RCR Rmr Div Cptre FD Common Shrs

RMR Funds today provided an update regarding the previously announced suspensions of distributions to common shareholders of the following funds: RMR Real Estate Fund (AMEX: RMR) RMR Hospitality and Real Estate Fund (AMEX: RHR) RMR F.I.R.E. Fund (AMEX: RFR) RMR Preferred Dividend Fund (AMEX: RDR) RMR Dividend Capture Fund (AMEX: RCR) On October 16, 2008, RMR Funds announced that payments of distributions to common shareholders of these funds would be suspended until further notice. In order for each fund to consider resuming distributions to common shareholders, each fund will use cash to redeem outstanding preferred shares to a level at which total assets of each fund is at least equal to 200% of the liquidation preference value of each fund�s outstanding preferred shares as required by the Investment Company Act of 1940 (the �1940 Act�) and to meet other criteria established by each fund�s bylaws. Since the October 16th announcement, market conditions affecting the securities in which these funds are invested have generally not improved, but rather have generally deteriorated. Accordingly, in order to improve these funds� financial ratios, these funds have been selling securities in an orderly fashion and preparing to redeem substantial amounts of their outstanding preferred shares. As of the market close on Friday, November 7, 2008, the status of these efforts is as follows: Fund � Total Assets (including cash and investment securities) � Outstanding Preferred Shares (liquidation preference value) � Cash and Receivables from Asset Sales (included in total assets) � Estimated Additional Cash Required to Redeem Preferred Shares to Meet Financial Ratios (including bylaws requirements) RMR � $85,218,610 � $50,000,000 � $16,860,291 � $0 RHR � $41,154,850 � $28,000,000 � $6,662,286 � $8,237,714 RFR � $16,310,152 � $10,800,000 � $2,603,240 � $2,696,760 RDR � $23,256,484 � $14,300,000 � $2,301,809 � $2,998,191 RCR � $17,108,790 � $10,000,000 � $3,658,254 � $0 Because market conditions remain extremely volatile, each fund expects to redeem preferred shares in excess of the amounts required to meet the minimum financial ratios and criteria established by each fund�s bylaws. The amounts of securities which each fund will sell, the amount of preferred shares which each fund will redeem and the amounts of future distributions to common shareholders of each fund which may be established in the future have not been determined at this time. RMR Funds expect to provide an update on these matters, including the amounts and timing of future distributions to common shareholders, before the end of November 2008. WARNING REGARDING FORWARD LOOKING STATEMENTS THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND THE FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON THE RMR FUNDS� PRESENT BELIEFS AND EXPECTATIONS, BUT THEY ARE NOT GUARANTEED TO OCCUR AND THEY MAY NOT OCCUR FOR VARIOUS REASONS, INCLUDING SOME REASONS WHICH ARE BEYOND THE CONTROL OF THE CONCERNED RMR FUNDS. FOR EXAMPLE: THIS PRESS RELEASE STATES THAT CERTAIN RMR FUNDS HAVE SUSPENDED THEIR DISTRIBUTIONS TO COMMON SHAREHOLDERS. AN IMPLICATION OF THIS STATEMENT MAY BE THAT DISTRIBUTIONS WILL BE RESUMED AT HISTORICAL RATES. IN FACT, THERE CAN BE NO ASSURANCE THAT THE AFFECTED FUNDS WILL RESUME DISTRIBUTIONS TO COMMON SHAREHOLDERS OR THE AMOUNTS OF ANY SUCH DISTRIBUTIONS. THIS PRESS RELEASE STATES THE AMOUNT OF TOTAL ASSETS, THE LIQUIDATION PREFERENCE VALUE OF OUTSTANDING PREFERRED SHARES, THE CASH INCLUDED IN TOTAL ASSETS AND ADDITIONAL CASH REQUIRED TO MEET MINIMUM FINANCIAL RATIOS IN EACH OF THE AFFECTED FUNDS AS OF THE CLOSE OF BUSINESS ON NOVEMBER 7, 2008. AN IMPLICATION OF THESE STATEMENTS MAY BE THAT EACH FUND WILL BE ABLE TO REDEEM SUFFICIENT OUTSTANDING PREFERRED SHARES BY SELLING ASSETS AND USING THE CASH PROCEEDS OF THOSE SALES PLUS THE CASH ON HAND TO REDEEM SOME OR ALL OF THE PREFERRED SHARES IN EACH FUND IN ORDER TO MEET THE RATIOS REQUIRED TO RESUME DISTRIBUTIONS TO COMMONS SHAREHOLDERS. IN FACT, THE VALUES OF THE AFFECTED FUNDS� TOTAL ASSETS CHANGE BASED UPON THE CHANGING MARKET VALUES OF THE SECURITIES HELD BY EACH FUND AND THE VALUE OF THESE SECURITIES HAS BEEN DETERIORATING. ACCORDINGLY, THE MINIMUM AMOUNTS OF SECURITIES REQUIRED TO BE SOLD CAN NOT BE DETERMINED UNTIL THE SALES ARE COMPLETED, AND THE TOTAL ASSETS WHICH MAY REMAIN IN EACH FUND AFTER SECURITIES ARE SOLD TO REDEEM SOME OR ALL OF THE AFFECTED FUNDS� OUTSTANDING PREFERRED SHARES CAN ONLY BE DETERMINED ON A BASIS WHICH CHANGES WITH MARKET CONDITIONS. THIS PRESS RELEASE STATES THAT RMR FUNDS INTEND TO PROVIDE A FURTHER UPDATE, INCLUDING THE AMOUNTS AND TIMING OF FUTURE DISTRIBUTIONS, BY THE END OF NOVEMBER 2008. THE IMPLICATIONS OF THIS STATEMENT MAY BE THAT EACH FUND WILL COMPLETE ALL ITS SECURITIES SALES IN NOVEMBER AND BEGIN PAYING DISTRIBUTIONS THEREAFTER. IN FACT, THE AMOUNT OF INVESTMENT SECURITIES WHICH EACH FUND WILL SELL, THE TIMING OF SUCH SALES AND THE AMOUNTS AND TIMING OF FUTURE DISTRIBUTIONS CAN NOT BE DETERMINED AT THIS TIME. FOR THESE AND OTHER REASONS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE.