Murray, Frank & Sailer LLP Announces Class Action Against UBS-AG on Behalf of Purchasers of the Van Kampen Family of Funds -- ACSWX, ACEFX, ACEQX, ACGJX, ACTGX


NEW YORK, Sept. 9, 2005 (PRIMEZONE) -- The law firm of Murray, Frank & Sailer LLP announces that it has filed a class action lawsuit on behalf of all persons who purchased Van Kampen Funds from UBS-AG ("UBS"), from May 1, 2000 through April 30, 2005, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Act of 1993 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act").

The Funds, and the Symbols for the respective Van Kampen Funds named below, are as follows:



 VAGAX        Van Kampen Aggressive Growth A
 VAGBX        Van Kampen Aggressive Growth B
 VAGCX        Van Kampen Aggressive Growth C
 VAGDX        Van Kampen Aggressive Growth I
 MSAIX        Van Kampen America Value Fund Class I
 VAFAX        Van Kampen American Franchise Fund Class A
 VAFBX        Van Kampen American Franchise Fund Class B
 VAFCX        Van Kampen American Franchise Fund Class C
 VAFIX        Van Kampen American Franchise Fund Class I
 MSAVX        Van Kampen American Value A
 MGAVX        Van Kampen American Value B
 MSVCX        Van Kampen American Value C
 VKCIX        Van Kampen CA Insured Tax-Free A
 VCIBX        Van Kampen CA Insured Tax-Free B
 VCICX        Van Kampen CA Insured Tax-Free C
 VCIIX        Van Kampen California Insured Tax Free Fund Class I
 ACSTX        Van Kampen Comstock A
 ACSWX        Van Kampen Comstock B
 ACSYX        Van Kampen Comstock C
 ACSDX        Van Kampen Comstock I
 ACSRX        Van Kampen Comstock R
 ACCBX        Van Kampen Corporate Bond A
 ACCDX        Van Kampen Corporate Bond B
 ACCEX        Van Kampen Corporate Bond C
 ACCHX        Van Kampen Corporate Bond Fund Class I
 ACEGX        Van Kampen Emerging Growth A
 ACEMX        Van Kampen Emerging Growth B
 ACEFX        Van Kampen Emerging Growth C
 ACEDX        Van Kampen Emerging Growth I
 ACEEX        Van Kampen Emerging Growth R
 MSRAX        Van Kampen Emerging Markets A
 MSRBX        Van Kampen Emerging Markets B
 MSRCX        Van Kampen Emerging Markets C
 MSRIX        Van Kampen Emerging Markets Fund Class I
 ACENX        Van Kampen Enterprise A
 ACEOX        Van Kampen Enterprise B
 ACEPX        Van Kampen Enterprise C
 ACEUX        Van Kampen Enterprise Fund Class I
 ACEIX        Van Kampen Equity and Income A
 ACEQX        Van Kampen Equity and Income B
 ACERX        Van Kampen Equity and Income C
 ACETX        Van Kampen Equity and Income I
 ACESX        Van Kampen Equity and Income R
 VEGAX        Van Kampen Equity Growth A
 VEGBX        Van Kampen Equity Growth B
 VEGCX        Van Kampen Equity Growth C
 VEGIX        Van Kampen Equity Growth Fund Class I
 ACEHX        Van Kampen Exchange
 MIMCX        VAN KAMPEN FUND INTERNATIONAL M
 MSGAX        Van Kampen Global Equity Alloc A
 MSGBX        Van Kampen Global Equity Alloc B
 MSGCX        Van Kampen Global Equity Alloc C
 MSGDX        Van Kampen Global Equity Allocation Fund Class I
 VGFAX        Van Kampen Global Franchise A
 VGFBX        Van Kampen Global Franchise B
 VGFCX        Van Kampen Global Franchise C
 VGFIX        Van Kampen Global Franchise Fund Class I
 MGEAX        Van Kampen Global Value Equity A
 MGEBX        Van Kampen Global Value Equity B
 MGECX        Van Kampen Global Value Equity C
 MGEDX        Van Kampen Global Value Equity Fund Class I
 ACGVX        Van Kampen Government Securities A
 ACGTX        Van Kampen Government Securities B
 ACGSX        Van Kampen Government Securities C
 ACGUX        Van Kampen Government Securities Fund Class I
 ACGIX        Van Kampen Growth and Income A
 ACGJX        Van Kampen Growth and Income B
 ACGKX        Van Kampen Growth and Income C
 ACGMX        Van Kampen Growth and Income I
 ACGLX        Van Kampen Growth and Income R
 ACHBX        Van Kampen Harbor A
 ACHAX        Van Kampen Harbor B
 ACHCX        Van Kampen Harbor C
 ACHIX        Van Kampen Harbor I
 ACHYX        Van Kampen High Yield A
 ACHZX        Van Kampen High Yield B
