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Filed Pursuant to Rule 497(e)
Registration File No.: 2-84376
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SUPPLEMENT TO THE PROSPECTUS OF
DEAN WITTER SELECT MUNICIPAL REINVESTMENT FUND
DATED FEBRUARY 11, 1994
Effective December 15, 1994, the Trustees of Dean Witter Select Municipal
Reinvestment Fund (the "Fund") have adopted a new dividend policy pursuant to
which dividends will be declared daily and paid monthly. Thus, shareholders
of the Fund will receive two dividends for December, 1994: (1) the regular
monthly dividend payable on December 15, 1994 and (2) the daily dividends for
the period from December 15, 1994 until the monthly payment date.
Effective December 15, 1994, the first sentence under the section entitled
"PROSPECTUS SUMMARY--Dividends and Capital Gains Distributions" on page 2 of
the Prospectus is replaced by the following:
Dividends from net investment income are declared daily and paid
monthly; short-term capital gains, if any, are distributed at least
annually; long-term capital gains, if any, are distributed at least
annually or retained for reinvestment by the Fund (see page 11).
Effective December 15, 1994, the first and second paragraphs under the
section entitled "DIVIDENDS, DISTRIBUTIONS AND TAXES--Dividends and
Distributions" on pages 11 and 12 of the Prospectus are replaced by the
following:
The Fund declares dividends from net investment income on each day the
New York Stock Exchange is open for business to shareholders of record as
of the close of business the preceding day. Such dividends are paid
monthly. The Fund intends to distribute all of the Fund's net investment
income on an annual basis.
The Fund will distribute at least once each year all net short-term
capital gains, if there are any. The Fund may, however, determine either
to distribute or to retain all or part of any net long-term capital gains
in any year for reinvestment.
All dividends and any capital gains distributions will be paid in
additional Fund Shares (without sales charge) and automatically credited
to the Shareholder's account (or paid in cash if the Shareholder so
requests) on the monthly payment date, which will be no later than the
last business day of the month for which the dividend or distribution is
payable. Processing of dividend checks begins immediately following the
monthly payment date. Shareholders who have requested to receive dividends
in cash will normally receive their monthly dividend check during the
first ten days of the following month. At any time a Shareholder may
request the Agent in writing to have subsequent dividends and capital
gains distributions paid to him or her in cash, rather than Shares. In
order to provide sufficient time to process the change, such requests
should be received by the Agent at least five (5) business days prior to
the record date for which it commences to take effect.
November 4, 1994
