American Century Investments CIO Mark Mallon to Retire; Enrique Chang Named to Top Investment Management Post.

KANSAS CITY, Mo. -- American Century Investments today announced that Executive Vice President and Chief Investment Officer (CIO) Mark Mallon will be retiring from the company in mid-February 2007, capping nearly a decade of distinguished service at the Kansas City-based investment management firm and a 33-year career. Effective Jan. 1, 2007, International Equity CIO Enrique Chang will become executive vice president and CIO with responsibilities for the entire investment management operation.

"During his tenure as CIO, Mark devoted much of his time to attracting and developing strong investment talent, as well as helping our investment teams enhance the processes we use to deliver superior investment performance across various strategies," said American Century President and Chief Executive Officer William M. Lyons. "Under Mark's leadership, our investment group embarked on a period of significant innovation that resulted in the successful development of some outstanding investment products that take advantage of the full range of our investment expertise, particularly in the quantitative, value and asset allocation areas. His service is very much appreciated and he will be missed."

Mallon, 58, joined American Century in 1997, initially serving as a portfolio manager and CIO responsible for both the value equity and quantitative equity disciplines. He was promoted to chief investment officer responsible for the entire investment group in September 2002, while continuing to serve as co-portfolio manager for the Large Cap Value strategy. Prior to joining American Century, he served in various senior leadership positions with Federated Investors. He holds a bachelor's degree in economics and business administration from Westminster College and a master's degree in finance from Cornell University. Mallon is a CFA charterholder.

Over the next few months, Mallon will work closely with Enrique Chang to ensure an orderly transfer of CIO responsibilities. As the company's top investment professional, Chang, 44, will oversee the investment teams responsible for the management of approximately $100 billion in investor assets across five disciplines: fixed income, quantitative equity, U.S. value equity, U.S. growth equity and international equity. The investment management area encompasses 205 investment and business professionals, including portfolio managers, analysts and traders.

"Enrique is a skilled investment professional who has already shown tremendous leadership in our international area," Lyons said. "Given his previous experience, we are confident that he will be a strong steward of our broader investment management capabilities, helping American Century maintain its leadership position as a top money manager committed to delivering consistent, value-added investment performance for the benefit of our clients."

Chang, who joined American Century in March 2006, brings 18 years of industry experience to his new position as CIO. Prior to joining American Century, Chang was at Munder Capital Management from 2000 to 2006, serving the last four years as president and chief investment officer. In that role, he oversaw a 200-person investment operation with approximately $35 billion in assets under management.

Previously, Chang held a series of senior investment management positions at Vantage Global Advisors, J. & W. Seligman and Co., and General Reinsurance Corporation. Chang graduated with a B.A. in mathematics from Fairleigh Dickinson University and earned an M.B.A. in finance/quantitative analysis and an M.S. in statistics and operations research from New York University.

American Century Investments is a leading investment manager with nearly fifty years of experience helping investors achieve their financial goals. Serving investment professionals, institutions, corporations and individual investors, American Century offers a broad array of products across a variety of investment disciplines. Based in Kansas City, Mo., the company manages $100 billion in assets through mutual funds, institutional separate accounts, commingled trusts and subadvisory accounts.

James E. Stowers Jr. founded the company in 1958. His son, James E. Stowers III, is chairman and William M. Lyons is president and chief executive officer. For the past seven years, American Century, which employs 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 .

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