AIM EQUITY FUNDS

                AIM Aggressive Growth Fund - Institutional Class
                    AIM Blue Chip Fund - Institutional Class
               AIM Capital Development Fund - Institutional Class
                     AIM Charter Fund - Institutional Class
                  AIM Constellation Fund - Institutional Class
              AIM Large Cap Basic Value Fund - Institutional Class
                 AIM Large Cap Growth Fund - Institutional Class
                  AIM Mid Cap Growth Fund - Institutional Class
                    AIM Weingarten Fund - Institutional Class

              Supplement dated November 23, 2004 to the Prospectus
          dated April 30, 2004, as supplemented April 30, 2004, May 14,
            2004, May 18, 2004, July 16, 2004, September 8, 2004 and
                                October 12, 2004


                                 AIM FUNDS GROUP

                     AIM Balanced Fund - Institutional Class
                  AIM Basic Balanced Fund - Institutional Class
               AIM Mid Cap Basic Value Fund - Institutional Class
                  AIM Premier Equity Fund - Institutional Class

              Supplement dated November 23, 2004 to the Prospectus
          dated April 30, 2004, as supplemented April 30, 2004, May 3,
           2004, May 14, 2004, May 18, 2004, July 16, 2004, September
                          8, 2004 and October 12, 2004


                                AIM GROWTH SERIES

              AIM Aggressive Allocation Fund - Institutional Class
                   AIM Basic Value Fund - Institutional Class
             AIM Conservative Allocation Fund - Institutional Class
                  AIM Global Equity Fund - Institutional Class
               AIM Mid Cap Core Equity Fund - Institutional Class
               AIM Moderate Allocation Fund - Institutional Class
                 AIM Small Cap Growth Fund - Institutional Class

              Supplement dated November 23, 2004 to the Prospectus
             dated April 30, 2004, as revised September 17, 2004, as
            supplemented September 17, 2004, September 23, 2004 (A),
                   September 23, 2004 (B) and October 12, 2004

                         AIM INTERNATIONAL MUTUAL FUNDS

               AIM International Growth Fund - Institutional Class

              Supplement dated November 23, 2004 to the Prospectus
           dated February 27, 2004, as supplemented February 27, 2004,
           May 18, 2004, July 16, 2004, September 8, 2004 and October
                                    12, 2004


                              AIM INVESTMENT FUNDS

                 AIM Trimark Endeavor Fund - Institutional Class
                     AIM Trimark Fund - Institutional Class
             AIM Trimark Small Companies Fund - Institutional Class

              Supplement dated November 23, 2004 to the Prospectus
               dated March 1, 2004, as revised April 30, 2004, as
             supplemented April 30, 2004, May 3, 2004, May 18, 2004,
              July 16, 2004, September 8, 2004 and October 12, 2004


                         AIM INVESTMENT SECURITIES FUNDS

                    AIM High Yield Fund - Institutional Class
            AIM Limited Maturity Treasury Fund - Institutional Class
                   AIM Money Market Fund - Institutional Class
                   AIM Real Estate Fund - Institutional Class
                 AIM Short Term Bond Fund - Institutional Class
                AIM Total Return Bond Fund - Institutional Class

             Supplement B dated November 23, 2004 to the Prospectus
          dated April 30, 2004, as supplemented April 30, 2004, May 18,
            2004, July 15, 2004, July 16, 2004, September 8, 2004 and
                                October 12, 2004


                              AIM TAX-EXEMPT FUNDS

              AIM Tax-Free Intermediate Fund - Institutional Class

              Supplement dated November 23, 2004 to the Prospectus
               dated July 30, 2004, as supplemented July 30, 2004,
                     September 8, 2004 and October 12, 2004

TOOLS USED TO COMBAT EXCESSIVE SHORT-TERM TRADING ACTIVITY

While the funds provide their shareholders with daily liquidity, their
investment programs are designed to serve long-term investors. Excessive
short-term trading activity in the funds' shares (i.e., a purchase of fund
shares followed shortly thereafter by a redemption of such shares, or vice
versa) may hurt the long-term performance of certain funds by requiring them to
maintain an excessive amount of cash or to liquidate portfolio holdings at a
disadvantageous time. A I M Advisors, Inc. and its affiliates (collectively, the
"AIM Affiliates") currently use the following tools designed to discourage
excessive short-term trading in the retail AIM funds (the "funds")

         1)       trade activity monitoring;

         2)       trading guidelines;

         3)       redemption fee on trades in certain funds; and

         4)       selective use of fair value pricing.

