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Filed Pursuant to Rule 497(e)
Registration File No.: 2-66269
SUPPLEMENT TO THE PROSPECTUS OF
DEAN WITTER AMERICAN VALUE FUND
DATED FEBRUARY 27, 1996
The sixth paragraph of the section entitled "The Fund and its Management"
in the above Prospectus is revised to reflect that, effective May 1, 1996,
the Trustees of the Fund have amended the Fund's Investment Management
Agreement to reduce the compensation received by the Investment Manager under
the Agreement for assets exceeding $2.5 billion, so that the compensation
under the Agreement is calculated daily by applying the following annual
rates to the Fund's net assets determined as of the close of each business
day: 0.625% of the portion of daily net assets not exceeding $250 million;
0.50% of the portion exceeding $250 milllion but not exceeding $2.5 billion;
and 0.475% of the portion of daily net assets exceeding $2.5 billion.
April 18, 1996
