AIM Investments(R) Announces Limited Offering of AIM High Income Municipal Fund

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.