Edgar Filing: PIONEER HIGH INCOME TRUST

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934

Filed by the Registrant [X]

Filed by a Party other than the Registrant [ ]

Check the appropriate box:

[ ] Preliminary Proxy Statement

[ ] Confidential, for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2))

[X] Definitive Proxy Statement

[ ] Definitive Additional Materials

[ ] Soliciting Material under Rule 14a-12

PIONEER DIVERSIFIED HIGH INCOME TRUST
PIONEER FLOATING RATE TRUST
PIONEER HIGH INCOME TRUST
PIONEER MUNICIPAL HIGH INCOME TRUST
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE TRUST
60 State Street
Boston, Massachusetts 02109
1-800-622-3265

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
SCHEDULED FOR SEPTEMBER 22, 2008

This is the formal agenda for your fund's annual meeting of shareholders.
It tells you the matters upon which you will be asked to vote and the time and
place of the meeting, in case you want to attend in person.

To the shareholders of Pioneer Diversified High Income Trust, Pioneer
Floating Rate Trust, Pioneer High Income Trust, Pioneer Municipal High Income
Trust and Pioneer Municipal High Income Advantage Trust:

The annual meeting of shareholders of each of the above registered
investment management companies (each, a "fund" and, collectively, the "funds")
will be held at the offices of Bingham McCutchen LLP, One Federal Street,
Boston, Massachusetts 02110, on Monday, September 22, 2008 at 2:00 p.m.,
Eastern time, to consider the following:

1. To elect three Trustees of your fund, as named in the attached proxy
statement: (i) with respect to each of Pioneer Floating Rate Trust,
Pioneer High Income Trust, Pioneer Municipal High Income Trust and
Pioneer Municipal High Income Advantage Trust, by the holders of Common
and Preferred Shares voting together as a single class, and (ii) with
respect to Pioneer Diversified High Income Trust, by the holders of
Common Shares. Each elected Trustee will serve for a three year term or
until a successor is elected.

2. To consider any other business that may properly come before the
meeting.

Each fund will hold a separate meeting. Shareholders of each fund will
vote separately.

YOUR TRUSTEES RECOMMEND THAT YOU VOTE IN FAVOR OF PROPOSAL NO 1.
Shareholders of record as of the close of business on July 9, 2008 are
entitled to vote at the meeting and any adjournment or postponement thereof.

By Order of each Board of Trustees,

Dorothy E. Bourassa, Secretary
Boston, Massachusetts
July 30, 2008
-----------------

WHETHER OR NOT YOU EXPECT TO ATTEND THE MEETING, PLEASE COMPLETE AND RETURN THE
ENCLOSED PROXY.
22246-00-0708

PROXY STATEMENT OF
PIONEER DIVERSIFIED HIGH INCOME TRUST
PIONEER FLOATING RATE TRUST
PIONEER HIGH INCOME TRUST
PIONEER MUNICIPAL HIGH INCOME TRUST
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE TRUST

60 State Street
Boston, Massachusetts 02109
1-800-622-3265

ANNUAL MEETING OF SHAREHOLDERS

This proxy statement contains the information you should know before
voting on the proposal summarized below.

Each fund will furnish without charge a copy of its most recent annual
report and any more recent semi-annual report to any shareholder upon request.
Shareholders who want to obtain a copy of a fund's reports should direct all
written requests to the attention of the fund, at the address listed above, or
should call Pioneer Investment Management Shareholder Services Inc. ("PIMSS")
at 1-800-622-3265.

INTRODUCTION

This proxy statement is being used by the Board of Trustees of each fund
to solicit proxies to be voted at the annual meeting of shareholders of each
fund referenced above. Participating in the meeting are holders of common
shares of beneficial interest (the "Common Shares") of each fund and the
holders of preferred shares of beneficial interest (the "Preferred Shares") of
Pioneer Floating Rate Trust, Pioneer High Income Trust, Pioneer Municipal High
Income Trust and Pioneer Municipal High Income Advantage Trust. Each meeting
will be held at the offices of Bingham McCutchen LLP, One Federal Street,
Boston, Massachusetts 02110, at 2:00 p.m., Eastern time, on Monday, September
22, 2008, and at any adjournments or postponements of a meeting to a later
date, for the purposes as set forth in the accompanying notice of annual
meeting of shareholders.

This proxy statement and the enclosed proxy card are being mailed to
shareholders of each fund on or about August 5, 2008. The annual report for each
fund for its most recently completed fiscal year was previously mailed to
shareholders.

WHO IS ELIGIBLE TO VOTE

Shareholders of record of each fund as of the close of business on July 9,
2008 (the "record date") are entitled to vote on all of the fund's business at
the annual shareholder meeting and any adjournments or postponements thereof.
For Pioneer Diversified High Income Trust the affirmative vote of a plurality
of the Common Shares of the fund present

at the meeting in person or by proxy is required to elect each nominee for
Trustee. For each of Pioneer Floating Rate Trust, Pioneer High Income Trust,
Pioneer Municipal High Income Trust and Pioneer Municipal High Income Advantage
Trust, the affirmative vote of a plurality of the Common and Preferred Shares
of each fund present at the meeting in person or by proxy, voting together as a
single class, is required to elect each nominee for Trustee. Election by
plurality means those three persons who receive the highest number of votes
from shares cast "FOR" shall be elected. Shares represented by properly
executed proxies, unless revoked before or at the meeting, will be voted
according to the shareholder's instructions. If you sign a proxy card but do
not fill in a vote, your shares will be voted FOR each of the nominees for
Trustee listed on the proxy card. If any other business properly comes before
the annual shareholder meeting, your shares will be voted at the discretion of
the persons named as proxies.

Shareholders of each fund will only vote on proposals relating to their
fund.

PROPOSAL 1

ELECTION OF BOARD OF TRUSTEES

Shareholders of each fund are being asked to consider the election of
three nominees to the Board of Trustees of the fund. Two of the nominees for
election to each fund's Board currently serve as Trustees of the fund and have
served in that capacity continuously since originally elected or appointed. Dr.
Benjamin M. Friedman is not currently a Trustee of any of the funds. Each
Trustee shall be elected to hold office for a three-year term and until his or
her successor is elected and qualified. Each nominee has consented to being
named in this proxy statement and indicated his or her willingness to serve if
elected. In the unanticipated event that any nominee should be unable to serve,
the persons named as proxies may vote for such other person as shall be
designated by the fund's Board of Trustees. The persons named on the
accompanying proxy card intend to vote at the meeting (unless otherwise
directed) for the election of the nominees named below as Trustees of each
fund.

The Agreement and Declaration of Trust for each fund provides that the
Board of Trustees shall consist of Trustees divided into three classes, each
class to consist, as nearly as may be possible, of one-third of the total
number of trustees constituting the entire Board of Trustees. The Trustees of
only one class are elected at each annual meeting so that the regular term of
only one class of Trustees will expire annually and any particular Trustee
stands for election only once in each three-year period. Each fund's Board of
Trustees is divided into three staggered term classes--Class I, Class II and
Class III. Class I Trustees are being submitted to shareholders for election at
the meeting for Pioneer Diversified High Income Trust. Class II Trustees are
being submitted to shareholders for election at the meeting for each of Pioneer
Floating Rate Trust, Pioneer Municipal High Income Trust and Pioneer Municipal
High Income Advantage Trust. Class III Trustees are being submitted to
shareholders for election at the meeting for Pioneer High Income Trust.

Each fund's Board of Trustees consists of nine members.

Pioneer Diversified High Income Trust
The terms of the Class I Trustees -- Ms. Graham, Mr. Kingsbury and Mr.
Winthrop -- expire at the upcoming 2008 annual meeting; the terms of the Class
II Trustees -- Ms. Bush, Mr. Perna and Ms. Piret -- expire in 2009; the terms
of the Class III Trustees -- Mr. Cogan, Mr. Bock and Mr. West -- expire in
2010.

Pioneer Floating Rate Trust
The terms of the Class II Trustees -- Ms. Graham, Mr. Kingsbury and Mr.
Winthrop -- expire at the upcoming 2008 annual meeting; the terms of the Class
III Trustees -- Ms. Bush, Mr. Perna and Ms. Piret -- expire in 2009; the terms
of the Class I Trustees -- Mr. Cogan, Mr. Bock and Mr. West -- expire in 2010.

Pioneer Municipal High Income Trust
The terms of the Class II Trustees -- Ms. Graham, Mr. Kingsbury and Mr.
Winthrop -- expire at the upcoming 2008 annual meeting; the terms of the Class
III Trustees -- Ms. Bush, Mr. Perna and Ms. Piret -- expire in 2009; the terms
of the Class I Trustees -- Mr. Cogan, Mr. Bock and Mr. West -- expire in 2010.

Pioneer Municipal High Income Advantage Trust
The terms of the Class II Trustees -- Ms. Graham, Mr. Kingsbury and Mr.
Winthrop -- expire at the upcoming 2008 annual meeting; the terms of the Class
III Trustees -- Ms. Bush, Mr. Perna and Ms. Piret -- expire in 2009; the terms
of the Class I Trustees -- Mr. Cogan, Mr. Bock and Mr. West -- expire in 2010.

Pioneer High Income Trust
The terms of the Class III Trustees -- Ms. Graham, Mr. Kingsbury and Mr.
Winthrop -- expire at the upcoming 2008 annual meeting; the terms of the Class
I Trustees -- Ms. Bush, Mr. Perna and Ms. Piret -- expire in 2009; the terms of
the Class II Trustees -- Mr. Cogan, Mr. Bock and Mr. West -- expire in 2010.

Subsequently, for each fund, each class of Trustees will stand for
election at the conclusion of its respective three-year term. Such
classification may prevent replacement of a majority of the Trustees for up to
a two-year period. Mr. Winthrop is retiring as Trustee of each fund and will
not stand for election. Dr. Friedman was nominated as a Trustee by each Board
in anticipation of Mr. Winthrop's retirement. Dr. Friedman is being proposed
for election at the meeting as a Class I Trustee for Pioneer Diversified High
Income Trust; Class II Trustee for each of Pioneer Floating Rate Trust, Pioneer
Municipal High Income Trust and Pioneer Municipal High Income Advantage Trust;
and Class III Trustee for Pioneer High Income Trust.

Holders of the Preferred Shares of each fund that has issued Preferred
Shares are entitled to elect two trustees of that fund. Mr. Cogan and Ms. Piret
have been designated as the Trustees to be elected by the holders of the
Preferred Shares of each fund that has issued Preferred Shares. As noted above,
neither Mr. Cogan's nor Ms. Piret's terms expire at the upcoming 2008 annual
meeting. Consequently, Preferred Shares are not asked to vote as a separate
class at the upcoming 2008 annual meeting.

