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SUMMARY OF ESSENTIAL INFORMATION
AS OF MARCH 15, 1999
SIZE OF OFFERING
- -------------------------------------------
<TABLE>
<S> <C>
Aggregate Value of Securities...... $242,584.47
Number of Units.................... 25,000
</TABLE>
PRICE
- -------------------------------------------
<TABLE>
<S> <C>
Public Offering Price Per Unit
(including sales charge)..... $9.7978
Minimum Purchase: $1,000
Public Offering Price Per 100
Units (including sales
charge)...................... $979.78
</TABLE>
RECORD DATES
- -------------------------------------------
September 1,1999, March 1, 2000, September 1, 2000
and March 30, 2001
DISTRIBUTION DATES
- -------------------------------------------
September 15, 1999, March 15, 2000, September 15,
2000 and on or about April 6, 2001
TERMINATION DATE
- ------------------------------------------------
March 30, 2001
SALES CHARGE
- ------------------------------------------------
Investors pay an up-front sales charge of 1%, and a deferred sales charge of
1.75% during each year of the Trust's two-year life. The additional second year
deferred sales charge will be charged to a unit holder holding units on May 31,
2000. If you sell your units before the final deferred sales charge payment in
either the first or second year, the remaining balance of your deferred sales
charge for that year will be deducted, along with the estimated costs of selling
the Trust's securities. If you rollover into a successor Trust, if available,
the initial sales charge will be waived, and you will only pay the deferred
sales charge.
- ------------------------------------------------
SPONSOR TRUSTEE
Dean Witter Reynolds Inc. The Bank of New York
2 World Trade Center 101 Barclay Street
New York, New York 10048 New York, New York 10286
- --------------------------
MORGAN STANLEY DEAN WITTER IS A SERVICE MARK OF MORGAN STANLEY DEAN WITTER &
CO.
<PAGE>
AN OPPORTUNITY TO INVEST IN THE POTENTIAL OF THE FINANCIAL SERVICES INDUSTRY
The Morgan Stanley Dean Witter Financial Services Portfolio Series 99-1 is a two
year unit investment trust created to provide investors with a convenient way to
participate in the dynamic prospects for the financial services sector of the
economy. Through a unique blend of selection criteria, this "basket of stocks"
combines the long-term earnings history, above-average financial strength and
investment potential of certain financial services companies.
STOCK SELECTION
The Sponsor selects the common stocks issued by financial services companies for
inclusion in the Portfolio based on a selection method developed by Standard &
Poor's, Portfolio Consultant to the Trust. Standard & Poor's is a leading
financial information and investment research organization which provides
financial research, benchmarks and market data. Standard & Poor's has identified
the securities eligible for inclusion in the Portfolio from the universe of
financial services companies that it covers. This selection is based on certain
criteria utilizing several of its proprietary ratings and ranking systems.
LIQUIDITY
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.
REINVESTMENT OPTION
You may elect to reinvest distributions into additional units of the Trust. Upon
maturity, you may either: (1) rollover your position into a subsequent Financial
Services Portfolio unit trust or other UIT concept trust, if available; (2)
receive cash; or (3) receive distribution of underlying shares "in-kind."
DIVERSIFICATION WITHIN THE FINANCIAL SERVICES INDUSTRY
The Morgan Stanley Dean Witter Financial Services Portfolio is diversified among
the common stock of 32 companies spread among 12 subsectors within the financial
services industry.
RISK FACTORS AND OTHER CONSIDERATIONS
An investment in Units of the Trust should be made with an understanding of the
following risks: The Trust is an unmanaged, fixed portfolio of common stock of
companies concentrated exclusively in the financial services industry. The
performance of an investment in the Trust will be affected by general market and
economic conditions as well as other risk factors particular to the financial
services industry such as interest rates, government regulation, the
availability and cost of capital funds, and credit losses.
The value of the Trust's underlying equity securities, and, therefore, the
units, will fluctuate and may be worth more or less than their original cost
when sold. Unless held in a tax-deferred account, there may be current tax
consequences associated with investing in units.
<PAGE>
SCHEDULE OF PORTFOLIO SECURITIES
MORGAN STANLEY DEAN WITTER SELECT EQUITY TRUST FINANCIAL SERVICES PORTFOLIO 99-1
ON DATE OF DEPOSIT, MARCH 15, 1999
<TABLE>
<CAPTION>
PROPORTIONATE PERCENTAGE OF
RELATIONSHIP AGGREGATE PRICE PER
PORTFOLIO NUMBER OF BETWEEN NO. OF MARKET VALUE SHARE TO
NO. NAME OF ISSUER SHARES SHARES OF TRUST TRUST
- ----------- ---------------------------------- ----------- -------------- -------------- -------------
<C> <S> <C> <C> <C> <C>
1. American Express Company 60 1.42% 3.11% $ 125.7500
2. American General Corporation 100 2.36 3.14 76.0625
3. American International Group, Inc. 62 1.46 3.13 122.6250
4. AmSouth Bancorporation 154 3.64 3.13 49.3750
5. Bank of New York Company, Inc. 194 4.58 3.13 39.1250
6. Bank One Corporation 133 3.14 3.13 57.0625
7. BankAmerica Corporation 103 2.43 3.13 73.8125
8. BB&T Corporation 187 4.42 3.09 40.0625
9. Berkshire Hathaway Inc. - Class B 3 0.07 3.08 2,490.000
10. Chase Manhattan Corporation 88 2.08 3.17 87.2500
11. Cigna Corporation 94 2.22 3.16 81.4375
12. Citigroup Inc. 114 2.69 3.10 65.9375
13. Federal National Mortgage 106 2.50 3.14 71.8750
Association
14. First Data Corporation 173 4.09 3.11 43.5625
15. First Tennessee National 188 4.44 3.15 40.6250
Corporation
16. First Union Corporation 146 3.45 3.13 52.0000
17. Fleet Financial Group, Inc. 182 4.30 3.17 42.1875
18. Franklin Resources, Inc. 242 5.71 3.07 30.8125
19. Golden West Financial Corporation 73 1.72 3.10 103.0625
20. Household International, Inc. 169 3.99 3.15 45.1875
21. Lincoln National Corporation 77 1.82 3.11 98.0000
22. Marshall & Ilsley Corporation 129 3.05 3.09 58.1250
23. MBIA Inc. 123 2.90 3.14 61.9375
24. Mellon Bank Corporation 104 2.46 3.15 73.3750
25. Merrill Lynch & Co., Inc. 83 1.96 3.14 91.6875
26. Old Kent Financial Corporation 166 3.92 3.11 45.3750
27. SouthTrust Corporation 188 4.44 3.14 40.5000
28. State Street Corporation 86 2.03 3.12 88.0000
29. SunTrust Banks, Inc. 109 2.57 3.13 69.6875
30. U.S. Bancorp 213 5.03 3.13 35.6250
31. UnionBanCal Corp. 230 5.43 3.12 32.9375
32. UNUM Corporation 156 3.68 3.12 48.5625
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4,235
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[logo]
FINANCIAL SERVICES
PORTFOLIO 99-1
(A UNIT INVESTMENT TRUST)
- -CAPITAL APPRECIATION POTENTIAL
- - DIVERSIFICATION
- - PROFESSIONAL SELECTION
- -REINVESTMENT OPTION
- - LIQUIDITY
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK, AND THE UNITS ARE NOT 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.
MORGAN STANLEY DEAN WITTER
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