SEC. File Nos. 2- 26516
811-1435
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
Registration Statement
Under
the Securities Act of 1933
Post-Effective Amendment No. 59
and
Registration Statement
Under
The Investment Company Act of 1940
Amendment No. 28
AMCAP FUND, INC.
(Exact Name of Registrant as specified in charter)
333 South Hope Street
Los Angeles, California 90071
(Address of principal executive offices)
Registrant's telephone number, including area code:
(213) 486-9200
JULIE F. WILLIAMS
333 South Hope Street
Los Angeles, California 90071
(name and address of agent for service)
Copies to:
Cary I. Klafter, Esq.
MORRISON & FOERSTER
345 California Street
San Francisco, California 94104
(Counsel for the Registrant)
The Registrant has filed a declaration pursuant to rule 24f-2
registering an indefinite number of shares under the Securities Act of 1933.
On April 18, 1996, it filed its 24f-2 notice for fiscal 1996.
Approximate date of proposed public offering:
It is proposed that this filing become effective on May 1, 1996, pursuant to
paragraph (b) of rule 485.
AMCAP FUND, INC.
CROSS REFERENCE SHEET
<TABLE>
<CAPTION>
Item Number of Captions in Prospectus (Part "A")
Part "A" of Form N-1A
<S> <C> <C>
1. Cover Page Cover Page
2. Synopsis Summary of Expenses
3. Financial Highlights Financial Highlights
4. General Description of Registrant Investment Objective and Policies
5. Management of the Fund Financial Highlights; Fund
Organization and Management
6. Capital Stock and Other Securities Investment Objective and Policies;
Investment Techniques; Fund Organization and Management;
Dividends, Distributions and Taxes
7. Purchase of Securities Being Offered Purchasing Shares
8. Redemption or Repurchase Redeeming Shares
9. Legal Proceedings N/A
</TABLE>
<TABLE>
<CAPTION>
Item Number of Captions in Statement of
Part "B" of Form N-1A Additional Information (Part "B")
<S> <C> <C>
10. Cover Page Cover
11. Table of Contents Table of Contents
12. General Information and History Investment Philosophy; Description of
Certain Securities; Investment
Restrictions; General Information
13. Investment Objectives and Policies Investment Philosophy; Investment
Restrictions
14. Management of the Registrant Fund Officers and Directors; Management
15. Control Persons and Principal Fund Officers and Directors
Holders of Securities
16. Investment Advisory and Other Management
Services
17. Brokerage Allocation and Other Execution of Portfolio Transactions
Practices
18. Capital Stock and Other Securities None
19. Purchase, Redemption and Pricing of Purchase of Shares; Shareholder
Securities Being Offered Account Services and Privileges
20. Tax Status Dividends, Distributions and Federal Taxes
21. Underwriter Management -- Principal Underwriter
22. Calculation of Performance Data Investment Results
23. Financial Statements Financial Statements
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Item in Part "C"
24. Financial Statements and Exhibits
25. Persons Controlled by or under
Common Control with Registrant
26. Number of Holders of Securities
27. Indemnification
28. Business and Other Connections of
Investment Adviser
29. Principal Underwriters
30. Location of Accounts and Records
31. Management Services
32. Undertakings
Signature Page
</TABLE>
<PAGE>
Prospectus
AMCAP
FUND(R)
[LOGO OF THE AMERICAN FUNDS GROUP(R)]
May 1, 1996
AMCAP FUND, INC.
333 South Hope Street
Los Angeles, California 90071
The fund's investment objective is to provide shareholders with long-term growth
of capital. Whatever current income is generated by the fund is likely to be
incidental to the objective of capital growth. Normally, the fund will invest
primarily in common stocks.
This prospectus presents information you should know before investing in the
fund. It should be retained for future reference.
You may obtain the statement of additional information, dated May 1, 1996, which
contains the fund's financial statements, without charge, by writing to the
Secretary of the fund at the above address or telephoning 800/421-0180. These
requests will be honored within three business days of receipt.
SHARES OF THE FUND ARE NOT DEPOSITS OR OBLIGATIONS OF, OR INSURED OR GUARANTEED
BY THE U.S. GOVERNMENT, ANY FINANCIAL INSTITUTION, THE FEDERAL DEPOSIT INSURANCE
CORPORATION, OR ANY OTHER AGENCY, ENTITY OR PERSON. THE PURCHASE OF FUND SHARES
INVOLVES INVESTMENT RISKS, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECU- RITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCU-
RACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
02-010-0596
<PAGE>
TABLE OF CONTENTS
Summary of Expenses................................................. 3
Financial Highlights................................................ 4
Investment Objective and Policies................................... 4
Investment Techniques............................................... 5
Investment Results.................................................. 7
Dividends, Distributions and Taxes.................................. 7
Fund Organization and Management.................................... 8
The American Funds Shareholder Guide................................ 11-19
Purchasing Shares.................................................. 11
Reducing Your Sales Charge......................................... 14
Shareholder Services............................................... 15
Redeeming Shares................................................... 17
Retirement Plans................................................... 19
IMPORTANT PHONE NUMBERS
Shareholder Services.......800/421-0180 ext. 1
Dealer Services ...........800/421-9900 ext. 11
American FundsLine(R)......800/325-3590
(24-hour information)
<PAGE>
- -------------------------------------------------------------------------------
SUMMARY OF
EXPENSES
Average annual
expenses paid over
a 10-year period
would be
approximately $14
per year, assuming
a $1,000
investment and a
5% annual return
with a maximum
sales charge.
This table is designed to help you understand costs of investing in the fund.
These are historical expenses; your actual expenses may vary.
SHAREHOLDER TRANSACTION EXPENSES
Maximum sales charge on purchases
(as a percentage of offering price)..................... 5.75%/1/
The fund has no sales charge on reinvested dividends, deferred sales charge,/2/
redemption fees or exchange fees.
ANNUAL FUND OPERATING EXPENSES
(as a percentage of average net assets)
Management fees......................................... 0.40%
12b-1 expenses.......................................... 0.19%/3/
Other expenses (including audit, legal, shareholder
services, transfer agent and custodian expenses)........ 0.12%
Total fund operating expenses........................... 0.71%
<TABLE>
<CAPTION>
EXAMPLE 1 YEAR 3 YEARS 5 YEARS 10 YEARS
- ------- ------ ------- ------- --------
<S> <C> <C> <C> <C>
You would pay the following
cumulative expenses on a $1,000
investment, assuming a 5% annual
return./4/ $64 $79 $95 $141
</TABLE>
/1/ Sales charges are reduced for certain large purchases. (See "The American
Funds Shareholder Guide: Purchasing Shares--Sales Charges.")
/2/ Any employer-sponsored 403(b) plan or defined contribution plan qualified
under Section 401(a) of the Internal Revenue Code including a "401(k)" plan
with 200 or more eligible employees or any other purchaser investing at
least $1 million in shares of the fund (or in combination with shares of
other funds in The American Funds Group other than the money market funds)
may purchase shares at net asset value; however, a contingent deferred sales
charge of 1% applies on certain redemptions made within 12 months following
such purchases. (See "The American Funds Shareholder Guide: Redeeming
Shares--Contingent Deferred Sales Charge.")
/3/ These expenses may not exceed 0.25% of the fund's average net assets
annually. (See "Fund Organization and Management--Plan of Distribution.")
Due to these distribution expenses, long-term shareholders may pay more than
the economic equivalent of the maximum front-end sales charge permitted by
the National Association of Securities Dealers.
/4/ Use of this assumed 5% return is required by the Securities and Exchange
Commission; it is not an illustration of past or future investment results.
THIS EXAMPLE SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR FUTURE
EXPENSES; ACTUAL EXPENSES MAY BE GREATER OR LESSER THAN THOSE SHOWN.
3
<PAGE>
- -------------------------------------------------------------------------------
FINANCIAL The following information has been audited by Deloitte
HIGHLIGHTS & Touche LLP, independent accountants, whose unquali-
fied report covering each of the most recent five years
(For a share is included in the statement of additional information.
outstanding This information should be read in conjunction with the
throughout the financial statements and accompanying notes which are
fiscal year) also included in the statement of additional informa-
tion.
<TABLE>
<CAPTION>
YEAR ENDED FEBRUARY 28/29
-------------------------------------------------------------------------------
1996 1995 1994 1993 1992 1991 1990 1989 1988 1987
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Net Asset Value, Begin-
ning of Year........... $12.28 $12.98 $13.52 $13.23 $11.57 $10.87 $10.63 $10.37 $11.72 $10.35
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
INCOME FROM INVESTMENT
OPERATIONS
Net investment income. .16 .14 .12 .13 .17 .22 .27 .23 .21 .18
Net realized and
unrealized gain
(loss) on invest-
ments................ 3.32 .24 1.28 .63 2.10 1.44 1.22 .71 (.57) 2.63
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Total income from
investment
operations.......... 3.48 .38 1.40 .76 2.27 1.66 1.49 .94 (.36) 2.81
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
LESS DISTRIBUTIONS
Dividends from net in-
vestment income...... (.17) (.13) (.12) (.15) (.15) (.25) (.27) (.29) (.30) (.19)
Distributions from
capital gains........ (1.19) (.95) (1.82) (.32) (.46) (.71) (.98) (.39) (.69) (1.25)
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Total distributions.. (1.36) (1.08) (1.94) (.47) (.61) (.96) (1.25) (.68) (.99) (1.44)
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Net Asset Value, End of
Year................... $14.40 $12.28 $12.98 $13.52 $13.23 $11.57 $10.87 $10.63 $10.37 $11.72
====== ====== ====== ====== ====== ====== ====== ====== ====== ======
Total Return/1/......... 29.29% 3.41% 11.31% 5.94% 20.41% 16.76% 14.00% 9.63% (3.14)% 30.34%
RATIOS/SUPPLEMENTAL DATA
Net assets, end of year
(in millions)......... $3,693 $2,970 $3,063 $3,016 $2,796 $2,205 $1,928 $1,722 $1,691 $1,791
Ratio of expenses to
average net assets.... .71% .71% .72% .73% .75% .79% .72% .70% .63% .51%
Ratio of net income to
average net assets.... 1.16% 1.16% .89% 1.02% 1.37% 2.08% 2.33% 2.16% 1.90% 1.85%
Portfolio turnover
rate.................. 35.16% 17.92% 22.18% 14.72% 7.74% 16.32% 18.15% 14.46% 12.00% 16.62%
</TABLE>
--------
/1/ Calculated without deducting a sales charge. The maximum sales
charge is 5.75% of the fund's offering price.
INVESTMENT The fund's investment objective is to provide share-
OBJECTIVE AND holders with long-term growth of capital. Whatever cur-
POLICIES rent income is generated by the fund is likely to be
incidental to the objective of capital growth. Normal-
The fund's goal is ly, the fund will invest primarily in common stocks of
to provide you issuers domiciled in the U.S. However, assets may also
with long-term be held in securities convertible into common stocks,
growth of capital. straight debt securities (it is the fund's current in-
tention to restrict these investments to those rated in
the top three quality categories by Moody's Investors
Service, Inc. or Standard & Poor's Corporation or de-
termined to be of equivalent quality by Capital Re-
search and Management Company), cash or cash equiva-
lents, U.S. Government securities, or nonconvertible
preferred stocks. (See the statement of additional in-
formation for a description of cash equivalents.) In
addition, the fund may invest up to 5% of its assets in
equity securities of issuers domiciled in Canada, pro-
vided such securities are held by the fund's custodian
in the U.S. (See the statement of additional informa-
tion.)
