X0201 42003-09-010 0000902754 VAN KAMPEN MUNICIPAL OPPORTUNITY TRUST II VOT 0001198982 SONNENSCHEIN HUGO UNIVERSITY OF CHICAGO 1126 E. 59TH ST. -- SS 507 CHICAGO IL 60637 1000Phantom Stock Units02003-09-014J023236.71113.63D1988-08-081988-08-08Common Stock23236.7110DThe phantom stock units were accrued under the VOT directors' deferred compensation plan and are to be settled 100% in cash, in generally equal installments over a period of five (5) years beginning on the date of the Director's retirement or disability, except that the Board of Directors, in its sole discretion, may accelerate or extend the distribution.1 for 1 The equivalent dollar amount of the phantom stock units are being rolled over into other eligible products in the director's deferred compensation plan./s/ Hugo Sonnenschein2003-09-02