INVESCO VALUE TRUST
                            INVESCO Total Return Fund
                  INVESCO Intermediate Government Bond Fund
                            INVESCO Value Equity Fund

               Supplement to Prospectuses dated January 1, 1997

A.    The  Section  of  each  Fund's   Prospectus   entitled   "The  Fund  and
      Its   Management"   is  amended  to  delete  the  first   paragraph   in
      its entirety.

B.    The  Section  of  each  Fund's  Prospectus  entitled  "The  Fund  and  Its
      Management"  is  amended  to (1)  delete  the  fourth  paragraph,  and (2)
      substitute the following paragraph in its place:

                  INVESCO is an indirect wholly owned subsidiary of AMVESCO PLC.
            AMVESCO PLC is a publicly-traded  holding company that,  through its
            subsidiaries, engages in the business of investment management on an
            international  basis. INVESCO PLC changed its name to AMVESCO PLC on
            March 3, 1997,  as part of a merger  between a direct  subsidiary of
            INVESCO PLC and A I M Management  Group Inc.,  thus  creating one of
            the largest  independent  investment  management  businesses  in the
            world.  Subject to  obtaining  shareholder  approval  at its regular
            Annual  Shareholder  Meeting,  the board of directors of AMVESCO PLC
            has concluded  that the corporate name should be changed to AMVESCAP
            PLC effective May 8, 1997.  INVESCO and INVESCO Capital  Management,
            Inc. will continue to operate under their  existing  names.  AMVESCO
            has approximately  $165 billion in assets under management.  IFG was
            established  in 1932 and, as of August 31,  1996,  managed 14 mutual
            funds, consisting of 39 separate portfolios, with combined assets of
            approximately $12.8 billion on behalf of over 827,000 shareholders.

The date of this Supplement is March 31, 1997.











                               INVESCO VALUE TRUST

              Supplement to Statement of Additional Information
                              dated January 1, 1997

The  Section of the INVESCO  Value Trust  Statement  of  Additional  Information
entitled "The Fund And Their Management" is amended to (1) delete the fourth and
fifth paragraphs and (2) substitute the following new paragraphs in their place:

            INVESCO is an indirect  wholly  owned  subsidiary  of AMVESCO PLC, a
      publicly-traded  holding company that, through its subsidiaries engages in
      the business of investment  management on an international  basis. INVESCO
      PLC  changed  its name to AMVESCO PLC on March 3, 1997 as part of a merger
      between a direct  subsidiary  of INVESCO  PLC and A I M  Management  Group
      Inc., thus creating one of the largest independent  investment  management
      businesses  in the world with  approximately  $165 billion in assets under
      management.  Subject to  obtaining  shareholder  approval  at its  regular
      Annual  Shareholder  Meeting,  the board of  directors  of AMVESCO PLC has
      concluded  that the  corporate  name  should be  changed to  AMVESCAP  PLC
      effective May 8, 1997.  INVESCO was  established  in 1932 and as of August
      31, 1996, managed 14 mutual funds,  consisting of 39 separate  portfolios,
      on behalf of over 827,000 shareholders. AMVESCO PLC's other North American
      subsidiaries include the following:

            --INVESCO   Capital   Management,   Inc.  of   Atlanta,   Georgia,
      manages     institutional     investment     portfolios,      consisting
      primarily    of    discretionary     employee    benefit    plans    for
      corporations   and   state   and  local   governments,   and   endowment
      funds.    INVESCO    Capital    Management,    Inc.    is    the    sole
      shareholder   of  INVESCO   Services,   Inc.,   a   registered   broker-
      dealer  whose  primary   business  is  the  distribution  of  shares  of
      two registered investment companies.

            --INVESCO    Management    &    Research,    Inc.    of    Boston,
      Massachusetts,     primarily     manages     pension    and    endowment
      accounts.

            --PRIMCO     Capital     Management,     Inc.    of    Louisville,
      Kentucky,   specializes   in   managing   stable   return   investments,
      principally on behalf of Section 401(k) retirement plans.

            --INVESCO     Realty    Advisors    of    Dallas,     Texas,    is
      responsible   for   providing   advisory   services  in  the  U.S.  real
      estate   markets   for  AMVESCO   PLC's   clients   worldwide.   Clients
      include   corporate   pension   plans  and  public   pension   funds  as
      well as endowment and foundation accounts.







            --A   I   M   Advisors,    Inc.   of   Houston,   Texas   provides
      investment   advisory  and   administrative   services  for  retail  and
      institutional mutual funds.

            --A  I  M  Capital  Management,  Inc.  of  Houston,  Texas  provides
      investment advisory services to individuals,  corporations,  pension plans
      and  other  private  investment  advisory  accounts  and also  serves as a
      sub-advisor to certain retail and institutional mutual funds, one Canadian
      mutual fund and one portfolio of an open-end registered investment company
      that is offered to separate accounts of variable insurance companies.

            --A  I  M   Distributors,   Inc.  and  Fund   Management   Company
      of   Houston,   Texas  are   registered   broker-dealers   that  act  as
      the  principal   underwriters  for  retail  and   institutional   mutual
      funds.

            The  corporate  headquarters  of  AMVESCO  PLC  are  located  at  11
      Devonshire Square, London, EC2M 4YR, England.

This supplement is dated March 31, 1997.