UNITED STATES
SECURITIES AND EXCHANGE COMMISISION
WASHINGTON, DC 20549
FORM 11-K
(X) ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
---------------- ----
COMMISSION FILE NUMBER 1-14756
A. Full title of the plan and the address of the plan, if different
from that of the issuer named below:
AMEREN CORPORATION
SAVINGS INVESTMENT PLAN
B. Name of issuer of securities held pursuant to the plan and the
address of its principal executive office:
Ameren Corporation
1901 Chouteau Avenue
St. Louis, Missouri 63103
Ameren Corporation
Savings Investment Plan
Financial Statements and Additional Information
December 31, 2003 and 2002
Ameren Corporation
Savings Investment Plan
Index
December 31, 2003 and 2002
-------------------------------------------------------------------------------------------------------------------------
Page(s)
Report of Independent Registered Public Accounting Firm...........................................................1
Financial Statements
Statements of Net Assets Available for Benefits...................................................................2
Statements of Changes in Net Assets Available for Benefits........................................................3
Notes to Financial Statements..................................................................................4-10
Additional Information*
Schedule I: Schedule of Assets (Held at End of Year).......................................................11
Schedule II: Schedule H, Line 4j - Schedule of Reportable Transactions......................................12
* Other schedules required by 29 CFR 2520.103-10 of the Department of Labor's
Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974 ("ERISA"), as amended, have been
omitted because they are not applicable.
Report of Independent Registered Public Accounting Firm
To the Participants and Administrator of the
Ameren Corporation
Savings Investment Plan
In our opinion, the accompanying statements of net assets available for benefits
and the related statements of changes in net assets available for benefits
present fairly, in all material respects, the net assets available for benefits
of the Ameren Corporation Savings Investment Plan (the "Plan") at December 31,
2003 and 2002, and the changes in net assets available for benefits for the
years then ended in conformity with accounting principles generally accepted in
the United States of America. These financial statements are the responsibility
of the Plan's management. Our responsibility is to express an opinion on these
financial statements based on our audits. We conducted our audits of these
statements in accordance with the standards of the Public Company Accounting
Oversight Board (United States), which require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets
(held at end of year) and reportable transactions are presented for the purpose
of additional analysis and are not a required part of the basic financial
statements but are supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. These supplemental schedules are the
responsibility of the Plan's management. The supplemental schedules have been
subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
The schedule of assets (held at end of year) that accompanies the Plan's
financial statements does not disclose the historical cost of certain
nonparticipant-directed Plan assets held by the Plan's trustee. Disclosure of
this information is required by the Department of Labor's Rules and Regulations
for Reporting and Disclosure under the Employee Retirement Income Security Act
of 1974.
St. Louis, Missouri
June 18, 2004
1
Ameren Corporation
Savings Investment Plan
Statements of Net Assets Available for Benefits
December 31, 2003 and 2002
------------------------------------------------------------------------------------------------------------------------
2003 2002
Assets
Investments (Note 3) $734,524,935 $626,996,779
Cash - 2,443
Receivables
Participant contributions 880,653 1,544,606
Employer contributions 313,236 626,752
Dividends and interest 216,663 477,104
------------------- -------------------
Total receivables 1,410,552 2,648,462
------------------- -------------------
Total assets 735,935,487 629,647,684
Liabilities
Accrued expenses 16,745 23,525
------------------- -------------------
Net assets available for benefits $735,918,742 $629,624,159
=================== ===================
The accompanying notes are an integral part of these financial statements.
2
Ameren Corporation
Savings Investment Plan
Statements of Changes in Net Assets Available for Benefits
Years Ended December 31, 2003 and 2002
------------------------------------------------------------------------------------------------------------------------
2003 2002
Investment income (loss)
Interest and dividends $ 20,350,203 $ 21,086,084
Net appreciation (depreciation) in fair value of investments 106,136,129 (93,753,190)
------------------ ------------------
126,486,332 (72,667,106)
------------------ ------------------
Contributions
Participant contributions 43,941,303 38,300,672
Employer contributions 13,213,138 13,857,557
------------------ ------------------
57,154,441 52,158,229
------------------ ------------------
Plan transfer in (Note 1) 512,250 600,509
------------------ ------------------
Benefits and expenses
Benefits paid to participants 77,744,983 37,311,364
Administrative expenses 113,457 129,041
------------------ ------------------
77,858,440 37,440,405
------------------ ------------------
Net increase (decrease) 106,294,583 (57,348,773)
Net assets available for benefits
Beginning of year 629,624,159 686,972,932
------------------ ------------------
End of year $ 735,918,742 $ 629,624,159
================== ==================
The accompanying notes are an integral part of these financial statements.
