[INVESCO LOGO APPEARS HERE]
- --Registered Trademark--


                4350 South Monaco Street, Denver, Colorado 80237


November 6, 2003

Dear Shareholder:

We are writing to inform you that the October 21, 2003 Special Meeting of
Shareholders which was originally adjourned until October 28, 2003, has been
adjourned for a third time due to a lack of investor response. We have made
several attempts to reach shareholders by mail and/or phone in the last few
weeks, however, our records still indicate that we have not received voting
instructions for your account(s). In an effort to avoid incurring any further
expenses, we are asking you to please take a moment right now to submit your
vote.

WHY IS THIS MEETING BEING ADJOURNED AGAIN?
The proposals to approve an Agreement and Plan of Reorganization to reorganize
Invesco companies as Delaware statutory trusts require a larger vote of
outstanding shares than the other items in the proxy statements. To date, over
87% of those responding have voted in favor of the proposal. However, we have
simply not received enough votes to meet the necessary voting requirements to
approve the proposals.

Should you have any questions regarding this proposal or should you desire to
have your vote taken quickly over the phone, please call Georgeson Shareholder
Communications Inc., a professional proxy solicitation firm, toll-free at
1-866-738-8111.

- -------------------------------------------------------------------------------
     For your convenience, please utilize one of the easy methods below to
     register your vote:

     1.  BY PHONE.
     Please call Georgeson Shareholder Communications Inc. toll-free at
     1-866-738-8111. Representatives are available to take your vote Monday
     through Friday between the hours of 9:00 a.m. and 11:00 p.m. and Saturday
     from 12:00 p.m. to 6:00 p.m. Eastern Time.

     2.  BY INTERNET.
     Visit www.proxyvote.com and enter the control number located on your proxy
     card.

     3.  BY TOUCH-TONE PHONE.
     Dial the toll-free number found on your proxy card and follow the simple
     instructions.

     4.  BY MAIL.
     Simply return your executed proxy in the enclosed postage paid envelope.
     Please try to utilize one of the above options to register your vote so it
     may be received in time for the meeting.

- -------------------------------------------------------------------------------


                      PLEASE TAKE A MOMENT AND VOTE TODAY.

                                                                            OBO

[INVESCO LOGO APPEARS HERE]
- --Registered Trademark--


                4350 South Monaco Street, Denver, Colorado 80237


November 6, 2003

Dear Shareholder:

We are writing to inform you that the October 21, 2003 Special Meeting of
Shareholders which was originally adjourned until October 28, 2003, has been
adjourned for a third time due to a lack of investor response. We have made
several attempts to reach shareholders by mail and/or phone in the last few
weeks, however, our records still indicate that we have not received voting
instructions for your account(s). In an effort to avoid incurring any further
expenses, we are asking you to please take a moment right now to submit your
vote.

WHY IS THIS MEETING BEING ADJOURNED AGAIN?
The proposals to approve an Agreement and Plan of Reorganization to reorganize
Invesco companies as Delaware statutory trusts require a larger vote of
outstanding shares than the other items in the proxy statements. To date, over
87% of those responding have voted in favor of the proposal. However, we have
simply not received enough votes to meet the necessary voting requirements to
approve the proposals.

Should you have any questions regarding this proposal or should you desire to
have your vote taken quickly over the phone, please call Georgeson Shareholder
Communications Inc., a professional proxy solicitation firm, toll-free at
1-866-804-3639.

- -------------------------------------------------------------------------------

     For your convenience, please utilize one of the easy methods below to
     register your vote:

     1.  BY PHONE.
     Please call Georgeson Shareholder Communications Inc. toll-free at
     1-866-804-3639. Representatives are available to take your vote Monday
     through Friday between the hours of 9:00 a.m. and 11:00 p.m. and Saturday
     from 12:00 p.m. to 6:00 p.m. Eastern Time.

     2.  BY INTERNET.
     Visit www.proxyvote.com and enter the control number located on your proxy
     card.

     3.  BY TOUCH-TONE PHONE.
     Dial the toll-free number found on your proxy card and follow the simple
     instructions.

     4. BY MAIL.
     Simply return your executed proxy in the enclosed postage paid envelope.
     Please try to utilize one of the above options to register your vote so it
     may be received in time for the meeting.

- -------------------------------------------------------------------------------


                      PLEASE TAKE A MOMENT AND VOTE TODAY.

                                                                           NOBO

[INVESCO LOGO APPEARS HERE]
- --Registered Trademark--


                4350 South Monaco Street, Denver, Colorado 80237


November 6, 2003

Dear Shareholder:

We are writing to inform you that the October 21, 2003 Special Meeting of
Shareholders which was originally adjourned until October 28, 2003, has been
adjourned for a third time due to a lack of investor response. We have made
several attempts to reach shareholders by mail and/or phone in the last few
weeks, however, our records still indicate that we have not received voting
instructions for your account(s). In an effort to avoid incurring any further
expenses, we are asking you to please take a moment right now to submit your
vote.

WHY IS THIS MEETING BEING ADJOURNED AGAIN?
The proposals to approve an Agreement and Plan of Reorganization to reorganize
Invesco companies as Delaware statutory trusts require a larger vote of
outstanding shares than the other items in the proxy statements. To date, over
87% of those responding have voted in favor of the proposal. However, we have
simply not received enough votes to meet the necessary voting requirements to
approve the proposals.

Should you have any questions regarding this proposal or should you desire to
have your vote taken quickly over the phone, please call Georgeson Shareholder
Communications Inc., a professional proxy solicitation firm, toll-free at
1-866-738-8111.

- -------------------------------------------------------------------------------

     For your convenience, please utilize one of the easy methods below to
     register your vote:

     1.  BY PHONE.
     Please call Georgeson Shareholder Communications Inc. toll-free at
     1-866-738-8111. Representatives are available to take your vote Monday
     through Friday between the hours of 9:00 a.m. and 11:00 p.m. and Saturday
     from 12:00 p.m. to 6:00 p.m. Eastern Time.

     2.  BY INTERNET.
     Visit www.proxyweb.com and enter the control number located on your proxy
     card.

     3.  BY TOUCH-TONE PHONE.
     Dial the toll-free number found on your proxy card and follow the simple
     instructions.

     4.  BY MAIL.
     Simply return your executed proxy in the enclosed postage paid envelope.
     Please try to utilize one of the above options to register your vote so it
     may be received in time for the meeting.

- -------------------------------------------------------------------------------


                      PLEASE TAKE A MOMENT AND VOTE TODAY.

                                                                            REG