Van Kampen Municipal Closed-end Funds Announce At Par Redemptions of
Preferred Shares
CHICAGO (June 13, 2008) – The Van Kampen Municipal Closed-End Funds (“Funds”) listed below hereby announce the dates for the partial redemptions of their respective preferred shares. The announced partial redemptions total $506.5 million of the total outstanding preferred shares issued by the Funds.
This redemption announcement follows the May 9, 2008 press release in which Van Kampen provided initial information regarding refinancing a portion of the Funds’ preferred shares with the use of tender option bonds (TOBs). In light of the continued failed auctions, each Fund’s Board of Trustees approved the use of TOBs as a replacement source of leverage.
The amount of preferred shares being redeemed at this time varies by Fund and ranges from 10 percent to 20 percent of the preferred shares outstanding for each Fund based on a number of factors, including the interests of the common shareholders, the availability of high quality municipal bonds at certain yield levels to be transferred to the trust structure and the ability to secure liquidity providers for the put feature.
With respect to this partial redemption, The Depository Trust Company (DTC), the securities’ holder of record, will determine how the partial series redemptions will be allocated among each participant broker-dealer account. Each participant broker-dealer, as nominee for underlying beneficial owners (street name shareholders), in turn will determine how redeemed shares are to be allocated among its underlying beneficial owners. The procedures used by various broker-dealers to allocate redeemed shares among beneficial owners may differ from each other as well as from the procedures used by DTC.
Redemption Schedule
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
921-12K-206 |
320 |
$8,000,000 |
July 3, 2008 |
|
B |
921-12K-305 |
320 |
$8,000,000 |
July 7, 2008 |
|
C |
921-12K-404 |
320 |
$8,000,000 |
July 3, 2008 |
|
D |
921-12K-503 |
320 |
$8,000,000 |
July 2, 2008 |
|
E |
921-12K-602 |
280 |
$7,000,000 |
July 7, 2008 |
|
F |
921-12K-701 |
400 |
$10,000,000 |
July 1, 2008 |
|
G |
921-12K-800 |
400 |
$10,000,000 |
June 30, 2008 |
|
H |
921-12K-883 |
400 |
$10,000,000 |
July 22, 2008 |
|
I |
921-12K-875 |
400 |
$10,000,000 |
July 7, 2008 |
|
J |
921-12K-867 |
200 |
$5,000,000 |
July 8, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
921-12B-206 |
480 |
$12,000,000 |
July 1, 2008 |
|
B |
921-12B-305 |
600 |
$15,000,000 |
June 30, 2008 |
|
C |
921-12B-404 |
360 |
$9,000,000 |
July 22, 2008 |
|
D |
921-12B-503 |
160 |
$4,000,000 |
July 14, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
F7 |
921-12R-201 |
100 |
$2,500,000 |
July 2, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
920-935-202 |
600 |
$15,000,000 |
July 21, 2008 |
|
B |
920-935-301 |
600 |
$15,000,000 |
July 16, 2008 |
|
C |
920-935-400 |
400 |
$10,000,000 |
July 30, 2008 |
|
D |
920-935-509 |
400 |
$10,000,000 |
July 16, 2008 |
|
E |
920-935-608 |
400 |
$10,000,000 |
July 25, 2008 |
|
F |
920-935-707 |
320 |
$8,000,000 |
July 30, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
920-919-206 |
600 |
$15,000,000 |
July 3, 2008 |
|
B |
920-919-305 |
600 |
$15,000,000 |
July 7, 2008 |
|
C |
920-919-404 |
600 |
$15,000,000 |
July 1, 2008 |
|
D |
920-919-503 |
600 |
$15,000,000 |
July 1, 2008 |
|
E |
920-919-602 |
200 |
$5,000,000 |
June 30, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
920-923-208 |
280 |
$7,000,000 |
July 16, 2008 |
|
B |
920-923-307 |
120 |
$3,000,000 |
July 2, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
921-12T-207 |
360 |
$9,000,000 |
July 1, 2008 |
|
B |
921-12T-306 |
320 |
$8,000,000 |
July 9, 2008 |
|
C |
921-12T-405 |
520 |
$13,000,000 |
July 1, 2008 |
|
D |
921-12T-504 |
560 |
$14,000,000 |
July 18, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
921-12M-202 |
136 |
$3,400,000 |
July 3, 2008 |
|
B |
921-12M-301 |
136 |
$3,400,000 |
July 11, 2008 |
|
C |
921-12M-400 |
400 |
$10,000,000 |
July 23, 2008 |
|
D |
921-12M-509 |
360 |
$9,000,000 |
July 24, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
920-928-207 |
360 |
$9,000,000 |
July 9, 2008 |
|
B |
920-928-306 |
360 |
$9,000,000 |
July 8, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
920-929-205 |
600 |
$15,000,000 |
July 2, 2008 |
|
B |
920-929-304 |
600 |
$15,000,000 |
July 10, 2008 |
|
C |
920-929-403 |
600 |
$15,000,000 |
July 15, 2008 |
|
D |
920-929-502 |
320 |
$8,000,000 |
July 21, 2008 |
|
E |
920-929-601 |
440 |
$11,000,000 |
July 2, 2008 |
|
F |
920-929-700 |
440 |
$11,000,000 |
July 10, 2008 |
|
G |
920-929-809 |
440 |
$11,000,000 |
July 17, 2008 |
|
H |
920-929-882 |
448 |
$11,000,000 |
July 15, 2008 |
|
I |
920-929-874 |
400 |
$10,000,000 |
July 8, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
T7 |
920-933-207 |
520 |
$13,000,000 |
July 2, 2008 |
|
Series
 |
CUSIP Number |
# of Shares Redeemed |
Amount Redeemed |
Redemption Date |
|
A |
920-931-201 |
480 |
$12,000,000 |
July 1, 2008 |
|
B |
920-931-300 |
360 |
$9,000,000 |
July 3, 2008 |
|
C |
920-931-409 |
320 |
$8,000,000 |
July 1, 2008 |
Van Kampen Asset Management, the Funds' investment adviser, is a wholly owned subsidiary of Van Kampen Investments Inc. (“Van Kampen”). Van Kampen is one of the nation’s largest investment management companies, with approximately $107 billion in assets under management or supervision, as of February 29, 2008. With roots in money management dating back to 1927, Van Kampen has helped nearly four generations of investors achieve their financial goals.
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