AIM Eastern Europe Fund Announces Annual Shareholder Meeting.

HOUSTON--(BUSINESS WIRE)--June 10, 1999--

A I M Advisors, Inc. (AIM) announced today that the 1999 annual shareholders' meeting for AIM Eastern Europe Fund (NYSE:GTF) is scheduled for Wednesday, August 25, 1999 at 3:00 p.m. Central time. The meeting will convene at the Fund's offices located at 11 Greenway Plaza, Suite 100, Houston, Texas. AIM is a subsidiary of AMVESCAP PLC (NYSE:AVZ), one of the world's largest independent investment services companies.

Items expected to be presented for shareholder approval at the 1999 annual shareholders' meeting include: (1) a proposal to reorganize the Fund into AIM Developing Markets Fund (an open-end investment company managed by A I M Advisors, Inc.); (2) the election of a Trustee of the Fund; and (3) the ratification of the selection of PricewaterhouseCoopers LLP as the Fund's independent public accountants.

Shareholders of record of the Fund as of the close on business on June 21, 1999 will be entitled to notice of and to vote at the 1999 annual shareholders' meeting. AIM Eastern Europe Fund is a closed-end investment company.

AIM was founded in 1976 and ranks as the nation's 10th-largest mutual fund complex, according to independent mutual fund monitor Strategic Insight, with approximately $112 billion in assets under management and 6.3 million shareholders as of March 31, 1999. AMVESCAP PLC had $280 billion in assets under management as of March 31, 1999.

Note to editors -- We are required to include the following information with our news release: For more complete information about any AIM Fund, including sales charges and expenses, please obtain the appropriate prospectus(es) from your financial consultant or by calling 800/347-4246. Please read the prospectus carefully before you invest or send money. For more information about AIM, visit our website: http://www.aimfunds.com .

A I M Distributors, Inc., Distributor.