SUB-ITEM 77Q1(E)

                                 AMENDMENT NO. 2
                                       TO
                      MASTER INVESTMENT ADVISORY AGREEMENT

     This Amendment dated as of July 1, 2007, amends the Master Investment
Advisory Agreement (the "Agreement"), dated November 25, 2003, between AIM
International Mutual Funds, a Delaware statutory trust, and A I M Advisors,
Inc., a Delaware corporation.

                                   WITNESSETH:

     WHEREAS, the parties desire to amend the Agreement to permanently reduce
the advisory payable by AIM Asia Pacific Growth Fund, AIM European Growth Fund,
AIM Global Aggressive Growth Fund, AIM Global Growth Fund and AIM International
Growth Fund effective July 1, 2007;

     NOW, THEREFORE, the parties agree as follows;

     1.   Appendix A and Appendix B to the Agreement are hereby deleted in their
          entirety and replaced with the following:

                                   "APPENDIX A
                            FUNDS AND EFFECTIVE DATES



NAME OF FUND                         EFFECTIVE DATE OF ADVISORY AGREEMENT
------------                         ------------------------------------
                                  
AIM Asia Pacific Growth Fund                   November 25, 2003
AIM European Growth Fund                       November 25, 2003
AIM Global Aggressive Growth Fund              November 25, 2003
AIM Global Growth Fund                         November 25, 2003
AIM International Core Equity Fund             November 25, 2003
AIM International Growth Fund                  November 25, 2003




                                                                SUB-ITEM 77Q1(E)

                                   APPENDIX B
                           COMPENSATION TO THE ADVISOR

     The Trust shall pay the Advisor, out of the assets of a Fund, as full
compensation for all services rendered, an advisory fee for such Fund set forth
below. Such fee shall be calculated by applying the following annual rates to
the average daily net assets of such Fund for the calendar year computed in the
manner used for the determination of the net asset value of shares of such Fund.

                          AIM ASIA PACIFIC GROWTH FUND
                            AIM EUROPEAN GROWTH FUND
                          AIM INTERNATIONAL GROWTH FUND



NET ASSETS             ANNUAL RATE
----------             -----------
                    
First $250 million..      0.935%
Next $250 million...       0.91%
Next $500 million...      0.885%
Next $1.5 billion...       0.86%
Next $2.5 billion...      0.835%
Next $2.5 billion...       0.81%
Next $2.5 billion...      0.785%
Over $10 billion....       0.76%


                        AIM GLOBAL AGGRESSIVE GROWTH FUND
                             AIM GLOBAL GROWTH FUND



NET ASSETS             ANNUAL RATE
----------             -----------
                    
First $250 million..      0.80%
Next $250 million...      0.78%
Next $500 million...      0.76%
Next $1.5 billion...      0.74%
Next $2.5 billion...      0.72%
Next $2.5 billion...      0.70%
Next $2.5 billion...      0.68%
Over $10 billion....      0.66%


                       AIM INTERNATIONAL CORE EQUITY FUND



NET ASSETS             ANNUAL RATE
----------             -----------
                    
First $500 million..      0.75%
Next $500 million...      0.65%
From $1 billion.....      0.55%
From $2 billion.....      0.45%
From $4 billion.....      0.40%
From $6 billion.....     0.375%
From $8 billion.....      0.35%"



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                                                                SUB-ITEM 77Q1(E)

     2.   In all other respects, the Agreement is hereby confirmed and remains
          in full force and effect.

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
by their respective officers on the date first written above.

                                        AIM INTERNATIONAL MUTUAL FUNDS


Attest: \s\ Stephen R. Rimes            By: \s\ John M. Zerr
        -----------------------------       ------------------------------------
        Assistant Secretary                 John M. Zerr
                                            Senior Vice President

(SEAL)


                                        A I M ADVISORS, INC.


Attest: \s\ Stephen R. Rimes            By: \s\ John M. Zerr
        -----------------------------       ------------------------------------
        Assistant Secretary                 John M. Zerr
                                            Senior Vice President

(SEAL)


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