AVZ Amvescap

AIM Investments announced today the launch of AIM International Allocation Fund and AIM Income Allocation Fund. Also effective today, AIM is establishing additional share classes of AIM Summit Fund, which was formerly available only through limited distribution. AIM International Allocation Fund and AIM Income Allocation Fund are fund of funds, which means they invest their assets in other underlying mutual funds advised by A I M Advisors, Inc. AIM International Allocation Fund offers investors convenient entry into international markets through a single, broadly diversified portfolio that has the flexibility to invest across investment styles, market capitalizations, sectors and countries, both emerging and developed. The resulting portfolio blends five unique, complementary and established funds - AIM International Core Equity Fund, AIM International Growth Fund, AIM Global Value Fund, AIM International Small Company Fund, and AIM Developing Markets Fund - to create a versatile, core holding that provides broad international diversification. The underlying funds are managed by more than 30 seasoned portfolio managers and analysts with a wealth of international investment experience. AIM Income Allocation Fund offers investors a single, broadly diversified portfolio that has the flexibility to invest across multiple asset categories, including a mix of bond, stock, and real estate investment trust (REIT) funds, seeking opportunity for income, growth and mitigation of volatility. The resulting portfolio consists of nine underlying income and dividend-paying funds - AIM High Yield Fund, AIM Income Fund, AIM Intermediate Government Fund, AIM Total Return Bond Fund, AIM Diversified Dividend Fund, AIM International Core Equity Fund, AIM Utilities Fund, AIM Real Estate Fund, and AIM Short Term Bond Fund - with income and dividends paid on a quarterly basis. The fund reflects AIM's well-established and extensive experience in income and dividend-oriented products, as the nine underlying funds are managed by more than 50 veteran portfolio managers and analysts. Each fund offers annual rebalancing, which resets the funds to their original target allocations to help them maintain the appropriately diversified mix. AIM Summit Fund Adds Three Share Classes AIM Summit Fund now offers Class A, B and C shares through a broadly diversified fund that provides exposure across all market caps and sectors, and more than a 20-year track record. AIM Summit Fund seeks to produce consistent returns over the long term by investing in a portfolio that can be described as conservative growth - a potentially less volatile way to invest for growth, with greater focus on valuation and risk management. Important Risk Information about AIM International Allocation Fund The advisor may change the fund's asset class allocations, the underlying funds or the target weightings in the underlying funds at its discretion. --Investing in funds that invest internationally presents certain risks not associated with investing solely in the United States. These include, for instance, risks relating to fluctuations in the value of the U.S. dollar relative to the value of other currencies, the custody arrangements made for the fund's foreign holdings, political and economic risks, differences in accounting procedures, the lesser degree for public information required to be provided by non-U.S. companies, and relatively low market liquidity. --Investors will bear not just their share of the fund's operational expenses, but also, indirectly, the operating expenses of the underlying funds. --The advisor has the ability to select and substitute the underlying funds in which the fund invests, and may be subject to potential conflicts of interest in selecting underlying funds because it may receive higher fees from certain underlying funds than others. However, as a fiduciary to the fund, the advisor is required to act in the fund's best interest when selecting the underlying funds. --There is a risk that the advisor's evaluations and assumptions regarding the funds' broad asset classes or the underlying funds in which the funds invest may be incorrect based on actual market conditions. There is a risk that the fund will vary from the target weightings in the underlying funds due to factors such as market fluctuations. There can be no assurance that the underlying funds will achieve their investment objectives, and the performance of the underlying funds may be lower than the asset class which they were selected to represent. The underlying funds may change their investment objectives or policies without the approval of the funds. If that were to occur, the funds might be forced to withdraw their investments from the underlying funds at a time that is unfavorable to the funds. --Rising interest rates will affect the performance of the funds' investments in fixed-income mutual funds. --Investing in a fund that invests in micro, small and mid-sized companies involves risks not associated with investing in more established companies, such as business risk, stock price fluctuations and illiquidity. --Investing in funds that invest in higher-yielding, lower-rated debt securities (commonly known as "junk bonds") has a greater risk of price fluctuation and loss of principal and income than U.S. government securities, such as U.S. Treasury bills, notes and bonds. Treasuries are guaranteed by the government for repayment of principal and interest if held to maturity. Fund shares are not insured, and their value and yield will vary with market conditions. Investors should carefully assess the risk associated with an investment in the fund. --Investing in emerging markets involves greater risk and potential reward than investing in more established markets. --An underlying fund may participate in the initial public offering (IPO) market in some market cycles. If the underlying fund has a small asset base, any investment the underlying fund may make in IPOs may significantly affect the underlying fund's total return. As the underlying fund's assets grow, the impact of IPO investments will decline, which may reduce the effect of IPO investments on that fund's total return. --By concentrating on a small number of holdings, the fund carries greater risk because each investment has a greater effect on the fund's overall performance. --Some of the underlying funds may be non-diversified, which increases risk as well as potential reward. Important Risk Information about AIM Income Allocation Fund The advisor may change the fund's asset class allocations, the underlying funds or the target weightings in the underlying funds at its discretion. --Investing in funds that invest internationally presents certain risks not associated with