<PAGE>
Filed Pursuant to Rule 497(e)
Registration File No.: 333-39579
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION OF
MORGAN STANLEY DEAN WITTER AGGRESSIVE EQUITY FUND
DATED SEPTEMBER 27, 1999
The second paragraph of the section entitled "V. Investment Management and
Other Services -- A. Investment Manager" in the above Statement of Additional
Information is revised to reflect that, effective May 1, 2000, the Trustees of
the Fund have amended the Fund's Investment Management Agreement to reduce the
compensation received by the Investment Manager under the Agreement for assets
exceeding $2 billion, so that the compensation under the Agreement is
calculated daily by applying the following annual rates to the Fund's net
assets determined as of the close of each business day: 0.75% of the portion of
daily net assets not exceeding $2 billion; and 0.725% of the portion of daily
net assets exceeding $2 billion.
May 1, 2000
