American Century Investments Launches New Mid Cap Value Portfolio.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--March 31, 2004

American Century Investments is bolstering its $10 billion lineup of value portfolios by adding a new one: American Century Mid Cap Value (ACMVX). The inception date is March 31.

"For more than 10 years, American Century has built a solid stable of value investments," said Phil Davidson, chief investment officer of the value equity discipline and Mid Cap Value portfolio manager. "Offering a mid-cap value investment strengthens the already wide array of value portfolios we manage for our investors."

American Century Mid Cap Value seeks long-term capital growth by investing in stocks that the fund advisor believes are undervalued at the time of purchase. The managers use a value investment strategy that looks for companies that are temporarily out of favor in the market.

"Mid-cap companies have outperformed their large- and small-cap counterparts on an annualized basis over the long term. Investing in the mid-cap segment of the market can be a prudent part of a diversified asset allocation strategy," said Scott Moore, co-manager of the portfolio.

The minimum investment for Mid Cap Value is $2,500. An automatic monthly investment of $50 may be established from a checking or savings account when the $2,500 initial investment has been met. The annual management fee for retail investors (Investor Class shares) is 1.00 percent.

Portfolio managers Davidson, Moore and Michael Liss, all based in Kansas City, Mo., head up the management team for Mid Cap Value. Both Davidson and Moore have been with American Century since 1993, and each co-manage the American Century Equity Income and Value portfolios. Liss, who has been with the company since 1998, previously was an analyst on Equity Income and Value.

More information on Mid Cap Value can be found by logging on to American Century's Web site at www.americancentury.com.

American Century 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 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 $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. For more information about the company, visit www.americancentury.com.

You should consider the fund's investment objectives, risks, and charges and expenses carefully before you invest. The fund's prospectus, which can be obtained by calling [phone], contains this and other information about the fund and should be read carefully before investing.