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EXHIBIT (a) (8)
Text of Press Release Dated June 5, 2000
NEWS RELEASE
FOR IMMEDIATE RELEASE
FOR MORE INFORMATION CONTACT:
James J. Boyne or Marcie Vernier
800/225-2222 800/225-2222
Ext. 6327 Ext. 8323
VAN KAMPEN SENIOR FLOATING RATE FUND
COMPLETES TENDER OFFER FOR ITS COMMON SHARES
CHICAGO (June 5, 2000) -- Van Kampen Senior Floating Rate Fund
announced today the final results of its tender offer for up to 54,534,630 of
its outstanding common shares of beneficial interest. The offer expired at
12:00 Midnight, Eastern Standard Time, on May 19, 2000.
The Fund said that 23,335,871 common shares, or approximately 13.81% of
the Fund's common shares outstanding as of the expiration of the tender offer,
were validly tendered through the stated expiration date. All 23,335,871 common
shares tendered were purchased at a price of $9.68 per common share, the net
asset value at the time the offer expired. Payment for the shares purchased was
mailed prior to the date hereof.
As indicated in the Fund's current prospectus, the Board of Trustees of
the Fund currently intends, each quarter, to consider authorizing the Fund to
make a tender offer for its common shares in order to attempt to provide
liquidity to its investors.
The Fund commenced operations on March 27, 1998 and had total net
assets of approximately $1,636,041,263 as of May 19, 2000.
Van Kampen Senior Floating Rate Fund is advised and distributed by
subsidiaries of Van Kampen Investments Inc. ("Van Kampen"), a diversified asset
management company with more than two million retail investor accounts,
extensive capabilities for managing institutional portfolios, and more than $100
billion under management or supervision, as of March 31, 2000. Van Kampen's
more than 50 open-end and 39 closed-end funds and more than 2,700 unit
investment trusts are professionally distributed by leading financial advisers
nationwide. Van Kampen is an indirect wholly owned subsidiary of Morgan Stanley
Dean Witter & Co.