4
<PAGE>
- -------------------------------------------------------------------------------
The fund's investment restrictions (which are described
in the statement of additional information) and
objective cannot be changed without shareholder
approval. All other investment practices may be changed
by the fund's board.
ACHIEVEMENT OF THE FUND'S INVESTMENT OBJECTIVE CANNOT,
OF COURSE, BE ASSURED DUE TO THE RISK OF CAPITAL LOSS
FROM FLUCTUATING PRICES INHERENT IN ANY INVESTMENT IN
SECURITIES.
INVESTMENT RISKS OF INVESTING Because the fund invests in common
TECHNIQUES stocks, the fund's portfolio is subject to market
risks, including, for example, the possibility that
Investing in stock prices in general may decline over short or even
stocks and extended periods.
bonds involves
certain risks. The fund may also invest in fixed-income securities,
including bonds, which have market values which tend to
vary inversely with the level of interest rates--when
interest rates rise, their values will tend to decline
and vice versa. Although under normal market conditions
longer term securities yield more than shorter term
securities of similar quality, they are subject to
greater price fluctuations. These fluctuations in the
value of the fund's investments will be reflected in
its net asset value per share.
MULTIPLE PORTFOLIO COUNSELOR SYSTEM The basic
investment philosophy of Capital Research and
Management Company is to seek fundamental values at
reasonable prices, using a system of multiple portfolio
counselors in managing mutual fund assets. Under this
system the portfolio of the fund is divided into
segments which are managed by individual counselors.
Each counselor decides how their segment will be
invested (within the limits provided by the fund's
objective and policies and by Capital Research and
Management Company's investment committee). In
addition, Capital Research and Management Company's
research professionals make investment decisions with
respect to a portion of the fund's portfolio. The
primary individual portfolio counselors for the fund
are listed on the next page.
5
<PAGE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
YEARS OF EXPERIENCE
AS
INVESTMENT PROFESSIONAL
(APPROXIMATE)
YEARS OF EXPERIENCE AS
PORTFOLIO COUNSELOR WITH CAPITAL
(AND RESEARCH RESEARCH AND
PORTFOLIO PROFESSIONAL, MANAGEMENT
COUNSELORS IF APPLICABLE) FOR COMPANY OR
FOR AMCAP FUND, INC. ITS TOTAL
AMCAP FUND, INC. PRIMARY TITLE(S) (APPROXIMATE) AFFILIATES YEARS
- -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Timothy D. Armour Executive Vice Less than 1 year 13 years 13 years
President, Capital (plus 8 years as a
Research Company* research professional
prior to becoming a
portfolio counselor
for the fund)
- -------------------------------------------------------------------------------------------
Gordon Crawford Senior Vice President 6 years, (plus 10 25 years 25 years
of the Fund. Senior years as a research
Vice President and professional prior to
Director, Capital becoming a portfolio
Research and counselor for the
Management Company fund)
- -------------------------------------------------------------------------------------------
James E. Drasdo Senior Vice President 11 years, (plus 7 19 years 24 years
and Director, Capital years as a research
Research and professional prior to
Management Company becoming a portfolio
counselor for the
fund)
- -------------------------------------------------------------------------------------------
Claudia P. Hunting- Senior Vice Less than 1 year 18 years 20 years
ton President, Capital (plus 14 years as a
Research Company* research professional
prior to becoming a
portfolio counselor
for the fund)
- -------------------------------------------------------------------------------------------
James B. Lovelace Vice President, 2 years, (plus 5 14 years 14 years
Capital Research and years as a research
Management Company professional prior to
becoming a portfolio
counselor for the
fund)
- -------------------------------------------------------------------------------------------
William C. Newton Senior Partner, The Since the fund began 37 years 43 years
Capital Group operations in 1967
Partners, L.P.*
- -------------------------------------------------------------------------------------------
R. Michael Shanahan President and 10 years 31 years 31 years
Principal Executive
Officer of the fund.
Chairman of the Board
and Principal
Executive Officer,
Capital Research and
Management Company
- -----------------------------------------------------------------------------------------
</TABLE>
The fund began operations on May 1, 1967.
*Company affiliated with Capital Research and Management Company.
6
<PAGE>
- -------------------------------------------------------------------------------
INVESTMENT RESULTS The fund may from time to time compare its investment
results to various unmanaged indices or other mutual
The fund has funds in reports to shareholders, sales literature and
averaged a total advertisements. The results may be calculated on a to-
return of 12.53% a tal return, yield and/or distribution rate basis for
year (assuming the various periods, with or without sales charges. Results
maximum sales calculated without a sales charge will be higher. Total
charge was paid) returns assume the reinvestment of all dividends and
over its lifetime capital gain distributions.
(May 1, 1967
through March 31, The fund's average annual total returns are calculated
1996) in accordance with Securities and Exchange Commission
requirements which provide that the maximum sales
charge be reflected. The fund's distribution rate is
calculated by dividing the dividends paid by the fund
over the last 12 months by the sum of the month-end
price and the capital gains paid over the last 12
months. The SEC yield reflects income the fund expects
to earn based on its current portfolio of securities,
while the distribution rate is based solely on the
fund's past dividends. Accordingly, the fund's SEC
yield and distribution rate may differ. For the 30-day
period ended March 31, 1996, the fund's SEC yield was
0.80% and the distribution rate was 1.05% at the maxi-
mum offering price. The fund's total return over the
past 12 months and average annual total returns over
the past five-year and ten-year periods as of March 31,
1996 were +17.60%, +11.20% and +12.01%, respectively.
Of course, past results are not an indication of future
results. Further information regarding the fund's in-
vestment results is contained in the fund's annual re-
port which may be obtained without charge by writing to
the Secretary of the fund at the address indicated on
the cover of this prospectus.
DIVIDENDS, DIVIDENDS AND DISTRIBUTIONS Dividends are usually paid
DISTRIBUTIONS AND twice each year. All capital gains, if any, are dis-
TAXES tributed annually. When a dividend or capital gain is
distributed, the net asset value per share is reduced
Income by the amount of the payment.
distributions are
usually made twice FEDERAL TAXES The fund intends to operate as a "regu-
each year. lated investment company" under the Internal Revenue
Code. In any fiscal year in which the fund so qualifies
and distributes to shareholders all of its net invest-
ment income and net capital gains, the fund itself is
relieved of federal income tax.
All dividends and capital gains are taxable whether
they are reinvested or received in cash--unless you are
exempt from taxation or entitled to tax deferral. Early
each year, you will be notified as to the amount and
federal tax status of all dividends and capital gains
paid during the prior year. Such dividends and capital
gains may also be subject to state or local taxes.
IF YOU HAVE NOT FURNISHED A CERTIFIED CORRECT TAXPAYER
IDENTIFICATION NUMBER (GENERALLY YOUR SOCIAL SECURITY
NUMBER) AND HAVE NOT CERTIFIED THAT WITHHOLDING DOES
NOT APPLY, OR IF THE INTERNAL REVENUE
7
<PAGE>
- -------------------------------------------------------------------------------
SERVICE HAS NOTIFIED THE FUND THAT THE TAXPAYER
IDENTIFICATION NUMBER LISTED ON YOUR ACCOUNT IS
INCORRECT ACCORDING TO THEIR RECORDS OR THAT YOU ARE
SUBJECT TO BACKUP WITHHOLDING, FEDERAL LAW GENERALLY
REQUIRES THE FUND TO WITHHOLD 31% FROM ANY DIVIDENDS
AND/OR REDEMPTIONS (INCLUDING EXCHANGE REDEMPTIONS).
Amounts withheld are applied to your federal tax
liability; a refund may be obtained from the Service if
withholding results in overpayment of taxes. Federal
law also requires the fund to withhold 30% or the
applicable tax treaty rate from dividends paid to
certain nonresident alien, non-U.S. partnership and
non-U.S. corporation shareholder accounts.
THIS IS A BRIEF SUMMARY OF SOME OF THE TAX LAWS THAT
AFFECT YOUR INVESTMENT IN THE FUND. PLEASE SEE THE
STATEMENT OF ADDITIONAL INFORMATION AND YOUR TAX AD-
VISER FOR FURTHER INFORMATION.
FUND ORGANIZATION FUND ORGANIZATION AND VOTING RIGHTS The fund, an open-
AND MANAGEMENT end diversified management investment company, was
organized as a Delaware corporation in 1966 and
The fund is a reorganized as a Maryland corporation in 1990. The
member of The fund's board supervises fund operations and performs
American Funds duties required by applicable state and federal law.
Group, which is Members of the board who are not employed by Capital
managed by one of Research and Management Company or its affiliates are
the largest and paid certain fees for services rendered to the fund as
most experienced described in the statement of additional information.
investment They may elect to defer all or a portion of these fees
advisers. through a deferred compensation plan in effect for the
fund. Shareholders have one vote per share owned and,
at the request of the holders of at least 10% of the
shares, the fund will hold a meeting at which any
member of the board could be removed by a majority
vote. There will not usually be a shareholder meeting
in any year except, for example, when the election of
the board is required to be acted upon by shareholders
under the Investment Company Act of 1940.
THE INVESTMENT ADVISER Capital Research and Management
Company, a large and experienced investment management
organization founded in 1931, is the investment adviser
to the fund and other funds, including those in The
American Funds Group. Capital Research and Management
Company is located at 333 South Hope Street, Los
Angeles, CA 90071 and at 135 South State College
Boulevard, Brea, CA 92621. (See "The American Funds
Shareholder Guide: Purchasing Shares--Investment
Minimums and Fund Numbers" for a listing of funds in
The American Funds Group.) Capital Research and
Management Company manages the investment portfolio and
business affairs of the fund and receives a fee at the
annual rate of 0.485% per annum on the first $1 billion
of the fund's average net assets; plus 0.385% per annum
on the portion of such net assets in excess of $1
billion but less than $2 billion; plus 0.355% per annum
on the portion of such net assets in
8
<PAGE>
- -------------------------------------------------------------------------------
excess of $2 billion but less than $3 billion; plus
0.335% per annum on the portion of such net assets in
excess of $3 billion but less than $5 billion; plus
0.32% per annum on the portion of such net assets in
excess of $5 billion but less than $8 billion; plus
0.31% per annum on the portion of such net assets in
excess of $8 billion.
Capital Research and Management Company is a wholly
owned subsidiary of The Capital Group Companies, Inc.
(formerly "The Capital Group, Inc."), which is located
at 333 South Hope Street, Los Angeles, CA 90071. The
research activities of Capital Research and Management
Company are conducted by affiliated companies which
have offices in Los Angeles, San Francisco, New York,
Washington, D.C., London, Geneva, Singapore, Hong Kong
and Tokyo.
Capital Research and Management Company and its
affiliated companies have adopted a personal investing
policy that is consistent with the recommendations
contained in the report dated May 9, 1994 issued by the
Investment Company Institute's Advisory Group on
Personal Investing. (See the statement of additional
information.) This policy has also been incorporated
into the fund's "Code of Ethics" which is available
from the fund's Secretary upon request.
PORTFOLIO TRANSACTIONS Orders for the fund's portfolio
securities transactions are placed by Capital Research
and Management Company, which strives to obtain the
best available prices, taking into account the costs
and quality of executions. In the over-the-counter mar-
ket, purchases and sales are transacted directly with
principal market-makers except in those circumstances
where it appears better prices and executions are
available elsewhere.