 ACHWX        Van Kampen High Yield C
 VKHYX        VAN KAMPEN HIGH YIELD FD A
 VHYBX        VAN KAMPEN HIGH YIELD FUND CL B
 VHYCX        VAN KAMPEN HIGH YIELD FUND CL C
 ACHVX        Van Kampen High Yield I
 ACTDX        Van Kampen High Yield Municipal Fund Class I
 ACTHX        Van Kampen High-Yield Municipal A
 ACTGX        Van Kampen High-Yield Municipal B
 ACTFX        Van Kampen High-Yield Municipal C
 VMTIX        Van Kampen Insured Tax Free Fund Class I
 VKMTX        Van Kampen Insured Tax-Free Inc A
 VMTBX        Van Kampen Insured Tax-Free Inc B
 VMTCX        Van Kampen Insured Tax-Free Inc C
 VKLMX        Van Kampen Interm-Term Muni A
 VKLBX        Van Kampen Interm-Term Muni B
 VKLCX        Van Kampen Interm-Term Muni C
 VKLIX        Van Kampen Intermediate Term Municipal Income
              Fund Class I
 VKIAX        Van Kampen International Advantage A
 VKIBX        Van Kampen International Advantage B
 VKICX        Van Kampen International Advantage C
 VKIIX        Van Kampen International Advantage Fund Class I
 MIMAX        VAN KAMPEN INTERNATIONAL MAGNUM
 MSNBX        VAN KAMPEN INTERNATIONAL MAGNUM
 ACFMX        Van Kampen Limited Duration A
 ACFTX        Van Kampen Limited Duration B
 ACFWX        Van Kampen Limited Duration C
 ACFYX        Van Kampen Limited Duration Fund Class I
 VGRAX        Van Kampen Mid Cap Growth A
 VGRBX        Van Kampen Mid Cap Growth B
 VGRCX        Van Kampen Mid Cap Growth C
 VGRDX        Van Kampen Mid Cap Growth Fund Class I
 VKMMX        Van Kampen Municipal Income A
 VMIBX        Van Kampen Municipal Income B
 VMICX        Van Kampen Municipal Income C
 VMIIX        Van Kampen Municipal Income Fund Class I
 VNYDX        Van Kampen New York Tax Free Income Fund Class I
 VNYAX        Van Kampen NY Tax-Free Income A
 VBNYX        Van Kampen NY Tax-Free Income B
 VNYCX        Van Kampen NY Tax-Free Income C
 VKMPX        Van Kampen PA Tax-Free Income A
 VKPAX        Van Kampen PA Tax-Free Income B
 VKPCX        Van Kampen PA Tax-Free Income C
 ACPAX        Van Kampen Pace A
 ACPBX        Van Kampen Pace B
 ACPCX        Van Kampen Pace C
 ACPDX        Van Kampen Pace Fund Class I
 VKPIX        Van Kampen Pennsylvania Tax Free Income Fd Class I
 ACREX        Van Kampen Real Estate Secs A
 ACRBX        Van Kampen Real Estate Secs B
 ACRCX        Van Kampen Real Estate Secs C
 ACRDX        Van Kampen Real Estate Securities Fund Class I
 VSGAX        Van Kampen Select Growth A
 VBSGX        Van Kampen Select Growth B
 VSGCX        Van Kampen Select Growth C
 VBSIX        Van Kampen Select Growth Fund Class I
 VSLAX        Van Kampen Senior Loan Fund Class A
 VSLBX        Van Kampen Senior Loan Fund Class B
 VSLCX        Van Kampen Senior Loan Fund Class C
 XPRTX        Van Kampen Senior Loan IB
 XSLCX        Van Kampen Senior Loan IC
 VASCX        Van Kampen Small Cap Growth A
 VBSCX        Van Kampen Small Cap Growth B
 VCSCX        Van Kampen Small Cap Growth C
 VISCX        Van Kampen Small Cap Growth Fund Class I
 VSCAX        Van Kampen Small Cap Value A
 VSMBX        Van Kampen Small Cap Value B
 VSMCX        Van Kampen Small Cap Value C
 VSMIX        Van Kampen Small Cap Value Class I
 VKMHX        Van Kampen Strategic Municipal Inc A
 VKTFX        Van Kampen Strategic Municipal Inc B
 VMHCX        Van Kampen Strategic Municipal Inc C
 VMHIX        Van Kampen Strategic Municipal Income Fd Class I
 VTFAX        Van Kampen Technology A
 VTFBX        Van Kampen Technology B
 VTFCX        Van Kampen Technology C
 VTFIX        Van Kampen Technology Fund Class I
 VKMGX        Van Kampen U.S. Mortgage A
 VUSBX        Van Kampen U.S. Mortgage B
 VUSCX        Van Kampen U.S. Mortgage C
 VUSIX        Van Kampen U.S. Mortgage Fund Class I
 VKUAX        Van Kampen Utility A
 VKUBX        Van Kampen Utility B
 VKUCX        Van Kampen Utility C
 VKUIX        Van Kampen Utility Fund Class I
 VVOAX        Van Kampen Value Opportunities A
 VVOBX        Van Kampen Value Opportunities B
 VVOCX        Van Kampen Value Opportunities C
 VVOIX        Van Kampen Value Opportunities I

