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INTERCAPITAL INSURED MUNICIPAL INCOME TRUST OFFERS 5,000 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE

 NEW YORK, April 7 /PRNewswire/ -- Dean Witter Distributors Inc. and Merrill Lynch & Co. announced today the public offering of 1,000 Series 1 Auction Rate Preferred Shares (ARPS), 1,000 Series 2 ARPS, 1,000 Series 3 ARPS, 1,000 Series 4 ARPS and 1,000 Series 5 ARPS of InterCapital Insured Municipal Income Trust at a price of $50,000 per share. The ARPS will be preferred shares of the trust that entitle their holders to receive cash dividends at a rate that may vary for successive dividend periods. It is expected that the initial dividend period for Series 1 ARPS will be a seven-day dividend period, for Series 2 ARPS will be a three-month period, for Series 3 ARPS will be a six- month period, for Series 4 ARPS will be a nine-month period and for Series 5 ARPS will be a 12-month period. Subsequent dividend periods may vary from seven days to five years.
 The initial dividend rate for the ARPS will be 2.375 percent per annum for Series 1, 2.60 percent per annum for Series 2, 2.875 percent per annum for Series 3, 3.00 percent per annum for Series 4 and 3.125 percent per annum for Series 5. Thereafter, the dividend rate for each subsequent dividend period will be reset according to bid orders, hold orders and sell orders placed by existing and potential holders in an auction.
 InterCapital Insured Municipal Income Trust is a 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- 4/7/93
 /CONTACT: Ross Piro of Dean Witter Distributors Inc., 212-392-4802/


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

SM-LR -- NY050 -- 3849 04/07/93 15:04 EDT
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Publication:PR Newswire
Date:Apr 7, 1993
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