Subject to the above policy, when two or more brokers
are in a position to offer comparable prices and execu-
tions, preference may be given to brokers that have
sold shares of the fund or have provided investment re-
search, statistical, and other related services for the
benefit of the fund and/or of other funds served by
Capital Research and Management Company.
PRINCIPAL UNDERWRITER American Funds Distributors,
Inc., a wholly owned subsidiary of Capital Research and
Management Company, is the principal underwriter of the
fund's shares. American Funds Distributors is located
at 333 South Hope Street, Los Angeles, CA 90071, 135
South State College Boulevard, Brea, CA 92621, 8000 IH-
10 West, San Antonio, TX 78230, 8332 Woodfield Crossing
Boulevard, Indianapolis, IN 46240 and 5300 Robin Hood
Road, Norfolk, VA 23513. Telephone conversations with
American Funds Distributors may be recorded or
monitored for verification, recordkeeping and quality
assurance purposes.
9
<PAGE>
- --------------------------------------------------------------------------------
PLAN OF DISTRIBUTION The fund has a plan of distribu-
tion or "12b-1 Plan" under which it may finance activi-
ties primarily intended to sell shares, provided the
categories of expenses are approved in advance by the
board and the expenses paid under the plan were in-
curred within the last 12 months and accrued while the
plan is in effect. Expenditures by the fund under the
plan may not exceed 0.25% of its average net assets an-
nually (all of which may be for service fees). See
"Purchasing Shares--Sales Charges" below.
TRANSFER AGENT American Funds Service Company, a wholly
owned subsidiary of Capital Research and Management
Company, is the transfer agent and performs shareholder
service functions. It was paid a fee of $2,680,000 for
the year ended February 29, 1996. Telephone conversa-
tions with American Funds Service Company may be re-
corded or monitored for verification, recordkeeping and
quality assurance purposes.
AMERICAN FUNDS SERVICE COMPANY SERVICE AREAS
SERVICE ADDRESS AREAS SERVED
AREA
--------------------------------------------------------
WEST P.O. Box 2205 AK, AZ, CA, HI, ID,
Brea, CA 92622-2205 MT, NV, OR, UT, WA
Fax: 714/671-7080 and outside the U.S.
--------------------------------------------------------
CENTRAL- P.O. Box 659522 AR, CO, IA, KS, LA,
WEST San Antonio, TX 78265-9522 MN, MO, ND, NE, NM,
Fax: 210/530-4050 OK, SD, TX, and WY
--------------------------------------------------------
CENTRAL- P.O. Box 6007 AL, IL, IN, KY, MI,
EAST Indianapolis, IN MS, OH, TN and WI
46206-6007
Fax: 317/735-6620
--------------------------------------------------------
EAST P.O. Box 2280 CT, DE, FL, GA, MA,
Norfolk, VA 23501-2280 MD, ME, NC, NH, NJ,
Fax: 804/670-4773 NY, PA, RI, SC, VA,
VT, WV and
Washington, D.C.
--------------------------------------------------------
ALL SHAREHOLDERS MAY CALL AMERICAN FUNDS SERVICE
COMPANY AT 800/421-0180 FOR SERVICE.
--------------------------------------------------------
[LOGO]
--------------------------------------------------------
West (light grey); Central-West (white); Central-East
(dark grey), East (red)
10
<PAGE>
THE AMERICAN FUNDS SHAREHOLDER GUIDE
---------------------------------------------------------
PURCHASING SHARES METHOD INITIAL INVESTMENT ADDITIONAL INVESTMENTS
---------------------------------------------------------
Your investment See "Investment $50 minimum (except
dealer can help Minimums and Fund where a lower
you establish your Numbers" for minimum is noted
account--and help initial under "Investment
you add to it investment Minimums and Fund
whenever you like. minimums. Numbers").
--------------------------------------------------------
By Visit any Mail directly to
contacting investment dealer your investment
your who is registered dealer's address
investment in the state printed on your
dealer where the account statement.
purchase is made
and who has a
sales agreement
with American
Funds
Distributors.
---------------------------------------------------------
By mail Make your check Fill out the account
payable to the additions form at the
fund and mail to bottom of a recent
the address account statement,
indicated on the make your check
account payable to the fund,
application. write your account
Please indicate number on your check,
an investment and mail the check
dealer on the and form in the
account envelope provided
application. with your account
statement.
---------------------------------------------------------
By wire Call 800/421-0180 Your bank should wire
to obtain your your additional
account investments in the
number(s), if same manner as
necessary. Please described under
indicate an "Initial Investment."
investment dealer
on the account.
Instruct your
bank to wire
funds to:
Wells Fargo Bank
155 Fifth Street
Sixth Floor
San Francisco,
CA 94106
(ABA #121000248)
For credit to the
account of:
American Funds
Service Company
a/c #4600-076178
(fund name)
(your fund acct.
no.)
---------------------------------------------------------
THE FUNDS AND AMERICAN FUNDS DISTRIBUTORS RESERVE
THE RIGHT TO REJECT ANY PURCHASE ORDER.
SHARE PRICE Shares are purchased at the offering price
next determined after the order is received by the fund
or American Funds Service Company. In the case of orders
sent directly to the fund or American Funds Service
Company, an investment dealer MUST be indicated. This
price is the net asset value plus a sales charge, if
applicable. Dealers are responsible for promptly
transmitting orders. (See the statement of additional
information under "Purchase of Shares--Price of
Shares.")
The net asset value per share is determined as of the
close of trading (currently 4:00 p.m., New York time) on
each day the New York Stock Exchange is open. The
current value of the fund's total assets, less all
liabilities, is divided by the total number of shares
outstanding and the result, rounded to the nearer cent,
is the net asset value per share. The net asset value
per share of the money market funds normally will remain
constant at $1.00 based on the funds' current practice
of valuing their shares using the penny-rounding method
in accordance with rules of the Securities and Exchange
Commission.
SHARE CERTIFICATES Shares are credited to your account
and certificates are not issued unless specifically
requested. This eliminates the costly problem of lost or
destroyed certificates.
11
<PAGE>
- -------------------------------------------------------------------------------
If you would like certificates issued, please request
them by writing to American Funds Service Company.
There is usually no charge for issuing certificates in
reasonable denominations. CERTIFICATES ARE NOT AVAIL-
ABLE FOR THE MONEY MARKET FUNDS.
INVESTMENT MINIMUMS AND FUND NUMBERS Here are the
minimum initial investments required by the funds in
The American Funds Group along with fund numbers for
use with our automated phone line, American
FundsLine(R) (see description below):
<TABLE>
<CAPTION>
MINIMUM
INITIAL FUND
FUND INVESTMENT NUMBER
- ---- ---------- ------
<S> <C> <C>
STOCK AND STOCK/BOND FUNDS
AMCAP Fund(R)............................................ $1,000 02
American Balanced Fund(R)................................ 500 11
American Mutual Fund(R).................................. 250 03
Capital Income Builder(R)................................ 1,000 12
Capital World Growth and Income Fund(SM)................. 1,000 33
EuroPacific Growth Fund(R)............................... 250 16
Fundamental Investors(SM)................................ 250 10
The Growth Fund of America(R)............................ 1,000 05
The Income Fund of America(R)............................ 1,000 06
The Investment Company of America(R)..................... 250 04
The New Economy Fund(R).................................. 1,000 14
New Perspective Fund(R).................................. 250 07
SMALLCAP World Fund(SM).................................. 1,000 35
Washington Mutual Investors Fund(SM)..................... 250 01
<CAPTION>
MINIMUM
INITIAL FUND
FUND INVESTMENT NUMBER
- ---- ---------- ------
<S> <C> <C>
BOND FUNDS
American High-Income Municipal Bond Fund(SM).............. $1,000 40
American High-Income Trust(R)............................. 1,000 21
The Bond Fund of America(SM).............................. 1,000 08
Capital World Bond Fund(R)................................ 1,000 31
Intermediate Bond Fund of America(R)...................... 1,000 23
Limited Term Tax-Exempt Bond Fund of America(SM).......... 1,000 43
The Tax-Exempt Bond Fund of America(SM)................... 1,000 19
The Tax-Exempt Fund of California(R)*..................... 1,000 20
The Tax-Exempt Fund of Maryland(R)*....................... 1,000 24
The Tax-Exempt Fund of Virginia(R)*....................... 1,000 25
U.S. Government Securities Fund(SM)....................... 1,000 22
MONEY MARKET FUNDS
The Cash Management Trust of America(R)................... 2,500 09
The Tax-Exempt Money Fund of America(SM).................. 2,500 39
The U.S. Treasury Money Fund of America(SM)............... 2,500 49
</TABLE>
--------
*Available only in certain states.
For retirement plan investments, the minimum is $250,
except that the money market funds have a minimum of
$1,000 for individual retirement accounts (IRAs). Mini-
mums are reduced to $50 for purchases through "Auto-
matic Investment Plans" (except for the money market
funds) or to $25 for purchases by retirement plans
through payroll deductions and may be reduced or waived
for shareholders of other funds in The American Funds
Group. TAX-EXEMPT FUNDS SHOULD NOT SERVE AS RETIREMENT
PLAN INVESTMENTS. The minimum is $50 for additional in-
vestments (except as noted above).
SALES CHARGES The sales charges you pay when purchasing
the stock, stock/bond, and bond funds of The American
Funds Group are set forth below. The money market funds
of The American Funds Group are offered at net asset
value. (See "Investment Minimums and Fund Numbers" for
a listing of the funds.)
12
<PAGE>
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
DEALER
SALES CHARGE AS CONCESSION
PERCENTAGE OF THE: AS PERCENTAGE
------------------ OF THE
AMOUNT OF PURCHASE NET AMOUNT OFFERING OFFERING
AT THE OFFERING PRICE INVESTED PRICE PRICE
--------------------- ---------- -------- -------------
<S> <C> <C> <C>
STOCK AND STOCK/BOND FUNDS
Less than $50,000................. 6.10% 5.75% 5.00%
$50,000 but less than $100,000.... 4.71 4.50 3.75
BOND FUNDS
Less than $25,000................. 4.99 4.75 4.00
$25,000 but less than $50,000..... 4.71 4.50 3.75
$50,000 but less than $100,000.... 4.17 4.00 3.25
STOCK, STOCK/BOND, AND BOND FUNDS
$100,000 but less than $250,000... 3.63 3.50 2.75
$250,000 but less than $500,000... 2.56 2.50 2.00
$500,000 but less than $1,000,000. 2.04 2.00 1.60
$1,000,000 or more................ none none (see below)
</TABLE>
Commissions of up to 1% will be paid to dealers who
initiate and are responsible for purchases of $1
million or more, for purchases by any employer-
sponsored 403(b) plan or defined contribution plan
qualified under Section 401(a) of the Internal Revenue
Code including a "401(k)" plan with 200 or more
eligible employees (paid pursuant to the fund's plan of
distribution), and for purchases made at net asset
value by certain retirement plans of organizations with
collective retirement plan assets of $100 million or
more as set forth in the statement of additional
information (paid by American Funds Distributors).
American Funds Distributors, at its expense (from a
designated percentage of its income), will, during
calendar year 1996, provide additional compensation to
dealers. Currently these payments are limited to the
top one hundred dealers who have sold shares of the
fund or other funds in The American Funds Group. These
payments will be based on a pro rata share of a
qualifying dealer's sales. American Funds Distributors
will, on an annual basis, determine the advisability of
continuing these payments.
