Certain Morgan Stanley Closed-End Funds Declare Dividends

Each of the Morgan Stanley institutional, closed-end funds listed below (the “Funds”) today declared the following dividends.

For more information call: 1-800-231-2608.

The amount of dividends paid by each fund may vary from time to time. Past amounts of dividends are no guarantee of future dividend payment amounts.

The final determination of the source and tax characteristics of all distributions in 2008 will be made after the end of the year.

Investing involves risk and it is possible to lose money on any investment in the funds.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $570 billion in assets under management or supervision as of August 31, 2008. By leveraging its global ‘community of boutiques’ structure and the strength of Morgan Stanley, MSIM 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.

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