Van Kampen Auction Rate Preferred Shares Update

CHICAGO (April 4, 2008) - Van Kampen is closely monitoring the situation relating to the lack of liquidity of closed end fund preferred shares, which enable the funds to use leverage to acquire assets. While the prospectus under which these shares were sold disclosed and contemplated a potential loss of liquidity, we realize that this market imbalance has created challenges for preferred stockholders and their financial advisors.

We have been evaluating all potential solutions that will enable preferred shareholders to achieve liquidity and maintain leverage for the benefit of the common shareholders. Specifically, we are examining options that would make preferred shares eligible for purchase by money market funds, as well as exploring the viability arranging for debt financing that would enable our taxable funds to redeem at least a portion of their preferred shares. We are working closely with the Investment Company Institute to monitor industry developments, and have met with regulators to discuss possible avenues of relief that might increase our flexibility in this regard.

This is, however, a complex issue that will take some time to resolve. Whatever steps we take must account for the interests of both common stockholders as well as holders of the preferred stock, and navigate among many regulatory and tax requirements. At this time, we can provide no definitive assurance regarding the form and timing of a solution. We do, however, realize that a swift remedy to this situation is in everyone’s best interest, and we assure you that we are dedicating significant resources to finding a solution.