AMERICAN CENTURY MUTUAL FUNDS, INC.
Prospectus Supplement
GROWTH * ULTRA * SELECT * VISTA * HERITAGE
Supplement dated April 16, 1999 * Prospectus dated March 1, 1999
The Financial Highlights for the Heritage Fund on page 24 of the Investor Class
Prospectus, page 28 of the Advisor Class Prospectus and page 30 of the
Institutional Class Prospectus is replaced with the following:
<TABLE>
<CAPTION>
HERITAGE FUND
Investor Class
For a Share Outstanding Throughout the Years Ended October 31
PER-SHARE DATA
1998 1997 1996 1995 1994
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<S> <C> <C> <C> <C> <C>
Net Asset Value, Beginning of Year $ 14.86 $ 12.24 $ 11.75 $ 10.32 $ 11.03
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Income From Investment Operations
Net Investment Income 0.03(1) 0.01(1) --(1) 0.05(1) 0.07
Net Realized and Unrealized Gain
(Loss) on Investment Transactions (2.14) 3.41 1.15 1.96 (0.21)
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Total From Investment Operations (2.11) 3.42 1.15 2.01 (0.14)
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Distributions
From Net Investment Income (0.07) (0.09) (0.05) (0.03) (0.06)
From Net Realized Gains on
Investment Transactions (2.70) (0.71) (0.61) (0.52) (0.50)
In Excess of Net Realized Gains -- -- -- (0.03) (0.01)
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Total Distributions (2.77) (0.80) (0.66) (0.58) (0.57)
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Net Asset Value, End of Year $ 9.98 $ 14.86 $ 12.24 $ 11.75 $ 10.32
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Total Return(2) (15.87)% 29.56% 10.44% 21.04% (1.13)%
RATIOS/SUPPLEMENTAL DATA
1998 1997 1996 1995 1994
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Ratio of Operating Expenses
to Average Net Assets 1.00% 1.00% 0.99% 0.99% 1.00%
Ratio of Net Investment Income
to Average Net Assets 0.29% 0.05% -- 0.50% 0.70%
Portfolio Turnover Rate 148% 69% 122% 121% 136%
Net Assets, End of Year
(in millions) $ 978 $ 1,321 $ 1,083 $ 1,008 $ 897
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(1) Computed using average shares outstanding throughout the period.
(2) Total return assumes reinvestment of dividends and capital gains
distributions, if any.
</TABLE>
SH-SPL-16470 9904
