INVESCO TREASURER'S SERIES TRUST
INVESCO Money Market Reserve Fund
INVESCO Treasurer's Tax-Exempt Reserve Fund
Supplement to Prospectus dated May 1, 1997
The Section of the above Funds' Prospectus entitled "Investment Objectives and
Policies" is amended to (1) delete the seventh paragraph; and (2) substitute the
following paragraph in its place:
In order to enhance the liquidity, stability, or quality of a
municipal obligation, the Tax-Exempt Fund may acquire a right to sell
an obligation to another party at a guaranteed price approximating par
value, either on demand or at specified intervals. The right to sell
may form part of the obligation or be acquired separately by the
Tax-Exempt Fund. These rights may be referred to as demand features,
standby commitments or puts, depending on their characteristics
(collectively, referred to as "Standby Commitments"), and may involve
letters of credit or other credit support arrangements supplied by
domestic or foreign banks supporting the other party's ability to
purchase the obligation from the Tax-Exempt Fund. As to seventy-five
percent of its assets, the Tax-Exempt Fund may not invest more than
five percent of its assets in securities subject to conditional puts
from, or securities directly issued by, the same institution. Rule 5b-2
of the 1940 Act provides that a guarantee of a security issued by a
guarantor is not a security issued by such guarantor provided that the
value of all securities issued or guaranteed by the guarantor, and
owned by a Fund, does not exceed 10% of the total assets of the Fund.
Investments in securities with the same guarantor which exceed 10% of a
Fund's total assets are considered for diversification purposes and are
therefore limited. The Tax-Exempt Fund will acquire these rights solely
to facilitate portfolio liquidity and does not intend to exercise such
rights for trading purposes. In considering whether an obligation meets
the Tax-Exempt Fund's quality standards, the Fund may look to the
creditworthiness of the party permitting the valuation of the
underlying obligation to continue to be determined in accordance with
the amortized cost method of valuation (see the "Computation of Net
Asset Value" section of this prospectus). These guidelines only apply
immediately after the acquisition of a security. For additional
information concerning these rights, see Statement of Additional
Information under "Investment Objectives and Policies."
The date of this Supplement is September 25, 1997.
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INVESCO TREASURER'S SERIES TRUST
INVESCO Money Market Reserve Fund
INVESCO Treasurer's Tax-Exempt Reserve Fund
Supplement to Statement of Additional Information
dated May 1, 1997
The Section of the above Funds' Statement of Additional Information entitled
"Investment Objectives and Policies" is amended to (1) delete the second
paragraph; and (2) substitute the following paragraph in its place:
In order to enhance the liquidity, stability, or quality of a
municipal obligation, the Tax-Exempt Fund may acquire a right to sell
an obligation to another party at a guaranteed price approximating par
value, either on demand or at specified intervals. The right to sell
may form part of the obligation or be acquired separately by the
Tax-Exempt Fund. These rights may be referred to as demand features,
standby commitments or puts, depending on their characteristics
(collectively, referred to as "Standby Commitments"), and may involve
letters of credit or other credit support arrangements supplied by
domestic or foreign banks supporting the other party's ability to
purchase the obligation from the Tax-Exempt Fund. As to seventy-five
percent of its assets, the Tax-Exempt Fund may not invest more than
five percent of its assets in securities subject to conditional puts
from, or securities directly issued by, the same institution. Rule 5b-2
of the 1940 Act provides that a guarantee of a security issued by a
guarantor is not a security issued by such guarantor provided that the
value of all securities issued or guaranteed by the guarantor, and
owned by a Fund, does not exceed 10% of the total assets of the Fund.
Investments in securities with the same guarantor which exceed 10% of a
Fund's total assets cannot be considered for diversification purposes
and are therefore limited. In considering whether an obligation meets
the Tax-Exempt Fund's quality standards, the Fund may look to the
creditworthiness of the party permitting the valuation of the
underlying obligation to continue to be determined in accordance with
the amortized cost method of valuation. These guidelines only apply
immediately after the acquisition of a security.
The date of this Supplement is September 25, 1997.
