INVESCO SPECIALTY FUNDS, INC.
INVESCO Realty Fund
Supplement to Prospectus Dated November 15, 1999
The section of the Prospectus entitled "Fund Management" is hereby amended to
delete the second paragraph in its entirety.
The section of the Prospectus entitled "Fund Management" is hereby amended
to (1) delete the fourth paragraph in its entirety and (2) substitute the
following in its place:
INVESCO and IDI are subsidiaries of AMVESCAP PLC.
The section of the Prospectus entitled "Portfolio Managers" is hereby amended to
(1) delete the paragraph within the section and (2) substitute the following in
its place:
The following individual is primarily responsible for the day-to-day
management of the Fund's portfolio holdings:
Sean Katof, a portfolio manager of INVESCO, is the portfolio manager of
the Fund. Sean joined INVESCO in 1994. He holds an M.S. in Finance and a
B.S. in Business Administration from the University of Colorado in
Boulder.
Sean is a member of the INVESCO Equity Income Team which is led by Charlie
Mayer.
The date of this Supplement is January 27, 2000.
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INVESCO SPECIALTY FUNDS, INC.
Supplement to Statement of Additional Information Dated November 15, 1999
Effective immediately, INVESCO Realty Advisors, Inc. is no longer the
sub-advisor for INVESCO Realty Fund. INVESCO Funds Group, Inc., as investment
adviser, will take over day-to-day management of the Fund. Consequently, the
section of the Statement of Additional Information entitled "Management of the
Funds - The Sub-Advisory Agreement" is amended to delete the section in its
entirety.
The date of this Supplement is January 27, 2000.
