AMVESCAP PLC Elects Denis Kessler a Non-Executive Director.

Business Editors

LONDON--(BUSINESS WIRE)--March 5, 2002

AMVESCAP PLC today announced that Denis Kessler, 49, has been elected a non-executive member of the Board of Directors.

Mr. Kessler is a noted economist and executive chairman of the French Federation of Insurance Companies (FFSA) and executive vice chairman of the French Business Confederation (MEDEF).

"We welcome the perspective and experience that Denis brings to the Board of Directors," said Charles W. Brady, chairman and chief executive officer of AMVESCAP. "His election adds to the high level of talent already on the Board."

Mr. Kessler is a member of the French Association for Economic Sciences and the International Association for Research on Income and Wealth, and a member of the Boards of Directors of BNP Paribas and Dexia Bank. Previously he was a director of the Union of Insurance Companies of Paris. He will be joining AMVESCAP's Audit, Nomination and Remuneration Committees. There is nothing further to disclose for Mr. Kessler pursuant to Rule 16.4 of the Listing Rules of the U.K. Listing Authority. Mr. Kessler will be standing for election for a full term at the next Annual General Meeting in April 2002.

Additionally, de Guardiola Advisors, Inc. has been retained to work with senior management in evaluating and implementing strategy. As a result, Roberto de Guardiola, a non-executive director since 1997, has resigned from the Board effective March 5, 2002.

"Roberto's knowledge and insight have added an important dimension to AMVESCAP's Board. I speak for the entire Board in thanking him for his dedicated service," said Mr. Brady. "We look forward to continue to benefit from his sound advice and counsel on strategic issues."

With these changes, the chairmanships of committees of the Board are as follows: Mr. Rex Adams is chairman of the Remuneration Committee; Mr. Bevis Longstreth is chairman of the Audit Committee; Sir John Banham is chairman of the Nomination Committee. As previously indicated, Sir John Banham is the senior non-executive director.

AMVESCAP is 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 investment performance and service through a comprehensive array of retail and institutional products for clients in more than 100 countries. The Company is listed on the London, New York, Paris, and Toronto stock exchanges with the symbol AVZ. Additional information is available at www.amvescap.com.