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<SEC-DOCUMENT>0001325358-08-000674.txt : 20081230
<SEC-HEADER>0001325358-08-000674.hdr.sgml : 20081230
<ACCEPTANCE-DATETIME>20081230132451
ACCESSION NUMBER:		0001325358-08-000674
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20081031
FILED AS OF DATE:		20081230
DATE AS OF CHANGE:		20081230
EFFECTIVENESS DATE:		20081230

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MORGAN STANLEY  INSURED MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0000885601
		IRS NUMBER:				133647663
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06590
		FILM NUMBER:		081275092

	BUSINESS ADDRESS:	
		STREET 1:		C/O MORGAN STANLEY TRUST
		STREET 2:		HARBORSIDE FINANCIAL CENTER, PLAZA TWO
		CITY:			JERSEY CITY
		STATE:			NJ
		ZIP:			07311
		BUSINESS PHONE:		(212) 869-6397

	MAIL ADDRESS:	
		STREET 1:		NULL

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MORGAN STANLEY DEAN WITTER INSURED MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19981221

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERCAPITAL INSURED MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19930211

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERCAPITAL INSURED MUNICIPAL TRUST II
		DATE OF NAME CHANGE:	19930112
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000 B000000 10/31/2008
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001 B000000 811-06590
001 C000000 2122966963
002 A000000 522 FIFTH AVENUE
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008 A000001 MORGAN STANLEY INVESTMENT ADVISORS INC.
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014 B000015 8-00000
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014 B000020 8-00000
014 A000021 MORGAN STANLEY INDIA COMPANY PRIVATE LIMITED
014 B000021 8-00000
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014 B000022 8-00000
014 A000023 MORGAN STANLEY MARKET PRODUCTS INC.
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014 A000024 MORGAN STANLEY SECURITIES LIMITED
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014 A000025 MORGAN STANLEY TAIWAN LIMITED
014 B000025 8-00000
014 A000026 MORGAN STANLEY, S.V., S.A.
014 B000026 8-00000
014 A000027 MS SECURITIES SERVICES INC.
014 B000027 8-26804
014 A000028 MUNICENTER
014 B000028 8-00000
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014 B000029 8-00000
014 A000030 PRIME DEALER SERVICES CORP.
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014 A000031 RMB MORGAN STANLEY
014 B000031 8-00000
014 A000032 VAN KAMPEN FUNDS INC.
014 B000032 8-19412
015 A000001 STATE STREET BANK AND TRUST COMPANY
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015 C010001 BOSTON
015 C020001 MA
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022 A000002 CITIGROUP GLOBAL MARKETS INC.
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022 B000010 34-1542819
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SIGNATURE   Anna Nosikovskaya
TITLE        Superviser
</TEXT>
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<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>iim77b.htm
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<BODY>
<PRE>
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Trustees of
Morgan Stanley Insured Municipal Income Trust:

In planning and performing our audit of the financial statements of Morgan Stanley Insured Municipal Income Trust (the &#147;Trust&#148;) as of and for the year ended October 31, 2008, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Trust's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Trust's internal control over financial reporting.  Accordingly, we express no such opinion.

The management of the Trust is responsible for establishing and maintaining effective internal control over financial reporting.  In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls.  A fund's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.  A fund's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and
 expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a fund's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis.  A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the fund's annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Trust's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States).  However, we noted no deficiencies in the Trust's internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of October 31, 2008.

This report is intended solely for the information and use of management and the Board of Trustees of Morgan Stanley Insured Municipal Income Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.