Each of these tools is described in more detail below. Although these tools are
designed to discourage excessive short-term trading, you should understand that
none of these tools alone nor all of them taken together eliminate the
possibility that excessive short-term trading activity in the funds will occur.
Moreover, each of these tools involves judgments that are






inherently subjective. The AIM Affiliates seek to make these judgments to the
best of their abilities in a manner that they believe is consistent with
shareholder interests.

TRADE ACTIVITY MONITORING

The AIM Affiliates monitor selected trades on a daily basis in an effort to
detect excessive short-term trading activities. If, as a result of this
monitoring, AIM Affiliates believe that a shareholder has engaged in excessive
short-term trading, they may, in their discretion, ask the shareholder to stop
such activities or refuse to process purchases or exchanges in the shareholder's
accounts other than exchanges into a money market fund. In making such
judgments, the AIM Affiliates seek to act in a manner that they believe is
consistent with the best interests of shareholders.

The ability of the AIM Affiliates to monitor trades that are placed by the
underlying shareholders of omnibus accounts maintained by brokers, retirement
plan accounts and approved fee-based program accounts is severely limited in
those instances in which the broker, retirement plan administrator or fee-based
program sponsor maintains the underlying shareholder accounts. This is one
reason why this tool cannot eliminate the possibility of excessive short-term
trading.

TRADING GUIDELINES

If you exceed four exchanges out of a fund (other than AIM Money Market Fund,
AIM Tax-Exempt Cash Fund, AIM Limited Maturity Treasury Fund and Premier U.S.
Government Money Portfolio) per calendar year, or a fund or the distributor
determines, in its sole discretion, that your short-term trading activity is
excessive (regardless of whether or not you exceed such guidelines), it may, in
its discretion, reject any additional purchase and exchange orders. Each fund
and the distributor reserves the discretion to accept exchanges in excess of
these guidelines on a case-by-case basis if it believes that granting such
exceptions would be consistent with the best interests of shareholders. An
exchange is the movement out of (redemption) one fund and into (purchase)
another fund.

The ability of the AIM Affiliates to monitor exchanges made by the underlying
shareholders of omnibus accounts maintained by brokers, retirement plan accounts
and approved fee-based program accounts is severely limited in those instances
in which the broker, retirement plan administrator or fee-based program sponsor
maintains the underlying shareholder accounts. This is one reason why this tool
cannot eliminate the possibility of excessive short-term trading.

REDEMPTION FEE

You may be charged a 2% redemption fee if you redeem, including redeeming by
exchange, Class A, Investor Class or Institutional Class (applicable only to AIM
S&P 500 Index Fund) shares of certain funds within 30 days of purchase. The AIM
Affiliates expect to charge the redemption fee on other classes of shares when
the funds' transfer agent system has the capability of processing the fee across
these other classes. See "Redeeming Shares Redemption Fee" for more information.

The ability of a fund to assess a redemption fee on the underlying shareholders
of omnibus accounts maintained by brokers, retirement plan accounts and approved
fee-based program accounts is severely limited in those instances in which the
broker, retirement plan administrator or fee-based program sponsor maintains the
underlying shareholder account and may be further limited by systems limitations
applicable to these types of accounts. Additionally, the AIM Affiliates maintain
certain retirement plan accounts on a record keeping system that is currently
incapable of processing the redemption fee. The provider of this system is
working to enhance the system to facilitate the processing of this fee. These
are two reasons why this tool cannot eliminate the possibility of excessive
short-term trading activity.

FAIR VALUE PRICING

The trading hours for most foreign securities end prior to the close of the New
York Stock Exchange, the time the fund's net asset value is calculated. The
occurrence of certain events after the close of foreign markets, but prior to
the close of the U.S. market (such as a significant change in the U.S. market)
often will result in an adjustment to the trading prices of foreign securities
when foreign markets open on the following business day. If such events occur,
the fund may value foreign securities at fair value, taking into account such
events, when it calculates its net asset value. Fair value determinations are
made in good faith in accordance with procedures adopted by the Board of
Trustees of the fund. The overall pricing methodology and pricing services can
change from time to time as approved by the Board of Trustees. See "Pricing of
Shares - Determination of Net Asset Value" for more information.

