SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
Filed by the Co-Registrants [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement [ ] Confidential, for Use of the Com-
mission Only (as permitted
by
Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
VAN KAMPEN HIGH INCOME TRUST
VAN KAMPEN HIGH INCOME TRUST II
VAN KAMPEN INVESTMENT GRADE MUNICIPAL TRUST
VAN KAMPEN MUNICIPAL TRUST
VAN KAMPEN CALIFORNIA QUALITY MUNICIPAL TRUST
VAN KAMPEN NEW YORK QUALITY MUNICIPAL TRUST
VAN KAMPEN PENNSYLVANIA QUALITY MUNICIPAL TRUST
VAN KAMPEN FLORIDA QUALITY MUNICIPAL TRUST
VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST
VAN KAMPEN TRUST FOR INSURED MUNICIPALS
VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS
VAN KAMPEN TRUST FOR INVESTMENT GRADE CALIFORNIA MUNICIPALS
VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS
VAN KAMPEN TRUST FOR INVESTMENT GRADE PENNSYLVANIA MUNICIPALS
VAN KAMPEN TRUST FOR INVESTMENT GRADE FLORIDA MUNICIPALS
VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY MUNICIPALS
VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST
VAN KAMPEN ADVANTAGE PENNSYLVANIA MUNICIPAL INCOME TRUST
VAN KAMPEN VALUE MUNICIPAL INCOME TRUST
VAN KAMPEN OHIO VALUE MUNICIPAL INCOME TRUST
VAN KAMPEN MASSACHUSETTS VALUE MUNICIPAL INCOME TRUST
VAN KAMPEN NEW YORK VALUE MUNICIPAL INCOME TRUST
VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST II
VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II
VAN KAMPEN SELECT SECTOR MUNICIPAL TRUST
VAN KAMPEN STRATEGIC SECTOR MUNICIPAL TRUST
VAN KAMPEN MUNICIPAL INCOME TRUST
VAN KAMPEN CALIFORNIA MUNICIPAL TRUST
VAN KAMPEN SENIOR INCOME TRUST
VAN KAMPEN BOND FUND
VAN KAMPEN INCOME TRUST
(Names of Co-Registrants as Specified in Their Charters)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed per Exchange Act Rules 14a-6(i)(1) and 0-11.
[ ] Fee paid previously with preliminary materials.
-- MAY 2002 --
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IMPORTANT NOTICE
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TO VAN KAMPEN
CLOSED-END FUND SHAREHOLDERS
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QUESTIONS & ANSWERS
- ---------------------------------------
Although we recommend that you read the complete proxy statement, for your
convenience, we've provided a brief overview of the issues to be voted on.
- ---------------------------------------
Q WHY IS A SHAREHOLDER MEETING BEING HELD?
A Because each Van Kampen closed-end fund is traded on a nationally
recognized stock exchange and is required to hold an annual meeting of
shareholders.
Q WHAT PROPOSAL WILL BE VOTED ON?
A You are being asked to elect nominees for the Board of Trustees.
Q WILL MY VOTE MAKE A DIFFERENCE?
A Yes! Your vote is important and will make a difference in the
developments of your fund(s), no matter how many shares you own.
Q HOW DOES THE BOARD OF TRUSTEES RECOMMEND THAT I VOTE?
A They recommend that you vote "For All" of the nominees on the enclosed
proxy card.
Q WHY DOES THE PROXY STATEMENT LIST SEVERAL CLOSED-END FUNDS?
A The funds have a similar proposal and it is cost-efficient to have a
joint proxy statement and one meeting.
Q WHERE DO I CALL FOR MORE INFORMATION?
A Please call Van Kampen Investor Services at 1-800-341-2929 from 7:30
a.m. to 5:00 p.m. Central time, Monday through Friday.
ABOUT THE PROXY CARD
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Please vote on each issue using blue or black ink to mark an X in one of the
boxes provided on the proxy card.
ELECTION OF TRUSTEES - mark "For All," "Withhold" or "For All Except."
To withhold authority to vote for any one or more individual nominee(s), check
"For All Except" and write the nominee's name in the line below.
Sign, date and return the proxy card in the enclosed postage-paid envelope. All
registered owners of an account, as shown in the address, must sign the card.
When signing as attorney, trustee, executor, administrator, custodian, guardian
or corporate officer, please indicate your full title.
<Table>
[ ] PLEASE MARK
X VOTES AS IN
THIS EXAMPLE
</Table>
VAN KAMPEN XXXXX
JOINT ANNUAL MEETING OF SHAREHOLDERS
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
<Table>
<Caption>
FOR ALL
FOR ALL WITHHOLD EXCEPT
1. Authority to vote [ ] [ ] [ ] 2. To transact such other business as may properly
for the election as come before the Meeting.
Class X Trustees
the nominees named
below:
XXXXXXXXX, XXXXXXXXX, XXXXXXXXX
To withhold authority to vote for any one or more
individual nominee check "For All Except" and write
the
nominee's name on the line below.
----------------------------------
</Table>
Please be sure to sign and date this Proxy, Date
Shareholder sign here Co-owner sign here
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
SAMPLE
VAN KAMPEN CLOSED-END FUNDS
1 PARKVIEW PLAZA
OAKBROOK TERRACE, ILLINOIS 60181-5555
TELEPHONE (800) 341-2929
NOTICE OF JOINT ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD JUNE 12, 2002
Notice is hereby given to the holders of common shares of beneficial interest
("Common Shares") and, where applicable, the holders of preferred shares of
beneficial interest (the "Preferred Shares") of each of the Van Kampen Closed-
End Funds listed on Annex A (the "Funds") to the attached Proxy Statement that a
Joint Annual Meeting of the Shareholders of the Funds (the "Meeting") will be
held at the offices of Van Kampen Investments Inc., 1 Parkview Plaza, Oakbrook
Terrace, Illinois 60181-5555, on Wednesday, June 12, 2002, at 3:00 p.m., for the
following purposes:
<Table>
1. To elect trustees in the following manner:
A. With respect to VGM, VTJ, VKA, VFM, VIM, VTN, VAP, VOQ,
VIC, VTP, VKQ, VNM, VTF, VMO, VQC, VPQ, VLT, VIT, VMT,
VKC, VVR and VBF, to elect two Class I trustees by the
holders of the Common Shares of each Fund. Each elected
trustee will serve for a three year term or until a
successor shall have been duly elected and qualified.
B. With respect to VKL, to elect two Class II trustees, one
by the holders of the Common Shares of the Fund and one by
the holders of the Preferred Shares of the Fund. The
Common Shares and the Preferred Shares of the Fund will
vote as separate classes. Each elected trustee will serve
for a three year term or until a successor shall have
been duly elected and qualified.
C. With respect to VIG, VNV, VKI, VKV, VOV, VCV, VPV, VMV,
VKS and VOT, to elect three Class III trustees, two by the
holders of the Common Shares of each Fund and one by the
holders of the Preferred Shares of each Fund. The Common
Shares and the Preferred Shares of each Fund will vote as
separate classes. Each elected trustee will serve for a
three year term or until a successor shall have been duly
elected and qualified.
</Table>
<Table>
D. With respect to VIN, to elect two Class II trustees by the holders of
the Common Shares of the Fund. Each elected trustee will serve for a
three year term or until a successor shall have been elected and
qualified.
2. To transact such other business as may properly come before the Meeting
or any adjournments thereof.
</Table>
Holders of record of the Common Shares and, where applicable, Preferred Shares
of each Fund at the close of business on April 12, 2002 are entitled to notice
of, and to vote at, the Meeting and any adjournment thereof.
By order of the Board of Trustees
A. THOMAS SMITH III,
Vice President and Secretary
May 3, 2002
EACH FUND WILL FURNISH, WITHOUT CHARGE, A COPY OF ITS MOST RECENT ANNUAL
REPORT (AND THE MOST RECENT SEMI-ANNUAL REPORT SUCCEEDING THE ANNUAL REPORT, IF
ANY) TO A SHAREHOLDER UPON REQUEST. ANY SUCH REQUEST SHOULD BE DIRECTED TO THE
RESPECTIVE FUND BY CALLING 1-800-341-2929 OR BY WRITING TO THE RESPECTIVE FUND
AT 1 PARKVIEW PLAZA, PO BOX 5555, OAKBROOK TERRACE, ILLINOIS 60181-5555.
SHAREHOLDERS OF THE FUNDS ARE INVITED TO ATTEND THE MEETING IN PERSON. IF YOU
DO NOT EXPECT TO ATTEND THE MEETING, PLEASE INDICATE YOUR VOTING INSTRUCTIONS ON
THE ENCLOSED PROXY CARD WITH RESPECT TO EACH FUND IN WHICH YOU WERE A
SHAREHOLDER AS OF THE RECORD DATE, DATE AND SIGN SUCH PROXY CARD(S), AND RETURN
IT (THEM) IN THE ENVELOPE PROVIDED, WHICH IS ADDRESSED FOR YOUR CONVENIENCE AND
NEEDS NO POSTAGE IF MAILED IN THE UNITED STATES.
IN ORDER TO AVOID THE ADDITIONAL EXPENSE OF FURTHER SOLICITATION, WE ASK THAT
YOU MAIL YOUR PROXY PROMPTLY.
The Board of Trustees of each Fund recommends that you cast your vote:
- FOR ALL of the nominees for the Board of Trustees of each Fund listed in the
Proxy Statement.
YOUR VOTE IS IMPORTANT.
PLEASE RETURN YOUR PROXY CARD(S) PROMPTLY
NO MATTER HOW MANY SHARES YOU OWN.
PROXY STATEMENT
VAN KAMPEN CLOSED-END FUNDS
1 PARKVIEW PLAZA
OAKBROOK TERRACE, ILLINOIS 60181-5555
TELEPHONE (800) 341-2929
JOINT ANNUAL MEETING OF SHAREHOLDERS
JUNE 12, 2002
This Proxy Statement is furnished in connection with the solicitation by the
respective Board of Trustees (the "Trustees" or the "Board") of each of the Van
Kampen Closed-End Funds listed on Annex A to this Proxy Statement (the "Funds")
of proxies to be voted at a Joint Annual Meeting of Shareholders of the Funds,
and all adjournments thereof (the "Meeting"), to be held at the offices of Van
Kampen Investments Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois
60181-5555, on Wednesday, June 12, 2002, at 3:00 p.m. The Meeting will be an
annual meeting for each Fund. The approximate mailing date of this Proxy
Statement and accompanying form of proxy is May 10, 2002.
Participating in the Meeting are holders of common shares of beneficial
interest (the "Common Shares") and, where applicable, the holders of preferred
shares of beneficial interest (the "Preferred Shares") of each of the Funds as
set forth in Annex A to this Proxy Statement. The Common Shares and the
Preferred Shares of the Funds sometimes are referred to herein collectively as
the "Shares." The Meeting is scheduled as a joint meeting of the shareholders of
the Funds because the shareholders of the Funds are expected to consider and
vote on a similar matter. The Boards of Trustees have determined that the use of
a joint proxy statement for the Meeting is in the best interest of the
shareholders of each of the Funds. In the event that a shareholder of any Fund
present at the Meeting objects to the holding of a joint meeting and moves for
an adjournment of the meeting of such Fund to a time immediately after the
Meeting so that such Fund's meeting may be held separately, the persons named as
proxies will vote in favor of the adjournment.
Annex A lists the abbreviated name and stock symbol by which the Funds
sometimes are referred to in this proxy statement. Please refer to Annex A for
any questions you may have regarding whether your Fund is participating at the
Meeting, defined terms relating to the Funds and abbreviated Fund names.
The Board has fixed the close of business on April 12, 2002 as the record date
(the "Record Date") for the determination of holders of Shares of each Fund
entitled to vote at the Meeting. The number of issued and outstanding Common
Shares and, where applicable, Preferred Shares of each Fund as of the Record
Date is shown in Annex B to this Proxy Statement.
The following table summarizes the proposal to be presented at the Meeting for
the Funds and the shareholders entitled to vote with respect to the proposal.
<Table>
<Caption>
PROPOSAL/AFFECTED FUNDS AFFECTED SHAREHOLDERS
----------------------- ---------------------
1. ELECTION OF TRUSTEES:
(a) With respect to VGM, VTJ, VKA, VFM, VIM, VTN, VAP,
VOQ, VIC, VTP, VKQ, VNM, VTF, VMO VQC, VPQ, VLT,
VIT, VMT, VKC, VVR and VBF, to elect two Class I
trustees
-- two trustees by holders of Common Shares Common Shares
(b) With respect to VKL, to elect two
Class II trustees
-- one trustee by holders of Common Shares Common Shares
-- one trustee by holders of Preferred Shares Preferred Shares
(c) With respect to VIG, VNV, VKI, VKV, VOV, VCV, VPV,
VMV, VKS and VOT, to elect three Class III trustees
-- two trustees by holders of Common Shares Common Shares
-- one trustee by holders of Preferred Shares Preferred Shares
(d) With respect to VIN, to elect two
Class II trustees
-- two trustees by holders of Common Shares Common Shares
</Table>
EACH FUND WILL FURNISH, WITHOUT CHARGE, A COPY OF ITS MOST RECENT ANNUAL
REPORT (AND THE MOST RECENT SEMI-ANNUAL REPORT SUCCEEDING THE ANNUAL REPORT, IF
ANY) TO A SHAREHOLDER UPON REQUEST. ANY SUCH REQUEST SHOULD BE DIRECTED TO THE
RESPECTIVE FUND BY CALLING 1-800-341-2929 OR BY WRITING TO THE RESPECTIVE FUND
AT 1 PARKVIEW PLAZA, PO BOX 5555, OAKBROOK TERRACE, ILLINOIS 60181-5555.
