American Century Investments Announces Portfolio Management Additions.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 1, 2000

American Century Investments announces the following additions to its portfolio management team:

Gerard Sullivan joins the firm February 7 as vice president and portfolio manager of American Century Select. He will lead the Select team and serve as co-portfolio manager with Ken Crawford. Team analysts include Doug Day, Terry Foster, Rebecca Cheek and Tim Reynolds.

Kurt Stalzer recently joined the portfolio management team for American Century Heritage and the American Century Variable Portfolios Inc. Capital Appreciation fund. Stalzer will co-manage the funds with Portfolio Manager Linda Peterson, who has been with the company for 13 years and served on the Heritage team the last six. Team analysts include Michael Orndorff, David Rose and Pat Warren.

&uot;Jerry Sullivan and Kurt Stalzer bring to us significant experience and solid money management records,&uot; said Chief Executive Officer James Stowers III. &uot;Jerry's track record with large-cap stocks and Kurt's experience managing small- and mid-cap stocks are a perfect complement to those of their teams. We are delighted to welcome them to American Century.&uot;

Sullivan, who has more than 12 years investment experience, most recently was a mutual fund portfolio manager with Franklin Templeton and was previously with SunAmerica, where he headed the Growth and Income Fund. Earlier in his career, he served under Peter Lynch on the Fidelity Magellan Fund. He holds an MBA with a concentration in finance and accounting from the Columbia Graduate School of Business and a bachelor's degree in political science from Columbia College.

American Century Select Fund seeks long-term capital growth by investing primarily in common stocks of large-sized companies. The fund managers look for stocks of large companies that they believe will increase in value over time. Select is a core growth equity fund which seeks to outperform the S& 500 on a consistent basis.

Stalzer, who has more than 17 years investment experience, most recently was a managing director at Scudder Kemper in Chicago and was previously with Munder Capital. He holds a bachelor's degree in business administration from the University of Michigan and is a Level III Chartered Financial Analyst (CFA) candidate.

American Century Heritage Fund seeks capital appreciation over time by investing in the common stocks of small- and medium-sized companies that exhibit accelerating growth. Sixty percent of the fund's equity investments are required to be dividend-paying securities. The VP Capital Appreciation fund seeks long-term capital growth and is designed for use in variable life and variable annuity products.

In addition, American Century is adding two senior analysts to the Ultra team: Barney Wilson and Michael Mow.

Barney Wilson joined the team on January 24 as a senior investment analyst. Wilson was a vice president and global equity analyst with a technology focus at Putnam Investment Management, Boston. He has more than 10 years of investment experience. He holds an MBA from the University of California at Berkeley and a JD from the University of Virginia School of Law.

Michael Mow also will join the Ultra team on February 1 as a senior investment analyst. Mow was a vice president, senior analyst and portfolio manager and focused on the health sector with Trust Company of the West, Los Angeles.

American Century is a mutual fund, brokerage and investment services company serving nearly two million individual and institutional investors. It was recently selected as one of FORTUNE Magazine's 100 Best Companies to Work for in America. Through its broad selection of more than 70 mutual funds, the Kansas City, Missouri-based company manages more than $100 billion in assets. James E. Stowers Jr. founded the company in 1958 and serves as chairman. His son, James E. Stowers III, is chief executive officer and William M. Lyons is president and chief operating officer. For more information on company products and services, visit its Web site at www.americancentury.com.

To request a prospectus for an American Century fund, call 1-800/345-2021. The prospectus contains important information, including charges and expenses, and should be read carefully before investing or sending money.

The S& 500 Index is a capitalization-weighted index of 500 widely traded stocks. Created by Standard &Poor's Corporation, it is considered to represent the performance of the stock market in general. It is not an investment product available for purchase.