NOTES TO FINANCIAL STATEMENTS
APRIL 30, 1999
NOTE 1-SIGNIFICANT ACCOUNTING POLICIES
AIM Aggressive Growth Fund (the "Fund") is a series portfolio of AIM Equity Funds, Inc. (the "Company"). The
Company is a Maryland corporation registered under the Investment Company Act of 1940, as amended (the
"1940 Act"), as an open-end series management investment company consisting of nine separate portfolios. The
Fund currently offers three different classes of shares: Class A shares, Class B shares, and Class C shares. Class
B shares and Class C shares commenced sales on March 1, 1999. Class A shares are sold with a front-end sales
charge. Class B shares and Class C shares are sold with a contingent deferred sales charge. Matters affecting
each portfolio or class will be voted on exclusively by the shareholders of such portfolio or class. The assets,
liabilities and operations of each portfolio are accounted for separately. Information presented in these financial
statements pertains only to the Fund. The Fund's investment objective is to achieve long-term growth of capital
by investing primarily in common stocks, convertible bonds, convertible preferred stocks and warrants of
companies which in the opinion of the Fund's investment advisor are expected to achieve earnings growth over
time at a rate in excess of 15% per year.
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the
date of the financial statements and the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates. The following is a summary of the significant accounting policies
followed by the Fund in the preparation of its financial statements.
A. Security Valuations--A security listed or traded on an exchange (except convertible bonds) is valued at its last
price on the exchange where the securit