Van Kampen Asset Management announced today that the shareholders of Van Kampen New York Value Municipal Income Trust (NYSE/CHX: VNV) approved the reorganization of VNV into Van Kampen Trust for Investment Grade New York Municipals (NYSE/CHX: VTN) at a special meeting of shareholders held on October 21, 2005. In the reorganization, shareholders of VNV will receive newly issued shares of VTN. The transaction is currently expected to close on or about October 28, 2005, subject to the satisfaction of certain conditions. Van Kampen Asset Management is a subsidiary of Van Kampen Investments Inc. ("Van Kampen"). Van Kampen is one of the nation's largest investment management companies, with more than $104 billion in assets under management or supervision, as of September 30, 2005. With roots in money management dating back to 1927, Van Kampen has helped more than four generations of investors work toward their financial goals. Van Kampen is a wholly owned subsidiary of Morgan Stanley (NYSE: MWD). For more information, visit Van Kampen's web site at www.vankampen.com. 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 SEC's web site at www.sec.gov.
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