INVESCO Dynamics Fund, Inc.
Supplement to Prospectus dated September 1, 1996
The Section of the above Fund's Prospectus entitled "The Fund And Its
Management" is amended to (1) delete the last paragraph, and (2) substitute the
following paragraph in its place:
IFG is an indirect wholly owned subsidiary of AMVESCO PLC. AMVESCO
PLC is a publicly-traded holding company that, through its subsidiaries,
engages in the business of investment management on an international
basis. INVESCO PLC changed its name to AMVESCO PLC on March 3, 1997, as
part of a merger between a direct subsidiary of INVESCO PLC and A I M
Management Group Inc., thus creating one of the largest independent
investment management businesses in the world. Subject to obtaining
shareholder approval at its regular Annual Shareholder Meeting, the board
of directors of AMVESCO PLC has concluded that the corporate name should
be changed to AMVESCAP PLC effective May 8, 1997. IFG and INVESCO Trust
will continue to operate under their existing names. AMVESCO has
approximately $165 billion in assets under management. IFG was established
in 1932 and, as of April 30, 1996, managed 14 mutual funds, consisting of
39 separate portfolios, with combined assets of approximately $13.0
billion on behalf of over 822,000 shareholders. INVESCO Trust (founded in
1969) served as adviser or sub-adviser to 44 investment portfolios as of
April 30, 1996, including 27 portfolios in the INVESCO group. These 44
portfolios had aggregate assets of approximately $12.3 billion as of April
30, 1996. In addition, INVESCO Trust provides investment management
services to private clients, including employee benefit plans that may be
invested in a collective trust sponsored by INVESCO Trust.
The date of this Supplement is March 31, 1997.
<PAGE>
INVESCO Dynamics Fund, Inc.
Supplement to Statement of Additional Information
dated September 1, 1996
The Section of the above Fund's Statement of Additional Information
entitled "The Fund And Its Management" is amended to (1) delete the fourth and
fifth paragraphs and (2) substitute the following new paragraphs in their place:
INVESCO is an indirect wholly owned subsidiary of AMVESCO PLC, a
publicly-traded holding company that, through its subsidiaries engages in
the business of investment management on an international basis. INVESCO
PLC changed its name to AMVESCO PLC on March 3, 1997 as part of a merger
between a direct subsidiary of INVESCO PLC and A I M Management Group
Inc., thus creating one of the largest independent investment management
businesses in the world with approximately $165 billion in assets under
management. Subject to obtaining shareholder approval at its regular
Annual Shareholder Meeting, the board of directors of AMVESCO PLC has
concluded that the corporate name should be changed to AMVESCAP PLC
effective May 8, 1997. INVESCO was established in 1932 and as of April 30,
1996, managed 14 mutual funds, consisting of 39 separate portfolios, on
behalf of over 822,000 shareholders. AMVESCO PLC's other North American
subsidiaries include the following:
--INVESCO Capital Management, Inc. of Atlanta, Georgia,
manages institutional investment portfolios, consisting
primarily of discretionary employee benefit plans for
corporations and state and local governments, and endowment
funds. INVESCO Capital Management, Inc. is the sole
shareholder of INVESCO Services, Inc., a registered broker-
dealer whose primary business is the distribution of shares
of two registered investment companies.
--INVESCO Management & Research, Inc. of Boston,
Massachusetts, primarily manages pension and endowment
accounts.
--PRIMCO Capital Management, Inc. of Louisville,
Kentucky, specializes in managing stable return investments,
principally on behalf of Section 401(k) retirement plans.
<PAGE>
--INVESCO Realty Advisors of Dallas, Texas, is
responsible for providing advisory services in the U.S. real
estate markets for AMVESCO PLC's clients worldwide. Clients
include corporate pension plans and public pension funds as
well as endowment and foundation accounts.
--A I M Advisors, Inc. of Houston, Texas provides
investment advisory and administrative services for retail
and institutional mutual funds.
-- A I M Capital Management, Inc. of Houston, Texas provides
investment advisory services to individuals, corporations, pension plans
and other private investment advisory accounts and also serves as a
sub-advisor to certain retail and institutional mutual funds, one Canadian
mutual fund and one portfolio of an open-end registered investment company
that is offered to separate accounts of variable insurance companies.
--A I M Distributors, Inc. and Fund Management Company
of Houston, Texas are registered broker-dealers that act as
the principal underwriters for retail and institutional
mutual funds.
The corporate headquarters of AMVESCO PLC are located at 11
Devonshire Square, London, EC2M 4YR, England.
This supplement is dated March 31, 1997.
