AIM Select Real Estate Income Fund Board of Trustees Declares Distributions for August and September 2006, Board of Trustees De

The Board of Trustees for AIM Select Real Estate Income
Fund (NYSE:RRE), AIM's closed-end real estate fund, has declared
distributions to be paid during August and September 2006.
   A distribution of $0.1040 per share will be paid on August 30,
2006, for fund shareholders of record on August 18, 2006. The
distribution consists of approximately $0.0254 of net investment
income and approximately $0.0786 of return of capital.
   A distribution of $0.1040 per share will be paid on September 28,
2006, to fund shareholders of record on September 18, 2006. The
distribution consists of approximately $0.0792 of net investment
income and approximately $0.0248 of return of capital.
   Monthly distributions for the fund may later be recharacterized
depending on how the character of portfolio distributions received by
the fund is reported be real estate investment trusts (REITs) after
the end of the calendar year.
   The fund's Board of Trustees has determined that it is in the best
interests of the holders of the fund's Common Shares to reorganize the
fund as an open-end fund. Among other benefits, such a reorganization
will eliminate the Common Shares' trading discount to net asset value.
Formal Board approval of all actions necessary to accomplish the
reorganization is anticipated to occur in the coming months, at which
time the fund will announce the terms of the reorganization. Before
the fund can reorganize as an open-end fund, it will be required to
redeem its outstanding Auction Rate Preferred Shares (ARPS) and to
obtain the approval of the holders of its Common Shares. The
reorganization also will be subject to making the necessary regulatory
filings with the Securities and Exchange Commission (SEC) and
receiving subsequent SEC approval.
   The fund has, from time to time, purchased its Common Shares in
open-market purchases. The fund has ceased purchasing its Common
Shares as a result of the Board's determination to reorganize the fund
as an open-end fund.
   This communication does not constitute an offer to purchase or
sell any securities.

   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, 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 $135 billion in assets under management as of June 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 INVESCO Institutional

   INVESCO Institutional (N.A.), Inc. is the principal adviser in the
North American institutional division of AMVESCAP PLC. It is
registered as an investment adviser with the SEC and is the subadviser
to AIM Select Real Estate Income Fund. Dallas-based INVESCO Real
Estate, the real estate division of INVESCO Institutional, commenced
operations in 1983. For more information, visit
www.invescorealestate.com.

   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 $414 billion in assets under
management as of June 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.