Certain Morgan Stanley Closed-End Funds Declare Mid-Year Dividends

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






Short-Term Capital Gains Per Share

Long-Term Capital Gains Per Share





*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 2018 dividend
may be a return of capital and that determination cannot yet be made.

The amount of dividends paid by each of the Funds 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 2018 will be made after the end of the year.

Morgan Stanley Investment Management, together with its investment
advisory affiliates, has more than 600 investment professionals around
the world and $469 billion in assets under management or supervision as
of March 31, 2018. Morgan Stanley Investment Management 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. For further information about Morgan Stanley
Investment Management, please visit www.morganstanley.com/im

Morgan Stanley is a leading global financial services firm providing
investment banking, securities, wealth management and investment
management services. With offices in more than 41 countries, the Firm’s
employees serve clients worldwide including corporations, governments,
institutions and individuals. For more 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.

Morgan Stanley Investment Management does not provide tax advice. Investors
should always consult a legal or tax professional for information
concerning their individual situation.

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

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