Any employer-sponsored 403(b) plan or defined
contribution plan qualified under Section 401(a) of the
Internal Revenue Code including a "401(k)" plan with
200 or more eligible employees or any other purchaser
investing at least $1 million in shares of the fund (or
in combination with shares of other funds in The
American Funds Group other than the money market funds)
may purchase shares at net asset value; however, a
contingent deferred sales charge of 1% is imposed on
certain redemptions made within twelve months of the
purchase. (See "Redeeming Shares--Contingent Deferred
Sales Charge.")
Qualified dealers currently are paid a continuing
service fee not to exceed 0.25% of average net assets
(0.15% in the case of the money market funds) annually
in order to promote selling efforts and to
13
<PAGE>
- -------------------------------------------------------------------------------
compensate them for providing certain services. (See
"Fund Organization and Management--Plan of
Distribution.") These services include processing
purchase and redemption transactions, establishing
shareholder accounts and providing certain information
and assistance with respect to the fund.
NET ASSET VALUE PURCHASES The stock, stock/bond and
bond funds may sell shares at net asset value to: (1)
current or retired directors, trustees, officers and
advisory board members of the funds managed by Capital
Research and Management Company, employees of
Washington Management Corporation, employees and
partners of The Capital Group Companies, Inc. and its
affiliated companies, certain family members of the
above persons, and trusts or plans primarily for such
persons; (2) current registered representatives,
retired registered representatives with respect to
accounts established while active, or full-time
employees (and their spouses, parents, and children) of
dealers who have sales agreements with American Funds
Distributors (or who clear transactions through such
dealers) and plans for such persons or the dealers; (3)
companies exchanging securities with the fund through a
merger, acquisition or exchange offer; (4) trustees or
other fiduciaries purchasing shares for certain
retirement plans of organizations with retirement plan
assets of $100 million or more; (5) insurance company
separate accounts; (6) accounts managed by subsidiaries
of The Capital Group Companies, Inc.; and (7) The
Capital Group Companies, Inc., its affiliated companies
and Washington Management Corporation. Shares are
offered at net asset value to these persons and
organizations due to anticipated economies in sales
effort and expense.
REDUCING AGGREGATION Sales charge discounts are available for
YOUR SALES certain aggregated investments. Qualifying investments
CHARGE include those by you, your spouse and your children
under the age of 21, if all parties are purchasing
You and your shares for their own account(s), which may include
immediate family purchases through employee benefit plan(s) such as an
may combine IRA, individual-type 403(b) plan or single-participant
investments to Keogh-type plan or by a business solely controlled by
reduce your costs. these individuals (for example, the individuals own the
entire business) or by a trust (or other fiduciary
arrangement) solely for the benefit of these
individuals. Individual purchases by a trustee(s) or
other fiduciary(ies) may also be aggregated if the
investments are (1) for a single trust estate or
fiduciary account, including an employee benefit plan
other than those described above or (2) made for two or
more employee benefit plans of a single employer or of
affiliated employers as defined in the Investment
Company Act of 1940, again excluding employee benefit
plans described above, or (3) for a diversified common
trust fund or other diversified pooled account not
specifically formed for the purpose of accumulating
fund shares. Purchases made for nominee or street name
accounts (securities held in the name of an investment
dealer or another nominee such as a bank trust
department instead of the customer) may not be
aggregated with those made for
14
<PAGE>
- -------------------------------------------------------------------------------
other accounts and may not be aggregated with other
nominee or street name accounts unless otherwise
qualified as described above.
CONCURRENT PURCHASES To qualify for a reduced sales
charge, you may combine concurrent purchases of two or
more funds in The American Funds Group, except direct
purchases of the money market funds. (Shares of the
money market funds purchased through an exchange,
reinvestment or cross-reinvestment from a fund having a
sales charge do qualify.) For example, if you
concurrently invest $25,000 in one fund and $25,000 in
another, the sales charge would be reduced to reflect a
$50,000 purchase.
RIGHT OF ACCUMULATION The sales charge for your invest-
ment may also be reduced by taking into account the
current value of your existing holdings in The American
Funds Group. Direct purchases of the money market funds
are excluded. (See account application.)
STATEMENT OF INTENTION You may reduce sales charges on
all investments by meeting the terms of a statement of
intention, a non-binding commitment to invest a certain
amount in fund shares subject to a commission within a
13-month period. Five percent of the statement amount
will be held in escrow to cover additional sales
charges which may be due if your total investments over
the statement period are insufficient to qualify for a
sales charge reduction. (See account application and
the statement of additional information under "Purchase
of Shares--Statement of Intention.")
YOU MUST LET YOUR INVESTMENT DEALER OR AMERICAN FUNDS
SERVICE COMPANY KNOW IF YOU QUALIFY FOR A REDUCTION IN
YOUR SALES CHARGE USING ONE OR ANY COMBINATION OF THE
METHODS DESCRIBED ABOVE.
SHAREHOLDER AUTOMATIC INVESTMENT PLAN You may make regular monthly
SERVICES or quarterly investments through automatic charges to
your bank account. Once a plan is established, your ac-
The fund offers count will normally be charged by the 10th day of the
you a valuable month during which an investment is made (or by the
array of services 15th day of the month in the case of any retirement
designed to plan for which Capital Guardian Trust Company--another
increase the affiliate of The Capital Group Companies, Inc.--acts as
convenience and trustee or custodian).
flexibility of
your investment-- AUTOMATIC REINVESTMENT Dividends and capital gain dis-
services you can tributions are reinvested in additional shares at no
use to alter your sales charge unless you indicate otherwise on the
investment program account application. You also may elect to have divi-
as your needs and dends and/or capital gain distributions paid in cash by
circumstances informing the fund, American Funds Service Company or
change. your investment dealer.
CROSS-REINVESTMENT You may cross-reinvest dividends or
dividends and capital gain distributions paid by one
fund into another fund in The American Funds Group,
subject to conditions outlined in the statement of ad-
ditional information. Generally, to use this service
the value of your account in the paying fund must equal
at least $5,000.
15
<PAGE>
- -------------------------------------------------------------------------------
EXCHANGE PRIVILEGE You may exchange shares into other
funds in The American Funds Group. Exchange purchases
are subject to the minimum investment requirements of
the fund purchased and no sales charge generally
applies. However, exchanges of shares from the money
market funds are subject to applicable sales charges on
the fund being purchased, unless the money market fund
shares were acquired by an exchange from a fund having
a sales charge, or by reinvestment or cross-
reinvestment of dividends or capital gain
distributions.
You may exchange shares by writing to American Funds
Service Company (see "Redeeming Shares"), by contacting
your investment dealer, by using American FundsLine(R)
(see "Shareholder Services--American FundsLine(R)" be-
low), or by telephoning 800/421-0180 toll-free, faxing
(see "Transfer Agent" above for the appropriate fax
numbers) or telegraphing American Funds Service Compa-
ny. (See "Telephone Redemptions and Exchanges" below.)
Shares held in corporate-type retirement plans for
which Capital Guardian Trust Company serves as trustee
may not be exchanged by telephone, fax or telegraph.
Exchange redemptions and purchases are processed simul-
taneously at the share prices next determined after the
exchange order is received. (See "Purchasing Shares--
Share Price.") THESE TRANSACTIONS HAVE THE SAME TAX
CONSEQUENCES AS ORDINARY SALES AND PURCHASES.
AUTOMATIC EXCHANGES You may automatically exchange
shares (in amounts of $50 or more) among any of the
funds in The American Funds Group on any day (or pre-
ceding business day if the day falls on a non-business
day) of each month you designate. You must either meet
the minimum initial investment requirement for the re-
ceiving fund OR the originating fund's balance must be
at least $5,000 and the receiving fund's minimum must
be met within one year.
AUTOMATIC WITHDRAWALS You may make automatic
withdrawals of $50 or more as follows: five or more
times per year if you have an account of $10,000 or
more, or four or fewer times per year if you have an
account of $5,000 or more. Withdrawals are made on or
about the 15th day of each month you designate, and
checks will be sent within seven days. (See "Other
Important Things to Remember.") Additional investments
in a withdrawal account must not be less than one
year's scheduled withdrawals or $1,200, whichever is
greater. However, additional investments in a
withdrawal account may be inadvisable due to sales
charges and tax liabilities.
THESE SERVICES ARE AVAILABLE ONLY IN STATES WHERE THE
FUND TO BE PURCHASED MAY BE LEGALLY OFFERED AND MAY BE
TERMINATED OR MODIFIED AT ANY TIME UPON 60 DAYS'
WRITTEN NOTICE.
ACCOUNT STATEMENTS Your account is opened in accordance
with your registration instructions. Transactions in
the account, such as additional investments and
dividend reinvestments, will be reflected on regular
confirmation statements from American Funds Service
Company. Purchases through automatic investment plans
will be confirmed at least quarterly.
16
<PAGE>
- -------------------------------------------------------------------------------
AMERICAN FUNDSLINE(R) You may check your share balance,
the price of your shares, or your most recent account
transaction, redeem shares (up to $10,000 per fund, per
account each day), or exchange shares around the clock
with American FundsLine(R). To use this service, call
800/325-3590 from a TouchTone(TM) telephone.
Redemptions and exchanges through American FundsLine(R)
are subject to the conditions noted above and in
"Redeeming Shares--Telephone Redemptions and Exchanges"
below. You will need your fund number (see the list of
funds in The American Funds Group under "Purchasing
Shares--Investment Minimums and Fund Numbers"),
personal identification number (the last four digits of
your Social Security number or other tax identification
number associated with your account) and account
number.
REDEEMING By writing to Send a letter of instruction
SHARES American specifying the name of the fund, the
Funds Service number of shares or dollar amount to
You may take money Company (at be sold, your name and account
out of your the number. You should also enclose any
account whenever appropriate share certificates you wish to
you please. address redeem. For redemptions over $50,000
indicated and for certain redemptions of
under "Fund $50,000 or less (see below), your
Organization signature must be guaranteed by a
and bank, savings association, credit
Management-- union, or member firm of a domestic
Transfer stock exchange or the National
Agent") Association of Securities Dealers,
Inc., that is an eligible guarantor
institution. You should verify with
the institution that it is an
eligible guarantor prior to signing.
Additional documentation may be
required for redemption of shares
held in corporate, partnership or
fiduciary accounts. Notarization by a
Notary Public is not an acceptable
signature guarantee.
--------------------------------------------------------
By contacting If you redeem shares through your
your investment dealer, you may be charged
investment for this service. SHARES HELD FOR YOU
dealer IN YOUR INVESTMENT DEALER'S STREET
NAME MUST BE REDEEMED THROUGH THE
DEALER.
