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AIM SUMMIT FUND, INC.
Supplement dated December 16, 1996
to the Statement of Additional Information dated March 1, 1996
On December 11, 1996, the Board of Directors of AIM Summit Fund, Inc.
(the "Fund") approved, subject to shareholder approval, the elimination of and
changes to certain fundamental investment policies of the Fund related to
investment in other investment companies. Shareholders will be asked to
approve these changes at an annual meeting of shareholders to be held on
February 7, 1997. If approved, these changes will become effective as of
March 1, 1997.
Reference is made to Investment Restriction Nos. 9 and 10 of the Fund,
set forth on page 21 of the Fund's Statement of Additional Information. The
Board of Directors has approved the elimination of Investment Restriction No.
10 and a change to Investment Restriction No. 9. In the event shareholders
approve the proposed changes, Investment Restriction No. 10 will no longer
apply and Investment Restriction No. 9 will read in full as follows:
(9) invest in companies for the purpose of exercising control or
management, except that the Fund may purchase securities of other
investment companies to the extent permitted by applicable law or
exemptive order.
