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                 MORGAN STANLEY DEAN WITTER SELECT EQUITY TRUST
                        SELECT GLOBAL 30 PORTFOLIO 2000-1
                            REFERENCE TRUST AGREEMENT


                  This Reference Trust Agreement dated January 5, 2000 between
DEAN WITTER REYNOLDS INC., as Depositor, and The Bank of New York, as Trustee,
sets forth certain provisions in full and incorporates other provisions by
reference to the document entitled "Morgan Stanley Dean Witter Select Equity
Trust, Trust Indenture and Agreement" (the "Basic Agreement") dated September
30, 1993 as amended on December 30, 1997. Such provisions as are incorporated by
reference constitute a single instrument (the "Indenture").

                                WITNESSETH THAT:

                  In consideration of the premises and of the mutual agreements
herein contained, the Depositor and the Trustee agree as follows:

                                       I.

                     STANDARD TERMS AND CONDITIONS OF TRUST

                  Subject to the provisions of Part II hereof, all the
provisions contained in the Basic Agreement are herein incorporated by reference
in their entirety and shall be deemed to be a part of this instrument as fully
and to the same extent as though said provisions had been set forth in full in
this instrument except that the Basic Agreement is hereby amended as follows:

               A.   The first sentence of Section 2.01 is amended to add the
          following language at the end of such sentence: "and/or cash (or a
          letter of credit in lieu of cash) with instructions to the Trustee to
          purchase one or more of such Securities which cash (or cash in an
          amount equal to the face amount of the letter of credit), to the
          extent not used by the Trustee to purchase such Securities within the
          90-day period following the first deposit of Securities in the Trust,
          shall be distributed to Unit Holders on the Distribution Date next
          following such 90-day period or such earlier date as the Depositor and
          the Trustee determine".

               B.   The first sentence of Section 2.06 is amended to add the
          following language after "Securities"))": "and/or cash (or a letter of
          credit in lieu of cash) with instructions to the Trustee to purchase
          one or more Additional Securities which cash (or cash in an amount
          equal to the face amount of the letter of credit), to the extent not
          used by the Trustee to purchase such Additional Securities within the
          90-day period following the first deposit of Securities in the Trust,
          shall be distributed to Unit Holders on the Distribution Date next
          following such 90-day period or such earlier date as the Depositor and
          the Trustee determine".


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               C.   Article III, entitled "Administration of Trust", Section
          3.01 Initial Cost shall be amended as follows:

                    Section 3.01 Initial Cost shall be amended to substitute the
               following language:

                         SECTION 3.01. INITIAL COST The costs of organizing the
                    Trust and sale of the Trust Units shall, to the extent of
                    the expenses reimbursable to the Depositor provided below,
                    be borne by the Unit Holders, PROVIDED, HOWEVER, that, to
                    the extent all of such costs are not borne by Unit Holders,
                    the amount of such costs not borne by Unit Holders shall be
                    borne by the Depositor and, PROVIDED FURTHER, HOWEVER, that
                    the liability on the part of the Depositor under this
                    section shall not include any fees or other expenses
                    incurred in connection with the administration of the Trust
                    subsequent to the deposit referred to in Section 2.01. Upon
                    notification from the Depositor that the primary offering
                    period is concluded, the Trustee shall withdraw from the
                    Account or Accounts specified in the Prospectus or, if no
                    Account is therein specified, from the Principal Account,
                    and pay to the Depositor the Depositor's reimbursable
                    expenses of organizing the Trust and sale of the Trust Units
                    in an amount certified to the Trustee by the Depositor. If
                    the balance of the Principal Account is insufficient to make
                    such withdrawal, the Trustee shall, as directed by the
                    Depositor, sell Securities identified by the Depositor, or
                    distribute to the Depositor Securities having a value, as
                    determined under Section 4.01 as of the date of
                    distribution, sufficient for such reimbursement. The
                    reimbursement provided for in this section shall be for the
                    account of the Unitholders of record at the conclusion of
                    the primary offering period and shall not be reflected in
                    the computation of the Unit Value prior thereto. As used
                    herein, the Depositor's reimbursable expenses of organizing
                    the Trust and sale of the Trust Units shall include the cost
                    of the initial preparation and typesetting of the
                    registration statement, prospectuses (including preliminary
                    prospectuses), the indenture, and other documents relating
                    to the Trust, SEC and state blue sky registration fees, the
                    cost of the initial valuation of the portfolio and audit of
                    the Trust, the initial fees and expenses of the Trustee, and
                    legal and other out-of-pocket expenses related thereto, but
                    not including the expenses incurred in the printing of
                    preliminary prospectuses and prospectuses, expenses incurred
                    in the preparation and printing of brochures and other
                    advertising materials and any other selling expenses. Any
                    cash which the Depositor has identified as to be used for
                    reimbursement of expenses pursuant to this Section shall be
                    reserved by the Trustee for such purpose and shall not be
                    subject to distribution or, unless the Depositor otherwise
                    directs,


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                    used for payment of redemptions in excess of the per-Unit
                    amount allocable to Units tendered for redemption.