--------------------------------------------------------
You may have You may use this option, provided the
a redemption account is registered in the name of
check sent to an individual(s), a UGMA/UTMA
you by using custodian, or a non-retirement plan
American trust. These redemptions may not
FundsLine(R) exceed $10,000 per day, per fund
or by account and the check must be made
telephoning, payable to the shareholder(s) of
faxing, or record and be sent to the address of
telegraphing record provided the address has been
American used with the account for at least 10
Funds Service days. See "Transfer Agent" and
Company "Exchange Privilege" above for the
(subject to appropriate telephone or fax number.
the
conditions
noted in this
section and
in "Telephone
Redemptions
and
Exchanges"
below)
--------------------------------------------------------
In the case Upon request (use the account
of the money application for the money market
market funds, funds) you may establish telephone
you may have redemption privileges (which will
redemptions enable you to have a redemption sent
wired to your to your bank account) and/or check
bank by writing privileges. If you request
telephoning check writing privileges, you will be
American provided with checks that you may use
Funds Service to draw against your account. These
Company checks may be made payable to anyone
($1,000 or you designate and must be signed by
more) or by the authorized number of registered
writing a shareholders exactly as indicated on
check ($250 your checking account signature card.
or more)
--------------------------------------------------------
A SIGNATURE GUARANTEE IS NOT CURRENTLY REQUIRED FOR ANY
REDEMPTION OF $50,000 OR LESS PROVIDED THE REDEMPTION
CHECK IS MADE PAYABLE TO THE REGISTERED SHAREHOLDER(S)
AND IS MAILED TO THE ADDRESS OF RECORD, PROVIDED THE
ADDRESS HAS BEEN USED WITH THE ACCOUNT FOR AT LEAST 10
DAYS.
17
<PAGE>
- -------------------------------------------------------------------------------
THE PRICE YOU RECEIVE FOR THE SHARES YOU REDEEM IS THE
NET ASSET VALUE NEXT DETERMINED AFTER YOUR ORDER AND
ALL REQUIRED DOCUMENTATION ARE RECEIVED BY THE FUND OR
AMERICAN FUNDS SERVICE COMPANY. (SEE "PURCHASING
SHARES--SHARE PRICE.")
TELEPHONE REDEMPTIONS AND EXCHANGES By using the
telephone (including American FundsLine(R)), fax or
telegraph redemption and/or exchange options, you agree
to hold the fund, American Funds Service Company, any
of its affiliates or mutual funds managed by such
affiliates, and each of their respective directors,
trustees, officers, employees and agents harmless from
any losses, expenses, costs or liability (including
attorney fees) which may be incurred in connection with
the exercise of these privileges. Generally, all
shareholders are automatically eligible to use these
options. However, you may elect to opt out of these
options by writing American Funds Service Company (you
may reinstate them at any time also by writing American
Funds Service Company). If American Funds Service
Company does not employ reasonable procedures to
confirm that the instructions received from any person
with appropriate account information are genuine, the
fund may be liable for losses due to unauthorized or
fraudulent instructions. In the event that shareholders
are unable to reach the fund by telephone because of
technical difficulties, market conditions, or a natural
disaster, redemption and exchange requests may be made
in writing only.
CONTINGENT DEFERRED SALES CHARGE A contingent deferred
sales charge of 1% applies to certain redemptions made
within twelve months of purchase on investments of $1
million or more and on any investment made with no
initial sales charge by any employer-sponsored 403(b)
plan or defined contribution plan qualified under
Section 401(a) of the Internal Revenue Code including a
"401(k)" plan with 200 or more eligible employees. The
charge is 1% of the lesser of the value of the shares
redeemed (exclusive of reinvested dividends and capital
gain distributions) or the total cost of such shares.
Shares held for the longest period are assumed to be
redeemed first for purposes of calculating this charge.
The charge is waived for exchanges (except if shares
acquired by exchange were then redeemed within 12
months of the initial purchase); for distributions from
qualified retirement plans and other employee benefit
plans; for redemptions resulting from participant-
directed switches among investment options within a
participant-directed employer-sponsored retirement
plan; for distributions from 403(b) plans or IRAs due
to death, disability or attainment of age 59 1/2; for
tax-free returns of excess contributions to IRAs; for
redemptions through certain automatic withdrawals not
exceeding 10% of the amount that would otherwise be
subject to the charge; and for redemptions in
connection with loans made by qualified retirement
plans.
REINSTATEMENT PRIVILEGE You may reinvest proceeds from
a redemption or a dividend or capital gain distribution
without a sales charge (any contingent deferred sales
charge paid will be credited to your
18
<PAGE>
- -------------------------------------------------------------------------------
account) in any fund in The American Funds Group. Send
a written request and a check to American Funds Service
Company within 90 days after the date of the redemption
or distribution. Reinvestment will be at the next
calculated net asset value after receipt. The tax
status of a gain realized on a redemption will not be
affected by exercise of the reinstatement privilege,
but a loss may be nullified if you reinvest in the same
fund within 30 days. If you redeem your shares within
90 days after purchase and the sales charge on the
purchase of other shares is waived under the
reinstatement privilege, the sales charge you
previously paid for the shares may not be taken into
account when you calculate your gain or loss on that
redemption.
OTHER IMPORTANT THINGS TO REMEMBER The net asset value
for redemptions is determined as indicated under
"Purchasing Shares--Share Price." Because each stock,
stock/bond and bond fund's net asset value fluctuates,
reflecting the market value of the fund's portfolio,
the amount a shareholder receives for shares redeemed
may be more or less than the amount paid for them.
Redemption proceeds will not be mailed until sufficient
time has passed to provide reasonable assurance that
checks or drafts (including certified or cashier's
checks) for shares purchased have cleared (which may
take up to 15 calendar days from the purchase date).
Except for delays relating to clearance of checks for
share purchases or in extraordinary circumstances (and
as permissible under the Investment Company Act of
1940), redemption proceeds will be paid on or before
the seventh day following receipt of a proper
redemption request.
A fund may, with 60 days' written notice, close your
account if, due to a redemption, the account has a
value of less than the minimum required initial
investment. (For example, a fund may close an account
if a redemption is made shortly after a minimum initial
investment is made.)
RETIREMENT You may invest in the funds through various retirement
PLANS plans including the following plans for which Capital
Guardian Trust Company acts as trustee or custodian:
IRAs, Simplified Employee Pension plans, 403(b) plans
and Keogh- and corporate-type business retirement
plans. For further information about any of the plans,
agreements, applications and annual fees, contact
American Funds Distributors or your investment dealer.
To determine which retirement plan is appropriate for
you, please consult your tax adviser. TAX-EXEMPT FUNDS
SHOULD NOT SERVE AS INVESTMENTS FOR RETIREMENT PLANS.
FOR MORE INFORMATION, PLEASE REFER TO THE ACCOUNT
APPLICATION OR THE STATEMENT OF ADDITIONAL INFORMATION.
IF YOU HAVE ANY QUESTIONS ABOUT ANY OF THE SHAREHOLDER
SERVICES DESCRIBED HEREIN OR YOUR ACCOUNT, PLEASE
CONTACT YOUR INVESTMENT DEALER OR AMERICAN FUNDS
SERVICE COMPANY.
[RECYCLE LOGO] This prospectus has been printed on
recycled paper that meets the
guidelines of the United States
Environmental Protection Agency
19
Prospectus
for Retirement Plans
AMCAP
FUND(R)
An opportunity for long-term
growth of capital
May 1, 1996
[LOGO OF THE AMERICAN FUNDS GROUP(R)]
AMCAP FUND, INC.
333 South Hope Street
Los Angeles, California 90071
The fund's investment objective is to provide shareholders with long-term growth
of capital. Whatever current income is generated by the fund is likely to be
incidental to the objective of capital growth. Normally, the fund will invest
primarily in common stocks.
This prospectus relates only to shares of the fund offered without a sales
charge to eligible retirement plans. For a prospectus regarding shares of the
fund to be acquired otherwise, contact the Secretary of the fund at the address
indicated above.
This prospectus presents information you should know before investing in the
fund. It should be retained for future reference.
You may obtain the statement of additional information, dated May 1, 1996, which
contains the fund's financial statements, without charge, by writing to the
Secretary of the fund at the above address or telephoning 800/421-0180. These
requests will be honored within three business days of receipt.
SHARES OF THE FUND ARE NOT DEPOSITS OR OBLIGATIONS OF, OR INSURED OR GUARANTEED
BY, THE U.S. GOVERNMENT, ANY FINANCIAL INSTITUTION, THE FEDERAL DEPOSIT
INSURANCE CORPORATION, OR ANY OTHER AGENCY, ENTITY OR PERSON. THE PURCHASE OF
FUND SHARES INVOLVES INVESTMENT RISKS, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
02-010-0596
<PAGE>
- -------------------------------------------------------------------------------
SUMMARY OF
EXPENSES
Average annual
expenses paid over
a 10-year period
would be
approximately $9
per year, assuming
a $1,000
investment and a
5% annual return
with no sales
charge.
TABLE OF CONTENTS
Summary of Expenses.......... 2
Financial Highlights......... 3
Investment Objective and
Policies.................... 3
Investment Techniques........ 4
Investment Results........... 5
Dividends, Distributions and
Taxes....................... 6
Fund Organization and
Management.................. 7
Purchasing Shares............ 9
Shareholder Services......... 10
Redeeming Shares............. 11
This table is designed to help you understand costs of investing in the fund.
These are historical expenses; your actual expenses may vary.
SHAREHOLDER TRANSACTION EXPENSES
Certain retirement plans may purchase shares of the fund with no sales
charge./1/ The fund also has no sales charge on reinvested dividends, deferred
sales charge, redemption fees or exchange fees.
ANNUAL FUND OPERATING EXPENSES
(as a percentage of average net assets)
Management fees......................................... 0.40%
12b-1 expenses.......................................... 0.19%/2/
Other expenses (including audit, legal, shareholder
services, transfer agent and custodian expenses)....... 0.12%
Total fund operating expenses........................... 0.71%
<TABLE>
<CAPTION>
EXAMPLE 1 YEAR 3 YEARS 5 YEARS 10 YEARS
- ------- ------ ------- ------- --------
<S> <C> <C> <C> <C>
You would pay the following
cumulative expenses on a $1,000
investment, assuming a 5% annual
return./3/ $7 $23 $40 $88
</TABLE>
/1/ Retirement plans of organizations with $100 million or more in collective
retirement plan assets may purchase shares of the fund with no sales charge.
In addition, any employer-sponsored 403(b) plan or defined contribution plan
qualified under Section 401(a) of the Internal Revenue Code including a
"401(k)" plan with 200 or more eligible employees or any other plan that
invests at least $1 million in shares of the fund (or in combination with
shares of other funds in The American Funds Group other than the money
market funds) may purchase shares at net asset value; however, a contingent
deferred sales charge of 1% applies on certain redemptions made within 12
months following such purchases. (See "Redeeming Shares--Contingent Deferred
Sales Charge.")
/2/ These expenses may not exceed 0.25% of the fund's average net assets
annually. (See "Fund Organization and Management--Plan of Distribution.")
Due to these distribution expenses, long-term shareholders may pay more than
the economic equivalent of the maximum front-end sales charge permitted by
the National Association of Securities Dealers.
/3/ Use of this assumed 5% return is required by the Securities and Exchange
Commission; it is not an illustration of past or future investment results.
THIS EXAMPLE SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR FUTURE
EXPENSES; ACTUAL EXPENSES MAY BE GREATER OR LESSER THAN THOSE SHOWN.
2
<PAGE>
- -------------------------------------------------------------------------------
FINANCIAL The following information has been audited by Deloitte
HIGHLIGHTS & Touche LLP, independent accountants, whose unquali-
(For a share fied report covering each of the most recent five years
outstanding is included in the statement of additional information.
throughout the This information should be read in conjunction with the
fiscal year) financial statements and accompanying notes which are
also included in the statement of additional informa-
tion.