investing solely in the United States. These include, for instance, risks relating to fluctuations in the value of the U.S. dollar relative to the value of other currencies, the custody arrangements made for the fund's foreign holdings, political and economic risks, differences in accounting procedures, the lesser degree for public information required to be provided by non-U.S. companies, and relatively low market liquidity. --Investors will bear not just their share of the fund's operational expenses, but also, indirectly, the operating expenses of the underlying funds. --The advisor has the ability to select and substitute the underlying funds in which the fund invests, and may be subject to potential conflicts of interest in selecting underlying funds because it may receive higher fees from certain underlying funds than others. However, as a fiduciary to the fund, the advisor is required to act in the fund's best interest when selecting the underlying funds. --There is a risk that the advisor's evaluations and assumptions regarding the funds' broad asset classes or the underlying funds in which the funds invest may be incorrect based on actual market conditions. There is a risk that the fund will vary from the target weightings in the underlying funds due to factors such as market fluctuations. There can be no assurance that the underlying funds will achieve their investment objectives, and the performance of the underlying funds may be lower than the asset class which they were selected to represent. The underlying funds may change their investment objectives or policies without the approval of the funds. If that were to occur, the funds might be forced to withdraw their investments from the underlying funds at a time that is unfavorable to the funds. --Rising interest rates will affect the performance of the funds' investments in fixed-income mutual funds. --Investing in a fund that invests in micro, small and mid-sized companies involves risks not associated with investing in more established companies, such as business risk, stock price fluctuations and illiquidity. --Investing in funds that invest in higher-yielding, lower-rated debt securities (commonly known as "junk bonds") has a greater risk of price fluctuation and loss of principal and income than U.S. government securities, such as U.S. Treasury bills, notes and bonds. Treasuries are guaranteed by the government for repayment of principal and interest if held to maturity. Fund shares are not insured, and their value and yield will vary with market conditions. Investors should carefully assess the risk associated with an investment in the fund. --The fund invests in securities issued or backed by the U.S. government, its agencies or instrumentalities. They offer a high degree of safety and, in the case of government securities, are guaranteed as to timely payment of principal and interest if held to maturity. Fund shares are not insured, and their value and yield will vary with market conditions. --Some of the underlying funds may invest in mortgage-backed securities, which may lose value if mortgages are prepaid in response to falling interest rates. --The funds may invest in funds that invest in real estate investment trusts (REITs) that present risks not associated with investing in stocks. --An underlying fund may participate in the initial public offering (IPO) market in some market cycles. If the underlying fund has a small asset base, any investment the underlying fund may make in IPOs may significantly affect the underlying fund's total return. As the underlying fund's assets grow, the impact of IPO investments will decline, which may reduce the effect of IPO investments on that fund's total return. --The fund invests in a fund that invests in synthetic instruments, the value of which may not correlate perfectly with the overall securities market. Some synthetic instruments are more sensitive to interest rate changes and market price fluctuations than others. Important Risk Information about AIM Summit Fund The fund can invest up to 20% of its assets in foreign securities that involve risks not associated with investing solely in the United States. --The fund may engage in active and frequent trading of portfolio securities, which may result in increased transaction costs and lower actual returns. Active trading may also increase short-term gains and losses, which may affect the taxes an investor will pay. --Investing in small and mid-sized companies involves greater risk not associated with investing in more established companies. Additionally, small companies have business risk, significant stock price fluctuations and illiquidity. About AIM Investments Houston-based AIM Investments represents one of the nation's leading investment management companies. It is dedicated to building solutions for its clients with exceptional products and services through multiple investment management styles and a broad range of investment portfolios - mutual funds, retirement products, separately managed accounts for high-net-worth and institutional investors, annuities, cash management, college savings plans, and offshore products. Founded in 1976, AIM Investments had $129 billion in assets under management as of Sept. 30, 2005. For more information, visit www.aiminvestments.com. AIM Investments is a service mark of A I M Management Group Inc. A I M Advisors, Inc., A I M Capital Management, Inc., and AIM Private Asset Management, Inc., are the investment advisors for the products and services represented by AIM Investments. A I M Distributors, Inc. is the distributor for the retail mutual funds and Fund Management Company is the distributor for the institutional money market funds represented by AIM Investments. About AMVESCAP A I M Management Group Inc. is a subsidiary of AMVESCAP PLC, a leading independent global investment manager, dedicated to helping people worldwide build their financial security. Operating under the AIM, INVESCO and Atlantic Trust brands, AMVESCAP strives to deliver outstanding products and services through a comprehensive array of retail and institutional products for clients around the world. The Company, which had approximately $381 billion in assets under management as of Sept. 30, 2005, is listed on the London, New York and Toronto stock exchanges with the symbol "AVZ." Additional information is available at www.amvescap.com. Note to editors--We are required to include the following information with our news release: Consider the investment objectives, risks, and charges and expenses carefully before investing. For this and other important information about any AIM fund, please obtain a prospectus from your financial advisor and read it carefully before investing. A I M Distributors, Inc.