Auction Rate Preferred Share Calculation

March 5, 2008

Over the past several days, the auction rate preferred share market has experienced a number of failed auctions across the industry. A number of Van Kampen closed-end funds (the “Funds”) that have outstanding series of auction preferred shares (“APS”) also have experienced failed auctions. These failed auctions are not defaults or credit events. There is no loss of capital and holders of APS continue to receive interest on their investment, currently at a pre-determined maximum rate. The Funds remain in compliance with all applicable asset coverage tests and the Funds continue to maintain the AAA/Aaa rating on their respective series of APS. Investors who purchase APS in future auctions should be aware of the possibility that a particular auction may fail and consequently investors may not be able to sell their shares on that auction date. The most current maximum applicable rates for the Funds' one week APS series are as indicated in the attached chart. Van Kampen continues to monitor developments in the auction market on a daily basis and is working with other market participants to find ways to restore liquidity to the APS market. Investors and potential investors are referred to further discussion on the closed-end section of the Van Kampen website.

Van Kampen Asset Management is a wholly owned subsidiary of Van Kampen Investments Inc. Van Kampen Investments Inc. is one of the nation’s largest investment management companies, with approximately $120 billion in assets under management or supervision, as of November 30, 2007. With roots in money management dating back to 1927, Van Kampen Investments Inc. has helped nearly four generations of investors achieve their financial goals.

Closed-End Funds	Ticker	Applicable Maximum Rate		Current Maximum Rate2
		Reference Rate	Maximum Rate Calculation1
Municipal Income Funds
Advantage Municipal Income Trust II	VKI	Higher of AA Composite Commercial Paper Rate or Adjusted Taxable Kenny rate (Taxable equivalent of the Kenny High Grade)	110% x reference rate	4.280%
California Value Municipal Income Trust	VCV	Higher of AA Composite Commercial Paper Rate or Adjusted Taxable Kenny rate (Taxable equivalent of the Kenny High Grade)	110% x reference rate	4.508%
High Income Trust II	VLT	Higher of AA Composite Commercial Paper Rate, Treasury Rate, 10-year Constant Maturity Rate or 30-year Constant Maturity Rate	150% x reference rate	6.900%
Massachusetts Value Municipal Income Trust	VMV	Higher of AA Composite Commercial Paper Rate or Adjusted Taxable Kenny rate (Taxable equivalent of the Kenny High Grade)	110% x reference rate	4.189%
Municipal Opportunity Trust	VMO	AA Composite Commercial Paper Rate	110% x reference rate	3.088%
Municipal Trust	VKQ	AA Composite Commercial Paper Rate	110% x reference rate	3.210%
Ohio Quality Municipal Income Trust	VOQ	AA Composite Commercial Paper Rate	110% x reference rate	3.342%
Pennsylvania Value Municipal Income Trust	VPV	Higher of AA Composite Commercial Paper Rate or Adjusted Taxable Kenny rate (Taxable equivalent of the Kenny High Grade)	110% x reference rate	4.356%
Select Sector Municipal Income Trust	VKL	Higher of AA Composite Commercial Paper Rate or Adjusted Taxable Kenny rate (Taxable equivalent of the Kenny High Grade)	110% x reference rate	4.508%
Senior Income Trust	VVR	LIBOR Rate for a Dividend Period of fewer than 184 days or the Treasury Index Rate for a Dividend Period of 184 days or more	150% x reference rate	4.702%
Trust for Insured Municipals	VIM	AA Composite Commercial Paper Rate	110% x reference rate	3.364%
Trust for Investment Grade NJ Municipals	VTJ	AA Composite Commercial Paper Rate	110% x reference rate	3.320%
Trust for Investment Grade NY Municipals	VTN	AA Composite Commercial Paper Rate	110% x reference rate	3.221%
Trust for Investment Grade Municipals	VGM	AA Composite Commercial Paper Rate	110% x reference rate	3.088%

¹ At current rate for the APS

² Based on most recent auction through March 3, 2008

If you hold your closed end fund shares in your own name, not through a brokerage firm, you can access your accounts directly.