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INITIAL PUBLIC OFFERING OF 13,000,000 COMMON SHARES OF BENEFICIAL INTEREST OF INTERCAPITAL CALIFORNIA INSURED MUNICIPAL INCOME TRUST

 NEW YORK, Feb. 19 /PRNewswire/ -- Dean Witter Distributors Inc., as manager of the underwriting group, announced today the initial public offering of 13,000,000 common shares of beneficial interest of InterCapital California Insured Municipal Income Trust at a price of $15 per share. The Trust has granted the underwriters an option to purchase up to an additional 1,950,000 common shares to cover over-allotments, if any. The Trust's common shares have been approved for listing on the New York Stock Exchange under the symbol "IIC."
 InterCapital California Insured Municipal Income Trust is a newly organized, closed-end non-diversified management investment company which seeks to provide current income exempt from federal and California income tax. The Trust will seek to achieve its investment objective by investing primarily in a portfolio of municipal obligations the interest on which, in the opinion of bond counsel to the issuer, is exempt from federal and California income taxes and which are covered by insurance guarantees with respect to timely payment of principal and interest thereon. The Trust may invest a portion of its assets in other municipal obligations the interest on which is exempt from federal but not California income taxes and which are covered by insurance guarantees with respect to timely payment of principal and interest thereon. The Trust will also invest in California municipal obligations and other municipal obligations which are backed by an escrow or trust account containing sufficient U.S. government securities or U.S. government agency securities to ensure timely payment of principal and interest thereon.
 -0- 2/19/93
 /CONTACT: Ross Piro of Dean Witter Distributors, 212-392-4802/


CO: InterCapital California Insured Municipal Income Trust ST: IN: FIN SU: OFR

GK -- NY022 -- 8326 02/19/93 10:43 EST
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Publication:PR Newswire
Date:Feb 19, 1993
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