Van Kampen Dynamic Credit Opportunities Fund (NYSE: VTA) declared today an initial dividend of $0.1517 per share, payable on September 28, 2007 for shareholders of record on September 14, 2007. This distribution equates to a current annualized distribution rate of 9.1% based on the $20.00 offering price, a 10.24% annualized distribution rate based on today's closing price of $17.77, and a 9.77% annualized distribution rate based on the current NAV of $18.631.

Van Kampen Dynamic Credit Opportunities Fund (the ?Fund?) is a closed-end management investment company that seeks a high level of current income with a secondary objective of capital appreciation. By opportunistically investing among different categories of investments at different points in the credit cycle, the Fund seeks to achieve a higher risk adjusted return relative to other high yielding investments. Leveraging the combined expertise and complementary philosophies of Van Kampen Asset Management (?Van Kampen?), the Fund's investment adviser, and Avenue Europe International Management, L.P. (?Avenue?), the Fund's investment subadviser, each of which manage a portion of the Fund's assets, the Fund invests in a broad spectrum of credit investments ranging from senior secured bank loans to stressed and distressed debt. In order to maximize risk adjusted returns, the Fund invests among different categories of investments at different points in the credit cycle using a combination of thorough credit analysis, broad diversification among holdings and sophisticated risk management techniques.

Van Kampen and Avenue are building the portfolio, with approximately 49% of the assets invested as of August 3, 2007. The portfolio currently is invested in over 153 holdings and has an average credit quality of B/B2.

Market Commentary

Van Kampen and Avenue believe that the recent volatility of the senior loan market is the result of an unusual confluence of events affecting the primary and secondary markets for all credit products. This volatility has been driven by a number of factors, including a supply and demand imbalance as some investors have scaled back purchases of credit products, including senior loans, while other investors have sold off securities and other credit vehicles, including senior loans. While this volatility has caused loan prices to move down, given the Fund's current 51% cash position, Van Kampen and Avenue believe the current market may provide an opportunity for the Fund to purchase assets at attractive prices and yields. The current market volatility also may have created an opportunity in the marketplace for additional capital appreciation.

Christina Jamieson, Managing Director and Portfolio Manager with Van Kampen said, "In many ways we could not have asked for better timing for the launch of Van Kampen Dynamic Credit Opportunities Fund. While loan portfolios, including the Fund, have been affected by the volatility in the credit markets, we are excited by the additional value that has developed in the credit markets since the initial public offering date. Current market conditions have allowed us to take advantage of the recent sell-off in the credit markets in order to further our goals of seeking high current income, and secondarily, capital appreciation.?

Rich Furst of Avenue Capital points out that, "Current market conditions in Europe are also presenting more value than we originally expected at this point in the cycle. We have been deploying capital carefully to take advantage of widening spreads."

Van Kampen Investments Inc.

Van Kampen Asset Management is a wholly owned subsidiary of Van Kampen Investments Inc. Van Kampen Investments Inc. is one of the nation's largest investment management companies, with approximately $123 billion in assets under management or supervision, as of June 30, 2007. With roots in money management dating back to 1927, Van Kampen Investments Inc. has helped nearly four generations of investors achieve their financial goals. For more information, visit Van Kampen Investment Inc.'s website at www.vankampen.com.

Avenue Capital Group

Formed in 2004, Avenue is one of three registered investment advisers that comprise Avenue Capital Group, which began in 1995 and primarily focuses on distressed and undervalued credit-related securities (both public and private), bank loans, trade claims and private investments (debt and equities).

Avenue is headquartered in New York, with affiliate offices in London, Luxembourg, and eight offices throughout Asia. Avenue Capital Group manages assets valued at approximately $17.6 billion as of June 30, 2007. Avenue Capital Group draws on the skills and experience of more than 290 employees.

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. 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. A copy of the prospectus may be obtained by contacting your financial advisor or by calling 800.341.2929. Please read the prospectus carefully before investing.

1 Past performance is no guarantee of future results. 

    Not FDIC Insured - Offer Not Bank Guaranteed - May Lose Value
Not Insured By Any Federal Government Agency - Not A Deposit

Copyright ©2007 Van Kampen Funds Inc. All Rights Reserved. Member NASD/SIPC.

Van Kampen Funds Inc.
1-800-341-2929