------------------------------------------------------------------ TOWN & COUNTRY TRUST TCT Annual Meeting Date: 05/05/2004 Issuer: 892081 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------------ PUBLIC STORAGE, INC. PSA Annual Meeting Date: 05/06/2004 Issuer: 74460D ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF APPOINTMENT OF ERNST & YOUNG Management For No LLP, INDEPENDENT AUDITORS, TO AUDIT THE ACCOUNTS OF PUBLIC STORAGE, INC. FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. - ------------------------------------------------------------------------------------------------------------------------------------ GLIMCHER REALTY TRUST GRT Annual Meeting Date: 05/07/2004 Issuer: 379302 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS THE COMPANY S INDEPENDENT PUBLIC ACCOUNTANTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. 03 APPROVAL OF THE 2004 INCENTIVE COMPENSATION PLAN. Management For No - ------------------------------------------------------------------------------------------------------------------------------------ HERITAGE PROPERTY INVESTMENT TRUST, HTG Annual Meeting Date: 05/07/2004 Issuer: 42725M ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO VOTE AND ACT WITH DISCRETIONARY AUTHORITY Management Against Yes UPON, OR IN REGARD TO, ANY OTHER MATTERS WHICH MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNED OR POSTPONED SESSION THEREOF. - ------------------------------------------------------------------------------------------------------------------------------------ ARDEN REALTY, INC. ARI Annual Meeting Date: 05/11/2004 Issuer: 039793 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 STOCKHOLDER PROPOSAL REGARDING SEVERANCE AGREEMENTS Shareholder For Yes FOR SENIOR EXECUTIVES. - ------------------------------------------------------------------------------------------------------------------------------------ HRPT PROPERTIES TRUST HRP Annual Meeting Date: 05/11/2004 Issuer: 40426W ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------------ SENIOR HOUSING PROPERTIES TRUST SNH Annual Meeting Date: 05/11/2004 Issuer: 81721M ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------------ ENTERTAINMENT PROPERTIES TRUST EPR Annual Meeting Date: 05/12/2004 Issuer: 29380T ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 PROPOSAL TO AMEND THE 1997 SHARE INCENTIVE PLAN Management For No 03 PROPOSAL TO RATIFY THE APPOINTMENT OF KPMG, LLP Management For No AS THE COMPANY S INDEPENDENT AUDITORS FOR 2004 - ------------------------------------------------------------------------------------------------------------------------------------ FIRST INDUSTRIAL REALTY TRUST, INC. FR Annual Meeting Date: 05/12/2004 Issuer: 32054K ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE SELECTION OF PRICEWATERHOUSECOOPERS Management For No LLP AS THE COMPANY S INDEPENDENT AUDITORS. - ------------------------------------------------------------------------------------------------------------------------------------ NEW PLAN EXCEL REALTY TRUST, INC. NXL Annual Meeting Date: 05/12/2004 Issuer: 648053 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------------ HIGHWOODS PROPERTIES, INC. HIW Annual Meeting Date: 05/18/2004 Issuer: 431284 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG Management For No LLP AS INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. 03 OTHER BUSINESS: IN HIS DISCRETION, THE PROXY Management Against Yes IS AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENTS THEREOF. - ------------------------------------------------------------------------------------------------------------------------------------ KILROY REALTY CORPORATION KRC Annual Meeting Date: 05/18/2004 Issuer: 49427F ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------------ ARCHSTONE-SMITH TRUST ASN Annual Meeting Date: 05/20/2004 Issuer: 039583 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF APPOINTMENT OF KPMG LLP AS AUDITORS Management For No FOR CURRENT FISCAL YEAR. 03 SHAREHOLDER PROPOSAL REGARDING SEVERANCE AGREEMENTS. Shareholder For Yes - ------------------------------------------------------------------------------------------------------------------------------------ MACK-CALI REALTY CORPORATION CLI Annual Meeting Date: 05/20/2004 Issuer: 554489 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS THE INDEPENDENT AUDITORS OF THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. 03 APPROVAL AND ADOPTION OF THE MACK-CALI REALTY Management For No CORPORATION 2004 INCENTIVE STOCK PLAN. 04 APPROVAL AND ADOPTION OF A SHAREHOLDER PROPOSAL, Shareholder Against No IF PRESENTED AT THE ANNUAL MEETING, REQUESTING THAT THE COMPANY IMPLEMENT A COMPREHENSIVE POLICY GOVERNING RELATED PARTY TRANSACTIONS. - ------------------------------------------------------------------------------------------------------------------------------------ GABLES RESIDENTIAL TRUST GBP Annual Meeting Date: 05/21/2004 Issuer: 362418 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO APPROVE THE GABLES RESIDENTIAL TRUST 2004 Management For No EQUITY INCENTIVE PLAN AUTHORIZING THE ISSUANCE OF UP TO 1,250,000 COMMON SHARES OF BENEFICIAL INTEREST. - ------------------------------------------------------------------------------------------------------------------------------------ VENTAS, INC. VTR Annual Meeting Date: 05/21/2004 Issuer: 92276F ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO RATIFY THE SELECTION OF ERNST & YOUNG LLP Management For No AS THE COMPANY S INDEPENDENT AUDITORS FOR FISCAL YEAR 2004. 