New York, New York
December 24, 2008
</PRE>
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<DOCUMENT>
<TYPE>EX-99.77C VOTES
<SEQUENCE>3
<FILENAME>iim77c.htm
<TEXT>
<HTML>
<HEAD></HEAD>
<BODY>
<PRE>

SUB-ITEM 77(c)

MORGAN STANLEY INSURED MUNICIPAL INCOME TRUST

On November 14, 2008, a Special Meeting of Shareholders of the Trust was
scheduled in order to vote on the proposals set forth below. The voting results
with respect to these proposals were as follows:

(1) Approval of a modification to the Trust's investment policies to allow the
Trust to invest, under normal market conditions, at least 80% of the Trust's net
assets in municipal obligations which are covered by insurance guaranteeing the
timely payment of principal and interest thereon and that are rated at least "A"
by a nationally recognized statistical rating organization ("NRSRO") or are
unrated but judged to be of similar credit quality by the Trust's Investment
Adviser, or covered by insurance issued by insurers rated at least "A" by a
NRSRO:

                                FOR           AGAINST        ABSTAIN        BNV*

COMMON SHAREHOLDERS          9,275,358        941,911        802,503          0

PREFERRED SHAREHOLDERS         1,506            58              43            0

(2) Approval of a modification to the Trust's investment policies to allow the
Trust to invest up to 20% of the Trust's net assets in taxable or tax-exempt
fixed income securities rated at least investment grade by a nationally
recognized statistical rating organization or, if not rated, determined by the
Trust's Investment Adviser to be of comparable quality, including uninsured
municipal obligations, obligations of the U.S. government, its respective
agencies or instrumentalities, and other fixed income obligations, and, during
periods in which the Investment Adviser believes that changes in economic,
financial or political conditions make it advisable to do so, to invest an
unlimited extent in such investments for temporary defensive purposes. The Trust
may also invest in options, futures, swaps and other derivatives:

        FOR                AGAINST             ABSTAIN              BNV*
     9,006,722            1,094,170            920,488               0






(3) Eliminate certain fundamental policies and restrictions:

                                                                                    FOR        AGAINST               ABSTAIN          BNV*
Eliminate fundamental policy restricting the Trust's ability to pledge
assets.......................................................................... 8,637,143    1,293,288     1,090,949          0
Eliminate fundamental policy restricting purchases of securities on
margin.......................................................................... 8,518,934    1,423,412     1,079,574          0
Eliminate fundamental policy prohibiting investments in oil, gas and other
types of mineral leases......................................................... 8,663,332    1,249,367     1,108,681          0
Eliminate fundamental policy prohibiting investments for purposes of
exercising control.............................................................. 8,696,691    1,199,468     1,125,221          0
Eliminate fundamental policy regarding investments in unseasoned
companies....................................................................... 8,521,285    1,377,356     1,122,739          0
Eliminate fundamental policy prohibiting or restricting the purchase of
securities of issuers in which trustees or officers have an interest............ 8,580,732    1,336,030     1,104,618          0
Eliminate fundamental policy regarding purchase of common stock................. 8,734,885    1,259,808     1,026,687          0
Eliminate fundamental policy restricting investments in taxable debt
securities of any one issuer.................................................... 8,755,199    1,256,117     1,010,064          0
Eliminate fundamental policy regarding the purchase or sale of puts, calls
and combinations thereof........................................................ 8,570,170    1,372,173     1,079,037          0
Eliminate fundamental policy regarding the short sale of securities............. 8,491,967    1,484,203     1,045,210          0
Eliminate fundamental policy prohibiting investments in other investment
companies....................................................................... 8,642,074    1,309,453     1,069,853          0


(4) Modify certain fundamental investment policies and restrictions:

                                                                                    FOR        AGAINST               ABSTAIN         BNV*
Modify fundamental policy regarding diversification............................. 8,804,960    1,168,447     1,047,973          0
Modify fundamental policy regarding borrowing money............................. 8,549,128    1,411,801     1,060,451          0
Modify fundamental policy regarding loans....................................... 8,611,831    1,355,872     1,053,677          0
Modify fundamental policy regarding investment in commodities................... 8,583,228    1,392,533     1,045,619          0
Modify fundamental policy regarding issuance of senior securities............... 8,683,185    1,275,283     1,062,912          0

* Broker "non-votes" are shares held in street name for which the broker
indicates that instructions have not been received from the beneficial owners or
other persons entitled to vote and for which the broker does not have
discretionary voting authority.
</PRE>
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<DOCUMENT>
<TYPE>EX-99.77D POLICIES
<SEQUENCE>4
<FILENAME>iim77d.htm
<TEXT>
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<HEAD></HEAD>
<BODY>
<PRE>

SUB-ITEM 77(d)

MORGAN STANLEY INSURED MUNICIPAL INCOME TRUST


As previously stated in the Joint Proxy Statement dated October 1, 2008, which
was distributed in connection with the November 14, 2008 Special Shareholder
Meeting, the Trust may invest in options, futures, variable rate obligations and
when-issued or delayed delivery securities as noted below.

         Options and Futures. The Trust may invest in options and futures. The
Trust may use options and futures to protect against a decline in the Trust's
securities or an increase in prices of securities that may be purchased. If the
Trust invests in options and/or futures, its participation in these markets
would subject the Trust's portfolio to certain risks. If the Investment
Adviser's predictions of movements in the direction of the markets are
inaccurate, the adverse consequences to the Trust (e.g., a reduction in the
Trust's net asset value or a reduction in the amount of income available for
distribution) may leave the Trust in a worse position than if these strategies
were not used. Other risks inherent in the use of options and futures include,
for example, the possible imperfect correlation between the price of options and
futures contracts and movements in the prices of the securities being hedged and
the possible absence of a liquid secondary market for any particular instrument.
Certain options may be over-the-counter options which are options negotiated
with dealers; there is no secondary market for these investments and they may be
difficult to value.

         Variable Rate Obligations. The Trust may invest in Municipal
Obligations of the type called variable rate obligations. The interest rate
payable on a variable rate obligation is adjusted at predesignated periodic
intervals. Other features may include the right whereby the Trust may demand
prepayment of the principal amount of the obligation prior to its stated
maturity (a "demand feature") and the right of the issuer to prepay the
principal amount prior to maturity. The principal benefit of a variable rate
obligation is that the interest rate adjustment minimizes changes in the market
value of the obligation. As a result, the purchase of variable rate obligations
should enhance the ability of the Trust to maintain a stable net asset value per
share and to sell obligations prior to maturity at a price that is approximately
the full principal amount of the obligations. The principal benefit to the Trust
of purchasing obligations with a demand feature is that liquidity, and the
ability of the Trust to obtain repayment of the full principal amount of an
obligation prior to maturity, is enhanced. The payment of principal and interest
by issuers of certain obligations purchased by the Trust may be guaranteed by
letters of credit or other credit facilities offered by banks or other financial
institutions. Such guarantees will be considered in determining whether an
obligation meets the Trust's investment quality requirements.

         When-Issued and Delayed Delivery Securities. From time to time, the
Trust may purchase securities on a when-issued or delayed delivery basis. When
these transactions are negotiated, the price is fixed at the time of the
commitment, but delivery and payment can take place a month or more after the
date of commitment. The Trust may sell the securities before the settlement
date, if it is deemed advisable. The securities so purchased or sold are subject
to market fluctuation and no interest or dividends accrue to the purchaser prior
to the settlement date. At the time the Trust makes the commitment to purchase
or sell securities on a when-issued or delayed delivery basis, it will record
the transaction and thereafter reflect the value, each day, of such security
purchased, or if a sale, the proceeds to be received, in determining its net
asset value. At the time of delivery of the securities, their value may be more
or less than the purchase or sale price. An increase in the percentage of the
Trust's assets committed to the purchase of securities on a when-issued or
delayed delivery basis may increase the volatility of its net asset value. The
Trust will also establish a segregated account on the Trust's books in which it
will continually maintain cash or cash equivalents or other liquid portfolio
securities equal in value to commitments to purchase securities on a when-issued
or delayed delivery basis.
</PRE>
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