VAN KAMPEN NEW YORK QUALITY MUNICIPAL TRUST CUSIP - 920-922-200
AND
VAN KAMPEN NEW YORK VALUE MUNICIPAL INCOME TRUST CUSIP 921-12Q-203
NOTICE OF PROPOSED REORGANIZATION
NOTICE IS HEREBY GIVEN that VAN KAMPEN NEW YORK QUALITY
MUNICIPAL TRUST ("New York Quality Municipal Trust") and VAN KAMPEN NEW YORK
VALUE MUNICIPAL INCOME TRUST ("New York Value Municipal Income Trust") are
scheduled to reorganize into VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK
MUNICIPALS (the "Acquiring Fund") after the close of business on October 28,
2005.
The Acquiring Fund currently has one series of auction
preferred shares ("APS"). After the reorganization is completed, the Acquiring
Fund will have three series of APS: (i) the Acquiring Fund's existing APS will
comprise Series A APS, and (ii) the Acquiring Fund will issue a new series of
APS ("Acquiring Fund Series B APS") in exchange for New York Quality Municipal
Trust's existing auction preferred shares ("New York Quality Municipal Trust
APS"), and (iii) the Acquiring Fund will issue a new series of APS ("Acquiring
Fund Series C APS") in exchange for New York Value Municipal Income Trust's
existing auction preferred shares ("New York Value Municipal Income Trust APS").
The number of days in the regular dividend period for Acquiring Fund Series B
APS and Acquiring Fund Series C APS will remain the same as the existing APS for
New York Quality Municipal Trust and New York Value Municipal Income Trust,
respectively (i.e., an auction for Acquiring Fund Series B APS will occur every
28 days and an auction for Acquiring Fund Series C APS will occur every 7 days,
unless the Acquiring Fund declares a special dividend period).
The previous auction for New York Quality Municipal Trust APS
occurred on October 3, 2005. On October 28, 2005, holders of New York Quality
Municipal Trust APS will receive a dividend representing the twenty-five day
period from October 4, 2005 through October 28, 2005. The initial dividend rate
for the Acquiring Fund Series B APS will be the rate as determined at the
October 3, 2005 auction for New York Quality Municipal Trust APS, and this rate
will continue until the next regularly scheduled auction for Acquiring Fund
Series B APS, which is expected to be on October 31, 2005 (i.e., 28 days after
October 3, 2005).
The next regularly scheduled auction for New York Value
Municipal Income Trust APS is expected to occur on October 26, 2005. On October
28, 2005, holders of New York Value Municipal Income Trust APS will receive a
dividend representing the two-day period from October 27, 2005 through October
28, 2005. The initial dividend rate for the Acquiring Fund Series C APS will be
the rate as determined at the October 26, 2005 auction for New York Value
Municipal Income Trust APS, and this rate will continue until the next regularly
scheduled auction for Acquiring Fund Series C APS, which is expected to be on
November 2, 2005 (i.e., 7 days after October 26, 2005).
The foregoing does not constitute an offer of any securities
for sale. The joint proxy statement/prospectus relating to the proposed
reorganization contains important information and shareholders are urged to read
it. Free copies of the joint proxy statement/prospectus are available by calling
Van Kampen's Client Relations Department at (800) 341-2929 or on the Securities
and Exchange Commission's web site at www.sec.gov.
VAN KAMPEN NEW YORK QUALITY
MUNICIPAL TRUST
VAN KAMPEN NEW YORK VALUE MUNICIPAL
INCOME TRUST
Dated: October 21, 2005 By: /s/ PHILLIP G. GOFF
-----------------------
Phillip G. Goff
Chief Financial Officer and
Treasurer