VOTING
Shareholders of a Fund on the Record Date are entitled to one vote per Share
with respect to any proposal submitted to the shareholders of the Fund, with no
Share having cumulative voting rights. The voting requirement for passage of a
particular proposal depends on the nature of the proposal.
With respect to Proposal 1, holders of Common Shares and Preferred Shares,
where applicable, will vote as separate classes for the respective nominee(s) to
be elected by such class of Shares. The affirmative vote of a plurality of the
Common Shares of a Fund present at the Meeting in person or by proxy is required
to elect each nominee for Trustee of such Fund designated to be elected by the
holders of the Common Shares of such Fund. The affirmative vote of a plurality
of the Preferred Shares of a Fund present at the Meeting in person or by proxy
is required to elect each nominee for Trustee of such Fund designated to be
elected by the
2
holders of the Preferred Shares of such Fund. Election by plurality means those
persons who receive the highest number of votes cast "FOR" up to the total
number of persons to be elected as trustees at the Meeting shall be elected.
The Board of Trustees of each Fund recommends that you cast your vote:
- FOR ALL of the nominees for the Board of Trustees of each Fund listed in the
proxy statement.
An unfavorable vote on a proposal by the shareholders of one Fund will not
affect the implementation of such a proposal by another Fund, if the proposal is
approved by the shareholders of the other Fund. An unfavorable vote on a
proposal by the shareholders of a Fund will not affect such Fund's
implementation of other proposals that receive a favorable vote. There is no
cumulative voting with respect to the election of Trustees.
All properly executed proxies received prior to the Meeting will be voted at
the Meeting in accordance with the instructions marked thereon. Proxies received
prior to the Meeting on which no vote is indicated will be voted "FOR" each
proposal as to which it is entitled to vote. Abstentions and broker non-votes
(i.e., where a nominee, such as a broker, holding shares for beneficial owners
indicates that instructions have not been received from the beneficial owners
and the nominee does not exercise discretionary authority) are not treated as
votes "FOR" a proposal. With respect to Proposal 1, abstentions and non-votes
are disregarded since only votes "FOR" are considered in a plurality voting
requirement. A majority of the outstanding Shares of a Fund entitled to vote
must be present in person or by proxy to have a quorum for such Fund to conduct
business at the Meeting. Abstentions and broker non-votes will be deemed present
for quorum purposes.
Shareholders who execute proxies may revoke them at any time before they are
voted by filing with the respective Fund a written notice of revocation, by
delivering a duly executed proxy bearing a later date or by attending the
Meeting and voting in person.
The Funds know of no business other than that mentioned in Proposal 1 of the
Notice that will be presented for consideration at the Meeting. If any other
matters are properly presented, it is the intention of the persons named on the
enclosed proxy to vote proxies in accordance with their best judgment. In the
event a quorum is present at the Meeting but sufficient votes to approve any of
the proposals with respect to one or more Funds or proposals are not received,
the persons named as proxies may propose one or more adjournments of the Meeting
of the concerned Fund with respect to such proposal to permit further
solicitation of proxies, provided they determine that such an adjournment and
additional solicitation is reasonable and in the interest of shareholders based
on a consideration of all relevant factors, including the nature of the relevant
proposal, the percentage of votes then cast, the percentage of negative votes
then cast,
3
the nature of the proposed solicitation activities and the nature of the reasons
for such further solicitation.
INVESTMENT ADVISER
Van Kampen Investment Advisory Corp. ("Advisory Corp.") serves as investment
adviser to each Fund, except VBF and VIN. Van Kampen Asset Management Inc.
("Asset Management") serves as investment adviser to VBF and VIN. Advisory Corp.
and Asset Management sometimes are referred to herein collectively as the
"Advisers." The principal business address of the Advisers is 1 Parkview Plaza,
Oakbrook Terrace, Illinois 60181-5555. The Advisers are wholly owned
subsidiaries of Van Kampen Investments Inc. ("Van Kampen"). Van Kampen is one of
the nation's largest investment management companies, with more than $74 billion
in assets under management or supervision, as of March 31, 2002. With roots in
money management dating back to 1927, Van Kampen has helped more than four
generations of investors achieve their financial goals. Headquartered in the
Chicagoland area, Van Kampen is a wholly owned subsidiary of Morgan Stanley Dean
Witter & Co. ("Morgan Stanley").
OTHER SERVICE PROVIDERS
Each Fund, except VBF, VIN, VVR, VKL, VMT, VKC, VIG, VLT and VIT, has entered
into an administration agreement between such Fund and Van Kampen Funds Inc. (in
such capacity, the "Administrator"). The Administrator's principal business
address is 1 Parkview Plaza, Oakbrook Terrace, Illinois 60181-5555. The
Administrator is a wholly owned subsidiary of Van Kampen. VVR has entered into
an administration agreement between such Fund and Van Kampen. With respect to
VKS, the Administrator has engaged Brinson Advisers Inc. (formerly Mitchell
Hutchins Asset Management Inc.) to act as a sub-administrator (the "Sub-
Administrator"). The Sub-Administrator's principal place of business is 1285
Avenue of the Americas, New York, New York 10019. With respect to VKL, Advisory
Corp. and the Fund have entered into an administration agreement with Princeton
Administrators, L.P. ("Princeton") for the provision of certain administrative
services. Princeton's principal place of business is 800 Scudders Mill Road,
Plainsboro, New Jersey 08536. Each Fund, except VBF and VIN, has entered into an
accounting services agreement with Advisory Corp. and a legal services agreement
with Van Kampen. Van Kampen's principal business address is 1 Parkview Plaza,
Oakbrook Terrace, Illinois 60181-5555. Each of VMT, VKC, VIG, VLT and VIT has
also entered into a support services agreement with Van Kampen Funds Inc.
4
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PROPOSAL 1: ELECTION OF TRUSTEES
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Trustees are to be elected by the Shareholders at the Meeting in the following
manner:
(a) With respect to VGM, VTJ, VKA, VFM, VIM, VTN, VAP, VOQ, VIC, VTP,
VKQ, VNM, VTF, VMO, VQC, VPQ, VLT, VIT, VMT, VKC, VVR and VBF, two
Class I Trustees are to be elected at the Meeting by the Shareholders
to serve until the later of each respective Fund's Annual Meeting of
Shareholders in 2005 or until their successors have been duly elected
and qualified. Holders of Common Shares, voting as a separate class,
will vote with respect to the two Class I nominees, David C. Arch and
Howard J Kerr, designated to be elected by the holders of Common
Shares. An affirmative vote of a plurality of the Common Shares of each
Fund, voting as a separate class, present at the Meeting in person or
by proxy is required to elect the respective nominees. It is the
intention of the persons named in the enclosed proxy to vote the Shares
represented by them for the election of the respective nominees listed
below unless the proxy is marked otherwise.
(b) With respect to VKL, two Class II Trustees are to be elected at the
Meeting by the Shareholders to serve until the later of the Fund's
Annual Meeting of Shareholders in 2005 or until their successors have
been duly elected and qualified. Holders of Common Shares, voting as a
separate class, will vote with respect to the one Class II nominee,
Wayne W. Whalen, designated to be elected by the holders of Common
Shares. Holders of Preferred Shares, voting as a separate class, will
vote with respect to the one Class II nominee, Rod Dammeyer, designated
to be elected by the holders of Preferred Shares. An affirmative vote
of a plurality of the Common Shares of the Fund and a plurality of the
Preferred Shares of the Fund, each voting as a separate class, present
at the Meeting in person or by proxy is required to elect the
respective nominees. It is the intention of the persons named in the
enclosed proxy to vote the Shares represented by them for the election
of the respective nominees listed below unless the proxy is marked
otherwise.
(c) With respect to VIG, VNV, VKI, VKV, VOV, VCV, VPV, VMV, VKS and
VOT, three Class III Trustees are to be elected at the Meeting by the
Shareholders to serve until the later of each respective Fund's Annual
Meeting of Shareholders in 2005 or until their successors have been
duly elected and qualified. Holders of Common Shares, voting as a
separate class, will vote with respect to the two Class III nominees,
Richard F. Powers, III and Hugo F. Sonnenschein, designated to be
elected by the holders of Common Shares. Holders of Preferred Shares,
voting as a
5
separate class, will vote with respect to the one Class III nominee,
Theodore A. Myers, designated to be elected by the holders of Preferred
Shares. An affirmative vote of a plurality of the Common Shares of each
Fund and a plurality of the Preferred Shares of each Fund, each voting
as a separate class, present at the Meeting in person or by proxy is
required to elect the respective nominees. It is the intention of the
persons named in the enclosed proxy to vote the Shares represented by
them for the election of the respective nominees listed below unless
the proxy is marked otherwise.
(d) With respect to VIN, two Class II trustees are to be elected at the
Meeting by the Shareholders to serve until the later of the Fund's
Annual Meeting of Shareholders in 2005 or until their successors have
been duly elected and qualified. Holders of Common Shares, voting as a
separate class, will vote with respect to the two Class II nominees,
Wayne W. Whalen and Rod Dammeyer, designated to be elected by the
holders of Common Shares. An affirmative vote of a plurality of the
Common Shares of the Fund, voting as a separate class, present at the
Meeting in person or by proxy is required to elect the respective
nominees. It is the intention of the persons named in the enclosed
proxy to vote the Shares represented by them for the election of the
respective nominees listed below unless the proxy is marked otherwise.
Each of the Trustees has served as a member of the Board of Trustees since his
initial election or appointment to the Board of Trustees as set forth on Annex C
to this Proxy Statement.
The Declaration of Trust of each Fund provides that the Board of Trustees
shall consist of Trustees divided into three classes, the classes to be as
nearly equal in number as possible. For each Fund, the Trustees of only one
class are elected at each annual meeting so that the regular term of only one
class of Trustees will expire annually and any particular Trustee stands for
election only once in each three-year period. This type of classification may
prevent replacement of a majority of Trustees for a particular Fund for up to a
two-year period. The foregoing is subject to the provisions of the Investment
Company Act of 1940, as amended (the "1940 Act"), applicable state law based on
the state of organization of each Fund, each Fund's Declaration of Trust and
each Fund's Bylaws.
With respect to each of the Funds with outstanding Preferred Shares, pursuant
to the 1940 Act, as long as any Preferred Shares are outstanding, the holders of
Preferred Shares will, voting as a separate class, elect two of the Trustees of
the Fund. Mr. Dammeyer is currently the Class II Trustee designated to be
elected by the holders of the Preferred Shares. Mr. Myers is currently the Class
III Trustee designated to be elected by the holders of the Preferred Shares.
6
All nominees have consented to being named in this proxy statement. With
respect to each of the Funds, each of the nominees has agreed to serve as a
Trustee if elected; however, should any nominees become unable or unwilling to
accept nomination or election, the proxies will be voted for one or more
substitute nominees designated by the present Board of Trustees of each Fund.
The following sets forth the names, addresses, ages, principal occupations and
other information regarding the Trustee nominees. The term "Fund Complex"
includes each of the investment companies advised by the Advisers.
INDEPENDENT TRUSTEES
<Table>
<Caption>
NUMBER OF
TERM OF FUNDS IN
OFFICE AND FUND
POSITION(S) LENGTH OF COMPLEX
NAME, AGE AND ADDRESS HELD WITH TIME PRINCIPAL OCCUPATION(S) OVERSEEN
OF INDEPENDENT TRUSTEE FUNDS SERVED DURING PAST 5 YEARS BY TRUSTEE
David C. Arch (56) Trustee + Mr. Arch is Chairman and Chief Executive 37
Blistex Inc. Officer of Blistex Inc., a consumer health
1800 Swift Drive care products manufacturer, and former
Oak Brook, IL 60523 Director of the World Presidents
Organization-Chicago Chapter. Mr. Arch is
also a Trustee or Managing General Partner
of other investment companies advised by
the Advisers.
<Caption>
NAME, AGE AND ADDRESS OTHER DIRECTORSHIPS
OF INDEPENDENT TRUSTEE HELD BY TRUSTEE
David C. Arch (56) Mr. Arch is a member of the
Blistex Inc. Board of Directors of the
1800 Swift Drive Heartland Alliance, a
Oak Brook, IL 60523 nonprofit organization
serving human needs based in
Chicago.
</Table>
7
<Table>
<Caption>
NUMBER OF
TERM OF FUNDS IN
OFFICE AND FUND
POSITION(S) LENGTH OF COMPLEX
NAME, AGE AND ADDRESS HELD WITH TIME PRINCIPAL OCCUPATION(S) OVERSEEN
OF INDEPENDENT TRUSTEE FUNDS SERVED DURING PAST 5 YEARS BY TRUSTEE
Rod Dammeyer (61) Trustee + Mr. Dammeyer is President of CAC, llc., a 37
CAC, llc. private company offering capital investment
676 North Michigan Avenue and management advisory services. Mr.
Suite 2800 Dammeyer is also a Trustee or Managing
Chicago, IL 60611 General Partner of other investment
companies advised by the Advisers. Prior to
February 2001, Mr. Dammeyer was Vice
Chairman and Director of Anixter
International, Inc. and IMC Global Inc.
Prior to July 2000, Mr. Dammeyer was a
Managing Partner of Equity Group Corporate
Investment (EGI), a company that makes
private investments in other companies.
Prior to 1997, Mr. Dammeyer was President,
Chief Executive Officer and a Director of
Great American Management & Investment,
Inc., a diversified manufacturing company.
