VAN KAMPEN
                                                                      FUNDS INC.

NEWS RELEASE

    1 Parkview Plaza o P.O. Box 5555 o Oakbrook Terrace, Illinois 60181-5555
                               o www.vankampen.com
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FOR IMMEDIATE RELEASE

FOR MORE INFORMATION CONTACT:
Chad Peterson
212/762-9612


              VAN KAMPEN INVESTMENT GRADE MUNICIPAL TRUST ANNOUNCES
            ADJOURNMENT OF MEETING FOR PROPOSED REORGANIZATION INTO
                           VAN KAMPEN MUNICIPAL TRUST

         CHICAGO (July 22, 2005) -- The adjourned special meeting of
shareholders of Van Kampen Investment Grade Municipal Trust was held on July 22,
2005 and has been further adjourned to August 12, 2005 at 8:45 a.m. to allow
additional time to solicit the additional votes needed to approve the proposal
as outlined in the Notice of Special Meeting previously mailed to shareholders.

         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 $100 billion in assets under management or
supervision, as of June 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 proxy statement/prospectus relating to the proposed reorganization contains
important information and shareholders are urged to read it. Free copies of the
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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Copyright(C)2005 Van Kampen Funds Inc.  All rights reserved.  Member NASD/SIPC.