Time-resolved photoluminescence studies have been performed on (Cd,Zn)O/(Mg,Zn)O multiquantum wells, which are almost perfectly lattice matched (0.034%), grown by laser molecular-beam epitaxy on a ScAlMgO4 substrate. Radiative recombination of excitons in the wells exhibits a significant spectral distribution of times. This distribution was interpreted in terms of localization of excitons by potential fluctuations due to alloy disorder and to well width and depth variations. The temperature dependence of the radiative lifetime of excitons was deduced from the measurement of both the photoluminescence decay time and intensity. We found that the radiative lifetime increases linearly with temperature, showing a two-dimensional feature of excitons in the quantum wells.