Certification Pursuant to Section 1350 of Chapter 63 of Title 18
                            of the United States Code


I, Ralph C. Eucher,  President of Principal Real Estate Fund, Inc., certify that
(i) the Form N-CSR for the period ended April 30, 2003 fully  complies  with the
requirements  of Section 13(a) or 15(d) of the  Securities  Exchange Act of 1934
and (ii) the information  contained in the Form N-CSR for the period ended April
30, 2003 fairly presents, in all material respects,  the financial condition and
results of operations of Principal Real Estate Fund, Inc.


Date: June 19, 2003                     /s/ Ralph C. Eucher
                                    -------------------------------
                                    Ralph C. Eucher
                                    President


        Certification Pursuant to Section 1350 of Chapter 63 of Title 18
                            of the United States Code




I, Jill R. Brown,  Vice President and Chief Financial  Officer of Principal Real
Estate  Fund,  Inc.,  certify that (i) the Form N-CSR for the period ended April
30, 2003 fully complies with the  requirements  of Section 13(a) or 15(d) of the
Securities  Exchange Act of 1934 and (ii) the information  contained in the Form
N-CSR for the period  ended  April 30,  2003 fairly  presents,  in all  material
respects,  the financial  condition and results of operations of Principal  Real
Estate Fund, Inc.


Date: June 19, 2003                     /s/ Jill R. Brown
                                    -------------------------------
                                    Jill R. Brown
                                    Vice President and Chief Financial Officer