<Caption>
NAME, AGE AND ADDRESS OTHER DIRECTORSHIPS
OF INDEPENDENT TRUSTEE HELD BY TRUSTEE
Rod Dammeyer (61) Mr. Dammeyer is a member of
CAC, llc. the Board of Directors of
676 North Michigan Avenue TeleTech Holdings Inc.,
Suite 2800 Stericycle, Inc.,
Chicago, IL 60611 TheraSense, Inc., GATX
Corporation, Arris Group,
Inc. and Peregrine Systems
Inc. and a member of the
Board of Trustees of the
University of Chicago
Hospitals and Health
Systems. Prior to July 2000,
Mr. Dammeyer was a member of
the Board of Directors of
Allied Riser Communications
Corp., Matria Healthcare
Inc., Transmedia Networks,
Inc., CNA Surety, Corp. and
Grupo Azcarero Mexico (GAM).
Prior to April 1999, Mr.
Dammeyer was a Director of
Metal Management, Inc. Prior
to 1998, Mr. Dammeyer was a
Director of Lukens, Inc.,
Capsure Holdings Corp.,
Revco D.S., Inc., the Chase
Manhattan Corporation
National Advisory Board and
Sealy, Inc. Prior to 1997,
Mr. Dammeyer was a Director
of Flacon Building Products,
Inc.
</Table>
8
<Table>
<Caption>
NUMBER OF
TERM OF FUNDS IN
OFFICE AND FUND
POSITION(S) LENGTH OF COMPLEX
NAME, AGE AND ADDRESS HELD WITH TIME PRINCIPAL OCCUPATION(S) OVERSEEN
OF INDEPENDENT TRUSTEE FUNDS SERVED DURING PAST 5 YEARS BY TRUSTEE
Howard J Kerr (66) Trustee + Mr. Kerr is a Trustee or Managing General 37
736 North Western Avenue Partner of other investment companies
P.O. Box 317 advised by the Advisers. Prior to 1998, Mr.
Lake Forest, IL 60045 Kerr was the President and Chief Executive
Officer of Pocklington Corporation, Inc.,
an investment holding company.
Theodore A. Myers (71) Trustee + Mr. Myers is a financial consultant. Mr. 37
550 Washington Avenue Myers is also a Trustee or Managing General
Glencoe, IL 60022 Partner of other investment companies
advised by the Advisers. Prior to 1998, Mr.
Myers was a Senior Financial Advisor (and,
prior to 1997, an Executive Vice President,
Chief Financial Officer and Director) of
Qualitech Steel Corporation, a producer of
high quality engineered steels for
automotive, transportation and capital
goods industries. Prior to 1997, Mr. Myers
was a member of the Arthur Andersen Chief
Financial Officers' Committee.
<Caption>
NAME, AGE AND ADDRESS OTHER DIRECTORSHIPS
OF INDEPENDENT TRUSTEE HELD BY TRUSTEE
Howard J Kerr (66) Mr. Kerr is a Director of
736 North Western Avenue Canbra Foods, Ltd., a
P.O. Box 317 Canadian oilseed crushing,
Lake Forest, IL 60045 refining, processing and
packaging operation, and the
Marrow Foundation.
Theodore A. Myers (71) Mr. Myers is a Director of
550 Washington Avenue Met Life Investors (formerly
Glencoe, IL 60022 known as COVA Financial Life
Insurance). Prior to 1997,
Mr. Myers was a Director of
McLouth Steel.
</Table>
9
<Table>
<Caption>
NUMBER OF
TERM OF FUNDS IN
OFFICE AND FUND
POSITION(S) LENGTH OF COMPLEX
NAME, AGE AND ADDRESS HELD WITH TIME PRINCIPAL OCCUPATION(S) OVERSEEN
OF INDEPENDENT TRUSTEE FUNDS SERVED DURING PAST 5 YEARS BY TRUSTEE
Hugo F. Sonnenschein (61) Trustee + Mr. Sonnenschein is President Emeritus and 37
1126 E. 59th Street Honorary Trustee of the University of
Chicago, IL 60637 Chicago and the Hutchinson Distinguished
Service Professor in the Department of
Economics at the University of Chicago.
Prior to July 2000, Mr. Sonnenschein was
President of the University of Chicago. Mr.
Sonnenschein is a member of the Board of
Trustees of the University of Rochester and
a member of its investment committee. Mr.
Sonnenschein is a member of the National
Academy of Sciences, the American
Philosophical Society, and a fellow of the
American Academy of Arts and Sciences. Mr.
Sonnenschein is also a Trustee or Managing
General Partner of other investment
companies advised by the Advisers.
<Caption>
NAME, AGE AND ADDRESS OTHER DIRECTORSHIPS
OF INDEPENDENT TRUSTEE HELD BY TRUSTEE
Hugo F. Sonnenschein (61)
1126 E. 59th Street
Chicago, IL 60637
</Table>
10
INTERESTED TRUSTEES
<Table>
<Caption>
NUMBER OF
TERM OF FUNDS IN
OFFICE AND FUND
POSITION(S) LENGTH OF COMPLEX
NAME, AGE AND ADDRESS HELD WITH TIME PRINCIPAL OCCUPATION(S) OVERSEEN
OF INTERESTED TRUSTEE FUND SERVED DURING PAST 5 YEARS BY TRUSTEE
Richard F. Powers, III* Chairman, + Mr. Powers is Chairman, Director, 94
(56) Trustee and President, Chief Executive Officer and
1 Parkview Plaza President Managing Director of Van Kampen; Chairman,
Oakbrook Terrace, IL Director, Chief Executive Officer and
60181 Managing Director of the Advisers, Van
Kampen Funds Inc., Van Kampen Advisors Inc.
and Van Kampen Management Inc.; Director of
other subsidiaries of Van Kampen; and Chief
Sales and Marketing Officer of Morgan
Stanley Dean Witter Asset Management Inc.
Mr. Powers is also Chairman of the Board,
Trustee/Director and President of funds in
the Fund Complex. Prior to May 1998, Mr.
Powers was Executive Vice President; and
Director of Marketing of Morgan Stanley
Dean Witter & Co. and Director of Dean
Witter Discover & Co. and Dean Witter
Realty. Prior to 1996, Mr. Powers was
Director of Dean Witter Reynolds Inc.
<Caption>
NAME, AGE AND ADDRESS OTHER DIRECTORSHIPS
OF INTERESTED TRUSTEE HELD BY TRUSTEE
Richard F. Powers, III*
(56)
1 Parkview Plaza
Oakbrook Terrace, IL
60181
</Table>
11
<Table>
<Caption>
NUMBER OF
TERM OF FUNDS IN
OFFICE AND FUND
POSITION(S) LENGTH OF COMPLEX
NAME, AGE AND ADDRESS HELD WITH TIME PRINCIPAL OCCUPATION(S) OVERSEEN
OF INTERESTED TRUSTEE FUND SERVED DURING PAST 5 YEARS BY TRUSTEE
Wayne W. Whalen* (62) Trustee + Mr. Whalen is a Partner in the law firm of 94
333 West Wacker Drive Skadden, Arps, Slate, Meagher & Flom
Chicago, IL 60606 (Illinois), legal counsel to certain funds
advised by the Advisers. Mr. Whalen is a
Trustee, Director or Managing General
Partner of other funds advised by the
Advisers.
<Caption>
NAME, AGE AND ADDRESS OTHER DIRECTORSHIPS
OF INTERESTED TRUSTEE HELD BY TRUSTEE
Wayne W. Whalen* (62)
333 West Wacker Drive
Chicago, IL 60606
</Table>
+ Each trustee serves a three-year term from the date of election. Each trustee
has served as a trustee of each respective Fund since the year shown in Annex
C.
* Such trustee is an "interested person" (within the meaning of Section 2(a)(19)
of the Investment Company Act of 1940, as amended (the "1940 Act")). Mr.
Whalen is an interested person certain of the funds in the Fund Complex by
reason of his firm currently acting as legal counsel to such funds in the Fund
Complex. Mr. Powers is an interested person of such funds in the Fund Complex
and the Advisers by reason of his positions with Morgan Stanley or its
affiliates.
12
MEETINGS AND COMMITTEES
During the fiscal year ended December 31, 2001, the Board of Trustees of VIN,
VLT and VIT each held 12 meetings. During the last fiscal year, each of the
Trustees of such Funds during the period such Trustee served as a Trustee
attended at least 75% of the meetings of the respective Board of Trustees and
all committee meetings thereof of which such Trustee was a member. During the
fiscal year ended December 31, 2001, the Board of Trustees of such Funds had no
standing committees with the exception of an audit committee which held 2
meetings.
During the fiscal year ended July 31, 2001, the Board of Trustees of VVR held
11 meetings. During the last fiscal year, each of the Trustees of such Fund
during the period such Trustee served as a Trustee attended at least 75% of the
meetings of the respective Board of Trustees and all committee meetings thereof
of which such Trustee was a member. During the fiscal year ended July 31, 2001,
the Board of Trustees of such Fund had no standing committees with the exception
of an audit committee which held 2 meetings.
During the fiscal year ended October 31, 2001, the Board of Trustees of VIG,
VKV, VCV, VMV, VNV, VOV, VPV, VKS, VOT, VKI, VGM, VIM, VIC, VTF, VTJ, VTN, VTP,
VMO, VKA, VAP, VKL, VKQ, VQC, VFM, VOQ, VNM and VPQ each held 12 meetings.
During the last fiscal year, each of the Trustees of such Funds during the
period such Trustee served as a Trustee attended at least 75% of the meetings of
the respective Board of Trustees and all committee meetings thereof of which
such Trustee was a member. During the fiscal year ended October 31, 2001, the
Board of Trustees of such Funds had no standing committees with the exception of
an audit committee which held 2 meetings.
During the fiscal year ended June 30, 2001, the Board of Trustees of VBF, VMT
and VKC each held 8 meetings. During the last fiscal year, each of the Trustees
of such Funds during the period such Trustee served as a Trustee attended at
least 75% of the meetings of the respective Board of Trustees and all committee
meetings thereof of which such Trustee was a member. During the fiscal year
ended June 30, 2001, the Board of Trustees of such Funds had no standing
committees with the exception of an audit committee which held 2 meetings.
Each Fund has an Audit Committee. The Board of Trustees of each Fund has
adopted a formal written charter for the Audit Committee which sets forth the
Audit Committee's responsibilities. In accordance with proxy rules promulgated
by the Securities and Exchange Commission, a fund's Audit Committee Charter is
required to be filed at least once every three years as an exhibit to a fund's
proxy statement. The Audit Committee Charter for each of the Funds was filed as
Exhibit H to the Funds' 2001 Proxy Statement. The Audit Committee of each Fund
has reviewed and discussed the financial statements of each Fund with management
as well as with Deloitte & Touche LLP, the independent auditors of each Fund,
and discussed with Deloitte & Touche LLP the matters required to be
13
discussed under the Statement of Auditing Standards No. 61. The Audit Committee
has received the written disclosures and the letter from Deloitte & Touche LLP
required under Independence Standard Board No. 1 and has discussed with the
independent auditors their independence. Based on this review, the Audit
Committee recommended to the Board of Trustees of each Fund that each Fund's
audited financial statements be included in each Fund's Annual Report to
Shareholders for the most recent fiscal year for filing with the Securities and
Exchange Commission. The Audit Committee currently consists of Messrs. Arch,
Dammeyer, Kerr, Myers and Sonnenschein. Each committee member is "independent"
as defined by either the New York Stock Exchange or American Stock Exchange
listing standard applicable to the respective Fund.
Each Fund has a retirement plan committee which currently consists of Messrs.
Arch, Dammeyer and Sonnenschein. The retirement plan committee is responsible
for reviewing the terms of each Fund's retirement plan and reviews any
administrative matters with respect thereto. The retirement plan committee does
not meet on a regular basis and had no meetings during each Fund's last fiscal
year, but does meet on an ad hoc basis as necessary to administer the retirement
plan.
REMUNERATION INFORMATION
As of the date of this proxy statement, each Trustee serves as a trustee or
managing general partner of the same 37 operating investment companies in the
Fund Complex (the "Closed-End Fund Complex"). The compensation of Trustees and
executive officers that are affiliated persons (as defined in the 1940 Act) of
Advisory Corp., Asset Management, or Van Kampen is paid by the respective
entity. The funds in the Closed-End Fund Complex, including the Funds, pay the
non-affiliated Trustees an annual retainer and meeting fees, plus expenses
incurred in connection with such meeting. Funds in the Closed-End Fund Complex
pay an annual Closed-End Fund Complex retainer in an amount equal to the product
of $2,500 multiplied by the number of funds in the Closed-End Fund Complex,
which retainer is then allocated among the funds in the Closed-End Fund Complex
based on the relative net assets of such funds, and meeting fees of $250 per
meeting per fund, plus reimbursement of expenses incurred in connection with
such meeting.
Each fund in the Closed-End Fund Complex (except the Van Kampen Exchange Fund)
provides a deferred compensation plan to its non-affiliated Trustees that allows
such trustees to defer receipt of compensation and earn a return on such
deferred amounts based upon the return of the common shares of the funds in the
Closed-End Fund Complex as more fully described below. Each fund in the
Closed-End Fund Complex (except the Van Kampen Exchange Fund) also provides a
retirement plan to its non-affiliated Trustees that provides non-affiliated
Trustees with compensation after retirement, provided that certain eligibility
requirements are met as more fully described below.
14
Each non-affiliated Trustee generally can elect to defer receipt of all or a
portion of the compensation earned by such non-affiliated Trustee until
retirement. Amounts deferred are retained by the respective fund and earn a rate
of return determined by reference to the return on the common shares of such
fund or other funds in the Closed-End Fund Complex as selected by the respective
non-affiliated Trustee, with the same economic effect as if such non-affiliated
Trustee had invested in one or more funds in the Closed-End Fund Complex,
including the Funds. To the extent permitted by the 1940 Act, each Fund may
invest in securities of those funds selected by the non-affiliated Trustees in
order to match the deferred compensation obligation. The deferred compensation
plan is not funded and obligations thereunder represent general unsecured claims
against the general assets of the respective Fund.
