VAN KAMPEN FOCUS PORTFOLIOS SERIES 226, 487, 2000-05-09

VAN KAMPEN FOCUS PORTFOLIOS SERIES 226
487, 2000-05-09

Previous: IMH ASSETS CORP COLLATERALIZED ASSET BACKED BONDS SER 2000 1, 8-K, 2000-05-09

Next: VAN KAMPEN FOCUS PORTFOLIOS SERIES 227, 487, 2000-05-09

MEMORANDUM OF CHANGES
VAN KAMPEN FOCUS PORTFOLIOS, SERIES 226

The Prospectus filed with Amendment No. 1 of the Registration Statement
on Form S-6 has been revised to reflect information regarding the deposit of Van
Kampen Focus Portfolios, Series 226 on May 9, 2000. An effort has been made to
set forth below each of the major changes from the material previously submitted
and also to reflect the same by blacklining the marked counterparts of the
Prospectus submitted with the Amendment.

Cover Page. The date of the Prospectus has been completed.

Pages 2-3. "The Summary of Essential Financial Information" section
and "Fee Table" have been completed.

Pages 4-16. The portfolios have been completed and various information
has been updated.

Pages 17-21. The descriptions of the issuers of the Securities have
been revised.

Pages 22-24. The Report of Independent Certified Public Accountants
and Statements of Condition have been completed.

FILE NO. 333-34772
CIK #1104557

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004

Amendment No. 1
to
Form S-6

For Registration under the Securities Act of 1933 of Securities of Unit
Investment Trusts Registered on Form N-8B-2.

A. Exact Name of Trust: VAN KAMPEN FOCUS PORTFOLIOS, SERIES 226

B. Name of Depositor: VAN KAMPEN FUNDS INC.

C. Complete address of Depositor's principal executive offices:

One Parkview Plaza

D. Name and complete address of agents for service:

CHAPMAN AND CUTLER VAN KAMPEN FUNDS INC.
Attention: Mark J. Kneedy Attention: A. Thomas Smith III, General Counsel
111 West Monroe Street One Parkview Plaza
Chicago, Illinois 60603 Oakbrook Terrace, Illinois 60181

E. Title of securities being registered: Units of undivided beneficial
interest

F. Approximate date of proposed sale to the public:

AS SOON AS PRACTICABLE AFTER THE EFFECTIVE DATE OF THE
REGISTRATION STATEMENT

/ X / Check box if it is proposed that this filing will become effective at 2:00
p.m. on May 9, 2000 pursuant to Rule 487.

Van Kampen
Focus Portfolios(SM)
A Division of Van Kampen Funds Inc.

The DowSM Strategic 10 Trust
May 2000 Series

The DowSM Strategic 5 Trust
May 2000 Series

The Dow 5SM & Tech Strategic Trust
May 2000 Series

NasdaqSM Strategic 10 Trust
May 2000 Series

Strategic Picks Opportunity Trust
May 2000 Series

EAFESM Strategic 20 Trust
May 2000 Series

- --------------------------------------------------------------------------------

Van Kampen Focus Portfolios, Series 226 includes the unit investment trusts
described above (the "Trusts"). Each Trust uses a refined indexing strategy that
seeks to provide above-average total return through an investment in a
diversified portfolio of well-known stocks. Of course, we cannot guarantee that
a Trust will achieve its objective.

May 9, 2000

You should read this prospectus and retain it for future reference.

- --------------------------------------------------------------------------------

The Securities and Exchange Commission has not approved or disapproved of the
Units or passed upon the adequacy or accuracy of this prospectus. Any contrary
representation is a criminal offense.

Summary of Essential Financial Information
May 9, 2000

The DowSM
Strategic
10 and 5 Other
Public Offering Price Trusts Trusts
------------ ------------
<S> <C> <C>
Aggregate value of Securities per Unit (1) $ 9.900 $ 9.900
Sales charge 0.275 0.295
Less deferred sales charge 0.175 0.195
Public offering price per Unit (2) $ 10.000 $ 10.000
</TABLE>

General Information
Initial Date of Deposit May 9, 2000
Mandatory Termination Date July 10, 2001
Record Date February 10, 2001
Distribution Date February 25, 2001
<TABLE>
<CAPTION>

Estimated Estimated Estimated
Initial Aggregate Initial Annual Redemption Organizational
Number of Value of Distribution Dividends Price per Costs per
Trust Information Units (3) Securities (1) per Unit (4) per Unit (4) Unit (5) Unit (1)
------------ -------------- ------------- ------------- ------------- -------------
The DowSM
<S> <C> <C> <C> <C> <C> <C>
Strategic 10 Trust 14,920 $ 147,703 $ .24 $ .32633 $ 9.725 $ .02624
The DowSM
Strategic 5 Trust 14,850 $ 147,010 $ .20 $ .26653 $ 9.725 $ .03241
The Dow 5SM & Tech
Strategic Trust 14,858 $ 147,092 $ .10 $ .13706 $ 9.705 $ .03172
NasdaqSM
Strategic 10 Trust 14,857 $ 147,079 N/A N/A $ 9.705 $ .01035
Strategic Picks
Opportunity Trust 15,089 $ 149,380 $ .19 $ .25041 $ 9.705 $ .03056
EAFESM Strategic 20 Trust 24,814 $ 245,657 $ .19 $ .30054 $ 9.705 $ .00055
</TABLE>

- --------------------------------------------------------------------------------

(1) Each Security is valued at the most recent closing sale price as of the
close of the New York Stock Exchange on the business day before the Initial
Date of Deposit. You will bear all or a portion of the expenses incurred in
organizing and offering your Trust. The public offering price includes the
estimated amount of these costs. The Trustee will deduct these expenses
from your Trust at the end of the initial offering period (approximately
two months). The estimated amount is described above and is included in the
"Estimated Costs Over Time" on the next page.

(2) The public offering price will include any accumulated dividends or cash in
the Income or Capital Accounts of a Trust.

(3) The number of Units may be adjusted so that the public offering price per
Unit equals $10 at the close of the New York Stock Exchange on the Initial
Date of Deposit. The number of Units and fractional interest of each Unit
in a Trust will increase or decrease to the extent of any adjustment.

(4) This estimate is based on the most recently declared quarterly dividends or
interim and final dividends accounting for any foreign withholding taxes.
Actual dividends may vary due to a variety of factors. See "Risk Factors".

(5) The redemption price is reduced by any remaining deferred sales charge. See
"Rights of Unitholders--Redemption of Units". The redemption price includes
the estimated organizational and offering costs. The redemption price will
not include these costs after the initial offering period.

Fee Table

The DowSM
Strategic
10 and 5 Other
Transaction Fees (as % of offering price) Trusts Trusts
---------- ------
<S> <C> <C>
Initial sales charge (1) 1.00% 1.00%
Deferred sales charge (2) 1.75% 1.95%
------ ------
Maximum sales charge 2.75% 2.95%
====== ======
Maximum sales charge on reinvested dividends 0.00% 0.00%
====== ======
</TABLE>

Trustee's Supervisory Estimated
Fee and and Annual
Operating Evaluation Expenses
Estimated Annual Expenses per Unit Expenses Fees per Unit
-------------- ------------- ------------
<S> <C> <C> <C>
The DowSM Strategic 10 Trust $ 0.01143 $ 0.00500 $ 0.01643
The DowSM Strategic 5 Trust $ 0.01259 $ 0.00500 $ 0.01759
The Dow 5SM & Tech Strategic Trust $ 0.01329 $ 0.00500 $ 0.01829
NasdaqSM Strategic 10 Trust $ 0.02150 $ 0.00500 $ 0.02650
Strategic Picks Opportunity Trust $ 0.01444 $ 0.00500 $ 0.01944
EAFESM Strategic 20 Trust $ 0.06445 $ 0.00500 $ 0.06945

</TABLE>
<TABLE>
<CAPTION>

Estimated Costs Over Time (3) One Year Three Years Five Years Ten Years
-------------- ------------- ------------- --------------
<S> <C> <C>
The DowSM Strategic 10 Trust $ 32 $ 77 N/A N/A
The DowSM Strategic 5 Trust $ 33 $ 79 N/A N/A
The Dow 5SM & Tech Strategic Trust $ 35 $ 85 N/A N/A
NasdaqSM Strategic 10 Trust $ 33 $ 81 N/A N/A
Strategic Picks Opportunity Trust $ 35 $ 85 N/A N/A
EAFESM Strategic 20 Trust $ 37 $ 91 N/A N/A
</TABLE>

This fee table is intended to assist you in understanding the costs that you
will bear and to present a comparison of fees. The "Estimated Costs Over Time"
example illustrates the expenses you would pay on a $1,000 investment assuming a
5% annual return and redemption at the end of each period. This example assumes
that you roll your investment into a new series of the Trust each year. Of
course, you should not consider this example a representation of actual past or
future expenses or annual rate of return which may differ from those assumed for
this example. The sales charge and expenses are described under "Public
Offering" and "Trust Operating Expenses".

- --------------------------------------------------------------------------------

(1) The initial sales charge is the difference between the maximum sales charge
and the deferred sales charge.

(2) The deferred sales charge is actually equal to $0.195 per Unit ($0.175 per
Unit for The DowSM Strategic 10 and 5 Trusts). This amount will exceed the
percentage above if the public offering price per Unit falls below $10 and
will be less than the percentage above if the public offering price per
Unit exceeds $10. The deferred sales charge accrues daily from August 10,
2000 through January 9, 2001. Your Trust pays a proportionate amount of
these charges on the 10th day of each month beginning in the accrual period
until paid in full.

(3) These examples include the estimated expenses incurred in establishing and
offering your Trust. The amount of these expenses is described on the
preceding page.

The DowSM Strategic 10 Trust

The Trust follows a simple investment strategy: Buy the ten highest
dividend-yielding stocks in the Dow Jones Industrial Average and hold them for
about 14 months. When the Trust terminates, you can elect to follow the strategy
by redeeming your Units and reinvesting the proceeds in a new trust portfolio,
if available.

[INSERT CHART HERE]

The Trust is designed as part of a long-term investment strategy. You may
achieve more consistent overall results by following the strategy over several
years. For more information see "Special Redemption and Rollover".

See "Notes to Portfolios".

Hypothetical Strategy Performance

The table below compares the hypothetical total return of stocks selected
using the Trust's investment strategy (the "Strategy Stocks") with the stocks in
the Dow Jones Industrial Average ("The Dow 30SM"). Total return includes any
dividends paid on the stocks together with any increase or decrease in the value
of the stocks. The table illustrates a hypothetical investment in the Strategy
Stocks at the beginning of each year -- similar to buying Units of the Trust,
redeeming them after one year and reinvesting the proceeds in a new trust
portfolio each year.

These hypothetical returns are not actual past performance of the Trust or
prior series but do reflect the sales charge or expenses you will pay. Of
course, these hypothetical returns are not guarantees of future results and the
value of your Units will fluctuate. You should note that the returns shown below
are annual returns based on a calendar year investment. The performance of the
Trust may differ because the Trust has a 14 month life that is not based on a
calendar year investment cycle. For more information about the total return
calculations, see "Notes to Hypothetical Performance Tables".

Hypothetical Total Return
- ------------------------------------------------------------------------------------------------------------------------------------

Year Strategy Stocks The Dow 30SM Year Strategy Stocks The Dow 30SM
--------------------------------------------------- ---------------------------------------------------
<S> <C> <C> <C> <C> <C>
1973 0.96% (13.16)% 1987 3.96% 6.02%
1974 (2.70) (23.21) 1988 22.78 15.95
1975 54.54 44.48 1989 23.11 31.71
1976 32.95 22.75 1990 (9.54) (0.58)
1977 (3.72) (12.70) 1991 32.89 23.93
1978 (1.86) 2.69 1992 5.88 7.35
1979 10.39 10.52 1993 24.96 16.74
1980 25.26 21.41 1994 2.15 4.95
1981 5.55 (3.40) 1995 34.61 36.49
1982 24.06 25.79 1996 26.08 28.58
1983 36.78 25.65 1997 20.01 24.78
1984 9.85 1.08 1998 8.66 18.13
1985 27.48 32.78 1999 2.04 27.01
1986 33.80 26.92 Thru 3/31/00 (9.20) (4.68)
</TABLE>

See "Notes to Hypothetical Performance Tables".

The DowSM Strategic 5 Trust
The Trust follows a simple investment strategy: Select the ten highest
dividend-yielding stocks in the Dow Jones Industrial Average. Eliminate the
stock with the lowest share price. Of the remaining stocks, buy the five with
the lowest share price and hold them for about 14 months. When the Trust
terminates, you can elect to follow the strategy by redeeming your Units and
reinvesting the proceeds in a new trust portfolio, if available.

[INSERT CHART HERE]

See "Notes to Portfolios".

Hypothetical Strategy Performance

Hypothetical Total Return
- ------------------------------------------------------------------------------------------------------------------------------------

Year Strategy Stocks The Dow 30SM Year Strategy Stocks The Dow 30SM
--------------------------------------------------- ---------------------------------------------------
<S> <C> <C> <C> <C> <C>
1973 15.41% (13.16)% 1987 (4.74)% 6.02%
1974 (1.44) (23.21) 1988 20.66 15.95
1975 62.54 44.48 1989 8.50 31.71
1976 37.29 22.75 1990 (22.70) (0.58)
1977 (6.81) (12.70) 1991 54.03 23.93
1978 (1.23) 2.69 1992 22.97 7.35
1979 17.87 10.52 1993 36.68 16.74
1980 30.34 21.41 1994 1.34 4.95
1981 1.16 (3.40) 1995 40.58 36.49
1982 46.12 25.79 1996 30.07 28.58
1983 41.51 25.65 1997 25.69 24.78
1984 9.61 1.08 1998 13.54 18.13
1985 35.01 32.78 1999 (2.71) 27.01
1986 34.11 26.92 Thru 3/31/00 (18.27) (4.68)
</TABLE>

See "Notes to Hypothetical Performance Tables".

The Dow 5SM & Tech Strategic Trust
The Trust follows a simple investment strategy involving two components. The
first component (the "Dow 5") involves the following strategy: Begin with the
ten highest dividend-yielding stocks in the Dow Jones Industrial Average.
Eliminate the stock with the lowest share price. Of the remaining stocks, buy
the five with the lowest share price. The second component (the "Tech 5")
involves the following strategy: Begin with the stocks of the technology
companies in the Nasdaq-100 Index (as defined by Compustat's Standard & Poor's
Technology Sector Identifier). Rank these companies by market capitalization.
Buy the stocks of the five companies with the largest market capitalization.
When the Trust terminates, you can elect to follow the strategy by redeeming
your Units and reinvesting the proceeds in a new trust portfolio, if available.

[CHART APPEARS HERE

</TABLE>

See "Notes to Portfolio".

Hypothetical Strategy Performance

The table below compares the hypothetical total return of stocks selected
using the Trust's investment strategy (the "Strategy Stocks") with the stocks in
the Dow Jones Industrial Average ("The Dow 30SM") and Standard & Poor's 500
Index ("S&P 500"). Total return includes any dividends paid on the stocks
together with any increase or decrease in the value of the stocks. The table
illustrates a hypothetical investment in the Strategy Stocks -- similar to
buying Units of the Trust, redeeming them after one year and reinvesting the
proceeds in a new trust portfolio.

Hypothetical Total Return
- ------------------------------------------------------------------------------------------------------------------------------------

Strategy
Year Stocks The Dow 30SM S&P 500
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1989 25.74% 31.71% 31.21%
1990 (6.12) (0.58) (3.13)
1991 72.24 23.93 30.00
1992 21.12 7.35 7.43
1993 19.79 16.74 9.92
1994 9.10 4.95 1.28
1995 43.46 36.49 37.11
1996 48.69 28.58 22.68
1997 12.18 24.78 33.10
1998 72.97 18.13 28.58
1999 42.64 27.01 20.89
Thru 3/31/00 6.13 (4.68) 2.27
</TABLE>

See "Notes to Hypothetical Performance Tables".

NasdaqSM Strategic 10 Trust
The Trust follows a simple investment strategy: Begin with all of the stocks
in the Nasdaq-100 Index. Select the top twenty companies in the index as
measured by market capitalization. Rank those companies by annual sales for the
previous twelve months as most recently reported by each company. Buy the stocks
of the ten companies with the highest dollar amount of annual sales and hold
them for about 14 months. When the Trust terminates, you can elect to follow the
strategy by redeeming your Units and reinvesting the proceeds in a new trust
portfolio, if available.

The Nasdaq-100 Index represents 100 of the largest non-financial domestic and
international companies traded on the Nasdaq Stock Market, Inc. based on market
capitalization.

[INSERT CHART HERE]

See "Notes to Portfolios".

Hypothetical Strategy Performance

The table below compares the hypothetical total return of stocks selected
using the Trust's investment strategy (the "Strategy Stocks") with the stocks in
the Nasdaq-100 Index and the Standard & Poor's 500 Index ("S&P 500 Index").
Total return includes any dividends paid on the stocks together with any
increase or decrease in the value of the stocks. The table illustrates a
hypothetical investment in the Strategy Stocks at the beginning of each year --
similar to buying Units of the Trust, redeeming them after one year and
reinvesting the proceeds in a new trust portfolio each year.

Hypothetical Total Return
- ------------------------------------------------------------------------------------------------------------------------------------

Strategy Nasdaq-100 S&P 500
Year Stocks Index Index
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1989 28.38% 26.17% 31.21%
1990 (6.07) (10.41) (3.13)
1991 56.90 64.99 30.00
1992 17.66 8.87 7.43
1993 5.56 11.74 9.92
1994 (4.40) 1.79 1.28
1995 38.59 43.05 37.11
1996 28.28 42.77 22.68
1997 46.15 20.77 33.10
1998 119.72 85.47 28.58
1999 98.37 102.09 20.89
Thru 3/31/00 16.07 18.61 2.27
</TABLE>

See "Notes to Hypothetical Performance Tables".

Strategic Picks Opportunity Trust
The Trust follows a simple investment strategy: Beginning with the Morgan
Stanley Capital International USA Index, remove all stocks of financial and
utility companies and stocks in the Dow Jones Industrial Average. Screen this
pool of stocks to include only those companies with positive one- and three-year
sales and earnings growth and two years of positive dividend growth. Rank the
remaining stocks by annual trading volume and select the top 75%. Buy the ten
highest dividend-yielding stocks and hold them for about 14 months. When the
Trust terminates, you can elect to follow the strategy by redeeming your Units
and reinvesting the proceeds in a new trust portfolio, if available.

The MSCI USA Index represents approximately 370 large United States
companies. The index has existed since January 1, 1970.

[INSERT CHART HERE]

See "Notes to Portfolios".

Hypothetical Strategy Performance

The table below compares the hypothetical total return of stocks selected
using the Trust's investment strategy (the "Strategy Stocks") with the stocks in
the MSCI USA Index. Total return includes any dividends paid on the stocks
together with any increase or decrease in the value of the stocks. The table
illustrates a hypothetical investment in the Strategy Stocks at the beginning of
each year -- similar to buying Units of the Trust, redeeming them after one year
and reinvesting the proceeds in a new trust portfolio each year.

Hypothetical Total Return
- ------------------------------------------------------------------------------------------------------------------------------------

Strategy MSCIUSA Strategy MSCIUSA
Year Stocks Index Year Stocks Index
----------------------------------------------- -------------------------------------------------
<S> <C> <C> <C> <C> <C>
1980 37.10% 27.97% 1991 45.73% 30.17%
1981 2.93 (3.50) 1992 0.11 7.06
1982 37.68 20.13 1993 5.17 9.82
1983 15.50 21.11 1994 7.76 2.05
1984 8.74 5.71 1995 35.95 37.04
1985 43.96 31.04 1996 21.75 23.36
1986 32.71 17.02 1997 26.49 33.35
1987 9.23 4.41 1998 25.08 30.72
1988 13.90 15.34 1999 3.61 20.86
1989 29.72 30.21 Thru 3/31/00 (4.14) 1.52
1990 (1.63) (1.89)
</TABLE>

See "Notes to Hypothetical Performance Tables".

EAFESM Strategic 20 Trust

The Trust follows a simple investment strategy:
Begin with the stocks in the Morgan Stanley Capital International Europe,
Australasia and Far East Index as detailed below, one of the most widely-used
benchmarks for international investing. Screen these stocks to include only
those companies with positive one- and three-year sales and earnings growth and
three years of positive dividend growth. Rank the remaining stocks by market
capitalization and select the top 75%. Buy the twenty highest dividend-yielding
stocks and hold them for about 14 months. When the Trust terminates, you can
elect to follow the strategy by redeeming your Units and reinvesting the
proceeds in a new trust portfolio, if available.

Many consider the MSCI EAFESM Index to be the premier equity benchmark for
global investing. The index represents more than 1,000 stocks in 38 industries
across 20 developed countries. These countries include Australia, Austria,
Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan,
the Netherlands, New Zealand, Norway,

[INSERT CHART HERE]

Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. We
eliminate stocks traded in Singapore from the Trust strategy to help limit
exposure to uncertain political and economic conditions.

Portfolio
- --------------------------------------------------------------------------------------------------------------
Current Cost of
Number Market Value Dividend Securities
of Shares Name of Issuer (1) per Share (2) Yield (3) to Trust (2)
---------- ------------------------------------- --------------- ----------- -------------
<S> <C> <C> <C> <C>
322 Accor SA $ 37.696 1.82% $ 12,138.22
2,267 Australian Gas Light Company, Limited 5.235 4.54 11,867.52
1,365 Autopistas, Concesionaria Espanola SA 9.139 3.68 12,474.43
6,550 Benetton Group SpA 1.860 3.64 12,183.69
3,257 Coles Myer, Limited 3.727 4.06 12,137.98
85 Compagnie de Saint-Gobain 147.371 1.87 12,526.51
115 Compagnie Francaise d'Etudes et
de Construction SA (Technip) 107.832 2.12 12,400.70
11,000 Hong Kong and China Gas Company, Limited 1.123 3.64 12,357.80
995 Iberdrola SA 12.401 3.04 12,338.70
105 Imerys 117.717 2.08 12,360.27
151 Lafarge SA 82.671 1.89 12,483.38
1,058 Lend Lease Corporation, Limited 11.546 3.18 12,215.56
306 Linde AG 40.581 2.25 12,417.74
247 Pernod-Ricard SA 49.423 2.47 12,207.51
998 Railtrack Group Plc 12.415 3.32 12,390.10
385 RWE AG 32.215 2.51 12,402.73
331 Sampo Insurance Company, Limited 37.292 5.00 12,343.64
3,649 Southcorp, Limited 3.232 3.78 11,792.76
607 Svenska Cellulosa AB (SCA) 20.456 3.12 12,416.99
2,958 Telecom Italia Mobile SpA (T.I.M.) 4.125 2.83 12,200.51
- ---------- -------------
36,751 $ 245,656.74
========== =============
</TABLE>

See "Notes to Portfolios".

Hypothetical Strategy Performance

The table below compares the hypothetical total return of stocks selected
using the Trust's investment strategy (the "Strategy Stocks") with the stocks in
the MSCI EAFESM Index. Total return includes any dividends paid on the stocks
together with any increase or decrease in the value of the stocks. The table
illustrates a hypothetical investment in the Strategy Stocks at the beginning of
each year -- similar to buying Units of the Trust, redeeming them after one year
and reinvesting the proceeds in a new trust portfolio each year.

Hypothetical Total Return
- ------------------------------------------------------------------------------------------------------------------------------------
MSCI MSCI
Strategy EAFESM Strategy EAFESM
Year Stocks Index Year Stocks Index
----------------------------------------------- -------------------------------------------------
<S> <C> <C> <C> <C> <C>
1975 95.74% 37.10% 1988 25.60% 28.59%
1976 (12.90) 3.74 1989 5.03 10.80
1977 50.03 19.42 1990 (7.55) (23.20)
1978 6.60 34.30 1991 14.29 12.50
1979 24.30 6.18 1992 2.08 (11.85)
1980 20.61 24.43 1993 60.11 32.94
1981 3.84 (1.03) 1994 0.60 8.06
1982 (3.49) (0.86) 1995 22.05 11.55
1983 42.02 24.61 1996 19.37 6.36
1984 18.36 7.86 1997 22.17 2.06
1985 47.10 56.72 1998 22.07 20.33
1986 32.31 69.94 1999 13.97 25.27
1987 29.74 24.93 Thru 3/31/00 (12.20) (0.13)
</TABLE>

See "Notes to Hypothetical Performance Tables".