The following table sets forth the nominees for election, their ages, each
nominee's or incumbent Trustee's position(s) with each fund, his or her age,
address, principal occupation during the past five years and any other board
memberships they hold. Trustees who are interested persons of a fund within the
meaning of the Investment Company Act of 1940, as amended (the "1940 Act"), are
referred to as Interested Trustees. Trustees who are not interested persons of
a fund are referred to as Independent Trustees. Each of the Trustees (except
Mr. West, Mr. Bock and Dr. Friedman) serves as a Trustee of each of the 77 U.S.
registered investment portfolios for which Pioneer Investment Management, Inc.
("Pioneer") serves as investment adviser (the "Pioneer Funds"). Mr. West serves
as Trustee of 33 of the 77 Pioneer Funds, and Mr. Bock serves as Trustee of 76
of the 77 Pioneer Funds. Dr. Friedman serves as Trustee of 71 of the 77 Pioneer
Funds. The address for all Trustees and all officers of each fund is 60 State
Street, Boston, Massachusetts 02109.

Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held With Length of Principal Occupation(s) Trustee
and Address each Fund Service During Past Five Years or Nominee
--------------------- ------------- ------------------- ---------------------------- --------------

Interested Trustees:
John F. Cogan, Jr. Chairman of Diversified High Deputy Chairman and a None
(82)* the Board, Income Trust: Director of Pioneer Global
Trustee and Class III Trustee Asset Management S.p.A.
President since 2007. Term ("PGAM"); Non-Executive
expires in 2010. Chairman and a Director
Floating Rate of Pioneer Investment
Trust: Management USA Inc.
Class I Trustee ("PIM-USA"); Chairman
since 2003. Term and a Director of Pioneer;
expires in 2010. Chairman and Director of
Elected by Pioneer Institutional Asset
Preferred Shares Management, Inc. (since
only. 2006); Director of
High Income Pioneer Alternative
Trust: Class II Investment Management
Trustee since Limited (Dublin);
2002. Term President and a Director
expires in 2010. of Pioneer Alternative
Elected by Investment Management
Preferred Shares (Bermuda) Limited and
only. affiliated funds; Director
Municipal High of PIOGLOBAL Real
Income Trust: Estate Investment Fund
Class I Trustee (Russia) (until June
since 2003. Term 2006); Director of Nano-C,
expires in 2010. Inc. (since 2003);
Elected by Director of Cole
Preferred Shares Management Inc. (since
only. 2004); Director of

Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held With Length of Principal Occupation(s) Trustee
and Address each Fund Service During Past Five Years or Nominee
--------------------- ---------------- ------------------ --------------------------- --------------

Municipal High Fiduciary Counseling,
Income Inc.; President and
Advantage Trust: Director of Pioneer Funds
Class I Trustee Distributor, Inc. ("PFD")
since 2003. Term (until May 2006);
expires in 2010. President of all of the
Elected by Pioneer Funds; and Of
Preferred Shares Counsel, Wilmer Cutler
only. Pickering Hale and Dorr
LLP
Daniel K. Kingsbury Trustee and Diversified High Director, Chief Executive None
(49)* Executive Vice Income Trust: Officer and President of
President Class I Trustee PIM-USA (since February
since 2007. Term 2007); Director and
expires in 2008. President of Pioneer
Floating Rate Investment Management,
Trust: Inc. and Pioneer
Class II Trustee Institutional Asset
since 2007. Term Management, Inc. (since
expires in 2008. February 2007); Executive
High Income Vice President of all of
Trust: Class III the Pioneer Funds (since
Trustee since March 2007); Director of
2007. Term PGAM (since April 2007);
expires in 2008. Head of New Markets
Municipal High Division, PGAM (2000-2007)
Income Trust:
Class II Trustee
since 2007. Term
expires in 2008.
Municipal High
Income
Advantage Trust:
Class II Trustee
since 2007. Term
expires in 2008.

Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held With Length of Principal Occupation(s) Trustee
and Address each Fund Service During Past Five Years or Nominee
------------------------ ------------- ------------------- ---------------------------- -------------------

Independent Trustees:
David R. Bock Trustee Diversified High Executive Vice President Director of
(64) Income Trust: and Chief Financial Enterprise
Class III Trustee Officer, I-trax, Inc. Community
since 2007. Term (publicly traded health Investment Inc.,
expires in 2010. care services company) (privately-held
Floating Rate (2004 to 2007); Partner, affordable housing
Trust: Federal City Capital finance company);
Class I Trustee Advisors (boutique and Director of
since 2005. Term merchant bank)(1997 to New York
expires in 2010. 2004 and 2008 to Mortgage Trust
High Income present); and Executive (publicly traded
Trust: Class II Vice President and Chief mortgage REIT)
Trustee since Financial Officer, Pedestal
2005. Term Inc. (internet-based
expires in 2010. mortgage trading
Municipal High company) (2000-2002)
Income Trust:
Class I Trustee
since 2005. Term
expires in 2010.
Municipal High
Income
Advantage Trust:
Class I Trustee
since 2005. Term
expires in 2010.

Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held With Length of Principal Occupation(s) Trustee
and Address each Fund Service During Past Five Years or Nominee
---------------------- ------------- ------------------- -------------------------- ------------------------

Mary K. Bush Trustee Diversified High President, Bush Director of Marriott
(60) Income Trust: International, LLC International, Inc.;
Class II Trustee (international financial Director of
since 2007. Term advisory firm) Discover Financial
expires in 2009. Services (credit
Floating Rate card issuer and
Trust: electronic payment
Class III Trustee services); Director
since 2003. Term of Briggs &
expires in 2009. Stratton Co.
High Income (engine
Trust: Class I manufacturer);
Trustee since Director of UAL
2002. Term Corporation (airline
expires in 2009. holding company);
Municipal High Director of
Income Trust: Mantech
Class III Trustee International
since 2003. Term Corporation
expires in 2009. (national security,
Municipal High defense, and
Income intelligence
Advantage Trust: technology firm);
Class III Trustee and Member Board
since 2003. Term of Governors,
expires in 2009. Investment
Company Institute
Benjamin M. Friedman Nominee N/A Professor, Harvard Trustee, Mellon
(63) University Institutional Funds
Investment Trust
and Mellon
Institutional Funds
Master Portfolio
(oversees 17
portfolios in fund
complex)

Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held With Length of Principal Occupation(s) Trustee
and Address each Fund Service During Past Five Years or Nominee
---------------------- ------------- ------------------ -------------------------- --------------

Margaret B.W. Graham Trustee Diversified High Founding Director, Vice- None
(61) Income Trust: President and Corporate
Class I Trustee Secretary, The Winthrop
since 2007. Term Group, Inc. (consulting
expires in 2008. firm); and Desautels
Floating Rate Faculty of Management,
Trust: McGill University
Class II Trustee
since 2003. Term
expires in 2008.
High Income
Trust: Class III
Trustee since
2002. Term
expires in 2008.
Municipal High
Income Trust:
Class II Trustee
since 2003. Term
expires in 2008.
Municipal High
Income
Advantage Trust:
Class II Trustee
since 2003. Term
expires in 2008.

Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held With Length of Principal Occupation(s) Trustee
and Address each Fund Service During Past Five Years or Nominee
----------------- ------------- ------------------ --------------------------- -------------------

Thomas J. Perna Trustee Diversified High Private investor (2004 - Director of
(57) Income Trust: present); and Senior Quadriserv Inc.
Class II Trustee Executive Vice President, (technology
since 2007. Term The Bank of New York products for
expires in 2009. (financial and securities securities lending
Floating Rate services) (1986 - 2004) industry)
Trust:
Class III Trustee
since 2006. Term
expires in 2009.
High Income
Trust: Class I
Trustee since
2006. Term
expires in 2009.
Municipal High
Income Trust:
Class III Trustee
since 2006. Term
expires in 2009.
Municipal High
Income
Advantage Trust:
Class III Trustee
since 2006. Term
expires in 2009.

Marguerite A. Piret Trustee Diversified High President and Chief Director of New
(60) Income Trust: Executive Officer, America High
Class II Trustee Newbury, Piret & Income Fund, Inc.
since 2007. Term Company, Inc. (closed-end
expires in 2009. (investment banking firm) investment
Floating Rate company)
Trust:
Class III Trustee
since 2003. Term
expires in 2009.
Elected by
Preferred Shares
only.
High Income
Trust: Class I
Trustee since
2002. Term
expires in 2009.
Elected by
Preferred Shares
only.
Municipal High
Income Trust:
Class III Trustee
since 2003. Term
expires in 2009.
Elected by
Preferred Shares
only.
Municipal High
Income
Advantage Trust:
Class III Trustee
since 2003. Term
expires in 2009.
Elected by
Preferred Shares
only.

Other
Term of Office Directorships
Position(s) and Held by this
Name, Age Held With Length of Principal Occupation(s) Trustee
and Address each Fund Service During Past Five Years or Nominee
----------------- ------------- ------------------- -------------------------- --------------------

Stephen K. West Trustee Diversified High Senior Counsel, Sullivan Director, The
(79) Income Trust: & Cromwell LLP (law Swiss Helvetia
Class III Trustee firm) Fund, Inc. (closed-
since 2007. Term end investment
expires in 2010. company)
Floating Rate
Trust:
Class I Trustee
since 2003. Term
expires in 2010.
High Income
Trust: Class II
Trustee since
2002. Term
expires in 2010.
Municipal High
Income Trust:
Class I Trustee
since 2003. Term
expires in 2010.
Municipal High
Income
Advantage Trust:
Class I Trustee
since 2003. Term
expires in 2010.

-------------

* Mr. Cogan and Mr. Kingsbury are Interested Trustees because each is an
officer or director of each fund's investment adviser and/or certain of its
affiliates.

Board Committees
The Board of Trustees for each fund has an Audit Committee, an Independent
Trustees Committee, a Nominating Committee, a Policy Administration Committee
and a Valuation Committee. Committee members currently are as follows:

Audit
David R. Bock, Margaret B.W. Graham, Marguerite A. Piret (Chair) and
Stephen K. West

Independent Trustees
David R. Bock, Mary K. Bush, Margaret B.W. Graham (Chair), Thomas J.
Perna, Marguerite A. Piret, Stephen K. West and John Winthrop

Nominating
Mary K. Bush, Marguerite A. Piret and John Winthrop (Chair)

Policy Administration
Mary K. Bush (Chair), Thomas J. Perna and John Winthrop

Valuation
David R. Bock, Margaret B.W. Graham, Marguerite A. Piret (Chair) and
Stephen K. West

During the most recent fiscal year for each fund, the Audit, Independent
Trustees, Nominating, Policy Administration and Valuation Committees of each
fund held the following meetings:

Municipal
Diversified Municipal High
High Floating High High Income
Income Rate Income Income Advantage
Trust Trust Trust Trust Trust
------------- ---------- -------- ----------- ----------

Audit Committee ......................... 7 10 8 8 8
Independent Trustees Committee .......... 9 10 8 9 8
Nominating Committee .................... 4 6 4 4 4
Policy Administration Committee ......... 5 5 5 5 5
Valuation Committee ..................... 5 4 5 5 5

Each fund's Audit Committee is comprised of only Independent Trustees who
are "independent" as defined in the applicable New York Stock Exchange ("NYSE")
and American Stock Exchange ("Amex") listing standards relating to closed-end
funds. The Board of Trustees of each fund has adopted a charter for the Audit
Committee. In accordance with its charter, the purposes of the Audit Committee
are to:

o Assist the Board of Trustees' oversight and monitoring of: (i) the
integrity of the fund's financial statements; (ii) the fund's compliance
with legal and regulatory requirements that relate to the fund's
accounting and financial reporting, internal financial controls and
independent audits (except to the extent such responsibility is delegated
to another committee of the Board); (iii) the independent registered
public accounting firm's qualifications, performance and independence;
and (iv) the performance of the fund's internal audit function; and

o Prepare an Audit Committee Report to the extent required by Securities
and Exchange Commission ("SEC") to be included in the fund's annual proxy
statement and other filings.

