Chapman and Cutler
111 West Monroe Street
Chicago, Illinois 60603
July 19, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549-1004
Attn: Filing Desk, Stop 1-4
Re:Insured Municipals Income Trust, 201st Insured Multi-Series
File No. 333-06215
Ladies/Gentlemen:
Pursuant to the requirements of Rule 497(d) of the General Rules and
Regulations of the Securities Act of 1933, we are submitting a supplement
to the prospectus being used with respect to the above-mentioned series.
Very truly yours,
Chapman and Cutler
Attachment
SUPPLEMENT TO THE PROSPECTUS
Dated: July 19, 1996
On June 24, 1996, VK/AC Holding, Inc. announced it had entered into an
Agreement and Plan of Merger among Morgan Stanley Group, Inc., MSAM Holdings
II, Inc. and MSAM Acquisition Inc., pursuant to which MSAM Acquisition Inc.
will be merged with and into VK/AC Holding, Inc. and VK/AC Holding, Inc. will
be the surviving corporation. Van Kampen American Capital, Inc. is a wholly
owned subsidiary of VK/AC Holding, Inc. The Trust's Sponsor, Van Kampen
American Capital Distributors, Inc., and the Supervisor and Evaluator of
certain Trusts, Van Kampen American Capital Investment Advisory Corp., are
wholly owned subsidiaries of Van Kampen American Capital, Inc. MSAM
Acquisition Inc. is a wholly owned subsidiary of MSAM Holdings II, Inc. which,
in turn, is a wholly owned subsidiary of Morgan Stanley Group, Inc. Subject to
a number of conditions being met, it is currently anticipated that a closing
will occur in November, 1996. Thereafter, VK/AC Holding, Inc. and its
affiliated entities shall be part of Morgan Stanley Group Inc.