The complaint alleges that during the Class Period, defendants served as financial advisors who purportedly provided unbiased and honest investment advice to their clients. Unbeknownst to investors, defendants, in clear contravention of their disclosure obligations and fiduciary responsibilities, failed to properly disclose that they had engaged in a scheme to aggressively push UBS sales personnel to steer clients into purchasing certain UBS Funds and UBS Tier I Funds, which included Van Kampen Funds, that provided financial incentives and rewards to UBS and its personnel based on sales. The complaint alleges that defendants' undisclosed sales practices created an insurmountable conflict of interest by providing substantial monetary incentives to sell Shelf-Space Funds to their clients, even though such investments were not in the clients' best interest. UBS' failure to disclose the incentives constituted violations of federal securities laws.

The action also includes a subclass of persons who held any shares of UBS Mutual Funds. The complaint additionally alleges that the investment advisor subsidiary of UBS, UBS Global Asset Management created further undisclosed material conflicts of interest by entering into revenue sharing agreements with UBS financial Advisors to push investors into UBS proprietary funds, regardless of whether such investments were in the investors' best interests. The investment advisors financed these arrangements by illegally charging excessive and improper fees to the fund that should have been invested in the underlying portfolio. In doing so they breached their fiduciary duties to investors under the Investment Company Act and state law and decreased shareholders' investment returns.

The action includes a second subclass of persons who purchased a UBS Financial Plan that held Tier I mutual funds. The UBS Financial Plans include, but are not limited to UBS Personalized Asset Consulting and Evaluation Plan, InsightOne accounts, and/or a resource management accounts.

Murray, Frank & Sailer LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than fifteen years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States.

If you purchased any of the Van Kampen Funds through a UBS broker between May 1, 2000 through April 30, 2005, inclusive, and sustained damages, you may, no later than September 30, 2005, request that the Court appoint you as lead plaintiff. To serve as lead plaintiff, however, you must meet certain legal requirements. You can join this class action as lead plaintiff online at www.murrayfrank.com. Contact plaintiff's counsel Eric J. Belfi, Christopher Hinton or Bradley Dyer to discuss this action, this announcement, or your rights or interests.

More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca



            

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