AVZ Amvescap

AIM Investments announced today that the proposed reorganization of AIM Select Real Estate Income Fund as an open-end fund has been approved by shareholders of the fund. The reorganization, which is expected to be a tax-free reorganization, will become effective at the open of business on March 12, 2007 (the �Closing Date�). As set forth in the Agreement and Plan of Reorganization, shareholders of the closed-end fund will receive Class A shares of the open-end fund. For the twelve months after the Closing Date, shareholders who redeem Class A shares of the open-end fund received in connection with the reorganization will pay a 2.00% redemption fee. To facilitate the transition from a closed-end fund (NYSE:RRE) to an open-end fund, trading will be halted in the fund after market close on March 6, 2007. The fund will withdraw its shares from listing on the New York Stock Exchange after the Closing Date. 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 $153 billion in assets under management as of Jan. 31, 2007. 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 Advisors, Inc. is the investment advisor for AIM Select Real Estate Income Fund. 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 AMVESCAP is a leading independent global investment manager, dedicated to helping people worldwide build their financial security. Operating under the AIM, AIM Trimark, Atlantic Trust, INVESCO, Invesco Perpetual, PowerShares and WL Ross & Co. 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, which had approximately $469 billion in assets under management as of Jan. 31, 2007, is listed on the London, New York and Toronto stock exchanges with the symbol �AVZ.� Additional information is available at www.amvescap.com. 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.