RHR Rmr Hospitality And Real Estate Fund

Tom O�Brien, President of RMR Hospitality and Real Estate Fund (AMEX: RHR), acting on behalf of RHR and its unanimous Board of Trustees, today sent the following letter to RHR shareholders: Dear Shareholders: Your vote at the March 8, 2007 Annual Meeting is important. Whether or not you have previously done so, please vote by following the instructions on the enclosed BLUE proxy card; only the most recent dated proxy counts. Phillip Goldstein and his �Bulldog� hedge fund are trying to take control of your company. IF GOLDSTEIN WINS, YOU LOSE: Preferred shareholders may get their money back, but they will lose the right to continue investing in the weekly rollovers. Goldstein�s promise to pay common shareholders a slight premium to the current market price is conditioned on terms he knows can�t be satisfied. Moreover, even if Goldstein were to keep his promise, common shareholders will lose the right to continue receiving the high levels of monthly dividends which our Company now pays. It does not make sense to let Goldstein and his hedge fund colleagues destroy your company so he can make a quick profit and then move to his next target. Please vote your BLUE proxy today. Sincerely, Thomas M. O�Brien President