American Century to Add Advisor-Sold Learning Quest; Learning Quest Advisor Will Be Available Through Financial Intermediaries.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 14, 2002

American Century Investments today announced it is enhancing the Learning Quest Education Savings Program with the addition of an advisor-sold version. Learning Quest Advisor, which will be sold through third-party investment professionals, will be available in the second quarter of 2002.

Learning Quest, the 529 college savings program established by Kansas but available nationally, is administered by Kansas State Treasurer Tim Shallenburger and managed by American Century Investment Management, Inc. Learning Quest, which launched in July 2000, offers a tax-advantaged way to invest for a college education.

"Learning Quest Advisor offers the choice to invest with the advice and counsel of a financial advisor. The tax, estate and legal issues can be complex, so it makes sense for certain Learning Quest investors to want to work with financial advisors," Shallenburger said. "Learning Quest Advisor also provides pricing flexibility to best meet the needs for clients who work with advisors."

Learning Quest Advisor will retain the same investment structure as direct-sold Learning Quest -- professional management by American Century Investment Management, Inc. with 22 strategic portfolios to choose from based on the time until the money is needed and three diversified investment tracks based on risk tolerance. But Learning Quest Advisor will have a different pricing and fee structure. In exchange for advice and counsel from financial advisors, investors using Learning Quest Advisor will pay either a front-, level- or back-end commission, or sales charge.

"Adding Learning Quest Advisor to American Century's lineup allows us to build on Learning Quest's success by giving it a new pricing structure to meet advisors' needs and gives investors the opportunity to work with those advisors," said David Larrabee, American Century senior vice president of Third Party Territory Sales.

Benefits of Learning Quest:

-- Any U.S. citizen or resident can open an account or be a beneficiary

-- Students can attend any accredited U.S. post-secondary school including
public universities, private universities, community colleges and vocational or
technical schools

-- Any account earnings grow tax-deferred

-- No federal income taxes on the earnings portion of qualified withdrawals(a)

-- High contribution limit: Currently $235,000 per beneficiary

-- No minimum or maximum income limits to open and contribute to an account

-- Kansas residents can receive up to $2,000 Kansas state adjusted gross income
deduction ($4,000 for couples) per beneficiary, per year

-- Account can be transferred to an eligible family member of the prior
beneficiary

-- Contributions now can be made to both Learning Quest and a Coverdell
Education Savings Account (formally known as Education IRA) in the same year
for the same beneficiary(a)

-- Individual contributions of up to $55,000 per beneficiary in a year may be
free from federal gift tax if no additional gifts are made to the same
beneficiary during the following four years

-- The account balance is removed from account owner's estate but the account
owner maintains control over the account

-- Professional investment management by American Century Investment
Management, Inc.

Learning Quest offers three investment tracks: conservative, moderate and aggressive. The account owner chooses a track based on risk tolerance and a portfolio based on the time until the money is needed. The series of 22 asset allocation portfolios automatically adjust to a more conservative mix of investments as the time the money is needed draws closer. Combinations of American Century mutual funds serve as the underlying investment vehicles for Learning Quest.

Financial advisors seeking information about Learning Quest Advisor should call 1-800-345-6488 ext. 5034.

General information about Learning Quest is available by calling 1-800-579-2203 or by visiting www.learningquestsavings.com, where retail accounts can be opened online.

American Century is a premier investment manager serving nearly two million individual and institutional investors. Through its broad selection of 75 mutual funds and other investments, the Kansas City, Mo.-based company manages about $87 billion in assets. 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 three years American Century has been selected as one of FORTUNE Magazine's 100 Best Companies to Work for in America. For additional information visit www.americancentury.com.

(a) Changes resulting from the 2001 Tax Act are effective through Dec.

31, 2010, and may be extended past that date with further

legislative action.

Learning Quest is administered by Kansas State Treasurer Tim Shallenburger and managed by American Century Investment Management, Inc. Notice: Accounts established under Learning Quest and their earnings are neither insured nor guaranteed by the State of Kansas, the Kansas State Treasurer or American Century. Learning Quest is distributed by American Century Brokerage, Inc. Member NASD, SIPC.