American Century Investments Launches Load Funds.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 3, 2003

Recognizing the growing trend of investment purchases through financial intermediaries, American Century Investments announced that it today began offering A, B and C Class shares for 10 of its existing mutual funds. The 10 American Century Advisor Funds are International Growth, New Opportunities II, Select, Large Company Value, Value, California High-Yield Municipal, High-Yield Municipal, High-Yield, Diversified Bond and Prime Money Market.

With the exception of Prime Money Market, these funds are now sold only through financial intermediaries. However, individuals with assets invested in the Advisor Funds prior to Jan. 31, 2003, may continue to purchase these funds directly. The remaining 51 funds in American Century's lineup will continue to be available on a no-load basis to customers who buy them directly.

The Advisor Funds underscore American Century's commitment to investment professionals, according to David Larrabee, senior vice president of Third Party Sales. "We want to offer our expertise as a premier investment manager to investors however they choose to do business with us, whether directly or through a financial intermediary," Larrabee said. "Advisor Funds are a natural extension of our business. Although American Century is known for its no-load funds, people may not realize that our flagship funds, Growth and Select, originally were sold on a commission basis when they first launched nearly 45 years ago."

According to Larrabee, the marketplace already has begun demonstrating interest in these funds. To date, roughly 110 firms have signed agreements to sell the Advisor Funds.

Sales charges and other fees for the A, B and C class shares of American Century Advisor Funds follow industry standards:

-- A Class shares have an initial (front-end) sales charge, which is paid by the investor at the time of purchase.

-- B Class shares may have a sales charge, depending upon when investors sell shares; the investor does not pay an initial sales charge. The sales charge at redemption is a contingent deferred sales charge (CDSC).

-- C Class shares may have a sales charge, depending upon when investors sell shares; the investor does not pay an initial sales charge. American Century already offers C Class shares on 23 funds. However, the deferred sales charge period will be shortened to 12 months from 18 months and the fee will be based on a flat percentage for the entire one-year period. The deferred sales charge will be 1.00 percent for equity funds and 0.75 percent for fixed income funds.

A recent survey of 500 mutual fund investors by American Century indicated that a sizable portion (43 percent) believed that professional financial advisors are worth the cost and that nearly two-thirds (63 percent) understood that fund loads are used to compensate financial professionals for their investment help and advice.

The investor class of the Advisor Funds are now closed to new direct investors and new retail investors in no-transaction-fee programs and self-directed IRA and brokerage accounts. The funds are available only to individuals who invest through a plan or an intermediary, including 401(k) and other defined contribution plans, wrap products, trust departments and other investment professionals.

American Century's Third Party Sales group has overseen the distribution of American Century mutual funds and other investment products through financial advisors, broker/dealers, insurance companies, banks, trust companies and fund supermarkets for more than 20 years. Third Party Marketing accounts for approximately $25.6 billion in assets under management.

American Century is a leading investment manager with more than 40 years of experience helping investors achieve their financial goals. Serving investment professionals, institutions, corporations and nearly two 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 $72 billion in assets through mutual funds, managed accounts, commingled trusts and subadvisory accounts. 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 four years, American Century, which employs approximately 2,700 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.

To request a prospectus for an American Century fund, call 1 [phone]. The prospectus contains important information, including charges and expenses, and should be read carefully before investing or sending money.