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INITIAL PUBLIC OFFERING OF 100,000,000 SHARES OF BENEFICIAL INTEREST OF TCW/DW TERM TRUST 2003 AT $10 PER SHARE

 NEW YORK, April 22 /PRNewswire/ -- Dean Witter Distributors Inc., as manager of the underwriting group, announced today the initial public offering of 100,000,000 Shares of Beneficial Interest of TCW/DW Term Trust 2003 at a price of $10 per share. The Trust has granted the underwriters an option to purchase up to an additional 15,000,000 shares to cover over-allotments, if any. The Trust's shares have been approved for listing on the New York Stock Exchange under the symbol TMT.
 TCW/DW Term Trust 2003 is a newly organized, closed-end diversified management investment company which seeks to provide a high level of current income and return $10 per share (the initial public offering price) to shareholders on or about Dec. 31, 2003, (the termination date of the Trust). The Trust will seek to achieve its investment objective by investing in a variety of high quality mortgage-backed securities, asset-backed securities, zero coupon securities of municipal issuers, other municipal securities and debt securities of non-U.S. issuers which are either (i) issued or guaranteed by the U.S. Government or its agencies or instrumentalities or (ii) at the time of investment, rated "Aaa" by Moody's Investors Service, Inc. or "AAA" by Standard & Poor's Corporation or, if unrated, are determined by the adviser to be of comparable quality to such rated securities.
 -0- 4/22/93
 /CONTACT: Ross Piro of Dean Witter Distributors Inc., 212-392-4802/


CO: TCW/DW Term Trust 2003; Dean Witter Distributors, Inc. ST: IN: FIN SU: OFR

SH -- NY088 -- 9499 04/22/93 13:12 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
Words:259
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