Notes to Hypothetical Performance Tables

The stocks for each strategy for each period were identified by applying the
applicable Trust strategy on the first trading day of the period on the
principal trading exchange. It should be noted that the stocks in any table are
not the same stocks from year to year and may not be the same stocks as those
included in any Trust. Total return for each period was calculated by (1)
subtracting the closing sale price of the stocks on the first trading day of the
period from the closing sale price of the stocks on the last trading day of the
period, (2) adding dividends paid during that period and (3) dividing the result
by the closing sale price of the stocks on the first trading day of the period
and reducing this amount by typical Trust expenses and sales charges.
Adjustments were made to reflect events such as stock splits and corporate
spin-offs. Total return does not take into consideration taxes that will be
incurred by Unitholders. With respect to foreign securities, all values are
converted into U.S. dollars using the applicable currency exchange rate.

These tables represent hypothetical past performance of the Trust strategies
(not the Trusts) and are not guarantees or indications of future performance of
any Trust. Unitholders will not necessarily realize as high a total return as
the hypothetical returns in the tables for several reasons including, among
others: the total return figures in the tables do not reflect taxes; the Trusts
are established at different times of the year; a Trust may not be able to
invest equally in the Securities and may not be fully invested at all times; the
Securities are often purchased or sold at prices different from the closing
prices used in buying and selling Units; and currency exchange rates will be
different. In addition, both stock prices (which may appreciate or depreciate)
and dividends (which may be increased, reduced or eliminated) will affect actual
returns. There can be no assurance that any Trust will outperform the related
stock index over its life or future rollover periods, if available. The sources
for the information contained in the tables are Barron's, Bloomberg L.P., Dow
Jones Corporation, Morgan Stanley Capital International, Ibbotson Associates,
Datastream International, Inc., Factset and Extell Financial LTD. The Sponsor
has not independently verified the data obtained from these sources but has no
reason to believe that this data is incorrect in any material respect.

Notes to Portfolios

(1) The Securities are initially represented by "regular way" contracts for the
performance of which an irrevocable letter of credit has been deposited
with the Trustee. Contracts to acquire Securities were entered into on May
8, 2000 and have settlement dates ranging from May 10, 2000 to May 31, 2000
(see "The Trusts").

(2) The market value of each Security is based on the most recent closing sale
price as of the close of the New York Stock Exchange on the business day
before the Initial Date of Deposit. Other information regarding the
Securities, as of the Initial Date of Deposit, is as follows:
<TABLE>
<CAPTION>

Profit
Cost to (Loss) To
Sponsor Sponsor
-------------- -------------
<S> <C> <C>

The DowSM Strategic 10 Trust $ 147,703 $ --
The DowSM Strategic 5 Trust $ 147,010 $ --
The Dow 5SM & Tech Strategic Trust $ 147,121 $ (29)
NasdaqSM Strategic 10 Trust $ 147,108 $ (29)
Strategic Picks Opportunity Trust $ 149,380 $ --
EAFESM Strategic 20 Trust $ 245,756 $ (99)
</TABLE>

"+" indicates that the security is issued by a foreign company and is held
in American Depositary Receipt form.

(3) Current Dividend Yield for each Security is based on the estimated annual
dividends per share and the Security's market value as of the most recent
close of trading on the New York Stock Exchange on the business day before
the Initial Date of Deposit. Estimated annual dividends per share are
calculated by annualizing the most recently declared regular dividends or
by adding the most recent regular interim and final dividends declared and
reflect any foreign withholding taxes.

The Securities. A brief description of each of the issuers of the Securities
is listed below. Please refer to each "Portfolio" for a list of the Securities
included in each Trust.

Abbott Laboratories. Abbott Laboratories discovers, develops, manufactures,
and sells a broad and diversified line of health care products and services. The
company's products include pharmaceuticals, diagnostic products, hospital
products, chemical and agricultural products, and nutritionals. Abbott markets
its products worldwide through affiliates and distributors.

Accor SA. Accor SA operates a network of 2,577 hotels, 3,000 travel agencies
and 1,000 restaurants worldwide. The company also offers catering, railway
services, car rentals and service vouchers for food, gifts, gasoline, school
lunches and mass transit. Major brand names include Ibis hotels, Hotel Sofitel,
Europcar and Lenotre.

Applied Materials, Inc. Applied Materials, Inc. develops, manufactures,
markets, and services semiconductor wafer fabrication equipment and related
spare parts for the worldwide semiconductor industry. The company's customers
include semiconductor wafer manufacturers and semiconductor integrated circuit
manufacturers.

AT&T Corporation. AT&T Corporation offers communication services and
products. The company provides voice, data, and video telecommunications
services to consumers, large and small businesses, and government entities. AT&T
and its subsidiaries furnish regional, domestic, international, and local
telecommunication services. The company also provides cellular telephone and
wireless services, as well as other services.

Australian Gas Light Company, Limited. Australian Gas Light Company, Limited
distributes, transports and sells natural gas and oil throughout Australasia.
The company primarily produces and sells petroleum products, constructs and
operates pipelines and retails/wholesales LPG. The company also owns and
operates an electricity distribution network covering the Melbourne area and
invests in gas industry companies.

Autopistas, Concesionaria Espanola SA. Autopistas, Concesionaria Espanola SA
manages, constructs, operates and maintains motorways in Spain. The company is
the concessionaire for the following five main routes Montgat-Mataro-Palafolls,
Barcelona-la Jonquera, Barcelona-Tarragona, Montmelo-el Papiol and
Zaragoza-Mediterranean. Autopistas C.E.S.A. also holds interest in companies
that operate car-parks and other highways.

Avon Products, Inc. Avon Products, Inc. is a manufacturer and direct seller
of beauty and related products. The company markets its products to consumers
worldwide through independent sales representatives. Avon also manufactures
fashion jewelry and markets a line of apparel, gifts, and collectibles.

Benetton Group SpA. Benetton Group SpA and its subsidiaries produce and
market fashion goods made from woven and cotton fabric. The company markets
casualwear and sportswear and accessories. Benetton markets its products through
some 7000 stores in 120 countries. Brand names include Sisley, Playlife,
Nordica, Prince, Rollerblade and Killer Loop.

Burlington Northern Santa Fe Corporation. Burlington Northern Santa Fe
Corporation, through its Burlington Northern and Santa Fe Railway Company
subsidiary, operates a railroad system in the United States and Canada. The
company transports a wide range of products and commodities, including the of
containers and trailers, coal, grain, chemicals, metals, minerals, forest
products, autos, and consumer goods.

Caterpillar, Inc. Caterpillar, Inc. designs, manufactures, and markets
construction, mining, agricultural, and forestry machinery. The company also
manufactures engines and other related parts for its equipment. Caterpillar
distributes its products through a worldwide organization of dealers.

Cisco Systems, Inc. Cisco Systems, Inc. supplies data networking products to
the corporate enterprise and public wide area service provider markets. The
company offers a variety of products including routers, LAN switches, frame
relay/ATM, and remote access concentrators. Cisco's clients include utilities,
corporations, universities, governments, and small to medium-size businesses
worldwide.

Coles Myer, Limited. Coles Myer, Limited operates retail stores, including
supermarkets, department stores, apparel shops, fast food restaurants, liquor
stores and discount stores. The company's approximate 1,994 stores are located
throughout Australia and New Zealand. The company's stores include Target,
K-Mart, Bi-Lo, Liquorland, Coles, Red Rooster and Myer Grace Bros.

Comcast Corporation. Comcast Corporation develops, manages, and operates
hybrid fiber-coaxial broadband cable communications networks. The company also
provides programming content. Comcast is implementing high-speed Internet access
service and digital video applications.

Compagnie de Saint-Gobain. Compagnie de Saint-Gobain produces engineered
materials such as industrial ceramics, flat glass, insulation, abrasives, pipes,
fiber reinforcements, building materials and containers. The company was
nationalized in 1982 and was the first French company to be privatized in
December 1986. Saint-Gobain has operations in France and approximately 41 other
countries.

Compagnie Francaise d'Etudes et de Construction SA (Technip). Compagnie
Francaise d'Etudes et de Construction SA (Technip) designs and constructs
industrial facilities. The company designs and builds factories which produce
and process petroleum products, natural gas and chemicals and buildings for the
transportation and power generation industries. Technip operates in Europe, the
Americas, the Middle East, Russia and Malaysia.

Dana Corporation. Dana Corporation engineers, manufactures, and distributes
components and systems for worldwide automotive, heavy truck, off-highway,
engine, and industrial markets. The company also provides leasing services in
selected markets.

Dell Computer Corporation. Dell Computer Corporation designs, develops,
manufactures, markets, services, and supports a variety of computer systems.
Computer systems include desktop computer systems, notebook computers,
workstations, network servers, and storage products. The company sells its
products and services to corporate, government, healthcare, and education
customers, as well as individuals.

Du Pont (E.I.) de Nemours and Company. Du Pont (E.I.) de Nemours and Company
is a global chemical and life sciences company, with businesses in
high-performance materials, specialty chemicals, pharmaceuticals, and
biotechnology. The company sells its products to the transportation, textile,
construction, automotive, agricultural, hybrid seeds, nutrition and health,
pharmaceuticals, packaging, and electronics markets.

Eastman Kodak Company. Eastman Kodak Company develops, manufactures, and
markets consumer, professional, health, and other imaging products and services.
The company's imaging systems include films, photographic papers, processing
services, photographic chemicals, cameras, and projectors. Kodak also develops
digital camera systems which do not use silver halide film technology.

Emerson Electric Company. Emerson Electric Company manufactures and markets
electrical, electromechanical, and electronic products and systems. The company
produces a variety of products, including process control, industrial
automation, electronics, appliance components, and electric motors. Emerson
sells its products around the world.

General Mills, Inc. General Mills, Inc. manufactures and markets consumer
food products. The company's products include Cheerios cereal, Betty Crocker
dessert mixes, Pop Secret microwave popcorn, Gold Medal flour, and Yoplait
yogurt. General Mills also has joint venture operations focused on ready-to-eat
cereals worldwide, snack foods in Europe and in China, and baking and dessert
mixes in Latin America.

General Motors Corporation. General Motors Corporation manufactures and sells
vehicles worldwide under the Chevrolet, Buick, Cadillac, Oldsmobile, Pontiac,
Saturn, and GMC names. The company also has financing and insurance operations.
In addition, General Motors produces products and provides services in other
industries such as satellite and wireless communications.

Hong Kong and China Gas Company, Limited. Hong Kong and China Gas Company,
Limited produces, distributes and markets gas and gas appliances to residential
and industrial customers through its Towngas brand name. The company's
subsidiaries develop gas projects in China and develop and manage commercial
properties.

Iberdrola SA. Iberdrola SA produces, transmits and distributes electrical
power. The company provides electricity primarily to Valencia, Madrid and the
Basque Country. Iberdrola generates electricity using hydroelectric, thermal and
nuclear plants. The company also offers engineering, real estate and
telecommunications services.

Imerys. Imerys processes minerals and manufactures and sells building
materials world- wide. The company produces pigments and additives such as
kaolin, ground calcium carbonate, and precipitated calcium carbonate, clay
roofing tiles, chimney blocks, bricks, and natural slate, ceramic materials used
in tableware, tiles, and sanitaryware, and minerals for refractories and
monolithic refractories.

Intel Corporation. Intel Corporation designs, manufactures, and sells
computer components and related products. The company's major products include
microprocessors, chipsets, embedded processors and microcontrollers, flash
memory products, graphics products, network and communications products, systems
management software, conferencing products, and digital imaging products.

International Paper Company. International Paper Company produces, and
distributes printing paper, packaging, forest products, chemical products. The
company operates specialty businesses in global markets as well as a broadly
based distribution network. International Paper exports its products worldwide.

J.P. Morgan & Company, Inc. J.P. Morgan & Company, Inc. is a leading global
financial services firm that serves the financial needs of business enterprises,
governments, and individuals. The company advises on corporate strategy and
structure, raises capital, makes markets in financial instruments, and manages
investment assets while also committing its own capital in a variety of
investments.

Lafarge SA. Lafarge SA produces building materials. The company produces
cement, concrete and aggregates, gypsum, specialty coatings and paints. Lafarge
sells its products internationally.

Lend Lease Corporation, Limited. Lend Lease Corporation, Limited provides
real estate project management, project design, project financing and
construction services along with property development. The company also manages
REIT's and limited partnerships, provides funds management services including
superannuation, unit trusts, life insurance, investment advice, asset management
and fund manager of infrastructure assets.

Linde AG. Linde AG manufactures a variety of industrial and commercial
materials handling products and vehicles, as well as refrigeration and climate
control systems for food stores and various commercial and industrial
applications. The company also engineers and builds various plants and
production systems and provides industry-specific gases. Linde operates and
sells its products worldwide.

Masco Corporation. Masco Corporation manufactures, and sells home improvement
and building products. The company's products include faucets, kitchen and bath
cabinets, architectural coatings, and builders' hardware products. Masco sells
its products through mass merchandisers, home centers, hardware stores, and
other wholesale and retail outlets to consumers and contractors.

May Department Stores Company. May Department Stores Company, through its
various chains of department stores, retails a variety of goods. The company
operates department stores in the United States and the District of Columbia.

Maytag Corporation. Maytag Corporation produces home and commercial
appliances. The company's products include washers, dryers, refrigerators,
cooking appliances, floor care products, and commercial cooking and vending
equipment. Maytag's products are sold under brand names such as Maytag, Hoover,
Magic Chef, Dixie-Narco, and Blodgett.

Microsoft Corporation. Microsoft Corporation develops, manufactures,
licenses, sells, and supports software products. The company offers operating
system software, server application software, business and consumer applications
software, software development tools, and Internet and intranet software.
Microsoft also develops the MSN network of Internet products and services.

Minnesota Mining and Manufacturing Company (3M). Minnesota Mining and
Manufacturing Company (3M) is a diversified manufacturer of industrial,
commercial, and health care products. The company produces and markets more than
50,000 products worldwide. 3M's products include Post-it Notes, Flex circuits,
Scotchgard fabric, film, and photo protectors, Thinsulate insulation products
and Nexcare bandages.

Oracle Corporation. Oracle Corporation supplies software for enterprise
information management. The company offers databases and relational servers,
application development and decision support tools, and enterprise business
applications. Oracle's software runs on network computers, personal digital
assistants, set-top devices, work- stations, PCs, minicomputers, mainframes, and
massively parallel computers.

Pernod-Ricard SA. Pernod-Ricard SA manufactures anise-based spirits, whiskey,
wines and fruit juices. The company's brands include Richard, Pastis 51 and
Pernod anise-based spirits and Orangina fruit drinks. Pernod also produces Wild
Turkey, Jameson and Clan Campbell whiskeys and processed fruits for the food
industry. The company is active in Europe, Asia and the Americas.

Philip Morris Companies, Inc. Philip Morris Companies, Inc., through its
subsidiaries, manufactures and sells a variety of consumer products. The company
provides tobacco products, as well as packaged foods such as cheese, processed
meat products, coffee, and grocery products. Philip Morris also provides a
variety of beer and brewed non-alcoholic beverages. The company's products are
sold worldwide.

Railtrack Group Plc. Railtrack Group Plc, the holding company for Railtrack,
operates a majority of the railway infrastructure of Britain. The company
provides rail access to train operators and co-ordinates train movements on its
rail network. The company's infrastructure encompasses approximately 10,000
miles of track.

RWE AG. RWE AG, through subsidiaries, offers products and services in the
energy, mining, raw materials, petroleum, chemicals, waste disposal, mechanical
and plant engineering, construction and civil engineering business sectors. The
company operates worldwide.

Sampo Insurance Company, Limited. Sampo Insurance Company, Limited offers
general insurance, life insurance, reinsurance and pension insurance. The
company operates both in Finland and internationally.

SBC Communications, Inc. SBC Communications, Inc. provides communications
services in the United States and in other countries. The company provides local
and long-distance phone service, wireless and data communications, paging,
Internet access and messaging, cable and satellite television, security
services, and telecommunications equipment. SBC also provides directory
advertising and publishing.

Sherwin-Williams Company. Sherwin-Williams Company manufactures, distributes,
and sells paints, coatings, and related products. The company's products are
marketed under the Sherwin-Williams, Dutch Boy, Kem-Tone, and other brand names.
Sherwin-Williams' products are sold to professional, industrial, commercial, and
retail customers primarily in North and South America.

Southcorp, Limited. Southcorp, Limited operates through three business
sectors. The wine group operates vineyards and exports wine in the United
States, Europe and the UK. The packaging group produces food and beverage cans,
milk/juice containers and aseptic packaging. Southcorp also manufactures water
heaters.

Sun Microsystems, Inc. Sun Microsystems, Inc. provides products, services,
and support solutions for building and maintaining network computing
environments. The company sells scalable computer systems, high-speed
microprocessors, and a complete line of high-performance software for operating
network computing equipment and storage products. Sun also provides support,
education, and professional services.

Svenska Cellulosa AB (SCA). Svenska Cellulosa AB (SCA) is an integrated paper
and packaging company. The company produces and markets hygiene products,
packaging and graphic paper. SCA uses recycled and fresh wood fibers for its
products. The company also owns forests and produces sawlogs and pulpwood.
Europe is SCA's largest market.

Telecom Italia Mobile SpA (T.I.M.). Telecom Italia Mobile SpA (T.I.M.) offers
cellular telephone services in Italy. The company operates on the Global System
for Mobile Communication (GSM) and the Total Access Communication System (TACS)
networks. T.I.M. offers Internet access, paging services, after-sales services
and repairs, data transmission services and sells telephones and accessories.

Telefonaktiebolaget LM Ericsson AB. Telefonaktiebolaget LM Ericsson AB
develops and produces advanced systems and products for wired and mobile
communications in public and private networks. The product line includes digital
and analog systems for telephones and networks, microwave radio links, radar
surveillance systems, and business systems. The company produces and markets
worldwide.

WorldCom, Inc. WorldCom, Inc. provides a broad range of communications,
outsourcing, and managed network services worldwide. The company provides long
distance, local, and wireless communications, including voice, data, Internet,
and international services.

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the Board of Directors of Van Kampen Funds Inc. and the Unitholders of Van
Kampen Focus Portfolios, Series 226:

We have audited the accompanying statements of condition and the related
portfolios of Van Kampen Focus Portfolios, Series 226 as of May 9, 2000. The
statements of condition and portfolios are the responsibility of the Sponsor.
Our responsibility is to express an opinion on such financial statements based
on our audit.

We conducted our audit in accordance with auditing standards generally
accepted in the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. Our
procedures included confirmation of an irrevocable letter of credit deposited to
purchase securities by correspondence with the Trustee. An audit also includes
assessing the accounting principles used and significant estimates made by the
Sponsor, as well as evaluating the overall financial statement presentation.

We believe our audit provides a reasonable basis for our opinion. In our
opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of Van Kampen Focus Portfolios, Series
226 as of May 9, 2000, in conformity with accounting principles generally
accepted in the United States. .

GRANT THORNTON LLP
Chicago, Illinois
May 9, 2000

STATEMENTS OF CONDITION
As of May 9, 2000

The Dow 5SM
The DowSM The DowSM & Tech
Strategic 10 Strategic 5 Strategic
INVESTMENT IN SECURITIES Trust Trust Trust
-----------------------------------------------------
<S> <C> <C> <C>
Contracts to purchase Securities (1) $ 147,703 $ 147,010 $ 147,092
-----------------------------------------------------
Total $ 147,703 $ 147,010 $ 147,092

LIABILITIES AND INTEREST
OF UNITHOLDERS
Liabilities--
Organizational costs (2) $ 391 $ 481 $ 471
Deferred sales charge liability (3) 2,611 2,599 2,897
Interest of Unitholders--
Cost to investors (4) 149,200 148,500 148,580
Less: Gross underwriting commission and
organizational costs (2)(4)(5) 4,499 4,570 4,856
-----------------------------------------------------
Net interest to Unitholders (4) 144,701 143,930 143,724
-----------------------------------------------------
Total $ 147,703 $ 147,010 $ 147,092

</TABLE>

- --------------------------------------------------------------------------------

(1) The value of the Securities is determined by Interactive Data Corporation
on the bases set forth under "Public Offering--Offering Price". The
contracts to purchase Securities are collateralized by separate irrevocable
letters of credit which have been deposited with the Trustee.

(2) A portion of the Public Offering Price represents an amount sufficient to
pay for all or a portion of the costs incurred in establishing a Trust. The
amount of these costs are set forth under "Summary of Essential Financial
Information". A distribution will be made as of the close of the initial
offering period to an account maintained by the Trustee from which the
organizational expense obligation of the investors will be satisfied.

(3) Represents the amount of mandatory distributions from a Trust on the bases
set forth under "Public Offering".

(4) The aggregate public offering price and the aggregate sales charge are
computed on the bases set forth under "Public Offering--Offering Price".

(5) Assumes the maximum sales charge.

STATEMENTS OF CONDITION
As of May 9, 2000

Strategic
NasdaqSM Picks EAFESM
Strategic 10 Opportunity Strategic 20
INVESTMENT IN SECURITIES Trust Trust Trust
-----------------------------------------------------
<S> <C> <C> <C> <C>
Contracts to purchase Securities (1) $ 147,079 $ 149,380 $ 245,657
-----------------------------------------------------
Total $ 147,079 $ 149,380 $ 245,657

LIABILITIES AND INTEREST
OF UNITHOLDERS
Liabilities--
Organizational costs (2) $ 154 $ 461 $ 14
Deferred sales charge liability (3) 2,897 2,942 4,839
Interest of Unitholders--
Cost to investors (4) 148,570 150,890 248,140
Less: Gross underwriting commission and
organizational costs (2)(4)(5) 4,542 4,913 7,336
-----------------------------------------------------
Net interest to Unitholders (4) 144,028 145,977 240,804
-----------------------------------------------------
Total $ 147,079 $ 149,380 $ 245,657

</TABLE>

- --------------------------------------------------------------------------------

(3) Represents the amount of mandatory distributions from a Trust on the bases
set forth under "Public Offering".

(4) The aggregate public offering price and the aggregate sales charge are
computed on the bases set forth under "Public Offering--Offering Price".

(5) Assumes the maximum sales charge.

THE TRUSTS
- --------------------------------------------------------------------------------

The Trusts were created under the laws of the State of New York pursuant to a
Trust Indenture and Trust Agreement (the "Trust Agreement"), dated the date of
this Prospectus (the "Initial Date of Deposit"), among Van Kampen Funds Inc., as
Sponsor, Van Kampen Investment Advisory Corp., as Supervisor, The Bank of New
York, as Trustee, and American Portfolio Evaluation Services, a division of Van
Kampen Investment Advisory Corp., as Evaluator.
The Trusts offer investors the opportunity to purchase Units representing
proportionate interests in portfolios of actively traded equity securities which
are components of major stock market indexes. A Trust may be an appropriate
medium for investors who desire to participate in a portfolio of stocks with
greater diversification than they might be able to acquire individually and who
are seeking to achieve a better performance than the related indexes.
On the Initial Date of Deposit, the Sponsor deposited delivery statements
relating to contracts for the purchase of the Securities and an irrevocable
letter of credit in the amount required for these purchases with the Trustee. In
exchange for these contracts the Trustee delivered to the Sponsor documentation
evidencing the ownership of Units of the Trusts. Unless otherwise terminated as
provided in the Trust Agreement, the Trusts will terminate on the Mandatory
Termination Date and any remaining Securities will be liquidated or distributed
by the Trustee within a reasonable time. As used in this Prospectus the term
"Securities" means the securities (including contracts to purchase these
securities) listed in "Portfolio" for each Trust and any additional securities
deposited into each Trust.

Additional Units of a Trust may be issued at any time by depositing in the
Trust (i) additional Securities, (ii) contracts to purchase Securities together
with cash or irrevocable letters of credit or (iii) cash (or a letter of credit)
with instructions to purchase additional Securities. As additional Units are
issued by a Trust, the aggregate value of the Securities will be increased and
the fractional undivided interest represented by each Unit will be decreased.
The Sponsor may continue to make additional deposits into a Trust following the
Initial Date of Deposit provided that the additional deposits will be in amounts
which will maintain, as nearly as practicable, the same percentage relationship
among the number of shares of each Security in the Trust's portfolio that
existed immediately prior to the subsequent deposit. Investors may experience a
dilution of their investments and a reduction in their anticipated income
because of fluctuations in the prices of the Securities between the time of the
deposit and the purchase of the Securities and because the Trusts will pay the
associated brokerage or acquisition fees.

