AIM Announces Availability of August Portfolio Information for AIM Select Real Estate Income Fund.

Business Editors & Real Estate Writers

HOUSTON--(BUSINESS WIRE)--Sept. 16, 2002

A I M Advisors, Inc., the investment advisory subsidiary of A I M Management Group Inc. (AIM), announced today that August portfolio information for AIM Select Real Estate Income Fund (NYSE:RRE), AIM's closed-end real estate fund, is now available upon request.

"We are pleased with the diversity achieved in the fund. In addition to broad geographic and property sector diversification, the fund is well-diversified by issuer," said Joe Rodriguez, portfolio manager of the AIM Select Real Estate Income Fund. "In fact, no single company represents more than a 4% position in the fund.

"The portfolio is focused on REIT common stocks rather than REIT preferred stock. With the REIT market pullback in July, we were pleased to find ample opportunities in REIT common shares that met the fund's income and growth objectives. If history is any guide, REIT common shares may continue to grow their dividends, while REIT preferred share dividends remain fixed."

Portfolio information may be obtained by calling 800/959-4246, accessing AIM's Web site -- www.aimfunds.com, or by writing to A I M Management Group Inc., 11 Greenway Plaza, Suite 100, Houston, Texas 77046-1173. Information will be updated on or about the 15th day of each month.

About AIM

Houston-based AIM is one of the nation's leading investment management companies. It is dedicated to providing its clients with high-quality products and service through multiple investment management styles and a broad product range of retail equity, fixed-income, and money market funds, institutional portfolios, and separately managed accounts for high-income individuals. Founded in 1976, AIM had approximately $135 billion in assets under management and more than 9 million shareholders as of June 30, 2002. For more information, visit www.aimfunds.com.

About INVESCO

INVESCO Institutional (N.A.) Inc. is the North American institutional division of AMVESCAP PLC. It is registered as an investment adviser with the SEC and subadviser to AIM Select Real Estate Income Fund. Dallas-based INVESCO Realty Advisors, the real estate division of INVESCO Institutional, commenced operations in 1983 and, together with its affiliates, managed or provided advisory services on more than $9.7 billion in private real estate and publicly traded real estate securities as of June 30, 2002. For more information, visit www.institutional.invesco.com.

About AMVESCAP

AIM is an indirect subsidiary of AMVESCAP PLC (NYSE:AVZ), a leading independent global investment manager dedicated to helping people worldwide build their financial security through a comprehensive array of retail and institutional products for clients in more than 100 countries. AMVESCAP had $364 billion in assets under management as of June 30, 2002. Additional information is available at www.amvescap.com.