VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST ANNOUNCES COMPLETION OF REORGANIZATION WITH VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST

January 30, 2006

Van Kampen Asset Management announced today that the proposed reorganization of Van Kampen Advantage Municipal Income Trust (NYSE/CHX: VKA) into Van Kampen Municipal Opportunity Trust (NYSE/CHX: VMO) has been completed. In the reorganization, shareholders of VKA received newly issued shares of VMO. The conversion exchange rate (the rate by which one multiplies the amount of VKA common shares to determine the number of VMO common shares issued as part of the reorganization) was 0.984721, and the exchange ratio between preferred shares of VKA and preferred shares of VMO was one VKA preferred share into one VMO preferred share.

Van Kampen Asset Management is a subsidiary of Van Kampen Investments Inc. (“Van Kampen”). Van Kampen is one of the nation’s largest investment management companies, with more than $107 billion in assets under management or supervision, as of December 31, 2005. With roots in money management dating back to 1927, Van Kampen has helped more than four generations of investors work toward their financial goals. Van Kampen is an indirect wholly-owned subsidiary of Morgan Stanley (NYSE: MS).

There is no assurance that the Fund will achieve its investment objective. An investment in the Fund should be made with an understanding of the risks of investment primarily in debt securities. The Fund is subject to the market risks, credit risks, and income risks which generally are affected by changes in interest rates and credit qualities. Accordingly, you can lose money investing in the Fund. The Fund may invest in derivative instruments, which may magnify volatility.