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Filed Pursuant to Rule 497(e)
Registration File No.: 33-46049
SUPPLEMENT TO THE PROSPECTUS OF
TCW/DW NORTH AMERICAN GOVERNMENT INCOME TRUST
DATED NOVEMBER 25, 1998
The eighth paragraph of the section entitled "The Fund and Its Management"
in the above Prospectus is revised to reflect that, effective May 1, 1999, the
Trustees of the Fund have amended the Fund's current Management Agreement and
current Investment Advisory Agreement to reduce the compensation received by
the Manager and the Adviser under the Agreements for assets exceeding $500
million, so that the compensation under the Agreements is calculated daily by
applying the following annual rates to the Fund's net assets determined as of
the close of each business day: Management Agreement: 0.39% of the portion of
daily net assets not exceeding $500 million; and 0.36% of the portion of daily
net assets exceeding $500 million. Investment Advisory Agreement: 0.26% of the
portion of daily net assets not exceeding $500 million; and 0.24% of the
portion of daily net assets exceeding $500 million.
The same reduction at $500 million has been approved in connection with
the proposed "New Investment Management Agreement" between the Fund and Morgan
Stanley Dean Witter Advisors Inc. approved by the Trustees of the Fund on
February 25, 1999, which was described in the Supplement dated February 25,
1999 to the Prospectus of the Fund. Under that Agreement, if approved by
shareholders, the compensation would be identical to the total aggregate fees
in effect as of May 1, 1999 under the current Management and Investment
Advisory Agreements, and would be calculated daily by applying the following
annual rates to the Fund's net assets determined as of the close of each
business day: 0.65% of the portion of daily net assets not exceeding $500
million; and 0.60% of the portion of daily net assets exceeding $500 million.
May 1, 1999
