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AIM Will Merge Two Funds

AIM Advisors of Houston has decided that its AIM Developing Markets Fund, an open-end fund, will acquire the assets of AIM Eastern Europe Fund, a closed-end fund. The transaction is expected to take place in the third quarter.

"The acquisition will allow the shares of AIM Eastern Europe Fund, which have been trading at a discount, to reflect true portfolio value," said Robert Graham, the president and chief executive officer of AIM.