03 TO ADOPT THE COMPANY S 2004 STOCK PLAN FOR DIRECTORS Management For No WHICH AMENDS AND RESTATES THE COMPANY S 2000 STOCK OPTION PLAN FOR DIRECTORS. - ------------------------------------------------------------------------------------------------------------------------------------ MID-AMERICA APARTMENT COMMUNITIES, I MAA Annual Meeting Date: 05/24/2004 Issuer: 59522J ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF KPMG LLP AS THE COMPANY S INDEPENDENT Management For No AUDITORS FOR 2004. 03 APPROVAL OF THE AMENDED AND RESTATED CHARTER. Management Against Yes 04 APPROVAL OF THE 2004 STOCK PLAN. Management For No - ------------------------------------------------------------------------------------------------------------------------------------ ISTAR FINANCIAL INC. SFI Annual Meeting Date: 05/25/2004 Issuer: 45031U ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 AUTHORIZATION OF ISSUANCE OF COMMON STOCK EQUIVALENTS Management For No TO DIRECTORS UNDER A NON-EMPLOYEE DIRECTORS DEFERRAL PROGRAM. 03 APPROVAL OF EXTENDING THE ISTAR FINANCIAL INC. Management For No HIGH PERFORMANCE UNIT PROGRAM TO ADD 2007 HPU PLAN AND 2008 HPU PLAN. 04 RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. - ------------------------------------------------------------------------------------------------------------------------------------ LEXINGTON CORPORATE PROPERTIES TRUST LXP Annual Meeting Date: 05/26/2004 Issuer: 529043 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO TRANSACT SUCH OTHER BUSINESS AS MAY PROPERLY Management Against Yes COME BEFORE THE 2004 ANNUAL MEETING. - ------------------------------------------------------------------------------------------------------------------------------------ EASTGROUP PROPERTIES, INC. EGP Annual Meeting Date: 05/27/2004 Issuer: 277276 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE EASTGROUP PROPERTIES, INC. Management For No 2004 EQUITY INCENTIVE PLAN. 03 IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED Management Against Yes TO VOTE UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENTS THEREOF. - ------------------------------------------------------------------------------------------------------------------------------------ THE MACERICH COMPANY MAC Annual Meeting Date: 05/28/2004 Issuer: 554382 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR THE YEAR ENDING DECEMBER 31, 2004. - ------------------------------------------------------------------------------------------------------------------------------------ KEYSTONE PROPERTY TRUST KTR Annual Meeting Date: 06/03/2004 Issuer: 493596 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 APPROVAL OF AMENDMENT TO THE COMPANY S DECLARATION Management For No OF TRUST TO DECLASSIFY THE BOARD OF TRUSTEES OVER A THREE-YEAR PERIOD. - ------------------------------------------------------------------------------------------------------------------------------------ KOGER EQUITY, INC. KE Annual Meeting Date: 06/03/2004 Issuer: 500228 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFY THE SELECTION OF DELOITTE & TOUCHE LLP Management For No AS INDEPENDENT ACCOUNTANTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. 03 APPROVE THE AMENDED AND RESTATED ARTICLES OF Management For No INCORPORATION TO CHANGE THE COMPANY S NAME TO CRT PROPERTIES, INC. 04 APPROVE THE COMPANY S PROPOSAL TO AMEND THE COMPANY Management For No S AMENDED AND RESTATED 1998 EQUITY AND CASH INCENTIVE PLAN TO AUTHORIZE GRANTS OF A NEW TYPE OF STOCK-BASED AWARD. - ------------------------------------------------------------------------------------------------------------------------------------ AMERICAN FINANCIAL REALTY TRUST AFR Annual Meeting Date: 06/09/2004 Issuer: 02607P ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------------ CRESCENT REAL ESTATE EQUITIES COMPAN CEI Annual Meeting Date: 06/28/2004 Issuer: 225756 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO APPROVE THE APPOINTMENT OF ERNST & YOUNG LLP Management For No AS THE INDEPENDENT AUDITORS OF THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004 SIGNATURES [See General Instruction F] Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Scudder RREEF Real Estate Fund, Inc. By (Signature and Title)* /s/Julian Sluyters ----------------------------------------------- Julian Sluyters, Chief Executive Officer Date 8/18/04 --------- * Print the name and title of each signing officer under his or her signature.