INVESCO EQUITY FUNDS, INC.
(formerly INVESCO Capital Appreciation Funds, Inc.)
INVESCO Dynamics Fund
INVESCO Growth & Income Fund
(September 1, 1998)
INVESCO DIVERSIFIED FUNDS, INC.
INVESCO Small Company Value Fund
(December 1, 1997)
INVESCO EMERGING OPPORTUNITY FUNDS, INC.
INVESCO Small Company Growth Fund
(October 1, 1997 as supplemented October 8, 1997)
INVESCO GROWTH FUND, INC.
(January 1, 1998)
INVESCO INCOME FUNDS, INC.
INVESCO Select Income Fund
INVESCO High Yield Fund
INVESCO Short-Term Bond Fund
(January 1, 1998)
INVESCO INDUSTRIAL INCOME FUND, INC.
(November 1, 1997)
INVESCO MULTIPLE ASSET FUNDS, INC.
INVESCO Balanced Fund
INVESCO Multi-Asset Allocation Fund
(December 1, 1997)
INVESCO SPECIALTY FUNDS, INC.
INVESCO Realty Fund
(December 1, 1997)
INVESCO VALUE TRUST
INVESCO Intermediate Government Bond Fund
INVESCO Value Equity Fund
INVESCO Total Return Fund
(January 1, 1998)
INVESCO VARIABLE INVESTMENT FUNDS, INC.
VIF-Dynamics Portfolio
VIF-Total Return Portfolio
VIF-Small Company Growth Portfolio
VIF-Growth Portfolio
VIF-Technology Portfolio
VIF-Health Sciences Portfolio
VIF-High Yield Portfolio
VIF-Industrial Income Portfolio
VIF-Utilities Portfolio
VIF-Realty Portfolio
(May 1, 1998 and July 6, 1998)
Supplement to Prospectuses of the Above Funds
Date of Which Are Indicated In Parenthesis
Each of the above Funds has the ability to invest up to 25% of its total assets
in the securities of non-U.S. issuers. Accordingly, the prospectuses of these
Funds are amended to include the following information under the section titled
"Investment Policies and Risks - Foreign Securities" or, with regard to the
INVESCO Value Trust Funds and the INVESCO Variable Investment Portfolios, the
section titled "Risk Factors - Foreign Securities":
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Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, The
Netherlands, Portugal and Spain are presently members of the European Economic
and Monetary Union (the "EMU"). EMU intends to establish a common European
currency for EMU countries which will be known as the "euro." Each participating
country presently plans to adopt the euro as its currency on January 1, 1999.
The old national currencies will be sub-currencies of the euro until July 1,
2002, at which time the old currencies will disappear entirely. Other European
countries may adopt the euro in the future.
The planned introduction of the euro presents some uncertainties and possible
risks, including whether the payment and operational systems of banks and other
financial institutions will be ready by January 1, 1999; whether exchange rates
for existing currencies and the euro will be adequately established; and whether
suitable clearing and settlement systems for the euro will be in operation.
These and other factors may cause market disruptions before or after January 1,
1999 and could adversely affect the value of securities held by the Fund.
The date of this supplement in September 1, 1998.
