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MORGAN STANLEY
DEAN WITTER
COMPETITIVE EDGE
"BEST IDEAS"
PORTFOLIO
JANUARY 1998
- - CAPITAL APPRECIATION POTENTIAL
- - GLOBAL DIVERSIFICATION
- - EASY LIQUIDITY
- - ROLLOVER OPTION
- - REINVESTMENT
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK, AND THE UNITS ARE NOT FEDERALLY INSURED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION, FEDERAL RESERVE BOARD OR ANY OTHER AGENCY. INVESTMENT IN
UNITS OF THE TRUST IS SUBJECT TO INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF
THE PRINCIPAL AMOUNT INVESTED.
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2 World Trade Center - New York NY 10048
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Summary of Essential Information
as of January 15, 1998
SIZE OF OFFERING
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Aggregate Value of Securities.... $238,935.16
Number of Units.................. 25,000
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PRICE
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Public Offering Price Per Unit
(including sales charge)..... $9.6369
Minimum Purchase: $1,000
Public Offering Price Per 100
Units (including sales
charge)...................... $963.69
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RECORD DATES
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June 1, 1998, December 1, 1998 and September 30,
1999
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DISTRIBUTION DATES
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June 15, 1998, December 15, 1998 and on or about
October 7, 1999
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TERMINATION DATE
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September 30, 1999
SALES CHARGE
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The one-year sales charge is 2.90% of the Public Offering Price of which $20 per
100 Units is deferred. The one-year deferred sales charge generally is paid from
the proceeds of securities sold each month commencing March 31, 1998 ($2.00 per
100 Units per month for 10 months). The additional six-month deferred sales
charge of $10 per 100 units applies to any unitholder holding units on March 31,
1999. In such case, the total sales charge would be 3.9% (assuming a $10 per
unit offering price). Volume discounts begin on orders of $25,000 or more.
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TRUSTEE SPONSOR
The Bank of New York Dean Witter Reynolds
101 Barclay Street Inc.
New York, NY 10286 2 World Trade Center
New York, NY 10048
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INVEST IN THE 40 "BEST IDEAS" STOCKS IN TODAY'S GLOBAL
MARKET PLACE FOR AS LITTLE AS $1,000 ($250 FOR IRAS)
YOUR EDGE FOR GLOBAL INVESTING
The Morgan Stanley Dean Witter Competitive Edge "Best Ideas" Portfolio brings
together the research, the expertise and the diversification needed to invest in
today's global market place. This unit investment trust features a Portfolio of
professionally selected stocks, representing Morgan Stanley Dean Witter (MSDW)
Global Equity Research group's January, 1998 Competitive Edge "Best Ideas" list.
With the purchase of the Competitive Edge unit trust, the investor has access to
a portfolio that encompasses a world-class collection of companies--each of
which is considered by MSDW to be a global leader within its industry.
FULLY LIQUID INVESTMENT
All or a portion of your units may be sold at any time. The price received will
be based upon the then current market value of the securities in the portfolio
(including deductions for any remaining deferred sales charge), which may be
more or less than the original price paid.
AUTOMATIC DIVIDEND REINVESTMENT
Investors may elect to have distributions automatically reinvested in additional
units of the portfolio, subject to any remaining deferred sales charge.
GLOBAL DIVERSIFICATION
The Competitive Edge "Best Ideas" Trust helps reduce risk by investing in a 40
stock portfolio. Although there are certain risks associated with investment in
common stocks--including price volatility resulting from factors affecting the
common stock of the issuer of a security in particular and the equity markets in
general--the Trust helps reduce risk because an investment is divided among 40
stocks from various global industry groups. It would be difficult for the
average investor to achieve a comparable level of diversification, without
making a substantial capital commitment or incurring odd lot charges.
SUITABLE FOR RETIREMENT ACCOUNTS
This Trust may be an attractive investment vehicle for a self-directed IRA or
self-employed retirement plan ("Keogh plan"). As a capital appreciation-oriented
investment it may be a suitable complement to help increase the growth potential
of an investor's overall portfolio.
SHORT-TERM LIFE
Unitholders may choose to hold their units for approximately one year. They may
also choose to hold their units for approximately 18 months for an additional
deferred sales charge of approximately 1.00% (total sales charge of
approximately 3.90%). The portfolio will then either be liquidated or
distributed to unitholders in-kind at their election. Investors may, of course,
sell or redeem their units at any time prior to the Trust's termination.
Although the Trust is an approximately one and one half-year investment, and
many investors may choose to hold units for less time, the strategy is
long-term. Investors should consider reinvesting in successive trusts--for
example, for at least three to five years-- to take advantage of the long-term
strategy.