3
Ameren Corporation
Savings Investment Plan
Notes to Financial Statements
December 31, 2003 and 2002
--------------------------------------------------------------------------------
1. Description of the Plan
General
The following is a brief summary of the various provisions of the Ameren
Corporation ("Ameren" or the "Company") Savings Investment Plan (the
"Plan"). Participants should refer to the Plan document for more complete
information.
The Plan's purpose is to provide certain management and contract employees
(the "Participants") of the Company and its wholly owned subsidiaries the
option to defer a portion of their annual base compensation for federal
income tax purposes in accordance with Section 401(k) of the Internal
Revenue Code (the "Code"). The Plan is subject to certain provisions of
ERISA, as amended, and regulations of the Securities and Exchange
Commission.
The Company serves as sponsor of the Plan, and, consequently, has the
authority to amend or terminate the Plan subject to certain restrictions.
The Board of Directors of the Company has the authority and responsibility
for the general administration of the Plan. The Northern Trust Company, as
Trustee, has the authority and responsibility to hold and protect the
assets of the Plan in accordance with Plan provisions and the separate
Trust Agreement.
Effective October 1, 2002, the Company offered a voluntary retirement
program to approximately 1,000 of the Company's 7,400 employees. To be
eligible, employees had to be age 50 or over, regular, full-time employees
and have at least 10 years of service with Ameren. In December 2002,
approximately 550 employees accepted the voluntary retirement program. Most
of the employees who accepted left the Company by March 2003. Benefits paid
to Participants on the Statement of Changes in Net Assets Available for
Benefits for the year ended December 31, 2003 includes distributions of
Plan balances for certain of these employees.
On January 31, 2003, the Company completed its acquisition of all of the
outstanding common stock of CILCORP Inc. from The AES Corporation ("AES").
With the acquisition, CILCORP Inc. became an Ameren subsidiary. Central
Illinois Light Company is a wholly owned subsidiary of CILCORP Inc.
Effective January 1, 2004, the Plan was amended to merge the assets of the
Employees' Savings Plan of Central Illinois Light Company into the Plan.
The assets transferred from the Employees' Savings Plan of Central Illinois
Light Company consisted of 29,767 and 931,778 shares of Ameren and AES
common stock, respectively, as of the date of the transfer with a fair
market value of $1,369,268 and $8,795,987, respectively. In addition, other
investments, cash and receivables of $99,635,688, and accrued expenses of
$1,551 were transferred into the Plan.
Certain reclassifications have been made to prior year's financial
statements to conform to 2003 reporting.
Participation
The Plan covers substantially all employees of the Company, except for
employees of Central Illinois Light Company, an indirectly wholly owned
subsidiary of the Company, prior to January 1, 2004, and contract employees
covered by a collective bargaining agreement between Central Illinois
Public Service Company ("AmerenCIPS") Local 702 IBEW or AmerenCIPS Local
148
4
Ameren Corporation
Savings Investment Plan
Notes to Financial Statements
December 31, 2003 and 2002
--------------------------------------------------------------------------------
IUOE and the Company. All regular full time employees are eligible to
participate upon employment. Participation by eligible employees is
voluntary.
Contributions
Management participants may contribute from one to 50 percent of their base
compensation to the Plan through payroll deductions. Contract participants
may contribute from one to 15 percent of their base compensation to the
Plan through payroll deductions. Effective July 1, 2003, the Company
amended the Plan to permit contract participants to contribute from one to
100 percent of their base compensation to the Plan through payroll
deductions. Participant contributions are subject to annual limitations
imposed by the Code. The Company will make an Employer Basic Matching
Contribution plus an Employer Additional Matching Contribution in an amount
equal to a percent of the amount each Participant contributes to the Plan,
up to a certain maximum percentage of the Participant's compensation that
he or she elects to contribute to the Plan each year. The amount of Company
matching contribution depends on the Participant's employment
classification and for contract employees is determined by the collective
bargaining agreement with the specific union representing the Participants.
