From: Mike Wolters
Sent: September 17, 2007
Subject: File No. 3-11701

Dear Sir or Ms.:

My name is Mike Wolters and I am a registered investment advisor. During the years 2000-2003 I had all of my clients housed at Invesco.

I was aware of the market timing issues Invesco had with regulatory agencies. I knew about the settlement that required Invesco to pay money into the 'fair fund.' At one time I recall seeing something in writing in 2004 or 2005 that the matter would be resolved and payout be made in about 9 to 12 months. It was my understanding that no action would be required of my clients to receive any distribution that would result from any potential payout. I never did receive any correspondence by mail concerning the proceedings to resolve how the money placed in escrow by Invesco would be paid out. Today on the internet I did see the "Notice of Proposed Distribution Plan and Opportunity for Comment" that was issued by the SEC. However, I never did receive a copy of that notice by mail and that was the first information I was aware of that progress toward resolution of the matter, and possible payout, may be getting closer.

Without question I did not market-time with Invesco during the years 2000-2003, nor did I have any agreement with them by which they would allow me to do that. Quite to the contrary, Invesco clearly and emphatically indicated to me that I would be limited by the restriction set forth in the prospectus. That is, I could not move into any of their funds more than four times for any of my clients during a calendar year. It was my understanding with Invesco that I would no longer be able to continue working through Invesco if I abused the rule. Clearly, I was not even a "tolerated timer" and the only agreement I had with them was a verbal one that I should follow the trading limitations set forth in their prospectuses. Was such purported agreement supposedly verbal or in writing? Such an agreement was never even discussed. Again, the only discussion involved their telling me to follow the trading limitations set forth in the prospectus.

Needless to say, I was shocked to see myself listed on page 31 of the "Proposed Distribution Plan" under "Listing of Special Situation Agreements." I can prove that I did not time the market when I was with Invesco during the years 2000-2003. Please, in fairness, allow me to do this as my clients also are victims of Invesco's violation of the trust placed in them. I as an investment advisor feel particularly violated by Invesco in this matter since they apparently singled me out and told me specifically to abide by the trading restriction while they were arranging with other advisors, to the detriment of myself and my clients, to disregard the restriction.

In a newsletter dated January 26, 2004, after the scandal had come to light, I advised my clients, "The favored investors involved in the above described late trading and other questionable trading activities were hedge funds or other investors with large positions with Invesco. It is alleged that in return for receiving extra fees from these favored investors, Invesco allowed and facilitated late trading and timing activities in their funds. Such trading practices would negatively affect the performance of the funds and would, therefore, act to the detriment of ordinary investors, such as ourselves, who are not allowed to engage in those activities." In that same newsletter I informed by clients that I had just received documentation to show that Amvescap had agreed to provide restitution to any shareholder harmed by the illegal trading.

Unfortunately, if the Final Distribution Plan lists me as having a 'Special Situation Agreement' with Invesco, I would be made a liar in the eyes of my clients and my continuing business as an investment advisor may be irreparably harmed. Further, my clients would not only feel victimized by Invesco but also by me.

Again, I did not time the market with Invesco during the years 2000-2003, I abided by the restrictions of the prospectus, did not have an agreement with Invesco to permit me to market time and quite to the contrary was specifically restricted by them to not go above the restriction set forth in the prospectus. Thus, I was not even a 'tolerate timer.'

Please let me know if I can provide the pertinent documentation to prove I did not market-time while working with Invesco during the years 2000-2003.

Very Kindly, Mike Wolters