The Audit Committee reports that it has (1) reviewed and discussed each
fund's audited financial statements with management; (2) discussed with the
independent registered public accounting firm the matters relating to the
quality of each fund's financial reporting; and (3) received written
disclosures and an independence letter from the independent registered public
accounting firm and discussed with the independent registered public accounting
firm that firm's independence. Based upon the review and discussions referred
to above, the Audit Committee recommended to the Board of Trustees

that the audited financial statements be included in the Annual Report for
Pioneer Floating Rate Trust for the fiscal year ended November 30, 2007, the
Annual Reports for Pioneer High Income Trust and Pioneer Municipal High Income
Advantage Trust for the fiscal year ended March 31, 2008 and in the Annual
Reports for Pioneer Diversified High Income Trust and Pioneer Municipal High
Income Trust for the fiscal year ended April 30, 2008, for filing with the SEC.

The Audit Committee charter is available on Pioneer's website:
www.pioneerinvestments.com. You can also obtain a copy by sending a written
request to your fund at the address listed on this proxy statement.

Each fund's Board of Trustees has determined that the fund has at least
one audit committee financial expert serving on its Audit Committee. Ms. Piret,
an Independent Trustee, serves on each Audit Committee and has been determined
to be an audit committee financial expert.

All members of the Nominating Committee are independent under the
applicable NYSE and Amex listing standards relating to closed-end funds, and
are not "interested persons", as defined in the 1940 Act, of Pioneer. The Board
of each fund has adopted a written charter for the Nominating Committee, which
is available on Pioneer's website: www.pioneerinvestments.com. You can also
obtain a copy by sending a written request to your fund at the address listed
on this proxy statement. The Nominating Committee reviews the qualifications of
persons being considered as candidates for Independent Trustee and makes
recommendations regarding the qualifications of such persons to the Independent
Trustees Committee. The Independent Trustees Committee then evaluates any
candidate and determines whether to nominate him or her for election. The
Trustees who are not Independent Trustees and the officers of each fund are
nominated and selected by the Board.

The Nominating Committee's charter provides for certain criteria to be
used in evaluating candidates for Independent Trustee. In reviewing a potential
nominee and in evaluating the re-nomination of current Independent Trustees,
the Nominating Committee applies the following criteria: (i) the nominee's
reputation for integrity, honesty and adherence to high ethical standards, (ii)
the nominee's business acumen and ability to exercise sound judgments, (iii) a
commitment to attend and participate in meetings of the Board and its
committees, (iv) the ability to understand potential conflicts of interest in
managing a fund and to act in the interests of all shareholders, and (v) the
absence of a real or apparent conflict of interest that would impair the
nominee's ability to represent the interests of all the shareholders and to
fulfill the responsibilities of an Independent Trustee. The Nominating
Committee does not necessarily place the same emphasis on each criterion.

As long as an existing Independent Trustee continues, in the opinion of
the other Independent Trustees, to satisfy these criteria and continues to make
positive contributions to the Board, each fund anticipates that Independent
Trustees of the fund would favor the re-nomination of an existing Trustee
rather than a new candidate.

Consequently, while the Nominating Committee will evaluate the qualifications
of nominees recommended by shareholders to serve as Trustee, the Independent
Trustees might act upon the Nominating Committee's evaluation only if there is
a vacancy on the Board. In the event that a vacancy arises or a change in Board
membership is determined to be advisable, the Nominating Committee will, in
addition to any shareholder recommendations, evaluate candidates identified by
other means, including candidates proposed by Independent Trustees or
management. While it has not done so in the past, the Nominating Committee may
retain a consultant to assist the Committee in a search for a qualified
candidate.

Any shareholder recommendation must be submitted in compliance with all of
the pertinent provisions of Regulation 14A under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), and the Agreement and Declaration of
Trust and By-laws of the fund to be considered by the Nominating Committee. In
evaluating a nominee recommended by a shareholder, the Nominating Committee, in
addition to the criteria discussed above, may consider the objectives of the
shareholder in submitting that nomination and whether such objectives are
consistent with the interests of all shareholders. If the Board determines to
include a shareholder's candidate among the slate of nominees, the candidate's
name will be placed on the fund's proxy card. If the Nominating Committee, the
Independent Trustees or the Board determines not to include such candidate
among the Board's designated nominees and the shareholder has satisfied the
requirements of Rule 14a-8 under the Exchange Act, the shareholder's candidate
will be treated as a nominee of the shareholder who originally nominated the
candidate.

The Nominating Committee initiated the recommendation of each of the
nominees to serve as Independent Trustee.

The Nominating Committee followed its standard practices in identifying
and recommending Dr. Friedman as a Nominee. The Chairperson of the Nominating
Committee solicited suggestions from the Independent Trustees for nominees to
the Board who met the criteria for nominees set forth in the Nominating
Committee charter and collected biographical information about the persons
suggested. The Chairperson also collected biographical information of current
Board members, and the Nominating Committee analyzed their experience and
capabilities as a group, in order to identify a skill set and other
characteristics that would be most complementary in a new Board member. Based
on this analysis, four of the candidates were interviewed by the Nominating
Committee. Each Nominating Committee member assessed each candidate as to the
characteristics identified. The Nominating Committee then recommended to the
full Board the nomination of Dr. Friedman to serve as a Board member.

Shareholders may communicate with the members of the Board as a group or
individually. Any such communication should be sent to the Board or an
individual Trustee c/o the Secretary of the fund at the address on the notice
of this meeting. The Secretary may determine not to forward any communication
to members of the Board that does not relate to the business of a fund.

The Valuation Committee reviews the valuation assigned to certain
securities by Pioneer in accordance with each fund's valuation procedures.

The Policy Administration Committee reviews the implementation of certain
of each fund's administrative policies and procedures.

The Independent Trustees Committee reviews each fund's management contract
and other related party contracts annually and is also responsible for any
other action required to be taken, under the 1940 Act, by the Independent
Trustees acting separately.

For Pioneer High Income Trust, Pioneer Municipal High Income Advantage
Trust and Pioneer Municipal High Income Trust, during each fund's most recent
fiscal year, the Board of Trustees held 11 meetings. For Pioneer Floating Rate
Trust, during the fund's most recent fiscal year, the Board of Trustees held 10
meetings. For Pioneer Diversified High Income Trust, during the fund's most
recent fiscal year, the Board of Trustees held 6 meetings. All of the current
Trustees committee members of each fund then serving attended at least 75% of
the meetings of the Board of Trustees and applicable committees, if any, held
during that fund's fiscal year.

The following table indicates the value of shares that each Trustee or
nominee beneficially owned in each fund and Pioneer Funds in the aggregate as
of May 31, 2008. Beneficial ownership is determined in accordance with SEC
rules. The share value of any closed-end Pioneer fund is based on its closing
market price on May 31, 2008. The share value of any open-end Pioneer fund is
based on the net asset value of the class of shares on May 31, 2008. The dollar
ranges in this table are in accordance with SEC requirements.

Aggregate Dollar Range
of Equity Securities in
All Pioneer Funds
Dollar Range of Overseen or to be
Equity Securities Overseen by Trustee
Name of Trustee or Nominee in each Fund or Nominee
-----------------------------------------------------------------------------

INTERESTED TRUSTEE or NOMINEE
John F. Cogan, Jr. ........... Over $100,000(1) Over $100,000
$0(2)
$0(3)
$0(4)
Over $100,000(5)
Daniel K. Kingsbury .......... $0(1) Over $100,000
$0(2)
$0(3)
$0(4)
$0(5)
INDEPENDENT TRUSTEE or NOMINEE
David R. Bock ................ $10,001 to $50,000(1) Over $100,000
$0(2)
$0(3)
$0(4)
$0(5)

Mary K. Bush .................. $0(1) Over $100,000
$0(2)
$0(3)
$0(4)
$0(5)
Benjamin M. Friedman .......... $0(1) $0
$0(2)
$0(3)
$0(4)
$0(5)
Margaret B. W. Graham ......... $1 to $10,000(1) Over $100,000
$0(2)
$0(3)
$0(4)
$0(5)
Thomas J. Perna ............... $0(1) Over $100,000
$0(2)
$0(3)
$0(4)
$0(5)
Marguerite A. Piret ........... $0(1) Over $100,000
$0(2)
$0(3)
$0(4)
$0(5)
Stephen K. West ............... $1 to $10,000(1) Over $100,000
$0(2)
$0(3)
$0(4)
$0(5)

-------------
(1) Shares held in Pioneer High Income Trust
(2) Shares held in Pioneer Municipal High Income Trust
(3) Shares held in Pioneer Municipal High Income Advantage Trust
(4) Shares held in Pioneer Floating Rate Trust
(5) Shares held in Pioneer Diversified High Income Trust

As of December 31, 2007, the Trustees, any nominee for election as a Trustee
and the officers of each fund owned beneficially in the aggregate less than 1%
of the outstanding shares of each fund.
For each of the funds, during the most recent fiscal year, none of the Trustees
or any nominee for election as a Trustee engaged in the purchase or sale of
securities of Pioneer, UniCredit S.p.A. ("Unicredit") or any other entity in a
control relationship to Pioneer or PFD.

Material Relationships of the Independent Trustees
For purposes of the statements below:

o the immediate family members of any person are his or her spouse,
children in the person's household (including step and adoptive children)
and any dependent of the person.

o an entity in a control relationship means any person who controls, is
controlled by or is under common control with the named person. For
example, UniCredito is an entity that is in a control relationship with
Pioneer.

o a related fund is a registered investment company or an entity exempt
from the definition of an investment company pursuant to Sections 3(c)(1)
or 3(c)(7) of the 1940 Act, for which Pioneer or any of its affiliates
act as investment adviser or for which PFD or any of its affiliates act
as principal underwriter. For example, each fund's related funds include
all of the Pioneer Funds and any non-U.S. funds managed by Pioneer or its
affiliates.

As of December 31, 2007, for each fund, none of the Independent Trustees,
nor any of their immediate family members, beneficially owned any securities
issued by Pioneer, UniCredit or any other entity in a control relationship to
Pioneer or PFD.

During the past five years, for each fund, none of the Independent
Trustees, nor any of their immediate family members, had any direct or indirect
interest (the value of which exceeded $120,000), whether by contract,
arrangement or otherwise, in Pioneer, UniCredit, or any other entity in a
control relationship to Pioneer or PFD.

