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EXHIBIT (a)(5)
[VAN KAMPEN FUNDS LOGO]
NEWS RELEASE 1 Parkview Plaza - P.O. Box 5555 - Oakbrook Terrace, Illinois
60181-5555 - www.vankampen.com
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NEWS RELEASE
FOR IMMEDIATE RELEASE
FOR MORE INFORMATION CONTACT:
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James J. Boyne or Marcie Vernier
800/225-2222 800/225-2222
Ext. 6327 Ext. 8323
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VAN KAMPEN PRIME RATE INCOME TRUST
BEGINS TENDER OFFER FOR COMMON SHARES
CHICAGO (June 16, 2000) -- Van Kampen Prime Rate Income Trust, distributed
by Van Kampen Funds Inc., a subsidiary of Van Kampen Investments Inc. ("Van
Kampen"), announced today that it has commenced a tender offer for 100,569,693
of its outstanding common shares of beneficial interest.
The offer is not conditioned on any minimum number of common shares that
must be tendered. The offer is subject to the terms and conditions set forth in
the Offer to Purchase and the related Letter of Transmittal. The common shares
are being tendered at a price equal to the net asset value per common share
determined as of 5:00 p.m., Eastern Standard Time, on July 14, 2000, the
expiration date, unless extended. The offer and withdrawal rights will expire,
as of 12:00 Midnight, Eastern Standard Time, on July 14, 2000, unless extended.
An early withdrawal charge will be imposed on most common shares accepted for
payment that have been held for less than five years.
As indicated in the Trust's current prospectus, the Board of Trustees
currently intends, each quarter, to consider authorizing the Trust to make
tender offers for its common shares in order to attempt to provide liquidity to
its investors.
The Van Kampen Prime Rate Income Trust tender offer is being made only by
the Offer to Purchase dated June 16, 2000 and the related Letter of Transmittal.
Questions and requests for assistance, for current net asset value quotes, or
for copies of the Offer to Purchase, Letter of Transmittal, and any other tender
offer documents may be directed to Van Kampen by calling 1-800-421-5666.
Van Kampen is a diversified asset management company with more than two
million retail investor accounts, extensive capabilities for managing
institutional portfolios, and more than $100 billion under management or
supervision, as of March 31, 2000. Van Kampen's more than 50 open-end and 39
closed-end funds and more than 2,700 unit investment trusts are professionally
distributed by leading financial advisors nationwide. Van Kampen is an indirect
wholly owned subsidiary of Morgan Stanley Dean Witter & Co.
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