American Century Launches Inflation Protection Bond Fund for Advisor Market.

KANSAS CITY, Mo. -- Leveraging its reputation within the advisor community as a provider of inflation protection strategies, American Century Investments today launches American Century Inflation Protection Bond Fund (APOIX). The new load fund, which is offered only through financial professionals, is available in A, B, C, R, Institutional and Investor share classes. The addition of Inflation Protection Bond Fund brings American Century's load fund offerings total to 18.

Inflation Protection Bond pursues a total return using a strategy that seeks to protect against U.S. inflation. It has a minimum initial investment requirement of $2,500.

The fund is managed by Jeremy Fletcher, who also is at the helm of American Century's other inflation-linked strategies, American Century Inflation Adjusted Bond Fund (ACITX) - launched in 1997, shortly after treasury inflation-protected securities first became available -- and American Century VP Inflation Protection (available only through insurance providers) - launched in 2002. American Century's inflation-linked funds contain more than $1.2 billion in assets under management.

Combating domestic inflation is the common goal of all three American Century inflation-linked strategies, according to Fletcher. However, the new fund differs from its predecessor, Inflation Adjusted Bond. "Inflation Protection Bond has a broader investment policy than Inflation Adjusted Bond," Fletcher said. "For example, we can invest a portion of the new fund's portfolio in foreign inflation-linked securities and high-yield securities."

Investor demand for inflation protection strategies continues to grow, according to Strategic Insight, a mutual fund research and consulting firm. The category experienced the third-highest level of net new flows industry-wide over the one-, three- and five-year periods ended Sept. 2004.

Jeremy Fletcher, vice president and portfolio manager, joined American Century in 1991 and became a portfolio manager in 1997. He is the portfolio manager for all of the company's inflation-linked strategies and has been a member of the team since its inception. He holds bachelor's degrees in economics and mathematics from Claremont McKenna College. He is a CFA charterholder.

To learn more about American Century Inflation Protection Bond Fund, contact your financial professional, or call 1-800-345-6488 or visit www.americancentury.com.

American Century Investments is a leading investment manager with more than 45 years of experience helping investors achieve their financial goals. Serving investment professionals, institutions, corporations and 1.6 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 $95 billion in assets through mutual funds, separate accounts, commingled trusts, subadvisory accounts and institutional class funds. 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 six years, American Century, which employs 1,900 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.

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 1-800-345-6488 (or by visiting the website), contains this and other information about the fund, and should be read carefully before investing.

Past performance is not a guarantee of future results. Investment return and principal value will fluctuate, and it is possible to lose money by investing. Generally as interest rates rise, bond prices fall. International investing involves special risks such as political instability and currency fluctuations. The lower rated, high yield securities in which the fund may invest are subject to greater credit risk, default risk and liquidity risk.