A portion of Company matching contributions is invested in the Ameren
Common Stock Fund. Each Participant's portion of additional Company
matching contributions will remain invested in the Ameren Common Stock Fund
until Participants reach age 55. At age 55, Participants are given the
opportunity to allocate their portion of Company matching contributions to
different investments if so desired. All Company contributions are made to
the extent sufficient earnings are available, as described in the Plan
document.
Participants direct their basic contributions and the Company's basic
matching contributions by electing that such contributions be placed in a
single investment fund or allocated in increments of one percent to any
combination of investment funds. Such fund allocation elections may be
changed daily. Earnings derived from the assets of any investment fund are
reinvested in the fund to which they relate. Participants may elect daily
to reallocate, by actual dollar or percentage in one percent increments,
the value of their accounts between funds. Pending investment of the assets
into any investment fund, the Trustee may temporarily make certain
short-term investments.
Participant Loans
The Plan permits Participants to borrow from their accounts within the
Plan. Such borrowings may be made subject to the following: (1) the minimum
amount of the loan is $1,000, (2) the amount of the loan may not exceed the
lesser of $50,000 or fifty percent of the vested amount in the
Participant's account, (3) the loan will bear a fixed interest rate and
repayments will be made through mutual agreement subject to certain
statutory repayment time limits, (4) each loan shall bear a reasonable
interest rate as determined under policies established for the Plan and (5)
such other rules and regulations as may be adopted by the Company. At
December 31, 2003 and 2002, the interest rates on participant loans ranged
from 4.25 percent to 11.62 percent and 5.25 percent to 10.5 percent,
respectively.
Vesting
The amounts in Participants' accounts, including Company contributions, are
fully vested at all times.
Payment of Benefits
The total amount of a Participant's account shall be distributed to the
Participant according to one of the options as described in the Plan
document and as elected by the Participant. A Participant whose account
balance is $5,000 or greater may defer distribution until December 31 of
the year they attain age 70 1/2 but no later than April 1 of the year
following the Participant's attaining age
5
Ameren Corporation
Savings Investment Plan
Notes to Financial Statements
December 31, 2003 and 2002
--------------------------------------------------------------------------------
70 1/2. If the balance of the account is less than $5,000, the distribution
shall be made in a lump sum within ninety days of his or her termination of
employment, provided he or she is not an employee on such date. All
distributions shall be in the form of cash except that Participants may
elect to have his or her interest in the Ameren Common Stock Fund, if
applicable, distributed in shares of Ameren common stock. Participants may
withdraw certain basic contributions, rollover contributions and related
earnings thereon upon reaching age 59 1/2, in the event of total disability
or financial hardship as defined by the Plan or the Code. For purposes of
distributions, the Participant's account value will be determined as of the
last business day coincident with or immediately preceding the day of
distribution. Contributions to the Plan and investment income thereon are
taxable to Participants upon distribution pursuant to the rules provided
for under the Plan and the Code.
The Plan also provides, to participants of the former Union Electric
Company Employee Stock Ownership Plan and the former Ameren Corporation
Employee Stock Ownership Plan for Certain Employees of CIPS and at the
discretion of the Company, for distribution prior to termination of
employment of (a) all or a portion of a Participant's account balance
acquired at least 84 months prior to a distribution and (b) any portion of
a Participant's account balance acquired by dividends or other income.
Plan Transfer In
Plan transfers in represent Participants' account balances which have been
transferred during the year from the Ameren Corporation Employee Long-Term
Savings Plan - IUOE No. 148 and the Ameren Corporation Employee Long-Term
Savings Plan - IBEW No. 702 into the Plan.
Plan Termination
The Company intends to continue the Plan indefinitely. However, the Company
may at any time and for any reason, subject to ERISA and Internal Revenue
Service regulations, suspend or terminate the Plan provided that such
action does not retroactively adversely affect the rights of any
Participant under the Plan.
