(EBITDA) reached GBP659.7 million ($983.0 million) for 2000, compared to GBP431.1 million ($698.4 million) for the 1999 period. Revenues amounted to GBP1,628.7 million ($2,426.8 million) compared to GBP1,072.4 million ($1,737.3 million) in 1999 (NYSE: AVZ).

* Per American Depository Share equivalent to 2 ordinary shares.

+ For the convenience of the reader, pounds sterling for the year ending December 31, 2000 have been translated to US dollars using $1.49 per GBP1.00 (1999: $1.62 per GBP1.00).

2000 stands out as a year of significant accomplishments for AMVESCAP by every measure, not withstanding the sharp declines in global market levels in the fourth quarter, said Executive Chairman Charles W. Brady. We reached record financial results and gained greater scale in key markets, aided by increases in business volumes and a strong demand for our products and services. Through organic business-building and key acquisitions, AMVESCAP increased the strength of our franchise, expanded our range of products and services for clients, and further raised the visibility of our powerful primary brands, AIM and INVESCO. We remain guided by our mission of helping people worldwide build their financial security.

Profit before tax, exceptional item and goodwill amortization for the fourth quarter of 2000 increased 58% to GBP139.5 million ($207.9 million). Diluted earnings per share before exceptional item and goodwill amortization increased 35% to 12.4p (1999: 9.2p) for the quarter. Revenues amounted to GBP428.5 million ($638.5 million) compared to GBP295.7 million ($479.0 million) in 1999.

The Company completed the acquisition of Trimark Financial Corporation on August 1, 2000. Consideration for this purchase amounted to approximately GBP1.2 billion, including transaction costs, and was satisfied by the payment of GBP332 million in cash, the issuance of 26.4 million ordinary shares or shares exchangeable for ordinary shares and GBP574 million in Equity Subordinated Debentures (ESD’s).

The 2000 results include the Trimark business from August 1, 2000.

The Company also acquired Perpetual plc, a leading UK retail fund manager in December 2000. This acquisition was recorded as of December 31, 2000 and was valued at approximately GBP1.0 billion, including transaction costs, and was completed by the issuance of 60.1 million ordinary shares, payment of GBP171.4 million in cash and the issuance of GBP128.9 million in loan notes due in 2005. Perpetual results will be included beginning January 1, 2001.

These acquisitions are being integrated with our existing businesses at a combined cost of GBP43.8 million.

[….]

Funds under management totaled $402.6 billion (GBP270.2 billion) at December 31, 2000, an increase of $45.2 billion over December 31, 1999. Net new business amounted to $35.4 billion during the year of 2000 (including $5.1 billion for the fourth quarter). The Trimark and Perpetual acquisitions added $34.1 billion of funds under management at dates of acquisition. Average funds under management amounted to $394.7 billion for the fourth quarter compared to $406.2 billion for the previous quarter and $323.6 for the fourth quarter of 1999.

The Board has recommended a final dividend of 6.0p resulting in a total dividend of 10.0p for 2000 (1999: 9.0p). This is an increase of 11% over the prior year and the eighth consecutive year that the dividend has been increased. This dividend, if approved by the shareholders at the Annual General Meeting in April, will be paid on May 3, 2001 to shareholders on the register on March 30, 2001. The ex-dividend date for the dividend will be March 28, 2001.

THE YEAR IN REVIEW

In a year of extremely volatile markets, we continued to distinguish ourselves as a leading independent asset manager with a clear focus on investment performance, distribution, a diversified product line, and world-class customer service, said Mr. Brady. The Trimark and Perpetual acquisitions have given us leading positions in the retail sectors of two of the world’s most important capital markets. We remain well positioned for the future.