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VAN KAMPEN AMERICAN CAPITAL
HIGH INCOME CORPORATE BOND FUND
Supplement dated August 9, 1996,
to the Statement of Additional Information dated December 27, 1995.
In the section of the Statement of Additional Information captioned
"INVESTMENT OBJECTIVES AND POLICIES - Securities of Foreign Issuers" hereby is
amended and replaced as follows:
In addition to the policies set forth in the Prospectus, the Fund may also
invest up to ten percent of its total assets in foreign currency denominated
debt securities.
