<PAGE> 1
VAN KAMPEN HIGH YIELD MUNICIPAL FUND
A SERIES OF THE
VAN KAMPEN TAX EXEMPT TRUST
SUPPLEMENT DATED SEPTEMBER 7, 1999 TO THE
PROSPECTUS DATED MARCH 30, 1999
AS PREVIOUSLY SUPPLEMENTED ON MAY 3, 1999
The section of the Prospectus entitled "PURCHASE OF SHARES" is supplemented
with the following:
Effective September 13, 1999, Van Kampen High Yield Municipal Fund will
reopen to new investors for a limited time and a limited amount. All
requirements and conditions for a purchase of shares as described in the Fund's
prospectus apply to orders received in this reopening of the Fund, including the
right to refuse any order or to suspend the sale of the Fund's shares in
response to market conditions or for other reasons. The Fund may terminate this
offering without any prior notice.
HYM SPT 9799
