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EXHIBIT (a) (8)
Text of Press Release Dated September 1, 2000
NEWS RELEASE
FOR IMMEDIATE RELEASE
FOR MORE INFORMATION CONTACT:
James J. Boyne or Ian J. McPheron
800/225-2222 800/225-2222
Ext. 6327 Ext. 6845
VAN KAMPEN SENIOR FLOATING RATE FUND
COMPLETES TENDER OFFER FOR ITS COMMON SHARES
CHICAGO (September 1, 2000) -- Van Kampen Senior Floating Rate Fund
announced today the final results of its tender offer for up to 49,664,475 of
its outstanding common shares of beneficial interest. The offer expired at
12:00 Midnight, Eastern Standard Time, on August 18, 2000.
The Fund said that 23,855,434 common shares outstanding as of the
expiration of the tender offer, were validly tendered through the stated
expiration date. All 23,855,434 common shares tendered were purchased at a price
of $9.54 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 $1,458,994,352 as of August 18, 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 June 30, 2000. Van Kampen's
more than 50 open-end and 37 closed-end funds and more than 2,700 unit
investment trusts are professionally distributed by leading financial advisers
nationwide.
