AIM Select Real Estate Income Fund Board of Trustees Declares Distributions for October 2006 and Formally Approves Plan of Reorganization to Open-End Fund.HOUSTON -- The Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. for AIM Select Real Estate Income Fund (ASREIF) (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) ), AIM's closed-end real estate fund, has declared distributions to be paid during October 2006. A distribution of $0.1040 per share will be paid on October 30, 2006, to fund shareholders of record on October 20, 2006. The distribution consists of approximately $0.0716 of net investment income and approximately $0.0324 of return of capital. Monthly distributions for ASREIF may later be recharacterized depending on how the character of portfolio distributions received by ASREIF is reported by real estate investment trusts (REITs) after the end of the calendar year. ASREIF's Board of Trustees has formally approved a Plan of Reorganization (the Plan) to reorganize ASREIF as an open-end fund Open-End Fund A mutual fund that continues to sell shares to investors, and will buy back shares when investors wish to sell. Notes: Open-end funds have no limit to the number of shares they can issue. The majority of mutual funds are open end. . This formal approval follows the determination by the Board at their August 1, 2006 Board meeting that it is in the best interests of the holders of ASREIF's Common Shares to reorganize ASREIF as an open-end fund. On September 19, 2006, the Board unanimously voted to approve the Plan, pursuant to which ASREIF would transfer all of its assets to a newly created open-end series portfolio of AIM Counselor Series Trust (ACST ACST Advisory Council on Science and Technology (Canada, PM) ACST Acoustic ACST Avon Community Swim Team (Indiana) ACST Agni Computer Security Technologies ). This newly created open-end fund will also be named AIM Select Real Estate Income Fund. The Plan requires approval by the holders of ASREIF's Common Shares and will be submitted to shareholders for their approval at a meeting to be held on or about February 26, 2007. Any solicitation of proxies by ASREIF in connection with the shareholder meeting will only be made pursuant to separate proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other sent to shareholders and filed with the Securities and Exchange Commission pursuant to applicable federal securities laws. If the Plan is approved by the holders of ASREIF's Common Shares and certain conditions required by the Plan are satisfied, the reorganization of ASREIF as an open-end fund is expected to be consummated on or about March 12, 2007. Upon closing of the reorganization, holders of ASREIF's Common Shares will receive Class A shares of AIM Select Real Estate Income Fund, the newly created open-end series portfolio of ACST, in exchange for their Common Shares and ASREIF will cease operations. As previously reported, ASREIF has ceased purchasing its Common Shares in open market purchases as a result of the Board's determination to reorganize ASREIF as an open-end fund. 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, 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 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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