               D.   The third paragraph of Section 3.05 is hereby amended to add
          the following sentence after the first sentence thereof: "Depositor
          may direct the Trustee to invest the proceeds of any sale of
          Securities not required for the redemption of Units in eligible money
          market instruments selected by the Depositor which will include only
          negotiable certificates of deposit or time deposits of domestic banks
          which are members of the Federal Deposit Insurance Corporation and
          which have, together with their branches or subsidiaries, more than $2
          billion in total assets, except that certificates of deposit or time
          deposits of smaller domestic banks may be held provided the deposit
          does not exceed the insurance coverage on the instrument (which
          currently is $100,000), and provided further that the Trust's
          aggregate holding of certificates of deposit or time deposits issued
          by the Trustee may not exceed the insurance coverage of such
          obligations and U.S. Treasury notes or bills (which shall be held
          until the maturity thereof) each of which matures prior to the earlier
          of the next following Distribution Date or 90 days after receipt, the
          principal thereof and interest thereon (to the extent such interest is
          not used to pay Trust expenses) to be distributed on the earlier of
          the 90th day after receipt or the next following Distribution Date."

               E.   The first sentence of each of Sections 3.10, 3.11 and 3.12
          is amended to insert the following language at the beginning of such
          sentence, "Except as otherwise provided in Section 3.13,".

               F.   The following new Section 3.13 is added:

               Section 3.13. EXTRAORDINARY EVENT - SECURITY RETENTION AND
          VOTING. In the event the Trustee is notified of any action to be taken
          or proposed to be taken by holders of the securities held by the Trust
          in connection with any proposed merger, reorganization, spin-off,
          split-off or split-up by the issuer of stock or securities held in the
          Trust, the Trustee shall take such action or refrain from taking any
          action, as appropriate, so as to insure that the securities are voted
          as closely as possible in the same manner and in the same general
          proportion as are the securities held by owners other than the Trust.
          If stock or securities are received by the Trustee, with or without
          cash, as a result of any merger, reorganization, spin-off, split-off
          or split-up by the issuer of stock or securities held in the Trust,
          the Trustee at the direction of the Depositor may retain such stock or
          securities in the Trust. Neither the Depositor nor the Trustee shall
          be liable to any person for any action or failure to take action with
          respect to this section.

               G.   Section 1.01 is amended to add the following definition: (9)
          "Deferred Sales Charge" shall mean any deferred sales charge payable
          in accordance with the provisions of Section 3.14 hereof, as set forth
          in the prospectus for a Trust. Definitions following this definition
          (9) shall be renumbered.


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               H.   Section 3.05 is hereby amended to add the following
          paragraph after the end thereof: On each Deferred Sales Charge payment
          date set forth in the prospectus for a Trust, the Trustee shall pay
          the account created pursuant to Section 3.14 the amount of the
          Deferred Sales Charge payable on each such date as stated in the
          prospectus for a Trust. Such amount shall be withdrawn from the
          Principal Account from the amounts therein designated for such
          purpose.

               I.   Section 3.06B(3) shall be amended by adding the following:
          "and any Deferred Sales Charge paid".

               J.   Section 3.08 shall be amended by adding the following at the
          end thereof: "In order to pay the Deferred Sales Charge, the Trustee
          shall sell or liquidate an amount of Securities at such time and from
          time to time and in such manner as the Depositor shall direct such
          that the proceeds of such sale or liquidation shall equal the amount
          required to be paid to the Depositor pursuant to the Deferred Sales
          Charge program as set forth in the prospectus for a Trust.

               K.   Section 3.14 shall be added as follows:

               Section 3.14. DEFERRED SALES CHARGE. If the prospectus for a
          Trust specifies a Deferred Sales Charge, the Trustee shall, on the
          dates specified in and as permitted by the prospectus, withdraw from
          the Income Account if such account is designated in the prospectus as
          the source of the payments of the Deferred Sales Charge, or to the
          extent funds are not available in that account or if such account is
          not so designated, from the Principal Account, an amount per Unit
          specified in the prospectus and credit such amount to a special,
          non-Trust account maintained at the Trustee out of which the Deferred
          Sales Charge will be distributed to the Depositor. If the Income
          Account is not designated as the source of the Deferred Sales Charge
          payment or if the balances in the Income and Principal Accounts are
          insufficient to make any such withdrawal, the Trustee shall, as
          directed by the Depositor, either advance funds, if so agreed to by
          the Trustee, in an amount equal to the proposed withdrawal and be
          entitled to reimbursement of such advance upon the deposit of
          additional monies in the Income Account or the Principal Account, sell
          Securities and credit the proceeds thereof to such special Depositor's
          account or credit Securities in kind to such special Depositor's
          Account. Such directions shall identify the Securities, if any, to be
          sold or distributed in kind and shall contain, if the Trustee is
          directed by the Depositor to sell a Security, instructions as to
          execution of such sales. If a Unit Holder redeems Units prior to full
          payment of the Deferred Sales Charge, the Trustee shall, if so
          provided in the prospectus, on the Redemption Date, withhold from the
          Redemption Price payment to such Unit Holder an amount equal to the
          unpaid portion of the Deferred Sales Charge and distribute such amount
          to such special Depositor's account or, if the Depositor shall
          purchase such Unit pursuant to the terms of Section 5.02 hereof, the
          Depositor shall pay the Redemption Price for such Unit less the unpaid
          portion of the Deferred Sales Charge. The Depositor may at any time
          instruct the Trustee to dis-


