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                 MORGAN STANLEY DEAN WITTER SELECT EQUITY TRUST
            MORGAN STANLEY HIGH-TECHNOLOGY 35 INDEX PORTFOLIO 2000-4
                            REFERENCE TRUST AGREEMENT

                  This Reference Trust Agreement dated September 18, 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".

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                  B.     Section 2.03 is amended to add the following to the end
         of the first paragraph thereof. The number of Units may be increased
         through a split of the Units of decreased through a reverse split
         thereof, as directed by the Depositor, which revised number of Units
         shall be recorded by Trustee on its books.

                  C.     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".

                  D.     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 di-

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

                  E.     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 ex-

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         ceed 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."

                  F.     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,".

                  G.     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.

                  H.     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.

                  I.     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

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         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.

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

                  K.     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.

                  L.     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

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

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

                                       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 Morgan Stanley High-Technology 35 Index Portfolio 2000-4 (the
"High-Tech 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 24,996 for the High-Tech Trust.

         E.       A Unit is hereby declared initially equal to 1/24,996th
for the High-Tech Trust.

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         F.       The term "In-Kind Distribution Date" shall mean November
23, 2001.

         G.       The term "Record Dates" shall mean June 1, 2001, and
December 21, 2001 and such other date as the Depositor may direct.

         H.       The term "Distribution Dates shall mean June 15, 2001 and
on or about December 28, 2001 and such other date as the Depositor may direct.

         I.       The term "Termination Date" shall mean December 21, 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 $0.72 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.

         M.       The Indenture is amended to provide that the period during
which the Trustee shall liquidate the Trust Securities shall not exceed 20
business days commencing on the first business day following the In-Kind Date.

               (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.<PAGE>
                                                                    EXHIBIT 4.3

                          DELPHI INFORMATION SYSTEMS, INC.
                               RESOLUTION ADOPTED BY
                                BOARD OF DIRECTORS
                                SEPTEMBER 4, 1996

     Resolved, by the Board of Directors of Delphi Information Systems, Inc.,
a Delaware corporation (the "Corporation"), that Section 3.02 of the Bylaws
of the Corporation is hereby amended in its entirety to read as follows:

     Section 3.02 NUMBER. The number of Directors that shall constitute the
whole Board shall be established by the Board from time to time, but in no
event shall be less than three (3) nor more than seven (7).

                                     ******

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