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SIGNATURE BARRY FINK
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW MID-CAP DIVIDEND GROWTH SECURITIES
CLASS A
</LEGEND>
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW MID-CAP DIVIDEND GROWTH SECURITIES
CLASS B
</LEGEND>
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW MID-CAP DIVIDEND GROWTH SECURITIES
CLASS C
</LEGEND>
<S> <C>
<PERIOD-TYPE> 12-MOS
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW MID-CAP DIVIDEND GROWTH SECURITIES
CLASS D
</LEGEND>
<S> <C>
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<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 167,040,156
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<TOTAL-ASSETS> 148,472,387
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<TOTAL-LIABILITIES> (879,476)
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</TABLE>
To the Shareholders and Board of Directors of
XYZ Fund
(2) Report of
Independent Accountants
To the Shareholders and Trustees of
Morgan Stanley Dean Witter Mid-Cap Dividend Growth
Securities
In planning and performing our audit of the financial
statements of Morgan Stanley Dean Witter Mid-Cap Dividend
Growth Securities (the "Fund") for the year ended February
29, 2000, we considered its internal control,
including control activities for safeguarding
securities, in order to determine our auditing
procedures for the purpose of expressing our
opinion on the financial statements and to
comply with the requirements of Form N-SAR, not
to provide assurance on internal control.
The management of the Fund is responsible for
establishing and maintaining internal control.
In fulfilling this responsibility, estimates and
judgments by management are required to assess
the expected benefits and related costs of
controls. Generally, controls that are relevant
to an audit pertain to the entity's objective of
preparing financial statements for external
purposes that are fairly presented in conformity
with generally accepted accounting principles.
Those controls include the safeguarding of
assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal
control, errors or fraud may occur and not be
detected. Also, projection of any evaluation of
internal control to future periods is subject to
the risk that controls may become inadequate
because of changes in conditions or that the
effectiveness of their design and operation may
deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in internal
control that might be material weaknesses under
standards established by the American Institute
of Certified Public Accountants. A material
weakness is a condition in which the design or
operation of one or more of the internal control
components does not reduce to a relatively low
level the risk that misstatements caused by
error or fraud in amounts that would be material
in relation to the financial statements being
audited may occur and not be detected within a
timely period by employees in the normal course
of performing their assigned functions.
However, we noted no matters involving internal
control and its operation, including controls
for safeguarding securities, that we consider to
be material weaknesses as defined above as of
February 29, 2000.
This report is intended solely for the
information and use of the Trustees, management
and the Securities and Exchange Commission and
is not intended to be and should not be used by
anyone other than these specified parties.
April 17, 2000