2. Summary of Significant Accounting Policies
Basis of Accounting
The accompanying financial statements of the Plan are prepared on the
accrual basis of accounting, except that benefit payments to Participants
are recorded upon distribution.
Use of Estimates
The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported
amounts of changes in net assets available for benefits during the
reporting period. Actual results could differ from those estimates.
Investments
All investments are presented at fair value as of December 31, 2003 and
2002. The fair value of the Ameren Common Stock Fund was determined using
year-end published market prices. Investments in equity securities are
valued at published net asset market value including accrued
6
Ameren Corporation
Savings Investment Plan
Notes to Financial Statements
December 31, 2003 and 2002
--------------------------------------------------------------------------------
income on the last business day of each year. Investments in the Northern
Trust Company's Short-Term Investment Fund, the Northern Trust Company's
Collective Trust Stable Asset Fund, and the T. Rowe Price Stable Value
Common Trust Fund are valued at cost plus accrued income, which
approximates market. Participant loans are valued at cost, which
approximates fair market value.
Investment securities are exposed to various risks, such as interest rate,
market, and credit. Due to the level of risk associated with certain
investment securities and the level of uncertainty related to changes in
the value of investment securities, it is at least reasonably possible that
changes in risks in the near term could materially affect the amounts
reported in the Statement of Net Assets Available for Benefits.
Income
Interest income is recorded on the accrual basis. Dividend income is
recorded on the ex-dividend date.
Gains and losses on security transactions are recorded on the trade date.
Net unrealized appreciation or depreciation for the year is reflected in
net appreciation (depreciation) in fair value of investments on the
Statement of Changes in Net Assets Available for Benefits.
Administrative Expenses
Trustee fees incurred in administering the Plan are charged to the Plan.
7
Ameren Corporation
Savings Investment Plan
Notes to Financial Statements
December 31, 2003 and 2002
------------------------------------------------------------------------------------------------------------------------------------
3. Investments
The following table presents investments of the Plan at December 31, 2003 and 2002, respectively:
2003 2002
Investments at Fair Value as Determined
By Quoted Market Price
Common Stock
Ameren Corporation, $.01 par value(1)(2) $ 186,997,506 $ 179,034,216
Managed Equity Funds
Lord Abbett Mid-Cap Value Fund(1) 113,828,229 -
Washington Mutual Investors Fund(1) 90,778,245 73,904,236
Vanguard Asset Allocation Fund(1) 68,985,586 55,730,317
Barclays Global Investors Equity Index Fund(1) 48,503,305 35,725,072
American Funds World Fund of America 33,873,792 -
MSIF Trust Fund - 84,001,696
Vanguard US Growth Fund - 24,243,926
Vanguard Extended Market Index Fund 24,257,077 6,650,011
Managed International Equity Fund
American Funds Europacific Growth Fund 28,383,017 18,820,977
Managed Fixed Income Fund
PIMCO Total Return Fund 13,713,848 18,220,489
Investments at Estimated Fair Value
Managed Fixed Income Funds
Northern Trust Company's Collective Trust Stable Asset Fund(1) 83,122,275 -
T. Rowe Price Stable Value Common Trust Fund(1) 19,816,654 109,290,844
Northern Trust Company's Collective Short-term Investment Fund 4,537,265 3,904,650
Participant Loans 17,728,136 17,470,345
----------------- ------------------
Total investments $ 734,524,935 $ 626,996,779
================= ==================
(1) Investments that represent 5 percent or more of the Plan's net assets.
(2) Nonparticipant-directed portion is $47,387,033, and $40,209,751 at
December 31, 2003 and 2002, respectively.
