AMVESCAP Update on Chief Executive Officer Search

    Business Editors

    LONDON--(BUSINESS WIRE)--April 14, 2005--On February 28, 2005, AMVESCAP (NYSE:AVZ)(LSE:AVZ) (TSX:AVZ) announced the formation of a Board committee of non-executive directors consisting of Mr. Rex D. Adams, Mr. Edward P. Lawrence and Mr. Bevis Longstreth, to broaden the external search for a new chief executive officer (CEO). The AMVESCAP Nomination and Corporate Governance Committee (the "Committee") has held a number of meetings and is progressing with the search. The Committee has engaged the international executive search firm, Spencer Stuart, which has already provided it with a list of potential candidates. A shortlist of candidates is being prepared, from which the Committee expects to commence interviews as soon as practicable. A target of midyear has been set to complete the search process, subject to the satisfaction of any legacy employment contract obligations which a successful candidate may have.
    The Board has published on the company Web site separate terms of reference for both the chairman and CEO roles to take effect immediately upon the appointment of the new CEO. The company is also seeking shareholder approval at its Annual General Meeting on April 28, 2005 to amend its articles of association to reflect principle A.2 of the Combined Code on Corporate Governance related to the separation of the chairman and CEO responsibilities.
    AMVESCAP is a leading independent global investment manager, dedicated to helping people worldwide build their financial security. Operating under the AIM, AIM Trimark, INVESCO, INVESCO PERPETUAL and Atlantic Trust brands, AMVESCAP strives to deliver outstanding products and services through a comprehensive array of retail and institutional products for clients around the world. The company is listed on the London, New York and Toronto stock exchanges with the symbol "AVZ." Additional information is available at www.amvescap.com.

    This release may include statements that constitute "forward-looking statements" under the United States securities laws. Forward-looking statements include information concerning possible or assumed future results of our operations, earnings, liquidity, cash flow and capital expenditures, industry or market conditions, assets under management, acquisition activities and the effect of completed acquisitions, debt levels and the ability to obtain additional financing or make payments on our debt, regulatory developments, demand for and pricing of our products and other aspects of our business or general economic conditions. In addition, when used in this report, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects" and future or conditional verbs such as "will," "may," "could," "should," and "would" or any other statement that necessarily depends on future events, are intended to identify forward-looking statements.
    Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from our expectations. We caution investors not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, you should carefully consider the areas of risk described in our most recent Annual Report on Form 20-F, as filed with the United States Securities and Exchange Commission (SEC). You may obtain these reports from the SEC Web site at www.sec.gov.

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CONTACT: AMVESCAP Michael Perman, Group Company Secretary Phone: +44 (0) 207 065 3942 (U.K.) or Doug Kidd, Managing Director, Corporate Communications Phone: +1 404 479 2922 (U.S.)

KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE INDUSTRY KEYWORD: BANKING MANAGEMENT CHANGES SOURCE: AMVESCAP

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