Each Fund has adopted a retirement plan. Under the retirement plan, a
non-affiliated Trustee who is receiving trustee's compensation from a Fund prior
to such non-affiliated Trustee's retirement, has at least 10 years of service
(including years of service prior to adoption of the retirement plan) for such
Fund and retires at or after attaining the age of 60, is eligible to receive a
retirement benefit equal to $2,500 per year for each of the ten years following
such Trustee's retirement from such Fund. Trustees retiring prior to the age of
60 or with fewer than 10 years but more than 5 years of service may receive
reduced retirement benefits from a Fund. Each Trustee has served as a member of
each Fund's Board of Trustees since the year of such Trustee's appointment or
election as set forth on Annex C to this Proxy Statement.
Additional information regarding compensation and benefits for Trustees is set
forth below. As indicated in the notes accompanying the table, the amounts
relate to either the respective Fund's most recently completed fiscal year end
in 2001 or the Closed-End Fund Complex's most recently completed calendar year
ended December 31, 2001.
COMPENSATION TABLE
<Table>
<Caption>
CLOSED-END FUND COMPLEX
---------------------------------------------------
ESTIMATED AGGREGATE TOTAL
PENSION OR COMPENSATION
RETIREMENT ESTIMATED BEFORE
AGGREGATE BENEFITS AGGREGATE DEFERRAL FROM
COMPENSATION ACCRUED ANNUAL CLOSED-END
FROM EACH AS PART OF BENEFITS UPON FUND
NAME(1) FUND(2) EXPENSES(3) RETIREMENT(4) COMPLEX(5)
------- ------------ ------------------- ------------- -------------
David C. Arch.............. (2) $13,789 $90,000 $152,000
Rod Dammeyer............... (2) 25,218 90,000 152,250
Howard J Kerr.............. (2) 49,429 89,000 152,250
Theodore A. Myers.......... (2) 91,890 85,000 152,250
Hugo F. Sonnenschein....... (2) 25,164 90,000 152,250
Wayne W. Whalen............ (2) 28,723 90,000 152,250
</Table>
- ---------------
(1) Mr. Powers is an affiliated persons of the Advisers and Van Kampen, and does
not receive compensation or retirement benefits from the Funds.
15
(2) The amount of aggregate compensation payable by each Fund for its most
recently completed fiscal year end in 2001 before deferral by the Trustees
under the deferred compensation plan is shown in Annex D. Certain trustees
deferred all or a portion of the aggregate compensation payable by each Fund
for its most recently completed fiscal year end in 2001 as shown in Annex E.
The deferred compensation plan is described above the table. Amounts
deferred are retained by the respective Fund and earn a rate of return
determined by reference to either the return on the Common Shares of the
Fund or the common shares of other funds in the Closed-End Fund Complex as
selected by the respective Trustee. To the extent permitted by the 1940 Act,
the Fund may invest in securities of these funds selected by the Trustees in
order to match the deferred compensation obligation. The cumulative deferred
compensation (including earnings accrued thereon for each trustee) for each
Fund as of the end of its most recently completed fiscal year end in 2001 is
shown in Annex F.
(3) The amounts shown in this column represent the sum of the estimated pension
or retirement benefit accruals expected to be accrued by the operating funds
in the Closed-End Fund Complex for their respective fiscal years ended in
2001. The retirement plan is described above the compensation table.
(4) For each trustee, the amounts shown in this column represent the sum of the
estimated annual benefits upon retirement payable per year by the current
operating funds in the Closed-End Fund Complex for each year of the 10-year
period commencing in the year of such Trustee's anticipated retirement. Each
Fund is expected to pay benefits of $2,500 per year for each of the 10-year
period commencing in the year of such trustee's retirement to those Trustees
who retire at or over the age of 60 and with at least ten years of service
to each Fund. The retirement plan is described above the compensation table.
(5) The amounts shown in this column are accumulated from the aggregate
compensation of the 37 operating investment companies in the Closed-End Fund
Complex for the calendar year ended December 31, 2001 before deferral by the
Trustees under the deferred compensation plan. Amounts deferred are retained
by the respective fund and earn a rate of return determined by reference to
either the return on the Common Shares of the Fund or the common shares of
other funds in the Closed-End Fund Complex as selected by the respective
trustee. To the extent permitted by the 1940 Act, the respective fund may
invest in securities of the funds selected by the Trustees in order to match
the deferred compensation obligation. The Advisers or their affiliates also
serve as investment adviser for other investment companies; however, with
the exception of Messrs. Whalen and Powers, the Trustees are not trustees of
such other investment companies. Combining the Closed-End Fund Complex with
other investment companies advised by the Advisers or their affiliates, Mr.
Whalen earned Total Compensation of $276,650 for the year ended December 31,
2001.
SHAREHOLDER APPROVAL
With respect to each of the Funds, the holders of Common Shares and, where
applicable, the holders of Preferred Shares, each voting as a separate class,
will vote on the respective nominees designated to be elected by such class of
Shares. The affirmative vote of a plurality of the Common Shares of each Fund
present at the Meeting in person or by proxy is required to elect each nominee
for Trustee designated to be elected by the Common Shares, and, where
applicable, the affirmative vote of a plurality of the Preferred Shares of each
Fund present at the Meeting in person or by proxy is required to elect each
nominee for Trustee designated to be elected by the Preferred Shares. THE BOARD
OF TRUSTEES RECOMMENDS A VOTE "FOR ALL" OF THE NOMINEES.
16
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
EXECUTIVE OFFICERS OF THE FUNDS
The following information relates to the executive officers of the Funds who
are not trustee nominees. Each officer also serves in the same capacity for all
or a number of the other investment companies advised by the Advisers or
affiliates of the Advisers. The officers of the Funds serve for one year or
until their respective successors are chosen and qualified. The Funds' officers
receive no compensation from the Funds but may also be officers of the Advisers
or officers of affiliates of the Advisers and receive compensation in such
capacities.
<Table>
<Caption>
TERM OF
OFFICE AND
POSITION(S) LENGTH OF
NAME, AGE AND HELD WITH TIME PRINCIPAL OCCUPATION(S)
ADDRESS OF OFFICER FUND SERVED DURING PAST 5 YEARS
Stephen L. Boyd (61) Executive Vice Officer Managing Director and Chief Investment Officer of Van
2800 Post Oak Blvd. President and since 1998 Kampen, and Managing Director, President and Chief Operating
45th Floor Chief Investment Officer of the Advisers and Van Kampen Advisors Inc.
Houston, TX 77056 Officer Executive Vice President and Chief Investment Officer of
funds in the Fund Complex. Prior to December 2000, Executive
Vice President and Chief Investment Officer of Van Kampen,
and President and Chief Operating Officer of the Advisers.
Prior to April 2000, Executive Vice President and Chief
Investment Officer for Equity Investments of the Advisers.
Prior to October 1998, Vice President and Senior Portfolio
Manager with AIM Capital Management, Inc. Prior to February
1998, Senior Vice President and Portfolio Manager of Van
Kampen American Capital Asset Management, Inc., Van Kampen
American Capital Investment Advisory Corp. and Van Kampen
American Capital Management, Inc.
</Table>
17
<Table>
<Caption>
TERM OF
OFFICE AND
POSITION(S) LENGTH OF
NAME, AGE AND HELD WITH TIME PRINCIPAL OCCUPATION(S)
ADDRESS OF OFFICER FUND SERVED DURING PAST 5 YEARS
A. Thomas Smith III (45) Vice President and Officer Managing Director of Morgan Stanley, Managing Director and
Harborside Financial Center Secretary since 1999 Director of Van Kampen, Director of the Advisers, Van Kampen
Plaza 2 - 7th Floor Advisors Inc., Van Kampen Funds Inc., Van Kampen Investor
Jersey City, NJ 07311 Services Inc. and certain other subsidiaries of Van Kampen.
Managing Director and General Counsel-Mutual Funds of Morgan
Stanley Investment Advisors, Inc. Vice President or
Principal Legal Officer and Secretary of funds in the Fund
Complex. Prior to July 2001, Managing Director, General
Counsel, Secretary and Director of Van Kampen, the Advisers,
Van Kampen Funds Inc., Van Kampen Investor Services Inc. and
certain other subsidiaries of Van Kampen. Prior to December
2000, Executive Vice President, General Counsel, Secretary
and Director of Van Kampen, the Advisers, Van Kampen
Advisors Inc., Van Kampen Funds Inc., Van Kampen Investor
Services Inc. and certain other subsidiaries of Van Kampen.
Prior to January 1999, Vice President and Associate General
Counsel to New York Life Insurance Company ("New York
Life"), and prior to March 1997, Associate General Counsel
of New York Life. Prior to December 1993, Assistant General
Counsel of The Dreyfus Corporation. Prior to August 1991,
Senior Associate, Willkie Farr & Gallagher. Prior to January
1989, Staff Attorney at the Securities and Exchange
Commission, Division of Investment Management, Office of
Chief Counsel.
John R. Reynoldson (48) Vice President Officer Executive Director and Portfolio Specialist of the Advisers
1 Parkview Plaza since 2000 and Van Kampen Advisors Inc. Vice President of funds in the
Oakbrook Terrace, IL 60181 Fund Complex. Prior to July 2001, Principal and Co-head of
the Fixed Income Department of the Advisers and Van Kampen
Advisors Inc. Prior to December 2000, Senior Vice President
of the Advisers and Van Kampen Advisors Inc. Prior to May
2000, he managed the investment grade taxable group for the
Advisers since July 1999. From July 1988 to June 1999, he
managed the government securities bond group for Asset
Management. Mr. Reynoldson has been with Asset Management
since April 1987.
</Table>
18
<Table>
<Caption>
TERM OF
OFFICE AND
POSITION(S) LENGTH OF
NAME, AGE AND HELD WITH TIME PRINCIPAL OCCUPATION(S)
ADDRESS OF OFFICER FUND SERVED DURING PAST 5 YEARS
John L. Sullivan (46) Vice President, Officer Executive Director of Van Kampen, the Advisers and Van
1 Parkview Plaza Chief Financial since 1996 Kampen Advisors Inc. Vice President, Chief Financial Officer
Oakbrook Terrace, IL 60181 Officer and and Treasurer of funds in the Fund Complex.
Treasurer
John H. Zimmermann, III (44) Vice President Officer Managing Director and Director of Van Kampen, and Managing
Harborside Financial Center since 2000 Director, President and Director of Van Kampen Funds Inc.
Plaza 2 - 7th Floor Vice President of funds in the Fund Complex. Prior to
Jersey City, NJ 07311 December 2000, President of Van Kampen Insurance Agency of
Illinois Inc., and Senior Vice President and Director of Van
Kampen. From November 1992 to December 1997, Mr. Zimmermann
was Senior Vice President of Van Kampen Funds Inc.
</Table>
19
SHAREHOLDER INFORMATION
As of April 12, 2002, to the knowledge of the Funds, no Shareholder owned
beneficially more than 5% of a class of a Fund's outstanding Shares. As of April
12, 2002, certain trustees and executive officers owned, directly or
beneficially, the number of Common Shares of each Fund as set forth in Annex G.
Except as indicated on Annex G, as of April 12, 2002, the trustees and executive
officers of the Funds individually and as a group owned less than 1% of the
outstanding Shares of each Fund. Trustees and executive officers who do not own
any Common Shares of the Funds or Funds which are not owned by any Trustee or
executive officers have been omitted from the table in Annex G. As of April 12,
2002, no trustees or executive officers owned any Preferred Shares of the Funds.
As of April 12, 2002, each Trustee beneficially owned equity securities of the
Funds and other funds in the Closed-End Fund Complex overseen by the Trustees in
the dollar range amounts as specified in Annex H.
SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE
Section 30(f) of the 1940 Act and Section 16(a) of the Securities Exchange Act
of 1934, as amended, require each of the Funds' Trustees, officers, investment
adviser, affiliated persons of the investment adviser and persons who own more
than 10% of a registered class of the Fund's equity securities to file forms
with the Securities and Exchange Commission (the "SEC") and the New York Stock
Exchange or American Stock Exchange, as applicable, reporting their affiliation
with the Fund and reports of ownership and changes in ownership of Fund Shares.
These persons and entities are required by SEC regulation to furnish the Fund
with copies of all such forms they file. Based on a review of these forms
furnished to each Fund, each Fund believes that during its last fiscal year, its
Trustees, officers, investment adviser and affiliated persons of the investment
adviser complied with the applicable filing requirements.
INDEPENDENT AUDITORS
The Board of Trustees of each Fund, including a majority of the Trustees who
are not "interested persons" of each Fund (as defined by the 1940 Act), has
selected Deloitte & Touche LLP ("D&T") as the independent auditors to examine
the financial statements for the current fiscal year of each Fund. D&T
previously served as the independent auditors to each Fund for such Fund's
fiscal years ended in 2001 and 2000. The selection of D&T for the current fiscal
year and the change in accountants and selection of D&T for the fiscal year
ended in 2000 was recommended and approved by each Fund's Audit Committee. Each
Board's initial appointment of D&T was effective on May 8, 2000. Each of the
Funds knows of no direct or indirect financial interest of D&T in such Fund.