<TABLE>
<CAPTION>
YEAR ENDED FEBRUARY 28/29
-------------------------------------------------------------------------------
1996 1995 1994 1993 1992 1991 1990 1989 1988 1987
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Net Asset Value, Begin-
ning of Year........... $12.28 $12.98 $13.52 $13.23 $11.57 $10.87 $10.63 $10.37 $11.72 $10.35
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
INCOME FROM INVESTMENT
OPERATIONS
Net investment income. .16 .14 .12 .13 .17 .22 .27 .23 .21 .18
Net realized and
unrealized gain
(loss) on invest-
ments................ 3.32 .24 1.28 .63 2.10 1.44 1.22 .71 (.57) 2.63
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Total income from in-
vestment
operations.......... 3.48 .38 1.40 .76 2.27 1.66 1.49 .94 (.36) 2.81
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
LESS DISTRIBUTIONS
Dividends from net in-
vestment income...... (.17) (.13) (.12) (.15) (.15) (.25) (.27) (.29) (.30) (.19)
Distributions from
capital gains........ (1.19) (.95) (1.82) (.32) (.46) (.71) (.98) (.39) (.69) (1.25)
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Total distributions.. (1.36) (1.08) (1.94) (.47) (.61) (.96) (1.25) (.68) (.99) (1.44)
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Net Asset Value, End of
Year................... $14.40 $12.28 $12.98 $13.52 $13.23 $11.57 $10.87 $10.63 $10.37 $11.72
====== ====== ====== ====== ====== ====== ====== ====== ====== ======
Total Return/1/......... 29.29% 3.41% 11.31% 5.94% 20.41% 16.76% 14.00% 9.63% (3.14)% 30.34%
RATIOS/SUPPLEMENTAL DATA
Net assets, end of year
(in millions)......... $3,693 $2,970 $3,063 $3,016 $2,796 $2,205 $1,928 $1,722 $1,691 $1,791
Ratio of expenses to
average net assets.... .71% .71% .72% .73% .75% .79% .72% .70% .63% .51%
Ratio of net income to
average net assets.... 1.16% 1.16% .89% 1.02% 1.37% 2.08% 2.33% 2.16% 1.90% 1.85%
Portfolio turnover
rate.................. 35.16% 17.92% 22.18% 14.72% 7.74% 16.32% 18.15% 14.46% 12.00% 16.62%
</TABLE>
--------
/1/ Calculated with no sales charge.
INVESTMENT The fund's investment objective is to provide
OBJECTIVE AND shareholders with long-term growth of capital. Whatever
POLICIES current income is generated by the fund is likely to be
incidental to the objective of capital growth.
The fund's goal is Normally, the fund will invest primarily in common
to provide you stocks of issuers domiciled in the U.S. However, assets
with long-term may also be held in securities convertible into common
growth of capital. stocks, straight debt securities (it is the fund's
current intention to restrict these investments to
those rated in the top three quality categories by
Moody's Investors Service, Inc. or Standard & Poor's
Corporation or determined to be of equivalent quality
by Capital Research and Management Company), cash or
cash equivalents, U.S. Government securities, or
nonconvertible preferred stocks. (See the statement of
additional information for a description of cash
equivalents.) In addition, the fund may invest up to 5%
of its assets in equity securities of issuers domiciled
in Canada, provided such securities are held by the
fund's custodian in the U.S. (See the statement of
additional information.)
3
<PAGE>
- -------------------------------------------------------------------------------
The fund's investment restrictions (which are described
in the statement of additional information) and
objective cannot be changed without shareholder
approval. All other investment practices may be changed
by the fund's board.
ACHIEVEMENT OF THE FUND'S INVESTMENT OBJECTIVE CANNOT,
OF COURSE, BE ASSURED DUE TO THE RISK OF CAPITAL LOSS
FROM FLUCTUATING PRICES INHERENT IN ANY INVESTMENT IN
SECURITIES.
INVESTMENT RISKS OF INVESTING Because the fund invests in common
TECHNIQUES stocks, the fund's portfolio is subject to market
risks, including, for example, the possibility that
Investing in stock prices in general may decline over short or even
stocks and bonds extended periods.
involves certain
risks. The fund may also invest in fixed-income securities,
including bonds, which have market values which tend to
vary inversely with the level of interest rates--when
interest rates rise, their values will tend to decline
and vice versa. Although under normal market conditions
longer term securities yield more than shorter term
securities of similar quality, they are subject to
greater price fluctuations. These fluctuations in the
value of the fund's investments will be reflected in
its net asset value per share.
MULTIPLE PORTFOLIO COUNSELOR SYSTEM The basic
investment philosophy of Capital Research and
Management Company is to seek fundamental values at
reasonable prices, using a system of multiple portfolio
counselors in managing mutual fund assets. Under this
system the portfolio of the fund is divided into
segments which are managed by individual counselors.
Each counselor decides how their segment will be
invested (within the limits provided by the fund's
objective and policies and by Capital Research and
Management Company's investment committee). In
addition, Capital Research and Management Company's
research professionals make investment decisions with
respect to a portion of the fund's portfolio. The
primary individual portfolio counselors for the fund
are listed on the next page.
4
<PAGE>
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
YEARS OF EXPERIENCE
AS INVESTMENT PROFESSIONAL
(APPROXIMATE)
YEARS OF EXPERIENCE AS
(AND RESEARCH WITH CAPITAL
PROFESSIONAL IF RESEARCH AND
PORTFOLIO APPLICABLE) PORTFOLIO MANAGEMENT
COUNSELORS COUNSELOR COMPANY OR
FOR FOR AMCAP FUND, INC. ITS TOTAL
AMCAP FUND, INC. PRIMARY TITLE(S) (APPROXIMATE) AFFILIATES YEARS
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Timothy D. Armour Executive Vice Less than 1 year, 13 years 13 years
President, Capital (plus 8 years as a
Research Company* research professional
prior to becoming a
portfolio counselor
for the fund)
- ---------------------------------------------------------------------------------------------
Gordon Crawford Senior Vice President 6 years, (plus 10 25 years 25 years
of the fund. Senior years as a research
Vice President and professional prior to
Director, Capital becoming a portfolio
Research and counselor for the
Management Company fund)
- ---------------------------------------------------------------------------------------------
James E. Drasdo Senior Vice President 11 years, (plus 7 19 years 24 years
and Director, Capital years as a research
Research and professional prior to
Management Company becoming a portfolio
counselor for the
fund)
- ---------------------------------------------------------------------------------------------
Claudia P. Hunting- Senior Vice Less than 1 year, 18 years 20 years
ton President, Capital (plus 14 years as a
Research Company* research professional
prior to becoming a
portfolio counselor
for the fund)
- ---------------------------------------------------------------------------------------------
James B. Lovelace Vice President, 2 years, (plus 6 14 years 14 years
Capital Research and years as a research
Management Company professional prior to
becoming a portfolio
counselor for the
fund)
- ---------------------------------------------------------------------------------------------
William C. Newton Senior Partner, The Since the fund began 37 years 43 years
Capital Group operations in 1967
Partners, L.P.*
- ---------------------------------------------------------------------------------------------
R. Michael Shanahan President and 10 years 31 years 31 years
Director of the fund.
Chairman of the Board
and Principal
Executive Officer,
Capital Research and
Management Company
- --------------------------------------------------------------------------------------------
</TABLE>
The fund began operations on May 1, 1967.
*Company affiliated with Capital Research and Management Company.
INVESTMENT RESULTS The fund may from time to time compare its investment
results to various unmanaged indices or other mutual
The fund has funds in reports to shareholders, sales literature and
averaged a total advertisements. The results may be calculated on a to-
return (at no tal return and/or yield basis for various periods, with
sales charge) of or without sales charges. Results calculated without a
12.76% a year over sales charge will be higher. Total returns assume the
its lifetime (May reinvestment of all dividends and capital gain distri-
1, 1967 through butions.
March 31, 1996).
The fund's average annual total returns are calculated
with no sales charge in accordance with Securities and
Exchange Commission requirements. The fund's distribu-
tion rate is calculated by dividing the dividends paid
by the fund over the last 12 months by the sum of the
month-end
5
<PAGE>
- -------------------------------------------------------------------------------
price and the capital gains paid over the last 12
months. The SEC yield reflects income the fund expects
to earn based on its current portfolio of securities,
while the distribution rate is based solely on the
fund's past dividends. Accordingly, the fund's SEC
yield and distribution rate may differ. For the 30-day
period ended March 31, 1996, the fund's SEC yield was
0.85% and the distribution rate was 1.11% with no sales
charges. The fund's total return over the past 12
months and average annual total returns over the past
five-year and ten-year periods as of March 31, 1996
were 24.79%, 12.53% and 12.67%, respectively. Of
course, past results are not an indication of future
results. Further information regarding the fund's
investment results is contained in the fund's annual
report which may be obtained without charge by writing
to the Secretary of the fund at the address indicated
on the cover of this prospectus.
DIVIDENDS, DIVIDENDS AND DISTRIBUTIONS Dividends are usually paid
DISTRIBUTIONS AND twice each year. All capital gains, if any, are dis-
TAXES tributed annually. When a dividend or capital gain is
distributed, the net asset value per share is reduced
Income by the amount of the payment.
distributions are
usually made twice The terms of your plan will govern how your plan may
each year. receive distributions from the fund. Generally, peri-
odic distributions from the fund to your plan are rein-
vested in additional fund shares, although your plan
may permit fund distributions from net investment in-
come to be received by you in cash while reinvesting
capital gains distributions in additional shares or all
fund distributions to be received in cash. Unless you
select another option, all distributions will be rein-
vested in additional fund shares.
FEDERAL TAXES The fund intends to operate as a "regu-
lated investment company" under the Internal Revenue
Code. In any fiscal year in which the fund so qualifies
and distributes to shareholders all of its net invest-
ment income and net capital gains, the fund itself is
relieved of federal income tax. The tax treatment of
redemptions from a retirement plan may differ from re-
demptions from an ordinary shareholder account.
Please see the statement of additional information and
your tax adviser for further information.
6
<PAGE>
- -------------------------------------------------------------------------------
FUND ORGANIZATION FUND ORGANIZATION AND VOTING RIGHTS The fund, an open-
AND MANAGEMENT end diversified management investment company, was
organized as a Delaware corporation in 1966 and
The fund is a reorganized as a Maryland corporation in 1990. The
member of The fund's board supervises fund operations and performs
American Funds duties required by applicable state and federal law.
Group, which is Members of the board who are not employed by Capital
managed by one of Research and Management Company or its affiliates are
the largest and paid certain fees for services rendered to the fund as
most experienced described in the statement of additional information.
investment They may elect to defer all or a portion of these fees
advisers. through a deferred compensation plan in effect for the
fund. Shareholders have one vote per share owned and,
at the request of the holders of at least 10% of the
shares, the fund will hold a meeting at which any
member of the board could be removed by a majority
vote. There will not usually be a shareholder meeting
in any year except, for example, when the election of
the board is required to be acted upon by shareholders
under the Investment Company Act of 1940.
