Pioneer Municipal High Income Opportunities Fund Inc.

The Funds primary investment objective is to provide holders of the Funds common stock with a high level of current income exempt from regular federal income tax. As a secondary investment objective, the Fund may seek capital appreciation to the extent consistent with its primary investment objective. The Fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes in securities issued by or on behalf of states, counties, municipalities, territories and possessions of the United States and the District of Columbia and their authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from regular federal income tax.