AIM Select Real Estate Income Fund Board of Trustees Approves Redemptions of Auction Rate Preferred Shares (Series M, W, R and F) and Sets Terms of Redemptions.HOUSTON -- On September 19, 2006, the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of AIM Select Real Estate Income Fund (the "Fund") (NYSE NYSE See: New York Stock Exchange :RRE RRE Red Rock Eater (News Service) RRE Road Race Engineering RRE Remote Roof Easy RRE Residential Real Estate RRE Rise-And-Run-Length Encoding RRE Royal Radar Establishment (Great Britain) ) unanimously voted to approve the redemption by the Fund of all of its outstanding Series M, Series W, Series R and Series F Auction Rate Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. (the "ARPS ARPS See: Adjustable-rate preferred stock ARPS See: Auction rate preferred stock "). The Board has set the terms of such redemptions, which terms are stated below. The ARPS had been used by the Fund to enhance net income distributable to holders of the Fund's Common Shares. As a result of the redemption by the Fund of the ARPS, it is expected that net income available for distribution to the holders of the Fund's Common Shares will decrease. Series M ARPS The Fund will redeem 100% (2,050 shares) of its then outstanding Series M Auction Rate Preferred Shares par value $.001 per share, $25,000 Liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy Preference per share (the "Series M ARPS"), on Tuesday, October 24, 2006 (the "Series M Redemption Date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. "). The Series M ARPS will be redeemed pursuant to and in accordance with Part I, Section 3(a)(i) of the Fund's Second Amended and Restated Statement Establishing and Fixing the Rights and Preference of the Auction Rate Preferred Shares. All such Series M ARPS are to be redeemed from CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. # 00888R-20-6. On the Series M Redemption Date, shareholders of the Series M ARPS will receive $25,000 per share for each Series M ARPS share redeemed, which is equal to the liquidation preference of the Series M ARPS, plus an amount equal to the accumulated but unpaid dividends Unpaid dividend A dividend declared by the directors of a corporation that has not yet been paid. unpaid dividend 1. A declared dividend that has not yet been paid. 2. See passed dividend. on such Series M ARPS for the weekly dividend period ending the business day before the Series M Redemption Date. Dividends on the Series M ARPS to be redeemed will cease to accumulate on the Series M Redemption Date. Series W ARPS The Fund will redeem 100% (2,050 shares) of its then outstanding Series W Auction Rate Preferred Shares par value $.001 per share, $25,000 Liquidation Preference per share (the "Series W ARPS"), on Thursday, November 2, 2006 (the "Series W Redemption Date"). The Series W ARPS will be redeemed pursuant to and in accordance with Part I, Section 3(a)(i) of the Fund's Second Amended and Restated Statement Establishing and Fixing the Rights and Preference of the Auction Rate Preferred Shares. All such Series W ARPS are to be redeemed from CUSIP # 00888R-30-5. On the Series W Redemption Date, shareholders of the Series W ARPS will receive $25,000 per share for each Series W ARPS share redeemed, which is equal to the liquidation preference of the Series W ARPS, plus an amount equal to the accumulated but unpaid dividends on such Series W ARPS for the weekly dividend period ending the business day before the Series W Redemption Date. Dividends on the Series W ARPS to be redeemed will cease to accumulate on the Series W Redemption Date. Series R ARPS The Fund will redeem 100% (2,050 shares) of its then outstanding Series R Auction Rate Preferred Shares par value $.001 per share, $25,000 Liquidation Preference per share (the "Series R ARPS"), on Friday, November 10, 2006 (the "Series R Redemption Date"). The Series R ARPS will be redeemed pursuant to and in accordance with Part I, Section 3(a)(i) of the Fund's Second Amended and Restated Statement Establishing and Fixing the Rights and Preference of the Auction Rate Preferred Shares. All such Series R ARPS are to be redeemed from CUSIP # 00888R-40-4. On the Series R Redemption Date, shareholders of the Series R ARPS will receive $25,000 per share for each Series R ARPS share redeemed, which is equal to the liquidation preference of the Series R ARPS, plus an amount equal to the accumulated but unpaid dividends on such Series R ARPS for the weekly dividend period ending the business day before the Series R Redemption Date. Dividends on the Series R ARPS to be redeemed will cease to accumulate on the Series R Redemption Date. Series F ARPS The Fund will redeem 100% (2,050 shares) of its then outstanding Series F Auction Rate Preferred Shares par value $.001 per share, $25,000 Liquidation Preference per share (the "Series F ARPS"), on Monday, October 30, 2006 (the "Series F Redemption Date"). The Series F ARPS will be redeemed pursuant to and in accordance with Part I, Section 3(a)(i) of the Fund's Second Amended and Restated Statement Establishing and Fixing the Rights and Preference of the Auction Rate Preferred Shares. All such Series F ARPS are to be redeemed from CUSIP # 00888R-50-3. On the Series F Redemption Date, shareholders of the Series F ARPS will receive $25,000 per share for each Series F ARPS share redeemed, which is equal to the liquidation preference of the Series F ARPS, plus an amount equal to the accumulated but unpaid dividends on such Series F ARPS for the weekly dividend period ending the business day before the Series F Redemption Date. Dividends on the Series F ARPS to be redeemed will cease to accumulate on the Series F Redemption Date. This communication does not constitute an offer to purchase or sell any securities nor is it a solicitation of any proxy. 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 Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. , annuities, cash management, college savings plans and offshore products. For more information, visit www.aiminvestments.com. AIM Investments had approximately $138 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. as of August 31, 2006. 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 Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and for the products and services represented by AIM Investments. 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 INVESCO Institutional INVESCO Institutional (N.A.), Inc. is the principal adviser in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. 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. About AMVESCAP A I M Management Group Inc. is a subsidiary of AMVESCAP PLC, a leading independent global investment manager, dedicated to helping people worldwide build their financial security. Operating under the AIM, INVESCO and Atlantic Trust brands, AMVESCAP strives to deliver outstanding products and services through a comprehensive array of retail and institutional products for clients around the world. The Company, which had approximately $429 billion in assets under management as of August 31, 2006, is listed on the London, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Toronto stock exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. with the symbol "AVZ." Additional information is available at www.amvescap.com. AIM Select Real Estate Income Fund is a closed-end fund Closed-end fund An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. which is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . |
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