THE INVESTMENT ADVISER Capital Research and Management
Company, a large and experienced investment management
organization founded in 1931, is the investment adviser
to the fund and other funds, including those in The
American Funds Group. Capital Research and Management
Company is located at 333 South Hope Street, Los Ange-
les, CA 90071 and at 135 South State College Boulevard,
Brea, CA 92621. Capital Research and Management Company
manages the investment portfolio and business affairs
of the fund and receives a fee at the annual rate of
0.485% per annum on the first $1 billion of the fund's
average net assets; plus 0.385% per annum on the por-
tion of such net assets in excess of $1 billion but
less than $2 billion; plus 0.355% per annum on the por-
tion of such net assets in excess of $2 billion but
less than $3 billion; plus 0.335% per annum on the por-
tion of such net assets in excess of $3 billion but
less than $5 billion; plus 0.32% per annum on the por-
tion of such net assets in excess of $5 billion but
less than $8 billion; plus 0.31% per annum on the por-
tion of such net assets in excess of $8 billion.
Capital Research and Management Company is a wholly
owned subsidiary of The Capital Group Companies, Inc.
(formerly "The Capital Group, Inc."), which is located
at 333 South Hope Street, Los Angeles, CA 90071. The
research activities of Capital Research and Management
Company are conducted by affiliated companies which
have offices in Los Angeles, San Francisco, New York,
Washington, D.C., London, Geneva, Singapore, Hong Kong
and Tokyo.
Capital Research and Management Company and its
affiliated companies have adopted a personal investing
policy that is consistent with the recommendation
contained in the report dated May 9, 1994 issued by
7
<PAGE>
- -------------------------------------------------------------------------------
the Investment Company Institute's Advisory Group on
Personal Investing. (See the statement of additional
information.) This policy has also been incorporated
into the fund's "Code of Ethics" which is available
from the fund's Secretary upon request.
PORTFOLIO TRANSACTIONS Orders for the fund's portfolio
securities transactions are placed by Capital Research
and Management Company, which strives to obtain the
best available prices, taking into account the costs
and quality of executions. In the over-the-counter mar-
ket, purchases and sales are transacted directly with
principal market-makers except in those circumstances
where it appears better prices and executions are
available elsewhere.
Subject to the above policy, when two or more brokers
are in a position to offer comparable prices and
executions, preference may be given to brokers that
have sold shares of the fund or have provided
investment research, statistical, and other related
services for the benefit of the fund and/or of other
funds served by Capital Research and Management
Company.
PRINCIPAL UNDERWRITER American Funds Distributors,
Inc., a wholly owned subsidiary of Capital Research and
Management Company, is the principal underwriter of the
fund's shares. American Funds Distributors is located
at 333 South Hope Street, Los Angeles, CA 90071, 135
South State College Boulevard, Brea, CA 92621, 8000 IH-
10 West, San Antonio, TX 78230, 8332 Woodfield Crossing
Boulevard, Indianapolis, IN 46240 and 5300 Robin Hood
Road, Norfolk, VA 23513. Telephone conversations with
American Funds Distributors may be recorded or
monitored for verification, recordkeeping and quality
assurance purposes.
PLAN OF DISTRIBUTION The fund has a plan of distribu-
tion or "12b-1 Plan" under which it may finance activi-
ties primarily intended to sell shares, provided the
categories of expenses are approved in advance by the
board and the expenses paid under the plan were in-
curred within the last 12 months and accrued while the
plan is in effect. Expenditures by the fund under the
plan may not exceed 0.25% of its average net assets an-
nually (all of which may be for service fees).
TRANSFER AGENT American Funds Service Company, 800/421-
0180, a wholly owned subsidiary of Capital Research and
Management Company, is the transfer agent and performs
shareholder service functions. American Funds Service
Company is located at 333 South Hope Street, Los
Angeles, CA 90071, 135 South State College Boulevard,
Brea, CA 92621, 8000 IH-10 West, San Antonio, TX 78230,
5300 Robin Hood Road, Norfolk, VA 23513 and 8332
Woodfield Crossing Boulevard, Indianapolis, IN 46240.
It was paid a fee of $2,680,000 for
8
<PAGE>
- -------------------------------------------------------------------------------
the fiscal year ended February 29, 1996. Telephone
conversations with American Funds Service Company may
be recorded or monitored for verification,
recordkeeping and quality assurance purposes.
PURCHASING SHARES ALL ORDERS TO PURCHASE SHARES MUST BE MADE THROUGH YOUR
RETIREMENT PLAN. FOR MORE INFORMATION ABOUT HOW TO
PURCHASE SHARES OF THE FUND THROUGH YOUR PLAN OR
LIMITATIONS ON THE AMOUNT THAT MAY BE PURCHASED, PLEASE
CONSULT WITH YOUR EMPLOYER. Shares are sold to eligible
retirement plans at the net asset value per share next
determined after receipt of an order by the fund or
American Funds Service Company. Orders must be received
before the close of regular trading on the New York
Stock Exchange in order to receive that day's net asset
value. Plans of organizations with collective
retirement plan assets of $100 million or more may
purchase shares at net asset value. In addition, any
employer-sponsored 403(b) plan or defined contribution
plan qualified under Section 401(a) of the Internal
Revenue Code including a "401(k)" plan with 200 or more
eligible employees or any other plan that invests at
least $1 million in shares of the fund (or in
combination with shares of other funds in The American
Funds Group other than the money market funds) may
purchase shares at net asset value; however, a
contingent deferred sales charge of 1% is imposed on
certain redemptions made within twelve months of such
purchase. (See "Redeeming Shares--Contingent Deferred
Sales Charge.") Plans may also qualify to purchase
shares at net asset value by completing a statement of
intention to purchase $1 million in fund shares subject
to a commission over a maximum of 13 consecutive
months. Certain redemptions of such shares may also be
subject to a contingent deferred sales charge as
described above. (See the statement of additional
information.) The minimum initial investment is $250,
except that the money market funds have a minimum of
$1,000 for individual retirement accounts (IRAs) .
Minimums are reduced to $50 for purchases through
"Automatic Investment Plans" (except for the money
market funds) or to $25 for purchases by retirement
plans through payroll deductions and may be reduced or
waived for shareholders of other funds in The American
Funds Group.
Commissions of up to 1% will be paid to dealers who
initiate and are responsible for purchases of $1 mil-
lion or more, for purchases by any employer-sponsored
403(b) plan or defined contribution plan qualified un-
der Section 401(a) of the Internal Revenue Code includ-
ing a "401(k)" plan with 200 or more eligible employees
(paid pursuant to the fund's plan of distribution), and
for purchases made at net asset value by certain re-
tirement plans of organizations with collective retire-
ment plan assets of $100 million or more as set forth
in the statement of additional information (paid by
American Funds Distributors).
9
<PAGE>
- --------------------------------------------------------------------------------
American Funds Distributors, at its expense (from a des-
ignated percentage of its income), will, during calendar
year 1996, provide additional compensation to dealers.
Currently these payments are limited to the top one hun-
dred dealers who have sold shares of the fund or other
funds in The American Funds Group. These payments will
be based on a pro rata share of a qualifying dealer's
sales. American Funds Distributors will, on an annual
basis, determine the advisability of continuing these
payments.
Qualified dealers currently are paid a continuing serv-
ice fee not to exceed 0.25% of average net assets (0.15%
in the case of the money market funds) annually in order
to promote selling efforts and to compensate them for
providing certain services. (See "Fund Organization and
Management--Plan of Distribution.") These services in-
clude processing purchase and redemption transactions,
establishing shareholder accounts and providing certain
information and assistance with respect to the fund.
Shares of the fund are offered to other shareholders
pursuant to another prospectus at public offering prices
that may include an initial sales charge.
SHARE PRICE Shares are offered to eligible retirement
plans at the net asset value next determined after the
order is received by the fund or American Funds Service
Company. In the case of orders sent directly to the fund
or American Funds Service Company, an investment dealer
must be indicated. Dealers are responsible for promptly
transmitting orders. (See the statement of additional
information under "Purchase of Shares--Price of
Shares.")
The fund's net asset value per share is determined as of
the close of trading (currently 4:00 p.m., New York
time) on each day the New York Stock Exchange is open.
The current value of the fund's total assets, less all
liabilities, is divided by the total number of shares
outstanding and the result, rounded to the nearer cent,
is the net asset value per share.
SHAREHOLDER Subject to any restrictions contained in your plan, you
SERVICES can exchange your shares for shares of other funds in
The American Funds Group which are offered through the
plan at net asset value. In addition, again depending on
your plan, you may be able to exchange shares automati-
cally or cross-reinvest dividends in shares of other
funds. Contact your plan administrator/trustee regarding
how to use these services. Also, see the fund's state-
ment of additional information for a description of
these and other services that may be available through
your plan. These services are available only in states
where the fund to be purchased may be legally offered
and may be terminated or modified at any time upon 60
days' written notice.
10
<PAGE>
- -------------------------------------------------------------------------------
REDEEMING Subject to any restrictions imposed by your plan, you
SHARES can sell your shares through the plan to the fund any
day the New York Stock Exchange is open. For more in-
formation about how to sell shares of the fund through
your retirement plan, including any charges that may be
imposed by the plan, please consult with your employer.
---------------------------------------------------------
By contacting Your plan administrator/trustee must
your plan send a letter of instruction specifying
administrator/ the name of the fund, the number of
trustee shares or dollar amount to be sold,
and, if applicable, your name and
account number. You should also enclose
any certificates you wish to redeem.
For your protection, if you redeem more
than $50,000, the signatures of the
registered owners (i.e., trustees or
their legal representatives) must be
guaranteed by a bank, savings
association, credit union, or member
firm of a domestic stock exchange or
the National Association of Securities
Dealers, Inc., that is an eligible
guarantor institution. Your plan
administrator/trustee should verify
with the institution that it is an
eligible guarantor prior to signing.
Additional documentation may be
required to redeem shares from certain
accounts. Notarization by a Notary
Public is not an acceptable signature.
---------------------------------------------------------
By contacting Shares may also be redeemed through
an investment an investment dealer; however, you or
dealer your plan may be charged for this
service. SHARES HELD FOR YOU IN AN
INVESTMENT DEALER'S STREET NAME MUST
BE REDEEMED THROUGH THE DEALER.
--------------------------------------------------------
THE PRICE YOU RECEIVE FOR THE SHARES YOU REDEEM IS THE
NET ASSET VALUE NEXT DETERMINED AFTER YOUR ORDER AND
ALL REQUIRED DOCUMENTATION ARE RECEIVED BY THE FUND OR
AMERICAN FUNDS SERVICE COMPANY. (SEE "PURCHASING
SHARES--SHARE PRICE.")
CONTINGENT DEFERRED SALES CHARGE A contingent deferred
sales charge of 1% applies to certain redemptions made
within twelve months of purchase on investments of $1
million or more and on any investment made with no
initial sales charge by any employer-sponsored 403(b)
plan or defined contribution plan qualified under
Section 401(a) of the Internal Revenue Code including a
"401(k)" plan with 200 or more eligible employees. The
charge is 1% of the lesser of the value of the shares
redeemed (exclusive of reinvested dividends and capital
gain distributions) or the total cost of such shares.
Shares held for the longest period are assumed to be
redeemed first for purposes of calculating this charge.
The charge is waived for exchanges (except if shares
acquired by exchange were then redeemed within 12
months of the initial purchase); for distributions from
qualified retirement plans and other employee benefit
plans; for redemptions resulting from participant-
directed switches among investment options within a
participant-directed employer-sponsored retirement
plan; and for redemptions in connection with loans made
by qualified retirement plans.
11
<PAGE>
- -------------------------------------------------------------------------------
OTHER IMPORTANT THINGS TO REMEMBER The net asset value
for redemptions is determined as indicated under
"Purchasing Shares--Share Price." Because the fund's
net asset value fluctuates, reflecting the market value
of the portfolio, the amount you receive for shares
redeemed may be more or less than the amount paid for
them.