KPMG LLP previously served as the independent public accountants to each of
the Funds (except VBF and VIN) for such Fund's fiscal year ended in 1999; the
20
client-auditor relationship between KPMG LLP and such Funds ceased as of April
14, 2000. Ernst & Young LLP previously served as the independent public
accountants to each of VBF and VIN for such Fund's fiscal year ended in 1999;
the client-auditor relationship between Ernst & Young LLP and such Funds ceased
as of May 8, 2000. KPMG LLP and Ernst & Young LLP are collectively referred to
herein as the "Predecessor Accountants."
The independent auditors' reports on the financial statements for each
respective Fund during such Fund's last two fiscal years did not contain an
adverse opinion or disclaimer of opinion, nor was such report qualified or
modified as to uncertainty, audit scope or accounting principles. During the two
fiscal years and any subsequent interim period, there were no disagreements with
the respective Predecessor Accountant for each respective Fund on any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreement, if not resolved to the satisfaction of
the Predecessor Accountant, would have caused such Predecessor Accountant to
make reference to the subject matter of the disagreement in connection with its
report.
Audit Fees
For professional services rendered with respect to the audit of each Fund's
annual financial statements, each Fund paid to D&T during such Fund's most
recent fiscal year fees in the amounts set forth in Annex I.
Financial Information Systems Design and Implementation Fees
The Funds, Advisers and affiliates of the Advisers performing services for the
Funds paid no fees during the Funds' most recent fiscal years for information
systems design and implementation to D&T.
All Other Fees
Each Fund paid fees to D&T in the amounts set forth in Annex I during such
Fund's most recent fiscal year for services other than those described above.
The Advisers and affiliates of the Advisers performing services for the Funds
paid fees to D&T in the aggregate amount of approximately $6.5 million during
the Fund's most recent fiscal years for services other than those described
above.
The Audit Committee of the Board has considered whether the provision of
services other than audit services, by D&T to the Funds, the Advisers and
affiliates of the Advisers that provide services to Funds is compatible with
maintaining D&T's independence in performing audit services.
Representatives of D&T will attend the Meeting, will have the opportunity to
make a statement if they desire to do so and will be available to answer
appropriate questions.
21
- ------------------------------------------------------------------------------
EXPENSES
- ------------------------------------------------------------------------------
The expenses of preparing, printing and mailing the enclosed form of proxy,
the accompanying Notice and this Proxy Statement and all other costs, in
connection with the solicitation of proxies will be borne by the Funds. The
total amount of these expenses will be allocated among each of the Funds based
upon the total number of shareholders for each Fund in relation to the total
number of shareholders for all of the Funds participating in the Meeting. The
Funds will also reimburse banks, brokers and others for their reasonable
expenses in forwarding proxy solicitation material to the beneficial owners of
the shares of the Funds. In order to obtain the necessary quorum at the Meeting,
additional solicitation may be made by mail, telephone, telegraph, facsimile or
personal interview by representatives of the Funds, the Advisers or Van Kampen,
the transfer agents of the Funds or by dealers or their representatives or by
Management Information Services, a solicitation firm located in Norwell,
Massachusetts that has been engaged to assist in proxy solicitations at an
estimated cost of approximately $1,500 per Fund.
- ------------------------------------------------------------------------------
SHAREHOLDER PROPOSALS
- ------------------------------------------------------------------------------
To be considered for presentation at a shareholders' meeting, rules
promulgated by the SEC generally require that, among other things, a
shareholder's proposal must be received at the offices of the relevant Fund a
reasonable time before a solicitation is made. Shareholder proposals intended to
be presented at the year 2003 Annual Meeting of Shareholders for a Fund pursuant
to Rule 14a-8 under the Exchange Act of 1934, as amended (the "Exchange Act"),
must be received by the Fund at the Fund's principal executive offices by
January 11, 2003. In order for proposals made outside of Rule 14a-8 under the
Exchange Act to be considered "timely" within the meaning of Rule 14a-4(c) under
the Exchange Act, such proposals must be received by the Fund at the Fund's
principal executive offices not later than March 27, 2003. Timely submission of
a proposal does not necessarily mean that such proposal will be included. Any
shareholder who wishes to submit a proposal for consideration at a meeting of
such shareholder's Fund should send such proposal to the respective Fund at 1
Parkview Plaza, PO Box 5555, Oakbrook Terrace, Illinois 60181-5555.
- ------------------------------------------------------------------------------
GENERAL
- ------------------------------------------------------------------------------
Management of each Fund does not intend to present and does not have reason to
believe that others will present any other items of business at the Meeting.
However, if other matters are properly presented to the Meeting for a vote, the
proxies will be voted upon such matters in accordance with the judgment of the
persons acting under the proxies.
22
A list of shareholders of each Fund entitled to be present and vote at the
Meeting will be available at the offices of the respective Fund, 1 Parkview
Plaza, Oakbrook Terrace, Illinois 60181-5555, for inspection by any shareholder
during regular business hours for ten days prior to the date of the Meeting.
Failure of a quorum to be present at the Meeting for any Fund may necessitate
adjournment and may subject such Fund to additional expense.
IF YOU CANNOT BE PRESENT IN PERSON, YOU ARE REQUESTED TO FILL IN, SIGN AND
RETURN THE ENCLOSED PROXY PROMPTLY. NO POSTAGE IS REQUIRED IF MAILED IN THE
UNITED STATES.
A. THOMAS SMITH III,
Vice President and Secretary
May 3, 2002
23
ANNEX A
VAN KAMPEN CLOSED-END FUNDS
The following list sets forth the Van Kampen closed-end investment companies
(the "Funds") participating in the Joint Annual Meeting of Shareholders to be
held at the offices of Van Kampen Investments Inc., 1 Parkview Plaza, Oakbrook
Terrace, Illinois 60181-5555 on Wednesday, June 12, 2002, at 3:00 p.m. The name
in the first column below is the legal name for each Fund. The name in the
second column is the abbreviated name of each Fund and the designation in the
third column is the stock symbol of each Fund; the abbreviated name or stock
symbol are sometimes used to identify a specific Fund in the Proxy Statement.
Each of the Funds has issued common shares of beneficial interest and such
common shares of the Funds are referred to herein as the "Common Shares."
Certain Funds have issued preferred shares of beneficial interest with a
liquidation preference per share as designated in the fourth column below and
such preferred shares of the Funds are referred to herein as the "Preferred
Shares."
<Table>
<Caption>
PREFERRED SHARES
LEGAL NAME ABBREVIATED NAME STOCK SYMBOL OUTSTANDING
---------- ---------------- ------------ ----------------
Van Kampen Municipal Income Municipal Income Trust VMT Rate Adjusted Tax-Exempt
Trust Shares, liquidation
preference $500,000 per
share
Van Kampen California California Municipal VKC Remarketed Preferred Shares,
Municipal Trust Trust liquidation preference
$50,000 per share
Van Kampen Investment Grade Investment Grade VIG Remarketed Preferred Shares,
Municipal Trust Municipal Trust liquidation preference
$100,000 per share
Van Kampen Select Sector Select Sector VKL Remarketed Preferred Shares,
Municipal Trust Municipal Trust liquidation preference
$25,000 per share
Van Kampen Municipal Trust Municipal Trust VKQ Auction Preferred Shares,
liquidation preference
$25,000 per share
Van Kampen California California Quality VQC Auction Preferred Shares,
Quality Municipal Trust Municipal Trust liquidation preference
$25,000 per share
Van Kampen New York Quality New York Quality VNM Auction Preferred Shares,
Municipal Trust Municipal Trust liquidation preference
$25,000 per share
Van Kampen Pennsylvania Pennsylvania Quality VPQ Auction Preferred Shares,
Quality Municipal Trust Municipal Trust liquidation preference
$25,000 per share
Van Kampen Florida Quality Florida Quality VFM Auction Preferred Shares,
Municipal Trust Municipal Trust liquidation preference
$25,000 per share
Van Kampen Ohio Quality Ohio Quality Municipal VOQ Auction Preferred Shares,
Municipal Trust Trust liquidation preference
$25,000 per share
</Table>
A-1
<Table>
<Caption>
PREFERRED SHARES
LEGAL NAME ABBREVIATED NAME STOCK SYMBOL OUTSTANDING
---------- ---------------- ------------ ----------------
Van Kampen Trust for Insured Trust for Insured VIM Auction Preferred Shares,
Municipals Municipals liquidation preference
$25,000 per share
Van Kampen Trust for Trust for Investment VGM Auction Preferred Shares,
Investment Grade Municipals Grade Municipals liquidation preference
$25,000 per share
Van Kampen Trust for Trust for Investment VIC Auction Preferred Shares,
Investment Grade California Grade California liquidation preference
Municipals Municipals $25,000 per share
Van Kampen Trust for Trust for Investment VTN Auction Preferred Shares,
Investment Grade New York Grade New York liquidation preference
Municipals Municipals $25,000 per share
Van Kampen Trust for Trust for Investment VTP Auction Preferred Shares,
Investment Grade Grade Pennsylvania liquidation preference
Pennsylvania Municipals Municipals $25,000 per share
Van Kampen Trust for Trust for Investment VTF Auction Preferred Shares,
Investment Grade Florida Grade Florida liquidation preference
Municipals Municipals $25,000 per share
Van Kampen Trust for Trust for Investment VTJ Auction Preferred Shares,
Investment Grade New Jersey Grade New Jersey liquidation preference
Municipals Municipals $25,000 per share
Van Kampen Municipal Municipal Opportunity VMO Auction Preferred Shares,
Opportunity Trust Trust liquidation preference
$25,000 per share
Van Kampen Advantage Advantage Municipal VKA Auction Preferred Shares,
Municipal Income Trust Income Trust liquidation preference
$25,000 per share
Van Kampen Advantage Advantage Pennsylvania VAP Auction Preferred Shares,
Pennsylvania Municipal Municipal Income liquidation preference
Income Trust Trust $25,000 per share
Van Kampen Ohio Value Ohio Value Municipal VOV Auction Preferred Shares,
Municipal Income Trust Income Trust liquidation preference
$25,000 per share
Van Kampen Massachusetts Massachusetts Value VMV Auction Preferred Shares,
Value Municipal Income Municipal Income liquidation preference
Trust Trust $25,000 per share
Van Kampen Strategic Sector Strategic Sector VKS Auction Preferred Shares,
Municipal Trust Municipal Trust liquidation preference
$25,000 per share
Van Kampen New York Value New York Value VNV Auction Preferred Shares,
Municipal Income Trust Municipal Income liquidation preference
Trust $25,000 per share
Van Kampen California Value California Value VCV Auction Preferred Shares,
Municipal Income Trust Municipal Income liquidation preference
Trust $25,000 per share
Van Kampen Pennsylvania Pennsylvania Value VPV Auction Preferred Shares,
Value Municipal Income Municipal Income liquidation preference
Trust Trust $25,000 per share
</Table>
A-2
<Table>
<Caption>
PREFERRED SHARES
LEGAL NAME ABBREVIATED NAME STOCK SYMBOL OUTSTANDING
---------- ---------------- ------------ ----------------
Van Kampen Value Municipal Value Municipal Income VKV Auction Preferred Shares,
Income Trust Trust liquidation preference
$25,000 per share
Van Kampen Municipal Municipal Opportunity VOT Auction Preferred Shares,
Opportunity Trust II Trust II liquidation preference
$25,000 per share
Van Kampen Advantage Advantage Municipal VKI Auction Preferred Shares,
Municipal Income Trust II Income Trust II liquidation preference
$25,000 per share
Van Kampen High Income High Income Trust II VLT Auction Preferred Shares,
Trust II liquidation preference
$25,000 per share
Van Kampen High High Income Trust VIT Auction Market Preferred
Income Trust Shares, liquidation
preference $100,000 per
share
Van Kampen Senior Senior Income Trust VVR Not Applicable
Income Trust
Van Kampen Bond Fund Bond Fund VBF Not Applicable
Van Kampen Income Trust Income Trust VIN Not Applicable
</Table>
A-3
ANNEX B
VAN KAMPEN CLOSED-END FUNDS
The following list sets forth the number of issued and outstanding Common
Shares and Preferred Shares, where applicable, for each Fund as of April 12,
2002, the Record Date.
<Table>
<Caption>
FUND NAME COMMON SHARES PREFERRED SHARES
--------- ------------- ----------------
Van Kampen Municipal Income Trust 28,684,985 330
Van Kampen California Municipal Trust 3,257,560 400
Van Kampen Investment Grade Municipal Trust 4,839,000 250
Van Kampen Select Sector Municipal Trust 4,682,127 1,360
Van Kampen Municipal Trust 36,365,392 12,000
Van Kampen California Quality Municipal Trust 9,682,997 3,000
Van Kampen New York Quality Municipal Trust 5,655,638 1,800
Van Kampen Pennsylvania Quality Municipal Trust 8,244,720 2,600
Van Kampen Florida Quality Municipal Trust 6,519,397 2,000
Van Kampen Ohio Quality Municipal Trust 4,291,723 1,400
Van Kampen Trust for Insured Municipals 9,741,284 3,600
Van Kampen Trust for Investment Grade Municipals 27,013,149 10,600
Van Kampen Trust for Investment Grade California Municipals 4,666,320 1,800
Van Kampen Trust for Investment Grade New York Municipals 6,203,651 2,400
Van Kampen Trust for Investment Grade Pennsylvania Municipals 7,420,970 2,800
Van Kampen Trust for Investment Grade Florida Municipals 5,562,560 2,240
Van Kampen Trust for Investment Grade New Jersey Municipals 6,103,771 2,600
Van Kampen Municipal Opportunity Trust 15,352,890 6,000
Van Kampen Advantage Municipal Income Trust 19,106,785 7,600
Van Kampen Advantage Pennsylvania Municipal Income Trust 4,363,579 1,600
Van Kampen Ohio Value Municipal Income Trust 1,681,438 600
Van Kampen Massachusetts Value Municipal Income Trust 2,663,121 1,000
Van Kampen Strategic Sector Municipal Trust 10,806,700 3,800
Van Kampen New York Value Municipal Income Trust 4,291,172 1,600
Van Kampen California Value Municipal Income Trust 6,029,844 2,400
Van Kampen Pennsylvania Value Municipal Income Trust 4,468,924 1,800
Van Kampen Value Municipal Income Trust 23,555,115 9,000
Van Kampen Municipal Opportunity Trust II 11,731,272 4,600
Van Kampen Advantage Municipal Income Trust II 8,168,211 3,200
Van Kampen High Income Trust 13,710,760 450
Van Kampen High Income Trust II 8,109,000 1,360
Van Kampen Senior Income Trust 180,010,000 N/A
Van Kampen Bond Fund 11,362,465 N/A
Van Kampen Income Trust 15,358,475 N/A
</Table>
B-1
ANNEX C
The table below sets forth the year in which each of the nominees to the
Board of Trustees initially was elected or appointed to the Board of Trustees of
each Fund.