During the past five years, for each fund, none of the Independent
Trustees, nor any of their immediate family members, had an interest in a
transaction or a series of transactions, or in any currently proposed
transaction, or series of similar transactions, in which the aggregate amount
involved exceeded $120,000 and to which any of the following were a party (each
a "fund related party"):

o the fund

o an officer of the fund

o a related fund

o an officer of any related fund

o Pioneer or PFD

o an officer of Pioneer or PFD

o any affiliate of Pioneer or PFD

o an officer of any such affiliate

During the calendar years 2006 and 2007, for each fund, none of the
Independent Trustees, nor any of their immediate family members, had any
relationship (the value of which exceeded $120,000) with any fund related
party, including, but not limited to, relationships arising out of (i) the
payment for property and services, (ii) the provision of legal services, (iii)
the provision of investment banking services (other than as a member of the
underwriting syndicate) or (iv) the provision of consulting services, except
that Mr. West, an Independent Trustee, is Senior Counsel to Sullivan & Cromwell
and acts as counsel to the Independent Trustees and the Independent Trustees of
the other Pioneer Funds. The aggregate compensation paid to Sullivan & Cromwell
by the funds and certain other Pioneer Funds was approximately $287,452 and
$406,262 in 2006 and 2007, respectively.

During the calendar years 2006 and 2007, for each fund, none of the
Independent Trustees, nor any of their immediate family members, served as a
member of a board of directors on which an officer of any of the following
entities also serves as a director:

o Pioneer

o PFD

o UniCredit

o any other entity in a control relationship with Pioneer or PFD

None of the funds' Trustees or officers has any arrangement with any other
person pursuant to which that Trustee or officer serves on the Board of
Trustees. During the calendar years 2006 and 2007 for each fund, none of the
Independent Trustees, nor any of their immediate family members, had any
position, including as an officer, employee, director or partner, with any of
the following:

o the fund

o any related fund

o Pioneer

o PFD

o any affiliated person of the fund, Pioneer or PFD

o UniCredit

o any other entity in a control relationship to the fund, Pioneer or PFD

Compliance with Section 16(a) Reporting Requirements

Section 16(a) of the Exchange Act requires each fund's executive
officers, Trustees and persons who own more than ten percent of a fund's shares
("10% Shareholders") to file reports of ownership and changes in ownership with
the SEC. Executive officers, Trustees and 10% Shareholders are required by SEC
regulations to furnish the fund with copies of all Section 16(a) forms they
file. Section 30(h) of the 1940 Act extends the reporting requirements under
Section 16(a) of the Exchange Act to certain officers of the fund's investment
adviser.

Except as noted below, based solely on a review of the copies of these
reports furnished to each of the funds and representations that no other reports
were required to be filed, each fund believes that during the past fiscal year
its executive officers, Trustees and 10% Shareholders complied with all
applicable Section 16(a) filing requirements.

Due to an administrative oversight with respect to Pioneer Diversified
High Income Trust, Forms 3 for Andrew Feltus, Charles Melchreit, Jonathan
Sharkey, Christopher Harris and David Sinnott, portfolio managers of the fund,
were filed subsequent to the required date for such filings. However, no fund
shares were bought or sold by such persons prior to making the filings.

Due to an administrative oversight with respect to each of Pioneer
Municipal High Income Trust and Pioneer Municipal High Income Advantage Trust,
Forms 3 for David Eurkus, portfolio manager of the funds, were filed subsequent
to the required date for such filings. However, no fund shares were bought or
sold by Mr. Eurkus prior to making the filings.

Other executive officers
In addition to Mr. Cogan and Mr. Kingsbury, who serve as President and
Executive Vice President, respectively, of each fund, the following table
provides information with respect to the other executive officers of the funds.
Each executive officer is elected by the Board of Trustees and serves until his
or her successor is chosen and qualified or until his or her resignation or
removal by the Board. The business address of all officers of the funds is 60
State Street, Boston, Massachusetts 02109.

Name, age and position with each fund Principal occupation(s)
-------------------------------------- --------------------------------------------------

Dorothy E. Bourassa (60) Senior Vice President, General Counsel and
Secretary Secretary of PIM-USA; Senior Vice President and
General Counsel of Pioneer; Secretary/Clerk of
most of PIM-USA's subsidiaries; and Secretary of
all of the Pioneer Funds since September 2003
(Assistant Secretary from November 2000 to
September 2003)

Christopher J. Kelley (43) Vice President and Associate General Counsel of
Assistant Secretary Pioneer since January 2008 and Assistant
Secretary of all of the Pioneer Funds since
September 2003; Vice President and Senior
Counsel of Pioneer from July 2002 to
December 2007

Mark E. Bradley (48) Vice President -- Fund Accounting,
Treasurer Administration and Controllership Services of
Pioneer; and Treasurer of all of the Pioneer Funds
since March 2008; Deputy Treasurer of Pioneer
from March 2004 to February 2008; Assistant
Treasurer of all of the Pioneer Funds from March
2004 to February 2008; and Treasurer and Senior
Vice President, CDC IXIS Asset Management
Services from 2002 to 2003

Luis I. Presutti (43) Assistant Vice President -- Fund Accounting,
Assistant Treasurer Administration and Controllership Services of
Pioneer; and Assistant Treasurer of all of the
Pioneer Funds

Name, age and position with each fund Principal occupation(s)
--------------------------------------- ---------------------------------------------------

Gary Sullivan (50) Fund Accounting Manager -- Fund Accounting,
Assistant Treasurer Administration and Controllership Services of
Pioneer; and Assistant Treasurer of all of the
Pioneer Funds

Katherine Kim Sullivan (34) Fund Administration Manager -- Fund
Assistant Treasurer Accounting, Administration and Controllership
Services since June 2003 and Assistant Treasurer
of all of the Pioneer Funds since September 2003;
Assistant Vice President -- Mutual Fund
Operations of State Street Corporation from June
2002 to June 2003 (formerly Deutsche Bank
Asset Management)

Teri W. Anderholm (48) Chief Compliance Officer of Pioneer since
Chief Compliance Officer December 2006 and of all the Pioneer Funds
since January 2007; Vice President and
Compliance Officer, MFS Investment Management
(August 2005 to December 2006); Consultant,
Fidelity Investments (February 2005 to July 2005);
Independent Consultant (July 1997 to
February 2005)

Compensation of trustees and officers
The following table sets forth certain information with respect to the
compensation of each Trustee of Pioneer High Income Trust and Pioneer Municipal
High Income Advantage Trust for the fiscal year ended March 31, 2008. The
amounts paid to the Trustees by each fund differ due to (i) membership on or
chairing certain committees of the Board of Trustees and (ii) attendance at
meetings. The fund does not pay any salary or other compensation to its
officers.

Pioneer High Income Trust and Pioneer Municipal High Income Advantage Trust:

Pension or Retirement Total Compensation
Aggregate Benefits Accrued as from the Fund and
Compensation Part of Fund Other Pioneer
Name of Trustee from each Fund Expenses Funds(2)
----------------------------------------------------------------------------------------------

Interested Trustees:
John F. Cogan, Jr.(1) .......... $ 500.00*
$ 500.00** $0.00 $ 33,500.00
Daniel K. Kingsbury(1,3) ....... $ 0.00*
$ 0.00** 0.00 $ 0.00
Independent Trustees:
David R. Bock .................. $1,845.21*
$1,622.80** 0.00 $160,011.51
Mary K. Bush ................... $1,939.34*
$1,694.87** 0.00 $169,762.51
Margaret B.W. Graham ........... $2,094.68*
$1,807.61** 0.00 $184,262.51
Thomas J. Perna ................ $1,879.48*
$1,649.54** 0.00 $163,962.51
Marguerite A. Piret ............ $2,350.37*
$1,996.30** 0.00 $208,437.51
Stephen K. West ................ $1,797.74*
$1,587.92** 0.00 $ 65,363.28
John Winthrop .................. $1,942.22*
$1,695.96** 0.00 $169,925.01

-------------
(1) Under the management contract, Pioneer reimburses each fund for any
Interested Trustees fees paid by the fund.
(2) There are 77 U.S. registered investment portfolios in the Pioneer Funds.
(3) Mr. Kingsbury became a Trustee on March 6, 2007.
* Aggregate compensation from Pioneer High Income Trust.
** Aggregate compensation from Pioneer Municipal High Income Advantage Trust.

The following table sets forth certain information with respect to the
compensation of each Trustee of Pioneer Diversified High Income Trust and
Pioneer Municipal High Income Trust for the fiscal year ended April 30, 2008.
The amounts paid to the Trustees differ due to (i) membership on or chairing
certain committees of the boards of Trustees and (ii) attendance at meetings.
The fund does not pay any salary or other compensation to its officers.

Pioneer Diversified High Income Trust and Pioneer Municipal High Income Trust:

Total
Pension or Compensation
Aggregate Retirement Benefits from the Fund
Compensation Accrued as Part of and Other
Name of Trustee from each Fund Fund Expenses Pioneer Funds(2)
----------------------------------------------------------------------------------------------

Interested Trustees:
John F. Cogan, Jr.(1) .......... $ 500.00*
$ 500.00** $0.00 $ 33,500.00
Daniel K. Kingsbury(1,3) ....... $ 0.00*
$ 0.00** 0.00 $ 0.00
Independent Trustees:
David R. Bock .................. $ 750.00*
$1,482.57** 0.00 $160,011.51
Mary K. Bush ................... $ 750.00*
$1,537.96** 0.00 $169,762.51
Margaret B.W. Graham ........... $ 750.00*
$1,626.04** 0.00 $184,262.51
Thomas J. Perna ................ $ 750.00*
$1,503.14** 0.00 $163,999.80
Marguerite A. Piret ............ $ 750.00*
$1,771.95** 0.00 $208,437.51
Stephen K. West ................ $ 750.00*
$1,455.39** 0.00 $ 65,363.28
John Winthrop .................. $ 750.00*
$1,539.26** 0.00 $169,925.01

-------------
(1) Under the management contract, Pioneer reimburses each fund for any
Interested Trustees fees paid by the fund.
(2) There are 77 U.S. registered investment portfolios in the Pioneer Funds.
(3) Mr. Kingsbury became a Trustee on March 6, 2007.
* Aggregate compensation from Pioneer Diversified High Income Trust.
** Aggregate compensation from Pioneer Municipal High Income Trust.

The following table sets forth certain information with respect to the
compensation of each Trustee of Pioneer Floating Rate Trust for the fiscal year
ended November 30, 2007. The amounts paid to the Trustees differ due to (i)
membership on or chairing certain committees of the boards of Trustees and (ii)
attendance at meetings. The fund does not pay any salary or other compensation
to its officers.

Pioneer Floating Rate Trust:

Total
Pension or Compensation
Aggregate Retirement Benefits from the Fund
Compensation Accrued as Part of and Other
Name of Trustee from Fund Fund Expenses Pioneer Funds(2)
----------------------------------------------------------------------------------------------

Interested Trustees:
John F. Cogan, Jr.(1) .......... $ 500.00 $0.00 $ 33,500.00
Daniel K. Kingsbury(1,3) ....... $ 0.00 0.00 $ 0.00
Independent Trustees:
David R. Bock .................. $2,147.12 0.00 $162,170.91
Mary K. Bush ................... $2,106.69 0.00 $160,250.01
Margaret B.W. Graham ........... $2,304.90 0.00 $174,250.01
Thomas J. Perna ................ $2,111.72 0.00 $160,574.80
Marguerite A. Piret ............ $2,694.57 0.00 $201,750.01
Stephen K. West ................ $2,060.93 0.00 $ 64,937.58
John Winthrop .................. $2,110.48 0.00 $160,500.01

Investment adviser and administrator
Pioneer, whose executive offices are located at 60 State Street, Boston,
Massachusetts 02109, serves as investment adviser and administrator to each
fund.

