AMVESCAP PLC Purchases County Investment Management.

Business Editors

LONDON--(BUSINESS WIRE)--Dec. 20, 2000

AMVESCAP PLC (NYSE:AVZ) today announced that it has entered into an agreement to purchase County Investment Management from National Australia Bank for approximately (pound) 41 million. This comprises a minimum price of (pound) 33 million and an adjustment of approximately (pound) 8 million based on revenue retention. The acquisition is subject to regulatory approval in Australia and is expected to close early in 2001.

"The purchase of County gives us the opportunity to fully participate in one of the world's fastest growing pension markets," said Mr. Charles Brady, chairman and chief executive officer of AMVESCAP. "This acquisition dramatically expands our position in Australia, consistent with our stated goal of building a leading position in all of the world's major financial markets."

INVESCO began in Australia in 1982 and has offices in Sydney and Melbourne to provide client service expertise to Australasian investors.

County is a leading Australian institutional asset manager with approximately A$ 14.1 billion (US$ 7.6 billion) in funds under management at 30 November 2000. The company, formed in 1985, ranks in the top 15 Australian investment managers. It provides a diversified range of products across all major asset classes to a broad client base including corporate and industry superannuation (pension) funds, master trusts, public authorities, charities and individuals.

AMVESCAP is one of the world's largest independent investment managers, operating under the AIM and INVESCO brand names. AMVESCAP offers a broad array of investment products and services to institutions and individuals across all distribution channels. The Company is listed on the London, New York, Paris and Toronto Stock Exchanges with the symbol "AVZ."