American Century Adds Learning Quest Advisor; Load Version of 529 Plan Now Available.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--April 1, 2002

Starting today, American Century Investments will begin offering its Learning Quest Education Savings Program through financial advisors and other third-party intermediaries.

Learning Quest, the 529 college savings program established in July 2000 by Kansas but available nationally, is administered by Kansas State Treasurer Tim Shallenburger and managed by American Century Investment Management, Inc.

The new Learning Quest Advisor offers the choice to invest with the advice and counsel of a financial advisor on tax, estate and legal issues. It also provides pricing flexibility for clients who work with advisors.

Learning Quest Advisor retains the same investment structure as the original Learning Quest program -- professional management by American Century Investment Management, Inc. with 22 strategic portfolios to choose from based on the time until the money is needed and three diversified investment tracks based on risk tolerance. But Learning Quest Advisor has a different pricing and fee structure. In exchange for advice and counsel from financial advisors, investors using Learning Quest Advisor will pay either a front-, level- or back-end commission, or sales charge.

Learning Quest Advisor was created in response to demand from financial intermediaries. "Although college savings plans have become increasingly popular, they're rather complex and many people still don't really understand the intricacies and tax consequences," said Joe Gravino, certified financial planner with US Bancorp Piper Jaffray, Inc. "Learning Quest Advisor will give me another tool to offer my clients in their financial planning process."

The advisor version of Learning Quest will feature three revenue options -- A, B, and C units. The variety of load units offers advisors flexibility when selling Learning Quest Advisor:

-- Any U.S. citizen or resident can open an account or be a beneficiary

-- Students can attend any accredited U. S. post-secondary school including
public universities, private universities, community colleges and vocational or
technical schools

-- Any account earnings grow tax-deferred

-- No federal income taxes on the earnings portion of qualified withdrawals(a)

-- High contribution limit: Currently $235,000 per beneficiary

-- No minimum or maximum income limits to open and contribute to an account

-- Kansas residents can receive up to $2,000 Kansas state adjusted gross income
deduction ($4,000 for couples) per beneficiary, per year

-- Account can be transferred to an eligible family member of the prior
beneficiary

-- Contributions now can be made to both Learning Quest and a Coverdell
Education Savings Account (formally known as Education IRA) in the same year
for the same beneficiary(a)

-- Individual contributions of up to $55,000 per beneficiary in a year may be
free from federal gift tax if no additional gifts are made to the same
beneficiary during the following four years

-- The account balance is removed from account owner's estate but the account
owner maintains control over the account

-- Professional investment management by American Century Investment
Management, Inc.

Benefits of Learning Quest:

-- Any U.S. citizen or resident can open an account or be a beneficiary

-- Students can attend any accredited U. S. post-secondary school including
public universities, private universities, community colleges and vocational or
technical schools

-- Any account earnings grow tax-deferred

-- No federal income taxes on the earnings portion of qualified withdrawals(a)

-- High contribution limit: Currently $235,000 per beneficiary

-- No minimum or maximum income limits to open and contribute to an account

-- Kansas residents can receive up to $2,000 Kansas state adjusted gross income
deduction ($4,000 for couples) per beneficiary, per year

-- Account can be transferred to an eligible family member of the prior
beneficiary

-- Contributions now can be made to both Learning Quest and a Coverdell
Education Savings Account (formally known as Education IRA) in the same year
for the same beneficiary(a)

-- Individual contributions of up to $55,000 per beneficiary in a year may be
free from federal gift tax if no additional gifts are made to the same
beneficiary during the following four years

-- The account balance is removed from account owner's estate but the account
owner maintains control over the account

-- Professional investment management by American Century Investment
Management, Inc.

Learning Quest offers three investment tracks: conservative, moderate and aggressive. The account owner chooses a track based on risk tolerance and a portfolio based on the time until the money is needed. The series of 22 asset allocation portfolios automatically adjust to a more conservative mix of investments as the time the money is needed draws closer. Combinations of American Century mutual funds serve as the underlying investment vehicles for Learning Quest.

Financial advisors seeking information about Learning Quest Advisor should call 1-877-882-6236 or visit www.americancentury.com/ipro.

General information about Learning Quest is available by calling 1-800-579-2203 or by visiting www.learningquestsavings.com, where retail accounts can be opened online.

American Century is a premier investment manager serving nearly two million individual and institutional investors. Through its broad selection of 75 mutual funds and other investments, the Kansas City, Mo.-based company manages about $87 billion in assets. James E. Stowers, Jr. founded the company in 1958 and serves as chairman. His son, James E. Stowers III, is co-chairman and William M. Lyons is president and chief executive officer. For the past three years American Century has been selected as one of FORTUNE Magazine's 100 Best Companies to Work for in America. For additional information visit www.americancentury.com.

(a) Changes resulting from the 2001 Tax Act are effective through Dec.

31, 2010, and may or may not be extended past that date with

further legislative action.

Learning Quest is administered by Kansas State Treasurer Tim Shallenburger and managed by American Century Investment Management, Inc. Notice: Accounts established under Learning Quest and their earnings are neither insured nor guaranteed by the State of Kansas, the Kansas State Treasurer or American Century. Learning Quest is distributed by American Century Brokerage, Inc. Member NASD, SIPC.