<Table>
<Caption>
ARCH DAMMEYER KERR MYERS POWERS SONNENSCHEIN WHALEN
---- -------- ---- ----- ------ ------------ ------
Municipal Income Trust (VMT).............................. 1988 1988 1992 1988 1999 1994 1988
California Municipal Trust (VKC).......................... 1988 1988 1992 1988 1999 1994 1988
High Income Trust (VIT)................................... 1988 1988 1992 1988 1999 1994 1988
Investment Grade Municipal Trust (VIG).................... 1989 1989 1992 1989 1999 1994 1989
High Income Trust II (VLT)................................ 1989 1989 1992 1989 1999 1994 1989
California Quality Municipal Trust (VQC).................. 1991 1991 1992 1991 1999 1994 1991
Florida Quality Municipal Trust (VFM)..................... 1991 1991 1992 1991 1999 1994 1991
Municipal Trust (VKQ)..................................... 1991 1991 1992 1991 1999 1994 1991
New York Quality Municipal Trust (VNM).................... 1991 1991 1992 1991 1999 1991 1991
Ohio Quality Municipal Trust (VOQ)........................ 1991 1991 1992 1991 1999 1994 1991
Pennsylvania Quality Municipal Trust (VPQ)................ 1991 1991 1992 1991 1999 1994 1991
Trust for Insured Municipals (VIM)........................ 1991 1991 1992 1991 1999 1994 1991
Trust for Investment Grade Municipals (VGM)............... 1991 1991 1992 1991 1999 1994 1991
Advantage Municipal Income Trust (VKA).................... 1992 1992 1992 1992 1999 1994 1992
Advantage Pennsylvania Municipal Income Trust (VAP)....... 1992 1992 1992 1992 1999 1994 1992
Municipal Opportunity Trust (VMO)......................... 1992 1992 1992 1992 1999 1994 1992
Strategic Sector Municipal Trust (VKS).................... 1992 1992 1992 1992 1999 1994 1992
Trust for Investment Grade California Municipals (VIC).... 1992 1992 1992 1992 1999 1994 1992
Trust for Investment Grade Florida Municipals (VTF)....... 1992 1992 1992 1992 1999 1994 1992
Trust for Investment Grade New Jersey Municipals (VTJ).... 1992 1992 1992 1992 1999 1994 1992
Trust for Investment Grade New York Municipals (VTN)...... 1992 1992 1992 1992 1999 1994 1992
Trust for Investment Grade Pennsylvania Municipals
(VTP).................................................... 1992 1992 1992 1992 1999 1994 1992
Advantage Municipal Income Trust II (VKI)................. 1993 1993 1993 1993 1999 1994 1993
California Value Municipal Income Trust (VCV)............. 1993 1993 1993 1993 1999 1994 1993
Massachusetts Value Municipal Income Trust (VMV).......... 1993 1993 1993 1993 1999 1994 1993
Municipal Opportunity Trust II (VOT)...................... 1993 1993 1993 1993 1999 1994 1993
</Table>
C-1
ANNEX C -- (CONTINUED)
<Table>
<Caption>
ARCH DAMMEYER KERR MYERS POWERS SONNENSCHEIN WHALEN
---- -------- ---- ----- ------ ------------ ------
New York Value Municipal Income Trust (VNV)............... 1993 1993 1993 1993 1999 1994 1993
Ohio Value Municipal Income Trust (VOV)................... 1993 1993 1993 1993 1999 1994 1993
Pennsylvania Value Municipal Income Trust (VPV)........... 1993 1993 1993 1993 1999 1994 1993
Select Sector Municipal Trust (VKL)....................... 1993 1993 1993 1993 1999 1994 1993
Value Municipal Income Trust (VKV)........................ 1993 1993 1993 1993 1999 1994 1993
Bond Fund (VBF)........................................... 1997 1997 1997 1997 1999 1997 1997
Income Trust (VIN)........................................ 1997 1997 1997 1997 1999 1997 1997
Senior Income Trust (VVR)................................. 1998 1998 1998 1998 1999 1998 1998
</Table>
C-2
ANNEX D
2001 AGGREGATE COMPENSATION BEFORE DEFERRAL FROM EACH FUND
<Table>
<Caption>
NAME OF FUND FISCAL YEAR-END ARCH DAMMEYER KERR MYERS SONNENSCHEIN WHALEN
------------ --------------- ---- -------- ---- ----- ------------ ------
Bond Fund..................................... 06/30 $ 2,771 $ 2,771 $ 2,771 $ 2,771 $ 2,771 $ 2,771
California Municipal Trust.................... 06/30 1,805 1,805 1,805 1,805 1,805 1,805
Municipal Income Trust........................ 06/30 4,043 4,043 4,043 4,043 4,043 4,043
Senior Income Trust........................... 07/31 14,944 14,944 14,944 14,944 14,944 14,944
Advantage Municipal Income Trust.............. 10/31 4,511 4,511 4,511 4,511 4,511 4,511
Advantage Municipal Income Trust II........... 10/31 2,677 2,677 2,677 2,677 2,677 2,677
Advantage Pennsylvania Municipal Income
Trust........................................ 10/31 2,182 2,182 2,182 2,182 2,182 2,182
California Quality Municipal Trust............ 10/31 2,943 2,943 2,943 2,943 2,943 2,943
California Value Municipal Income Trust....... 10/31 2,459 2,459 2,459 2,459 2,459 2,459
Florida Quality Municipal Trust............... 10/31 2,453 2,453 2,453 2,453 2,453 2,453
Investment Grade Municipal Trust.............. 10/31 1,936 1,936 1,936 1,936 1,936 1,936
Massachusetts Value Municipal Income Trust.... 10/31 1,899 1,899 1,899 1,899 1,899 1,899
Municipal Opportunity Trust................... 10/31 3,978 3,978 3,978 3,978 3,978 3,978
Municipal Opportunity Trust II................ 10/31 3,200 3,200 3,200 3,200 3,200 3,200
Municipal Trust............................... 10/31 6,703 6,703 6,703 6,703 6,703 6,703
New York Quality Municipal Trust.............. 10/31 2,349 2,349 2,349 2,349 2,349 2,349
New York Value Municipal Income Trust......... 10/31 2,147 2,147 2,147 2,147 2,147 2,147
Ohio Quality Municipal Trust.................. 10/31 2,138 2,138 2,138 2,138 2,138 2,138
Ohio Value Municipal Income Trust............. 10/31 1,738 1,738 1,738 1,738 1,738 1,738
Pennsylvania Quality Municipal Trust.......... 10/31 2,705 2,705 2,705 2,705 2,705 2,705
Pennsylvania Value Municipal Income Trust..... 10/31 2,190 2,190 2,190 2,190 2,190 2,190
</Table>
D-1
ANNEX D -- (CONTINUED)
<Table>
<Caption>
NAME OF FUND FISCAL YEAR-END ARCH DAMMEYER KERR MYERS SONNENSCHEIN WHALEN
------------ --------------- ---- -------- ---- ----- ------------ ------
Select Sector Municipal Trust................. 10/31 2,087 2,087 2,087 2,087 2,087 2,087
Strategic Sector Municipal Trust.............. 10/31 3,003 3,003 3,003 3,003 3,003 3,003
Trust for Insured Municipals.................. 10/31 3,009 3,009 3,009 3,009 3,009 3,009
Trust for Investment Grade California
Municipals................................... 10/31 2,229 2,229 2,229 2,229 2,229 2,229
Trust for Investment Grade Florida
Municipals................................... 10/31 2,232 2,232 2,232 2,232 2,232 2,232
Trust for Investment Grade Municipals......... 10/31 5,853 5,853 5,853 5,853 5,853 5,853
Trust for Investment Grade New Jersey
Municipals................................... 10/31 2,252 2,252 2,252 2,252 2,252 2,252
Trust for Investment Grade New York
Municipals................................... 10/31 2,504 2,504 2,504 2,504 2,504 2,504
Trust for Investment Grade Pennsylvania
Municipals................................... 10/31 2,683 2,683 2,683 2,683 2,683 2,683
Value Municipal Income Trust.................. 10/31 4,994 4,994 4,994 4,944 4,994 4,994
High Income Trust............................. 12/31 2,174 2,174 2,174 2,174 2,174 2,174
High Income Trust II.......................... 12/31 2,011 2,011 2,011 2,011 2,011 2,011
Income Trust.................................. 12/31 2,151 2,151 2,151 2,151 2,151 2,151
</Table>
D-2
ANNEX E
2001 AGGREGATE COMPENSATION DEFERRED FOR EACH FUND
<Table>
<Caption>
FUND FISCAL YEAR-END DAMMEYER SONNENSCHEIN WHALEN
---- --------------- -------- ------------ ------
Bond Fund................................................... 06/30 $ 2,771 $ 2,771 $ 2,771
California Municipal Trust.................................. 06/30 1,805 1,805 1,805
Municipal Income Trust...................................... 06/30 4,043 4,043 4,043
Senior Income Trust......................................... 07/31 14,944 14,944 14,944
Advantage Municipal Income Trust............................ 10/31 4,511 4,511 4,511
Advantage Municipal Income Trust II......................... 10/31 2,677 2,677 2,677
Advantage Pennsylvania Municipal Income Trust............... 10/31 2,182 2,182 2,182
California Quality Municipal Trust.......................... 10/31 2,943 2,182 2,182
California Value Municipal Income Trust..................... 10/31 2,459 2,459 2,459
Florida Quality Municipal Trust............................. 10/31 2,453 2,453 2,453
Investment Grade Municipal Trust............................ 10/31 1,936 1,936 1,936
Massachusetts Value Municipal Income Trust.................. 10/31 1,899 1,899 1,899
Municipal Opportunity Trust................................. 10/31 3,978 3,978 3,978
Municipal Opportunity Trust II.............................. 10/31 3,200 3,200 3,200
Municipal Trust............................................. 10/31 6,703 6,703 6,703
New York Quality Municipal Trust............................ 10/31 2,349 2,349 2,349
New York Value Municipal Income Trust....................... 10/31 2,147 2,147 2,147
Ohio Quality Municipal Trust................................ 10/31 2,138 2,138 2,138
Ohio Value Municipal Income Trust........................... 10/31 1,738 1,738 1,738
Pennsylvania Quality Municipal Trust........................ 10/31 2,705 2,705 2,705
Pennsylvania Value Municipal Income Trust................... 10/31 2,190 2,190 2,190
Select Sector Municipal Trust............................... 10/31 2,087 2,087 2,087
Strategic Sector Municipal Trust............................ 10/31 3,003 3,003 3,003
Trust for Insured Municipals................................ 10/31 3,009 3,009 3,009
Trust for Investment Grade California Municipals............ 10/31 2,229 2,229 2,229
Trust for Investment Grade Florida Municipals............... 10/31 2,232 2,232 2,232
Trust for Investment Grade Municipals....................... 10/31 5,853 5,853 5,853
Trust for Investment Grade New Jersey Municipals............ 10/31 2,252 2,252 2,252
</Table>
E-1
ANNEX E -- (CONTINUED)
<Table>
<Caption>
FUND FISCAL YEAR-END DAMMEYER SONNENSCHEIN WHALEN
---- --------------- -------- ------------ ------
Trust for Investment Grade New York Municipals.............. 10/31 2,504 2,504 2,504
Trust for Investment Grade Pennsylvania Municipals.......... 10/31 2,683 2,683 2,683
Value Municipal Income Trust................................ 10/31 4,994 4,994 4,994
High Income Trust........................................... 12/31 2,174 2,174 2,174
High Income Trust II........................................ 12/31 2,011 2,011 2,011
Income Trust................................................ 12/31 2,151 2,151 2,151
</Table>
E-2
ANNEX F
CUMULATIVE COMPENSATION DEFERRED (PLUS INTEREST) FROM EACH FUND
<Table>
<Caption>
FUND FISCAL YEAR-END DAMMEYER KERR SONNENSCHEIN WHALEN
---- --------------- -------- ---- ------------ ------
Bond Fund................................................... 06/30 $ 9,691 $ 2,079 $10,060 $10,149
California Municipal Trust.................................. 06/30 22,867 21,092 23,947 20,048
Municipal Income Trust...................................... 06/30 30,657 22,505 31,822 28,008
Senior Income Trust......................................... 07/31 45,701 7,558 46,252 46,537
Advantage Municipal Income Trust............................ 10/31 30,562 21,513 31,026 27,575
Advantage Municipal Income Trust II......................... 10/31 24,531 20,482 25,057 21,547
Advantage Pennsylvania Municipal Income Trust............... 10/31 22,936 20,208 23,478 19,953
California Quality Municipal Trust.......................... 10/31 25,419 20,638 25,935 22,434
California Value Municipal Income Trust..................... 10/31 23,792 20,352 24,324 20,807
Florida Quality Municipal Trust............................. 10/31 23,807 20,356 24,340 20,823
Investment Grade Municipal Trust............................ 10/31 22,132 20,077 22,683 19,150
Massachusetts Value Municipal Income Trust.................. 10/31 21,978 20,044 22,529 18,994
Municipal Opportunity Trust................................. 10/31 28,797 21,205 29,278 25,810
Municipal Opportunity Trust II.............................. 10/31 26,279 20,781 26,787 23,295
Municipal Trust............................................. 10/31 38,107 22,876 38,498 35,124
New York Quality Municipal Trust............................ 10/31 23,453 20,296 23,990 20,469
New York Value Municipal Income Trust....................... 10/31 22,789 20,182 23,333 19,806
Ohio Quality Municipal Trust................................ 10/31 22,791 20,185 23,334 19,807
Ohio Value Municipal Income Trust........................... 10/31 21,472 19,962 22,029 18,489
Pennsylvania Quality Municipal Trust........................ 10/31 24,687 20,506 25,210 21,704
Pennsylvania Value Municipal Income Trust................... 10/31 22,934 20,207 23,476 19,950
Select Sector Municipal Trust............................... 10/31 22,603 20,154 23,148 19,620
Strategic Sector Municipal Trust............................ 10/31 25,601 20,664 26,115 22,616
Trust for Insured Municipals................................ 10/31 25,435 20,674 25,969 22,470
Trust for Investment Grade California Municipals............ 10/31 23,064 20,237 23,606 20,082
Trust for Investment Grade Florida Municipals............... 10/31 44,869 40,161 45,880 38,815
Trust for Investment Grade Municipals....................... 10/31 33,983 22,269 34,494 31,083
Trust for Investment Grade New Jersey Municipals............ 10/31 44,355 40,226 45,446 38,384
Trust for Investment Grade New York Municipals.............. 10/31 24,029 20,384 24,555 21,040
</Table>
F-1
ANNEX F -- (CONTINUED)
<Table>
<Caption>
FUND FISCAL YEAR-END DAMMEYER KERR SONNENSCHEIN WHALEN
---- --------------- -------- ---- ------------ ------
Trust for Investment Grade Pennsylvania Municipals.......... 10/31 24,681 20,491 25,197 21,688
Value Municipal Income Trust................................ 10/31 32,129 21,775 32,576 29,140
High Income Trust........................................... 12/31 25,757 20,928 25,676 21,940
High Income Trust II........................................ 12/31 25,048 20,815 24,990 21,247
Income Trust................................................ 12/31 8,615 1,629 8,590 8,652
</Table>
F-2
ANNEX G
TRUSTEE OWNERSHIP OF COMMON SHARES OF THE FUNDS AS OF APRIL 12, 2002
The table below indicates the number of Common Shares of the respective
Funds listed below owned by each Trustee listed below as of April 12, 2002, and
the percentage of such Trustee's Common Shares to the total Common Shares
outstanding for such Fund is shown in parenthesis when such ownership
individually exceeds 1% of the total Common Shares outstanding.
