Morgan Stanley Municipal Closed-End Funds Announce At Par Redemptions of Preferred Shares
August 22 2008 - 3:47PM
Business Wire
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 Morgan
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advisory affiliates, has nearly 1,000 investment professionals
around the world and approximately $605 billion in assets under
management or supervision as of May 31, 2008. By leveraging its
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