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Three Morgan Stanley Closed-End Funds Merged

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Dec. 10, 2002 — Morgan Stanley Dean Witter (MWD) said shareholders approved merging three closed-end funds that invest in high-yield bonds into an open-end fund.

In the reorganization, Morgan Stanley High Income Adv (YLD), Morgan Stanley High Inc Adv II (YLT) and Morgan Stanley High Inc Adv III (YLH) were absorbed by Morgan Stanley High Yield Securities/B (HYLBX).