AMVESCAP

AMVESCAP

February 28, 2005 12:32 ET

AMVESCAP Update on Chief Executive Officer Search


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AMVESCAP

LSE, TSX, NYSE SYMBOL: AVZ

FEBRUARY 28, 2005 - 12:32 ET

AMVESCAP Update on Chief Executive Officer Search

LONDON--(CCNMatthews - Feb 28, 2005) -

AMVESCAP PLC (NYSE:AVZ) (LSE:AVZ) (TSX:AVZ) has previously stated its
intention to separate the roles of chairman and chief executive officer
(CEO) with the appointment of a new CEO. The AMVESCAP Board of Directors
has been conducting a rigorous selection process to evaluate both
internal and external candidates for the CEO role utilizing the services
of a consultant. Notwithstanding the exceptional quality of the internal
candidates, the Board has determined it is in the best interest of the
Company to expand leadership talent by appointing an external candidate
as CEO.

The Board has formed a committee of non-executive directors to broaden
the external search for a new CEO. Mr. Rex D. Adams is leading the
process and is joined by Mr. Edward P. Lawrence and Mr. Bevis
Longstreth. The committee will be assisted by an international executive
search firm.

The Company will be 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.

The Board will be publishing separate terms of reference for both the
chairman and CEO roles which will take effect upon the appointment of
the new CEO.

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's website at www.sec.gov.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    AMVESCAP PLC
    Doug Kidd, Phone: +1 404 479 2922 (U.S.)