January 2, 2003

AIM Reshuffles Some Managers

Dec. 31, 2002 -- AIM Capital Management announced several year-end fund management changes and reassignments effective December 31:

FundNew Management TeamPrior Management TeamYTD Return Thru 12/30

  • Asia Pacific Growth FundBarrett Sides, Shuxin CaoSides, Cao, Dale Griffin-11.3%
  • AIM Global Science & Technology Fund/A (GTTCX) Abel Garcia, David Barnard, Warren TennantGarcia, Barnard, Robert Lloyd-43.9%
  • AIM International Growth Fund/A (AIIEX) Clas Olsson, Barrett Sides, Jason HolzerOlsson, Sides, Holzer, Griffin-14.7%
  • AIM Large Cap Core Equity/A (LCEAX) Meggan Walsh, J. Philip FergusonRonald Sloan, Roger Mortimer-13.1%
  • AIM New Technology Fund/A (ANTAX) Abel Garcia, David Barnard, Warren TennantGarcia, Barnard, Robert Lloyd-45.3%
  • AIM Premier Equity Fund/A (AVLFX) Evan Harrel, Robert SheltonHarrel, Joel Dobberpuhl, Shelton-30.9%
  • AIM Premier Equity II Fund/A (VIIAX) Evan Harrel, Robert SheltonHarrel, Joel Dobberpuhl, Shelton-30.2%
  • AIM Select Equity Fund/A (AGWFX) Polly A. Ahrendts, Duy Nguyen, J. Philip FergusonAhrendts-29.9%
  • AIM Summit Fund/I (SMMIX) David Barnard, Robert Lloyd, Bret Stanley, Kenneth ZschappelBarnard, Lloyd, Stanley-30.3%
  • AIM Worldwide Spectrum Fund/A (AWSAX) Roger Mortimer, Glen HiltonJoel Dobberpuhl, Clas Olsson-8.1%

Sloan remains lead manager of AIM Mid Cap Core Equity Fund/A (GTAGX) and AIM Charter Fund/A (CHTRX).

Walsh continues as lead manager for AIM Global Financial Services Fund/A (GFSAX), and co-manager of AIM Balanced Fund/A (AMBLX) and AIM Global Utilities Fund/A (AUTLX).

Ferguson joined AIM in 2000 as a senior investment officer has more than 30 years of investment experience.

Dobberpuhl and Griffin have retired, effective December 31.

Mortimer also continues as lead manager of AIM Global Energy Fund/A (GTNAX).

Hilton joined AIM in 2002 and began his investment career in 1995 at Montgomery Asset Management, where he held a variety of positions, including senior analyst and portfolio manager.

Zschappel is also lead manager of AIM Constellation Fund/A (CSTGX) and a co-manager for AIM Mid Cap Growth Fund/A (AMCAX).

Tennant joined AIM in 2000.

Barnard and Ahrendts will each retire on Jan. 31, 2003.

"These changes coincide with the required end-of-year updating of their respective prospectuses," said David Bachert, a spokesman for AIM Funds. "They are also being done to replace a number of managers who are retiring either today or next month."

As reported in November, AIM said the retirements of the four portfolio managers were tied to an ongoing workforce reduction. The company does not expect more portfolio managers to retire as a result of the reduction.

AIM Capital Management is an indirect subsidiary of Anglo-American fund manager AMVESCAP PLC (AVZ), which said in October that it expected to cut 500 jobs by the end of the first quarter of 2003.

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