The Trustees may, but generally do not, attend shareholder meetings.

Required vote
In accordance with the Agreement and Declaration of Trust for Pioneer
Diversified High Income Trust, the vote of a plurality of the Common Shares of
the fund present at the meeting in person or by proxy is required to elect each
nominee for Trustee. Dr. Friedman, Ms. Graham and Mr. Kingsbury are the current
nominees for election to the fund's Board of Trustees. This means that the
three nominees receiving the greatest number of votes will be elected as Class
I Trustees to the Board of Pioneer Diversified High Income Trust.

In accordance with the Agreement and Declaration of Trust for each of
Pioneer Floating Rate Trust, Pioneer High Income Trust, Pioneer Municipal High
Income Trust and Pioneer Municipal High Income Advantage Trust, the holders of
Common Shares and Preferred Shares of each fund will vote on the respective
nominees. Dr. Friedman,

Ms. Graham and Mr. Kingsbury are the current nominees for election to each
fund's Board of Trustees. The affirmative vote of a plurality of the Common and
Preferred Shares for each fund present at the meeting in person or by proxy,
voting together as a single class, is required to elect each nominee for
Trustee. This means that the three nominees receiving the greatest number of
votes will be elected as Class II Trustees to the Board of each of Pioneer
Floating Rate Trust, Pioneer Municipal High Income Trust and Pioneer Municipal
High Income Advantage Trust and Class III Trustees to the Board of Pioneer High
Income Trust.

Recommendation
For the reasons set forth above, the Trustees of your fund unanimously
recommend that shareholders vote FOR each of Dr. Friedman, Ms. Graham and Mr.
Kingsbury.

AUDITOR INFORMATION

Each fund's Board of Trustees has selected Ernst & Young LLP as the
independent registered public accounting firm for the fund.

Audit fees
The following are aggregate fees billed for professional services rendered
by Ernst & Young LLP for its audit of each fund's annual financial statements
and fees related to services that are normally provided by Ernst & Young LLP in
connection with statutory and regulatory filings for the two most recent fiscal
years. All of these services were pre-approved by the audit Committee of each
fund pursuant to Regulation S-X.

For the fiscal year For the fiscal year
ended 3/31/2008 ended 3/31/2007
------------------------------------------------------------------------------------------------------

Pioneer High Income Trust ............................. $55,650.00 $53,500.00
Pioneer Municipal High Income Advantage Trust ......... $55,650.00 $53,500.00

For the fiscal year For the fiscal year
ended 4/30/2008 ended 4/30/2007
------------------------------------------------------------------------------------------------------

Pioneer Diversified High Income Trust ................. $49,590.00 N/A*
Pioneer Municipal High Income Trust ................... $55,650.00 $53,500.00

For the fiscal year For the fiscal year
ended 11/30/2007 ended 11/30/2006
------------------------------------------------------------------------------------------------------

Pioneer Floating Rate Trust ........................... $62,840.00 $54,550.00

-------------
* Pioneer Diversified High Income Trust commenced operations on 5/30/2007.

Audit-related fees
The following are aggregate fees billed for assurance and related services
by Ernst & Young LLP to each fund that are related to the review of each fund's
semi-annual financial statements and agreed upon procedures related to the
ratings of each fund's Preferred Shares (if any) for the two most recent fiscal
years. All of these services were pre-approved by the Audit Committee of each
fund pursuant to Regulation S-X.

For the fiscal year For the fiscal year
ended 3/31/2008 ended 3/31/2007
------------------------------------------------------------------------------------------------------

Pioneer High Income Trust ............................. $9,652.00 $9,285.00
Pioneer Municipal High Income Advantage Trust ......... $9,652.00 $9,285.00

For the fiscal year For the fiscal year
ended 4/30/2008 ended 4/30/2007
------------------------------------------------------------------------------------------------------

Pioneer Diversified High Income Trust ................. $ 0.00 N/A*
Pioneer Municipal High Income Trust ................... $9,652.00 $9,285.00

For the fiscal year For the fiscal year
ended 11/30/2007 ended 11/30/2006
------------------------------------------------------------------------------------------------------

Pioneer Floating Rate Trust ........................... $9,652.00 $9,285.00

-------------
* Pioneer Diversified High Income Trust commenced operations on 5/30/2007.

Tax fees
The following are aggregate fees billed for professional services,
primarily for tax returns, rendered by Ernst & Young LLP for tax compliance,
tax advice and tax planning to each fund for the two most recent fiscal years.
All of these services were pre-approved by the Audit Committee of each fund
pursuant to Regulation S-X.

For the fiscal year For the fiscal year
ended 3/31/2008 ended 3/31/2007
------------------------------------------------------------------------------------------------------

Pioneer High Income Trust ............................. $8,290.00 $7,820.00
Pioneer Municipal High Income Advantage Trust ......... $8,290.00 $7,820.00

For the fiscal year For the fiscal year
ended 4/30/2008 ended 4/30/2007
------------------------------------------------------------------------------------------------------

Pioneer Diversified High Income Trust ................. $8,290.00 N/A*
Pioneer Municipal High Income Trust ................... $8,290.00 $7,820.00

For the fiscal year For the fiscal year
ended 11/30/2007 ended 11/30/2006
------------------------------------------------------------------------------------------------------

Pioneer Floating Rate Trust ........................... $8,290.00 $7,820.00

-------------
* Pioneer Diversified High Income Trust commenced operations on 5/30/2007.

All other fees
There were no fees billed for other services rendered by Ernst & Young LLP
to the funds.

Affiliates' Fees for Non-Audit Services Required to be Pre-Approved
Each fund's Audit Committee is required to pre-approve services to
affiliates as defined by SEC rules to the extent that the services relate
directly to the operations or financial reporting of the fund. Affiliates
include the fund's investment adviser and any entity controlling, controlled
by, or under common control with the adviser that provides ongoing services to
the fund (hereinafter referred to as "affiliates" of the fund). For the fiscal
years ended March 31, 2008 and 2007, for Pioneer High Income Trust and Pioneer
Municipal High Income Advantage Trust, there were no services provided to an
affiliate that required the fund's audit committee pre-approval. For the fiscal
years ended April 30, 2008 and 2007, for Pioneer Municipal High Income Trust,
there were no services provided to an affiliate that required the fund's Audit
Committee pre-approval. For the fiscal year ended April 30, 2008, for Pioneer
Diversified High Income Trust, there were no services provided to an affiliate
that required the fund's audit committee pre-approval. For the fiscal years
ended November 30, 2007 and 2006, for Pioneer Floating Rate Trust, there were
no services provided to an affiliate that required the fund's audit committee
pre-approval.

General Audit Committee Approval Policy

o For all projects, each of the officers of the funds and the funds'
independent registered public accounting firm will make an assessment to
determine that any proposed projects will not impair independence.

o Potential services will be classified into the four non-restricted service
categories and the "Approval of Audit, Audit-Related, Tax and Other
Services" Policy will be applied. Any services outside the specific
pre-approved service subcategories set forth above must specifically be
approved by the Audit Committee.

o At least quarterly, the Audit Committee shall review a report summarizing the
services by service category, including fees, provided by the independent
registered public accounting firm as set forth in the above policy.

The charter of each Audit Committee requires that the Audit Committee
shall approve (a) all audit and non-audit services to be provided to each fund
and (b) all non-audit services to be provided by the fund's independent public
accounting firm to Pioneer and any entity controlling, controlled by or under
common control with the investment adviser that provides ongoing services to
the fund ("Covered Service Providers") if the engagement relates directly to
the operations and financial reporting of the fund. The Audit Committee may
delegate, to the extent permitted by law, pre-approved responsibilities to one
or more members of the Audit Committee who shall report to the full Audit
Committee.

No Audit Committee may approve non-audit services that the Audit Committee
believes may impair the independence of the independent registered public
accounting firm. Permissible non-audit services include any professional
services (including tax services) that are not prohibited services as described
below provided to the fund by the independent registered public accounting
firm, other than those provided to a fund in connection with an audit or a
review of the financial statements of the fund. Permissible non-audit services
may not include (a) bookkeeping or other services related to the accounting
records or financial statements of the fund; (b) financial information systems
design and implementation; (c) appraisal or valuation services, fairness
opinions or contribution-in-kind reports; (d) actuarial services; (e) internal
audit outsourcing services; (f) management functions or human resources; (g)
broker or dealer, investment adviser or investment banking services; (h) legal
services and expert services unrelated to the audit; and (i) any other service
the Public Company Accounting Oversight Board determines, by regulation, is
impermissible.

Pre-approval by the Audit Committee of any permissible non-audit services
is not required so long as: (a) the aggregate amount of all such permissible
non-audit services provided to a fund, Pioneer and any Covered Service Provider
constitutes not more than 5% of the total amount of revenues paid to the
independent registered public accounting firm during the fiscal year in which
the permissible non-audit services are provided to (i) the fund, (ii) Pioneer
and (iii) any Covered Service Provider during the fiscal year in which services
are provided that would not have to be approved by the Audit Committee; (b) the
permissible non-audit services were not recognized by the fund at the time of
the engagement to be non-audit services; and (c) such services are promptly
brought to the

attention of the Audit Committee and approved by the Audit Committee (or its
delegate(s)) prior to completion of the audit.

Aggregate Non-Audit Fees
The aggregate non-audit fees billed by Ernst & Young LLP for services
rendered to each fund and its affiliates, as previously defined, were as
follows.

For the fiscal year For the fiscal year
ended 3/31/2008 ended 3/31/2007
------------------------------------------------------------------------------------------------------

Pioneer High Income Trust ............................. $17,942.00 $17,105.00
Pioneer Municipal High Income Advantage Trust ......... $17,942.00 $17,105.00

For the fiscal year For the fiscal year
ended 4/30/2008 ended 4/30/2007
------------------------------------------------------------------------------------------------------

Pioneer Diversified High Income Trust ................. $ 8,290.00 N/A*
Pioneer Municipal High Income Trust ................... $17,942.00 $17,105.00

For the fiscal year For the fiscal year
ended 11/30/2007 ended 11/30/2006
------------------------------------------------------------------------------------------------------

Pioneer Floating Rate Trust ........................... $17,942.00 $17,105.00

-------------
* Pioneer Diversified High Income Trust commenced operations on 5/30/2007.

The Audit Committee of the Board of each fund has considered whether the
provision of services, other than audit services, by Ernst & Young LLP to each
fund and its affiliates is compatible with maintaining Ernst & Young LLP's
independence in performing audit services.

Representatives of Ernst & Young LLP will be available at the shareholder
meeting (either in person or via telephone), will have the opportunity to make
a statement should they desire to do so, and will be available to answer
questions.

