Morgan Stanley Investment Management Announces Portfolio Management Changes for Closed-End Municipal Funds

Morgan Stanley Investment Management announced today portfolio management changes for the Morgan Stanley closed-end municipal funds (the “Funds”). The Funds are managed by the Municipal Fixed Income team of Morgan Stanley Investment Advisors Inc. (the “Investment Adviser”). The Municipal Fixed Income team consists of portfolio managers and analysts. Current Municipal Fixed Income team members include: William D. Black, an Executive Director of the Investment Adviser, Thomas Byron, a Vice President of the Investment Adviser, Mark Paris, an Executive Director of the Investment Adviser, James D. Phillips, an Executive Director of the Investment Adviser, Neil Stone, a Managing Director of the Investment Adviser, Robert J. Stryker, a Vice President of the Investment Adviser, Julius Williams, a Vice President of the Investment Adviser, and Robert W. Wimmel, an Executive Director of the Investment Adviser.

Mr. Black has been associated with the Investment Adviser or its investment advisory affiliates in an investment management capacity since 1998. Mr. Byron has been associated with the Investment Adviser or its investment advisory affiliates in an investment management capacity since 1981. Mr. Paris has been associated with the Investment Adviser or its investment advisory affiliates in an investment management capacity since 2002. Mr. Phillips has been associated with the Investment Adviser or its investment advisory affiliates in an investment management capacity since 1991. Mr. Stone has been associated with the Investment Adviser or its investment advisory affiliates in an investment management capacity since 1995. Mr. Stryker has been associated with the Investment Adviser or its investment advisory affiliates in an investment management capacity since 1994. Mr. Williams has been associated with the Investment Adviser or its investment advisory affiliates in an investment management capacity since 2000. Mr. Wimmel has been associated with the Investment Adviser or its investment advisory affiliates in an investment management capacity since 1996.

For each of Morgan Stanley California Insured Municipal Income Trust (IIC), Morgan Stanley California Quality Municipal Securities (IQC), Morgan Stanley Insured California Municipal Securities (ICS), Morgan Stanley Insured Municipal Bond Trust (IMC), Morgan Stanley Insured Municipal Income Trust (IIM), Morgan Stanley Insured Municipal Securities (IMS), Morgan Stanley Insured Municipal Trust (IMT), Morgan Stanley Municipal Premium Income Trust (PIA), Morgan Stanley Quality Municipal Income Trust (IQI), Morgan Stanley Quality Municipal Investment Trust (IQT) and Morgan Stanley Quality Municipal Securities (IQM), the Municipal Fixed Income team members who have primary responsibility for the day-to-day management of such Fund's portfolio and the execution of the overall strategy of such Fund are Thomas Byron, Neil Stone, Robert J. Stryker and Robert W. Wimmel.

For each of Morgan Stanley Municipal Income Opportunities Trust (OIA), Morgan Stanley Municipal Income Opportunities Trust II (OIB) and Morgan Stanley Municipal Income Opportunities Trust III (OIC), the Municipal Fixed Income team members who have primary responsibility for the day-to-day management of such Fund's portfolio and the execution of the overall strategy of such Fund are William D. Black, Mark Paris, James D. Phillips and Robert J. Stryker.

For Morgan Stanley New York Quality Municipal Securities (IQN), the Municipal Fixed Income team members who have primary responsibility for the day-to-day management of such Fund's portfolio and the execution of the overall strategy of such Fund are Mark Paris, Neil Stone, Robert J. Stryker and Julius Williams.

The Investment Adviser, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $386 billion in assets under management or supervision as of September 30, 2009. By leveraging its global ‘community of boutiques’ structure and the strength of Morgan Stanley, the Investment Adviser strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 36 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.