AIM Investments(R) Announces Changes to Portfolio Management Team of AIM Mid Cap Basic Value Fund

  
    
  
  
    
      AIM Investments announced today that R. Canon Coleman II will become 
      lead portfolio manager of AIM Mid Cap Basic Value Fund effective Nov. 1, 
      2006.
    
    
      Mr. Coleman, who joined AIM Investments in 2000 as an analyst on the 
      Basic Value Team and named a portfolio manager in 2003, replaces Bret W. 
      Stanley as lead manager of the fund. Mr. Stanley will remain as a 
      co-manager along with Michael J. Simon. Michael Chapman, who recently 
      joined the Basic Value Team and has more than 10 years experience 
      working in the mid-cap space, also will become co-manager of the fund.
    
    
      Mr. Stanley will continue as lead manager of AIM Basic Balanced Fund, 
      AIM Basic Value Fund, AIM Large Cap Basic Value Fund, AIM V.I. Basic 
      Balanced Fund, and AIM V.I. Basic Value Fund.
    
    
      “This move follows recent additions to our 
      team and my belief that all of our Basic Value shareholders will benefit 
      from the increased focus that will result from this structure,” 
      said Mr. Stanley, head of AIM’s value 
      investing group.
    
    
      “Given Canon’s 
      success on the Basic Value Team, we are confident in his ability to 
      execute the Basic Value investment process and provide effective 
      leadership for this important fund,” said J. 
      Philip Ferguson, AIM’s chief investment 
      officer.
    
    
      Mr. Coleman is a CFA charterholder and joined AIM after serving in the 
      corporate associate program at AMVESCAP PLC, the parent company of AIM. 
      Previously, Mr. Coleman worked as a certified public accountant with 
      Deloitte & Touche from 1993 to 1997. He earned Bachelor of Science and 
      Master of Science degrees in accounting from the University of Florida 
      and a Master of Business Administration degree from The Wharton School 
      at the University of Pennsylvania.
    
    
      Mr. Chapman joined AIM in 2001 and served on various mid- and small-cap 
      investment teams before joining the Basic Value Team in 2006.
    
    
      About AIM Investments
    
    
      AIM Investments 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, exchange-traded funds, retirement products, separately 
      managed accounts for high-net-worth and institutional investors, 
      annuities, cash management, college savings plans and offshore products. 
      For more information, visit www.aiminvestments.com. 
      AIM Investments had approximately $146 billion in assets under 
      management as of Sept. 30, 2006. 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 $441 billion in assets under management 
      as of Sept. 30, 2006, 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.
    
    
      For this and other information about AIM variable insurance funds, 
      obtain a prospectus from the product issuer or an investment 
      professional that is an insurance-licensed agent and read it carefully 
      before investing.
    
    
      The AIM variable insurance funds are used solely as investment 
      vehicles by insurance company separate accounts to fund variable annuity 
      contracts and variable life insurance policies. You cannot purchase 
      shares of the funds directly. Expenses and fees are determined by 
      product issuers and will vary.
    
    
      The Chartered Financial Analyst® 
      (CFA®) designation 
      is a globally recognized standard for measuring the competence and 
      integrity of investment professionals.
    
    
      A I M Distributors, Inc.
    
  
AIM Investments announced today that R. Canon Coleman II will
become lead portfolio manager of AIM Mid Cap Basic Value Fund
effective Nov. 1, 2006.

   Mr. Coleman, who joined AIM Investments in 2000 as an analyst on
the Basic Value Team and named a portfolio manager in 2003, replaces
Bret W. Stanley as lead manager of the fund. Mr. Stanley will remain
as a co-manager along with Michael J. Simon. Michael Chapman, who
recently joined the Basic Value Team and has more than 10 years
experience working in the mid-cap space, also will become co-manager
of the fund.

   Mr. Stanley will continue as lead manager of AIM Basic Balanced
Fund, AIM Basic Value Fund, AIM Large Cap Basic Value Fund, AIM V.I.
Basic Balanced Fund, and AIM V.I. Basic Value Fund.

   "This move follows recent additions to our team and my belief that
all of our Basic Value shareholders will benefit from the increased
focus that will result from this structure," said Mr. Stanley, head of
AIM's value investing group.

   "Given Canon's success on the Basic Value Team, we are confident
in his ability to execute the Basic Value investment process and
provide effective leadership for this important fund," said J. Philip
Ferguson, AIM's chief investment officer.

   Mr. Coleman is a CFA charterholder and joined AIM after serving in
the corporate associate program at AMVESCAP PLC, the parent company of
AIM. Previously, Mr. Coleman worked as a certified public accountant
with Deloitte & Touche from 1993 to 1997. He earned Bachelor of
Science and Master of Science degrees in accounting from the
University of Florida and a Master of Business Administration degree
from The Wharton School at the University of Pennsylvania.

   Mr. Chapman joined AIM in 2001 and served on various mid- and
small-cap investment teams before joining the Basic Value Team in
2006.

   About AIM Investments

   AIM Investments 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, exchange-traded funds, retirement products, separately managed
accounts for high-net-worth and institutional investors, annuities,
cash management, college savings plans and offshore products. For more
information, visit www.aiminvestments.com. AIM Investments had
approximately $146 billion in assets under management as of Sept. 30,
2006. 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 $441 billion in assets under
management as of Sept. 30, 2006, 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.

   For this and other information about AIM variable insurance funds,
obtain a prospectus from the product issuer or an investment
professional that is an insurance-licensed agent and read it carefully
before investing.

   The AIM variable insurance funds are used solely as investment
vehicles by insurance company separate accounts to fund variable
annuity contracts and variable life insurance policies. You cannot
purchase shares of the funds directly. Expenses and fees are
determined by product issuers and will vary.

   The Chartered Financial Analyst(R) (CFA(R)) designation is a
globally recognized standard for measuring the competence and
integrity of investment professionals.

   A I M Distributors, Inc.