8
Ameren Corporation
Savings Investment Plan
Notes to Financial Statements
December 31, 2003 and 2002
------------------------------------------------------------------------------------------------------------------------------------
During 2003 and 2002, the Plan's investments (including investments bought,
sold, and held during the year) appreciated (depreciated) in value as
follows:
2003 2002
Investments at Fair Value as Determined
By Quoted Market Price
Managed Equity Funds $80,204,814 $ (88,428,670)
Managed International Equity Fund 6,003,529 (3,262,394)
Managed Fixed Income Fund 284,375 600,215
Ameren Common Stock Fund 18,822,486 (2,662,341)
----------------- ------------------
Net change in fair value 105,315,204 (93,753,190)
Investments at Estimated Fair Value
Managed Fixed Income Fund 820,925 -
----------------- ------------------
Net change in fair value $ 106,136,129 $ (93,753,190)
================ ==================
4. Nonparticipant-Directed Investments
Information about the net assets and the significant components of the
changes in net assets relating to the nonparticipant-directed investments
at and for the years ended December 31, 2003 and 2002, is as follows:
2003 2002
Net assets
Ameren Common Stock Fund $47,387,033 $40,209,751
Employer contributions receivable 116,042 182,310
Changes in net assets
Dividends 2,471,469 2,304,531
Net appreciation in fair value of investments 4,392,749 703,956
Employer contributions 4,643,459 4,978,154
Benefits paid to Participants 2,859,756 971,143
5. Transactions with Parties-in-Interest
At December 31, 2003, the Plan held Company common stock with a cost and
market value of $139,604,045 and $186,997,506, respectively. During 2003,
the Plan purchased shares at a cost of $24,658,853 and sold shares valued
at $28,854,979.
At December 31, 2002, the Plan held Company common stock with a cost and
market value of $142,754,115 and $179,034,216, respectively. During 2002,
the Plan purchased shares at a cost of $25,044,373 and sold shares valued
at $20,945,271.
9
Ameren Corporation
Savings Investment Plan
Notes to Financial Statements
December 31, 2003 and 2002
--------------------------------------------------------------------------------
The Plan held $4,537,265 and $3,904,650 in Northern Trust Company's
Collective Short-Term Investment Fund at December 31, 2003 and 2002,
respectively, which is managed by an affiliate of the Trustee.
The Plan held $83,122,275 in Northern Trust Company's Collective Trust
Stable Asset Fund at December 31, 2003, which is managed by an affiliate of
the Trustee.
These transactions are allowable party-in-interest transactions under
Section 408(b)(8) of the ERISA regulations.
6. Reconciliation of Financial Statements to Form 5500
The following is a reconciliation of net assets available for benefits per
the financial statements to the Form 5500 at December 31, 2003 and 2002:
2003 2002
Net assets available for benefits per the
financial statements $735,918,742 $629,624,159
Amounts allocated to withdrawing Participants (502,676) (213,431)
------------------- ------------------
Net assets available for benefits per the Form 5500 $735,416,066 $629,410,728
=================== ==================
The following is a reconciliation of benefits paid to Participants per the
financial statements to the Form 5500 for the years ended December 31, 2003
and 2002:
2003 2002
Benefits paid to Participants per the
financial statements $ 77,744,983 $ 37,311,364
Add: Amounts allocated to withdrawing
Participants during the current year 502,676 213,431
Less: Amounts allocated to withdrawing
Participants during the prior year (213,431) (428,138)
------------------- ------------------
Benefits paid to Participants per the Form 5500 $ 78,034,228 $ 37,096,657
=================== ==================
Amounts allocated to withdrawing Participants are recorded on the Form 5500
for benefit claims that have been processed and approved for payment prior
to December 31, but not yet paid as of that date.
7. Federal Income Tax Status
The Company obtained its latest determination letter July 31, 2001, in
which the Internal Revenue Service stated that the Plan was in compliance
with the applicable requirements of the Code. The Plan has been amended
since receiving the determination letter. However, the Company believes
that the Plan currently is designed and being operated in compliance with
the applicable requirements of the Code and, therefore, the Plan continues
to qualify under Section 401(a) and the related trust continues to be
tax-exempt as of December 31, 2003. Therefore, no provision for income
taxes has been included in the Plan's financial statements.