INFORMATION CONCERNING THE MEETINGS

Outstanding shares and quorum
As of the record date, July 9, 2008, the following Common and Preferred
Shares of beneficial interest were outstanding for each fund:

Common Shares Preferred Shares
---------------------------------------------------------------------------------------

Pioneer Diversified High Income Trust ............. 8,154,188 None
Pioneer Floating Rate Trust ....................... 24,428,148 Series M7 3,130
Series W7 3,125
Series TH7 3,125
Pioneer High Income Trust ......................... 27,277,358 Series M 2,020
Series W 2,020
Series TH 2,000
Pioneer Municipal High Income Advantage Trust ..... 22,820,558 Series A 3,000
Series B 3,000
Pioneer Municipal High Income Trust ............... 22,140,525 Series A 2,000
Series B 2,040

Only shareholders of record as of the record date are entitled to notice
of and to vote at the meeting. The holders of one-third of the outstanding
shares of each fund entitled to vote in person or by proxy, counted together,
shall constitute a quorum for the transaction of business with respect to such
fund.

Ownership of shares of the funds

To the knowledge of each fund, as of the record date, the following
persons owned of record or beneficially 5% or more of a class of the
outstanding shares of a class of a fund:

Pioneer Diversified High Income Trust

Record Holder Share Class Number of Shares % of Class
------------------------------------------------------------------------------------

Cede & Co. Common 8,138,681 99.81
P.O. Box 20
Bowling Green Station
New York, NY 10004
------------------------------------------------------------------------------------

Pioneer Floating Rate Trust

Record Holder Share Class Number of Shares % of Class
------------------------------------------------------------------------------------

Cede & Co. Common 24,416,723 99.95
P.O. Box 20
Bowling Green Station
New York, NY 10004
------------------------------------------------------------------------------------
UBS Financial Services, Inc. Series M7 593 18.98
Newport Center 3
499 Washington Blvd., 15th Floor
Jersey City, NJ 07310-1995
------------------------------------------------------------------------------------
Series TH7 506 16.19
------------------------------------------------------------------------------------
Series W7 957 30.62
------------------------------------------------------------------------------------
Merrill Lynch Series M7 1,987 63.48
4804 Deer Lake Drive East
4th Floor
Jacksonville, FL 32232-5286
------------------------------------------------------------------------------------
Series TH7 1,856 59.39
------------------------------------------------------------------------------------
Series W7 1,570 50.24
------------------------------------------------------------------------------------
Citigroup Global Markets, Inc. Series M7 139 4.44
333 West 34th Street 3rd Floor
New York, NY 10001-2402
------------------------------------------------------------------------------------
Series TH7 262 8.38
------------------------------------------------------------------------------------
Series W7 247 7.90
------------------------------------------------------------------------------------
Oppenheimer/Fahnestock Series M7 411 13.13
125 Broad Street
16th Floor
New York, NY 10004-2464
------------------------------------------------------------------------------------
Series TH7 501 16.03
------------------------------------------------------------------------------------
Series W7 351 11.23
------------------------------------------------------------------------------------

Pioneer High Income Trust

Record Holder Share Class Number of Shares % of Class
------------------------------------------------------------------------------------

Cede & Co. Common 27,179,987 99.64
P.O. Box 20
Bowling Green Station
New York, NY 10004
------------------------------------------------------------------------------------
UBS Financial Services, Inc. Series M 265 13.12
Newport Center 3
499 Washington Blvd., 15th Floor
Jersey City, NJ 07310-1995
------------------------------------------------------------------------------------
Series TH 90 4.50
------------------------------------------------------------------------------------
Series W 390 19.31
------------------------------------------------------------------------------------
Credit Suisse First Boston Series M 6 .30
11 Madison Avenue
New York, NY
10010-3629
------------------------------------------------------------------------------------
Series TH 49 2.45
------------------------------------------------------------------------------------
Series W 110 5.45
------------------------------------------------------------------------------------
Morgan Stanley, Inc. Series M 10 .50
Harborside Financial Center
34 Exchange Place Plaza 2,
2nd Floor
Jersey City, NJ 07311
------------------------------------------------------------------------------------
Series W 11 .54
------------------------------------------------------------------------------------
Merrill Lynch Series M 786 38.91
4804 Deer Lake Drive East
4th Floor
Jacksonville, FL 32232-5286
------------------------------------------------------------------------------------
Series TH 703 35.15
------------------------------------------------------------------------------------
Series W 749 37.08
------------------------------------------------------------------------------------
Citigroup Global Markets, Inc. Series M 185 9.16
333 West 34th Street 3rd Floor
New York, NY 10001-2402
------------------------------------------------------------------------------------
Series W 154 7.62
------------------------------------------------------------------------------------
Oppenheimer/Fahnestock Series M 231 11.44
125 Broad Street
16th Floor
New York, NY 10004-2464
------------------------------------------------------------------------------------
Series TH 459 22.95
------------------------------------------------------------------------------------
Series W 309 15.30
------------------------------------------------------------------------------------
Jeffries & Company Inc. Series M 12 .59
Harborside Financial Center
Plaza III, Suite 705
Jersey City, NJ 07311-0000
------------------------------------------------------------------------------------

Record Holder Share Class Number of Shares % of Class
---------------------------------------------------------------------------

Series TH 27 1.35
---------------------------------------------------------------------------
Morgan Stanley GWM Series M 525 25.99
1585 Broadway
New York, NY 10036
---------------------------------------------------------------------------
Series TH 652 32.60
---------------------------------------------------------------------------
Series W 284 14.06
---------------------------------------------------------------------------
Morgan Keegan Series TH 20 1.00
50 North Front Street
Memphis, TN 38103-2126
---------------------------------------------------------------------------
Series W 13 .64
---------------------------------------------------------------------------

Pioneer Municipal High Income Advantage Trust

Record Holder Share Class Number of Shares % of Class
----------------------------------------------------------------------------------------

Cede & Co. Common 22,760,984 99.74
P.O. Box 20
Bowling Green Station
New York, NY 10004
----------------------------------------------------------------------------------------
UBS Financial Services, Inc. Series A 850 28.33
Newport Center 3
499 Washington Blvd., 15th Floor
Jersey City, NJ 07310-1995
----------------------------------------------------------------------------------------
Series B 1,295 43.17
----------------------------------------------------------------------------------------
Merrill Lynch Series A 407 13.57
4804 Deer Lake Drive East, 4th Floor
Jacksonville, FL 32232-5286
----------------------------------------------------------------------------------------
Series B 246 8.20
----------------------------------------------------------------------------------------
Wachovia Securities Series A 212 7.07
901 East Byrd St
Richmond, VA 23219
----------------------------------------------------------------------------------------
Series B 423 14.10
----------------------------------------------------------------------------------------
Oppenheimer/Fahnestock Series A 996 33.20
125 Broad Street 16th Floor
New York, NY 10004-2464
----------------------------------------------------------------------------------------
Series B 826 27.53
----------------------------------------------------------------------------------------
Jeffries & Company Inc. Series A 124 4.13
Harborside Financial Center
Plaza III, Suite 705
Jersey City, NJ 07311-0000
----------------------------------------------------------------------------------------
Series B 97 3.23
----------------------------------------------------------------------------------------
Morgan Stanley GWM Series A 109 3.63
1585 Broadway
New York, NY 10036
----------------------------------------------------------------------------------------
Series B 113 3.77
----------------------------------------------------------------------------------------
Morgan Keegan Series A 302 10.07
50 North Front Street
Memphis, TN 38103-2126
----------------------------------------------------------------------------------------

Pioneer Municipal High Income Trust

Record Holder Share Class Number of Shares % of Class
----------------------------------------------------------------------------------------

Cede & Co. Common 22,026,367 99.48
P.O. Box 20
Bowling Green Station
New York, NY 10004
----------------------------------------------------------------------------------------
UBS Financial Services, Inc. Series A 901 45.05
Newport Center 3
499 Washington Blvd., 15th Floor
Jersey City, NJ 07310-1995
----------------------------------------------------------------------------------------
Series B 559 27.40
----------------------------------------------------------------------------------------
Oppenheimer/Fahnestock Series A 501 25.05
125 Broad Street, 16th Floor
New York, NY 10004-2464
----------------------------------------------------------------------------------------
Series B 646 31.67
----------------------------------------------------------------------------------------
Merrill Lynch Series A 174 8.70
4804 Deer Lake Drive East, 4th Floor
Jacksonville, FL 32232-5286
----------------------------------------------------------------------------------------
Series B 139 6.81
----------------------------------------------------------------------------------------
Morgan Keegan Series A 196 9.80
50 North Front Street
Memphis, TN 38103-2126
----------------------------------------------------------------------------------------
Series B 227 11.13
----------------------------------------------------------------------------------------
Wachovia Securities Series A 154 7.70
901 East Byrd St
Richmond, VA 23219
----------------------------------------------------------------------------------------
Series B 90 4.41
----------------------------------------------------------------------------------------
Jeffries & Company Inc. Series B 207 10.15
Harborside Financial Center
Plaza III, Suite 705
Jersey City, NJ 07311-0000
----------------------------------------------------------------------------------------
Morgan Stanley GWM Series A 74 3.70
1585 Broadway
NewYork, NY 10036
----------------------------------------------------------------------------------------
Series B 172 8.43
----------------------------------------------------------------------------------------

Shareholder proposals
Under Rule 14a-8 of the Exchange Act (relating to shareholder proposals),
any shareholder proposal that may properly be included in your fund's proxy
statement for the 2009 annual meeting, must be received by the Secretary of the
fund at the fund's principal offices at 60 State Street, Boston, Massachusetts
02109 at least 120 calendar days prior to the anniversary of the date of
mailing of the fund's proxy statement for the 2008 annual meeting, or on or
before April 7, 2009. A proposal that is not to be included in a fund's proxy
statement may be made at the 2009 annual meeting for such fund only if it is
received by the Secretary of the fund at the fund's principal offices at 60
State Street, Boston, Massachusetts 02109 not more than 120 days and at least
90 days before the anniversary date of the mailing of the fund's proxy
materials for 2008 annual meeting provided, however, that in the event that the
date of the mailing of the notice for the 2009 annual meeting for a fund is
advanced or delayed by more than thirty (30) days from the anniversary date of
the mailing of the notice for 2008 annual meeting, notice by a shareholder to
be timely must be so delivered not earlier than the close of business on the
120th day prior to the date of mailing of the notice for the 2009 annual
meeting and not later than the close of business on the later of the 90th day
prior to the date of mailing of the notice for the 2009 annual meeting or the
10th day following the day on which public announcement of the date of mailing
of the notice for the 2009 meeting is first made by the fund. The fund's
By-laws require that certain information must be provided by the shareholder to
the fund when notice of a nominee for election as a Trustee or proposal is
submitted to the fund.

The submission by a shareholder of a proposal for inclusion in a proxy
statement does not guarantee that it will be included. Each of Pioneer
Diversified High Income Trust, Pioneer Floating Rate Trust, Pioneer High Income
Trust, Pioneer Municipal High Income Trust and Pioneer Municipal High Income
Advantage Trust currently expect to hold the next annual shareholders' meeting
on or about September 8, 2009, which date is subject to change. Shareholder
proposals are subject to certain regulations under the federal securities laws.