Each Unit of a Trust initially offered represents an undivided interest in
that Trust. To the extent that any Units are redeemed by the Trustee or
additional Units are issued as a result of additional Securities being deposited
by the Sponsor, the fractional undivided interest in that Trust represented by
each unredeemed Unit will increase or decrease accordingly, although the actual
interest in the Trust will remain unchanged. Units will remain outstanding until
redeemed upon tender to the Trustee by Unitholders, which may include the
Sponsor, or until the termination of the Trust Agreement.
Each Trust consists of (a) the Securities (including contracts for the
purchase thereof) listed under the applicable "Portfolio" as may continue to be
held from time to time in the Trust, (b) any additional Securities acquired and
held by the Trust pursuant to the provisions of the Trust Agreement and (c) any
cash held in the related Income and Capital Accounts. Neither the Sponsor nor
the Trustee shall be liable in any way for any failure in any of the Securities.

OBJECTIVES AND SECURITIES SELECTION
- --------------------------------------------------------------------------------

The objective of each Trust is to provide an above average total return by
investing in a portfolio of actively traded equity securities selected using the
Trust's investment strategy. We describe the investment strategy for each Trust
in the individual Trust sections beginning on page 4. There is no assurance that
a Trust will achieve its objective.

The publishers of the indexes have not participated in any way in the
creation of the Trusts or in the selection of stocks included in the Trusts and
have not approved any information herein relating thereto. With the exception of
the Morgan Stanley Capital International Indexes, the publishers of these
indexes are not affiliated with the Sponsor.
Each Trust portfolio is selected by implementing the Trust strategy as of the
close of business three business days prior to the Initial Date of Deposit (the
"Selection Time"). In the case of securities traded on a United States
securities exchange, the dividend yield is computed by annualizing the last
dividend declared and dividing the result by the market value at the Selection
Time. In the case of securities traded on a foreign securities exchange, the
dividend yield is computed by adding the most recent interim and final dividends
declared and dividing the result by the market value at the Selection Time.
The Trusts seek to achieve better performance than the related indexes
through similar investment strategies. Investment in a number of companies
having high dividends relative to their stock prices or low price to book ratios
(because their stock prices may be undervalued) is designed to increase the
potential for higher returns over time. The Trust investment strategies are
designed to be implemented on an annual basis. Investors who hold Units through
Trust termination may have investment results that differ significantly from a
Unit investment that is reinvested into a new trust every twelve months.
A balanced investment portfolio incorporates various style and capitalization
characteristics. The Sponsor offers unit trusts with a variety of styles and
capitalizations to meet your needs. The Sponsor determines style characteristics
(growth and value) based on the criteria used in selecting the Trust portfolio.
Generally, a growth portfolio includes companies in a growth phase of their
business with increasing earnings. A value portfolio generally includes
companies with low relative price-earnings ratios that the Sponsor believes are
undervalued. The Sponsor determines market capitalizations as follows based on
the weighted median market capitalization of a portfolio: Small-Cap -- less than
$1.7 billion; Mid-Cap -- $1.7 billion to $10.8 billion; and Large-Cap -- over
$10.8 billion. The Sponsor determines all style and capitalization
characteristics as of the Initial Date of Deposit and the characteristics may
vary thereafter. The Sponsor will not remove a Security from a Trust as a result
of any change in characteristics.
Investors should note that the above criteria were applied to the Securities
for inclusion in the Trusts as of three business days prior to the Initial Date
of Deposit. Subsequent to this date, the Securities may no longer be included in
an index or meet the above criteria. Should a Security no longer be included in
these indexes or meet the selection criteria, the Security will not as a result
thereof be removed from its Trust portfolio.

RISK FACTORS
- --------------------------------------------------------------------------------

PRICE VOLATILITY. The Trusts invest in stocks of U.S. and foreign companies.
The value of Units will fluctuate with the value of these stocks and may be more
or less than the price you originally paid for your Units. The market value of
stocks sometimes moves up or down rapidly and unpredictably. Because the Trusts
are unmanaged, the Trustee will not sell stocks in response to market
fluctuations as is common in managed investments. In addition, because some
Trusts hold a relatively small number of stocks, you may encounter greater
market risk than in a more diversified investment. As with any investment, we
cannot guarantee that the performance of a Trust will be positive over any
period of time.
DIVIDENDS. Stocks represent ownership interests in the issuers and are not
obligations of the issuers. Common stockholders have a right to receive
dividends only after the company has provided for payment of its creditors,
bondholders and preferred stockholders. Common stocks do not assure dividend
payments. Dividends are paid only when declared by an issuer's board of
directors and the amount of any dividend may vary over time.
FOREIGN STOCKS. Because the EAFE Strategic 20 Trust invests in foreign
stocks, this Trust involves additional risks that differ from an investment in
domestic stocks. These risks include the risk of losses due to future political
and economic developments, international trade conditions, foreign withholding
taxes and restrictions on foreign investments and exchange of securities. This
Trust also involves the risk that fluctuations in exchange rates between the
U.S. dollar and foreign currencies may negatively affect the value of the
stocks. This Trust involves the risk that information about the stocks is not
publicly available or is inaccurate due to the absence of uniform accounting and
financial reporting standards. In addition, some foreign securities markets are
less liquid than U.S. markets. This could cause the Trust to buy stocks at a
higher price or sell stocks at a lower price than would be the case in a highly
liquid market. Foreign securities markets are often more volatile and involve
higher trading costs than U.S. markets, and foreign companies, securities
markets and brokers are also generally not subject to the same level of
supervision and regulation as in the U.S.
EUROPE. The EAFE Strategic 20 Trust invests in stocks principally traded in
Europe. This Trust involves additional risks that differ from an investment in
United States companies. In recent years, many European countries have
participated in the European Economic and Monetary Union (EMU) seeking to
develop a unified European economy. For this reason and others, many European
countries have experienced significant political, social and economic change in
recent years. Any negative consequences resulting from these changes could
affect the value of your Trust.
On January 1, 1999, eleven EMU member countries introduced a new European
currency called the Euro. This may result in uncertainties for European
securities markets and operation of your Trust. This introduction requires the
redenomination of European debt and equity securities over a period of time.
This could result in various accounting differences and/or tax treatments that
otherwise would not likely occur. As part of the Euro conversion, participating
countries will no longer control their own monetary policies by directing
independent interest rates or currency transactions. Instead, a new European
Central Bank has authority to direct monetary policy, including money supply of
the national currencies of the participating countries to the Euro. Certain EMU
members, including the United Kingdom, are not implementing the Euro at this
time. This could raise additional questions and complications within European
markets. European markets could face significant difficulties if the Euro
introduction does not take place as planned. These difficulties could include
such things as severe currency fluctuations and market disruptions. No one can
predict whether all phases of the conversion will take place as scheduled or
whether future difficulties will occur. No one can predict the impact of the
conversion. All of these issues could have a negative impact on the value of
your Units.
PACIFIC REGION. The EAFE Strategic 20 Trust invests in stocks that
principally trade in Pacific region countries. This Trust involves additional
risks that differ from an investment in United States companies. Social,
political and economic instability has been significantly greater in Pacific
region countries than that typically associated with the United States and
Western European countries. Any instability could significantly disrupt Pacific
region markets and could adversely affect the value of Units. The MSCI Indexes
seek to focus on developed countries. Nonetheless, Pacific region countries are
in various stages of economic development. Some economies are substantially less
developed than the U.S. economy. Adverse conditions in these countries can
negatively impact the economies of countries in the region with more developed
markets.
Many of these countries depend significantly on international trade. As a
result, protective trade barriers and the economic conditional of their trading
partners can hurt these economies. These countries may also be sensitive to
world commodity prices and vulnerable to recession in other countries. While
some Pacific region countries have experienced rapid growth, many countries have
immature financial sectors, economic problems or archaic legal systems. Pacific
region economies have experienced significant difficulties in recent years. Some
of these difficulties include substantial declines in the value of currencies,
gross domestic product and corporate earnings, political turmoil and stock
market volatility. In 1997, a significant drop in Thailand's currency set off a
wave of currency depreciations throughout South and Southeast Asia. Most of the
area's stock markets fell dramatically in reaction to these events. Consumer
demand in these countries has been weak due to a general reduction in global
growth. Interest rates and inflation have also increased in many of these
countries.

TECHNOLOGY ISSUERS. The Dow 5SM & Tech Strategic Trust and NasdaqSM Strategic
10 Trust invest significantly in technology companies. These companies face
risks related to rapidly changing technology, rapid product obsolescence,
cyclical market patterns, evolving industry standards and frequent new product
introductions. An unexpected change in technology can have a significant
negative impact on a company. The failure of a company to introduce new products
or technologies or keep pace with rapidly changing technology, can have a
negative impact on the company's results. Technology stocks tend to experience
substantial price volatility and speculative trading. Announcements about new
products, technologies, operating results or marketing alliances can cause stock
prices to fluctuate dramatically. At times, however, extreme price and volume
fluctuations are unrelated to the operating performance of a company. This can
impact your ability to redeem your Units at a price equal to or greater than
what you paid.
The market for certain products may have only recently begun to develop, is
rapidly evolving or is characterized by increasing suppliers. Key components of
some technology products are available only from limited sources. This can
impact the cost of and ability to acquire these components. Some technology
companies serve highly concentrated customer bases with a limited number of
large customers. Any failure to meet the standard of these customers can result
in a significant loss or reduction in sales. Many products and technologies are
incorporated into other products. As a result, some companies are highly
dependent on the performance of other technology companies. We cannot guarantee
that these customers will continue to place additional orders or will place
orders in similar quantities as in the past.
CONSUMER PRODUCT AND RETAIL ISSUERS. The Strategic Picks Opportunity and EAFE
Strategic 10 Trusts may invest significantly in companies that manufacture or
sell various consumer products. General risks of these companies include the
general state of the economy, intense competition and consumer spending trends.
A decline in the economy which results in a reduction of consumers' disposable
income can negatively impact spending habits. Competitiveness in the retail
industry will require large capital outlays for the installation of automated
checkout equipment to control inventory, track the sale of items and gauge the
success of sales campaigns. Retailers who sell their products over the Internet
have the potential to access more consumers, but will require sophisticated
technology to remain competitive.
LEGISLATION/LITIGATION. From time to time, various legislative initiatives
are proposed in the United States and abroad which may have a negative impact on
certain of the companies represented in the Trusts. In addition, litigation
regarding any of the issuers of the Securities, such as that concerning Philip
Morris Companies, Inc. and Microsoft Corporation, or of the industries
represented by these issuers may negatively impact the share prices of these
Securities. No one can predict what impact any pending or threatened litigation
will have on the share prices of the Securities.

NO FDIC GUARANTEE. An investment in your Trust is not a deposit of any bank
and is not insured or guaranteed by the Federal Deposit Insurance Corporation or
any other government agency.

PUBLIC OFFERING
- --------------------------------------------------------------------------------

GENERAL. Units are offered at the Public Offering Price which includes the
underlying value of the Securities, the initial sales charge, and cash, if any,
in the Income and Capital Accounts. The "Fee Table" describes the sales charges
in detail. If any deferred sales charge payment date is not a business day, we
will charge the payment on the next business day. If you purchase Units after
the initial deferred sales charge payment, you will only pay that portion of the
payments not yet collected. A portion of the Public Offering Price includes an
amount of Securities to pay for all or a portion of the costs incurred in
establishing your Trust. These costs include the cost of preparing documents
relating to the Trust (such as the prospectus, trust agreement and closing
documents), federal and state registration fees, the initial fees and expenses
of the Trustee and legal and audit expenses. The initial offering period sales
charge is reduced as follows:

AGGREGATE DOLLAR AMOUNT SALES CHARGE
OF UNITS PURCHASED* REDUCTION
- --------------------- ----------------
$50,000 - $99,999 0.25%
$100,000 - $149,999 0.50
$150,000 - $999,999 0.85
$1,000,000 or more 1.75

- ---------------
*The breakpoint sales charges are also applied on a Unit basis utilizing a
breakpoint equivalent in the above table of $10 per Unit and will be applied on
whichever basis is more favorable to the investor.

Any sales charge reduction is the responsibility of the selling broker,
dealer or agent. An investor may aggregate purchases of Units of the Trusts for
purposes of qualifying for volume purchase discounts listed above. The reduced
sales charge structure will also apply on all purchases by the same person from
any one dealer of units of Van Kampen-sponsored unit investment trusts which are
being offered in the initial offering period (a) on any one day (the "Initial
Purchase Date") or (b) on any day subsequent to the Initial Purchase Date if the
units purchased are of a unit investment trust purchased on the Initial Purchase
Date. In the event units of more than one trust are purchased on the Initial
Purchase Date, the aggregate dollar amount of such purchases will be used to
determine whether purchasers are eligible for a reduced sales charge. Such
aggregate dollar amount will be divided by the public offering price per unit of
each respective trust purchased to determine the total number of units which
such amount could have purchased of each individual trust. Purchasers must then
consult the applicable trust's prospectus to determine whether the total number
of units which could have been purchased of a specific trust would have
qualified for a reduced sales charge and the amount of such reduction. To
determine the applicable sales charge reduction it is necessary to accumulate
all purchases made on the Initial Purchase Date and all purchases made in
accordance with (b) above. Units purchased in the name of the spouse of a
purchaser or in the name of a child of such purchaser ("immediate family
members") will be deemed to be additional purchases by the purchaser for the
purposes of calculating the applicable sales charge. The reduced sales charges
will also be applicable to a trustee or other fiduciary purchasing securities
for one or more trust estate or fiduciary accounts. If you purchase units on
more than one day to achieve the discounts described in this paragraph, the
discount allowed on any single day will apply only to Units purchased on that
day (a retroactive discount is not given on all prior purchases).
A portion of the sales charge is waived for certain accounts described in
this paragraph. Purchases by these accounts are subject only to the portion of
the deferred sales charge that is retained by the Sponsor. Please refer to the
section called "Wrap Fee and Advisory Accounts" for additional information on
these purchases. Units may be purchased in the primary or secondary market at
the Public Offering Price less the concession the Sponsor typically allows to
brokers and dealers for purchases by (1) investors who purchase Units through
registered investment advisers, certified financial planners and registered
broker-dealers who in each case either charge periodic fees for brokerage
services, financial planning, investment advisory or asset management service,
or provide such services in connection with the establishment of an investment
account for which a comprehensive "wrap fee" charge is imposed, (2) bank trust
departments investing funds over which they exercise exclusive discretionary
investment authority and that are held in a fiduciary, agency, custodial or
similar capacity, (3) any person who for at least 90 days, has been an officer,
director or bona fide employee of any firm offering Units for sale to investors
or their immediate family members (as described above) and (4) officers and
directors of bank holding companies that make Units available directly or
through subsidiaries or bank affiliates. Notwithstanding anything to the
contrary in this Prospectus, such investors, bank trust departments, firm
employees and bank holding company officers and directors who purchase Units
through this program will not receive sales charge reductions for quantity
purchases.
During the initial offering period of the Trusts offered in this prospectus,
unitholders of any other Van Kampen-sponsored unit investment trusts may utilize
their redemption or termination proceeds to purchase Units of the Trusts offered
in this prospectus at the Public Offering Price per Unit less 1%.
During the initial offering period of the Trusts offered in this prospectus,
unitholders of unaffiliated unit investment trusts having an investment strategy
similar to the investment strategy of the Trusts offered in this prospectus may
utilize proceeds received upon termination or upon redemption immediately
preceding termination of such unaffiliated trust to purchase Units of a Trust
offered in this prospectus at the Public Offering Price per Unit less 1%.
Employees, officers and directors (including their spouses, children,
grandchildren, parents, grandparents, siblings, mothers-in-law, fathers-in-law,
sons-in-law, daughters-in-law, and trustees, custodians or fiduciaries for the
benefit of such persons) of the Van Kampen Funds Inc. and its affiliates,
dealers and their affiliates and vendors providing services to the Sponsor may
purchase Units at the Public Offering Price less the applicable dealer
concession.

Your Trust will charge the deferred sales charge per Unit regardless of any
discounts. However, if you are eligible to receive a discount such that the
sales charge you must pay is less than the applicable deferred sales charge, you
will be credited the difference between your sales charge and the deferred sales
charge at the time you buy your Units. If you elect to have distributions
reinvested into additional Units of your Trust, in addition to the reinvestment
Units you receive you will also be credited additional Units with a dollar value
sufficient to cover the amount of any remaining deferred sales charge to be
collected on such Units at the time of reinvestment. The dollar value of these
Units will fluctuate over time.

The minimum purchase is 100 Units (25 Units for retirement accounts) but may
vary by selling firm. However, in connection with fully disclosed transactions
with the Sponsor, the minimum purchase requirement will be that number of Units
set forth in the contract between the Sponsor and the related broker or agent.
OFFERING PRICE. The Public Offering Price of Units will vary from the amounts
stated under "Summary of Essential Financial Information" in accordance with
fluctuations in the prices of the underlying Securities in the Trusts. The
initial price of the Securities was determined by Interactive Data Corporation,
a firm regularly engaged in the business of evaluating, quoting or appraising
comparable securities. The Evaluator will generally determine the value of the
Securities as of the Evaluation Time on each business day and will adjust the
Public Offering Price of Units accordingly. This Public Offering Price will be
effective for all orders received prior to the Evaluation Time on each business
day. The Evaluation Time is the close of the New York Stock Exchange on each
Trust business day. Orders received by the Trustee or Sponsor for purchases,
sales or redemptions after that time, or on a day which is not a business day,
will be held until the next determination of price. The term "business day", as
used herein and under "Rights of Unitholders--Redemption of Units", excludes
Saturdays, Sundays and holidays observed by the New York Stock Exchange. The
term "business day" also excludes any day on which more than 33% of the
Securities are not traded on their principal trading exchange due to a customary
business holiday on that exchange.
The aggregate underlying value of the Securities during the initial offering
period is determined on each business day by the Evaluator in the following
manner: If the Securities are listed on a national or foreign securities
exchange or the Nasdaq Stock Market, Inc., this evaluation is generally based on
the closing sale prices on that exchange or market (unless it is determined that
these prices are inappropriate as a basis for valuation) or, if there is no
closing sale price on that exchange or market, at the closing asked prices. If
the Securities are not listed on a national or foreign securities exchange or
the Nasdaq Stock Market, Inc. or, if so listed and the principal market therefor
is other than on the exchange or market, the evaluation shall generally be based
on the current asked price on the over-the-counter market (unless it is
determined that these prices are inappropriate as a basis for evaluation). If
current asked prices are unavailable, the evaluation is generally determined (a)
on the basis of current asked prices for comparable securities, (b) by
appraising the value of the Securities on the asked side of the market or (c) by
any combination of the above. The value of any foreign securities is based on
the applicable currency exchange rate as of the Evaluation Time. The value of
the Securities for purposes of secondary market transactions and redemptions is
described under "Rights of Unitholders--Redemption of Units".
In offering the Units to the public, neither the Sponsor nor any
broker-dealers are recommending any of the individual Securities but rather the
entire pool of Securities in a Trust, taken as a whole, which are represented by
the Units.
UNIT DISTRIBUTION. Units will be distributed to the public by the Sponsor,
broker-dealers and others at the Public Offering Price. Units repurchased in the
secondary market, if any, may be offered by this Prospectus at the secondary
market Public Offering Price in the manner described above.
The Sponsor intends to qualify Units for sale in a number of states. Brokers,
dealers and others will be allowed a concession or agency commission in
connection with the distribution of Units during the initial offering period as
set forth in the following table. A portion of the concessions or agency
commissions represents amounts paid by the Sponsor out of its own assets as
additional compensation.

AGGREGATE
DOLLAR AMOUNT OF
UNITS PURCHASED
-------------------------
Less than $50,000 2.25%
$50,000 - $99,999 2.00
$100,000 - $149,999 1.75
$150,000 - $999,999 1.40
$1,000,000 or more 0.65

In addition to the amounts above, during the initial offering period any firm
that distributes 500,000 - 999,999 Units of The Dow 5SM & Tech Strategic,
NasdaqSM Strategic 10, Strategic Picks Opportunity or EAFE Strategic 20 Trust
will receive additional compensation of $.0025 per Unit of such Trust; any firm
that distributes 1,000,000 - 1,999,999 Units will receive additional
compensation of $.005 per Unit of such Trust; any firm that distributes
2,000,000 - 2,999,999 Units will receive additional compensation of $.01 per
Unit of such Trust; any firm that distributes 3,000,000 - 3,999,999 Units will
receive additional compensation of $.015 per Unit of such Trust; any firm that
distributes 4,000,000 - 4,999,999 Units will receive additional compensation of
$.02 per Unit of such Trust; any firm that distributes 5,000,000 Units or more
will receive additional compensation of $.025 per Unit of such Trust. This
additional compensation will be paid by the Sponsor out of its own assets at the
end of the initial offering period.

Any discount provided to investors will be borne by the selling dealer or
agent as indicated under "General" above. For transactions involving unitholders
of other unit investment trusts who use their redemption or termination proceeds
to purchase Units of the Trusts, the total concession or agency commission will
equal 1.30% per Unit (1.25% for the EAFE Strategic 20 Trust) (or such lesser
amount resulting from discounts). For all secondary market transactions the
total concession or agency commission will amount to 2.10% per Unit (70% of the
applicable sales charge for The Dow 5SM & Tech Strategic Trust). Notwithstanding
anything to the contrary herein, in no case shall the total of any concessions,
agency commissions and any additional compensation allowed or paid to any
broker, dealer or other distributor of Units with respect to any individual
transaction exceed the total sales charge applicable to such transaction. The
Sponsor reserves the right to reject, in whole or in part, any order for the
purchase of Units and to change the amount of the concession or agency
commission to dealers and others from time to time. The breakpoint concessions
or agency commissions are also applied on a Unit basis utilizing a breakpoint
equivalent of $10 per Unit and will be applied on whichever basis is more
favorable to the broker, dealer or agent.