Fair value pricing results in an estimated price and may reduce the possibility
that short-term traders could take advantage of potentially "stale" prices of
portfolio holdings. However, it cannot eliminate the possibility of excessive
short-term trading.




REDEEMING SHARES

REDEMPTION FEE

You may be charged a 2% redemption fee (on total redemption proceeds) if you
redeem, including redeeming by exchange, Class A, Investor Class or
Institutional Class (applicable only to AIM S&P 500 Index Fund) shares of the
following funds (either by selling or exchanging to another AIM Fund) within 30
days of their purchase:

                                         
    AIM Asia Pacific Growth Fund            AIM Global Value Fund
    AIM Developing Markets Fund             AIM High Yield Fund
    AIM European Growth Fund                AIM International Core Equity Fund
    AIM European Small Company Fund         AIM International Emerging Growth Fund
    AIM Global Aggressive Growth Fund       AIM International Growth Fund
    AIM Global Equity Fund                  AIM S&P 500 Index Fund
    AIM Global Growth Fund                  AIM Trimark Fund



The redemption fee will be retained by to the fund from which you are redeeming
shares (including redemptions by exchange), and is intended to offset the
trading costs, market impact and other costs associated with short-term money
movements in and out of the fund. The redemption fee is imposed to the extent
that the number of fund shares you redeem exceeds the number of fund shares that
you have held for more than 30 days. In determining whether the minimum 30 days
holding period has been met, only the period during which you have held shares
of the fund from which you are redeeming is counted. For this purpose, shares
held longest will be treated as being redeemed first and shares held shortest as
being redeemed last.

The 2% redemption fee will not be charged on transactions involving the
following:

         1)       total or partial redemptions of shares by omnibus accounts
                  maintained by brokers that do not have the systematic
                  capability to process the redemption fee;

         2)       total or partial redemptions of shares by approved fee-based
                  programs that do not have the systematic capability to process
                  the redemption fee;

         3)       total or partial redemptions of shares held through retirement
                  plans maintained pursuant to Sections 401, 403, 408, 408A and
                  457 of the Internal Revenue Code (the "Code") where the
                  systematic capability to process the redemption fee does not
                  exist;

         4)       total or partial redemptions effectuated pursuant to an
                  automatic non-discretionary rebalancing program or a
                  systematic withdrawal plan set up in the funds;

         5)       total or partial redemptions requested within 30 days
                  following the death or post-purchase disability of (i) any
                  registered shareholder on an account or (ii) the settlor of a
                  living trust which is the registered shareholder of an
                  account, of shares held in the account at the time of death or
                  initial determination of post-purchase disability;

         6)       total or partial redemption of shares acquired through
                  investment of dividends and other distributions; or

         7)       redemptions initiated by a fund.

The AIM Affiliates' goals are to apply the redemption fee on all classes of
shares regardless of the type of account in which such shares are held. This
goal is not immediately achievable because of systems limitations and
marketplace resistance. Currently, the redemption fee may be applied on Class A
and Investor Class shares (and Institutional Class Shares for AIM S&P Index
Fund). AIM expects to charge the redemption fee on all other classes of shares
when the funds' transfer agent system has the capability of processing the fee
across these other classes. In addition, AIM intends to develop a plan to
encourage brokers that maintain omnibus accounts, sponsors of fee-based program
accounts and retirement plan administrators for accounts that are exempt from
the redemption fee pursuant to the terms above to modify computer programs to
impose the redemption fee or to develop alternate processes to monitor and
restrict short-term trading activity in the funds. Lastly, the provider of AIM's
retirement plan record keeping system is working to enhance the system to
facilitate the processing of the redemption fee. Until such computer programs
are modified or alternate processes are developed, the fund's ability to assess
a redemption fee on these types of share classes and accounts is severely
limited. These are reasons why the redemption fees cannot eliminate the
possibility of excessive short-term trading activity.

The funds have the discretion to waive the 2% redemption fee if a fund is in
jeopardy of failing the 90% income test or losing its RIC qualification for tax
purposes.