<Table>
<Caption>
ARCH DAMMEYER MYERS SONNENSCHEIN WHALEN
---- -------- ----- ------------ ------
Advantage Municipal Income Trust................... 300 175,291 -- 300 726
Advantage Municipal Income Trust II(1)............. 500 163,402(2.00%) -- 350 500
High Income Trust(2)............................... 676 140,327(1.02%) 100,000 -- 20,129
High Income Trust II............................... 550 -- 135 -- 465
Investment Grade Municipal Trust................... 524 -- -- -- 739
Municipal Income Trust............................. 577 -- 100 -- 744
Municipal Opportunity Trust........................ 300 -- -- -- 734
Municipal Opportunity Trust II(3).................. -- 129,082(1.10%) -- 350 500
Municipal Trust.................................... 800 38,642 20,900 -- 750
Select Sector Municipal Trust...................... 508 28,752 -- 350 500
Senior Income Trust................................ -- -- -- 500 300
Strategic Sector Municipal Trust................... 500 100,165 -- -- --
Trust for Insured Municipal........................ 300 9,000 -- -- 762
Trust for Investment Grade Municipals.............. 300 32,426 -- -- 753
Value Municipal Income Trust....................... -- 79,039 -- -- --
</Table>
- ---------------
(1) The Trustees as a group own 2.02% of the total Common Shares outstanding of
Advantage Municipal Income Trust II
(2) The Trustees as a group own 1.90% of the total Common Shares outstanding of
High Income Trust
(3) The Trustees as a group own 1.11% of the total Common Shares outstanding of
Municipal Opportunity Trust II
G-1
ANNEX H
TRUSTEE BENEFICIAL OWNERSHIP OF SECURITIES
The table below indicates the aggregate dollar range of equity securities of
the respective Funds listed below owned by each Trustee listed below as of April
12, 2002.
<Table>
<Caption>
INDEPENDENT TRUSTEES
--------------------------------------------------------------------------------
ARCH DAMMEYER KERR MYERS SONNENSCHEIN
---- -------- ---- ----- ------------
Advantage Municipal Income Trust..... $1-$10,000 over $100,000 -- -- $1-$10,000
Advantage Municipal Income Trust
II.................................. $1-$10,000 over $100,000 -- -- $1-$10,000
High Income Trust.................... $1-$10,000 over $100,000 -- over $100,000 --
High Income Trust II................. $1-$10,000 -- -- $1-$10,000 --
Investment Grade Municipal Trust..... $1-$10,000 -- -- -- --
Municipal Income Trust............... $1-$10,000 -- -- $1-$10,000 --
Municipal Opportunity Trust.......... $1-$10,000 -- -- -- --
Municipal Opportunity Trust II....... -- over $100,000 -- -- $1-$10,000
Municipal Trust...................... $10,001-$50,000 over $100,000 -- over $100,000 --
Select Sector Municipal Trust........ $1-$10,000 over $100,000 -- -- $1-$10,000
Senior Income Trust.................. -- -- -- -- $1-$10,000
Strategic Sector Municipal Trust..... $1-$10,000 over $100,000 -- -- --
Trust for Insured Municipal.......... $1-$10,000 over $100,000 -- -- --
Trust for Investment Grade
Municipals.......................... $1-$10,000 over $100,000 -- -- --
Value Municipal Income Trust......... -- over $100,000 -- -- --
Aggregate Dollar Range of Equity
Securities in all Registered
Investment Companies Overseen by
Trustee in the Closed-End Fund
Complex............................. $50,001-$100,000 over $100,000 $1-$10,000 over $100,000 $10,001-$50,000
<Caption>
INTERESTED TRUSTEES
-----------------------------
POWERS WHALEN
------ ------
Advantage Municipal Income Trust..... -- $10,001-$50,000
Advantage Municipal Income Trust
II.................................. -- $1-$10,000
High Income Trust.................... -- $50,001-$100,000
High Income Trust II................. -- $1-$10,000
Investment Grade Municipal Trust..... -- $1-$10,000
Municipal Income Trust............... -- $1-$10,000
Municipal Opportunity Trust.......... -- $10,001-$50,000
Municipal Opportunity Trust II....... -- $1-$10,000
Municipal Trust...................... -- $10,001-$50,000
Select Sector Municipal Trust........ -- $1-$10,000
Senior Income Trust.................. -- $1-$10,000
Strategic Sector Municipal Trust..... -- --
Trust for Insured Municipal.......... -- $1-$10,000
Trust for Investment Grade
Municipals.......................... -- $1-$10,000
Value Municipal Income Trust......... -- --
Aggregate Dollar Range of Equity
Securities in all Registered
Investment Companies Overseen by
Trustee in the Closed-End Fund
Complex............................. $1-$10,000 over $100,000
</Table>
H-1
ANNEX I
VAN KAMPEN CLOSED-END FUNDS
The following list sets forth the amounts of audit fees and all other fees
paid by each Fund during the Fund's last fiscal years to D&T.
<Table>
<Caption>
ALL OTHER
FUND NAME AUDIT FEES FEES*
--------- ---------- ---------
Van Kampen Municipal Income Trust $25,000 $3,500
Van Kampen California Municipal Trust 19,200 3,500
Van Kampen Investment Grade Municipal Trust 20,000 3,500
Van Kampen Select Sector Municipal Trust 20,000 3,500
Van Kampen Municipal Trust 25,000 3,500
Van Kampen California Quality Municipal Trust 25,000 3,500
Van Kampen New York Quality Municipal Trust 20,000 3,500
Van Kampen Pennsylvania Quality Municipal Trust 20,000 3,500
Van Kampen Florida Quality Municipal Trust 20,000 3,500
Van Kampen Ohio Quality Municipal Trust 20,000 3,500
Van Kampen Trust for Insured Municipals 25,000 3,500
Van Kampen Trust for Investment Grade Municipals 25,000 3,500
Van Kampen Trust for Investment Grade California Municipals 20,000 3,500
Van Kampen Trust for Investment Grade New York Municipals 20,000 3,500
Van Kampen Trust for Investment Grade Pennsylvania 20,000 3,500
Municipals
Van Kampen Trust for Investment Grade Florida Municipals 20,000 3,500
Van Kampen Trust for Investment Grade New Jersey Municipals 20,000 3,500
Van Kampen Municipal Opportunity Trust 25,000 3,500
Van Kampen Advantage Municipal Income Trust 25,000 3,500
Van Kampen Advantage Pennsylvania Municipal Income Trust 20,000 3,500
Van Kampen Ohio Value Municipal Income Trust 20,000 3,500
Van Kampen Massachusetts Value Municipal Income Trust 20,000 3,500
Van Kampen Strategic Sector Municipal Trust 23,600 3,500
Van Kampen New York Value Municipal Income Trust 20,000 3,500
Van Kampen California Value Municipal Income Trust 20,000 3,500
Van Kampen Pennsylvania Value Municipal Income Trust 20,000 3,500
Van Kampen Value Municipal Income Trust 25,000 3,500
Van Kampen Municipal Opportunity Trust II 25,000 3,500
Van Kampen Advantage Municipal Income Trust II 20,000 3,500
Van Kampen High Income Trust 35,000 3,500
Van Kampen High Income Trust II 35,000 3,500
Van Kampen Senior Income Trust 60,000 2,000
Van Kampen Bond Fund 23,750 1,500
Van Kampen Income Trust 20,500 1,500
</Table>
* "All Other Fees" include tax review fees and agreed upon procedures quarterly
for leveraged closed end funds fees.
I-1
[VAN KAMPEN FUNDS LOGO]
VKCL 02
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN XXXXXXXXXX
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Common Shares of VAN KAMPEN XXXXXXXXXX,
a XXXXXXXXXX business trust (the "Fund"), hereby appoints John L.
Sullivan, Scott P. Pedersen and Elizabeth A. Nelson and each of
them or their respective designees, with full power of
substitution and revocation, as proxies to represent the
undersigned at the Joint Annual Meeting of Shareholders to be
held at the offices of Van Kampen Investments, Inc., 1 Parkview
Plaza, Oakbrook Terrace, Illinois 60181-5555, on Wednesday, June
12, 2002 at 3:00 p.m., and any and all adjournments thereof (the
"Meeting"), and thereat to vote all Common Shares which the
undersigned would be entitled to vote, with all powers the
undersigned would possess if personally present, in accordance
with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as Class I Trustees, the FOR ALL
nominees named below: FOR WITHHOLD EXCEPT
[ ] [ ] [ ]
David C. Arch and Howard J Kerr
TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
CHECK "FOR ALL EXCEPT" AND WRITE THE NOMINEE'S NAME ON THE
LINE BELOW.
------------------------------------------------------------
To transact such other business as may properly come before
2. the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date ________________ , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN SELECT SECTOR MUNICIPAL TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Common Shares of VAN KAMPEN SELECT
SECTOR MUNICIPAL TRUST, a Massachusetts business trust (the
"Fund"), hereby appoints John L. Sullivan, Scott P. Pedersen and
Elizabeth A. Nelson and each of them or their respective
designees, with full power of substitution and revocation, as
proxies to represent the undersigned at the Joint Meeting of
Shareholders to be held at the offices of Van Kampen Investments
Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois 60181-5555, on
Wednesday, June 12, 2002 at 3:00 p.m., and any and all
adjournments thereof (the "Meeting"), and thereat to vote all
Common Shares which the undersigned would be entitled to vote,
with all powers the undersigned would possess if personally
present, in accordance with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class II Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Wayne W. Whalen
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date ________________, 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN XXXXXXXXX
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Common Shares of VAN KAMPEN XXXXXXXXX,
a Pennsylvania trust (the "Fund"), hereby appoints John L.
Sullivan, Scott P. Pedersen and Elizabeth A. Nelson and each of
them or their respective designees, with full power of
substitution and revocation, as proxies to represent the
undersigned at the Joint Annual Meeting of Shareholders to be
held at the offices of Van Kampen Investments Inc., 1 Parkview
Plaza, Oakbrook Terrace, Illinois 60181-5555, on Wednesday, June
12, 2002 at 3:00 p.m., and any and all adjournments thereof (the
"Meeting"), and thereat to vote all Common Shares which the
undersigned would be entitled to vote, with all powers the
undersigned would possess if personally present, in accordance
with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class I Trustee, the FOR ALL
nominee named below: FOR WITHHOLD EXCEPT
[ ] [ ] [ ]
David C. Arch and Howard J Kerr
TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
CHECK "FOR ALL EXCEPT" AND THE NOMINEE'S NAME ON THE LINE
BELOW.
