AMENDMENT NO. 1
                                       TO
                             DISTRIBUTION AGREEMENT
                                (CLASS P SHARES)


         This Amendment No. 1 to the Distribution Agreement between AIM Summit
Fund (the "Trust") and A I M Distributors, Inc. (the "Distributor"), dated July
24, 2000 (the "Agreement"), is effective June 30, 2005.

         WHEREAS, the Trust desires to create Class A Shares, Class B Shares and
Class C Shares (the "New Shares") and re-designate its existing shares as Class
P Shares; and

         WHEREAS, the Trust intends to enter into separate distribution
agreements with respect to the New Shares but maintain the Agreement with
respect to the existing shares;

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

         1.       All references in the Agreement to Trust "shares" shall mean
                  Class P Shares.

         2.       All references in the Agreement to the "Agreement" shall mean
                  the Agreement as hereby amended.

         3.       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 June 30, 2005.

                                    AIM SUMMIT FUND

                                    By:          /s/ Robert H. Graham
                                         ---------------------------------------

                                    Name:        Robert H. Graham
                                         ---------------------------------------

                                    Title:       President
                                          --------------------------------------


                                    A I M DISTRIBUTORS, INC.

                                    By:          /s/ Gene L. Needles
                                         ---------------------------------------

                                    Name:        Gene L. Needles
                                         ---------------------------------------

                                    Title:       President
                                          --------------------------------------