Morgan Stanley Insured Municipal Trust Adopts Investment Policy Changes

  
    
  
  
    
      Morgan Stanley Insured Municipal Trust (NYSE: IMT) (the “Trust”) 
      has received shareholder approval to adopt changes to the Trust’s 
      investment policies, as described below. These changes are designed to 
      expand the investment universe in which the Trust can invest, thereby 
      providing the Trust’s portfolio management 
      team with important flexibility to respond to ongoing developments in 
      the insured municipal bond market. The Trust seeks to achieve its 
      investment objective by providing income which is exempt from federal 
      income tax. The Trust is not changing its investment objective.
    
    
      The Trust’s shareholders have approved the 
      following investment policy changes:
    
    
      
        To allow the Trust to invest up to 20 percent of the Trust’s 
        net assets in taxable or tax-exempt fixed income securities rated at 
        least investment grade by a nationally recognized statistical rating 
        organization (“NRSRO”) 
        or, if not rated, determined by the Trust’s 
        Investment Adviser to be of comparable quality, including uninsured 
        municipal obligations, obligations of the U.S. government, its 
        respective agencies or instrumentalities, and other fixed income 
        obligations, and, during periods in which the Investment Adviser 
        believes that changes in economic, financial or political conditions 
        make it advisable to do so, to invest an unlimited extent in such 
        investments for temporary defensive purposes. The Trust may also 
        invest in options, futures, swaps and other derivatives.
      
      
        The elimination and modification of certain fundamental investment 
        policies and restrictions of the Trust.
      
    
    
      The Trust did not achieve the required quorum to pass the proposal to 
      invest, under normal market conditions, at least 80 percent of the Trust’s 
      net assets in municipal obligations which are covered by insurance 
      guaranteeing the timely payment of principal and interest thereon and 
      that are rated at least “A” 
      by a NRSRO or are unrated but judged to be of similar credit quality by 
      the Trust’s Investment Adviser, or covered by 
      insurance issued by insurers rated at least “A” 
      by a NRSRO. Therefore, the shareholder meeting was adjourned with 
      respect to this proposal only.
    
    
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