A.I.M. Value Line Stocks

[OldAIMGuy]

The year end results for the PIC list weren't all that great.
Buy and Hold's account fell 22% overall VS AIM's loss of 15.8%.
Of those stocks we added to the PIC list in 2002, They fell 7.7%
on a Buy and Hold basis and just 1.5% as managed by AIM.
Currently the account is showing an overall loss of 7.3% since
starting the account.

Final Tally 
 SYMB    BUY/HOLD       AIM MANAGED       AIM % CHANGE IN  
         GAIN/LOSS      GAIN/LOSS         # OF SHARES OWNED 
 ADCT     -61%            -61%                 NONE 
 ADPT     -65%            -57%                 +89% 
 APCC    -3.2%            NIL                  - 5% 
 CCU      -28%            -10%                 +43% 
 CDN     -2.3%            +11%                 +13% 
 CGNX     -34%            -17%                 +64% 
 CLE      +40%            +34%                 -30% 
 CSC      -32%            -12%                 +92% 
 CSCO     -37%            -30%                 +47% 
 ELN      -84%            -75%                +183% 
 ERICY    -88%            -88%                 NONE 
 GPS      NIL             +12%                 +20% 
 INTC     -56%            -48%                 +61% 
 KEA      +16%            +20%                +2.4% 
 LEG     -2.8%            + 1%                -2.2% 
 MCRS     -20%            -11%                 +12% 
 MKL     +6.6%           +3.5%                 NONE 
 MOLX     -31%            -14%                 +53% 
 NAUT     -22%           -8.4%                 +56% 
 PLAB     +17%            +29%                 -16% 
 SCH      -40%            -31%                 +60% 
 SMTC     -11%           -7.8%                 NONE 
 SUNW     -78%            -77%                 +10% 
 TLAB     -55%            -49%                 +54% 
 TROW     -25%            -12%                 +45% 
 VOD      -33%            -22%                 +61% 
 VOL     + NIL            +10%                 +16% 
 VPI     + NIL           +5.4%                 +29% 
 WMS      -21%           +3.4%                 +95% 
 WTSLA   +4.0%           +3.7%                -5.0% 
 ZQK      +39%            +25%                 -15% 
  
 TOTAL   -22.0%          -21.7%

In only four instances did AIM not do as well as Buy and Hold.
In all other cases AIM out-performed B&H by either cutting
losses or magnifying gains. Please note that in most cases the
amount of shares in inventory also increased by a measurable
amount. Thus, 2002 could be considered a "planting" year with
almost no "harvests."

In a few cases there was no further cash left in the individual
AIM accounts to continue on buying. Overall the AIM/PIC list is
currently 88% invested and 22% Cash Reserve. Eleven accounts are
now 100% invested (ADCT, ADPT, CSCO, ELN, ERICY, INTC, SCH,
SUNW, TLAB, VOD, and VOL).

Of the stocks owned for the entire year of 2002, the Buy and
Hold loss averaged 22.0% and 21.7% for AIM. This is about equal
to what the NYSE and Russell 2000 fell for the year. The
difference is mainly that AIM was proactive in building up the
share inventory throughout the year in most cases. While keeping
the loss essentially equal to Buy and Hold, AIM did so with less
risk.

Best regards, Tom