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INTERCAPITAL INSURED MUNICIPAL TRUST OFFERS 3,600 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE

 INTERCAPITAL INSURED MUNICIPAL TRUST OFFERS
 3,600 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE
 NEW YORK, April 3 /PRNewswire/ -- Dean Witter Reynolds Inc. and Merrill Lynch & Co. announced the public offering on April 2, 1992, of 1,800 Series TU Auction Rate Preferred Shares and 1,800 Series TH Auction Rate Preferred Shares (ARPS) of InterCapital Insured Municipal 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. After the initial dividend period, it is expected that each subsequent dividend period for Series TU ARPS and Series TH ARPS will be a 7-day dividend period.
 The initial dividend rate for the ARPS will be 3.60 percent per annum for Series TU and 3.60 percent per annum for Series TH. Thereafter, the dividend rate for each subsequent dividend period will be reset according to bids, hold orders and sell orders placed by existing and potential holders in an auction.
 InterCapital Insured Municipal 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 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 insure timely payment of principal and interest thereon.
 -0- 4/3/92
 /CONTACT: Barbara Hynes of Gavin Anderson Doremus & Company, 212-921-1060, for InterCapital/ CO: InterCapital Insured Municipal Trust ST: New York IN: FIN SU: OFR


TS -- NY033 -- 5441 04/03/92 11:47 EST
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Publication:PR Newswire
Date:Apr 3, 1992
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