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INITIAL PUBLIC OFFERING OF 22 MILLION COMMON SHARES OF BENEFICIAL INTEREST OF INTERCAPITAL INSURED MUNICIPAL TRUST AT $15 PER SHARE

 INITIAL PUBLIC OFFERING OF 22 MILLION COMMON SHARES OF BENEFICIAL
 INTEREST OF INTERCAPITAL INSURED MUNICIPAL TRUST AT $15 PER SHARE
 NEW YORK, Feb. 21 /PRNewswire/ -- Dean Witter Reynolds Inc., as manager of the underwriting group, announced today the initial public offering of 22 million common shares of beneficial interest of InterCapital Insured Municipal Trust at a price of $15 per share. The trust has granted the underwriters an option to purchase up to an additional 3,300,000 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 "IMT."
 InterCapital Insured Municipal Trust is a newly organized, closed end diversified management investment company which seeks to provide current income exempt from federal income tax. The trust will seek to achieve its investment objective by investing primarily in a diversified portfolio of tax-exempt Municipal Obligations which are covered by insurance guarantees with respect to timely payment of principal and interest thereon. The trust will also invest in 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- 2/21/92
 /CONTACT: Barbara Hynes of InterCapital Insured Municipal Trust, 212-921-1060/
 (IMT) CO: InterCapital Insured Municipal Trust ST: New York IN: FIN SU: ERN


TS -- NY021 -- 1348 02/21/92 11:21 EST
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Publication:PR Newswire
Date:Feb 21, 1992
Words:238
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