------------------------------------------------------------
To transact such other business as may properly come before
2. the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date ________________, 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN SELECT SECTOR MUNICIPAL TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN SELECT
SECTOR MUNICIPAL TRUST, a Massachusetts business trust (the
"Fund"), hereby appoints John L. Sullivan, Scott P. Pedersen and
Elizabeth A. Nelson and each of them or their respective
designees, with full power of substitution and revocation, as
proxies to represent the undersigned at the Joint Annual Meeting
of Shareholders to be held at the offices of Van Kampen
Investments Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois
60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m., and any and
all adjournments thereof (the "Meeting"), and thereat to vote all
Common Shares which the undersigned would be entitled to vote,
with all powers the undersigned would possess if personally
present, in accordance with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class II Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Rod Dammeyer
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date ________________, 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN
PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST, a Pennsylvania trust
(the "Fund"), hereby appoints John L. Sullivan, Scott P. Pedersen
and Elizabeth A. Nelson and each of them or their respective
designees, with full power of substitution and revocation, as
proxies to represent the undersigned at the Joint Annual Meeting
of Shareholders to be held at the offices of Van Kampen
Investments Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois
60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m., and any and
all adjournments thereof (the "Meeting"), and thereat to vote all
Common Shares which the undersigned would be entitled to vote,
with all powers the undersigned would possess if personally
present, in accordance with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN XXXXXXXXX
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Common Shares of VAN KAMPEN XXXXXXXXX,
a Massachusetts business trust (the "Fund"), hereby appoints John
L. Sullivan, Scott P. Pedersen and Elizabeth A. Nelson and each
of them or their respective designees, with full power of
substitution and revocation, as proxies to represent the
undersigned at the Joint Annual Meeting of Shareholders to be
held at the offices of Van Kampen Investments Inc., 1 Parkview
Plaza, Oakbrook Terrace, Illinois 60181-5555, on Wednesday, June
12, 2002 at 3:00 p.m., and any and all adjournments thereof (the
"Meeting"), and thereat to vote all Common Shares which the
undersigned would be entitled to vote, with all powers the
undersigned would possess if personally present, in accordance
with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as Class III Trustees, FOR ALL
the nominees named below: FOR WITHHOLD EXCEPT
[ ] [ ] [ ]
Richard F. Powers, III and Hugo F. Sonnenschein
TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
CHECK "FOR ALL EXCEPT" AND WRITE THE NOMINEE'S NAME ON THE
LINE BELOW.
------------------------------------------------------------
To transact such other business as may properly come before
2. the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date ________________, 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN XXXXXXXXXX
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Common Shares of VAN KAMPEN XXXXXXXXXX,
a Pennsylvania trust (the "Fund"), hereby appoints John L.
Sullivan, Scott P. Pedersen and Elizabeth A. Nelson and each of
them or their respective designees, with full power of
substitution and revocation, as proxies to represent the
undersigned at the Joint Annual Meeting of Shareholders to be
held at the offices of Van Kampen Investments, Inc., 1 Parkview
Plaza, Oakbrook Terrace, Illinois 60181-5555, on Wednesday, June
12, 2002 at 3:00 p.m., and any and all adjournments thereof (the
"Meeting"), and thereat to vote all Common Shares which the
undersigned would be entitled to vote, with all powers the
undersigned would possess if personally present, in accordance
with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as Class III Trustees, FOR ALL
the nominees named below: FOR WITHHOLD EXCEPT
[ ] [ ] [ ]
Richard F. Powers, III and Hugo F. Sonnenschein
TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
CHECK "FOR ALL EXCEPT" AND WRITE THE NOMINEE'S NAME ON THE
LINE BELOW.
------------------------------------------------------------
To transact such other business as may properly come before
2. the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date ________________, 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN INVESTMENT GRADE MUNICIPAL TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN
INVESTMENT GRADE MUNICIPAL TRUST, a Massachusetts business trust
(the "Fund"), hereby appoints John L. Sullivan, Scott P. Pedersen
and Elizabeth A. Nelson and each of them or their respective
designees, with full power of substitution and revocation, as
proxies to represent the undersigned at the Joint Annual Meeting
of Shareholders to be held at the offices of Van Kampen
Investments, Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois
60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m., and any and
all adjournments thereof (the "Meeting"), and thereat to vote all
Common Shares which the undersigned would be entitled to vote,
with all powers the undersigned would possess if personally
present, in accordance with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN
ADVANTAGE MUNICIPAL INCOME TRUST II, a Massachusetts business
trust (the "Fund"), hereby appoints John L. Sullivan, Scott P.
Pedersen and Elizabeth A. Nelson and each of them or their
respective designees, with full power of substitution and
revocation, as proxies to represent the undersigned at the Joint
Annual Meeting of Shareholders to be held at the offices of Van
Kampen Investments, Inc., 1 Parkview Plaza, Oakbrook Terrace,
Illinois 60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m.,
and any and all adjournments thereof (the "Meeting"), and thereat
to vote all Common Shares which the undersigned would be entitled
to vote, with all powers the undersigned would possess if
personally present, in accordance with the following
instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST II
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN
MUNICIPAL OPPORTUNITY TRUST II, a Massachusetts business trust
(the "Fund"), hereby appoints John L. Sullivan, Scott P. Pedersen
and Elizabeth A. Nelson and each of them or their respective
designees, with full power of substitution and revocation, as
proxies to represent the undersigned at the Joint Annual Meeting
of Shareholders to be held at the offices of Van Kampen
Investments, Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois
60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m., and any and
all adjournments thereof (the "Meeting"), and thereat to vote all
Common Shares which the undersigned would be entitled to vote,
with all powers the undersigned would possess if personally
present, in accordance with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN STRATEGIC SECTOR MUNICIPAL TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN
STRATEGIC SECTOR MUNICIPAL TRUST, a Massachusetts business trust
(the "Fund"), hereby appoints John L. Sullivan, Scott P. Pedersen
and Elizabeth A. Nelson and each of them or their respective
designees, with full power of substitution and revocation, as
proxies to represent the undersigned at the Joint Annual Meeting
of Shareholders to be held at the offices of Van Kampen
Investments, Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois
60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m., and any and
all adjournments thereof (the "Meeting"), and thereat to vote all
Common Shares which the undersigned would be entitled to vote,
with all powers the undersigned would possess if personally
present, in accordance with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN
CALIFORNIA VALUE MUNICIPAL INCOME TRUST, a Massachusetts business
trust (the "Fund"), hereby appoints John L. Sullivan, Scott P.
Pedersen and Elizabeth A. Nelson and each of them or their
respective designees, with full power of substitution and
revocation, as proxies to represent the undersigned at the Joint
Annual Meeting of Shareholders to be held at the offices of Van
Kampen Investments, Inc., 1 Parkview Plaza, Oakbrook Terrace,
Illinois 60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m.,
and any and all adjournments thereof (the "Meeting"), and thereat
to vote all Common Shares which the undersigned would be entitled
to vote, with all powers the undersigned would possess if
personally present, in accordance with the following
instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN VALUE MUNICIPAL INCOME TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN VALUE
MUNICIPAL INCOME TRUST, a Massachusetts business trust (the
"Fund"), hereby appoints John L. Sullivan, Scott P. Pedersen and
Elizabeth A. Nelson and each of them or their respective
designees, with full power of substitution and revocation, as
proxies to represent the undersigned at the Joint Annual Meeting
of Shareholders to be held at the offices of Van Kampen
Investments, Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois
60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m., and any and
all adjournments thereof (the "Meeting"), and thereat to vote all
Common Shares which the undersigned would be entitled to vote,
with all powers the undersigned would possess if personally
present, in accordance with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN MASSACHUSETTS VALUE MUNICIPAL INCOME TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN
MASSACHUSETTS VALUE MUNICIPAL INCOME TRUST, a Massachusetts
business trust (the "Fund"), hereby appoints John L. Sullivan,
Scott P. Pedersen and Elizabeth A. Nelson and each of them or
their respective designees, with full power of substitution and
revocation, as proxies to represent the undersigned at the Joint
Annual Meeting of Shareholders to be held at the offices of Van
Kampen Investments, Inc., 1 Parkview Plaza, Oakbrook Terrace,
Illinois 60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m.,
and any and all adjournments thereof (the "Meeting"), and thereat
to vote all Common Shares which the undersigned would be entitled
to vote, with all powers the undersigned would possess if
personally present, in accordance with the following
instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN OHIO VALUE MUNICIPAL INCOME TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN OHIO
VALUE MUNICIPAL INCOME TRUST, a Massachusetts business trust (the
"Fund"), hereby appoints John L. Sullivan, Scott P. Pedersen and
Elizabeth A. Nelson and each of them or their respective
designees, with full power of substitution and revocation, as
proxies to represent the undersigned at the Joint Annual Meeting
of Shareholders to be held at the offices of Van Kampen
Investments, Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois
60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m., and any and
all adjournments thereof (the "Meeting"), and thereat to vote all
Common Shares which the undersigned would be entitled to vote,
with all powers the undersigned would possess if personally
present, in accordance with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN NEW YORK VALUE MUNICIPAL INCOME TRUST
JOINT MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Preferred Shares of VAN KAMPEN NEW YORK
VALUE MUNICIPAL INCOME TRUST, a Massachusetts business trust (the
"Fund"), hereby appoints John L. Sullivan, Scott P. Pedersen and
Elizabeth A. Nelson and each of them or their respective
designees, with full power of substitution and revocation, as
proxies to represent the undersigned at the Joint Annual Meeting
of Shareholders to be held at the offices of Van Kampen
Investments, Inc., 1 Parkview Plaza, Oakbrook Terrace, Illinois
60181-5555, on Wednesday, June 12, 2002 at 3:00 p.m., and any and
all adjournments thereof (the "Meeting"), and thereat to vote all
Common Shares which the undersigned would be entitled to vote,
with all powers the undersigned would possess if personally
present, in accordance with the following instructions.
Account No. No. of Shares Proxy No.
<Table>
1. Authority to vote for the election as a Class III Trustee,
the nominee named below: FOR WITHHOLD
[ ] [ ]
Theodore A. Myers
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date , 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN BOND FUND TRUST
JOINT SPECIAL MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Common Shares of VAN KAMPEN BOND FUND,
a Delaware business trust (the "Fund"), hereby appoints John L.
Sullivan, Scott P. Pedersen and Elizabeth A. Nelson and each of
them or their respective designees, with full power of
substitution and revocation, as proxies to represent the
undersigned at the Joint Annual Meeting of Shareholders to be
held at the offices of Van Kampen Inc., 1 Parkview Plaza,
Oakbrook Terrace, Illinois 60181-5555, on Wednesday, June 12,
2002 at 3:00 p.m., and any and all adjournments thereof (the
"Meeting"), and thereat to vote all common shares which the
undersigned would be entitled to vote, with all powers the
undersigned would possess if personally present, in accordance
with the following instructions.
Account No. No. of Shares Class of Shares Proxy No.
<Table>
1. Authority to vote for the election as Class I Trustees, the FOR ALL
nominees named below: FOR WITHHOLD EXCEPT
David C. Arch and Howard J Kerr [ ] [ ] [ ]
TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
CHECK "FOR ALL EXCEPT" AND WRITE THE NOMINEE'S NAME ON THE
LINE BELOW.
------------------------------------------------------------
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date ________________, 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.
[X] PLEASE MARK
VOTES AS IN
THIS EXAMPLE FORM OF PROXY
VAN KAMPEN INCOME TRUST FUND
JOINT SPECIAL MEETING OF SHAREHOLDERS
PROXY SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
The undersigned holder of Common Shares of VAN KAMPEN INCOME
TRUST, a Massachusetts business trust (the "Fund"), hereby
appoints John L. Sullivan, Scott P. Pedersen and Elizabeth A.
Nelson and each of them or their respective designees, with full
power of substitution and revocation, as proxies to represent the
undersigned at the Joint Annual Meeting of Shareholders to be
held at the offices of Van Kampen Inc., 1 Parkview Plaza,
Oakbrook Terrace, Illinois 60181-5555, on Wednesday, June 12,
2002 at 3:00 p.m., and any and all adjournments thereof (the
"Meeting"), and thereat to vote all common shares which the
undersigned would be entitled to vote, with all powers the
undersigned would possess if personally present, in accordance
with the following instructions.
Account No. No. of Shares Class of Shares Proxy No.
<Table>
1. Authority to vote for the election as Class II Trustees, the FOR ALL
nominees named below: FOR WITHHOLD EXCEPT
Wayne W. Whalen and Rod Dammeyer [ ] [ ] [ ]
TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
CHECK "FOR ALL EXCEPT" AND WRITE THE NOMINEE'S NAME ON THE
LINE BELOW.
------------------------------------------------------------
2. To transact such other business as may properly come before
the Meeting.
</Table>
If more than one of the proxies, or their substitutes, are
present at the Meeting or any adjournment thereof, they jointly
(or, if only one is present and voting then that one) shall have
authority and may exercise all powers granted hereby. This Proxy,
when properly executed, will be voted in accordance with the
instructions marked hereon by the undersigned. IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED "FOR" THE
PROPOSAL DESCRIBED HEREIN AND IN THE DISCRETION OF THE PROXIES
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.
THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ACCOMPANYING
NOTICE OF MEETING AND PROXY STATEMENT FOR THE MEETING TO BE HELD
ON JUNE 12, 2002.
Date ________________, 2002
----------------------------
Shareholder signature
----------------------------
Co-owner signature (if
applicable)
Please sign this Proxy
exactly as your name or
names appear on the books of
the Fund. When signing as
attorney, trustee, executor,
administrator, custodian,
guardian or corporate
officer, please give full
title. If shares are held
jointly, each holder must
sign.