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VAN KAMPEN GROWTH AND INCOME FUND
VAN KAMPEN TAX EXEMPT TRUST
ON BEHALF OF ITS SERIES
VAN KAMPEN HIGH YIELD MUNICIPAL FUND
SUPPLEMENT DATED APRIL 28, 2000 TO THE
PROSPECTUS DATED MARCH 29, 2000
The Prospectus is hereby supplemented as follows:
(1) The information on the inside back cover of the Prospectus under the
heading BOARD OF TRUSTEES AND OFFICERS--BOARD OF TRUSTEES is hereby amended by
deleting Paul G. Yovovich, effective April 14, 2000.
(2) The information on the inside back cover of the Prospectus under the
heading "BOARD OF TRUSTEES AND OFFICERS--OFFICERS" is hereby amended by deleting
and replacing Stephen L. Boyd's title of Vice President with Executive Vice
President and Chief Investment Officer and Edward C. Wood, III*, Vice President,
with John H. Zimmermann, III*, Vice President, effective April 17, 2000.
RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
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VAN KAMPEN GROWTH AND INCOME FUND
VAN KAMPEN TAX EXEMPT TRUST
ON BEHALF OF ITS SERIES
VAN KAMPEN HIGH YIELD MUNICIPAL FUND
SUPPLEMENT DATED APRIL 28, 2000 TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED MARCH 29, 2000
The Statement of Additional Information is hereby supplemented as follows:
(1) The section entitled "TRUSTEES AND OFFICERS" is hereby amended by
deleting all information pertaining to Paul G. Yovovich, effective April 14,
2000.
(2) The section entitled "TRUSTEES AND OFFICERS--OFFICERS" is hereby
amended by deleting all information pertaining to Edward C. Wood, III and
Stephen L. Boyd, effective April 17, 2000, and by adding the following:
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<S> <C>
Stephen L. Boyd...................... Executive Vice President and Chief Investment Officer of Van
Date of Birth: 11/16/40 Kampen Investments, and President and Chief Operating
Executive Vice President and Officer of the Advisers. Executive Vice President and Chief
Chief Investment Officer Investment Officer of each of the funds in the Fund Complex
Age: 59 and certain other investment companies advised by the
Advisers or their affiliates. Prior to April 2000, Vice
President and Chief Investment Officer of the Advisers.
Prior to October 1998, Vice President and Senior Portfolio
Manager with AIM Capital Management, Inc. Prior to February
1998, Senior Vice President and Portfolio Manager of Van
Kampen American Capital Asset Management, Inc., Van Kampen
American Capital Investment Advisory Corp. and Van Kampen
American Capital Management, Inc.
John H. Zimmermann, III.............. Senior Vice President and Director of Van Kampen
Date of Birth: 11/25/57 Investments, President and Director of the Distributor and
Vice President President of Van Kampen Insurance Agency of Illinois Inc.
Age: 42 Vice President of each of the funds in the Fund Complex.
From November 1992 to December 1997, Senior Vice President
of the Distributor.
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(3) The footnote to the "CLASS A SHARES SALES CHARGE TABLE" at the end of
the second paragraph in the section entitled "DISTRIBUTION AND SERVICE" is
hereby deleted in its entirety and replaced with the following:
* No sales charge is payable at the time of purchase on investments of
$1 million or more, although the Fund may impose a contingent deferred
sales charge of 1.00% on certain redemptions made within one year of
purchase. A commission or transaction fee will be paid by the Distributor
at the time of purchase directly out of the Distributor's assets (and not
out of the Fund's assets) to authorized dealers who initiate and are
responsible for purchases of $1 million or more computed on a percentage of
the dollar value of such shares sold as follows: 1.00% on sales to $2
million, plus 0.80% on the next $1 million and 0.50% on the excess over $3
million. For single purchases of $20 million or more by an individual
retail investor the Distributor will pay, at the time of purchase and
directly out of the Distributor's assets (and not out of the Fund's
assets), a commission or transaction fee of 1.00% to authorized dealers who
initiate and are responsible for such purchases. The commission or
transaction fee of 1.00% will be computed on a percentage of the dollar
value of such shares sold.