Broker-dealers of the Trusts, banks and/or others may be eligible to
participate in a program in which such firms receive from the Sponsor a nominal
award for each of their representatives who have sold a minimum number of units
of unit investment trusts created by the Sponsor during a specified time period.
In addition, at various times the Sponsor may implement other programs under
which the sales forces of brokers, dealers, banks and/or others may be eligible
to win other nominal awards for certain sales efforts, or under which the
Sponsor will reallow to such brokers, dealers, banks and/or others that sponsor
sales contests or recognition programs conforming to criteria established by the
Sponsor, or participate in sales programs sponsored by the Sponsor, an amount
not exceeding the total applicable sales charges on the sales generated by such
persons at the public offering price during such programs. Also, the Sponsor in
its discretion may from time to time pursuant to objective criteria established
by the Sponsor pay fees to qualifying entities for certain services or
activities which are primarily intended to result in sales of Units of the
Trusts. Such payments are made by the Sponsor out of its own assets, and not out
of the assets of any Trust. These programs will not change the price Unitholders
pay for their Units or the amount that a Trust will receive from the Units sold.
SPONSOR COMPENSATION. The Sponsor will receive a gross sales commission equal
to the total sales charge applicable to each transaction. Any sales charge
discount provided to investors will be borne by the selling dealer or agent. In
addition, the Sponsor will realize a profit or loss as a result of the
difference between the price paid for the Securities by the Sponsor and the cost
of the Securities to each Trust on the Initial Date of Deposit as well as on
subsequent deposits. See "Notes to Portfolios". The Sponsor has not participated
as sole underwriter or as manager or as a member of the underwriting syndicates
or as an agent in a private placement for any of the Securities. The Sponsor may
realize profit or loss as a result of the possible fluctuations in the market
value of the Securities, since all proceeds received from purchasers of Units
are retained by the Sponsor. In maintaining a secondary market, the Sponsor will
realize profits or losses in the amount of any difference between the price at
which Units are purchased and the price at which Units are resold (which price
includes the applicable sales charge) or from a redemption of repurchased Units
at a price above or below the purchase price. Cash, if any, made available to
the Sponsor prior to the date of settlement for the purchase of Units may be
used in the Sponsor's business and may be deemed to be a benefit to the Sponsor,
subject to the limitations of the Securities Exchange Act of 1934.
The Sponsor or an affiliate may have participated in a public offering of one
or more of the Securities. The Sponsor, an affiliate or their employees may have
a long or short position in these Securities or related securities. An affiliate
may act as a specialist or market maker for these Securities. An officer,
director or employee of the Sponsor or an affiliate may be an officer or
director for issuers of the Securities.
Purchases and sales of Securities by your Trust may impact the value of the
Securities. This may especially be the case during the initial offering of
Units, upon Trust termination and in the course of satisfying large Unit
redemptions. Any publication of a list of Securities, or a list of anticipated
Securities, to be included in a Trust may also cause increased buying activity
in certain Securities. Once this information becomes public, investors may
purchase individual Securities appearing in such a publication and may do so
during or prior to the initial offering of Units. It is possible that these
investors could include investment advisory and brokerage firms of the Sponsor
or its affiliates or firms that are distributing Units. This activity may cause
your Trust to purchase stocks at a higher price than those buyers who effect
purchases prior to purchases by your Trust.
MARKET FOR UNITS. Although it is not obligated to do so, the Sponsor
currently intends to maintain a market for Units and to purchase Units at the
secondary market repurchase price (which is described under "Right of
Unitholders--Redemption of Units"). The Sponsor may discontinue purchases of
Units or discontinue purchases at this price at any time. The Sponsor intends to
maintain a secondary market for Units only during the first six months following
the Initial Date of Deposit. In the event that a secondary market is not
maintained, a Unitholder will be able to dispose of Units by tendering them to
the Trustee for redemption at the Redemption Price. See "Rights of
Unitholders--Redemption of Units". Unitholders should contact their broker to
determine the best price for Units in the secondary market. Units sold prior to
the time the entire deferred sales charge has been collected will be assessed
the amount of any remaining deferred sales charge at the time of sale. The
Trustee will notify the Sponsor of any tendered of Units for redemption. If the
Sponsor's bid in the secondary market equals or exceeds the Redemption Price per
Unit, it may purchase the Units not later than the day on which Units would have
been redeemed by the Trustee. The Sponsor may sell repurchased Units at the
secondary market Public Offering Price per Unit.

RETIREMENT ACCOUNTS
- --------------------------------------------------------------------------------

Units are available for purchase in connection with certain types of
tax-sheltered retirement plans, including Individual Retirement Accounts for the
individuals, Simplified Employee Pension Plans for employees, qualified plans
for self-employed individuals, and qualified corporate pension and profit
sharing plans for employees. The minimum purchase for these accounts is reduced
to 25 Units but may vary by selling firm. The purchase of Units may be limited
by the plans' provisions and does not itself establish such plans.

WRAP FEE AND ADVISORY ACCOUNTS
- --------------------------------------------------------------------------------

Units may be available for purchase by investors who purchase Units through
registered investment advisers, certified financial planners and registered
broker-dealers who in each case either charge periodic fees for brokerage
services, financial planning, investment advisory or asset management service,
or provide such services in connection with the establishment of an investment
account for which a comprehensive ,,wrap fee/oo charge is imposed. You should
consult your financial professional to determine whether you can benefit from
these accounts. For these purchases you generally only pay the portion of the
sales charge that is retained by your Trust,s Sponsor, Van Kampen Funds Inc.
This table illustrates the transaction fees you will pay as a percentage of the
public offering price per Unit.

THE DOWSM
STRATEGIC
10 AND 5 OTHER
TRUSTS TRUSTS
--------- ---------
Fee paid on purchase 0.00% 0.00%
Deferred sponsor retention 0.50 0.70
--------- ---------
Total 0.50% 0.70%
========= =========

You should consult the "Public Offering--General" section for specific
information on this and other sales charge discounts.

RIGHTS OF UNITHOLDERS
- --------------------------------------------------------------------------------

DISTRIBUTIONS. Dividends and any net proceeds from the sale of Securities
received by a Trust will generally be distributed to Unitholders on each
Distribution Date to Unitholders of record on the preceding Record Date. These
dates appear under "Summary of Essential Financial Information". Untiholders
will also receive a final distribution of dividends when their Trust terminates.
A person becomes a Unitholder of record on the date of settlement (generally
three business days after Units are ordered). Unitholders may elect to receive
distributions in cash or to have distributions reinvested into additional Units.
Distributions may also be reinvested into Van Kampen mutual funds. See "Rights
of Unitholders--Reinvestment Option".
Dividends received by a Trust are credited to the Income Account of the
Trust. Other receipts (e.g., capital gains, proceeds from the sale of
Securities, etc.) are credited to the Capital Account. Proceeds received on the
sale of any Securities, to the extent not used to meet redemptions of Units or
pay deferred sales charges, fees or expenses, will be distributed to
Unitholders. Proceeds received from the disposition of any Securities after a
record date and prior to the following distribution date will be held in the
Capital Account and not distributed until the next distribution date. Any
distribution to Unitholders consists of each Unitholder's pro rata share of the
available cash in the Income and Capital Accounts as of the related Record Date.
REINVESTMENT OPTION. Unitholders may have distributions automatically
reinvested in additional Units under the Automatic Reinvestment Option without a
sales charge (to the extent Units may be lawfully offered for sale in the state
in which the Unitholder resides) through two options. Brokers and dealers can
use the Dividend Reinvestment Service through Depository Trust Company or
purchase the Automatic Reinvestment Option CUSIP, if available. To participate
in this reinvestment option, a Unitholder must file with the Trustee a written
notice of election, together with any certificate representing Units and other
documentation that the Trustee may then require, at least five days prior to the
related Record Date. A Unitholder's election will apply to all Units owned by
the Unitholder and will remain in effect until changed by the Unitholder. If
Units are unavailable for reinvestment, distributions will be paid in cash.
In addition, under the Guaranteed Reinvestment Option Unitholders may elect
to have distributions automatically reinvested in certain Van Kampen mutual
funds (the "Reinvestment Funds"). Each Reinvestment Fund has investment
objectives which differ from those of the Trusts. The prospectus relating to
each Reinvestment Fund describes its investment policies and how to begin
reinvestment. A Unitholder may obtain a prospectus for the Reinvestment Funds
from the Sponsor. Purchases of shares of a Reinvestment Fund will be made at a
net asset value computed on the Distribution Date. Unitholders with an existing
Guaranteed Reinvestment Option account (whereby a sales charge is imposed on
distribution reinvestments) may transfer their existing account into a new
account which allows purchases of Reinvestment Fund shares at net asset value.
A participant may elect to terminate his or her reinvestment plan and receive
future distributions in cash by notifying the Trustee in writing no later than
five days before a distribution date. The Sponsor, each Reinvestment Fund, and
its investment adviser shall have the right to suspend or terminate these
reinvestment plans at any time.
REDEMPTION OF UNITS. A Unitholder may redeem all or a portion of his Units by
tender to the Trustee at its Unit Investment Trust Division, 101 Barclay Street,
20th Floor, New York, New York 10286. Certificates must be tendered to the
Trustee, duly endorsed or accompanied by proper instruments of transfer with
signature guaranteed (or by providing satisfactory indemnity in connection with
lost, stolen or destroyed certificates) and by payment of applicable
governmental charges, if any. On the seventh day following the tender, the
Unitholder will be entitled to receive in cash an amount for each Unit equal to
the Redemption Price per Unit next computed on the date of tender. The "date of
tender" is deemed to be the date on which Units are received by the Trustee,
except that with respect to Units received by the Trustee after the Evaluation
Time or on a day which is not a Trust business day, the date of tender is deemed
to be the next business day.
Unitholders tendering 1,000 or more Units of a Trust for redemption may
request an in kind distribution of Securities equal to the Redemption Price per
Unit on the date of tender. The Trusts generally do not offer in kind
distributions of portfolio securities that are held in foreign markets. An in
kind distribution will be made by the Trustee through the distribution of each
of the Securities in book-entry form to the account of the Unitholder's
broker-dealer at Depository Trust Company. Amounts representing fractional
shares will be distributed in cash. The Trustee may adjust the number of shares
of any Security included in a Unitholder's in kind distribution to facilitate
the distribution of whole shares.
The Trustee may sell Securities to satisfy Unit redemptions. To the extent
that Securities are redeemed in kind or sold, the size of a Trust will be, and
the diversity of a Trust may be, reduced. Sales may be required at a time when
Securities would not otherwise be sold and may result in lower prices than might
otherwise be realized. The price received upon redemption may be more or less
than the amount paid by the Unitholder depending on the value of the Securities
at the time of redemption. Special federal income tax consequences will result
if a Unitholder requests an in kind distribution. See "Taxation".
The Redemption Price per Unit and the secondary market repurchase price per
Unit are equal to the pro rata share of each Unit in each Trust determined on
the basis of (i) the cash on hand in the Trust, (ii) the value of the Securities
in the Trust and (iii) dividends receivable on the Securities in the Trust
trading ex-dividend as of the date of computation, less (a) amounts representing
taxes or other governmental charges payable out of the Trust, (b) the accrued
expenses of the Trust and (c) any unpaid deferred sales charge payments. During
the initial offering period, the redemption price and the secondary market
repurchase price will include estimated organizational and offering costs. For
these purposes, the Evaluator may determine the value of the Securities in the
following manner: If the Securities are listed on a national or foreign
securities exchange or the Nasdaq Stock Market, Inc., this evaluation is
generally based on the closing sale prices on that exchange or market (unless it
is determined that these prices are inappropriate as a basis for valuation) or,
if there is no closing sale price on that exchange or market, at the closing bid
prices. If the Securities are not so listed or, if so listed and the principal
market therefor is other than on the exchange or market, the evaluation may be
based on the current bid price on the over-the-counter market. If current bid
prices are unavailable or inappropriate, the evaluation may be determined (a) on
the basis of current bid prices for comparable securities, (b) by appraising the
Securities on the bid side of the market or (c) by any combination of the above.
The value of any foreign securities is based on the applicable currency exchange
rate as of the Evaluation Time.
The right of redemption may be suspended and payment postponed for any period
during which the New York Stock Exchange is closed, other than for customary
weekend and holiday closings, or any period during which the SEC determines that
trading on that Exchange is restricted or an emergency exists, as a result of
which disposal or evaluation of the Securities is not reasonably practicable, or
for other periods as the SEC may permit.

SPECIAL REDEMPTION AND ROLLOVER. We currently intend to offer a subsequent
series of each Trust for a Rollover when the Trusts terminate. On the Mandatory
Termination Date you will have the option to (1) participate in the Rollover and
have your Units reinvested into a subsequent trust series, (2) receive an in
kind distribution of Securities (if applicable) or (3) receive a cash
distribution.

If you elect to participate in the Rollover, your Units will be redeemed on
the Mandatory Termination Date. As the redemption proceeds become available, the
proceeds (including dividends) will be invested in a new trust series at the
public offering price for the new trust. The Trustee will attempt to sell
Securities to satisfy the redemption as quickly as practicable on the Mandatory
Termination Date. We do not anticipate that the sale period will be longer than
one day, however, certain factors could affect the ability to sell the
Securities and could impact the length of the sale period. The liquidity of any
Security depends on the daily trading volume of the Security and the amount
available for redemption and reinvestment on any day.
We intend to make subsequent trust series available for sale at various times
during the year. Of course, we cannot guarantee that a subsequent trust or
sufficient units will be available or that any subsequent trusts will offer the
same investment strategies or objectives as the current Trusts. We cannot
guarantee that a Rollover will avoid any negative market price consequences
resulting from trading large volumes of securities. Market price trends may make
it advantageous to sell or buy securities more quickly or more slowly than
permitted by the Trust procedures. We may, in our sole discretion, modify a
Rollover or stop creating units of a trust at any time regardless of whether all
proceeds of Unitholders have been reinvested in a Rollover. If we decide not to
offer a subsequent series, Unitholders will be notified prior to the Mandatory
Termination Date. Cash which has not been reinvested in a Rollover will be
distributed to Unitholders shortly after the Mandatory Termination Date.
Rollover participants may receive taxable dividends or realize taxable capital
gains which are reinvested in connection with a Rollover but may not be entitled
to a deduction for capital losses due to the "wash sale" tax rules. Due to the
reinvestment in a subsequent trust, no cash will be distributed to pay any
taxes. See "Taxation".
CERTIFICATES. Ownership of Units is evidenced in book-entry form unless a
Unitholder makes a written request to the Trustee that ownership be in
certificate form. Units are transferable by making a written request to the
Trustee and, in the case of Units in certificate form, by presentation of the
certificate to the Trustee properly endorsed or accompanied by a written
instrument or instruments of transfer. A Unitholder must sign the written
request, and certificate or transfer instrument, exactly as his name appears on
the records of the Trustee and on the face of any certificate with the signature
guaranteed by a participant in the Securities Transfer Agents Medallion Program
("STAMP") or a signature guarantee program accepted by the Trustee. In certain
instances the Trustee may require additional documents such as, but not limited
to, trust instruments, certificates of death, appointments as executor or
administrator or certificates of corporate authority. Fractional certificates
will not be issued. The Trustee may require a Unitholder to pay a reasonable fee
for each certificate reissued or transferred and to pay any governmental charge
that may be imposed in connection with each transfer or interchange. Destroyed,
stolen, mutilated or lost certificates will be replaced upon delivery to the
Trustee of satisfactory indemnity, evidence of ownership and payment of expenses
incurred. Mutilated certificates must be surrendered to the Trustee for
replacement.
REPORTS PROVIDED. Unitholders will receive a statement of dividends and other
amounts received by a Trust for each distribution. Within a reasonable time
after the end of each year, each person who was a Unitholder during that year
will receive a statement describing dividends and capital received, actual Trust
distributions, Trust expenses, a list of the Securities and other Trust
information. Unitholders may obtain the Evaluator's evaluations of the
Securities upon request.

TRUST ADMINISTRATION
- --------------------------------------------------------------------------------

PORTFOLIO ADMINISTRATION. The Trusts are not managed funds and, except as
provided in the Trust Agreement, Securities generally will not be sold or
replaced. The Sponsor may, however, direct that Securities be sold in certain
limited circumstances to protect the Trust based on advice from the Supervisor.
These situations may include events such as the issuer having defaulted on
payment of any of its outstanding obligations or the price of a Security has
declined to such an extent or other credit factors exist so that in the opinion
of the Sponsor retention of the Security would be detrimental to the Trust. If a
public tender offer has been made for a Security or a merger or acquisition has
been announced affecting a Security, the Trustee may either sell the Security or
accept a tender offer for cash if the Supervisor determines that the sale or
tender is in the best interest of Unitholders. The Trustee will distribute any
cash proceeds to Unitholders. In addition, the Trustee may sell Securities to
redeem Units or pay Trust expenses or deferred sales charges. The Trustee must
reject any offer for securities or property other than cash in exchange for the
Securities. If securities or property are nonetheless acquired by a Trust, the
Sponsor may direct the Trustee to sell the securities or property and distribute
the proceeds to Unitholders or to accept the securities or property for deposit
in the Trust. Should any contract for the purchase of any of the Securities
fail, the Sponsor will (unless substantially all of the moneys held in the Trust
to cover the purchase are reinvested in substitute Securities in accordance with
the Trust Agreement) refund the cash and sales charge attributable to the failed
contract to all Unitholders on or before the next distribution date.
When your Trust sells Securities, the composition and diversity of the
Securities in the Trust may be altered. In order to obtain the best price for a
Trust, it may be necessary for the Supervisor to specify minimum amounts
(generally 100 shares) in which blocks of Securities are to be sold. In
effecting purchases and sales of a Trust's portfolio securities, the Sponsor may
direct that orders be placed with and brokerage commissions be paid to brokers,
including brokers which may be affiliated with the Trusts, the Sponsor or
dealers participating in the offering of Units. In addition, in selecting among
firms to handle a particular transaction, the Sponsor may take into account
whether the firm has sold or is selling units of unit investment trusts which it
sponsors.
Pursuant to an exemptive order, each terminating Trust is permitted to sell
Securities to a new trust series if those Securities meet the investment
strategy of the new trust. The exemption enables each Trust to eliminate
commission costs on these transactions. The price for those securities will be
the closing sale price on the sale date on the exchange where the Securities are
principally traded, as certified by the Sponsor.
AMENDMENT OF THE TRUST AGREEMENT. The Trustee and the Sponsor may amend the
Trust Agreement without the consent of Unitholders to correct any provision
which may be defective or to make other provisions that will not adversely
affect Unitholders (as determined in good faith by the Sponsor and the Trustee).
The Trust Agreement may not be amended to increase the number of Units or permit
acquisition of securities in addition to or substitution for the Securities
(except as provided in the Trust Agreement). The Trustee will notify Unitholders
of any amendment.
TERMINATION. Each Trust will terminate on the Mandatory Termination Date or
upon the sale or other disposition of the last Security held in the Trust. A
Trust may be terminated at any time with consent of Unitholders representing
two-thirds of the outstanding Units or by the Trustee when the value of the
Trust is less than $500,000 ($3,000,000 if the value of the Trust has exceeded
$15,000,000) (the "Minimum Termination Value"). Unitholders will be notified of
any termination. The Trustee may begin to sell Securities in connection with a
Trust termination nine business days before, and no later than, the Mandatory
Termination Date. Approximately thirty days before this date, the Trustee will
notify Unitholders of the termination and provide a form enabling qualified
Unitholders to elect an in kind distribution of Securities. See "Rights of
Unitholders--Redemption of Units". This form must be returned at least five
business days prior to the Mandatory Termination Date. Unitholders will receive
a final cash distribution within a reasonable time after the Mandatory
Termination Date (unless the Unitholder has elected an in kind distribution or
is a participant in the final Rollover). All distributions will be net of Trust
expenses and costs. Unitholders will receive a final distribution statement
following termination. The Information Supplement contains further information
regarding termination of the Trusts. See "Additional Information".
LIMITATIONS ON LIABILITIES. The Sponsor, Evaluator, Supervisor and Trustee
are under no liability for taking any action or for refraining from taking any
action in good faith pursuant to the Trust Agreement, or for errors in judgment,
but shall be liable only for their own willful misfeasance, bad faith or gross
negligence (negligence in the case of the Trustee) in the performance of their
duties or by reason of their reckless disregard of their obligations and duties
hereunder. The Trustee is not be liable for depreciation or loss incurred by
reason of the sale by the Trustee of any of the Securities. In the event of the
failure of the Sponsor to act under the Trust Agreement, the Trustee may act
thereunder and is not be liable for any action taken by it in good faith under
the Trust Agreement. The Trustee is not liable for any taxes or other
governmental charges imposed on the Securities, on it as Trustee under the Trust
Agreement or on a Trust which the Trustee may be required to pay under any
present or future law of the United States of America or of any other taxing
authority having jurisdiction. In addition, the Trust Agreement contains other
customary provisions limiting the liability of the Trustee. The Trustee, Sponsor
and Supervisor may rely on any evaluation furnished by the Evaluator and have no
responsibility for the accuracy thereof. Determinations by the Evaluator shall
be made in good faith upon the basis of the best information available to it.

SPONSOR. Van Kampen Funds Inc., a Delaware corporation, is the Sponsor of the
Trust. The Sponsor is an indirect subsidiary of Morgan Stanley Dean Witter & Co.
Van Kampen Funds Inc. specializes in the underwriting and distribution of unit
investment trusts and mutual funds with roots in money management dating back to
1926. The Sponsor is a member of the National Association of Securities Dealers,
Inc. and has its principal offices at 1 Parkview Plaza, P.O. Box 5555, Oakbrook
Terrace, Illinois 60181-5555, (630) 684-6000. As of November 30, 1999, the total
stockholders' equity of Van Kampen Funds Inc. was $141,554,861 (audited). The
Information Supplement contains additional information about the Sponsor.

If the Sponsor shall fail to perform any of its duties under the Trust
Agreement or become incapable of acting or shall become bankrupt or its affairs
are taken over by public authorities, then the Trustee may (i) appoint a
successor Sponsor at rates of compensation deemed by the Trustee to be
reasonable and not exceeding amounts prescribed by the Securities and Exchange
Commission, (ii) terminate the Trust Agreement and liquidate the Trusts as
provided therein or (iii) continue to act as Trustee without terminating the
Trust Agreement.
TRUSTEE. The Trustee is The Bank of New York, a trust company organized under
the laws of New York. The Bank of New York has its unit investment trust
division offices at 101 Barclay Street, New York, New York 10286 (800) 221-7668.
The Bank of New York is subject to supervision and examination by the
Superintendent of Banks of the State of New York and the Board of Governors of
the Federal Reserve System, and its deposits are insured by the Federal Deposit
Insurance Corporation to the extent permitted by law. Additional information
regarding the Trustee is set forth in the Information Supplement, including the
Trustee's qualifications and duties, its ability to resign, the effect of a
merger involving the Trustee and the Sponsor's ability to remove and replace the
Trustee. See "Additional Information".
PERFORMANCE INFORMATION. The Sponsor may from time to time in its advertising
and sales materials compare the then current estimated returns on the Trusts and
returns over specified time periods on other similar Van Kampen trusts or
investment strategies utilized by the Trusts (which may show performance net of
expenses and charges which the Trusts would have charged) with returns on other
taxable investments such as the common stocks comprising the Dow Jones
Industrial Average, the S&P 500, other investment indices, corporate or U.S.
government bonds, bank CDs, money market accounts or money market funds, or with
performance data from Lipper Analytical Services, Inc., Morningstar
Publications, Inc. or various publications, each of which has characteristics
that may differ from those of the Trusts. Information on percentage changes in
the dollar value of Units may be included from time to time in advertisements,
sales literature, reports and other information furnished to current or
prospective Unitholders. Total return figures may not be averaged and may not
reflect deduction of the sales charge, which would decrease return. No provision
is made for any income taxes payable. Past performance may not be indicative of
future results. The Trust portfolios are not managed and Unit price and return
fluctuate with the value of common stocks in the portfolios, so there may be a
gain or loss when Units are sold. As with other performance data, performance
comparisons should not be considered representative of the Trust's relative
performance for any future period.

