-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Mr3AzN2lvAfSwA07IEyN/P1Ptt9SCTviC10a9flqaPZCA5mHZ2XaOIoknWkbcx4I DTv0yMpcoNWBdls17Vmizg== 0000950137-04-010339.txt : 20041123 0000950137-04-010339.hdr.sgml : 20041123 20041123114856 ACCESSION NUMBER: 0000950137-04-010339 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040930 FILED AS OF DATE: 20041123 DATE AS OF CHANGE: 20041123 EFFECTIVENESS DATE: 20041123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VAN KAMPEN HIGH INCOME TRUST CENTRAL INDEX KEY: 0000843506 IRS NUMBER: 363616859 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-05707 FILM NUMBER: 041162857 BUSINESS ADDRESS: STREET 1: VAN KAMPEN INVESTMENTS INC. STREET 2: 1221 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2127625441 MAIL ADDRESS: STREET 1: VAN KAMPEN INVESTMENTS INC. STREET 2: 1221 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 FORMER COMPANY: FORMER CONFORMED NAME: VAN KAMPEN AMERICAN CAPITAL INTERMEDIATE TERM HIGH INCOME TR DATE OF NAME CHANGE: 19960102 FORMER COMPANY: FORMER CONFORMED NAME: VAN KAMPEN MERRITT INTERMEDIATE TERM HIGH INCOME TRUST DATE OF NAME CHANGE: 19920703 N-Q 1 c89674nvq.txt QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-5707 Van Kampen High Income Trust - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) 1221 Avenue of the Americas, New York, New York 10020 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Ronald Robison 1221 Avenue of the Americas, New York, New York 10020 - -------------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: 212-762-4000 Date of fiscal year end: 12/31 Date of reporting period: 9/30/04 Item 1. Schedule of Investments. The Trust's schedule of investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows: VAN KAMPEN HIGH INCOME TRUST PORTFOLIO OF INVESTMENTS SEPTEMBER 30, 2004 (UNAUDITED)
PAR AMOUNT (000) DESCRIPTION COUPON MATURITY VALUE CORPORATE BONDS 170.2% BROADCASTING 3.1% $ 170 Granite Broadcasting Corp. 9.750 % 12/01/10 $ 158,100 295 Salem Communications Corp. 7.750 12/15/10 312,700 1,080 TV Azteca SA (Mexico) 10.500 02/15/07 1,107,000 ------------------ 1,577,800 ------------------ CABLE 7.8% 575 Cablevision Systems Corp., 144A - Private Placement (a) (b) 5.670 04/01/09 600,875 1,005 Charter Communications Holdings LLC 9.625 11/15/09 796,462 160 DirecTV Holdings LLC 8.375 03/15/13 182,800 855 Echostar DBS Corp. 6.375 10/01/11 869,962 580 Kabel Deutschland GmbH, 144A - Private Placement (Germany) (a) 10.625 07/01/14 635,100 850 PanAmSat Corp., 144A - Private Placement (a) 9.000 08/15/14 888,250 ------------------ 3,973,449 ------------------ CHEMICALS 13.1% 610 Equistar Chemicals LP 10.125 09/01/08 690,825 350 Equistar Chemicals LP 10.625 05/01/11 400,750 245 FMC Corp. 10.250 11/01/09 287,262 190 Huntsman Advanced Materials LLC, 144A - Private Placement (a) 11.000 07/15/10 221,350 265 Innophos, Inc.,144A - Private Placement (a) 8.875 08/15/14 283,550 190 ISP Chemco, Inc. 10.250 07/01/11 212,800 900 ISP Holdings, Inc. 10.625 12/15/09 994,500 145 Koppers, Inc. 9.875 10/15/13 160,950 780 Lyondell Chemical Co. 10.500 06/01/13 904,800 55 Millennium America, Inc. 7.000 11/15/06 57,337 520 Millennium America, Inc. 9.250 06/15/08 575,900 535 Nalco Co. 7.750 11/15/11 569,775 495 Rhodia SA (France) 8.875 06/01/11 433,125 600 Rockwood Specialties Group, Inc. 10.625 05/15/11 663,000 137 Westlake Chemical Corp. 8.750 07/15/11 154,467 ------------------ 6,610,391 ------------------ CONSUMER PRODUCTS 3.7% 270 Amscan Holdings, Inc., 144A - Private Placement (a) 8.750 05/01/14 276,750 210 Oxford Industrials, Inc., 144A - Private Placement (a) 8.875 06/01/11 228,900 830 Phillips Van-Heusen Corp. 7.250 02/15/11 867,350 315 Rayovac Corp. 8.500 10/01/13 343,350 158 Tempur Pedic, Inc. 10.250 08/15/10 180,515 ------------------ 1,896,865 ------------------
