-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 I1aPbrJwPsz74vr8mZDMXtcAcu6ljxcsZw4nrsi+LT2joJF20mkV49GFQs2hFC1b
 RKI0vhF35s8sFp7la/gHMg==

<SEC-DOCUMENT>0000895415-03-000003.txt : 20031009
<SEC-HEADER>0000895415-03-000003.hdr.sgml : 20031009
<ACCEPTANCE-DATETIME>20031009144240
ACCESSION NUMBER:		0000895415-03-000003
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031008
FILED AS OF DATE:		20031009

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FEENEY JOHN JAY JR
		CENTRAL INDEX KEY:			0001242541

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-07386
		FILM NUMBER:		03934884

	BUSINESS ADDRESS:	
		STREET 1:		HYPERION CAPITAL MANAGEMENT INC
		STREET 2:		165 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006
		BUSINESS PHONE:		2125498400

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HYPERION 2005 INVESTMENT GRADE OPPORTUNITY TERM TRUST INC
		CENTRAL INDEX KEY:			0000895415
		IRS NUMBER:				521806085
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE LIBERTY PLAZA
		STREET 2:		165 BROADWAY, 36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006-1404
		BUSINESS PHONE:		212-549-8400

	MAIL ADDRESS:	
		STREET 1:		ONE LIBERTY PLAZA
		STREET 2:		165 BROADWAY, 36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006-1404
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>

<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2003-10-08</periodOfReport>


    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000895415</issuerCik>
        <issuerName>HYPERION 2005 INVESTMENT GRADE OPPORTUNITY TERM TRUST INC</issuerName>
        <issuerTradingSymbol>HTO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001242541</rptOwnerCik>
            <rptOwnerName>FEENEY JOHN JAY JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE LIBERTY PLAZA</rptOwnerStreet1>
            <rptOwnerStreet2>36TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10006-1404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Director of Issuer's Adviser</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>

        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>

    </nonDerivativeTable>



    <ownerSignature>
        <signatureName>JOHN J. FEENEY, JR.</signatureName>
        <signatureDate>2003-10-09</signatureDate>
    </ownerSignature>

</ownershipDocument>

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