TAXATION
- --------------------------------------------------------------------------------

GENERAL. The following is a general discussion of certain of the federal
income tax consequences of the purchase, ownership and disposition of the Units.
The summary is limited to investors who hold the Units as capital assets
(generally, property held for investment) within the meaning of Section 1221 of
the Internal Revenue Code of 1986, as amended (the "Code"). Unitholders should
consult their tax advisers in determining the federal, state, local and any
other tax consequences of the purchase, ownership and disposition of Units in a
Trust.
For purposes of the following discussion and opinions, it is assumed that
each Security is equity for federal income tax purposes. In the opinion of
Chapman and Cutler, special counsel for the Sponsor, under existing law:
1. Each Trust is not an association taxable as a corporation for federal
income tax purposes; each Unitholder will be treated as the owner of a pro rata
portion of each of the assets of a Trust under the Code; and the income of each
Trust will be treated as income of the Unitholders thereof under the Code. Each
Unitholder will be considered to have received his pro rata share of income
derived from each Security when such income is considered to be received by a
Trust.
2. A Unitholder will be considered to have received all of the dividends paid
on his pro rata portion of each Security when such dividends are considered to
be received by a Trust regardless of whether such dividends are used to pay a
portion of any deferred sales charge imposed. Unitholders will be taxed in this
manner regardless of whether distributions from a Trust are actually received by
the Unitholder or are automatically reinvested (see "Rights of
Unitholders--Reinvestment Option").
3. Each Unitholder will have a taxable event when a Trust disposes of a
Security (whether by sale, exchange, liquidation, redemption, or otherwise) or
upon the sale or redemption of Units by such Unitholder (except to the extent an
in kind distribution of stock is received by such Unitholder from a Trust as
described below). The price a Unitholder pays for his Units, generally including
sales charges, is allocated among his pro rata portion of each Security held by
a Trust (in proportion to the fair market values thereof on the valuation date
closest to the date the Unitholder purchases his Units) in order to determine
his initial tax basis for his pro rata portion of each Security held by a Trust.
Unitholders should consult their own tax advisers with regard to the calculation
of basis. For federal income tax purposes, a Unitholder's pro rata portion of
the dividends, as defined by Section 316 of the Code, paid by a corporation with
respect to a Security held by a Trust is taxable as ordinary income to the
extent of such corporation's current and accumulated "earnings and profits". A
Unitholder's pro rata portion of dividends paid on such Security which exceed
such current and accumulated earnings and profits will first reduce a
Unitholder's tax basis in such Security, and to the extent that such dividends
exceed a Unitholder's tax basis in such Security shall generally be treated as
capital gain. In general, the holding period for such capital gain will be
determined by the period of time a Unitholder has held his Units.
4. A Unitholder's portion of gain, if any, upon the sale or redemption of
Units or the disposition of Securities held by a Trust will generally be
considered a capital gain (except in the case of a dealer or a financial
institution). A Unitholder's portion of loss, if any, upon the sale or
redemption of Units or the disposition of Securities held by a Trust will
generally be considered a capital loss (except in the case of a dealer or a
financial institution). In particular, a Rollover Unitholder should be aware
that a Rollover Unitholder's loss, if any, incurred in connection with the
exchange of Units for units in the next new series of the Trusts (the "New
Fund") will generally be disallowed with respect to the disposition of any
Securities pursuant to such exchange to the extent that such Unitholder is
considered the owner of substantially identical securities under the wash sale
provisions of the Code taking into account such Unitholder's deemed ownership of
the securities underlying the Units in the New Fund in the manner described
above, if such substantially identical securities were acquired within a period
beginning 30 days before and ending 30 days after such disposition. However, any
gains incurred in connection with such an exchange by a Rollover Unitholder
would be recognized. Unitholders should consult their tax advisers regarding the
recognition of gains and losses for federal income tax purposes.
DEFERRED SALES CHARGE. Generally, the tax basis of a Unitholder includes
sales charges, and such charges are not deductible. A portion of the sales
charge for the Trusts is deferred. The income (or proceeds from redemption) a
Unitholder must take into account for federal income tax purposes is not reduced
by amounts deducted to pay the deferred sales charge. Unitholders should consult
their own tax advisers as to the income tax consequences of any deferred sales
charge imposed.
DIVIDENDS RECEIVED DEDUCTION. A corporation that owns Units will generally be
entitled to a 70% dividends received deduction with respect to such Unitholder's
pro rata portion of dividends received by a Trust (to the extent such dividends
are taxable as ordinary income, as discussed above, and are attributable to
domestic corporations) in the same manner as if such corporation directly owned
the Securities paying such dividends (other than corporate Unitholders, such as
"S" corporations, which are not eligible for the deduction because of their
special characteristics and other than for purposes of special taxes such as the
accumulated earnings tax and the personal holding corporation tax). However, a
corporation owning Units should be aware that Sections 246 and 246A of the Code
impose additional limitations on the eligibility of dividends for the 70%
dividends received deduction. These limitations include a requirement that stock
(and therefore Units) must generally be held at least 46 days (as determined
under Section 246(c) of the Code). Final regulations have been issued which
address special rules that must be considered in determining whether the 46 day
holding period requirement is met. Moreover, the allowable percentage of the
deduction will be reduced from 70% if a corporate Unitholder owns certain stock
(or Units) the financing of which is directly attributable to indebtedness
incurred by such corporation. Unitholders should consult with their tax advisers
with respect to the limitations on and possible modifications to the dividends
received deduction.
To the extent dividends received by a Trust are attributable to foreign
corporations, a corporation that owns Units will not be entitled to the
dividends received deduction with respect to its pro rata portion of such
dividends, since the dividends received deduction is generally available only
with respect to dividends paid by domestic corporations.
LIMITATIONS ON DEDUCTIBILITY OF TRUST EXPENSES BY UNITHOLDERS. Each
Unitholder's pro rata share of each expense paid by a Trust is deductible by the
Unitholder to the same extent as though the expense had been paid directly by
him. It should be noted that as a result of the Tax Reform Act of 1986, certain
miscellaneous itemized deductions, such as investment expenses, tax return
preparation fees and employee business expenses will be deductible by an
individual only to the extent they exceed 2% of such individual's adjusted gross
income. Unitholders may be required to treat some or all of the expenses of a
Trust as miscellaneous itemized deductions subject to this limitation.
RECOGNITION OF TAXABLE GAIN OR LOSS UPON DISPOSITION OF SECURITIES BY A TRUST
OR DISPOSITION OF UNITS. As discussed above, a Unitholder may recognize taxable
gain (or loss) when a Security is disposed of by a Trust or if the Unitholder
disposes of a Unit (although losses incurred by Rollover Unitholders may be
subject to disallowance, as discussed above). The Internal Revenue Service
Restructuring and Reform Act of 1998 (the "1998 Tax Act") provides that for
taxpayers other than corporations, net capital gain (which is defined as net
long-term capital gain over net short-term capital loss for the taxable year)
realized from property (with certain exclusions) is subject to a maximum
marginal stated tax rate of 20% (10% in the case of certain taxpayers in the
lowest tax bracket). Capital gain or loss is long-term if the holding period for
the asset is more than one year, and is short-term if the holding period for the
asset is one year or less. The date on which a Unit is acquired (i.e., the
"trade date") is excluded for purposes of determining the holding period of the
Unit. Capital gains realized from assets held for one year or less are taxed at
the same rates as ordinary income.
In addition, please note that capital gains may be recharacterized as
ordinary income in the case of certain financial transactions that are
considered "conversion transactions" effective for transactions entered into
after April 30, 1993. Unitholders and prospective investors should consult with
their tax advisers regarding the potential effect of this provision on their
investment in Units.
If a Unitholder disposes of a Unit he is deemed thereby to have disposed of
his entire pro rata interest in all assets of the Trust involved including his
pro rata portion of all Securities represented by a Unit.
The Taxpayer Relief Act of 1997 (the "1997 Tax Act") includes provisions that
treat certain transactions designed to reduce or eliminate risk of loss and
opportunities for gain (e.g., short sales, offsetting national principal
contracts, futures or forward contracts, or similar transactions) as
constructive sales for purposes of recognition of gain (but not loss) and for
purposes of determining the holding period. Unitholders should consult their own
tax advisers with regard to any such constructive sales rules.

SPECIAL TAX CONSEQUENCES OF IN KIND DISTRIBUTIONS UPON REDEMPTION OF UNITS OR
TERMINATION OF A TRUST. As discussed in "Rights of Unitholders--Redemption of
Units," under certain circumstances a Unitholder tendering Units for redemption
may request an in kind distribution of certain Securities in a Trust. A
Unitholder may also under certain circumstances request an in kind distribution
of certain Securities in a Trust upon the termination of such Trust. A
Unitholder will receive cash representing his pro rata portion of the foreign
Securities in a Trust. See "Rights of Unitholders--Redemption of Units". The
Unitholder requesting an in kind distribution will be liable for expenses
related thereto (the "Distribution Expenses") and the amount of such in kind
distribution will be reduced by the amount of the Distribution Expenses. See
"Rights of Unitholders--Redemption of Units". As previously discussed, prior to
the redemption of Units or the termination of a Trust, a Unitholder is
considered as owning a pro rata portion of each of such Trust's assets for
federal income tax purposes. The receipt of an in kind distribution will result
in a Unitholder receiving whole shares of stock plus, possibly, cash.

The potential tax consequences that may occur under an in kind distribution
with respect to each Security owned by a Trust will depend on whether or not a
Unitholder receives cash in addition to Securities. A "Security" for this
purpose is a particular class of stock issued by a particular corporation. A
Unitholder will not recognize gain or loss if a Unitholder only receives
Securities in exchange for his or her pro rata portion in the Securities held by
a Trust. However, if a Unitholder also receives cash in exchange for a
fractional share of a Security or for a foreign Security held by a Trust, such
Unitholder will generally recognize gain or loss based upon the difference
between the amount of cash received by the Unitholder and his tax basis in such
fractional share of a Security or such foreign Security held by such Trust.
Because each Trust will own many Securities, a Unitholder who requests an in
kind distribution will have to analyze the tax consequences with respect to each
Security owned by such Trust. The amount of taxable gain (or loss) recognized
upon such exchange will generally equal the sum of the gain (or loss) recognized
under the rules described above by such Unitholder with respect to each Security
owned by such Trust. Unitholders who request an in kind distribution are advised
to consult their tax advisers in this regard.
ROLLOVER UNITHOLDERS. As discussed in "Rights of Unitholders--Special
Redemption and Rollover," a Unitholder may elect to become a Rollover
Unitholder. To the extent a Rollover Unitholder exchanges his Units for Units of
the New Fund in a taxable transaction, such Unitholder will recognize gains, if
any, but generally will not be entitled to a deduction for any losses recognized
upon the disposition of any Securities pursuant to such exchange to the extent
that such Unitholder is considered the owner of substantially identical
securities under the wash sale provisions of the Code taking into account such
Unitholder's deemed ownership of the securities underlying the Units in the New
Fund in the manner described above, if such substantially identical securities
were acquired within a period beginning 30 days before and ending 30 days after
such disposition under the wash sale provisions contained in Section 1091 of the
Code. In the event a loss is disallowed under the wash sale provisions, special
rules contained in Section 1091(d) of the Code apply to determine the
Unitholder's tax basis in the securities acquired. Rollover Unitholders are
advised to consult their tax advisers.

COMPUTATION OF THE UNITHOLDER'S TAX BASIS. Initially, a Unitholder's tax
basis in his Units will generally equal the price paid by such Unitholder for
his Units. The cost of the Units is allocated among the Securities held in a
Trust in accordance with the proportion of the fair market values of such
Securities on the valuation date nearest the date the Units are purchased in
order to determine such Unitholder's tax basis for his pro rata portion of each
Security.

A Unitholder's tax basis in his Units and his pro rata portion of a Security
held by a Trust will be reduced to the extent dividends paid with respect to
such Security are received by the Trust which are not taxable as ordinary income
as described above.
OTHER MATTERS. Each Unitholder will be requested to provide the Unitholder's
taxpayer identification number to the Trustee and to certify that the Unitholder
has not been notified that payments to the Unitholder are subject to back-up
withholding. If the proper taxpayer identification number and appropriate
certification are not provided when requested, distributions by a Trust to such
Unitholder (including amounts received upon the redemption of Units) will be
subject to back-up withholding. Distributions by a Trust (other than those that
are not treated as United States source income, if any) will generally be
subject to United States income taxation and withholding in the case of Units
held by non-resident alien individuals, foreign corporations or other non-United
States persons. Such persons should consult their tax advisers.
In general, income that is not effectively connected to the conduct of a
trade or business within the United States that is earned by non-U.S.
Unitholders and derived from dividends of foreign corporations will not be
subject to U.S. withholding tax provided that less than 25 percent of the gross
income of the foreign corporation for a three-year period ending with the close
of its taxable year preceding payment was effectively connected to the conduct
of a trade or business within the United States. In addition, such earnings may
be exempt from U.S. withholding pursuant to a specific treaty between the United
States and a foreign country. Non-U.S. Unitholders should consult their own tax
advisers regarding the imposition of U.S. withholding on distributions from a
Trust.
It should be noted that payments to the Trusts of dividends on Securities
that are attributable to foreign corporations may be subject to foreign
withholding taxes and Unitholders should consult their tax advisers regarding
the potential tax consequences relating to the payment of any such withholding
taxes by the Trusts. Any dividends withheld as a result thereof will
nevertheless be treated as income to the Unitholders. Because, under the grantor
trust rules, an investor is deemed to have paid directly his share of foreign
taxes that have been paid or accrued, if any, an investor may be entitled to a
foreign tax credit or deduction for United States tax purposes with respect to
such taxes. The 1997 Tax Act imposes a required holding period for such credits.
Investors should consult their tax advisers with respect to foreign withholding
taxes and foreign tax credits.
At the termination of a Trust, the Trustee will furnish to each Unitholder of
such Trust a statement containing information relating to the dividends received
by such Trust on the Securities, the gross proceeds received by such Trust from
the disposition of any Security (resulting from redemption or the sale of any
Security), and the fees and expenses paid by such Trust. The Trustee will also
furnish annual information returns to Unitholders and to the Internal Revenue
Service.
Unitholders desiring to purchase Units for tax-deferred plans and IRAs should
consult their broker-dealers for details on establishing such accounts. Units
may also be purchased by persons who already have self-directed plans
established.
In the opinion of special counsel to the Fund for New York tax matters, each
Trust is not an association taxable as a corporation and the income of the
Trusts will be treated as the income of the Unitholders under the existing
income tax laws of the State and City of New York.
The foregoing discussion relates only to the tax treatment of U.S.
Unitholders ("U.S. Unitholders") with regard to federal and certain aspects of
New York State and City income taxes. Unitholders may be subject to taxation in
New York or in other jurisdictions and should consult their own tax advisers in
this regard. As used herein, the term "U.S. Unitholder" means an owner of a Unit
in one of the Trusts that (a) is (i) for United States federal income tax
purposes a citizen or resident of the United States, (ii) a corporation,
partnership or other entity created or organized in or under the laws of the
United States or of any political subdivision thereof, or (iii) an estate or
trust the income of which is subject to United States federal income taxation
regardless of its source or (b) does not qualify as a U.S. Unitholder in
paragraph (a) but whose income from a Unit is effectively connected with such
Unitholder's conduct of a United States trade or business. The term also
includes certain former citizens of the United States whose income and gain on
the Units will be taxable. Unitholders should consult their tax advisers
regarding potential foreign, state or local taxation with respect to the Units.

TRUST OPERATING EXPENSES
- --------------------------------------------------------------------------------

COMPENSATION OF SPONSOR, SUPERVISOR AND EVALUATOR. The Sponsor will not
receive any fees in connection with its activities relating to the Trusts.
However, the Supervisor and Evaluator, which are affiliates of the Sponsor, will
receive the annual fee for portfolio supervisory and evaluation services set
forth in the "Fee Table". These fees may exceed the actual costs of providing
these services to the Trusts but at no time will the total amount received for
supervisory and evaluation services rendered to all Van Kampen unit investment
trusts in any calendar year exceed the aggregate cost of providing these
services in that year.
TRUSTEE'S FEE. For its services the Trustee will receive the fee from each
Trust set forth in the "Fee Table" (which includes the estimated amount of
miscellaneous Trust expenses). The Trustee benefits to the extent there are
funds in the Capital and Income Accounts since these Accounts are non-interest
bearing to Unitholders and the amounts earned by the Trustee are retained by the
Trustee. Part of the Trustee's compensation for its services to each Trust is
expected to result from the use of these funds.

MISCELLANEOUS EXPENSES. The following additional charges are or may be
incurred by a Trust: (a) normal expenses (including the cost of mailing reports
to Unitholders) incurred in connection with the operation of such Trust, (b)
fees of the Trustee for extraordinary services, (c) expenses of the Trustee
(including legal and auditing expenses) and of counsel designated by the
Sponsor, (d) various governmental charges, (e) expenses and costs of any action
taken by the Trustee to protect a Trust and the rights and interests of
Unitholders, (f) indemnification of the Trustee for any loss, liability or
expenses incurred in the administration of a Trust without negligence, bad faith
or wilful misconduct on its part, (g) foreign custodial and transaction fees,
(h) costs associated with liquidating the securities held in a Trust portfolio,
(i) any offering costs incurred after the end of the initial offering period and
(j) expenditures incurred in contacting Unitholders upon termination of a Trust.
The DowSM Strategic 10, The DowSM Strategic 5 and The Dow 5SM & Tech Strategic
Trusts will also pay a license fee to Dow Jones & Company, Inc. for use of
certain service marks of Dow Jones & Company, Inc. The NasdaqSM Strategic 10
Trust will pay a license fee to the Nasdaq Stock Market, Inc. for use of certain
service marks and to Prudential Securities, Inc. for use of its proprietary
investment strategy used to select the Trust portfolio. The NasdaqSM Strategic
10 Trust selection process is proprietary and is the subject of a pending United
States patent application under license to Van Kampen Funds Inc. and the Trust.

GENERAL. The expenses of a Trust will accrue on a daily basis. The deferred
sales charge, fees and expenses are generally paid out of the Capital Account of
the related Trust. When these amounts are paid by or owing to the Trustee, they
are secured by a lien on the related Trust's portfolio. It is expected that
Securities will be sold to pay these amounts which will result in capital gains
or losses to Unitholders. See "Taxation". The Supervisor's, Evaluator's and
Trustee's fees may be increased without approval of the Unitholders by amounts
not exceeding proportionate increases under the category "All Services Less Rent
of Shelter" in the Consumer Price Index or, if this category is not published,
in a comparable category.

OTHER MATTERS
- --------------------------------------------------------------------------------

LEGAL OPINIONS. The legality of the Units offered hereby has been passed upon
by Chapman and Cutler, 111 West Monroe Street, Chicago, Illinois 60603, as
counsel for the Sponsor. Winston & Strawn has acted as counsel to the Trustee
and as special counsel for New York tax matters.
INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS. The statements of condition and the
related portfolios included in this Prospectus have been audited by Grant
Thornton LLP, independent certified public accountants, as set forth in their
report in this Prospectus, and are included herein in reliance upon the
authority of said firm as experts in accounting and auditing.

ADDITIONAL INFORMATION
- --------------------------------------------------------------------------------

This Prospectus does not contain all the information set forth in the
Registration Statement filed by the Trust with the SEC. The Information
Supplement, which has been filed with the SEC, includes more detailed
information concerning the Securities, investment risks and general information
about the Trust. Information about your Trust (including the Information
Supplement) can be reviewed and copied at the SEC's Public Reference Room in
Washington, D.C. You may obtain information about the Public Reference Room by
calling 1-202-942-8090. Reports and other information about your Trust are
available on the EDGAR Database on the SEC's Internet site at
http://www.sec.gov. Copies of this information may be obtained, after paying a
duplication fee, by electronic request at the following e-mail address:
[email protected] or by writing the SEC's Public Reference Section, Washington,
D.C. 20549-0102.

TABLE OF CONTENTS
- --------------------------------------------------------------------------------

TITLE PAGE
----- ----
Summary of Essential Financial Information.. 2
Fee Table................................... 3
The DowSM Strategic 10 Trust................ 4
The DowSM Strategic 5 Trust................. 6
The Dow 5SM & Tech Strategic Trust.......... 8
NasdaqSM Strategic 10 Trust................. 10
Strategic Picks Opportunity Trust........... 12
EAFESMStrategic 20 Trust.................... 14
Notes to Hypothetical Performance Tables.... 16
Notes to Portfolios......................... 16
The Securities.............................. 17
Report of Independent Certified
Public Accountants....................... 18
Statements of Condition .................... 19
The Trusts.................................. A-1
Objectives and Securities Selection......... A-1
Risk Factors................................ A-2
Public Offering............................. A-4
Retirement Accounts......................... A-9
Wrap Fee and Advisory Accounts.............. A-9
Rights of Unitholders....................... A-9
Trust Administration........................ A-12
Taxation.................................... A-14
Trust Operating Expenses.................... A-18
Other Matters............................... A-19
Additional Information...................... A-19

- --------------
When Units of the Trusts are no longer available this prospectus may be used as
a preliminary prospectus for a future Trust. If this prospectus is used for
future Trusts you should note the following:

The information in this prospectus is not complete with respect to future Trust
series and may be changed. No person may sell Units of future Trusts until a
registration statement is filed with the Securities and Exchange Commission and
is effective. This prospectus is not an offer to sell Units and is not
soliciting an offer to buy Units in any state where the offer or sale is not
permitted.

EMSPRO226

#36651

#36657

PROSPECTUS
- --------------------------------------------------------------------------------

MAY 9, 2000

VAN KAMPEN
FOCUS PORTFOLIOS(SM)
A DIVISION OF VAN KAMPEN FUNDS INC.

THE DOWSM STRATEGIC 10 TRUST,
MAY 2000 SERIES

THE DOWSM STRATEGIC 5 TRUST,
MAY 2000 SERIES

THE DOW 5SM & TECH STRATEGIC TRUST,
MAY 2000 SERIES

NASDAQSM STRATEGIC 10 TRUST,
MAY 2000 SERIES

STRATEGIC PICKS OPPORTUNITY TRUST,
MAY 2000 SERIES

EAFESM STRATEGIC 20 TRUST,
MAY 2000 SERIES

VAN KAMPEN FUNDS INC.

1 Parkview Plaza
P.O.Box 5555
Oakbrook Terrace, Illinois 60181-5555

Please retain this prospectus for future reference

Van Kampen
Information Supplement
Van Kampen Focus Portfolios, Series 226

- --------------------------------------------------------------------------------

This Information Supplement provides additional information concerning the
risks and operations of the Trust which is not described in the Prospectus. You
should read this Information Supplement in conjunction with the Prospectus. This
Information Supplement is not a prospectus. It does not include all of the
information that you should consider before investing in a Trust. This
Information Supplement may not be used to offer or sell Units without the
Prospectus. You can obtain copies of the Prospectus by contacting the Sponsor at
1 Parkview Plaza, P.O. Box 5555, Oakbrook Terrace, Illinois 60181-5555 or by
contacting your broker. This Information Supplement is dated as of the date of
the Prospectus. All capitalized terms have been defined in the Prospectus.

Table of Contents

Page
Risk Factors 2
The Trust Strategies 5
The Indexes 7
Sponsor Information 11
Trustee Information 11
Trust Termination 12

RISK FACTORS
Price Volatility. Because the Trusts invest in stocks of U.S. and foreign
companies, you should understand the risks of investing in common stocks before
purchasing Units. These risks include the risk that the financial condition of
the company or the general condition of the stock market may worsen and the
value of the stocks (and therefore Units) will fall. Stocks are especially
susceptible to general stock market movements. The value of common stocks often
rises or falls rapidly and unpredictably as market confidence and perceptions of
companies change. These perceptions are based on factors including expectations
regarding government economic policies, inflation, interest rates, economic
expansion or contraction, political climates and economic or banking crises. The
value of Units will fluctuate with the value of the stocks in a Trust and may be
more or less than the price you originally paid for your Units. As with any
investment, we cannot guarantee that the performance of a Trust will be positive
over any period of time. Because the Trusts are unmanaged, the Trustee will not
sell stocks in response to market fluctuations as is common in managed
investments. In addition, because some Trusts hold a relatively small number of
stocks, you may encounter greater market risk than in a more diversified
investment.
Dividends. Stocks represent ownership interests in a company and are not
obligations of the company. Common stockholders have a right to receive payments
from the company that is subordinate to the rights of creditors, bondholders or
preferred stockholders of the company. This means that common stockholders have
a right to receive dividends only if a company's board of directors declares a
dividend and the company has provided for payment of all of its creditors,
bondholders and preferred stockholders. If a company issues additional debt
securities or preferred stock, the owners of these securities will have a claim
against the company's assets before common stockholders if the company declares
bankruptcy or liquidates its assets even though the common stock was issued
first. As a result, the company may be less willing or able to declare or pay
dividends on its common stock.
Foreign Stocks. Because certain Trusts invest in foreign stocks, these
Trusts involve additional risks that differ from an investment in domestic
stocks. Investments in foreign securities may involve a greater degree of risk
than those in domestic securities. There is generally less publicly available
information about foreign companies in the form of reports and ratings similar
to those that are published about issuers in the United States. Also, foreign
issuers are generally not subject to uniform accounting, auditing and financial
reporting requirements comparable to those applicable to United States issuers.
With respect to certain foreign countries, there is the possibility of adverse
changes in investment or exchange control regulations, expropriation,
nationalization or confiscatory taxation, limitations on the removal of funds or
other assets of a Trust, political or social instability, or diplomatic
developments which could affect United States investments in those countries.
Moreover, industrial foreign economies may differ favorably or unfavorably from
the United States' economy in terms of growth of gross national product, rate of
inflation, capital reinvestment, resource self-sufficiency and balance of
payments position. Foreign securities markets are generally not as developed or
efficient as those in the United States. While growing in volume, they usually
have substantially less volume than the New York Stock Exchange, and securities
of some foreign issuers are less liquid and more volatile than securities of
comparable United States issuers. Fixed commissions on foreign exchanges are
generally higher than negotiated commissions on United States exchanges. There
is generally less government supervision and regulation of securities exchanges,
brokers and listed issuers than in the United States.
Foreign Currencies. Certain Trusts also involve the risk that fluctuations
in exchange rates between the U.S. dollar and foreign currencies may negatively
affect the value of the stocks. For example, if a foreign stock rose 10% in
price but the U.S. dollar gained 5% against the related foreign currency, a U.S.
investor's return would be reduced to about 5%. This is because the foreign
currency would "buy" fewer dollars or, conversely, a dollar would buy more of
the foreign currency. Many foreign currencies have fluctuated widely against the
U.S. dollar for a variety of reasons such as supply and demand of the currency,
investor perceptions of world or country economies, political instability,
currency speculation by institutional investors, changes in government policies,
buying and selling of currencies by central banks of countries, trade balances
and changes in interest rates. A Trust's foreign currency transactions will be
conducted with foreign exchange dealers acting as principals on a spot (i.e.,
cash) buying basis. These dealers realize a profit based on the difference
between the price at which they buy the currency (bid price) and the price at
which they sell the currency (offer price). The Evaluator will estimate the
currency exchange rates based on current activity in the related currency
exchange markets, however, due to the volatility of the markets and other
factors, the estimated rates may not be indicative of the rate a Trust might
obtain had the Trustee sold the currency in the market at that time.

