7/12/06 Invesco Muni Income Opportuni… Tr 40-17G 7/12/06 1:166K Capital Systems 01/FA Active Assets California Tax Free Trust Active Assets Government Securities Trust Active Assets Institutional Government Securities Trust Active Assets Institutional Money Trust Active Assets Money Trust Active Assets Tax Free Trust Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley California Insured Municipal Inco Morgan Stanley California Quality Municipal Secu Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley Equally-Weighted S&P 500 Fund Morgan Stanley European Equity Fund Inc. Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fundamental Value Fund Morgan Stanley Global Advantage Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Government Income Trust Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Income Securities Inc. Morgan Stanley Income Trust Morgan Stanley Information Fund Morgan Stanley Insured California Municipal SEC Morgan Stanley Insured Municipal Bond Trust Morgan Stanley Insured Municipal Income Trust Morgan Stanley Insured Municipal Securities Morgan Stanley Insured Municipal Trust Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley Liquid Asset Fund Inc. Morgan Stanley Ltd. Duration Fund Morgan Stanley Ltd. Duration US Treasury Trust Morgan Stanley Ltd. Term Municipal Trust Morgan Stanley Mid Cap Value Fund Morgan Stanley Mortgage Securities Trust Morgan Stanley Multi-Asset Class Fund Morgan Stanley Municipal Income Opportunities Trust II Morgan Stanley Municipal Income Opportunities Trust III Morgan Stanley Municipal Premium Income Trust Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Muni Money Market Trust Morgan Stanley New York Quality Municipal Securi Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Prime Income Trust Morgan Stanley Quality Municipal Income Trust Morgan Stanley Quality Municipal Investment Trus Morgan Stanley Quality Municipal Securities Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Select Dimensions Investment Series Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Tax Free Daily Income Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Money Market Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Fund Morgan Stanley Variable Investment Series 6/6/06 Morgan Stanley High Yield Se… Inc 497 6/6/06 1:103K Capital Systems 01/FA → Morgan Stanley High Yield Securities Inc. Morgan Stanley Aggressive Equity Fund → Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund → Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund → Morgan Stanley Focus Growth Fund Morgan Stanley Balanced Growth Fund → Morgan Stanley Balanced Fund Morgan Stanley Balanced Income Fund → Morgan Stanley Balanced Income Fund Morgan Stanley California Tax-Free Income Fund → Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust → Morgan Stanley Insight Fund Morgan Stanley Convertible Securities Trust → Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust → Morgan Stanley Mid Cap Growth Fund Morgan Stanley Dividend Growth Securities Inc. → Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley Equally-Weighted S&P 500 Fund → Morgan Stanley Equally-Weighted S&P 500 Fund Morgan Stanley European Equity Fund Inc. → Morgan Stanley Europe Opportunity Fund Inc. Morgan Stanley Financial Services Trust → Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust → Global Fixed Income Opportunities Fund Morgan Stanley Fundamental Value Fund → Morgan Stanley Fundamental Value Fund Morgan Stanley Global Advantage Fund → Morgan Stanley Global Advantage Fund Morgan Stanley Global Dividend Growth Securities → Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund → Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund → Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust → Morgan Stanley Health Sciences Trust Morgan Stanley Income Builder Fund → Morgan Stanley Income Builder Fund Morgan Stanley Income Trust → Morgan Stanley Income Trust Morgan Stanley Information Fund → Morgan Stanley Technology Fund Morgan Stanley International Fund → Morgan Stanley International Fund Morgan Stanley International Smallcap Fund → Morgan Stanley International SmallCap Fund Morgan Stanley International Value Equity Fund → Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund → Morgan Stanley Japan Fund Morgan Stanley Mid Cap Value Fund → Morgan Stanley Mid Cap Value Fund Morgan Stanley Mortgage Securities Trust → Morgan Stanley Mortgage Securities Trust Morgan Stanley Multi-Asset Class Fund → Morgan Stanley Multi-Asset Class Fund Morgan Stanley Nasdaq - 100 Index Fund → Morgan Stanley Nasdaq – 100 Index Fund Morgan Stanley Natural Resource Development SEC → Morgan Stanley Natural Resource Development Securities Morgan Stanley New York Tax-Free Income Fund → Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. → Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Real Estate Fund → Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund → Morgan Stanley S&P 500 Index Fund Morgan Stanley Small Mid Special Value Fund → Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund → Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund → Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund → Morgan Stanley Global Strategist Fund Morgan Stanley Tax Exempt Securities Trust → Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund → Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust → Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust → Morgan Stanley Long Duration Government Opportunities Fund Morgan Stanley Utilities Fund → Morgan Stanley Global Infrastructure Fund Morgan Stanley Value Fund → Morgan Stanley Value Fund 4/21/06‡ Morgan Stanley NY Tax-Free In… Fd 40-6C 4/24/06 1:53K SEC #7 Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley Equally-Weighted S&P 500 Fund Morgan Stanley European Equity Fund Inc. Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fundamental Value Fund Morgan Stanley Global Advantage Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley Hedge Fund Partners LP Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Income Trust Morgan Stanley Information Fund Morgan Stanley Institutional Fund Inc. Morgan Stanley Institutional Fund Trust Morgan Stanley Institutional Liquidity Funds Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Investment Advisors Inc. Morgan Stanley Investment Management Inc. Morgan Stanley Japan Fund Morgan Stanley Ltd. Duration Fund Morgan Stanley Ltd. Duration US Treasury Trust Morgan Stanley Ltd. Term Municipal Trust Morgan Stanley Mid Cap Value Fund Morgan Stanley Mortgage Securities Trust Morgan Stanley Multi-Asset Class Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Select Dimension Investment Series Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Tax Free Daily Income Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Money Market Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Fund Morgan Stanley Variable Investment Series Traxis Fund LP Universal Institutional Funds Inc. 3/28/06 Morgan Stanley Pacific Growt… Inc 497 3/28/06 1:119K Capital Systems 01/FA Active Assets California Tax Free Trust → Active Assets California Tax Free Trust Active Assets Government Securities Trust Active Assets Institutional Government Securities Trust Active Assets Institutional Money Trust Active Assets Money Trust Active Assets Tax Free Trust Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley Calif Tax Free Daily Income Trust Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley Equally-Weighted S&P 500 Fund Morgan Stanley European Equity Fund Inc. Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fundamental Value Fund Morgan Stanley Global Advantage Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Income Trust Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Liquid Asset Fund Inc. Morgan Stanley Ltd. Duration Fund Morgan Stanley Ltd. Duration US Treasury Trust Morgan Stanley Ltd. Term Municipal Trust Morgan Stanley Mid Cap Value Fund Morgan Stanley Mortgage Securities Trust Morgan Stanley Multi-Asset Class Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Muni Money Market Trust Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Tax Free Daily Income Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Money Market Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Fund 10/7/05 Morgan Stanley Total Market I… Fd 497 10/7/05 1:53K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Biotechnology Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Quality Income Trust Morgan Stanley S&P 500 Index Fund Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Total Return Trust Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 9/23/05 Morgan Stanley Small Mid Spec… Fd 497 9/23/05 1:68K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 9/23/05 Morgan Stanley Biotechnology Fund 497 9/23/05 1:71K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Ltd. Duration Fund Morgan Stanley Ltd. Duration US Treasury Trust Morgan Stanley Ltd. Term Municipal Trust Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 9/21/05 Morgan Stanley Small Mid Spec… Fd 497 9/21/05 1:78K Capital Systems 01/FA Active Assets California Tax Free Trust Active Assets Government Securities Trust Active Assets Institutional Government Securities Trust Active Assets Institutional Money Trust Active Assets Money Trust Active Assets Tax Free Trust Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley Calif Tax Free Daily Income Trust Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Liquid Asset Fund Inc. Morgan Stanley Ltd. Duration Fund Morgan Stanley Ltd. Duration US Treasury Trust Morgan Stanley Ltd. Term Municipal Trust Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Muni Money Market Trust Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Prime Income Trust Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Tax Free Daily Income Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Money Market Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 7/7/05 Morgan Stanley Inv Advisors Inc. 40-6C 7/15/05 1:86K SEC #7 Active Assets California Tax Free Trust Active Assets Government Securities Trust Active Assets Institutional Government Securities Trust Active Assets Institutional Money Trust Active Assets Money Trust Active Assets Tax Free Trust Latin American Discovery Fund Inc. Malaysia Fund Inc. Morgan Stanley & Co. Inc./NY Morgan Stanley Aggressive Equity Fund Morgan Stanley Aip GP LP Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley Calif Tax Free Daily Income Trust Morgan Stanley California Insured Municipal Inco Morgan Stanley California Quality Municipal Secu Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Convertible Securities Trust Morgan Stanley Dean Witter Asia Pacific Fund Inc. Morgan Stanley Dean Witter Emerging Markets Debt Fund Inc. Morgan Stanley Dean Witter Emerging Markets Fund Inc. Morgan Stanley Dean Witter Global Opportunity Bond Fund Inc. Morgan Stanley Dean Witter High Yield Fund Inc. Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley Eastern Europe Fund Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Advantage Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Government Income Trust Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Income Securities Inc. Morgan Stanley Information Fund Morgan Stanley Institutional Fund Inc. Morgan Stanley Institutional Fund of Hedge Funds LP Morgan Stanley Institutional Liquidity Funds Morgan Stanley Insured California Municipal Securities Morgan Stanley Insured Municipal Bond Trust Morgan Stanley Insured Municipal Income Trust Morgan Stanley Insured Municipal Securities Morgan Stanley Insured Municipal Trust Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Investment Management Inc. Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Liquid Asset Fund Inc. Morgan Stanley Ltd. Duration Fund Morgan Stanley Ltd. Duration US Treasury Trust Morgan Stanley Ltd. Term Municipal Trust Morgan Stanley Mid Cap Value Fund Morgan Stanley Municipal Income Opportunities Trust Morgan Stanley Municipal Income Opportunities Trust II Morgan Stanley Municipal Income Opportunities Trust III Morgan Stanley Municipal Premium Income Trust Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Muni Money Market Trust Morgan Stanley New York Quality Municipal Securi Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Prime Income Trust Morgan Stanley Quality Income Trust Morgan Stanley Quality Municipal Income Trust Morgan Stanley Quality Municipal Investment Trus Morgan Stanley Quality Municipal Securities Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Select Dimensions Investment Series Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Tax Free Daily Income Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Income Securities Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Money Market Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund Morgan Stanley Variable Investment Series Thai Fund Inc. Turkish Investment Fund Inc. Universal Institutional Funds Inc. Van Kampen Asset Management Inc. Van Kampen Equity Trust Van Kampen Equity Trust II Van Kampen Life Investment Trust Van Kampen Series Fund, Inc. Van Kampen Tax Exempt Trust Van Kampen Tax Free Trust Van Kampen US Government Trust 7/15/05‡ Morgan Stanley U.S. Gov’t Secs Tr 497 7/15/05 1:68K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 5/31/05 Morgan Stanley Small Mid Spec… Fd 497 5/31/05 1:110K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Ltd. Duration Fund Morgan Stanley Ltd. Duration US Treasury Trust Morgan Stanley Ltd. Term Municipal Trust Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 5/31/05 Morgan Stanley Total Market I… Fd 497 5/31/05 1:75K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 5/19/05 Morgan Stanley Real Estate Fund 497 5/19/05 1:55K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley Calif Tax Free Daily Income Trust Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Liquid Asset Fund Inc. Morgan Stanley Ltd. Duration Fund Morgan Stanley Ltd. Duration US Treasury Trust Morgan Stanley Ltd. Term Municipal Trust Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Muni Money Market Trust Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley S&P 500 Index Fund Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Tax Free Daily Income Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Money Market Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 2/7/05 Morgan Stanley Small Mid Spec… Fd 497 2/7/05 1:46K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 1/11/05 Morgan Stanley Small Mid Spec… Fd 497 1/11/05 1:46K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 1/5/05 Morgan Stanley Small Mid Spec… Fd 497 1/5/05 1:30K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley Biotechnology Fund Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley Financial Services Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley S&P 500 Index Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 12/29/04 Morgan Stanley Small Mid Spec… Fd 497 12/29/04 1:46K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 12/29/04 Morgan Stanley Small Mid Spec… Fd 497 12/29/04 1:46K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Balanced Growth Fund Morgan Stanley Balanced Income Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 4/1/04 Morgan Stanley S&P 500 Index Fund 497 4/1/04 1:43K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Biotechnology Fund Morgan Stanley California Tax-Free Income Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Federal Securities Trust Morgan Stanley Financial Services Trust Morgan Stanley Flexible Income Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley High Yield Securities Inc. Morgan Stanley Income Builder Fund Morgan Stanley Information Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley New York Tax-Free Income Fund Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Quality Income Trust Morgan Stanley Real Estate Fund Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Tax Exempt Securities Trust Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley US Government Securities Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund 3/31/04 Morgan Stanley Technology Fund 497 3/31/04 1:35K Capital Systems 01/FA Morgan Stanley Aggressive Equity Fund Morgan Stanley Allocator Fund Morgan Stanley American Opportunities Fund Morgan Stanley Biotechnology Fund Morgan Stanley Capital Opportunities Trust Morgan Stanley Competitive Edge Fund Morgan Stanley Convertible Securities Trust Morgan Stanley Developing Growth Securities Trust Morgan Stanley Dividend Growth Securities Inc. Morgan Stanley European Growth Fund Inc. Morgan Stanley Financial Services Trust Morgan Stanley Fund of Funds Morgan Stanley Fundamental Value Fund Morgan Stanley Global Dividend Growth Securities Morgan Stanley Global Utilities Fund Morgan Stanley Growth Fund Morgan Stanley Health Sciences Trust Morgan Stanley Income Builder Fund Morgan Stanley International Fund Morgan Stanley International Smallcap Fund Morgan Stanley International Value Equity Fund Morgan Stanley Japan Fund Morgan Stanley KLD Social Index Fund Morgan Stanley Mid Cap Value Fund Morgan Stanley Nasdaq - 100 Index Fund Morgan Stanley Natural Resource Development SEC Morgan Stanley Pacific Growth Fund Inc. Morgan Stanley Real Estate Fund Morgan Stanley S&P 500 Index Fund Morgan Stanley Small Mid Special Value Fund Morgan Stanley Special Growth Fund Morgan Stanley Special Value Fund Morgan Stanley Strategist Fund Morgan Stanley Total Market Index Fund Morgan Stanley Total Return Trust Morgan Stanley Utilities Fund Morgan Stanley Value Added Market Series Morgan Stanley Value Fund
