American Century Investments Announces New Portfolio Manager on International Small Cap Equity Team.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--June 10, 2004

American Century Investments announced the promotion of Federico Laffan to vice president and co-portfolio manager on the International Small Cap Equity team, which manages the American Century International Opportunities fund (AIOIX).

Laffan, who joined American Century in September 2001, has supported the International Small Cap Equity team as a senior investment analyst, focusing on European, small- and mid-capitalization companies.

"Federico has done great work on the International Small and Mid Cap Equity strategies," said Lynette Schroeder, co-manager of International Opportunities. "He's being recognized for the fine contributions he has made to our bottom-up stock picking process."

Previously, Laffan gained 11 years of industry experience, with portfolio management and analyst roles at Warburg Pincus/Credit Suisse Asset Management and Foreign & Colonial Emerging Markets. Laffan received his M.S. in Finance from the London Business School and his B.A. in International Studies from the University of Texas.

In addition to his role on the International Small Cap Equity team, Laffan will continue to provide ongoing analytical support to the International Small-Mid Cap Equity team, which manages the American Century International Discovery fund (TWEGX).

American Century Investments is a leading investment manager with more than 45 years of experience helping investors achieve their financial goals. Serving institutions, corporations, investment professionals and nearly 2 million individual investors, American Century offers a broad array of products across a variety of investment disciplines.

Based in Kansas City, Mo., the company manages approximately $90 billion in assets through separate accounts, commingled trusts, subadvisory accounts and mutual funds. 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 five years, American Century, which employs approximately 1,800 people, has been selected as one of FORTUNE Magazine's 100 Best Companies to Work for in America. For more information about the company, visit www.americancentury.com.

This information is for educational purposes only and is not intended to recommend any particular investment product or service. For more information on any of our funds, please call 1-800-44-AmCen for a prospectus. The prospectus contains important information, including charges and expenses, and should be read carefully before investing or sending money.

The American Century logo, American Century and American Century Investments are service marks of American Century Services Corporation.