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Filed Pursuant to Rule 497(e)
Registration File No.: 2-97963
SUPPLEMENT TO THE PROSPECTUS OF
DEAN WITTER CONVERTIBLE SECURITIES TRUST
DATED JANUARY 31, 1996
The Section of the Prospectus entitled "Investment Objective and Policies"
is supplemented by the addition of the following language:
The Fund may invest up to 25% of its total assets in "enhanced"
convertible securities. Enhanced convertible securities offer holders the
opportunity to obtain higher current income than would be available from
a traditional equity security issued by the same company, in return for
reduced participation or a cap on appreciation in the underlying common
stock of the issuer which the holder can realize. In addition, in many
cases, enhanced convertible securities are convertible into the
underlying common stock of the issuer automatically at maturity, unlike
traditional convertible securities which are convertible only at the
option of the security holder. Enhanced convertible securities may be
more volatile than traditional convertible securities due to the
mandatory conversion feature.
The Fund also may invest up to 10% in "synthetic" convertible
securities. Unlike traditional convertible securities whose conversion
values are based on the common stock of the issuer of the convertible
security, "synthetic" convertible securities are preferred stocks or debt
obligations of an issuer which are combined with an equity component
whose conversion value is based on the value of the common stock of a
different issuer or a particular benchmark (which may include a foreign
issuer or basket of foreign stocks, or a company whose stock is not yet
publicly traded). In many cases, "synthetic" convertible securities are
not convertible prior to maturity, at which time the value of the
security is paid in cash by the issuer.
"Synthetic" convertible securities may be less liquid than traditional
convertible securities and their price changes may be more volatile.
Reduced liquidity may have an adverse impact on the Fund's ability to
sell particular synthetic securities promptly at favorable prices and may
also make it more difficult for the Fund to obtain market quotations
based on actual trades, for purposes of valuing the Fund's portfolio
securities.
The Fund may invest without limitation in "exchangeable" convertible
bonds and convertible preferred stock which are issued by one company,
but convertible into the common stock of a different publicly traded
company. These securities generally have liquidity trading and risk
characteristics similar to traditional convertible securities noted
above.
June 14, 1996