DIVERSIFIED MEDIA 10.8% 832 Advanstar Communications, Inc. (b) 9.220 08/15/08 869,022 655 Alliance Atlantis Communications, Inc. (Canada) 13.000 12/15/09 711,494 750 CanWest Media, Inc. (Canada) 10.625 05/15/11 856,875 655 Houghton Mifflin Co. 9.875 02/01/13 691,025 625 Marquee, Inc., 144A - Private Placement (a) (b) 5.970 08/15/10 646,875 190 Marquee, Inc., 144A - Private Placement (a) 8.625 08/15/12 202,350 150 PEI Holdings, Inc. 11.000 03/15/10 174,937 860 Primedia, Inc. 8.875 05/15/11 864,300 400 Vertis, Inc. 9.750 04/01/09 432,000 ------------------ 5,448,878 ------------------ ENERGY 16.6% 335 BRL Universal Equipment 8.875 02/15/08 358,450 455 CHC Helicopter Corp. (Canada) 7.375 05/01/14 476,612 220 Citgo Petroleum Corp. 11.375 02/01/11 260,150 905 El Paso Production Holding Co. 7.750 06/01/13 911,787 860 Frontier Oil Corp., 144A - Private Placement (a) (c) 6.625 10/01/11 875,050 97 Gulfterra Energy Partners LP 8.500 06/01/10 113,369 385 Gulfterra Energy Partners LP 10.625 12/01/12 485,100 90 Hanover Compressor Co. 8.625 12/15/10 98,100 385 Hanover Compressor Co. 9.000 06/01/14 424,462 375 Hanover Equipment Trust 8.500 09/01/08 405,000 160 Hanover Equipment Trust 8.750 09/01/11 175,600 550 Hilcorp Energy Finance Corp., 144A - Private Placement (a) 10.500 09/01/10 611,875 188 Magnum Hunter Resources, Inc. 9.600 03/15/12 213,380 375 Pacific Energy Partners, 144A - Private Placement (a) 7.125 06/15/14 407,812 850 Plains Exploration & Production Co., 144A - Private Placement (a) 7.125 06/15/14 915,875 305 Port Arthur Finance Corp. 12.500 01/15/09 356,710 180 Tesoro Petroleum Corp. 9.625 04/01/12 209,250 1,025 Vintage Petroleum, Inc. 7.875 05/15/11 1,101,875 ------------------ 8,400,457 ------------------ FINANCIAL 1.4% 680 Refco Finance Holdings LLC, 144A - Private Placement (a) 9.000 08/01/12 729,300 ------------------ FOOD & DRUG 4.0% 690 Delhaize America, Inc. 8.125 04/15/11 791,447 150 Jean Coutu Group (PJC), Inc., 144A - Private Placement (Canada) (a) 7.625 08/01/12 153,375 725 Jean Coutu Group (PJC), Inc., 144A - Private Placement (Canada) (a) 8.500 08/01/14 723,187 1,570 Jitney-Jungle Stores America, Inc. (d) (e) (f) 12.000 03/01/06 0 360 Rite Aid Corp. 8.125 05/01/10 379,800 ------------------ 2,047,809 ------------------ FOOD & TOBACCO 8.1% 750 Constellation Brands, Inc. 8.000 02/15/08 829,687 340 Michael Foods, Inc. 8.000 11/15/13 357,850 210 Pilgrim's Pride Corp. 9.250 11/15/13 232,050
765 Pilgrim's Pride Corp. 9.625 09/15/11 860,625 600 Smithfield Foods, Inc. 7.625 02/15/08 643,500 1,050 Smithfield Foods, Inc. 8.000 10/15/09 1,162,875 ------------------ 4,086,587 ------------------ FOREST PRODUCTS 13.2% 1,020 Abitibi-Consolidated, Inc. (Canada) 6.000 06/20/13 943,500 330 Abitibi-Consolidated, Inc. (Canada) 8.550 08/01/10 355,575 535 Georgia-Pacific Corp. 8.875 02/01/10 628,625 775 Graphic Packaging International, Inc. 9.500 08/15/13 889,312 560 MDP Acquisitions PLC (Ireland) 9.625 10/01/12 635,600 235 Norampac, Inc. (Canada) 6.750 