INVESCO INTERNATIONAL FUNDS, INC.
INVESCO International Growth Fund
INVESCO European Fund
INVESCO Pacific Basin Fund
(March 1, 1998)
INVESCO Emerging Markets Fund
(March 1, 1998 as supplemented March 23, 1998))
INVESCO SPECIALTY FUNDS, INC.
INVESCO Asian Growth Fund
INVESCO European Small Company Fund
INVESCO Worldwide Capital Goods Fund
INVESCO Worldwide Communications Fund
(December 1, 1997)
Supplement to Prospectuses of the Above Funds
Date of Which Are Indicated In Parenthesis
Each of the above Funds has the ability to invest more than 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 "Risk Factors - Foreign Securities":
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.
After January 1, 1999, the introduction of the euro is expected to impact
European capital markets in ways that it is impossible to quantify at this time.
For example, investors may begin to view EMU countries as a single market, and
that may impact future investment decisions for the Fund. As the euro is
implemented, there may be changes in the relative strength and value of the U.S.
dollar and other major currencies, as well as possible adverse tax consequences.
The euro transition by EMU countries - present and future - may impact the
fiscal and monetary policies of those participating countries. There may be
increased levels of price competition among business firms within EMU countries
and between businesses in EMU and non-EMU countries. The outcome of these
uncertainties could have unpredictable effects on trade and commerce and result
in increased volatility for all financial markets.
The date of this supplement is September 1, 1998.
