Siemion Huckabay

MICHIGAN INVESTOR IS THE FIRST TO FILE A SHAREHOLDERS' RIGHTS CLAIMS AGAINST MORGAN STANLEY DEAN WITTER, FOR IMPROPER MARKETING OF ITS MUTUAL FUNDS

DETROIT, October 25, 2003
A shareholders' rights action has been filed by the law firm of Siemion Huckabay, et al. P.C. on behalf of an accredited investor and all persons or entities who purchased or otherwise acquired securities of the Morgan Stanley Dean Witter family of proprietary funds (the "Funds"), between October 1, 1999 and December 31, 2002, inclusive (the "Class Period"). The Complaint, which was filed on October 16, 2003, is filed in the United States District Court for the District of New York, case number 03-CV-8208. The Funds, and the symbols for the respective Funds named below, are as follows:

Morgan Stanley Dean Witter American Opportunities Fund (NASDAQ: AMOBX)
Morgan Stanley Dean Witter Technology Fund (NASDAQ: MSITX), (NASDAQ: ITPBX), and (NASDAQ: UTEPX)

The Complaint alleges that Morgan Stanley violated Sections 11 and 15 of the Securities Act of 1933; Sections 10(b) and 20(a) of the Securities Exchange Act of 1934; and Rule 10b-5 promulgated thereunder; and Section 206 of the Investment Advisers Act of 1940. The Complaint charges that, throughout the Class Period, Morgan Stanley failed to disclose that it provided its brokers improper commissions (e.g., cash bonuses, incentive compensation programs, business development funds, and miscellaneous prizes) to marketed proprietary mutual funds to investors.

If you bought the securities of any of the Funds between October 1, 1999 and December 31, 2002 and sustained damages, you may, no later than December 15, 2003, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Traditionally, the court will appoint a shareholder(s) with a substantial investment in the covered securities, including accredited and institutional investors, as lead plaintiff if they have retained counsel and actively join the shareholders' rights action by the established deadline. You may retain Siemion Huckabay, or other counsel of your choice, to serve as your counsel in this action.

Interestingly, on October 23, 2003, the Wall Street Journal ran an article that detailed that the Securities and Exchange Commission is scrutinizing Morgan Stanley's mutual fund practice. In August 2003, it was announced that the Office of the Massachusetts Attorney General launched an investigation into whether Morgan Stanley brokers' marketing techniques were improper.

Established in 1981, Siemion Huckabay, et al., P.C. is a civil litigation law firm, based in metropolitan Detroit. If you wish to discuss the action, please contact plaintiff's counsel, Andrew J. Morganti by e-mail at amorganti@siemion-huckabay.com.