ANNOUNCING . . .
VAN KAMPEN AMERICAN CAPITAL PRIME RATE INCOME TRUST
COMMENCEMENT OF TENDER OFFER
It is the policy of the Board of Trustees of the Van Kampen American Capital Prime Rate Income Trust to
consider on a quarterly basis whether to make a Tender Offer for common shares of the Trust. We are pleased
to announce that the Board has authorized the Trust's thirty-first consecutive quarterly Tender Offer commencing
on June 20, 1997, for the purpose of providing liquidity to its shareholders. The commencement of the Tender
Offer is announced in today's Wall Street Journal. Shareholders of the Trust will be able to exchange into Class B
Shares of eligible Van Kampen American Capital open-end funds excluding the Van Kampen American Capital
High Yield Municipal Fund and Van Kampen American Capital Growth Fund, which are closed to new
investors. Please note that the exchanged shares will retain the Early Withdrawal Charge schedule of the Trust.
The Trust is offering to purchase up to 43,213,147 of its common shares (approximately 7% of its issued and
outstanding common shares) at a price equal to the net asset value per common share of the Trust as of 5:00
P.M., Eastern Standard Time on July 18, 1997, the expiration date of the Tender Offer (unless extended). The
Tender Offer and the withdrawal rights expire at 12:00 Midnight Eastern Standard time on July 18, 1997, unless
the Tender Offer is extended. An "Early Withdrawal Charge" will be imposed on most common shares accepted
for payment that have been held for less than five years.
Terms and conditions of the tender offer are contained in the Trust's Offer to Purchase dated June 20, 1997, and
the related Letter of Transmittal. Copies are available to you upon request by calling the number listed below.
Shareholders may tender by completing and returning the Letter of Transmittal by July 18, 1997. Alternatively,
Selling Firms may tender account positions with a wire order redemption via NSCC Fund/SERV or by calling th