Invesco Quality Municipal Securities (NYSE:IQM)
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The Morgan Stanley Municipal Closed-End Funds (the “Funds”)
listed below hereby announce the dates for the partial redemptions of
their respective auction rate preferred shares (ARPS). The announced
partial redemptions total $56.85 million and represent approximately
another 7.17 percent of the total outstanding ARPS issued by the Funds,
bringing the total announced redemptions to 24.1% of the total
outstanding ARPS issued.
This redemption announcement follows the July 11, 2008 press release in
which Morgan Stanley announced the initial redemption of a portion of
the Funds’ ARPS with the use of tender option
bonds (TOBs).
The amount of ARPS being redeemed at this time varies by Fund and ranges
between 4 percent and 15 percent of the ARPS outstanding for each Fund
based on a number of factors, including the interests of the common
shareholders, the availability of high quality municipal bonds at
certain yield levels to be transferred to the trust structure and the
ability to secure liquidity providers for the put feature.
With respect to this partial redemption, The Depository Trust Company
(DTC), the securities’ holder of record, will
determine how the partial series redemptions will be allocated among
each participant broker-dealer account. Each participant broker-dealer,
as nominee for underlying beneficial owners (street name shareholders),
in turn will determine how redeemed shares are to be allocated among its
underlying beneficial owners. The procedures used by various
broker-dealers to allocate redeemed shares among beneficial owners may
differ from each other as well as from the procedures used by DTC.
Redemption Schedule
MS California Insured Municipal Income Trust (NYSE:IIC)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
1
617-45P-601
12
$600,000
September 15, 2008
2
617-45P-700
25
$1,250,000
September 15, 2008
3
617-45P-809
31
$1,550,000
September 15, 2008
4
617-45P-882
12
$600,000
September 15, 2008
MS California Quality Municipal Securities (NYSE:IQC)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
1
617-45P-627
14
$700,000
September 9, 2008
2
617-45P-619
13
$650,000
September 11, 2008
3
617-45P-593
32
$1,600,000
September 9, 2008
MS Insured Municipal Bond Trust (NYSE:IMC)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
617-45P-353
45
$2,250,000
September 11, 2008
MS Insured Municipal Income Trust (NYSE:IIM)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
1
617-45P-783
15
$750,000
September 15, 2008
2
617-45P-775
34
$1,700,000
September 15, 2008
3
617-45P-767
38
$1,900,000
September 15, 2008
4
617-45P-759
15
$750,000
September 15, 2008
5
617-45P-742
15
$750,000
September 15, 2008
MS Insured Municipal Trust (NYSE:IMT)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
TU
617-45P-841
78
$3,900,000
September 10, 2008
TH
617-45P-858
176
$8,800,000
September 12, 2008
MS Municipal Premium Income Trust (NYSE:PIA)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
A
617-45P-411
13
$1,300,000
September 10, 2008
B
617-45P-395
13
$1,300,000
September 10, 2008
C
617-45P-387
13
$1,300,000
September 10, 2008
D
617-45P-379
13
$1,300,000
September 10, 2008
E
617-45P-361
13
$1,300,000
September 10, 2008
MS New York Quality Municipal Securities (NYSE:IQN)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
1
617-45P-510
36
$1,800,000
September 9, 2008
2
617-45P-494
31
$1,550,000
September 12, 2008
MS Quality Municipal Income Trust (NYSE:IQI)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
1
617-45P-726
42
$2,100,000
September 10, 2008
2
617-45P-718
15
$750,000
September 11, 2008
3
617-45P-692
42
$2,100,000
September 11, 2008
4
617-45P-684
42
$2,100,000
September 11, 2008
5
617-45P-676
15
$750,000
September 12, 2008
MS Quality Municipal Investment Trust (NYSE: IQT)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
A
617-45P-650
110
$5,500,000
September 10, 2008
B
617-45P-643
55
$2,750,000
September 12, 2008
MS Quality Municipal Securities (NYSE: IQM)
Series
CUSIP Number
# of Shares Redeemed
Amount Redeemed
Redemption Date
1
617-45P-577
11
$550,000
September 9, 2008
2
617-45P-569
10
$500,000
September 10, 2008
3
617-45P-551
10
$500,000
September 11, 2008
4
617-45P-544
20
$1,000,000
September 9, 2008
5
617-45P-536
13
$650,000
September 9, 2008
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advisory affiliates, has nearly 1,000 investment professionals around
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institutions, corporations and individuals worldwide.
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