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Filed Pursuant to Rule 497(e)
Registration File No.: 333-39791
333-02419
33-55218
33-46515
33-63685
33-46049
33-48765
SUPPLEMENT TO THE PROSPECTUSES OF
TCW/DW EMERGING MARKETS OPPORTUNITIES TRUST Dated March 31, 1998
TCW/DW GLOBAL TELECOM TRUST Dated July 31, 1998
TCW/DW INCOME AND GROWTH FUND Dated March 31, 1998
TCW/DW LATIN AMERICAN GROWTH FUND Dated March 31, 1998
TCW/DW MID-CAP EQUITY TRUST Dated January 30, 1998
TCW/DW NORTH AMERICAN GOVERNMENT INCOME TRUST Dated January 30, 1998
TCW/DW SMALL CAP GROWTH FUND Dated April 24, 1998
The Trustees of each investment company named above have approved certain
changes to the Systematic Withdrawal Plan of each company, to take effect on
October 1, 1998. EFFECTIVE OCTOBER 1, 1998, the disclosure in the section of
each of the above Prospectuses entitled "SHAREHOLDER SERVICES -- Systematic
Withdrawal Plan" is hereby replaced by the following:
Systematic Withdrawal Plan. A systematic withdrawal plan (the
"Withdrawal Plan") is available for shareholders whose shares of TCW/DW
Funds have an aggregate value of $10,000 or more. Shares of any Fund from
which redemptions will be made pursuant to the Plan must have a value of
$1,000 or more (referred to as a "SWP Fund"). The required share values are
determined on the date the shareholder establishes the Withdrawal Plan. The
Withdrawal Plan provides for monthly, quarterly, semi-annual or annual
payments in any amount not less than $25, or in any whole percentage of the
value of the SWP Funds' shares, on an annualized basis. Any applicable
contingent deferred sales charge ("CDSC") will be imposed on shares
redeemed under the Withdrawal Plan (see "Purchase of Fund Shares" in the
Prospectuses of the Funds offered with multiple Classes), except that the
CDSC, if any, will be waived on redemptions under the Withdrawal Plan of up
to 12% annually of the value of each SWP Fund account, based on the share
values next determined the shareholder establishes the Withdrawal Plan.
(For shareholders who established the Withdrawal Plan prior to October 1,
1998, the value of each SWP Fund account for the purpose of the 12% CDSC
waiver will be determined at 4:00 p.m., New York time, on October 2, 1998.)
Redemptions for which this CDSC waiver policy applies may be in amounts up
to 1% per month, 3% per quarter, 6% semi-annually or 12% annually. Under
this CDSC waiver policy, amounts withdrawn each period will be paid by
first redeeming shares not subject to a CDSC because the shares were
purchased by the reinvestment of dividends or capital gains distributions,
the CDSC period has elapsed or some other waiver of the CDSC applies. If
shares subject to a CDSC must be redeemed, shares held for the longest
period of time will be redeemed first and continuing with shares held the
next longest period of time until shares held the shortest period of time
are redeemed. Any shareholder participating in the Withdrawal Plan will
have sufficient shares redeemed from his or her account so that the
proceeds (net of any applicable CDSC) to the shareholder will be the
designated monthly, quarterly, semi-annual or annual amount.
A shareholder may suspend or terminate participation in the Withdrawal
Plan at any time. A shareholder who has suspended participation may resume
payments under the Withdrawal Plan, without requiring a new determination
of the account value for the 12% CDSC waiver. The Withdrawal Plan may be
terminated or revised at any time by the Fund.
Prior to adding an additional SWP Fund to an existing Withdrawal Plan,
the required $10,000/$1,000 share values must be met, to be calculated on
the date the shareholder adds the additional SWP Fund. However, the
addition of a new SWP Fund will not change the account value for the 12%
CDSC waiver for the SWP Funds already participating in the Withdrawal Plan.
Withdrawal Plan payments should not be considered dividends, yields or
income. If periodic Withdrawal Plan payments continuously exceed net
investment income and net capital gains, the shareholder's original
investment will be correspondingly reduced and ultimately exhausted. Each
withdrawal constitutes a redemption of shares and any gain or loss realized
must be recognized for federal income tax purposes.
Shareholders should contact their Morgan Stanley Dean Witter Financial
Advisor or other Selected Broker-Dealer representative or the Transfer
Agent for further information about the Withdrawal Plan.
Effective October 1, 1998, the Trustees of each investment company named
above that is offered with multiple classes of shares (that is, all except
TCW/DW North American Government Income Trust) have amended the disclosure in
the section of each of the above Prospectuses entitled "PURCHASE OF FUND SHARES
- -- Contingent Deferred Sales Change Alternative -- Class B Shares -- CDSC
Waivers" to reflect that the CDSC will be waived for certain redemptions
pursuant to the Fund's Systematic Withdrawal Plan, and referring investors to
the section of each Prospectus entitled "SHAREHOLDER SERVICES -- Systematic
Withdrawal Plan."
September 30, 1998
