"This is the first new fund launched by Van Kampen in four years, and broadens the spectrum of Van Kampen equity funds while offering investors what we believe is an interesting complement to their domestic equity allocation," said Michael Kiley, President and Chief Executive Officer of Van Kampen Investments.

The portfolio management team's investment philosophy is to seek companies with strong franchise qualities and compelling valuations that have a sustainable competitive advantage over rivals because intangible assets - such as brand names, patents, licenses and distribution systems - can be difficult to create or replicate.

The Fund will be managed by a five-member team led by Hassan Elmasry, a 20-year veteran of the investment management industry. The team brings with it the valuable experience of managing the Van Kampen Global Franchise Fund, with more than $2 billion in assets(1).

A rigorous evaluation process is expected to yield a concentrated portfolio of 20-40 stocks for the American Franchise Fund. In searching for securities of companies that represent a great business at a compelling valuation, the team has long believed that the capital intensity of a business and the nature of its intangible assets are the best framework for evaluation across sectors and industries. The team will also employ a risk management process that emphasizes resilient franchises.

The fund will be offered to retail investors in A- B- and C-shares, with a minimum investment of $1,000 within one year of purchase.

Van Kampen is one of the nation's largest investment management companies, with more than $99 billion in assets under management or supervision as of May 31, 2005. With roots in money management dating back to 1927, Van Kampen has helped more than four generations of investors work toward their financial goals.

Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus contains this and other information about the fund. To obtain a prospectus, contact your financial advisor, or download one at vankampen.com. Please read the prospectus carefully before investing.

PRIMARY RISKS: There is no assurance that a mutual fund will achieve its investment objective. Funds are subject to market risk, which is the possibility that the market values of securities owned by the fund will decline and that the value of fund shares may therefore be less than what you paid for them. Accordingly, you can lose money investing in this fund. Please be aware that this fund is subject to certain additional risks, including those associated with: Derivative instruments. Investments in derivatives could magnify volatility. Nondiversification. Nondiversified funds often invest in a more limited number of issuers. As such, changes in the financial condition or market value of a single issuer may cause greater volatility. Foreign securities. The fund may invest in foreign securities; should it do so, the portfolio may be subject to additional currency, political, economic, and market risks.

(1) As of April 30, 2005

Source: Business Wire