AMVESCAP Purchases Stein Roe Investment Counsel LLC

AMVESCAP Purchases Stein Roe Investment Counsel LLC
To Integrate Into Atlantic Trust Private Wealth Management Division 


LONDON, March 1  /PRNewswire-FirstCall/ -- AMVESCAP PLC  announced today it has
completed its acquisition of Stein Roe Investment Counsel LLC.  Stein Roe
Investment Counsel, with offices in Chicago, New York, Newport Beach, and San
Francisco, will become part of the Atlantic Trust Group, the private wealth
management division of AMVESCAP.  Upon integration, Stein Roe Investment Counsel
will add approximately $7 billion in assets under management to Atlantic Trust.

Stein Roe Investment Counsel traces its origins to 1932 when a wealthy Chicago
family became the first clients of Sydney Stein, Jr. and Frederick Roe. Today,
it is one of the largest U.S.-based independent investment counseling firms,
focused on managing capital and providing advisory services for high net worth
individuals and families, charities, and other institutions.

John "Jack" S. Markwalter, Jr. will serve as the president and chief executive
officer of the combined company, Atlantic Trust Group.  William E. Rankin,
former president and chief executive officer of Stein Roe Investment Counsel
LLC, will be chairman of the management committee of Atlantic Trust Group and
serve as chief executive officer of Stein Roe Investment Counsel, Inc.

"With the completion of our acquisition of Stein Roe Investment Counsel,
Atlantic Trust is even better positioned to serve the wealth management needs of
our high net worth clients through our now 13 offices located across the United
States," commented Markwalter.  "Combined, our dedicated and talented team of
professionals will manage in excess of $16 billion in client assets."

Rankin added, "We are pleased to be bringing together two firms with such
similar cultures and client focus.  Our combined group of experienced
professionals has a very similar approach to providing our clients with superior
wealth management services, which will lead to a successful integration."

About Atlantic Trust Group

Atlantic Trust Group, Inc., a division of AMVESCAP, is a leading wealth
management firm that provides comprehensive asset management and financial
advisory services to private clients around the world. Atlantic TrustGroup
manages wealth for individuals and families, and provides asset management
services to foundations and endowments. With the addition of Stein Roe
Investment Counsel, Inc., the Group has over $16 billion in assets under
management (as of December 31, 2003).  Atlantic Trust Private Wealth Management
and Stein Roe Investment Counsel provide investment management, asset
allocation, trust, custody, and family office services through offices in New
York, Boston, Chicago, Atlanta, San Francisco, Houston, Palm Beach, Austin,
Winston-Salem, Baltimore, Denver, Newport Beach, and Washington, D.C. For more
information, please visit http://www.atlantictrust.com/ and http://www.sric.net/
.

About AMVESCAP

AMVESCAP is a leading independent global investment manager, dedicated to
helping people worldwide build their financial security.  Operating under the
Atlantic Trust, AIM, and INVESCO brands, AMVESCAP strives to deliver outstanding
investment performance and service through a comprehensive array of retail and
institutional products for clients in more than 100 countries. The company is
listed on the London, New York, Paris, and Toronto stock exchanges with the
symbol "AVZ."  For more information, please visit http://www.amvescap.com/ .

Cambridge International Partners, Inc. acted as financial advisor to AMVESCAP in
this transaction. 

DATASOURCE: AMVESCAP



CONTACT:  Marsha L. Askins, Director of Marketing & Communications of

Atlantic Trust Private Wealth Management, [phone], or

 



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

http://www.atlantictrust.com/

http://www.sric.net/ 

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