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AIM EUROPEAN DEVELOPMENT FUND
CLASS A, CLASS B AND CLASS C SHARES
Supplement dated February 15, 2000
to the Prospectus dated March 1, 1999,
as revised September 27, 1999 and
as supplemented February 4, 2000
This supplement supersedes and replaces in its entirety the supplement dated
February 4, 2000.
The following replaces in its entirety the information appearing under the
heading "FUND MANAGEMENT -- PORTFOLIO MANAGERS" on page 4 of the prospectus:
"The advisor uses a team approach to investment management. The
individual members of the team who are primarily responsible for the
day-to-day management of the fund's portfolio, both of whom are
officers of A I M Capital Management, Inc., a wholly owned
subsidiary of the advisor, are
o Jason T. Holzer, Portfolio Manager, who has been responsible
for the fund since 1999 and has been associated with the
advisor and/or its affiliates since 1996. From 1994 to 1996, he
was an associate with JMB Realty.
o Clas G. Olsson, Senior Portfolio Manager, who has been
responsible for the fund since its inception in 1997 and has
been associated with the advisor and/or its affiliates since
1994."
At a meeting held on February 3, 2000, the Board of Directors of AIM
International Funds, Inc. (the company), on behalf of AIM European Development
Fund (the fund), voted to request shareholders to approve the following items
that will affect the fund:
- An Agreement and Plan of Reorganization which provides for the
reorganization of the company, which is currently a Maryland
corporation, as a Delaware business trust;
- A new advisory agreement between the company and A I M Advisors, Inc.
(AIM). The principal changes to the advisory agreement are (i) the
deletion of references to the provision of administrative services
and certain expense limitations that are no longer applicable, and
(ii) the clarification of provisions relating to delegations of
responsibilities and the non-exclusive nature of AIM's services. The
revised advisory agreement does not change the fees paid by the fund
(except that the agreement permits the fund to pay a fee to AIM in
connection with any new securities lending program implemented in the
future);
- Changing the fund's fundamental investment restrictions. The proposed
revisions to the fund's fundamental investment restrictions are
described in a supplement to the fund's statement of additional
information; and
- Changing the fund's investment objective so that it is
non-fundamental. If the investment objective of the fund becomes
non-fundamental, it can be changed in the future by the Board of
Directors of the company without further approval by shareholders.
The Board of Directors of the company has called a meeting of the fund's
shareholders to be held on or about May 3, 2000 to vote on these and other
proposals. Only shareholders of record as of February 18, 2000 will be entitled
to vote at the meeting. Proposals that are approved are expected to become
effective on or about May 26, 2000.