RISKS
There are risks inherent in an investment in common stocks. The value of the
underlying Securities in the Portfolio may fluctuate in accordance with changes
in the value of common stocks in general. Equity markets have been at
historically high levels and no assurance can be given that these levels will
continue. In addition, the Portfolio will contain securities of non-US issuers,
which may involve risks that are different from those involved in holding
securities of domestic issuers. These include currency risk, the risk of future
political and economic developments, as well as price volatility. Read the
prospectus for more complete risk information.
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FOR A COPY OF THE PROSPECTUS CONTAINING MORE COMPLETE INFORMATION INCLUDING
CHARGES, EXPENSES AND RISKS, CONTACT YOUR ACCOUNT EXECUTIVE. READ THE PROSPECTUS
CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
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SCHEDULE OF PORTFOLIO SECURITIES
MORGAN STANLEY DEAN WITTER COMPETITIVE EDGE "BEST IDEAS" PORTFOLIO JANUARY 1998
ON DATE OF DEPOSIT, JANUARY 15, 1998
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PROPORTIONATE PERCENTAGE
COST OF RELATIONSHIP OF AGGREGATE PRICE PER
PORTFOLIO SECURITIES NUMBER OF BETWEEN NO. MARKET VALUE SHARE TO
NO. NAME OF COMMON STOCK ISSUER TO TRUST SHARES OF SHARES OF TRUST TRUST
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1 AES Corp. $ 6,836.75 164 2.948% 2.86% $ 41.6875
2 Asia Pulp & Paper Co. Ltd. 1,976.38 194 3.487 0.83 10.1875
3 AT&T Corp. 6,695.00 103 1.852 2.80 65.00
4 AXA-UAP 6,720.21 89 1.600 2.81 75.508
5 Bayerische Motorenwerke AG (BMW) 6,386.43 9 0.162 2.67 709.6034
6 The Boeing Co. 6,574.63 149 2.678 2.75 44.125
7 Chevron Corp. 6,693.50 88 1.582 2.80 76.0625
8 Cisco Systems Inc. 6,662.75 116 2.085 2.79 57.4375
9 Citicorp 6,715.31 57 1.025 2.81 117.8125
10 Coca-Cola Enterprises Inc. 6,649.50 186 3.344 2.78 35.75
11 Diageo PLC 6,665.00 723 12.997 2.79 9.2185
12 Dresser Industries Inc. 6,552.00 182 3.272 2.74 36.00
13 E.I. DuPont de Nemours & Co. 6,626.13 122 2.193 2.77 54.3125
14 Emerson Electric Co. 6,662.25 108 1.941 2.79 61.6875
15 Federal Express Corp. 6,674.06 105 1.887 2.79 63.5625
16 General Electric Co. 6,614.56 91 1.636 2.77 72.6875
17 Holderbank Financiere Glaris AG 6,829.04 9 0.162 2.86 758.7822
18 Intel Corp. 6,702.81 89 1.600 2.81 75.3125
19 Eli Lilly and Company 6,725.00 100 1.798 2.81 67.25
20 Lockheed Martin Corp. 6,662.31 67 1.204 2.79 99.4375
21 MAN AG 2,119.51 8 0.144 0.89 264.9405
22 Manpower Inc. 1,998.63 59 1.061 0.84 33.875
23 Mattel Inc. 6,704.38 170 3.056 2.81 39.4375
24 Michelin 6,686.42 138 2.481 2.80 48.4523
25 Microsoft Corp. 6,747.94 51 0.917 2.82 132.3125
26 Novartis AG 6,171.96 4 0.072 2.58 1,542.991
27 Praxair Inc. 6,939.25 164 2.948 2.90 42.3125
28 Proctor & Gamble Co. 6,714.75 84 1.510 2.81 79.9375
29 Quintiles Transnational Corp. 1,995.50 52 0.935 0.84 38.375
30 Sandvik AB 2,102.30 82 1.474 0.88 25.6378
31 Sankyo Co., Ltd. 6,754.83 267 4.800 2.83 25.299
32 SAP AG 6,483.67 22 0.395 2.71 294.7121
33 Schlumberger Ltd. 6,630.50 89 1.600 2.78 74.50
34 Sealed Air Corp. 2,019.06 35 0.629 0.85 57.6875
35 SGS Thomson Microelectronics N.V. 6,821.41 117 2.103 2.85 58.3026
36 Siebe PLC 6,657.94 373 6.705 2.79 17.8497
37 Sony Corp. 6,727.23 75 1.348 2.82 89.6964
38 Time Warner Inc. 6,664.00 112 2.013 2.79 59.50
39 TOTAL S.A. 6,709.29 68 1.222 2.81 98.666
40 Unilever PLC 6,662.97 842 15.136 2.79 7.9133
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$ 238,935.16 5,563
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