06/01/13 246,162 1,350 Owens-Brockway Glass Containers, Inc. 8.875 02/15/09 1,474,875 495 Pliant Corp. 13.000 06/01/10 428,175 1,065 Tembec Industries, Inc. (Canada) 7.750 03/15/12 1,075,650 ------------------ 6,677,474 ------------------ GAMING & LEISURE 16.9% 425 Caesars Entertainment 8.875 09/15/08 485,562 920 Harrahs Operating Co., Inc. 7.875 12/15/05 974,050 290 Hilton Hotels Corp. 7.625 12/01/12 338,575 176 HMH Properties, Inc. 7.875 08/01/08 181,940 275 Host Marriott LP 7.125 11/01/13 290,125 650 Intrawest Corp., 144A - Private Placement (Canada) (a) (c) 7.500 10/15/13 676,812 1,095 Isle of Capri Casinos, Inc. 7.000 03/01/14 1,105,950 150 MGM Mirage, Inc. 5.875 02/27/14 145,125 1,080 MGM Mirage, Inc. 6.000 10/01/09 1,100,250 40 MGM Mirage, Inc., 144A - Private Placement (a) 6.000 10/01/09 40,750 865 Mohegan Tribal Gaming Authority, 144A - Private Placement (a) 7.125 08/15/14 910,412 490 Park Place Entertainment Corp. 7.875 12/15/05 516,950 1,075 Starwood Hotels & Resorts Worldwide, Inc. 7.375 05/01/07 1,163,688 625 Station Casinos, Inc. 6.000 04/01/12 643,750 ------------------ 8,573,939 ------------------ HEALTHCARE 10.4% 655 AmerisourceBergen Corp. 8.125 09/01/08 730,325 1,140 Extendicare Health Services, Inc. 6.875 05/01/14 1,168,500 400 Fisher Scientific International, Inc. 8.125 05/01/12 448,000 160 Fisher Scientific International, Inc., 144A - Private Placement (a) 6.750 08/15/14 168,800 560 Fresenius Medical Care Capital Trust II 7.875 02/01/08 613,200 235 Fresenius Medical Care Capital Trust IV 7.875 06/15/11 262,025 85 National Nephrology Associates, Inc., 144A - Private Placement (a) 9.000 11/01/11 98,706 410 Team Health, Inc., 144A - Private Placement (a) 9.000 04/01/12 410,000 435 Tenet Healthcare Corp., 144A - Private Placement (a) 9.875 07/01/14 456,750 190 VWR International, Inc., 144A - Private Placement (a) 6.875 04/15/12 199,500 650 VWR International, Inc., 144A - Private Placement (a) 8.000 04/15/14 690,625 ------------------ 5,246,431 ------------------ HOUSING 8.9%
104 CB Richard Ellis Service, Inc. 9.750 05/15/10 118,300 545 CB Richard Ellis Service, Inc. 11.250 06/15/11 639,013 625 Interface, Inc. 9.500 02/01/14 650,000 615 Nortek Holdings, Inc., 144A - Private Placement (a) 8.500 09/01/14 647,288 875 Ply Gem Industries, Inc., 144A - Private Placement (a) 9.000 02/15/12 877,188 645 Technical Olympic USA, Inc. 9.000 07/01/10 709,500 290 Technical Olympic USA, Inc. 9.000 07/01/10 319,000 310 Technical Olympic USA, Inc. 10.375 07/01/12 348,750 190 WII Components, Inc. 10.000 02/15/12 185,250 ------------------ 4,494,289 ------------------ INFORMATION TECHNOLOGY 4.3% 445 Iron Mountain, Inc. 7.750 01/15/15 473,925 770 Iron Mountain, Inc. 8.625 04/01/13 839,300 800 Xerox Corp. 7.125 06/15/10 858,000 ------------------ 2,171,225 ------------------ MANUFACTURING 5.1% 155 Flowserve Corp. 12.250 08/15/10 175,925 530 Johnsondiversey, Inc. 9.625 05/15/12 596,250 675 Manitowoc, Inc. 10.500 08/01/12 781,313 1,010 Trimas Corp. 9.875 06/15/12 1,052,925 ------------------ 2,606,413 ------------------ METALS 2.8% 191 Doe Run Resources Corp. (Acquired 02/15/01, Cost $167,821) (f) (g) (h) 11.750 11/01/08 163,513 140 Foundation PA Coal Co., 144A - Private Placement (a) 7.250 08/01/14 149,450 210 General Cable Corp. 9.500 11/15/10 234,150 440 UCAR Finance, Inc. 10.250 02/15/12 506,000 337 United States Steel Corp. 9.750 05/15/10 387,550 ------------------ 