AMVESCAP Completes Acquisition of WL Ross & Co. LLC

ATLANTA, Oct. 3  /PRNewswire-FirstCall/ -- AMVESCAP PLC (NYSE:AVZ) today announced it has completed its previously announced acquisition of WL Ross & Co. LLC, one of the industry's leading financial restructuring groups.  WL Ross & Co., led by Wilbur Ross and his team, will assume responsibility for the direct private equity business of AMVESCAP, with $4.4 billion in combined assets (as of June 30, 2006) for institutions and high net worth individuals.

"We are pleased to welcome Wilbur Ross and his team of experienced investment managers to AMVESCAP," said Marty Flanagan, president and chief executive officer of AMVESCAP. "Wilbur's expertise and storied success in the financial restructuring business is legendary.  The addition of this exceptional team to AMVESCAP expands the range of high quality alternative investment offerings for our clients."

"Joining AMVESCAP, one of the world's premier asset managers, greatly expands our resources and allows us to introduce our capabilities to a broader set of investors globally," said Mr. Ross.

WL Ross & Co. manages assets for institutional investors in the U.S., Europe and Asia.  It was formed in April 2000 by Wilbur Ross as an independent organization dedicated to private investments and fund management for institutional investors and family offices across the globe.  The company has sponsored alternative investments including private equity funds, co-investment vehicles and hedge funds in the steel, textile, coal, automotive and financial services industries in the U.S., U.K., France, Germany, China, Japan, Korea, Vietnam, India, Brazil, and Bermuda.

AMVESCAP is a leading independent global investment manager, dedicated to helping people worldwide build their financial security.  Operating under the AIM, AIM Trimark, INVESCO, Invesco Perpetual and Atlantic Trust brands, AMVESCAP strives to deliver outstanding products and services through a comprehensive array of enduring investment solutions for our retail, institutional and private wealth management clients around the world.  The company is listed on the London, New York and Toronto stock exchanges under the symbol "AVZ."  Additional information is available at http://www.amvescap.com/.

This release may include statements that constitute "forward-looking statements" under the United States securities laws.  Forward-looking statements include information concerning possible or assumed future results of our operations, earnings, liquidity, cash flow and capital expenditures, industry or market conditions, assets under management, acquisition activities and the effect of completed acquisitions, debt levels and the ability to obtain additional financing or make payments on our debt, regulatory developments, demand for and pricing of our products and other aspects of our business or general economic conditions.  In addition, when used in this report, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects" and future or conditional verbs such as "will," "may," "could," "should" and "would," or any other statement that necessarily depends on future events, are intended to identify forward-looking statements.

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DATASOURCE: AMVESCAP PLC



CONTACT:  Bill Hensel, Director of Media Relations of AMVESCAP,

[phone] 



Web site:  http://www.amvescap.com/ 

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