Press Release: INVESCO
January 23, 2001
ATLANTA, GA -- January 22, 2001--INVESCO yesterday announced that Fairmont Hotels & Resorts has selected INVESCO
Retirement, Inc. to be the provider and administrator of 401(k) retirement benefit services for its U.S. employees.
Fairmont, with more than 2400 eligible employees, owns and operates luxury properties throughout the United States
including the Plaza in New York, the Fairmont Scottsdale (Arizona) Princess and the Fairmont Copley Plaza in Boston.
The move by Fairmont consolidates the number of providers from three to one. INVESCO replaces CIGNA, Great West
and Merrill Lynch. The current plan assets are more than $23 million with more than 1400 participants. Gallagher
Benefit Services, San Francisco assisted in the search.
``At Fairmont we pride ourselves in providing the highest level of service to our guests. In selecting INVESCO,
we are now providing that same superior level of service in retirement benefits and fund investment options to
our associates nationwide,'' said Tracy Desmond, Manager, Compensation and Benefits, Fairmont Hotels & Resorts.
Plan participants will now be able to select from among 14 different mutual funds from AIM Funds and INVESCO Funds,
both units of AMVESCAP.
``We are pleased to be associated with Fairmont, a brand that is synonymous with excellence. We intend to deliver
that same level of excellence in retirement benefit services to Fairmont's employees,'' said Robert O'Connor, President
and COO of INVESCO Retirement, Inc.
Fairmont Hotels & Resorts, headquartered in Toronto, Canada, is a collection of 36 distinctive hotels which
are at the heart of the communities in which they operate. Located throughout Canada, the United States, Mexico,
Bermuda and Barbados, Fairmont Hotels & Resorts offers guests luxurious accommodation in the most sought after
destinations. The company is the result of an acquisition of Fairmont Hotels by Canadian Pacific Hotels; a union
bringing together two companies with over a century of rich history and exemplary hospitality.
Atlanta-based INVESCO Retirement, Inc. is one of the largest and most respected providers of defined contribution
products and services in the nation. It is a subsidiary of AMVESCAP PLC (NYSE: AVZ), a worldwide investment management
company with $414 billion in assets under management (as of September 30, 2000), operating under the AIM and INVESCO
brand names. AMVESCAP is listed on the London, New York and Paris Stock Exchanges. In both London and New York
Stock Exchanges, it is listed with the symbol ``AVZ''.
SOURCE: INVESCO