<PAGE>
Filed Pursuant to Rule 497(e)
Registration File No.: 333-06935
SUPPLEMEMT TO THE PROSPECTUS OF
MORGAN STANLEY DEAN WITTER SPECIAL VALUE FUND
DATED SEPTEMBER 27, 1999
The second paragraph under the section of the Prospectus entitled "FUND
MANAGEMENT" is hereby replaced by the following:
The Fund's portfolio is managed within the Investment Manager's Growth
Group. Jenny Beth Jones, Senior Vice President of the Investment
Manager, has been the Fund's primary portfolio manager since its
inception in October 1996. Prior to joining the Investment Manager in
August 1996, Ms. Jones was a portfolio manager with Oppenheimer
Capital.
April 27, 2000