1,440,663 ------------------ RETAIL 1.6% 67 Big 5 Corp. 10.875 11/15/07 69,094 290 General Nutrition Centers, Inc. 8.500 12/01/10 297,975 425 Petro Stopping Center Financial 9.000 02/15/12 452,625 ------------------ 819,694 ------------------ SERVICES 7.5% 45 Allied Waste North America, Inc. 7.875 04/15/13 47,700 1,500 Allied Waste North America, Inc. 8.875 04/01/08 1,635,000 510 Buhrmann US, Inc., 144A - Private Placement (a) 8.250 07/01/14 512,550 405 MSW Energy Holdings II LLC 7.375 09/01/10 427,275 85 MSW Energy Holdings LLC 8.500 09/01/10 93,500 390 United Rentals North America, Inc. 6.500 02/15/12 377,325 740 United Rentals North America, Inc. 7.750 11/15/13 697,450 ------------------ 3,790,800 ------------------ TELECOMMUNICATIONS 6.3% 605 Axtel SA (Mexico) 11.000 12/15/13 623,150 860 Cincinnati Bell, Inc. 7.250 07/15/13 832,050 280 Exodus Communications, Inc. (d) (e) (f) 11.250 07/01/08 0
430 Qwest Communications International, Inc., 144A - Private Placement (a) (b) 5.211 02/15/09 411,725 710 Qwest Corp. 6.625 09/15/05 733,075 575 Qwest Corp., 144A - Private Placement (a) 7.875 09/01/11 599,438 ------------------ 3,199,438 ------------------ TRANSPORTATION 7.1% 450 Autonation, Inc. 9.000 08/01/08 519,750 585 Laidlaw International, Inc. 10.750 06/15/11 670,556 1,065 Sonic Automotive, Inc. 8.625 08/15/13 1,131,563 1,100 TRW Automotive, Inc. 9.375 02/15/13 1,262,250 ------------------ 3,584,119 ------------------ UTILITY 12.1% 485 AES Corp. 7.750 03/01/14 503,188 23 AES Corp. 8.875 02/15/11 25,703 73 AES Corp. 9.375 09/15/10 82,581 725 Calpine Corp., 144A - Private Placement (a) 8.500 07/15/10 558,250 65 CMS Energy Corp. 7.500 01/15/09 68,413 405 CMS Energy Corp. 8.500 04/15/11 443,475 605 Dynegy Holdings, Inc. 6.875 04/01/11 579,288 345 Dynegy Holdings, Inc., 144A - Private Placement (a) 9.875 07/15/10 391,575 235 IPALCO Enterprises, Inc. 8.625 11/14/11 266,725 485 Monongahela Power Co. 5.000 10/01/06 504,249 290 Nevada Power Co. 8.250 06/01/11 326,250 490 Nevada Power Co. 9.000 08/15/13 565,950 385 PSEG Energy Holdings, Inc. 7.750 04/16/07 412,913 20 PSEG Energy Holdings, Inc. 8.625 02/15/08 22,150 195 Southern Natural Gas Co. 8.875 03/15/10 220,350 785 TNP Enterprises, Inc. 10.250 04/01/10 847,800 270 Trans Continental Gas Pipe Line Corp. 8.875 07/15/12 329,738 ------------------ 6,148,598 ------------------ WIRELESS COMMUNICATIONS 5.4% 590 Centennial Communications, 144A - Private Placement (a) 8.125 02/01/14 565,663 1,275 Nextel Communications, Inc. 6.875 10/31/13 1,332,375 250 Rural Cellular Corp., 144A - Private Placement (a) (b) 6.380 03/15/10 255,625 575 Rural Cellular Corp., 144A - Private Placement (a) 8.250 03/15/12 587,938 ------------------ 2,741,601 ------------------ TOTAL CORPORATE BONDS 170.2% 86,266,220 ------------------ DESCRIPTION VALUE EQUITIES 0.5% DecisionOne Corp. (3,033 common shares) (f) (i) 0 DecisionOne Corp. (6,670 common stock warrants) (f) (i) 0 Doe Run Resources Corp. (1 common stock warrant) (f) (i) 0 HCI Direct, Inc. (30,357 common shares) (f) (i) 236,784