Technology Issuers. Certain Trusts invest significantly in issuers within the
technology industry. A portfolio concentrated in a single industry may present
more risk than a portfolio broadly diversified over several industries. The
Trust, and therefore Unitholders, may be particularly susceptible to a negative
impact resulting from adverse market conditions or other factors affecting
technology issuers because any negative impact on the technology industry will
not be diversified among issuers within other unrelated industries. Accordingly,
an investment in Units should be made with an understanding of the
characteristics of the technology industry and the risks which such an
investment may entail.
Technology companies generally include companies involved in the development,
design, manufacture and sale of computers, computer related equipment, computer
networks, communications systems, telecommunications products, electronic
products, and other related products, systems and services. The market for
technology products and services, especially those specifically related to the
Internet, is characterized by rapidly changing technology, rapid product
obsolescence, cyclical market patterns, evolving industry standards and frequent
new product introductions. The success of the issuers of the Securities depends
in substantial part on the timely and successful introduction of new products.
An unexpected change in one or more of the technologies affecting an issuer's
products or in the market for products based on a particular technology could
have a material adverse affect on an issuer's operating results. Furthermore,
there can be no assurance that the issuers of the Securities will be able to
respond timely to compete in the rapidly developing marketplace.
The market for certain technology products and services may have only
recently begun to develop, is rapidly evolving and is characterized by an
increasing number of market entrants. Additionally, certain technology companies
may have only recently commenced operations or offered equity securities to the
public. Such companies are in the early stage of development and have a limited
operating history on which to analyze future operating results. It is important
to note that following its initial public offering a security is likely to
experience substantial stock price volatility and speculative trading.
Accordingly, there can be no assurance that upon redemption of Units or
termination of a Trust a Unitholder will receive an amount greater than or equal
to the Unitholder's initial investment.
Based on trading history, factors such as announcements of new products or
development of new technologies and general conditions of the industry have
caused and are likely to cause the market price of technology common stocks to
fluctuate substantially. In addition, technology company stocks have experienced
extreme price and volume fluctuations that often have been unrelated to the
operating performance of such companies. This market volatility may adversely
affect the market price of the Securities and therefore the ability of a
Unitholder to redeem units, or roll over Units into a new trust, at a price
equal to or greater than the original price paid for such Units.
Some key components of certain products of technology issuers are currently
available only from single sources. There can be no assurance that in the future
suppliers will be able to meet the demand for components in a timely and cost
effective manner. Accordingly, an issuer's operating results and customer
relationships could be adversely affected by either an increase in price for, or
and interruption or reduction in supply of, any key components. Additionally,
many technology issuers are characterized by a highly concentrated customer base
consisting of a limited number of large customers who may require product
vendors to comply with rigorous and constantly developing industry standards.
Any failure to comply with such standards may result in a significant loss or
reduction of sales. Because many products and technologies are incorporated into
other related products, certain companies are often highly dependent on the
performance of other computer, electronics and communications companies. There
can be no assurance that these customers will place additional orders, or that
an issuer of Securities will obtain orders of similar magnitude as past orders
form other customers. Similarly, the success of certain companies is tied to a
relatively small concentration of products or technologies with intense
competition between companies. Accordingly, a decline in demand of such
products, technologies or from such customers could have a material adverse
impact on issuers of the Securities.

Consumer Product and Retail Issuers. Certain Trusts may invest significantly
in issuers that manufacture or sell consumer products. The profitability of
these companies will be affected by various factors including the general state
of the economy and consumer spending trends. In the past, there have been major
changes in the retail environment due to the declaration of bankruptcy by some
of the major corporations involved in the retail industry, particularly the
department store segment. The continued viability of the retail industry will
depend on the industry's ability to adapt and to compete in changing economic
and social conditions, to attract and retain capable management, and to finance
expansion. Weakness in the banking or real estate industry, a recessionary
economic climate with the consequent slowdown in employment growth, less
favorable trends in unemployment or a marked deceleration in real disposable
personal income growth could result in significant pressure on both consumer
wealth and consumer confidence, adversely affecting consumer spending habits. In
addition, competitiveness of the retail industry will require large capital
outlays for investment in the installation of automated checkout equipment to
control inventory, to track the sale of individual items and to gauge the
success of sales campaigns. Increasing employee and retiree benefit costs may
also have an adverse effect on the industry. In many sectors of the retail
industry, competition may be fierce due to market saturation, converging
consumer tastes and other factors. Because of these factors and the recent
increase in trade opportunities with other countries, American retailers are now
entering global markets which entail added risks such as sudden weakening of
foreign economies, difficulty in adapting to local conditions and constraints
and added research costs.
Litigation. Philip Morris Companies, Inc. common stock may represent a
signigicant portfion of the value of the Dow Strategic 10 and Dow Strategic 5
Trusts. Pending or threatened legal proceedings against Philip Morris cover a
wide range of matters including product liability and consumer protection.
Damages claimed in many of the smoking and health cases alleging personal injury
(both individual and class actions), and in health cost recovery cases brought
by governments, unions and similar entities (the most recent suit was filed by
the Justice Department on September 22, 1999) seeking reimbursement for
healthcare expenditures, aggregate many billions of dollars.
On November 23, 1998, Philip Morris entered into a Master Settlement
Agreement with 46 state governments to settle the asserted and unasserted
healthcare cost recovery and certain other claims against them. The Agreement is
subject to final judicial approval in each of the settling states. As part of
the Agreement, Philip Morris and the three other major domestic tobacco
manufacturers have agreed to participate in the establishment of a $5.15 billion
trust fund. The trust is to be funded over 12 years beginning in 1999. PM Inc.
has agreed to pay $300 million into the trust in 1999. Philip Morris charged
approximately $3.1 billion as a pretax expense in 1998 as a result of the
settlement, and as of December 31, 1998, had accrued costs of its obligations
under the settlement and to tobacco growers aggregating $1.4 billion, payable
principally before the end of the year 2000. Philip Morris believes the
agreement will likely materially adversely affect the business, volume, cash
flows and/or operating income and financial position of the company in future
years. The degree of the adverse impact will depend, among other things, on the
rates of decline in United States cigarette sales in the premium and discount
segments, the company's share of the domestic premium and discount cigarette
segments, and the effect of any resulting cost advantage of manufacturers not
subject to the agreement.

Microsoft Corporation is currently engaged in litigation with Sun
Microsystems, Inc., the U.S. Department of Justice, several state Attorneys
General. The complaints against Microsoft include, copyright infringement,
unfair competition, and antitrust violations. The claims seek injunctive relief
and monetary damages. In the action brought against Microsoft by the U.S.
Department of Justice, the United States District Court for the District of
Columbia issued findings of fact that included a finding that Microsoft
possesses and exercised monopoly power. The court also recently entered an order
finding that Microsoft exercised this power in violation of the Sherman
Antitrust Act and various state antitrust laws. The next step in the litigation
will be for the court to determine the penalties against Microsoft. The possible
remedies that could potentially be considered by the court, according to
industry experts, range from a possible breakup of Microsoft to remedies such as
ordering the company to surrender its blueprint, or "source code," for its
Windows operating software. Microsoft has stated that it will appeal this ruling
following the penalties phase and final decree. It is possible that any remedy
could have a material adverse impact on Microsoft, however, it is impossible to
predict the impact that any penalty may have on Microsoft's business in the
future.

No one can predict the outcome of the litigation pending against this company
or how the current uncertainty concerning regulatory and legislative measures
will ultimately be resolved. No one can predict the impact that these and other
possible developments will have on the price of this stock or any Trust.
Liquidity. Whether or not the stocks in a Trust are listed on a stock
exchange, the stocks may delist from the exchange or principally trade in an
over-the-counter market. As a result, the existence of a liquid trading market
could depend on whether dealers will make a market in the stocks. We cannot
guarantee that dealers will maintain a market or that any market will be liquid.
The value of the stocks could fall if trading markets are limited or absent.
Additional Units. The Sponsor may create additional Units of a Trust by
depositing into the Trust additional stocks or cash with instructions to
purchase additional stocks. A cash deposit could result in a dilution of your
investment and anticipated income because of fluctuations in the price of the
stocks between the time of the deposit and the purchase of the stocks and
because the Trust will pay brokerage fees.
Voting. Only the Trustee may sell or vote the stocks in a Trust. While you
may sell or redeem your Units, you may not sell or vote the stocks in your
Trust. The Sponsor will instruct the Trustee how to vote the stocks. The Trustee
will vote the stocks in the same general proportion as shares held by other
shareholders if the Sponsor fails to provide instructions.

THE TRUST STRATEGIES
In seeking the Trusts' objectives, the Sponsor considered the ability of
the Securities to outpace inflation. While inflation is currently relatively
low, the United States has historically experienced periods of double-digit
inflation. While the prices of securities will fluctuate, over time securities
have outperformed the rate of inflation, and other less risky investments, such
as government bonds and U.S. Treasury bills. Past performance is, however, no
guarantee of future results.
The companies represented in the Trusts are some of the most well-known and
highly capitalized companies in the world. The Trusts seek to achieve better
performances than the related indexes through similar investment strategies.
Investment in a number of companies having high dividends relative to their
stock prices (usually because their stock prices are undervalued) is designed to
increase each Trust's potential for higher returns. There is, of course, no
assurance that a Trust (which includes expenses and sales charges) will achieve
its objective.
Certain of the Trusts may be suitable for investors who seek to diversify
their equity holdings with investments in foreign equity securities. Today's
international market offers many opportunities. While the U.S. stock market has
generally performed well in the past, international markets may provide
significant opportunities as well. Global diversification may offer the
potential to enhance overall portfolio performance. In addition, investors may
be able to achieve a better risk/return potential by allocating an investment
among a domestic investment and an international investment. For example, rather
than investing exclusively in the Strategic Picks Trust strategy, the Standard &
Poor's 500 Index stocks or in the EAFE Strategic 20 Trust strategy, an investor
may be able to achieve a better combination of potential return and potential
risk by investing 70% in the Strategic Picks Trust strategy or Standard & Poor's
500 Index stocks and 30% in the EAFE Strategic 20 Trust strategy. International
markets can experience different performances and while some markets may be
experiencing rapid growth, others may be in temporary decline. These market
movements may offer attractive growth potential and possible portfolio
diversification for investors seeking to add to their existing equity portfolio.
Certain of the Trusts seek to combine the growth potential of undervalued stocks
with the strength of stocks listed on a foreign stock market index. Typically,
companies listed on a major market index are widely recognized, firmly
established and financially strong. Therefore, when undervalued, these stocks
may provide investors with significant growth opportunities.
Corporate restructuring, acquisitions and the use of technology may enhance
the ability of foreign companies to increase their potential profitability.
Progress of the European Monetary Union efforts to create a unified currency
could potentially add to European growth rates. In addition, if the U.S. dollar
does not remain as strong as in the recent past, foreign stocks may benefit and
foreign stocks may be relatively attractive from a valuation standpoint compared
to U.S. stock prices. Of course, an investment in foreign securities involves
risks, certain of which differ from an investment in U.S. stocks. See "Risk
Factors".
In particular, the Sponsor believes that the Trusts holding foreign stocks
may offer investors an attractive opportunity to diversify their portfolio with
an international component. First, markets have tended to be cyclical in
performance and at certain times U.S. stocks have outperformed foreign stocks
while foreign stocks have outperformed U.S. stocks over other periods. Second,
the U.S. stock market has been among the top five developed markets in terms of
total returns from 1989 through 1998 only four times and was never the top
performing market in these years (as measured by the MSCI USA Index and other
MSCI country indexes in developed market countries). Third, while
diversification of investments cannot eliminate the risk of loss, an investor
may be able to reduce overall portfolio risk by diversifying into international
investments since approximately 60% of the world's market capitalization exists
outside the U.S. Finally, over the last 10 years the stocks in Standard & Poor's
500 Index have collectively shown a total return that is greater than the
25-year average total return 6 times while the stocks in the MSCI EAFESM Index
have collectively outperformed the 25-year average total return only twice in
the last 10 years. Although it is impossible to predict the future of stocks
markets, the MSCI EAFESM Index stocks at some time are likely to return to the
average in the future.
It should be noted that the foregoing yield comparisons do not take into
account any expenses or sales commissions which would arise from an investment
in Units of the Trusts. The Trusts seek to achieve better performances than the
related indexes through similar investment strategies. Investment in a number of
companies having high dividends relative to their stock prices (usually because
their stock prices are undervalued) is designed to increase each Trust's
potential for higher returns. There is, of course, no assurance that a Trust
(which includes expenses and sales charges) will achieve its objective. The
investment strategies utilized by the Trusts are designed to be implemented on
an annual basis. Investors who hold Units through Trust termination may have
investment results that differ significantly from a Unit investment that is
reinvested into a new trust each year.
Investors should note that the above criteria were applied to the
Securities for inclusion in the Trusts as of three business days prior to the
Initial Date of Deposit. Subsequent to this date, the Securities may no longer
be included in an index, may not be providing one of the ten highest dividend
yields within these indexes or may not have one of the 2nd through 6th lowest
per share prices within the relevant index. Should a Security no longer be
included in these indexes or meet the criteria used for selection for a Trust,
such Security will not as a result thereof be removed from a Trust portfolio.

THE INDEXES
The Dow Jones Industrial Average. The Dow Jones Industrial Average ("DJIA")
was first published in The Wall Street Journal in 1896. Initially consisting of
just 12 stocks, the DJIA expanded to 20 stocks in 1916 and its present size of
30 stocks on October 1, 1928. The following is the list as it currently appears:

Alcoa, Inc.
Allied Signal
American Express Company
AT&T Corporation
Boeing Company
Caterpillar, Inc.
Citigroup, Inc.
Coca-Cola Company
Eastman Kodak Company
E.I. du Pont de Nemours & Company
Exxon Corporation
General Electric Company
General Motors Corporation
Hewlett-Packard Company
Home Depot Inc.
Intel Corporation
International Business Machines Corporation
International Paper Company
J.P. Morgan & Company, Inc.
Johnson & Johnson
McDonald's Corporation
Merck & Company, Inc.
Microsoft Corporation
Minnesota Mining & Manufacturing Company
Philip Morris Companies, Inc.
Procter & Gamble Company
SBC Communications Inc.
United Technologies Corporation
Wal-Mart Stores, Inc.
Walt Disney Company

"Dow JonesSM", "Dow Jones Industrial AverageSM", "The Dow 5SM", "The Dow
10SM", "The Dow 30SM", "The DowSM", and "DJIASM" are proprietary to and service
marks of Dow Jones & Company, Inc. and have been licensed for use for certain
purposes by the Trusts. The Trusts are not sponsored, endorsed, sold or promoted
by Dow Jones and Dow Jones makes no representation regarding the avisability of
investing in any Trust.

The Nasdaq-100 Index. The Nasdaq-100 Index is composed of 100 of the
largest non-financial Nasdaq National Market common stocks. Nasdaq is also one
of the first fully electronic stock markets in the world. This modem-day
securities market began operations in 1971 and today lists more companies than
any other market in the U.S. The Nasdaq Stock Market, Inc. has established
procedures for, and controls over, substitutions of securities and may
periodically, at its discretion, make changes in component stocks so that the
Index will more accurately reflect the overall composition of the non-financial
sector of The Nasdaq Stock Market. Eligibility criteria for the Nasdaq-100 Index
includes a minimum average daily trading volume of 100,000 shares. Generally,
companies also must have seasoned on Nasdaq or another major exchange, which
means they have been listed for a minimum of two years. If a security would
otherwise qualify to be in the top 25% of the issuers included in the Index by
market capitalization, then a one-year seasoning criteria would apply. If the
security is a foreign security, the company must have a world wide market value
of at least $10 billion, a U.S. market value of at least $4 billion, and average
trading volume of at least 200,000 shares per day. In addition, foreign
securities must be eligible for listed-options trading.
The Sponsor has entered into a license agreement with The Nasdaq Stock
Market, Inc. (the "License Agreement"), under which the NasdaqSM Strategic 10
Trust (through the Sponsor) is granted licenses to use the trademark and
tradenames "Nasdaq," "Nasdaq-100," and "Nasdaq-100 Index" solely in materials
relating to the creation and issuance, marketing and promotion of the Trust and
in accordance with any applicable federal and state securities law to indicate
the source of the Nasdaq-100 Index as a basis for determining the composition of
the Trust's portfolio. As consideration for the grant of the license, the Trust
will pay to The Nasdaq Stock Market, Inc., an annual fee.
Neither the Trust nor the Unitholders are entitled to any rights whatsoever
under the foregoing licensing arrangements or to use any of the covered
trademarks or to use the Nasdaq-100 Index, except as specifically described
herein or as may be specified in the Trust Agreement.
The Trust is not sponsored, endorsed, sold or promoted by The Nasdaq Stock
Market, Inc. (including its affiliates) (the "Corporations"). The Corporations
have not passed on the legality or suitability of, or the accuracy or adequacy
of descriptions and disclosures relating to, the Trust or Units of the Trust.
The Corporations make no representation or warranty, express or implied to the
owners of Units of the Trust or any member of the public regarding the
advisability of investing in securities generally or in Units of the Trust
particularly or the ability of the Nasdaq-100 Index to track general stock
market performance. The Corporations' only relationship to the Sponsor
("Licensee") and the Trust is in the licensing of certain trademarks, service
marks, and trade names of the Corporations and the use of the Nasdaq-100 Index
which is determined, composed and calculated by Nasdaq without regard to the
Licensee, the Trust or Unitholders of the Trust. Nasdaq has no obligation to
take the needs of the Licensee or the owners of the Trust into consideration in
determining, composing or calculating the Nasdaq-100 Index. The Corporations are
not responsible for and have not participated in the determination of the timing
of, prices at, or quantities of the Units of the Trust to be issued or in the
determination or calculation of the equation by which the Units of the Trust are
to be converted into cash. The Corporations have no liability in connection with
the administration or operations of the Trust, marketing or trading of Units of
the Trust.
THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED
CALCULATION OF THE NASDAQ-100 INDEX OR ANY DATA INCLUDED THEREIN. THE
CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED
BY LICENSEE, OWNERS OF UNITS OF THE NASDAQ-100 TRUST, OR ANY OTHER PERSON OR
ENTITY FROM THE USE OF THE NASDAQ-100 INDEX OR ANY DATA INCLUDED THEREIN. THE
CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH
RESPECT TO THE NASDAQ-100 INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING
ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR
ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST
PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

The MSCI Indexes. While the MSCI index methodology has evolved to capture the
growth of the investment universe, the index philosophy has never been
compromised to simplify the complicated process of investing: MSCI indices are
based on detailed analysis to make it easier for the investor to measure
international performance. Constituents are selected for a country index through
the following process: (1) Define the "Market"; (2) Capture 60% of the market
capitalization of the country across all industry groups; (3) Select the most
liquid securities within each industry; (4) Select stocks with sufficient free
float; (5) Avoid cross-ownership; and (6) Apply full market capitalization
weights.
The initial research for the MSCI Indices covers the full breadth of the
global equity securities market. Country specialists track the evolution of both
listed and unlisted shares of domestically listed companies in nearly every
country in the world. Based in Geneva, these country teams collect share,
pricing, ownership, float and liquidity data for effectively all companies
worldwide. Sources for this information are local stock exchanges and brokerage
firms, newspapers, and company contacts. From this master matrix, the total
country market capitalization is adjusted for double-counting and non-domiciled
companies. All of the companies within this research coverage are eligible for
inclusion in the MSCI indices except non-domiciled companies, investment trusts
and mutual funds.
Once the total country market capitalization is analyzed, 60% of the
capitalization of each industry group and thus 60% of the entire market is
targeted for each MSCI index. This ensures that the index reflects the industry
characteristics of the overall market, and permits the construction of accurate
regional and global industry indices. Research coverage in MSCI products and
publications extends beyond the index coverage (60%) to capture 80% of the
market for each country. This coverage includes daily performance as well as
monthly valuation ratios and summarized financial statement data. When selecting
the constituents of an index, the most effective industry classification is
used--either the local convention or the MSCI schema of 38 industry groups--in
order to mirror the industry characteristics of the local market. Once the
selection process is complete, the index constituents are re-classified into the
MSCI schema of 38 industries and 8 economic sectors in order to facilitate
cross-country comparisons. The MSCI classification schema has been adopted by
Reuters for their industry classification. Securities are selected to represent
an industry based on size and the portion of earnings and revenues attributable
to that industry group. Even within an industry the goal is to represent the
full diversity of business segments. An industry representation may exceed the
60% target because one or two large companies dominate an industry. Similarly,
an industry may fall below the 80% level under conventional analysis because its
companies lack good liquidity and float, or because of extensive
cross-ownership.
A goal of the MSCI index construction process is to select the most liquid
stocks within each industry group, all other things being equal, since liquidity
is necessary but not the sole determinant for inclusion in the index. Liquidity
is monitored by monthly average trading value over time in order to determine
normal levels of volume, excluding temporary peaks and troughs. A stock's
liquidity is significant not only in absolute terms, but also relative to its
market capitalization and to average liquidity for the country as a whole.
Float is monitored for every security in the market, and low float (a small
percentage of shares freely tradable) may exclude a stock from consideration in
the index. But float can be difficult to determine: in some markets good sources
are generally not available; in other markets, information on smaller and less
prominent issues can be subject to error and time lags. Government ownership and
cross-ownership positions can change over time and are not always made public.
Float also tends to be defined differently depending on the source. Thus,
evaluations of float run the risk of penalizing those markets that have good
disclosure, regardless of the actual degree of availability of shares. As with
liquidity, sufficient float is an important consideration, not an inflexible
rule.
Cross-ownership occurs when one company has a significant ownership in
another company in the same country. In situations where cross-ownership is
substantial, including both companies in an index can skew industry weights,
distort country-level valuations (such as country price-earnings and price-book
value ratios) and overstate a country's true market size. An integral part of
the country research function is identifying cross ownerships in order to avoid
or minimize them. Country specialists in Geneva do much of the cross-ownership
identification through researching company reports, local newspapers and stock
exchange data.
All standard MSCI indices are weighted by each company's full market
capitalization (both listed and unlisted shares). This approach has the
significant advantage of objectivity--the number of shares outstanding for a
company is a constituent figure for companies around the world and is easily
agreed upon and obtainable. Full market capitalization weighting is favored to
other weighting schemes for both theoretical and practical reasons: (a) it is
impossible to judge whether a position which is currently in firm hands might be
available in the future; (b) the quality and timeliness of information on float
varies from market to market and adjustments penalize those markets with the
highest standards of disclosure; (c) the most serious consequence of float
limitations is limited liquidity which can be monitored objectively; much effort
is spent in researching and monitoring these factors when selecting constituents
for each country index but once a security is selected, it is included in the
index at its full market value. A growing number of very sizable companies have
been brought or are expected to be brought to the market with modest initial
tranches being publicly available. At the same time, the obvious relevance of
these companies instantly positions them among the core investment opportunities
in their market. In order to allow the MSCI indices to capture this new market
trend, in very exceptional cases, a company may be included at a portion of its
total market capitalization.
Morgan Stanley Capital International. Recognized as a world leader in global
financial research, Morgan Stanley monitors more than 4,500 companies in 51
countries, representing 80% of the total market value of the world's stock
markets. The Morgan Stanley Capital International ("MSCI") databases are used as
a benchmark by more than 90% of the investment community. With hundreds of
analysts located across the globe, MSCI provides comprehensive research and
in-depth knowledge about general markets and specific companies around the
world.
Since 1968, MSCI global indices have presented an array of investment
opportunities available to the international investor, including indices such as
the MSCI USA Index and the MSCI EAFESM Index. These indices seek to represent an
accurate normal portfolio. In addition, index valuation ratios and company-level
fundamental data provide tools for the international investor. MSCI believes
that local stock exchange indices are not comparable with one another due to
differences in the representation of the local market, mathematical formulas,
methods of adjusting for capital changes, and base dates. The same criteria and
calculation methodology are applied across all MSCI indices. Further, while
accounting standards continue to differ according to local customs and
practices, fundamental data is analyzed and presented in a uniform and
meaningful manner in MSCI indices--allowing investors to compare investment
opportunities across markets. Each MSCI country index is constructed so as to
minimize double counting, assuring that all industry groups are proportionately
represented, and that each country's contribution to the global or regional
index is accurately based on its market capitalization.
In 1986, Morgan Stanley acquired the indices and data from Capital
International Perspective, S.A. ("CIPSA") based in Geneva, Switzerland. CIPSA
has been researching and publishing international indices since 1969 and
continues to be solely responsible for the decisions regarding constituent
additions and deletions as well as any other methodological modifications to the
indices. Morgan Stanley contributes its expertise in technology and the
marketing and distribution of the MSCI Indices and publications. Selection of
the constituents for MSCI Indices is conducted independent of the Sponsor which
has no input regarding the components of any index.
The MSCI Indices are the exclusive property of Morgan Stanley. Morgan Stanley
Capital International is a service mark of Morgan Stanley and has been licensed
for use by Van Kampen Funds Inc.
This fund is not sponsored, endorsed, sold or promoted by Morgan Stanley.
Morgan Stanley makes no representation or warranty, express or implied, to the
owners of this fund or any member of the public regarding the advisability of
investing in funds generally or in this fund particularly or the ability of the
MSCI Indices to track general stock market performance. Morgan Stanley is the
licensor of certain trademarks, service marks and trade names of Morgan Stanley
and of the MSCI Indices which are determined, composed and calculated by Morgan
Stanley without regard to the issuer of this fund or this fund. Morgan Stanley
has no obligation to take the needs of the issuer of this fund or the owners of
this fund into consideration in determining, composing or calculating the MSCI
Indices. Morgan Stanley is not responsible for and has not participated in the
determination of the timing of, prices at, or quantities of this fund to be
issued or in the determination or calculation of the equation by which Units of
this fund is redeemable for cash. Morgan Stanley has no obligation or liability
to owners of this fund in connection with the administration, marketing or
trading of this fund.
ALTHOUGH MORGAN STANLEY SHALL OBTAIN INFORMATION FOR INCLUSION IN OR FOR USE
IN THE CALCULATION OF AN INDEX FROM SOURCES WHICH MORGAN STANLEY CONSIDERS
RELIABLE, NEITHER MORGAN STANLEY NOR ANY OTHER PARTY GUARANTEES THE ACCURACY
AND/OR THE COMPLETENESS OF AN INDEX OR ANY DATA INCLUDED THEREIN. NEITHER MORGAN
STANLEY NOR ANY OTHER PARTY MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO
RESULTS TO BE OBTAINED BY LICENSEE, LICENSEE'S CUSTOMERS AND COUNTERPARTIES,
OWNERS OF THE FUND, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF AN INDEX OR
ANY DATA INCLUDED THEREIN IN CONNECTION WITH THE RIGHTS LICENSED HEREUNDER OR
FOR ANY OTHER USE. NEITHER MORGAN STANLEY NOR ANY OTHER PARTY MAKES ANY EXPRESS
OR IMPLIED WARRANTIES, AND MORGAN STANLEY HEREBY EXPRESSLY DISCLAIMS ALL
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT
TO AN INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING,
IN NO EVENT SHALL MORGAN STANLEY OR ANY OTHER PARTY HAVE ANY LIABILITY FOR ANY
DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES
(INCLUDING LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