Proxies, quorum and voting at the meeting
Any shareholder who has given his or her proxy to someone generally has
the power to revoke that proxy at any time prior to its exercise by executing a
superseding proxy or by submitting a notice of revocation to the Secretary of
the fund. In addition, although mere attendance at the meeting will not revoke
a proxy, a shareholder present at the meeting may withdraw his or her proxy and
vote in person. All properly executed and unrevoked proxies received in time
for the meeting will be voted in accordance with the instructions contained in
the proxies. If no instruction is given, the persons named as proxies will vote
the shares represented thereby in favor of the nominees in Proposal 1, as
described above, and will use their best judgment in connection with the
transaction of such other business as may properly come before the meeting or
any adjournment or postponement thereof.

For Pioneer Diversified High Income Trust, one-third of the outstanding
shares entitled to vote, present in person or represented by proxy, constitutes
a quorum for the

transaction of business at the meeting. For each of Pioneer Floating Rate
Trust, Pioneer High Income Trust, Pioneer Municipal High Income Trust and
Pioneer Municipal High Income Advantage Trust, one-third of the outstanding
shares of the Common and Preferred Shares of the fund entitled to vote, present
in person or represented by proxy, counted together, constitutes a quorum for
the transaction of business at the meeting. In the event that at the time any
session of the meeting is called to order a quorum is not present in person or
by proxy, the persons named as proxies may vote those proxies that have been
received to adjourn the shareholder meeting to a later date. In the event that
a quorum is present but sufficient votes in favor of the proposal have not been
received, the persons named as proxies may propose one or more adjournments of
the shareholder meeting to permit further solicitation of proxies with respect
to such proposal. Any such adjournment will require the affirmative vote of
more than one half of the shares of the fund present in person or by proxy at
the session of the meeting to be adjourned. The persons named as proxies will
vote those proxies which they are entitled to vote in favor of any such
proposal in favor of such an adjournment and will vote those proxies required
to be voted against any such proposal against any such adjournment. A
shareholder vote may be taken on one or more of the proposals in the proxy
statement prior to such adjournment if sufficient votes for its approval have
been received and it is otherwise appropriate. Such vote will be considered
final regardless of whether the meeting is adjourned to permit additional
solicitation with respect to any other proposal.

Shares of the fund represented in person or by proxy, including shares
that abstain or do not vote with respect to a proposal, will be counted for
purposes of determining whether there is a quorum at the meeting. However, an
abstention from voting has the same effect as a vote against a proposal. Also,
if a broker or nominee holding shares in "street name" indicates on the proxy
card that it does not have discretionary authority to vote on a proposal and
has not received instructions from the beneficial owner, those shares will not
be considered present and entitled to vote on that proposal. Thus, a "broker
non-vote" has no effect on the voting for an election of Trustees. On any
matter submitted to a vote of shareholders each whole share shall be entitled
to one vote as to any matter on which it is entitled to vote and each
fractional share shall be entitled to a proportionate fractional vote.

Other business
While the meeting has been called to transact any business that may
properly come before it, the only matters that the Trustees intend to present
are those matters stated in the attached notice of annual meeting of
shareholders. However, if any additional matters properly come before the
meeting, and on all matters incidental to the conduct of the meeting, it is the
intention of the persons named in the enclosed proxy to vote the proxy in
accordance with their judgment on such matters unless instructed to the
contrary.

Method of solicitation and expenses
The cost of preparing, printing and mailing the enclosed proxy statement,
accompanying notice of annual meeting of shareholders and the accompanying
proxy card for each fund will be borne by that fund. In addition to soliciting
proxies by mail, Pioneer may, at the fund's expense, have one or more of the
fund's officers, representatives or compensated third-party agents, including
Pioneer, PIMSS and PFD, aid in the solicitation of proxies by personal
interview or telephone and may request brokerage houses and other custodians,
nominees and fiduciaries to forward proxy soliciting material to the beneficial
owners of the shares held of record by such persons. Each fund has retained the
Altman Group, Inc. to assist in the proxy solicitation. The cost of their
services is estimated at approximately $89,000.

Each fund may also arrange to have votes recorded by telephone, the
internet or other electronic means. The voting procedures used in connection
with such voting methods are designed to authenticate shareholders' identities,
to allow shareholders to authorize the voting of their shares in accordance
with their instructions and to confirm that their instructions have been
properly recorded. If these procedures were subject to a successful legal
challenge, such votes would not be counted at the shareholder meeting. Each
fund is unaware of any such challenge at this time. In the case of telephone
voting, shareholders would be called at the phone number the sub-transfer
agent, American Stock Transfer & Trust Company, has in its records for their
accounts, and would be asked for their Social Security number or other
identifying information. The shareholders would then be given an opportunity to
authorize proxies to vote their shares at the meeting in accordance with their
instructions. In the case of automated telephone and internet voting,
shareholders would be required to provide their Social Security number or other
identifying information and would receive a confirmation of their instructions.

Persons holding shares as nominees will be reimbursed by the fund, upon
request, for the reasonable expenses of mailing soliciting materials to the
principals of the accounts.

July 30, 2008

[LOGO]PIONEER
Investments(R)

PIONEER FLOATING RATE TRUST
PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 22, 2008

This proxy is solicited on behalf of the Board of Trustees of Pioneer Floating
Rate Trust. I (we), the undersigned holder(s) of common shares of beneficial
interest, having received notice of the meeting and management's proxy statement
therefor, and revoking all prior proxies, hereby appoint John F. Cogan, Jr.,
Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my (our)
attorneys (with full power of substitution in them and each of them) for and in
my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Floating Rate Trust to be held on September 22, 2008, at 2:00 p.m. (Eastern
time) at the offices of Bingham McCutchen LLP, One Federal Street, Boston,
Massachusetts 02110, and any adjourned session or sessions thereof, and to vote
and act upon the following matters (as more fully described in the accompanying
proxy statement) in respect of all common shares of beneficial interest of
Pioneer Floating Rate Trust which I (we) will be entitled to vote or act upon,
with all the powers I (we) would possess if personally present.

IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING. THE SHARES REPRESENTED BY THIS PROXY
WILL BE VOTED AS DIRECTED BY THE UNDERSIGNED.

Note: In signing, please write name(s) exactly as they
appear on this proxy. When signing as executor, attorney,
administrator or other fiduciary, please give your full
title as such. Joint owners should each sign personally.

------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date

------------------------------------------------------------
Signature of joint owner, if any Date

--------------------------------------------------------------------------------

^ FOLD HERE ^

YOUR VOTE IS VERY IMPORTANT.

PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY

THE COMMON SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE VOTED
AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.

THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER FLOATING RATE TRUST
SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE PROVIDED. THE BOARD
RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK:

1. To elect three Class II trustees of Pioneer Floating Rate Trust, as named in
the attached proxy statement, to serve on the Board of Trustees until their
successors have been duly elected and qualified. The nominees for trustees
are:

01. Daniel K. Kingsbury 02. Benjamin M. Friedman 03. Margaret B.W. Graham

To withhold authority to vote "FOR" any individual nominee, mark the "FOR
ALL EXCEPT" box and write the nominee's number(s) on the line provided
below.

----------------------------------------------------------------------------

FOR WITHHOLD FOR ALL
ALL ALL EXCEPT

[_] [_] [_]

YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.

[LOGO]PIONEER
Investments(R)
PIONEER FLOATING RATE TRUST
PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 22, 2008

This proxy is solicited on behalf of the Board of Trustees of Pioneer Floating
Rate Trust. I (we), the undersigned holder(s) of preferred shares of beneficial
interest, having received notice of the meeting and management's proxy statement
therefor, and revoking all prior proxies, hereby appoint John F. Cogan, Jr.,
Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my (our)
attorneys (with full power of substitution in them and each of them) for and in
my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Floating Rate Trust to be held on September 22, 2008, at 2:00 p.m. (Eastern
time) at the offices of Bingham McCutchen LLP, One Federal Street, Boston,
Massachusetts 02110, and any adjourned session or sessions thereof, and to vote
and act upon the following matters (as more fully described in the accompanying
proxy statement) in respect of all preferred shares of beneficial interest of
Pioneer Floating Rate Trust which I (we) will be entitled to vote or act upon,
with all the powers I (we) would possess if personally present.

------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date

------------------------------------------------------------
Signature of joint owner, if any Date

--------------------------------------------------------------------------------

^ FOLD HERE ^

YOUR VOTE IS VERY IMPORTANT.

PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY

THE PREFERRED SHARES OF BENEFICIAL INTEREST REPRESENTED BY THIS PROXY WILL BE
VOTED AS DIRECTED BY THE UNDERSIGNED. IF THE PROXY IS SIGNED BUT NO DIRECTION IS
GIVEN, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.

01. Daniel K. Kingsbury 02. Benjamin M. Friedman 03. Margaret B.W. Graham

To withhold authority to vote "FOR" any individual nominee, mark the "FOR
ALL EXCEPT" box and write the nominee's number(s) on the line provided
below.

----------------------------------------------------------------------------

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK:

FOR WITHHOLD FOR ALL
ALL ALL EXCEPT

[_] [_] [_]

YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.

[LOGO]PIONEER
Investments(R)

PIONEER HIGH INCOME TRUST
PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 22, 2008

This proxy is solicited on behalf of the Board of Trustees of Pioneer High
Income Trust. I (we), the undersigned holder(s) of common shares of beneficial
interest, having received notice of the meeting and management's proxy statement
therefor, and revoking all prior proxies, hereby appoint John F. Cogan, Jr.,
Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my (our)
attorneys (with full power of substitution in them and each of them) for and in
my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer High
Income Trust to be held on September 22, 2008, at 2:00 p.m. (Eastern time) at
the offices of Bingham McCutchen LLP, One Federal Street, Boston, Massachusetts
02110, and any adjourned session or sessions thereof, and to vote and act upon
the following matters (as more fully described in the accompanying proxy
statement) in respect of all common shares of beneficial interest of Pioneer
High Income Trust which I (we) will be entitled to vote or act upon, with all
the powers I (we) would possess if personally present.

------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date

------------------------------------------------------------
Signature of joint owner, if any Date

--------------------------------------------------------------------------------

^ FOLD HERE ^

YOUR VOTE IS VERY IMPORTANT.

PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY

THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER HIGH INCOME TRUST
SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE PROVIDED. THE BOARD
RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:

1. To elect three Class III trustees of Pioneer High Income Trust, as named in
the attached proxy statement, to serve on the Board of Trustees until their
successors have been duly elected and qualified. The nominees for trustees
are:

01. Daniel K. Kingsbury 02. Benjamin M. Friedman 03. Margaret B.W. Graham

To withhold authority to vote "FOR" any individual nominee, mark the "FOR
ALL EXCEPT" box and write the nominee's number(s) on the line provided
below.

