<DOCUMENT>
<TYPE>EX-99.77E LEGAL
<SEQUENCE>3
<FILENAME>h81561ex77e.txt
<DESCRIPTION>EXHIBIT
<TEXT>
<PAGE>
                                                                    SUB-ITEM 77E

                  INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST

                                LEGAL PROCEEDINGS

SETTLED REGULATORY ENFORCEMENT ACTIONS AND INVESTIGATIONS RELATED TO MARKET
TIMING

            On October 8, 2004, Invesco Advisers, Inc. (Invesco), successor by
merger to Invesco Aim Advisors, Inc. and INVESCO Funds Group, Inc. (IFG), both
former investment advisers, along with Invesco Aim Distributors, n/k/a Invesco
Distributors, Inc. (Invesco Distributors) reached final settlements with certain
regulators, including the Securities and Exchange Commission (SEC), the New York
Attorney General and the Colorado Attorney General, to resolve civil enforcement
actions and/or investigations related to market timing and related activity in
the AIM Funds (n/k/a the Invesco Funds), including those formerly advised by
IFG. As part of the settlements, a $325 million fair fund ($110 million of which
is civil penalties) was created to compensate shareholders harmed by market
timing and related activity in funds formerly advised by IFG. Additionally,
Invesco and Invesco Distributors created a $50 million fair fund ($30 million of
which is civil penalties) to compensate shareholders harmed by market timing and
related activity in funds advised by Invesco, which was done pursuant to the
terms of the settlement. The methodology of the fair funds distributions was
determined by Invesco's independent distribution consultant (IDC Plan), in
consultation with Invesco and the independent trustees of the Invesco Funds, and
approved by the SEC on May 23, 2008.

            The IDC Plan provides for distribution to all eligible investors for
the periods spanning January 1, 2000 through July 31, 2003 (for the IFG Fair
Fund) and January 1, 2001 through September 30, 2003 (for the AIM Fair Fund),
their proportionate share of the applicable Fair Fund to compensate such
investors for injury they may have suffered as a result of market timing in the
affected funds. The IDC Plan includes a provision for any residual amounts in
the Fair Funds to be distributed in the future to the affected funds. Further
details regarding the IDC Plan and distributions thereunder are available on
Invesco's Web site, available at http://www.invesco.com/us.

PENDING REGULATORY ACTION ALLEGING MARKET TIMING

            On August 30, 2005, the West Virginia Office of the State Auditor -
Securities Commission (WVASC) issued a Summary Order to Cease and Desist and
Notice of Right to Hearing to Invesco and Invesco Distributors (Order No.
05-1318). The WVASC makes findings of fact that Invesco and Invesco Distributors
entered into certain arrangements permitting market timing of the Invesco Funds
and failed to disclose these arrangements in the prospectuses for such Funds,
and conclusions of law to the effect that Invesco and Invesco Distributors
violated the West Virginia securities laws. The WVASC orders Invesco and Invesco
Distributors to cease any further violations and seeks to impose monetary
sanctions, including restitution to affected investors, disgorgement of fees,
reimbursement of investigatory, administrative and legal costs and an
"administrative assessment," to be determined by the Commissioner. Initial
research indicates that these damages could be limited or capped by statute. By
agreement with the Commissioner of Securities, Invesco's time to respond to that
Order has been indefinitely suspended.

PRIVATE CIVIL ACTIONS ALLEGING MARKET TIMING

            Multiple civil lawsuits, including purported class action and
shareholder derivative suits, were filed against various parties (including,
depending on the lawsuit, certain Invesco Funds, IFG, Invesco, Invesco Aim
Management Group, Inc., n/k/a Invesco Management Group, Inc. and certain related
entities, certain of their current and former officers and/or certain unrelated
third parties) based on allegations of improper market timing and related
activity in the Invesco Funds. The lawsuits were transferred to the United
States District Court for the District of Maryland (the MDL Court) for
consolidated or coordinated pre-trial proceedings.

                                      1
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            Pursuant to an Order of the MDL Court, plaintiffs in these lawsuits
consolidated their claims for pre-trial purposes into three amended complaints
against various Invesco - and IFG-related parties, as described below.

      -     RICHARD LEPERA, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY
            SITUATED (LEAD PLAINTIFF: CITY OF CHICAGO DEFERRED COMPENSATION
            PLAN), V. INVESCO FUNDS GROUP, INC., ET AL, in the MDL Court (Case
            No. 04-MD-15864; No. 04-CV-00814-JFM) (originally in the United
            States District Court for the District of Colorado), filed on
            September 29, 2004.

      -     CYNTHIA ESSENMACHER, ET AL., Derivatively on Behalf of the Mutual
            Funds, Trusts and Corporations Comprising the Invesco and AIM Family
            of Mutual Funds v. AMVESCAP, PLC, ET AL., in the MDL Court (Case No.
            04-MD-15864-FPS; No. 04-819), filed on September 29, 2004.

      -     MIRIAM CALDERON, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY
            SITUATED, V. AVZ, INC., ET AL., in the MDL Court (Case No.
            1:04-MD-15864-FPS), filed on September 29, 2004.

            On January 5, 2008, the parties reached an agreement in principle to
settle both the Lepera and the Essenmacher lawsuits, subject to the MDL Court
approval.

            On December 15, 2008, the parties reached an agreement in principle
to settle the Calderon lawsuit, subject to the MDL Court approval. No payments
were required under the settlement; however, the parties agreed that certain
limited changes to benefit plans and participants' accounts would be made.

            The Court approved the settlements on October 21, 2010. There was a
brief period to appeal the Court's approval; however, no appeal was filed. The
payments to affected shareholders were made in January 2011. This concludes
these matters.

At the present time, management of Invesco and the Invesco Funds are unable to
estimate the impact, if any, that the outcome of the Pending Litigation and
Regulatory Inquiries described herein may have on Invesco, Invesco Distributors
or the Invesco Funds.

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