AVZ Amvescap

AIM Investments announced today that AIM High Income Municipal Fund will be offered on a limited basis to certain investors, effective at the close of business on August 5, 2005. The fund will still be available for investment to existing shareholders. Other investors may also open new accounts upon approval of A I M Distributors, Inc., the fund's distributor. A complete list of eligible investors is available in the fund's prospectus. Investing in higher-yielding, lower-rated corporate bonds, commonly known as "junk bonds," has a greater risk of price fluctuation and loss of principal and income than higher-rated general obligation municipal bonds and 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. Because the fund may invest a relatively high percentage of its total assets in municipal securities issued by entities having similar characteristics, the value of your shares may rise and fall more than the shares of a fund that invests in a broader range of securities. Income may be subject to state and local taxes, as well as the alternative minimum tax. This information does not constitute tax advice. Please consult your tax advisor about your particular situation. 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 $131 billion in assets under management as of March 31, 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 $375 billion in assets under management as of March 31, 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., Distributor.