Certain Morgan Stanley Closed-End Funds Declare Quarterly Dividends

The Morgan Stanley closed-end funds listed below (the “Funds”) today declared the following dividends.

For more information call: 1-800-231-2608.

The amount of net investment income to be paid by the funds is determined in accordance with federal income tax regulations. It is possible, that all or a portion of the funds’ fiscal year 2010 dividend may be a return of capital and that determination cannot yet be made.

The amount of dividends paid by each fund may vary from time to time. Past amounts of dividends are no guarantee of future dividend payment amounts.

The final determination of the source and tax characteristics of all distributions in 2010 will be made after the end of the year.

Investing involves risk and it is possible to lose money on any investment in the Funds.

In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, the Funds will provide its shareholders of record on the record date with a Section 19 Notice disclosing the sources of its dividend payment when a distribution includes anything other than net investment income. The Section 19 Notice is not provided for tax reporting purposes but for informational purposes only.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has over 750 investment professionals around the world and approximately $251 billion in assets under management or supervision as of June 30, 2010. MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 42 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.