Sub Item 77Q1(a)

                               AMENDMENT NO. 7 TO
                              AMENDED AND RESTATED
             AGREEMENT AND DECLARATION OF TRUST OF AIM EQUITY FUNDS


                  This Amendment No. 7 (the "Amendment") to the Amended and
Restated Agreement and Declaration of Trust of AIM Equity Funds (the "Trust")
amends, effective as of December 2, 2004, the Amended and Restated Agreement
and Declaration of Trust of the Trust dated as of May 15, 2002, as amended (the
"Agreement").

                  At a meeting held on December 2, 2004, the Board of Trustees
of the Trust, in accordance with Section 9.7 of the Agreement, approved
amendments to the Agreement. Under Section 9.7 of the Agreement, this Amendment
may be executed by a duly authorized officer of the Trust.

                  NOW, THEREFORE, the Agreement is hereby amended as follows:

     1. Section 1.4 of the Agreement is hereby amended and restated to read in
its entirety as set forth below:

                  Section 1.4. Certificate of Trust. Immediately upon the
                  execution of this Agreement, the Trustees shall file a
                  Certificate of Trust in the office of the Secretary of State
                  of the State of Delaware pursuant to the Delaware Act.

     2. Section 7.1 of the Agreement is hereby amended and restated to read in
its entirety as set forth below:

                  Section 7.1 Distributions. The Trustees may from time to time
                  declare and pay dividends and make other distributions with
                  respect to any Portfolio, or Class thereof, which may be from
                  income, capital gains or capital. The amount of such
                  dividends or distributions and the payment of them and
                  whether they are in cash or any other Trust Property shall be
                  wholly in the discretion of the Trustees, although the
                  Trustees pursuant to Section 4.1(j) may delegate the
                  authority to set record, declaration, payment and ex-dividend
                  dates, determine the amount of dividends and distributions
                  and pay such dividends and distributions. Dividends and other
                  distributions may be paid pursuant to a standing resolution
                  adopted once or more often as the Trustees determine. All
                  dividends and other distributions on Shares of a particular
                  Portfolio or Class shall be distributed pro rata to the
                  Shareholders of that Portfolio or Class, as the case may be,
                  in proportion to the number of Shares of that Portfolio or
                  Class they held on the record date established for such
                  payment, provided that such dividends and other distributions
                  on Shares of a Class shall appropriately reflect Class
                  Expenses and other expenses allocated to that Class.

                  TheTrustees may adopt and offer to Shareholders such dividend
                  reinvestment plans, cash distribution payment plans, or
                  similar plans as the Trustees deem appropriate.

     3. All references in the Agreement to "this Agreement" shall mean the
Agreement as amended by this Amendment.

     4. Except as specifically amended by this Amendment, the Agreement is
hereby confirmed and remains in full force and effect.

     IN WITNESS WHEREOF, the undersigned, a duly authorized officer of the
Trust, has executed this Amendment as of December 2, 2004.




                                           By:  /s/ Robert H. Graham
                                                ----------------------
                                           Name:   Robert H. Graham
                                           Title:  President

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