497 1 e497.txt DEFINITIVE MATERIALS 1 VAN KAMPEN RESERVE FUND SUPPLEMENT DATED AUGUST 10, 2000 TO THE STATEMENT OF ADDITIONAL INFORMATION DATED SEPTEMBER 28, 1999, SUPERSEDING ALL PRIOR SUPPLEMENTS The Statement of Additional Information is hereby supplemented as follows: (1) The section entitled "TRUSTEES AND OFFICERS" is hereby amended by deleting all information pertaining to Paul G. Yovovich, effective April 14, 2000, and Richard M. DeMartini and Don G. Powell, effective December 15, 1999. (2) The section entitled "TRUSTEES AND OFFICERS--TRUSTEES" is hereby amended, effective December 15, 1999, by adding the following: Mitchell M. Merin*................... President and Chief Operating Officer of asset management of Two World Trade Center Morgan Stanley Dean Witter since December 1998. President 66th Floor and Director since April 1997 and Chief Executive Officer New York, NY 10048 since June 1998 of Morgan Stanley Dean Witter Advisors Inc. Date of Birth: 08/13/53 and Morgan Stanley Dean Witter Services Company Inc. Age: 46 Chairman, Chief Executive Officer and Director of Morgan Stanley Dean Witter Distributors Inc. since June 1998. Chairman and Chief Executive Officer since June 1998, and Director since January 1998, of Morgan Stanley Dean Witter Trust FSB. Director of various Morgan Stanley Dean Witter subsidiaries. President of the Morgan Stanley Dean Witter funds and Discover Brokerage Index Series since May 1999. Trustee/Director of each of the funds in the Fund Complex, and Vice President of other investment companies advised by the Advisers and their affiliates. Previously Chief Strategic Officer of Morgan Stanley Dean Witter Advisors Inc. and Morgan Stanley Dean Witter Services Company Inc. and Executive Vice President of Morgan Stanley Dean Witter Distributors Inc. April 1997-June 1998, Vice President of the Morgan Stanley Dean Witter Funds and Discover Brokerage Index Series May 1997-April 1999, and Executive Vice President of Dean Witter, Discover & Co. Richard F. Powers, III*.............. Chairman, President and Chief Executive Officer of Van 1 Parkview Plaza Kampen Investments. Chairman, Director and Chief Executive P.O. Box 5555 Officer of the Advisers, the Distributor, Van Kampen Oakbrook Terrace, IL 60181-5555 Advisors Inc. and Van Kampen Management Inc. Director and Date of Birth: 02/02/46 officer of certain other subsidiaries of Van Kampen Age: 54 Investments. Trustee/Director and President of each of the funds in the Fund Complex. Trustee, President and Chairman of the Board of other investment companies advised by the Advisers and their affiliates, and Chief Executive Officer of Van Kampen Exchange Fund. Prior to May 1998, Executive Vice President and Director of Marketing at Morgan Stanley Dean Witter and Director of Dean Witter Discover & Co. and Dean Witter Realty. Prior to 1996, Director of Dean Witter Reynolds Inc.
(3) The footnote at the end of the section entitled "TRUSTEES AND OFFICERS--TRUSTEES" is hereby deleted in its entirety and replaced with the following: * Such trustee is an "interested person" (within the meaning of Section 2(a)(19) of the 1940 Act). Mr. Whalen is an interested person of each of the funds in the Fund Complex by reason of his firm currently acting as legal counsel to each of the Funds in the Fund Complex. Messrs. Merin and Powers are interested persons of each of the Funds in the Fund Complex and the Advisers by reason of their positions with Morgan Stanley Dean Witter or its affiliates. RES SPT SAI 2 (4) The section entitled "TRUSTEES AND OFFICERS--OFFICERS" is hereby amended by deleting all information pertaining to Weston B. Wetherell, Sara L. Badler, Jacqueline F. Denter, and James M. Dykas, effective January 31, 2000, Dennis J. McDonnell, effective March 31, 2000, Edward C. Wood, III and Stephen L. Boyd, effective April 17, 2000, and Peter W. Hegel, effective May 31, 2000, and by adding the following: Stephen L. Boyd........................... Executive Vice President and Chief Investment Officer of Date of Birth: 11/16/40 Van Kampen Investments, and President and Chief Operating Executive Vice President and Officer of the Advisers. Executive Vice President and Chief Investment Officer Chief Investment Officer of each of the funds in the Fund Age: 59 Complex and certain other investment companies advised by the Advisers or their affiliates. Prior to April 2000, Vice President and Chief Investment Officer of the Advisers. Prior to October 1998, Vice President and Senior Portfolio Manager with AIM Capital Management, Inc. Prior to February 1998, Senior Vice President and Portfolio Manager of Van Kampen American Capital Asset Management, Inc., Van Kampen American Capital Investment Advisory Corp. and Van Kampen American Capital Management, Inc. John H. Zimmermann, III................... Senior Vice President and Director of Van Kampen Date of Birth: 11/25/57 Investments, President and Director of the Distributor Vice President and President of Van Kampen Insurance Agency of Illinois Age: 42 Inc. Vice President of each of the funds in the Fund Complex. From November 1992 to December 1997, Senior Vice President of the Distributor.
(5) The second sentence of the first paragraph immediately following the section entitled "TRUSTEES AND OFFICERS--OFFICERS" is hereby deleted in its entirety. (6) The footnote to the "CLASS A SHARES SALES CHARGE TABLE" at the end of the second paragraph in the section entitled "DISTRIBUTION AND SERVICE" is hereby deleted in its entirety and replaced with the following: * No sales charge is payable at the time of purchase on investments of $1 million or more, although the Fund may impose a contingent deferred sales charge of 1.00% on certain redemptions made within one year of purchase. A commission or transaction fee will be paid by the Distributor at the time of purchase directly out of the Distributor's assets (and not out of the Fund's assets) to authorized dealers who initiate and are responsible for purchases of $1 million or more computed on a percentage of the dollar value of such shares sold as follows: 1.00% on sales to $2 million, plus 0.80% on the next $1 million and 0.50% on the excess over $3 million. For single purchases of $20 million or more by an individual retail investor the Distributor will pay, at the time of purchase and directly out of the Distributor's assets (and not out of the Fund's assets), a commission or transaction fee of 1.00% to authorized dealers who initiate and are responsible for such purchases. The commission or transaction fee of 1.00% will be computed on a percentage of the dollar value of such shares sold. (7) The last paragraph in the section entitled "DISTRIBUTION AND SERVICE" is hereby amended by adding Buck Consultants, Inc. to the list of firms that have entered into agreements with the Distributor to offer shares of the Fund pursuant to such firm's retirement plan alliance programs. (8) The information in the section entitled "OTHER INFORMATION--INDEPENDENT ACCOUNTANTS" is hereby deleted in its entirety and replaced with the following: Independent accountants for the Fund perform an annual audit of the Fund's financial statements. The Fund's Board of Trustees has engaged Ernst & Young LLP, located at 233 South Wacker Drive, Chicago, Illinois 60606, to be the Fund's independent accountants, effective May 18, 2000. PricewaterhouseCoopers LLP, located at 200 East Randolph Drive, Chicago, Illinois 60601 ("PWC"), ceased being the Fund's independent accountants effective May 18, 2000. The cessation of the client-auditor relationship between the Fund and PWC was based solely on a possible future business relationship by PWC with an affiliate of the Fund's investment adviser. The change in independent accountants was approved by the Fund's audit committee and the Fund's Board of Trustees, including Trustees who are not "interested persons" of the Fund (as defined in the 1940 Act). RES SAI 400 RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE