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<SEC-DOCUMENT>0000950123-11-019843.txt : 20110228
<SEC-HEADER>0000950123-11-019843.hdr.sgml : 20110228
<ACCEPTANCE-DATETIME>20110228165612
ACCESSION NUMBER:		0000950123-11-019843
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20101231
FILED AS OF DATE:		20110228
DATE AS OF CHANGE:		20110228
EFFECTIVENESS DATE:		20110228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Invesco Van Kampen High Income Trust II
		CENTRAL INDEX KEY:			0000846671
		IRS NUMBER:				366900462
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05769
		FILM NUMBER:		11647046

	BUSINESS ADDRESS:	
		STREET 1:		VAN KAMPEN INVESTMENTS INC.
		STREET 2:		522 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		212-296-6963

	MAIL ADDRESS:	
		STREET 1:		VAN KAMPEN INVESTMENTS INC.
		STREET 2:		522 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN HIGH INCOME TRUST II
		DATE OF NAME CHANGE:	19981006

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN AMERICAN CAPITAL LIMITED TERM HIGH INCOME
		DATE OF NAME CHANGE:	19960102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN MERRITT LIMITED TERM HIGH INCOME TRUST
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TEXT>
<PAGE>      PAGE  1
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008 B000002 S
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008 D010002 Frankfurt
008 D050002 Germany
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008 D050003 United Kingdom
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008 B000004 S
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008 D010004 Tokyo
008 D050004 Japan
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008 B000005 S
008 C000005 801-68638
008 D010005 Melbourne
<PAGE>      PAGE  2
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008 D060005 3000
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008 D010006 HONG KONG
008 D050006 HONG KONG
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008 B000007 S
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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SIGNATURE   KELLI GALLEGOS
TITLE       ASSISTANT TREASURER AND ASSISTANT VICE PRESIDENT

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>h79981ex77b.txt
<DESCRIPTION>EXHIBIT
<TEXT>
                                                                   SUB-ITEM 77B

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees and Shareholders of Invesco Van Kampen High Income
Trust II Fund:

In planning and performing our audits of the financial statements of Invesco Van
Kampen High Income Trust II Fund (formerly known as Van Kampen High Income Trust
II Fund, hereafter referred to as the "Fund") as of and for the year ended
December 31, 2010, in accordance with the standards of the Public Company
Accounting Oversight Board (United States), we considered the Fund'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 Fund's internal control over financial reporting.
Accordingly, we do not express an opinion on the effectiveness of the Fund's
internal control over financial reporting.

The management of the Fund 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 company; (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 company 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 company'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 Fund'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 over financial
reporting that might be material weaknesses under standards established by the
Public Company Accounting Oversight Board (country-regionplaceUnited States).
However, we noted no deficiencies in the Fund's internal control over financial
reporting and its operation, including controls over safeguarding securities
that we consider to be material weaknesses as defined above as of December 31,
2010.

<PAGE>

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


PricewaterhouseCoopers LLP

February 22, 2011
Houston, Texas
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77E LEGAL
<SEQUENCE>3
<FILENAME>h79981ex77c.txt
<DESCRIPTION>EXHIBIT
<TEXT>
                                                                   Sub-Item 77C

               SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

                     INVESCO VAN KAMPEN HIGH INCOME TRUST II

An Annual Meeting ("Meeting") of Shareholders of Invesco Van Kampen High Income
Trust II was held on Friday, July 16, 2010. The Meeting was held for the
following purpose:

(1)  Elect four Class III Trustees, each by the holders of Common Shares, each
     of whom will serve for a three year term or until a successor has been duly
     elected and qualified.

The results of the voting on the above matters were as follows:

<TABLE>
<CAPTION>
                                                                                  Votes
Matter                                                              Votes For   Withheld
- ------                                                              ---------   --------
<S>                                                                 <C>         <C>
(1) R. Craig Kennedy.............................................   3,118,747    183,418
    Jack E. Nelson...............................................   3,109,399    192,766
    Colin D. Meadows.............................................   3,122,016    180,149
    Hugo F. Sonnenschein.........................................   3,114,706    187,459
</TABLE>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1 OTHR EXHB
<SEQUENCE>4
<FILENAME>h79981ex77e.txt
<DESCRIPTION>EXHIBIT
<TEXT>
                                                                   Sub-Item 77E

                                LEGAL PROCEEDINGS

                     INVESCO VAN KAMPEN HIGH INCOME TRUST II

SETTLED ENFORCEMENT ACTIONS AND INVESTIGATIONS RELATED TO MARKET TIMING

          On October 8, 2004, Invesco Advisers, Inc. (Invesco), successor by
merger to Invesco Aim Advisors, Inc. and INVESCO Funds Group, Inc. (IFG), both
former investment advisers, along with Invesco Aim Distributors, n/k/a Invesco
Distributors, Inc. (Invesco Distributors) reached final settlements with certain
regulators, including the Securities and Exchange Commission (SEC), the New York
Attorney General and the Colorado Attorney General, to resolve civil enforcement
actions and/or investigations related to market timing and related activity in
the AIM Funds (n/k/a the Invesco Funds), including those formerly advised by
IFG. As part of the settlements, a $325 million fair fund ($110 million of which
is civil penalties) was created to compensate shareholders harmed by market
timing and related activity in funds formerly advised by IFG. Additionally,
Invesco and Invesco Distributors created a $50 million fair fund ($30 million of
which is civil penalties) to compensate shareholders harmed by market timing and
related activity in funds advised by Invesco, which was done pursuant to the
terms of the settlement. The methodology of the fair funds distributions was
determined by Invesco's independent distribution consultant (IDC Plan), in
consultation with Invesco and the independent trustees of the Invesco Funds, and
approved by the SEC on May 23, 2008.

          The IDC Plan provides for distribution to all eligible investors, for
the periods spanning January 1, 2000 through July 31, 2003 (for the IFG Fair
Fund) and January 1, 2001 through September 30, 2003 (for the AIM Fair Fund),
their proportionate share of the applicable Fair Fund to compensate such
investors for injury they may have suffered as a result of market timing in the
affected funds. The IDC Plan includes a provision for any residual amounts in
the Fair Funds to be distributed in the future to the affected funds. Further
details regarding the IDC Plan and distributions thereunder are available on
Invesco's Web site, available at http://www.invesco.com/us.

At the present time, management of Invesco and the Invesco Funds are unable to
estimate the impact, if any, that the outcome of the Pending Litigation and
Regulatory Inquiries described herein may have on Invesco, Invesco Distributors
or the Invesco Funds.

Pending Regulatory Action Alleging Market Timing

          On August 30, 2005, the West Virginia Office of the State Auditor -
Securities Commission (WVASC) issued a Summary Order to Cease and Desist and
Notice of Right to Hearing to Invesco and Invesco Distributors (Order No.
05-1318). The WVASC makes findings of fact that Invesco and Invesco Distributors
entered into certain arrangements permitting market timing of the Invesco Funds
and failed to disclose these arrangements in the prospectuses for such Funds,
and conclusions of law to the effect that Invesco and Invesco Distributors
violated the West Virginia securities laws. The WVASC orders Invesco and Invesco
Distributors to cease any further violations and seeks to impose monetary
sanctions, including restitution to affected investors, disgorgement of fees,
reimbursement of investigatory, administrative and legal costs and an
"administrative assessment," to be determined by the Commissioner. Initial
research indicates that these damages could be limited or capped by statute. By
agreement with the Commissioner of Securities, Invesco's time to respond to that
Order has been indefinitely suspended.

Private Civil Actions Alleging Market Timing

          Multiple civil lawsuits, including purported class action and
shareholder derivative suits, were filed against various parties (including,
depending on the lawsuit, certain Invesco Funds, IFG, Invesco, Invesco Aim
Management Group, Inc., n/k/a Invesco Management Group, Inc. and certain related
entities, certain of their current and former officers and/or certain unrelated
third parties) based on allegations of improper market timing and related
activity in the Invesco Funds. The lawsuits were transferred to the United

<PAGE>

                                                                    Sub-Item 77E

States District Court for the District of Maryland (the MDL Court) for
consolidated or coordinated pre-trial proceedings. Pursuant to an Order of the
MDL Court, plaintiffs in these lawsuits consolidated their claims into three
amended complaints against various Invesco - and IFG-related parties, as
described below.

     -    RICHARD LEPERA, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY
          SITUATED (LEAD PLAINTIFF: CITY OF CHICAGO DEFERRED COMPENSATION PLAN),
          V. INVESCO FUNDS GROUP, INC., ET AL, in the MDL Court (Case No.
          04-MD-15864; No. 04-CV-00814-JFM) (originally in the United States
          District Court for the District of Colorado), filed on September 29,
          2004.

     -    CYNTHIA ESSENMACHER, ET AL., Derivatively on Behalf of the Mutual
          Funds, Trusts and Corporations Comprising the Invesco and AIM Family
          of Mutual Funds v. AMVESCAP, PLC, ET AL., in the MDL Court (Case No.
          04-MD-15864-FPS; No. 04-819), filed on September 29, 2004.

     -    MIRIAM CALDERON, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY
          SITUATED, V. AVZ, INC., ET AL., in the MDL Court (Case No.
          1:04-MD-15864-FPS), filed on September 29, 2004.

          On January 5, 2008, the parties reached an agreement in principle to
settle both the Lepera and the Essenmacher lawsuits, subject to MDL Court
approval. On December 15, 2008, the parties reached an agreement in principle to
settle the Calderon lawsuit, subject to MDL Court approval. No payments were
required under the Calderon settlement; however, the parties agreed that certain
limited changes to benefit plans and participants' accounts would be made.

          The MDL Court formally approved the settlements and dismissed with
prejudice all claims against the Invesco-related parties on October 25, 2010.
There was a brief period to appeal the MDL Court's approval; however, no appeal
was filed. This matter is concluded.

Other Actions Invesco Van Kampen High Income Trust

CLIFFORD T. ROTZ, JR., DERIVATIVELY ON BEHALF OF NOMINAL DEFENDANT INVESCO VAN
KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II, ROBERT FAST, DERIVATIVELY ON BEHALF
OF NOMINAL DEFENDANT INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST, GENE
TURBAN, DERIVATIVELY ON BEHALF OF NOMINAL DEFENDANT INVESCO VAN KAMPEN
HIGHINCOME TRUST II AND MARILYN MORRISON, HARRY SULESKI AND JOHN JOHNSON,
DERIVATIVELY ON BEHALF OF NOMINAL DEFENDANT INVESCO VAN KAMPEN SENIOR INCOME
TRUST, PLAINTIFF, V. VAN KAMPEN ASSET MANAGEMENT, EDWARD C. WOOD, III, STUART N.
SCHULDT, JOHN L. SULLIVAN, STEFANI V. CHANG YU, KEVIN KLINGERT, JERRY W. MILLER,
RONALD E. ROBISON, AMY R. DOBERMAN, DENNIS SHEA, THOMAS BYRON, ROBERT J.
STRYKER, ROBERT W. WIMMEL, WILLIAM BLACK, MARK PARIS, WAYNE D. GODLIN, CHRISTINA
JAMIESON, ANDREW FINDLING, DENNIS M. SCANEY, GERALD FOGARTY, JEFFREY SCOTT,
PHILIP YARROW, STEVEN K. KREIDER, HOWARD TIFFEN AND MORGAN STANLEY, DEFENDANTS,
AND INVESCO VAN KAMPEN ADVTANTAGE MUNICIPAL INCOME TRUST II, INVESCO VAN KAMPEN
MUNICIPAL OPPORTUNITY TRUST, INVESCO VAN KAMPEN MUNICIPAL TRUST, INVESCO VAN
KAMPEN HIGH INCOME TRUST II AND INVESCO VAN KAMPEN SENIOR INCOME TRUST, NOMINAL
DEFENDANTS. On January 17, 2011, a Consolidated Amended Shareholder Derivative
Complaint was filed in the Supreme Court of New York, New York County, on behalf
of Invesco Van Kampen High Income Trust II, Invesco Van Kampen Advantage
Municipal Income Trust II, Invesco Van Kampen Municipal Opportunity Trust,
Invesco Van Kampen Municipal Trust and Invesco Van Kampen Senior Income Trust
(collectively, the Trusts) against Van Kampen Asset Management, Morgan Stanley
and certain current and former trustees and executive officers of the Trusts
(collectively, the Defendants), alleging that they breached their fiduciary
duties to common shareholders by causing the Trusts to redeem Auction Rate
Preferred Securities (ARPS) at their liquidation value when

<PAGE>

                                                                    Sub-Item 77E

the secondary market valued the ARPS at a significant discount from their
liquidation values. The Complaint also alleges that the redemption of the ARPS
occurred at the expense of the Trusts and their common shareholders. This
Complaint consolidates two separate actions that were filed by Clifford T. Rotz,
Jr., Robert Fast and Gene Turban on July 22, 2010, and by Harry Suleski, Leon
McDermott, Marilyn Morrison and John Johnson on August 3, 2010. Plaintiffs seek
judgment that: 1) orders Defendants to refrain from redeeming any ARPS at their
liquidation value using Trusts assets; 2) awards monetary damages against all
Defendants, individually, jointly or severally, in favor of the Trusts, for all
losses and damages allegedly suffered as a result of the redemptions of ARPS at
their liquidation value; 3) grants appropriate equitable relief to remedy the
Defendants' breaches of fiduciary duties; and 4) awards to Plaintiffs the costs
and disbursements of the action. The Board has formed a committee to investigate
these claims, and the parties to the litigation have agreed to a temporary stay
of the litigation pending completion of the investigation.

          More detailed information regarding each of the civil lawsuits
identified above, including the parties to the lawsuits and summaries of the
various allegations and remedies sought, may be found in the Fund's Statement of
Additional Information, if applicable.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1 OTHR EXHB
<SEQUENCE>5
<FILENAME>h79981ex77q1e-a.txt
<DESCRIPTION>EXHIBIT
<TEXT>
                                                               SUB-ITEM 77Q1(E)

                             MEMORANDUM OF AGREEMENT
                              (EXPENSE LIMITATIONS)

          This Memorandum of Agreement is entered into as of the Effective Date
on the attached exhibits (the "Exhibits"), between Invesco Van Kampen Advantage
Municipal Income Trust II, Invesco Van Kampen Bond Fund, Invesco Van Kampen
California Value Municipal Income Trust, Invesco Van Kampen Dynamic Credit
Opportunities Fund, Invesco Van Kampen Exchange Fund, Invesco Van Kampen High
Income Trust II, Invesco Van Kampen Massachusetts Value Municipal Income Trust,
Invesco Van Kampen Municipal Opportunity Trust, Invesco Van Kampen Municipal
Trust, Invesco Van Kampen Ohio Quality Municipal Trust, Invesco Van Kampen
Pennsylvania Value Municipal Income Trust, Invesco Van Kampen Select Sector
Municipal Trust, Invesco Van Kampen Senior Income Trust, Invesco Van Kampen
Senior Loan Fund, Invesco Van Kampen Trust for Insured Municipals, Invesco Van
Kampen Trust for Investment Grade Municipals, Invesco Van Kampen Trust for
Investment Grade New Jersey Municipals and Invesco Van Kampen Trust for
Investment Grade New York Municipals (each a "Trust" or, collectively, the
"Trusts"), on behalf of the funds listed on the Exhibits to this Memorandum of
Agreement (the "Funds"), and Invesco Advisers, Inc. ("Invesco"). Invesco shall
and hereby agrees to waive fees or reimburse expenses of each Fund, on behalf of
its respective classes as applicable, severally and not jointly, as indicated in
the attached Exhibit.

          For and in consideration of the mutual terms and agreements set forth
herein and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Trusts and Invesco agree as follows:

          For the Contractual Limits (listed in Exhibit A), the Trusts and
Invesco agree until at least the expiration date set forth on the attached
Exhibit A (the "Expiration Date") that Invesco will waive its fees or reimburse
expenses to the extent that total annual fund operating expenses after fee
waiver and/or expense reimbursement of a class of a Fund (excluding (i)
interest; (ii) taxes; (iii) dividend expense on short sales; (iv) extraordinary
or non-routine items; (v) expenses that each Fund has incurred but did not
actually pay because of an expense offset arrangement, if applicable) exceed the
rate, on an annualized basis, set forth on the Exhibits of the average daily net
assets allocable to such class. Acquired fund fees and expenses are not fees or
expenses incurred by a fund directly but are expenses of the investment
companies in which a fund invests. These fees and expenses are incurred
indirectly through the valuation of a fund's investment in these investment
companies. Acquired fund fees and expenses are required to be disclosed and
included in the total annual fund operating expenses in the prospectus fee
table. As a result, the net total annual fund operating expenses shown in the
prospectus fee table may exceed the expense limits reflected in Exhibit A. With
regard to the Contractual Limits, the Board of Trustees of the Trust and Invesco
may terminate or modify this Memorandum of Agreement prior to the Expiration
Date only by mutual written consent. Invesco will not have any right to
reimbursement of any amount so waived or reimbursed.

          For the Contractual Limits, each of the Trusts and Invesco agree to
review the then-current expense limitations for each class of each Fund listed
on the Exhibits on a date prior to the Expiration Date to determine whether such
limitations should be amended, continued or terminated. The expense limitations
will expire upon the Expiration Date unless the Trusts and Invesco have agreed
to continue them. The Exhibits will be amended to reflect any such agreement.

          It is expressly agreed that the obligations of each Trust hereunder
shall not be binding upon any of the Trustees, shareholders, nominees, officers,
agents or employees of the Trusts personally, but shall only bind the assets and
property of each Fund, as provided in each Trust's Agreement and Declaration of
Trust. The execution and delivery of this Memorandum of Agreement have been
authorized by the Trustees of the Trusts, and this Memorandum of Agreement has
been executed and delivered by an authorized officer of the Trusts acting as
such; neither such authorization by such Trustees nor such execution and
delivery by such officer shall be deemed to have been made by any of them
individually or to impose any liability on any of them personally, but shall
bind only the assets and property of the Funds, as provided in each Trust's
Agreement and Declaration of Trust.

          IN WITNESS WHEREOF, each of the Trusts and Invesco have entered into
this Memorandum of Agreement as of the Effective Dates on the attached Exhibits.

<PAGE>

                                                               SUB-ITEM 77Q1 (E)

             INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST II
             INVESCO VAN KAMPEN BOND FUND
             INVESCO VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
             INVESCO VAN KAMPEN DYNAMIC CREDIT OPPORTUNITIES FUND
             INVESCO VAN KAMPEN EXCHANGE FUND
             INVESCO VAN KAMPEN HIGH INCOME TRUST II
             INVESCO VAN KAMPEN MASSACHUSETTS VALUE MUNICIPAL INCOME TRUST
             INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST
             INVESCO VAN KAMPEN MUNICIPAL TRUST
             INVESCO VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST
             INVESCO VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
             INVESCO VAN KAMPEN SELECT SECTOR MUNICIPAL TRUST
             INVESCO VAN KAMPEN SENIOR INCOME TRUST
             INVESCO VAN KAMPEN SENIOR LOAN FUND
             INVESCO VAN KAMPEN TRUST FOR INSURED MUNICIPALS
             INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS
             INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY MUNICIPALS
             INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS
             on behalf of the Funds listed in the Exhibits
             to this Memorandum of Agreement


             By: /s/ John M. Zerr

             Title: Senior Vice President


             INVESCO ADVISERS, INC.


             By: /s/ John M. Zerr

             Title: Senior Vice President


                                       2

<PAGE>

                                                         as of November 16, 2010

                          EXHIBIT "A" - RETAIL FUNDS(1)

               INVESCO VAN KAMPEN ADVANTAGE MUNICIPAL INCOME TRUST

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Advantage Municipal
   Income Trust                       Contractual      1.05%       June 1, 2010      June 30, 2012
</TABLE>

                          INVESCO VAN KAMPEN BOND FUND

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Bond Fund                  Contractual      0.58%       June 1, 2010      June 30, 2012
</TABLE>

           INVESCO VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK California Value Muni
   Income Trust                       Contractual      1.05%       June 1, 2010      June 30, 2012
</TABLE>

              INVESCO VAN KAMPEN DYNAMICS CREDIT OPPORTUNITIES FUND

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Dynamics Credit
   Opportunities Fund                 Contractual      2.22%       June 1, 2010      June 30, 2012
</TABLE>

                        INVESCO VAN KAMPEN EXCHANGE FUND

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Exchange Fund              Contractual      0.52%       June 1, 2010      June 30, 2012
</TABLE>

                     INVESCO VAN KAMPEN HIGH INCOME TRUST II

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK High Income Trust II       Contractual      2.02%       June 1, 2010      June 30, 2012
</TABLE>

         INVESCO VAN KAMPEN MASSACHUSETTES VALUE MUNICIPAL INCOME TRUST

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Massachusetts Value
   Municipal Income Trust             Contractual      1.18%       June 1, 2010      June 30, 2012
</TABLE>


                                       3

<PAGE>

                                                         as of November 16, 2010

                INVESCO VAN KAMPEN MUNICIPAL OPPORTUNITIES TRUST

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Municipal Opportunities
   Trust                              Contractual     1.03%        June 1, 2010      June 30, 2012
</TABLE>

                       INVESCO VAN KAMPEN MUNICIPAL TRUST

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Municipal Trust            Contractual     0.94%        June 1, 2010      June 30, 2012
</TABLE>

                 INVESCO VAN KAMPEN OHIO QUALITY MUNICIPAL TRUST

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Ohio Quality Municipal
   Trust                              Contractual     1.02%        June 1, 2010      June 30, 2012
</TABLE>

          INVESCO VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Pennsylvania Value
   Municipal Income Trust             Contractual     0.98%        June 1, 2010      June 30, 2012
</TABLE>

                 INVESCO VAN KAMPEN SELECT SECTOR MUNICIPAL RUST

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Select Sector Municipal
   Trust                              Contractual     1.07%        June 1, 2010      June 30, 2012
</TABLE>

                     INVESCO VAN KAMPEN SENIOR INCOME TRUST

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Senior Income Trust        Contractual     2.07%        June 1, 2010      June 30, 2012
</TABLE>

                       INVESCO VAN KAMPEN SENIOR LOAN FUND

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Senior Loan Fund
   Class A                            Contractual     1.53%(2)     June 1, 2010      June 30, 2012
   Class B                            Contractual     2.28%(2)     June 1, 2010      June 30, 2012
   Class C                            Contractual     2.28%(2)     June 1, 2010      June 30, 2012
   Class IB                           Contractual     1.53%        June 1, 2010      June 30, 2012
   Class IC                           Contractual     1.53%(2)     June 1, 2010      June 30, 2012
</TABLE>


                                       4

<PAGE>

                                                         as of November 16, 2010

                 INVESCO VAN KAMPEN TRUST FOR INSURED MUNICIPALS

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Trust for Insured
   Municipals                         Contractual      1.10%       June 1, 2010      June 30, 2012
</TABLE>

            INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE MUNICIPALS

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Trust for Investment
   Grade Municipals                   Contractual      0.99%       June 1, 2010      June 30, 2012
</TABLE>

       INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW JERSEY MUNICIPALS

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Trust for Investment
   Grade New Jersey Municipals        Contractual      1.08%       June 1, 2010      June 30, 2012
</TABLE>

        INVESCO VAN KAMPEN TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS

<TABLE>
<CAPTION>
                                     CONTRACTUAL/    EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY    LIMITATION     CURRENT LIMIT          DATE
- ----                                 ------------   ----------   -----------------   -------------
<S>                                  <C>            <C>          <C>                 <C>
Invesco VK Trust for Investment
   Grade New York Municipals          Contractual      1.02%       June 1, 2010      June 30, 2012
</TABLE>

(1)  The total operating expenses of any class of shares established after the
     date of this Memorandum of Agreement will be limited to the amount
     established for Class A Shares plus the difference between the new class
     12b-1 rate and the Class A 12b-1 rate.

(2)  The expense limit shown is the expense limit after Rule 12b-1 fee waivers
     by Invesco Distributorors, Inc.


                                       5
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