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          tribute to the Depositor cash or Securities previously credited to the
          special Depositor's account.

               L.   The following new Section 3.15 is added:

               Section 3.15. FOREIGN EXCHANGE TRANSACTIONS; RECLAIMING FOREIGN
          TAXES. (a) For any Trust holding Securities denominated in a currency
          other than U.S. dollars, the Depositor shall direct the Trustee with
          respect to the circumstances under which foreign exchange transactions
          are to be entered into and calculations under this Indenture are to be
          made, in order to convert amounts receivable in respect of the
          Securities in foreign currencies into U.S. dollars.

               (b)  The Trustee shall take such reasonable action as the
          Depositor shall direct or, if not so directed, use reasonable efforts
          to reclaim or recoup any amounts of non-U.S. tax paid by the Trust or
          withheld from income received by the Trust to which the Trust may be
          entitled as a refund.

               M.   The following paragraphs are inserted after the first
          paragraph in Section 4.01:

               "With respect to foreign securities, each security listed on a
               securities exchange will be valued at the last closing sale price
               on the relevant stock exchange or if no such price exists at the
               closing offer price thereof.

               If the Trust holds securities denominated in a currency other
               than U.S. dollars, the evaluations shall be converted to U.S.
               dollars based, during the initial offering period, on the
               offering side of the relevant currency exchange rate, and,
               subsequent to such period, on the bid side of the relevant
               exchange rate, including the cost of a forward foreign exchange
               contract in the relevant currency to correspond to the Trustee's
               settlement requirement for redemption requests as quoted to the
               Trustee by one or more banks designated by the Depositor, unless
               the Security is in the form of an American depository share or
               receipt, in which case the evaluations shall be based upon the
               U.S. dollar prices in the market for American depository shares
               or receipts (unless the Trustee deems such prices inappropriate
               as a basis for valuation)."

               N.   Reference to "Dean Witter Select Equity Trust" is replaced
          by "Morgan Stanley Dean Witter Select Equity Trust".


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                                       II.

                      SPECIAL TERMS AND CONDITIONS OF TRUST


          The following special terms and conditions are hereby agreed to:

          A.   The Trust is denominated Morgan Stanley Dean Witter Select Equity
Trust Select Global 30 Portfolio 2000-1 (the "Select 30 Trust").

          B.   The publicly traded stocks listed in Schedule A hereto are those
which, subject to the terms of this Indenture, have been or are to be deposited
in trust under this Indenture.

          C.   The term, "Depositor" shall mean Dean Witter Reynolds Inc.

          D.   The aggregate number of Units referred to in Sections 2.03 and
9.01 of the Basic Agreement is 24,242 for the Select 30 Trust.

          E.   A Unit is hereby declared initially equal to 1/24,242.

          F.   The term "In-Kind Distribution Date" shall mean March 15, 2001.

          G.   The term "Record Dates" shall mean July 1, 2000 and April 4, 2001
and such other date as the Depositor may direct.

          H.   The term "Distribution Dates shall mean July 15, 2000 and
April 11, 2001 and such other date as the Depositor may direct.

          I.   The term "Termination Date" shall mean April 4, 2001.

          J.   The Depositor's Annual Portfolio Supervision Fee shall be a
maximum of $0.25 per 100 Units.

          K.   The Trustee's Annual Fee as defined in Section 6.04 of the
Indenture shall be $0.80 per 100 Units.

          L.   For a Unit Holder to receive an "in-kind" distribution during the
life of the Trust, such Unit Holder must tender at least 25,000 Units for
redemption. There is no minimum amount of Units that a Unit Holder must tender
in order to receive an "in-kind" distribution on the In-Kind Date or in
connection with a rollover.

          (Signatures and acknowledgments on separate pages)


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               The Schedule of Portfolio Securities in the prospectus included
in this Registration Statement is hereby incorporated by reference herein as
Schedule A hereto.