10
Ameren Corporation
Savings Investment Plan
Schedule of Assets (Held at End of Year)
December 31, 2003 Schedule I
------------------------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (e)
Desciption of investment including maturity
Identity of issue, borrower, lessor, or similar date, rate of interest, collateral, par, or maturity Current
party value value
* Ameren Corporation Ameren Common Stock Fund $186,997,506
Lord Abbett Lord Abbett Mid-Cap Value Fund 113,828,229
Washington Mutual Investments Washington Mutual Investors Fund 90,778,245
* Northern Trust Company Collective Trust Stable Asset Fund 83,122,275
Vanguard Group Vanguard Asset Allocation Fund 68,985,586
Barclays Global Investment Funds, Inc. Barclays Global Investors Equity Index Fund 48,503,305
The American Funds World Fund of America 33,873,792
The American Funds Europacific Growth Fund 28,383,017
Vanguard Group Vanguard Extended Market Index Fund 24,257,077
* T. Rowe Price Stable Asset Management, Inc. T. Rowe Price Stable Value Common Trust Fund 19,816,654
* ** Participants Participant Loans 17,728,136
Pacific Investment Management Company PIMCO Total Return Fund 13,713,848
* Northern Trust Company Collective Short-term Investment Fund 4,537,265
------------
$734,524,935
============
* Investment represents allowable transaction with a party-in-interest.
** Interest rates vary from 4.25 percent to 11.62 percent on loans maturing through 2016.
Note: Information pertaining to column (d) was not available for nonparticipant-directed investments,
and was omitted for participant-directed investments because it was not applicable.
11
Ameren Corporation
Savings Investment Plan
Schedule H, Line 4j - Schedule of Reportable Transactions*
December 31, 2003 Schedule II
------------------------------------------------------------------------------------------------------------------------------------
(b)
Decription of (f) (h)
(a) asset (include interest (c) (d) (e) Expense (g) Current value of (i)
Identity of rate and maturity in Purchase Selling Lease incurred with Cost of asset on Net gain
party involved case of a loan) price price rental transaction asset transaction date or (loss)
Services of
Transactions
------------------
Ameren Corporation Ameren Common Stock Fund $ 24,658,853 $ - $ - $ - $ 24,658,853 $ 24,658,853 $ -
- 28,854,979 - - 22,768,411 28,854,979 6,086,568
Northern Trust Colletive Short-term 114,256,436 - - - 114,256,436 114,256,436 -
Investment Fund - 113,623,816 - - 113,623,816 113,623,816 -
American Funds Europacific Growth Fund 32,139,390 - - - 32,139,390 32,139,390 -
- 2,815,495 - - 2,617,422 2,815,495 198,073
Lord Abbett Lord Abbett Mid-Cap 104,887,107 - - - 104,887,107 104,887,107 -
Value Fund - 7,230,529 - - 5,693,171 7,230,529 1,537,358
Morgan Stanley MSIF Trust Fund 5,860,426 - - - 5,860,426 5,860,426 -
- 103,248,383 - - 131,815,129 103,248,383 (28,566,747)
T. Rowe Price T. Rowe Price Stable 102,377,958 - - - 102,377,958 102,377,958 -
Value Common Trust Fund - 191,852,148 - - 191,852,148 191,852,148 -
Vanguard Vanguard U.S. Growth Fund 4,484,398 - - - 4,484,398 4,484,398 -
- 31,113,888 - - 62,552,248 31,113,888 (31,438,361)
Individual
Transactions
------------------
T. Rowe Price T. Rowe Price Stable - 78,198,322 - - 78,198,322 - -
Value Common Trust Fund
T. Rowe Price T. Rowe Price Stable 78,198,322 - - - 78,198,322 - -
Value Common Trust Fund
Lord Abbett Lord Abbett Mid-Cap 95,751,282 - - - 95,751,282 - -
Value Fund
Morgan Stanley MSIF Trust Fund - 96,479,464 - - 121,503,144 - (25,023,679)
*Note: Transactions or a series of transactions in excess of 5 percent of the current value of the Plan's assets as of the
beginning of the plan year as defined in Section 29 CFR 2520.103-6 of the Department of Labor Rules and Regulations for Reporting
and Disclosure under ERISA.
12
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act
of 1934, the trustees (or other persons who administer the employee benefit
plan) have duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMEREN CORPORATION
SAVINGS INVESTMENT PLAN
AMEREN SERVICES COMPANY
(Administrator)
By /s/ Donna K. Martin
--------------------------------------
Donna K. Martin
Vice President
June 28, 2004
EXHIBIT INDEX
Exhibit No. Description
----------- -----------------------------------------
23 Consent of Independent Auditors