American Century Closes Small Cap Value Fund to New Investors.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--Nov. 27, 2001

American Century Investments today said it has closed the Small Cap Value Fund to new investors, to enable the fund to maintain its emphasis on smaller value-styled companies.

The fund, which was launched on July 31, 1998, has more than $1 billion in assets. Small Cap Value seeks long-term capital growth by investing primarily in common stocks of smaller companies. Income is a secondary objective.

"With its small cap focus, the fund needed to retain a reasonable size to maintain its effectiveness in the small cap value markets," said Spence Fitzgibbons, American Century's vice president of product management. "Closing the fund stresses our commitment to provide superior investment results to our shareholders."

The growth of Small Cap Value over the past three years has come from both new investments and performance. At the end of 1999, Small Cap Value had approximately $19 million in assets. By the end of 2000, the assets rose to $108 million.

In 2000, the fund gained 39.41 percent. As of October 31, 2001, its three-year average annual total return is 18.83 percent, and since the fund's inception, it is 16.62 percent. Todd Vingers and Ben Giele co-manage the fund.

Anyone who is invested in Small Cap Value prior to the announced closing date can continue to make subsequent investments into their current Small Cap Value account after it officially closes; however, new accounts cannot be opened by current shareholders in the fund.

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 more than $90 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 two 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.

Fund performance may be subject to substantial short-term changes due to market volatility or other factors. For further information, including current fund performance information, please call us or visit our Web site. Historically, small company stocks have been more volatile than the stock of larger, more established companies.

Data presented reflect past performance, assume reinvestment of all dividends and capital gains distributions and are no guarantee of future results. Performance reflects Investor Class shares. For information about other share classes, please consult the prospectus. Investment return and principal value will fluctuate, and redemption value may be more or less than original cost. For more information on American Century funds, including charges and expenses, call an Investor Services Representative at [phone] from 7 a.m. to 7 p.m. Central Time for fund prospectuses or profiles, which should be read carefully before investing or sending money. Funds Distributor, Inc. is the distributor of American Century funds.