Hosiery Corp of America, Inc. (500 common shares) (f) (i) 0 VS Holdings, Inc. (11,316 common shares) (f) (i) 2,113 ------------------ TOTAL EQUITIES 0.5% 238,897 ------------------ TOTAL LONG-TERM INVESTMENTS 170.7% (Cost $85,437,847) 86,505,117 REPURCHASE AGREEMENT 3.6% State Street Bank & Trust Co. ($1,841,000 par collateralized by U.S. Government obligations in a pooled cash account, interest rate of 1.82%, dated 09/30/04, to be sold on 10/01/04 at $1,841,093) 1,841,000 ------------------ (Cost $1,841,000) TOTAL INVESTMENTS 174.3% (Cost $87,278,847) 88,346,117 LIABILITIES IN EXCESS OF OTHER ASSETS (0.1%) (42,955) PREFERRED SHARES (INCLUDING ACCRUED DISTRIBUTIONS) (74.2%) (37,630,916) ------------------ NET ASSETS APPLICABLE TO COMMON SHARES 100.0% $50,672,246 ==================
Percentages are calculated as a percentage of net assets applicable to common shares. (a) 144A securities are those which are exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration which are normally those transactions with qualified institutional buyers. (b) Variable rate security. Interest rate shown is that in effect at September 30, 2004. (c) Security purchased on a when-issued or delayed delivery basis. (d) Non-income producing as security is in default. (e) This borrower has filed for protection in federal bankruptcy court. (f) Market value is determined in accordance with procedures established in good faith by the Board of Trustees. (g) Payment-in-kind security. (h) These securities are restricted and may be resold only in transactions exempt from registration which are normally those transactions with qualified institutional buyers. Restricted securities comprise 0.3% of net assets applicable to common shares. (i) Non-income producing security. Item 2. Controls and Procedures. (a) The Trust's principal executive officer and principal financial officer have concluded that the Trust's disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Trust in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, based upon such officers' evaluation of these controls and procedures as of a date within 90 days of the filing date of the report. (b) There were no changes in the Trust's internal control over financial reporting that occurred during the registrant's fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting. Item 3. Exhibits. (a) A certification for the Principal Executive Officer of the registrant is attached hereto as part of EX-99.cert. (b) A certification for the Principal Financial Officer of the registrant is attached hereto as part of EX-99.cert. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Van Kampen High Income Trust By: /s/ Ronald E. Robison --------------------- Name: Ronald E. Robison Title: Principal Executive Officer Date: November 19, 2004 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Ronald E. Robison ---------------------- Name: Ronald E. Robison Title: Principal Executive Officer Date: November 19, 2004 By: /s/ James M. Dykas ------------------- Name: James M. Dykas Title: Principal Financial Officer Date: November 19, 2004 EX-99.CERT 2 c89674exv99wcert.txt CERTIFICATIONS I, Ronald E. Robison, certify that: 1. I have reviewed this report on Form N-Q of Van Kampen High Income Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Omitted; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 19, 2004 /s/ Ronald E. Robison --------------------- Principal Executive Officer I, James Dykas, certify that: 1. I have reviewed this report on Form N-Q of Van Kampen High Income Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Omitted; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 19, 2004 /s/ James M. Dykas ------------------ Principal Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----