SPONSOR INFORMATION
Van Kampen Funds Inc., a Delaware corporation, is the Sponsor of your
Portfolio. The Sponsor is an indirect subsidiary of Van Kampen Investments Inc.
Van Kampen Investments Inc. is a wholly owned subsidiary of MSAM Holdings II,
Inc., which in turn is a wholly owned subsidiary of Morgan Stanley Dean Witter &
Co.

Morgan Stanley Dean Witter & Co., together with various of its directly and
indirectly owned subsidiaries, is engaged in a wide range of financial services
through three primary businesses: securities, asset management and credit
services. These principal businesses include securities underwriting,
distribution and trading; merger, acquisition, restructuring and other corporate
finance advisory activities; merchant banking; stock brokerage and research
services; credit services; asset management; trading of futures, options,
foreign exchange commodities and swaps (involving foreign exchange, commodities,
indices and interest rates); and real estate advice, financing and investing.
Van Kampen Funds Inc. specializes in the underwriting and distribution of
unit investment trusts and mutual funds with roots in money management dating
back to 1926. The Sponsor is a member of the National Association of Securities
Dealers, Inc. and has its principal offices at 1 Parkview Plaza, P.O. Box 5555,
Oakbrook Terrace, Illinois 60181-5555, (630) 684-6000. As of November 30, 1999,
the total stockholders' equity of Van Kampen Funds Inc. was $141,554,861
(audited). (This paragraph relates only to the Sponsor and not to the Trust or
to any other Series thereof. The information is included herein only for the
purpose of informing investors as to the financial responsibility of the Sponsor
and its ability to carry out its contractual obligations. More detailed
financial information will be made available by the Sponsor upon request.)
As of March 31, 2000, the Sponsor and its Van Kampen affiliates managed or
supervised more than $100 billion of investment products. The Sponsor and its
Van Kampen affiliates managed $84.2 billion of assets for more than 63 open-end
mutual funds, 39 closed-end funds and more than 2,700 unit trusts as of March
31, 2000. All of Van Kampen's open-end funds, closed-ended funds and unit
investment trusts are professionally distributed by leading financial firms
nationwide. Since 1976, the Sponsor has serviced over two million investor
accounts, opened through retail distribution firms.

TRUSTEE INFORMATION
The Trustee is The Bank of New York, a trust company organized under the
laws of New York. The Bank of New York has its unit investment trust division
offices at 101 Barclay Street, New York, New York 10286 (800) 221-7668. The Bank
of New York is subject to supervision and examination by the Superintendent of
Banks of the State of New York and the Board of Governors of the Federal Reserve
System, and its deposits are insured by the Federal Deposit Insurance
Corporation to the extent permitted by law.

The duties of the Trustee are primarily ministerial in nature. It did not
participate in the selection of Securities for the Trust portfolios.

In accordance with the Trust Agreement, the Trustee shall keep proper books
of record and account of all transactions at its office for each Trust. Such
records shall include the name and address of, and the number of Units of each
Trust held by, every Unitholder. Such books and records shall be open to
inspection by any Unitholder at all reasonable times during the usual business
hours. The Trustee shall make such annual or other reports as may from time to
time be required under any applicable state or federal statute, rule or
regulation. The Trustee is required to keep a certified copy or duplicate
original of the Trust Agreement on file in its office available for inspection
at all reasonable times during the usual business hours by any Unitholder,
together with a current list of the Securities held in each Trust.

Under the Trust Agreement, the Trustee or any successor trustee may resign
and be discharged of its responsibilities created by the Trust Agreement by
executing an instrument in writing and filing the same with the Sponsor. The
Trustee or successor trustee must mail a copy of the notice of resignation to
all Unitholders then of record, not less than 60 days before the date specified
in such notice when such resignation is to take effect. The Sponsor upon
receiving notice of such resignation is obligated to appoint a successor trustee
promptly. If, upon such resignation, no successor trustee has been appointed and
has accepted the appointment within 30 days after notification, the retiring
Trustee may apply to a court of competent jurisdiction for the appointment of a
successor. The Sponsor may remove the Trustee and appoint a successor trustee as
provided in the Trust Agreement at any time with or without cause. Notice of
such removal and appointment shall be mailed to each Unitholder by the Sponsor.
Upon execution of a written acceptance of such appointment by such successor
trustee, all the rights, powers, duties and obligations of the original trustee
shall vest in the successor. The resignation or removal of a Trustee becomes
effective only when the successor trustee accepts its appointment as such or
when a court of competent jurisdiction appoints a successor trustee.
Any corporation into which a Trustee may be merged or with which it may be
consolidated, or any corporation resulting from any merger or consolidation to
which a Trustee shall be a party, shall be the successor trustee. The Trustee
must be a banking corporation organized under the laws of the United States or
any state and having at all times an aggregate capital, surplus and undivided
profits of not less than $5,000,000.

TRUST TERMINATION
A Trust may be liquidated at any time by consent of Unitholders
representing 66 2/3% of the Units of such Trust then outstanding or by the
Trustee when the value of the Securities owned by a Trust, as shown by any
evaluation, is less than $500,000 ($3,000,000 if the value of the Trust has
exceeded $15,000,000). A Trust will be liquidated by the Trustee in the event
that a sufficient number of Units of such Trust not yet sold are tendered for
redemption by the Sponsor, so that the net worth of such Trust would be reduced
to less than 40% of the value of the Securities at the time they were deposited
in such Trust. If a Trust is liquidated because of the redemption of unsold
Units by the Sponsor, the Sponsor will refund to each purchaser of Units the
entire sales charge paid by such purchaser. The Trust Agreement will terminate
upon the sale or other disposition of the last Security held thereunder, but in
no event will it continue beyond the Mandatory Termination Date.
Commencing during the period beginning nine business days prior to, and no
later than, the Mandatory Termination Date, Securities will begin to be sold in
connection with the termination of the Trusts. The Sponsor will determine the
manner, timing and execution of the sales of the Securities. The Sponsor shall
direct the liquidation of the Securities in such manner as to effectuate orderly
sales and a minimal market impact. In the event the Sponsor does not so direct,
the Securities shall be sold within a reasonable period and in such manner as
the Trustee, in its sole discretion, shall determine. At least 30 days before
the Mandatory Termination Date the Trustee will provide written notice of any
termination to all Unitholders of the appropriate Trust and in the case of a
Trust will include with such notice a form to enable Unitholders owning 1,000 or
more Units to request an in kind distribution of the U.S.-traded Securities. To
be effective, this request must be returned to the Trustee at least five
business days prior to the Mandatory Termination Date. On the Mandatory
Termination Date (or on the previous business day if a holiday) the Trustee will
deliver each requesting Unitholder's pro rata number of whole shares of the
U.S.-traded Securities in a Trust to the account of the broker-dealer or bank
designated by the Unitholder at Depository Trust Company. A Unitholder electing
an in kind distribution will not receive a distribution of shares of the foreign
exchange-traded Securities but will instead receive cash representing his pro
rata portion of such Securities. The value of the Unitholder's fractional shares
of the Securities will be paid in cash. Unitholders with less than 1,000 Units,
Unitholders in a Trust with 1,000 or more Units not requesting an in kind
distribution and Unitholders who do not elect the Rollover Option will receive a
cash distribution from the sale of the remaining Securities within a reasonable
time following the Mandatory Termination Date. Regardless of the distribution
involved, the Trustee will deduct from the funds of the appropriate Trust any
accrued costs, expenses, advances or indemnities provided by the Trust
Agreement, including estimated compensation of the Trustee, costs of liquidation
and any amounts required as a reserve to provide for payment of any applicable
taxes or other governmental charges. Any sale of Securities in a Trust upon
termination may result in a lower amount than might otherwise be realized if
such sale were not required at such time. The Trustee will then distribute to
each Unitholder of each Trust his pro rata share of the balance of the Income
and Capital Accounts of such Trust.
The Sponsor currently intends to, but is not obligated to, offer for sale
units of a subsequent series of the Trusts pursuant to the Rollover Option.
There is, however, no assurance that units of any new series of the Trusts will
be offered for sale at that time, or if offered, that there will be sufficient
units available for sale to meet the requests of any or all Unitholders.
Within 60 days of the final distribution Unitholders will be furnished a
final distribution statement of the amount distributable. At such time as the
Trustee in its sole discretion will determine that any amounts held in reserve
are no longer necessary, it will make distribution thereof to Unitholders in the
same manner.

CONTENTS OF REGISTRATION STATEMENT

This Amendment No. 1 of Registration Statement comprises the following papers
and documents:

The facing sheet
The Prospectus
The signatures
The consents of independent public accountants and legal counsel

The following exhibits:

1.1 Copy of Trust Agreement.

3.1 Opinion and consent of counsel as to legality of securities being
registered.

3.2 Opinion of counsel as to the Federal income tax status of
securities being registered.

3.3 Opinion and consent of counsel as to New York tax status of
securities being registered.

4.1 Consent of Interactive Data Corporation

4.2 Consent of Independent Certified Public Accountants.

SIGNATURES

The Registrant, Van Kampen Focus Portfolios, Series 226 hereby
identifies Van Kampen Merritt Equity Opportunity Trust, Series 1, Series 2,
Series 4 and Series 7 and Van Kampen American Capital Equity Opportunity Trust,
Series 13, Series 14, Series 57 and Series 89 for purposes of the
representations required by Rule 487 and represents the following: (1) that the
portfolio securities deposited in the series as to the securities of which this
Registration Statement is being filed do not differ materially in type or
quality from those deposited in such previous series; (2) that, except to the
extent necessary to identify the specific portfolio securities deposited in, and
to provide essential financial information for, the series with respect to the
securities of which this Registration Statement is being filed, this
Registration Statement does not contain disclosures that differ in any material
respect from those contained in the registration statements for such previous
series as to which the effective date was determined by the Commission or the
staff; and (3) that it has complied with Rule 460 under the Securities Act of
1933.

Pursuant to the requirements of the Securities Act of 1933, the
Registrant, Van Kampen Focus Portfolios, Series 226 has duly caused this
Amendment No. 1 to the Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Chicago and State of
Illinois on the 9th day of May, 2000.

Van Kampen Focus Portfolios, Series 226
By Van Kampen Funds Inc.

By Christine K. Putong
-----------------------------------------
Assistant Vice President

Pursuant to the requirements of the Securities Act of 1933, this
Amendment No. 1 to the Registration Statement has been signed below on May 9,
2000 by the following persons who constitute a majority of the Board of
Directors of Van Kampen Funds Inc.

SIGNATURE TITLE

Richard F. Powers III Chairman and Chief Executive )

Officer )

John H. Zimmerman III President and Chief Operating )

Officer )

William R. Rybak Executive Vice President and )
Chief Financial Officer )

A. Thomas Smith III Executive Vice President, )
General Counsel and Secretary )

Michael H. Santo Executive Vice President )

Christine K. Putong
------------------------------------
(Attorney-in-fact*)

- --------------------------------------------------------------------------------
*An executed copy of each of the related powers of attorney is filed herewith or
was filed with the Securities and Exchange Commission in connection with the
Registration Statement on Form S-6 of Van Kampen Focus Portfolios, Series 136
(File No. 333-70897) and the same are hereby incorporated herein by this
reference.

EXHIBIT 1.1

VAN KAMPEN FOCUS PORTFOLIOS
SERIES 226
TRUST AGREEMENT

Dated: May 9, 2000

This Trust Agreement among Van Kampen Funds Inc., as Depositor,
American Portfolio Evaluation Services, a division of Van Kampen Investment
Advisory Corp., as Evaluator, Van Kampen Investment Advisory Corp., as
Supervisory Servicer, and The Bank of New York, as Trustee, sets forth certain
provisions in full and incorporates other provisions by reference to the
document entitled "Van Kampen American Capital Equity Opportunity Trust, Series
87 and Subsequent Series, Standard Terms and Conditions of Trust, Effective
January 27, 1998" (herein called the "Standard Terms and Conditions of Trust")
and such provisions as are set forth in full and such provisions as are
incorporated by reference constitute a single instrument. All references herein
to Articles and Sections are to Articles and Sections of the Standard Terms and
Conditions of Trust.

WITNESSETH THAT:

In consideration of the premises and of the mutual agreements herein
contained, the Depositor, Evaluator, Supervisory Servicer and Trustee agree as
follows:

PART I
STANDARD TERMS AND CONDITIONS OF TRUST

Subject to the provisions of Part II hereof, all the provisions
contained in the Standard Terms and Conditions of Trust are herein incorporated
by reference in their entirety and shall be deemed to be a part of this
instrument as fully and to the same extent as though said provisions had been
set forth in full in this instrument.

PART II
SPECIAL TERMS AND CONDITIONS OF TRUST

The following special terms and conditions are hereby agreed to:

1. The Securities defined in Section 1.01(24), listed in the Schedule
hereto, have been deposited in trust under this Trust Agreement.

2. The fractional undivided interest in and ownership of each Trust
represented by each Unit is an amount the numerator of which is one and the
denominator of which is the amount set forth under "Summary of Essential
Financial Information - Initial Number of Units" in the Prospectus. Such
fractional undivided interest may be (a) increased by the number of any
additional Units issued pursuant to Section 2.03, (b) increased or decreased in
connection with an adjustment to the number of Units pursuant to Section 2.03,
or (c) decreased by the number of Units redeemed pursuant to Section 5.02.

3. The terms "Capital Account Record Date" and "Income Account Record
Date" shall mean the "Record Dates" set forth under "Summary of Essential
Financial Information" in the Prospectus.

4. The terms "Capital Account Distribution Date" and "Income Account
Distribution Date" shall mean the "Distribution Dates" set forth under "Summary
of Essential Financial Information" in the Prospectus.

5. The term "Mandatory Termination Date" shall mean the "Mandatory
Termination Date" set forth under "Summary of Essential Financial
Information" in the Prospectus.

6. The term "Rollover Notification Date" shall mean approximately one
month prior to the "Mandatory Termination Date" set forth under "Summary of
Essential Financial Information" in the Prospectus.

7. The term "Special Redemption Date" shall mean the "Mandatory
Termination Date" set forth under "Summary of Essential Financial Information"
in the Prospectus.

8. Section 6.01(e) is hereby replaced with the following:

(e) (1) Subject to the provisions of subparagraph (2) of
this paragraph, the Trustee may employ agents, sub-custodians,
attorneys, accountants and auditors and shall not be answerable
for the default or misconduct of any such agents, sub-custodians,
attorneys, accountants or auditors if such agents,
sub-custodians, attorneys, accountants or auditors shall have
been selected with reasonable care. The Trustee shall be fully
protected in respect of any action under this Indenture taken or
suffered in good faith by the Trustee in accordance with the
opinion of counsel, which may be counsel to the Depositor
acceptable to the Trustee, provided, however that this disclaimer
of liability shall not excuse the Trustee from the
responsibilities specified in subparagraph (2) below. The fees
and expenses charged by such agents, sub-custodians, attorneys,
accountants or auditors shall constitute an expense of the Trust
reimbursable from the Income and Capital Accounts of the affected
Trust as set forth in section 6.04 hereof.

(2) The Trustee may place and maintain in the care of an
Eligible Foreign Custodian (which is employed by the Trustee as a
sub-custodian as contemplated by subparagraph (1) of this
paragraph (e) and which may be an affiliate or subsidiary of the
Trustee or any other entity in which the Trustee may have an
ownership interest) any investments (including foreign
currencies) for which the primary market is outside the United
States, and such cash and cash equivalents in amounts reasonably
necessary to effect the Trust's transactions in such investments,
provided that:

(a) The Trustee shall perform all duties assigned to
the Foreign Custody Manager by Rule 17f-5 under the
Investment Company Act of 1940 (17 CFR ss. 270.17f-5) ("Rule
17f-5"), as now in effect or as such rule may be amended in
the future. The Trustee shall not delegate such duties.

(b) The Trustee shall exercise reasonable care,
prudence and diligence such as a person having
responsibility for the safekeeping of Trust assets would
exercise, and shall be liable to the Trust for any loss
occurring as a result of its failure to do so.

(c) The Trustee shall indemnify the Trust and hold the
Trust harmless from and against any risk of loss of Trust
assets held in accordance with the foreign custody contract.

(d) The Trustee shall maintain and keep current written
records regarding the basis for the choice or continued use
of a particular Eligible Foreign Custodian pursuant to this
subparagraph for a period of not less than six years from
the end of the fiscal year in which the Trust was
terminated, the first two years in an easily accessible
place. Such records shall be available for inspection by
Unitholders and the Securities and Exchange Commission at
the Trustee's offices at all reasonable times during its
usual business hours.

(3) "Eligible Foreign Custodian" shall have the meaning
assigned to it in Rule 17f-5.

(4) "Foreign Custody Manager" shall have the meaning
assigned to it in Rule 17f-5.

9. Section 1.01 (1), (3) and (4) shall be replaced in their entirety by
the following:

(1) "Depositor" shall mean Van Kampen Funds Inc. and its
successors in interest, or any successor depositor appointed as
hereinafter provided.

(3) "Evaluator" shall mean American Portfolio Evaluation
Services (a division of an Van Kampen Investment Advisory Corp.)
and its successors in interest, or any successor evaluator
appointed as hereinafter provided.

(4) "Supervisory Servicer" shall mean Van Kampen Investment
Advisory Corp. and its successors in interest, or any successor
portfolio supervisor as hereinafter provided.

10. Notwithstanding anything to the contrary in the Standard Terms and
Conditions of Trust and subject to the requirements set forth in this paragraph,
unless the Prospectus otherwise requires, the Sponsor may, on any Business Day
(the "Trade Date"), subscribe for additional Units as follows:

(a) Prior to the Evaluation Time on such Business Day, the
Sponsor shall provide notice (the "Subscription Notice") to the
Trustee, by telephone or by written communication, of the
Sponsor's intention to subscribe for additional Units. The
Subscription Notice shall identify the additional Securities to
be acquired (unless such additional Securities are a precise
replication of the then existing portfolio) and shall either (i)
specify the quantity of additional Securities to be deposited by
the Sponsor on the settlement date for such subscription or (ii)
instruct the Trustee to purchase additional Securities with an
aggregate value as specified in the Subscription Notice.

(b) Promptly following the Evaluation Time on such Business
Day, the Sponsor shall verify with the Trustee the number of
additional Units to be created.

(c) Not later than the time on the settlement date for such
subscription when the Trustee is to deliver or assign the
additional Units created hereby, the Sponsor shall deposit with
the Trustee (i) any additional Securities specified in the
Subscription Notice (or contracts to purchase such additional
Securities together with cash or a letter of credit in the amount
necessary to settle such contracts) or (ii) cash or a letter of
credit in an amount equal to the aggregate value of the
additional Securities specified in the Subscription Notice, and
adding and subtracting the amounts specified in the first and
second sentences of Section 5.01, computed as of the Evaluation
Time on the Business Day preceding the Trade Date divided by the
number of Units outstanding as of the Evaluation Time on the
Business Day preceding the Trade Date, times the number of
additional Units to be created.

(d) On the settlement date for such subscription, the
Trustee shall, in exchange for the Securities and cash or letter
of credit described above, deliver to, or assign in the name of
or on the order of, the Sponsor the number of Units verified by
the Sponsor with the Trustee.

11. Section 3.15 of the Standard Terms and Conditions of Trust is
hereby replaced in its entirety by the following:

Section 3.15. Deferred Sales Charge. If the Prospectus
related to the Trust specifies a deferred sale charge, the
Trustee shall, on each Deferred Sales Charge Payment Date and as
permitted by such Prospectus, withdraw from the Capital Account
an amount per Unit equal to the Deferred Sales Charge Payment and
credit such amount to a special non-Trust account maintained at
the Trustee out of which the deferred sales charge will be
distributed to the Depositor. If the balance in the Capital
Account is insufficient to make any such withdrawal, the Trustee
shall, as directed by the Depositor, either advance funds in an
amount equal to the proposed withdrawal and be entitled to
reimbursement of such advance upon the deposit of additional
moneys in the Capital Account, sell Securities and credit the
proceeds thereof to such special Depositor's account or credit
(if permitted by law) Securities in kind to such special
Depositor's Account. If a Unitholder redeems Units prior to full
payment of the deferred sales charge, the Trustee shall, if so
provided in the related Prospectus, on the Redemption Date,
withhold from the Redemption Price payable to such Unitholder an
amount equal to the unpaid portion of the deferred sales charge
and distribute such amount to such special Depositor's Account.
The Depositor may at any time instruct the Trustee in writing to
distribute to the Depositor cash or Securities previously
credited to the special Depositor's account. Amounts to be
credited to the special Depositor's account with respect to each
Deferred Sales Charge Payment are due and payable to the
Depositor on the related Deferred Sales Charge Payment Date.

The term "Deferred Sales Charge Payment Dates" shall mean
September 10, 2000 and the 10th day of each month thereafter
through January 10, 2001. If any Deferred Sales Charge Payment
Date is not a Business Day, that Deferred Sales Charge Payment
Date shall be deemed to be the next Business Day. The term
"Deferred Sales Charge Payment" shall mean a fraction of the
total maximum deferred sales charge specified in the Prospectus,
the numerator of which is one and the denominator of which is
equal to the total number of Deferred Sales Charge Payment Dates.

12. Section 3.07(a) of the Standard Terms and Conditions of Trust is
hereby amended by adding the following Section 3.07(a)(x) immediately after
Section 3.07(a)(ix):

"(x) that there has been a public tender offer made for a
Security or a merger or acquisition is announced affecting a
Security, and that in the opinion of the Supervisory Servicer the
sale or tender of the Security is in the best interest of the
Unitholders."

13. Sections 4.01(b) and (c) of the Standard Terms and Conditions of
Trust are hereby replaced in their entirety by the following:

(b) During the initial offering period such Evaluation shall
be made in the following manner: if the Securities are listed on
a national or foreign securities exchange or traded on the Nasdaq
Stock Market, Inc., such Evaluation shall generally be based on
the last available closing sale price on or immediately prior to
the Evaluation Time on the exchange or market which is the
principal market therefor, which shall be deemed to be the New
York Stock Exchange if the Securities are listed thereon (unless
the Evaluator deems such price inappropriate as a basis for
evaluation) or, if there is no such available closing sale price
on such exchange or market at the last available asked price of
the Equity Securities. If the Securities are not listed such an
exchange or traded on the Nasdaq Stock Market, Inc. or, if so
listed and the principal market therefor is other than on such
exchange or market, or there is no such available sale price on
such exchange or market, such Evaluation shall generally be based
on the following methods or any combination thereof whichever the
Evaluator deems appropriate: (i) in the case of Equity
Securities, on the basis of the current asked price on the
over-the-counter market (unless the Evaluator deems such price
inappropriate as a basis for evaluation), (ii) on the basis of
current offering prices for the Zero Coupon Obligations as
obtained from investment dealers or brokers who customarily deal
in securities comparable to those held by the Fund, (iii) if
offering prices are not available for the Zero Coupon Obligations
or the Equity Securities, on the basis of offering or asked price
for comparable securities, (iv) by determining the valuation of
the Zero Coupon Obligations or the Equity Securities on the
offering or asked side of the market by appraisal or (v) by any
combination of the above. If the Trust holds Securities
denominated in a currency other than U.S. dollars, the Evaluation
of such Security shall be converted to U.S. dollars based on
current offering side exchange rates (unless the Evaluator deems
such prices inappropriate as a basis for valuation). The
Evaluator may add to the Evaluation of each Security which is
principally traded outside of the United States the amount of any
commissions and relevant taxes associated with the acquisition of
the Security. As used herein, the closing sale price is deemed to
mean the most recent closing sale price on the relevant
securities exchange immediately prior to the Evaluation time. For
each Evaluation, the Evaluator shall also confirm and furnish to
the Trustee and the Depositor, on the basis of the information
furnished to the Evaluator by the Trustee as to the value of all
Trust assets other than Securities, the calculation of the Trust
Evaluation to be computed pursuant to Section 5.01.

(c) For purposes of the Trust Evaluations required by
Section 5.01 in determining Redemption Value and Unit Value,
Evaluation of the Securities shall be made in the manner
described in Section 4.01(b), on the basis of current bid prices
for the Zero Coupon Obligations, the bid side value of the
relevant currency exchange rate expressed in U.S. dollars and,
except in those cases in which the Equity Securities are listed
on a national or foreign securities exchange or traded on the
Nasdaq Stock Market, Inc. and the last available sale prices are
utilized, on the basis of the last available bid price of the
Equity Securities. In addition, the Evaluator (i) shall not make
the addition specified in the fourth sentence of Section 4.01(b)
and (ii) may reduce the Evaluation of each Security which is
principally traded outside of the United States by the amount of
any liquidation costs and any capital gains or other taxes which
would be incurred by the Trust upon the sale of such Security,
such taxes being computed as if the Security were sold on the
date of the Evaluation.

IN WITNESS WHEREOF, the undersigned have caused this Trust Agreement to
be executed and their corporate seals to be hereto affixed and attested; all as
of the day, month and year first above written.

Van Kampen Funds Inc.

By James J. Boyne
- -------------------------------------
Senior Vice President

American Portfolio Evaluation Services,
a division of Van Kampen Investment Advisory Corp.

By James J. Boyne
- -------------------------------------
Senior Vice President

Van Kampen Investment Advisory Corp.

By James J. Boyne
- -------------------------------------
Senior Vice President

The Bank of New York

By Linda Bommer
- ---------------------------------
Vice President

SCHEDULE A TO TRUST AGREEMENT
SECURITIES INITIALLY DEPOSITED IN
VAN KAMPEN FOCUS PORTFOLIOS, SERIES 226

(Note: Incorporated herein and made a part hereof are the "Portfolios" as set
forth in the Prospectus.)

EXHIBIT 3.1

CHAPMAN AND CUTLER
111 WEST MONROE STREET
CHICAGO, ILLINOIS 60603

May 9, 2000

Van Kampen Funds Inc.
One Parkview Plaza
Oakbrook Terrace, Illinois 60181

Re: Van Kampen Focus Portfolios, Series 226
---------------------------------------

Gentlemen:

We have served as counsel for Van Kampen Funds Inc. as Sponsor and
Depositor of Van Kampen Focus Portfolios, Series 226 (hereinafter referred to as
the "Trust"), in connection with the preparation, execution and delivery of a
Trust Agreement dated May 9, 2000 among Van Kampen Funds Inc., as Depositor,
American Portfolio Evaluation Services, a division of Van Kampen Investment
Advisory Corp., as Evaluator, Van Kampen Investment Advisory Corp., as
Supervisory Servicer, and The Bank of New York, as Trustee, pursuant to which
the Depositor has delivered to and deposited the Securities listed in the
Schedule to the Trust Agreement with the Trustee and pursuant to which the
Trustee has provided to or on the order of the Depositor documentation
evidencing ownership of Units of fractional undivided interest in and ownership
of the Trust (hereinafter referred to as the "Units"), created under said Trust
Agreement.

In connection therewith we have examined such pertinent records and
documents and matters of law as we have deemed necessary in order to enable us
to express the opinions hereinafter set forth.

Based upon the foregoing, we are of the opinion that:

1. The execution and delivery of the Trust Agreement and the
execution and issuance of certificates evidencing the Units in
the Trust have been duly authorized; and

2. The certificates evidencing the Units in the Trust, when
duly executed and delivered by the Depositor and the Trustee in
accordance with the aforementioned Trust Agreement, will
constitute valid and binding obligations of such Trust and the
Depositor in accordance with the terms thereof.

We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement (File No. 333-34772) relating to the Units referred to
above and to the use of our name and to the reference to our firm in said
Registration Statement and in the related Prospectus.

Respectfully submitted,

CHAPMAN AND CUTLER

EXHIBIT 3.2

CHAPMAN AND CUTLER
111 WEST MONROE STREET
CHICAGO, ILLINOIS 60603

May 9, 2000

Van Kampen Funds Inc.
One Parkview Plaza
Oakbrook Terrace, Illinois 60181

The Bank of New York
101 Barclay Street
New York, New York 10286

Re: Van Kampen Focus Portfolios, Series 226
---------------------------------------

Gentlemen:

We have acted as counsel for Van Kampen Funds Inc., Depositor of Van
Kampen Focus Portfolios, Series 226 (the "Fund"), in connection with the
issuance of Units of fractional undivided interest in the Fund, under a Trust
Agreement dated May 9, 2000 (the "Indenture") among Van Kampen Funds Inc., as
Depositor, Van Kampen Investment Advisory Corp., as Evaluator, Van Kampen
Investment Advisory Corp., as Supervisory Servicer, and The Bank of New York, as
Trustee. The Fund is comprised of the separate unit investment trusts described
in the prospectus for the Fund (the "Trusts").

In this connection, we have examined the Registration Statement, the
Prospectus, the Indenture, and such other instruments and documents as we have
deemed pertinent.

The assets of the Trust will consist of a portfolio of securities (the
"Securities") as set forth in the Prospectus. For purposes of this opinion, it
is assumed that each Security is equity for federal income tax purposes.

Based upon the foregoing and upon an investigation of such matters of
law as we consider to be applicable, we are of the opinion that, under existing
United States Federal income tax law:

(i) The Trust is not an association taxable as a corporation
for Federal income tax purposes but will be governed by the provisions
of subchapter J (relating to trusts) of chapter 1, Internal Revenue
Code of 1986 (the "Code").

(ii) Each Unitholder will be considered as owning a pro rata
share of each asset of the Trust in the proportion that the number of
Units held by him bears to the total number of Units outstanding. Under
subpart E, subchapter J of chapter 1 of the Code, income of the Trust
will be treated as income of each Unitholder in the proportion
described, and an item of Trust income will have the same character in
the hands of a Unitholder as it would have in the hands of the Trustee.
Each Unitholder will be considered to have received his pro rata share
of income derived from each Trust asset when such income is considered
to be received by the Trust. A Unitholder's pro rata portion of
distributions of cash or property by a corporation with respect to a
Security ("dividends" as defined by Section 316 of the Code) is taxable
as ordinary income to the extent of such corporation's current and
accumulated "earnings and profits." A Unitholder's pro rata portion of
dividends paid on such security which exceeds such current and
accumulated earnings and profits will first reduce the Unitholder's tax
basis in such Security, and to the extent that such dividends exceed a
Unitholder's tax basis in such Security, shall be treated as gain from
the sale or exchange of property.

(iii) The price a Unitholder pays for his Units, generally
including sales charges, is allocated among his pro rata portion of
each Security held by the Trust (in proportion to the fair market
values thereof on the valuation date closest to the date the Unitholder
purchases his Units), in order to determine his tax basis for his pro
rata portion of each Security held by the Trust.

(iv) Gain or loss will be recognized to a Unitholder (subject
to various nonrecognition provisions under the Code) upon redemption or
sale of his Units, except to the extent an in kind distribution of
Securities is received by such Unitholder from the Trust as discussed
below. Such gain or loss is measured by comparing the proceeds of such
redemption or sale with the adjusted basis of his Units. Before
adjustment, such basis would normally be cost if the Unitholder had
acquired his Units by purchase. Such basis will be reduced, but not
below zero, by the Unitholder's pro rata portion of dividends with
respect to each Security which is not taxable as ordinary income.

(v) If the Trustee disposes of a Trust asset (whether by
sale, taxable exchange, liquidation, redemption, payment on maturity or
otherwise) gain or loss will be recognized to the Unitholder (subject
to various nonrecognition provisions under the Code) and the amount
thereof will be measured by comparing the Unitholder's aliquot share of
the total proceeds from the transaction with his basis for his
fractional interest in the asset disposed of. Such basis is ascertained
by apportioning the tax basis for his Units (as of the date on which
his Units were acquired) among each of the Trust assets (as of the date
on which his Units were acquired) ratably according to their values as
of the valuation date nearest the date on which he purchased such
Units. A Unitholder's basis in his Units and of his fractional interest
in each Trust asset must be reduced, but not below zero, by the
Unitholder's pro rata portion of dividends with respect to each
Security which are not taxable as ordinary income.

(vi) Under the Indenture, under certain circumstances, a
Unitholder tendering Units for redemption may request an in kind
distribution of certain Securities upon the redemption of Units or upon
the termination of the Trust. A Unitholder will generally receive cash
representing his pro rata portion of the foreign Securities in the
Trust. As previously discussed, prior to the redemption of Units or the
termination of the Trust, a Unitholder is considered as owning a pro
rata portion of each of the Trust's assets. The receipt of an in kind
distribution will result in a Unitholder receiving an undivided
interest in whole shares of stock and possibly cash. The potential
federal income tax consequences which may occur under an in kind
distribution with respect to each Security owned by the Trust will
depend upon whether or not a Unitholder receives cash in addition to
Securities. A "Security" for this purpose is a particular class of
stock issued by a particular corporation. A Unitholder will not
recognize gain or loss if a Unitholder only receives Securities in
exchange for his or her pro rata portion of the Securities held by the
Trust. However, if a Unitholder also receives cash in exchange for a
Security (or fractional share of a Security) held by the Trust, such
Unitholder will generally recognize gain or loss based upon the
difference between the amount of cash received by the Unitholder and
his tax basis in such Security (or fractional share of a Security) held
by such Trust. The total amount of taxable gains (or losses) recognized
upon such redemption will generally equal the sum of the gain (or loss)
recognized under the rules described above by the redeeming Unitholder
with respect to each Security owned by the Trust.

To the extent dividends received by the Trust are attributable to
foreign corporations, a corporation that owns Units will not be entitled to the
dividends received deduction with respect to its pro rata portion of such
dividends since the dividends received deduction is generally available only
with respect to dividends paid by domestic corporations.

It should be noted that payments to the Trust of dividends on
Securities that are attributable to foreign corporations may be subject to
foreign withholding taxes and Unitholders should consult their tax advisers
regarding the potential tax consequences relating to the payment of any such
withholding taxes by the Trust. Any dividends withheld as a result thereof will
nevertheless be treated as income to the Unitholders. Because under the grantor
trust rules, an investor is deemed to have paid directly his share of foreign
taxes that have been paid or accrued, if any, an investor may be entitled to a
foreign tax credit or deduction for United States tax purposes with respect to
such taxes. A required holding period is imposed for such credits.

Section 67 of the Code provides that certain itemized deductions, such
as investment expenses, tax return preparation fees and employee business
expenses will be deductible by individuals only to the extent they exceed 2% of
such individual's adjusted gross income. Unitholders may be required to treat
some or all of the expenses of a Trust as miscellaneous itemized deductions
subject to this limitation.

A Unitholder will recognize taxable gain (or loss) when all or part of
the pro rata interest in a Security is either sold by the Trust or redeemed or
when a Unitholder disposes of his Units in a taxable transaction, in each case
for an amount greater (or less) than his tax basis therefor, subject to various
non-recognition provisions of the Code.

Any gain or loss recognized on a sale or exchange will, under current
law, generally be capital gain or loss.

The scope of this opinion is expressly limited to the matters set forth
herein, and, except as expressly set forth above, we express no opinion with
respect to any other taxes, including foreign, state or local taxes or
collateral tax consequences with respect to the purchase, ownership and
disposition of Units.

Very truly yours,

CHAPMAN AND CUTLER

EXHIBIT 3.3

WINSTON & STRAWN
200 Park Avenue
New York, NY 10166-4193

May 9, 2000

Van Kampen Focus Portfolios, Series 226
c/o The Bank of New York,
As Trustee
101 Barclay Street, 17 West
New York, New York 10286

Dear Sirs:

We have acted as special counsel for the Van Kampen Focus Portfolios,
Series 226 (the "Fund") consisting of The Dow Strategic 10 Trust, May 2000
Series, The Dow Strategic 5 Trust, May 2000 Series, The Dow 5 & Tech Strategic
Trust, May 2000 Series, Nasdaq Strategic 10 Trust, May 2000 Series, Strategic
Picks Opportunity Trust, May 2000 Series, and EAFE Strategic 20 Trust, May 2000
Series (individually a "Trust" and, in the aggregate, the "Trusts") for purposes
of determining the applicability of certain New York taxes under the
circumstances hereinafter described.

The Fund is created pursuant to a Trust Agreement (the "Indenture"),
dated as of today (the "Date of Deposit") among Van Kampen Funds Inc. (the
"Depositor"), American Portfolio Evaluation Services, a division of an affiliate
of Depositor, as Evaluator, Van Kampen Investment Advisory Corp., an affiliate
of the Depositor, as Supervisory Servicer (the "Supervisory Servicer"), and The
Bank of New York, as trustee (the "Trustee"). As described in the prospectus
relating to the Fund dated today to be filed as an amendment to a registration
statement heretofore filed with the Securities and Exchange Commission under the
Securities Act of 1933, as amended (the "Prospectus") (File Number 333-34772),
the objectives of the Fund are to provide the potential for dividend income and
capital appreciation through investment in a fixed portfolio of actively traded
equity securities in the country or index denominated in the Trust's name. It is
noted that no opinion is expressed herein with regard to the Federal tax aspects
of the securities, the Trusts, units of the Trusts (the "Units"), or any
interest, gains or losses in respect thereof.

As more fully set forth in the Indenture and in the Prospectus, the
activities of the Trustee will include the following:

On the Date of Deposit, the Depositor will deposit with the Trustee
with respect to each Trust the securities and/or contracts and cash for the
purchase thereof together with an irrevocable letter of credit in the amount
required for the purchase price of the securities comprising the corpus of the
Trust as more fully set forth in the Prospectus.

The Trustee did not participate in the selection of the securities to
be deposited in the Trusts, and, upon the receipt thereof, will deliver to the
Depositor a registered certificate for the number of Units representing the
entire capital of the Trusts as more fully set forth in the Prospectus. The
Units, which are represented by certificates ("Certificates"), will be offered
to the public upon the effectiveness of the registration statement.

The duties of the Trustee, which are ministerial in nature, will
consist primarily of crediting the appropriate accounts with cash dividends
received by the Fund and with the proceeds from the disposition of securities
held in the Fund and the proceeds of the treasury obligation on maturity and the
distribution of such cash dividends and proceeds to the Unit holders. The
Trustee will also maintain records of the registered holders of Certificates
representing an interest in the Fund and administer the redemption of Units by
such Certificate holders and may perform certain administrative functions with
respect to an automatic reinvestment option.

Generally, equity securities held in the Trusts may be removed
therefrom by the Trustee at the direction of the Depositor upon the occurrence
of certain specified events which adversely affect the sound investment
character of the Fund, such as default by the issuer in payment of declared
dividends or of interest or principal on one or more of its debt obligations.

Prior to the termination of the Fund, the Trustee is empowered to sell
equity securities designated by the Supervisory Servicer only for the purpose of
redeeming Units tendered to it and of paying expenses for which funds are not
available. The Trustee does not have the power to vary the investment of any
Unit holder in the Fund, and under no circumstances may the proceeds of sale of
any equity securities held by the Fund be used to purchase new equity securities
to be held therein.

Article 9-A of the New York Tax Law imposes a franchise tax on business
corporations, and, for purposes of that Article, Section 208(1) defines the term
"corporation" to include, among other things, "any business conducted by a
trustee or trustees wherein interest or ownership is evidenced by certificate or
other written instrument."

The Regulations promulgated under Section 208 provide as follows:

A business conducted by a trustee or trustees in which interest or
ownership is evidenced by certificate or other written instrument
includes, but is not limited to, an association commonly referred to as
a "business trust" or "Massachusetts trust". In determining whether a
trustee or trustees are conducting a business, the form of the
agreement is of significance but is not controlling. The actual
activities of the trustee or trustees, not their purposes and powers,
will be regarded as decisive factors in determining whether a trust is
subject to tax under Article 9-A. The mere investment of funds and the
collection of income therefrom, with incidental replacement of
securities and reinvestment of funds, does not constitute the conduct
of a business in the case of a business conducted by a trustee or
trustees. 20 NYCRR 1-2.5(b)(2) (July 11, 1990).

New York cases dealing with the question of whether a trust will be
subject to the franchise tax have also delineated the general rule that where a
trustee merely invests funds and collects and distributes the income therefrom,
the trust is not engaged in business and is not subject to the franchise tax.
Burrell v. Lynch, 274 A.D. 347, 84 N.Y.S.2d 171 (3rd Dept. 1948), order
resettled, 274 A.D. 1083, 85 N.Y.S.2d 705 (3rd Dept. 1949).

In an Opinion of the Attorney General of the State of New York, 47 N.Y.
Att'y. Gen. Rep. 213 (Nov. 24, 1942), it was held that where the trustee of an
unincorporated investment trust was without authority to reinvest amounts
received upon the sales of securities and could dispose of securities making up
the trust only upon the happening of certain specified events or the existence
of certain specified conditions, the trust was not subject to the franchise tax.

In the instant situation, the Trustee is not empowered to, and we
assume will not, sell equity securities contained in the corpus of the Fund and
reinvest the proceeds therefrom. Further, the power to sell such equity
securities is limited to circumstances in which the credit-worthiness or
soundness of the issuer of such equity security is in question or in which cash
is needed to pay redeeming Unit holders or to pay expenses, or where the Fund is
liquidated subsequent to the termination of the Indenture. In substance, the
Trustee will merely collect and distribute income and will not reinvest any
income or proceeds, and the Trustee has no power to vary the investment of any
Unit holder in the Fund.

Under Subpart E of Part I, Subchapter J of Chapter 1 of the Internal
Revenue Code of 1986, as amended (the "Code"), the grantor of a trust will be
deemed to be the owner of the trust under certain circumstances, and therefore
taxable on his proportionate interest in the income thereof. Where this Federal
tax rule applies, the income attributed to the grantor will also be income to
him for New York income tax purposes. See TSB-M-78(9)(c), New York Department of
Taxation and Finance, June 23, 1978.

By letter dated today, Messrs. Chapman and Cutler, counsel for the
Depositor, rendered their opinion that each Unit holder will be considered as
owning a share of each asset of a Trust in the proportion that the number of
Units held by such holder bears to the total number of Units outstanding and the
income of a Trust will be treated as the income of each Unit holder in said
proportion pursuant to Subpart E of Part I, Subchapter J of Chapter 1 of the
Code.

Based on the foregoing and on the opinion of Messrs. Chapman and
Cutler, counsel for the Depositor, dated today, upon which we specifically rely,
we are of the opinion that under existing laws, rulings, and court decisions
interpreting the laws of the State and City of New York:

1. Each of the Trusts will not constitute an association
taxable as a corporation under New York law, and, accordingly,
will not be subject to tax on its income under the New York State
franchise tax or the New York City general corporation tax.

2. The income of the Trusts will be treated as the income of
the Unit holders under the income tax laws of the State and City
of New York.

3. Unit holders who are not residents of the State of New
York are not subject to the income tax laws thereof with respect
to any interest or gain derived from the Fund or any gain from
the sale or other disposition of the Units, except to the extent
that such interest or gain is from property employed in a
business, trade, profession or occupation carried on in the State
of New York.

We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement relating to the Units and to the use of our name and the
reference to our firm in the Registration Statement and in the Prospectus.

Very truly yours,

WINSTON & STRAWN

EXHIBIT 4.1

INTERACTIVE DATA
FINANCIAL TIMES INFORMATION
100 Williams Street, 25th Floor, New York, NY 10038 USA
Tel: (212) 269-6300 Fax (212) 771-6445

May 8, 2000

Van Kampen Funds Inc.
One Parkview Plaza
Oakbrook Terrace, IL 60181

Re: Van Kampen Focus Portfolios, Series 226 The Dow Strategic 10
Trust, May 2000 Series, The Dow Strategic 5 Trust, May 2000
Series, The Dow 5 & Tech Strategic Trust, May 2000 Series,
Nasdaq Strategic 10 Trust, May 2000 Series, Strategic Picks
Opportunity Trust, May 2000 Series, and EAFE Strategic 20 Trust,
May 2000 Series (A Unit Investment Trust) Registered Under the
Securities Act of 1933, File No. 333-34772

Gentlemen:

We have examined the Registration Statement for the above captioned
Fund, a copy of which is attached hereto.

We hereby consent to the reference in the Prospectus and Registration
Statement for the above captioned Fund to Interactive Data Corporation, as the
Evaluator, and to the use of the Obligations prepared by us which are referred
to in such Prospectus and Registration Statement.

You are authorized to file copies of this letter with the Securities
and Exchange Commission.

Very truly yours,

Steve Miano
Director Fixed Income Data Operations

EXHIBIT 4.2

INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS' CONSENT

We have issued our report dated May 9, 2000 on the statements of
condition and related securities portfolios of Van Kampen Focus Portfolios,
Series 226 as of May 9, 2000 contained in the Registration Statement on Form S-6
and Prospectus. We consent to the use of our report in the Registration
Statement and Prospectus and to the use of our name as it appears under the
caption "Other Matters-Independent Certified Public Accountants."

GRANT THORNTON LLP

Chicago, Illinois
May 9, 2000