----------------------------------------------------------------------------

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK:

FOR WITHHOLD FOR ALL
ALL ALL EXCEPT

[_] [_] [_]

YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.

[LOGO]PIONEER
Investments(R)

PIONEER HIGH INCOME TRUST
PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 22, 2008

This proxy is solicited on behalf of the Board of Trustees of Pioneer High
Income Trust. I (we), the undersigned holder(s) of preferred shares of
beneficial interest, having received notice of the meeting and management's
proxy statement therefor, and revoking all prior proxies, hereby appoint John F.
Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my
(our) attorneys (with full power of substitution in them and each of them) for
and in my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
High Income Trust to be held on September 22, 2008, at 2:00 p.m. (Eastern time)
at the offices of Bingham McCutchen LLP, One Federal Street, Boston,
Massachusetts 02110, and any adjourned session or sessions thereof, and to vote
and act upon the following matters (as more fully described in the accompanying
proxy statement) in respect of all preferred shares of beneficial interest of
Pioneer High Income Trust which I (we) will be entitled to vote or act upon,
with all the powers I (we) would possess if personally present.

------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date

------------------------------------------------------------
Signature of joint owner, if any Date

--------------------------------------------------------------------------------

^ FOLD HERE ^

YOUR VOTE IS VERY IMPORTANT.

PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK:

01. Daniel K. Kingsbury 02. Benjamin M. Friedman 03. Margaret B.W. Graham

To withhold authority to vote "FOR" any individual nominee, mark the "FOR
ALL EXCEPT" box and write the nominee's number(s) on the line provided
below.

----------------------------------------------------------------------------

FOR WITHHOLD FOR ALL
ALL ALL EXCEPT

[_] [_] [_]

YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.

[LOGO]PIONEER
Investments(R)

PIONEER MUNICIPAL HIGH INCOME ADVANTAGE TRUST
PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 22, 2008

This proxy is solicited on behalf of the Board of Trustees of Pioneer Municipal
High Income Advantage Trust. I (we), the undersigned holder(s) of common shares
of beneficial interest, having received notice of the meeting and management's
proxy statement therefor, and revoking all prior proxies, hereby appoint John F.
Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my
(our) attorneys (with full power of substitution in them and each of them) for
and in my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Municipal High Income Advantage Trust to be held on September 22, 2008, at 2:00
p.m. (Eastern time) at the offices of Bingham McCutchen LLP, One Federal Street,
Boston, Massachusetts 02110, and any adjourned session or sessions thereof, and
to vote and act upon the following matters (as more fully described in the
accompanying proxy statement) in respect of all common shares of beneficial
interest of Pioneer Municipal High Income Advantage Trust which I (we) will be
entitled to vote or act upon, with all the powers I (we) would possess if
personally present.

------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date

------------------------------------------------------------
Signature of joint owner, if any Date

--------------------------------------------------------------------------------

^ FOLD HERE ^

YOUR VOTE IS VERY IMPORTANT.

PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY

THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER MUNICIPAL HIGH
INCOME ADVANTAGE TRUST SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE
PROVIDED. THE BOARD RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:

1. To elect three Class II trustees of Pioneer Municipal High Income Advantage
Trust, as named in the attached proxy statement, to serve on the Board of
Trustees until their successors have been duly elected and qualified. The
nominees for trustees are:

01. Daniel K. Kingsbury 02. Benjamin M. Friedman 03. Margaret B.W. Graham

To withhold authority to vote "FOR" any individual nominee, mark the "FOR
ALL EXCEPT" box and write the nominee's number(s) on the line provided
below.

----------------------------------------------------------------------------

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK:

FOR WITHHOLD FOR ALL
ALL ALL EXCEPT

[_] [_] [_]

YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.

[LOGO]PIONEER
Investments(R)
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE TRUST
PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 22, 2008

This proxy is solicited on behalf of the Board of Trustees of Pioneer Municipal
High Income Advantage Trust. I (we), the undersigned holder(s) of preferred
shares of beneficial interest, having received notice of the meeting and
management's proxy statement therefor, and revoking all prior proxies, hereby
appoint John F. Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and
each of them, my (our) attorneys (with full power of substitution in them and
each of them) for and in my (our) name(s) to attend the Annual Meeting of
Shareholders of Pioneer Municipal High Income Advantage Trust to be held on
September 22, 2008, at 2:00 p.m. (Eastern time) at the offices of Bingham
McCutchen LLP, One Federal Street, Boston, Massachusetts 02110, and any
adjourned session or sessions thereof, and to vote and act upon the following
matters (as more fully described in the accompanying proxy statement) in respect
of all preferred shares of beneficial interest of Pioneer Municipal High Income
Advantage Trust which I (we) will be entitled to vote or act upon, with all the
powers I (we) would possess if personally present.

------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date

------------------------------------------------------------
Signature of joint owner, if any Date

--------------------------------------------------------------------------------

^ FOLD HERE ^

YOUR VOTE IS VERY IMPORTANT.

PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY

01. Daniel K. Kingsbury 02. Benjamin M. Friedman 03. Margaret B.W. Graham

To withhold authority to vote "FOR" any individual nominee, mark the "FOR
ALL EXCEPT" box and write the nominee's number(s) on the line provided
below.

----------------------------------------------------------------------------

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK:

FOR WITHHOLD FOR ALL
ALL ALL EXCEPT

[_] [_] [_]

YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.

[LOGO]PIONEER
Investments(R)
PIONEER MUNICIPAL HIGH INCOME TRUST
PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 22, 2008

This proxy is solicited on behalf of the Board of Trustees of Pioneer Municipal
High Income Trust. I (we), the undersigned holder(s) of common shares of
beneficial interest, having received notice of the meeting and management's
proxy statement therefor, and revoking all prior proxies, hereby appoint John F.
Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my
(our) attorneys (with full power of substitution in them and each of them) for
and in my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Municipal High Income Trust to be held on September 22, 2008, at 2:00 p.m.
(Eastern time) at the offices of Bingham McCutchen LLP, One Federal Street,
Boston, Massachusetts 02110, and any adjourned session or sessions thereof, and
to vote and act upon the following matters (as more fully described in the
accompanying proxy statement) in respect of all common shares of beneficial
interest of Pioneer Municipal High Income Trust which I (we) will be entitled to
vote or act upon, with all the powers I (we) would possess if personally
present.

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Signature(s) [Title(s) if applicable] Date

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Signature of joint owner, if any Date

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^ FOLD HERE ^

YOUR VOTE IS VERY IMPORTANT.

PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY

THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER MUNICIPAL HIGH
INCOME TRUST SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE PROVIDED.
THE BOARD RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:

1. To elect three Class II trustees of Pioneer Municipal High Income Trust, as
named in the attached proxy statement, to serve on the Board of Trustees
until their successors have been duly elected and qualified. The nominees
for trustees are:

01. Daniel K. Kingsbury 02. Benjamin M. Friedman 03. Margaret B.W. Graham

To withhold authority to vote "FOR" any individual nominee, mark the "FOR
ALL EXCEPT" box and write the nominee's number(s) on the line provided
below.

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TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK:

FOR WITHHOLD FOR ALL
ALL ALL EXCEPT

[_] [_] [_]

YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.

[LOGO]PIONEER
Investments(R)
PIONEER MUNICIPAL HIGH INCOME TRUST
PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 22, 2008

This proxy is solicited on behalf of the Board of Trustees of Pioneer Municipal
High Income Trust. I (we), the undersigned holder(s) of preferred shares of
beneficial interest, having received notice of the meeting and management's
proxy statement therefor, and revoking all prior proxies, hereby appoint John F.
Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and each of them, my
(our) attorneys (with full power of substitution in them and each of them) for
and in my (our) name(s) to attend the Annual Meeting of Shareholders of Pioneer
Municipal High Income Trust to be held on September 22, 2008, at 2:00 p.m.
(Eastern time) at the offices of Bingham McCutchen LLP, One Federal Street,
Boston, Massachusetts 02110, and any adjourned session or sessions thereof, and
to vote and act upon the following matters (as more fully described in the
accompanying proxy statement) in respect of all preferred shares of beneficial
interest of Pioneer Municipal High Income Trust which I (we) will be entitled to
vote or act upon, with all the powers I (we) would possess if personally
present.

------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date

------------------------------------------------------------
Signature of joint owner, if any Date

--------------------------------------------------------------------------------

^ FOLD HERE ^

YOUR VOTE IS VERY IMPORTANT.

PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY

01. Daniel K. Kingsbury 02. Benjamin M. Friedman 03. Margaret B.W. Graham

To withhold authority to vote "FOR" any individual nominee, mark the "FOR
ALL EXCEPT" box and write the nominee's number(s) on the line provided
below.

----------------------------------------------------------------------------

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK:

FOR WITHHOLD FOR ALL
ALL ALL EXCEPT

[_] [_] [_]

YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.

[LOGO]PIONEER
Investments(R)

PIONEER DIVERSIFIED HIGH INCOME TRUST
PROXY
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD SEPTEMBER 22, 2008

This proxy is solicited on behalf of the Board of Trustees of Pioneer
Diversified High Income Trust. I (we), the undersigned holder(s) of common
shares of beneficial interest, having received notice of the meeting and
management's proxy statement therefore, and revoking all prior proxies, hereby
appoint John F. Cogan, Jr., Dorothy E. Bourassa and Christopher J. Kelley, and
each of them, my (our) attorneys (with full power of substitution in them and
each of them) for and in my (our) name(s) to attend the Annual Meeting of
Shareholders of Pioneer Diversified High Income Trust to be held on September
22, 2008, at 2:00 p.m. (Eastern time) at the offices of Bingham McCutchen LLP,
One Federal Street, Boston, Massachusetts 02110, and any adjourned session or
sessions thereof, and to vote and act upon the following matters (as more fully
described in the accompanying proxy statement) in respect of all common shares
of beneficial interest of Pioneer Diversified High Income Trust which I (we)
will be entitled to vote or act upon, with all the powers I (we) would possess
if personally present.

------------------------------------------------------------
Signature(s) [Title(s) if applicable] Date

------------------------------------------------------------
Signature of joint owner, if any Date

--------------------------------------------------------------------------------

^ FOLD HERE ^

YOUR VOTE IS VERY IMPORTANT.

PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD PROMPTLY

THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES OF PIONEER DIVERSIFIED HIGH
INCOME TRUST SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE PROVIDED.
THE BOARD RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING PROPOSAL:

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK:

1. To elect three Class I trustees of Pioneer Diversified High Income Trust,
as named in the attached proxy statement, to serve on the Board of Trustees
until their successors have been duly elected and qualified. The nominees
for trustees are:

01. Daniel K. Kingsbury 02. Benjamin M. Friedman 03. Margaret B.W. Graham

To withhold authority to vote "FOR" any individual nominee, mark the "FOR
ALL EXCEPT" box and write the nominee's number(s) on the line provided
below.

----------------------------------------------------------------------------

FOR WITHHOLD FOR ALL
ALL ALL EXCEPT

[_] [_] [_]

YOUR VOTE IS IMPORTANT. PLEASE COMPLETE, SIGN, DATE AND RETURN YOUR PROXY TODAY.