Redemption proceeds will not be mailed until sufficient
time has passed to provide reasonable assurance that
checks or drafts (including certified or cashier's
checks) for shares purchased have cleared (which may
take up to 15 calendar days from the purchase date).
Except for delays relating to clearance of checks for
share purchases or in extraordinary circumstances (and
as permissible under the Investment Company Act of
1940), redemption proceeds will be paid on or before
the seventh day following receipt of a proper
redemption request.
[RECYCLE LOGO] This prospectus has been printed on
recycled paper that meets the
guidelines of the United States
Environmental Protection Agency
THIS PROSPECTUS RELATES ONLY TO SHARES OF THE FUND
OFFERED WITHOUT A SALES CHARGE TO ELIGIBLE
RETIREMENT PLANS. FOR A PROSPECTUS REGARDING SHARES
OF THE FUND TO BE ACQUIRED OTHERWISE, CONTACT THE
SECRETARY OF THE FUND AT THE ADDRESS INDICATED ON
THE FRONT.
12
AMCAP FUND, INC.
Part B
Statement of Additional Information
May 1, 1996
This document is not a prospectus but should be read in conjunction
with the current Prospectus of AMCAP Fund, Inc. (the "fund") dated May 1, 1996.
The prospectus may be obtained from your investment dealer or financial planner
or by writing to the fund at the following address:
AMCAP Fund, Inc.
Attention: Secretary
333 South Hope Street
Los Angeles, CA 90071
(213) 486-9200
The fund has two forms of prospectuses. Each reference to the prospectus
in this Statement of Additional Information includes both of the fund's
prospectuses. Shareholders who purchase shares at net asset value through
eligible retirement plans should note that not all of the services or features
described below may be available to them, and they should contact their
employer for details.
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Item Page No.
<S> <C>
Investment Philosophy 1
Description of Certain Securities 2
Description of Bond Ratings 3
Investment Restrictions 4
Fund Directors and Officers 6
Director Compensation 6
Management 11
Dividends, Distributions and Federal Taxes 13
Purchase of Shares 15
Shareholder Account Services and Privileges 17
Redemption of Shares 18
Execution of Portfolio Transactions 18
General Information. 19
Investment Results 20
Financial Statements Attached
</TABLE>
INVESTMENT PHILOSOPHY
The Investment Adviser strives for a broad and flexible approach to
investing. In managing the portfolio of the fund, which has the objective of
long-term growth of capital, investment consideration is given to companies
whose earnings are expected to show rapid or consistent growth or are
cyclically depressed, but have good potential for recovery.
Good companies are not always good investments. At times even the
strongest, best-managed companies can become overvalued in the marketplace; and
the key to investment problem-solving is in the correct appraisal of the
relationship between fundamental value and market price. When a stock appears
to have become overpriced relative to other available investments, it may be
sold by the fund -- no matter how highly the company itself is regarded -- and
the money is put to work elsewhere. Although it is not the fund's practice to
trade actively in securities for short-term profits, securities may be disposed
of without regard for the length of time held -- if such sales appear to the
Investment Adviser to further the investment objective of the fund.
DESCRIPTION OF CERTAIN SECURITIES
Subsequent to its purchase by the fund, an issue of straight debt
securities may cease to be rated or its rating may be reduced below the minimum
rating required for its purchase. Neither event requires the elimination of
such obligation from the fund's portfolio, but the Investment Adviser will
consider such an event in its determination of whether the fund should continue
to hold such obligation in its portfolio. If, as a result of a downgrade or
otherwise, the fund holds more than 5% of its net assets in securities rated Ba
or BB or below (also known as "high-yield, high-risk securities"), the fund
will dispose of the excess as expeditiously as possible.
U.S. GOVERNMENT SECURITIES - Securities guaranteed by the U.S. Government
include: (1) direct obligations of the U.S. Treasury (such as Treasury bills,
notes and bonds) and (2) federal agency obligations guaranteed as to principal
and interest by the U.S. Treasury. In these securities, the payment of
principal and interest is unconditionally guaranteed by the U.S. Government,
and thus they are of the highest possible credit quality. Such securities are
subject to variations in market value due to fluctuations in interest rates,
but, if held to maturity, will be paid in full.
Securities issued by U.S. Government instrumentalities and certain federal
agencies are neither direct obligations of, nor guaranteed by, the Treasury.
However, they generally involve federal sponsorship in one way or another; some
are backed by specific types of collateral; some are supported by the issuer's
right to borrow from the Treasury; some are supported by the discretionary
authority of the Treasury to purchase certain obligations of the issuer; others
are supported only by the credit of the issuing government agency or
instrumentality. These agencies and instrumentalities include, but are not
limited to, Federal Land Banks, Farmers Home Administration, Central Bank for
Cooperatives, and Federal Intermediate Credit Banks.
CASH EQUIVALENTS - These securities include (1) commercial paper (short-term
notes up to 9 months in maturity issued by corporations or governmental
bodies), (2) commercial bank obligations (certificates of deposit, bankers'
acceptances (time drafts on a commercial bank where the bank accepts an
irrevocable obligation to pay at maturity) and documented discount notes
(corporate promissory discount notes accompanied by a commercial bank guarantee
to pay at maturity)), (3) savings association and savings bank obligations
(e.g., certificates of deposit issued by savings banks or savings and loan
associations), (4) securities of the U.S. Government, its agencies or
instrumentalities that mature, or may be redeemed, in one year or less, and (5)
corporate bonds and notes that mature, or that may be redeemed, in one year or
less.
RISKS OF INVESTING OUTSIDE THE U.S. - The fund may invest up to 5% of its
assets in equity securities of companies domiciled in Canada, provided such
securities are held by the fund's custodian in the U.S. These companies may be
subject to different accounting, auditing and financial reporting standards and
practices or regulatory requirements comparable to those applicable to U.S.
companies. Additionally, specific local political and economic factors must be
evaluated in making these investments including trade and related economic
policies and political or social instability.
DESCRIPTION OF BOND RATINGS
Moody's Investors Service, Inc. rates the long-term debt securities issued by
various entities from "Aaa" to "C." Moody's applies the numerical modifiers 1,
2, and 3 in each generic rating classification from AA through B in its
corporate bond rating system. The modifier 1 indicates that the security ranks
in the higher end of its generic rating category; the modifier 2 indicates a
mid-range ranking; and the modifier 3 indicates that the issue ranks in the
lower end of its generic rating category. The top three rating categories are
described as follows:
"Bonds which are rated Aaa are judged to be of the best quality. They carry
the smallest degree of investment risk and are generally referred to as 'gilt
edge.' Interest payments are protected by a large or by an exceptionally
stable margin, and principal is secure. While the various protective elements
are likely to change, such changes as can be visualized are most unlikely to
impair the fundamentally strong position of such issues."
"Bonds which are rated Aa are judged to be of high quality by all standards.
Together with the Aaa group, they comprise what are generally known as
high-grade bonds. They are rated lower than the best bonds because margins of
protection may not be as large as in Aaa securities, or fluctuation of
protective elements may be of greater amplitude, or there may be other elements
present which make the long-term risks appear somewhat larger than the Aaa
securities."
"Bonds which are rated A possess many favorable investment attributes and are
to be considered as upper medium grade obligations. Factors giving security to
principal and interest are considered adequate, but elements may be present
which suggest a susceptibility to impairment sometime in the future."
Standard & Poor's Corporation rate the long-term securities debt of various
entities in categories ranging from "AAA" to "D" according to quality. The
ratings from "AA" to "CCC" may be modified by the addition of a plus (+) or
minus (-) sign to show relative standing within the major rating categories.
The top three rating categories are described as follows:
"Debt rated 'AAA' has the highest rating assigned by Standard & Poor's.
Capacity to pay interest and repay principal is extremely strong."
"Debt rated 'AA' has a very strong capacity to pay interest and repay
principal and differs from the higher rated issues only in small degree."
"Debt rated 'A' has a strong capacity to pay interest and repay principal
although it is somewhat more susceptible to the adverse effects of changes in
circumstances and economic conditions than debt in higher rated categories."
INVESTMENT RESTRICTIONS
The fund has adopted certain investment restrictions which may not be
changed without a majority vote of its outstanding shares. Such majority is
defined by the Investment Company Act of 1940 (the "1940 Act") as the vote of
the lesser of (i) 67% or more of the outstanding voting securities present at a
meeting, if the holders of more than 50% of the outstanding voting securities
are present in person or by proxy, or (ii) more than 50% of the outstanding
voting securities. These restrictions provide that:
1. The fund may not invest in:
(a) real estate (although it has not been the practice of the fund to make
such investments, the fund may invest in the securities of real estate
investment trusts);
(b) commodities or commodity contracts;
(c) companies for the purpose of exercising control or management;
(d) the securities of companies which, with their predecessors, have a record
of less than three years' continuing operation, if such purchase at the time
thereof would cause more than 5% of the value of the fund's total assets to be
invested in the securities of such companies;
(e) securities which would subject the fund to unlimited liability (such as
assessable shares or partnership interests);
(f) any securities of another issuer if immediately after and as a result of
such purchase (1) the market value of the securities of such other issuer shall
exceed 5% of the market value of the total assets of the fund or (2) the fund
shall own more than 10% of any class of securities or of the outstanding voting
securities of such issuer; or
(g) any securities if immediately after and as a result of such purchase more
than 25% of the market value of the total assets of the fund are invested in
securities of companies in any one industry.
2. The fund may not engage in short sales or margin purchases.
3. The fund may not lend money or securities. The making of deposits with
banks and the purchase of a portion of the issue of bonds, debentures, or other
debt securities which are publicly distributed or of a type generally purchased
by institutional investors, are not regarded as loans.
4. The fund may not invest more than 10% of the value of its total assets in
securities that are illiquid, nor may it engage in the business of underwriting
securities of other issuers.
5. The fund may not borrow in excess of 10% of its total assets taken at cost
or pledge its assets taken at market value to an extent greater than 15% of
total assets taken at cost. Asset coverage of at least 300% taken at market
value must be maintained. No borrowing may be undertaken except as a temporary
measure for extraordinary or emergency purposes. (The fund may borrow only
from banks. The fund, however, has never borrowed and does not currently
anticipate borrowing.)
Property acquired through merger, consolidation, or acquisition of
substantially all of the assets of any other corporation is not considered an
investment within the terms of the investment restrictions of the fund if
disposed of within a reasonable time and in no event more than six months after
acquisition. If, in the future, the fund increases its 10% limit on
investing in illiquid securities, the fund has agreed that it will invest no
more than 15% of its net assets in securities which are not readily marketable
in compliance with Texas Securities Law.
Pursuant to Ohio Administrative Code the fund will not invest in
securities of registered investment companies that are subject to the
Investment Company Act of 1940.
Investment restriction #1 does not apply to deposits in banks or to the
purchase of securities issued or fully guaranteed by the U.S. Government (or
its agencies or instrumentalities). For purposes of investment restriction
#1(g), the fund will not invest 25% or more (rather than "more than 25%") of
its total assets in the securities of issuers in the same industry.
In addition to the foregoing policies, it is also the policy of the fund
not to invest in securities of open-end investment companies except in
connection with a merger, consolidation or acquisition of assets, but the fund
may invest in securities of closed-end investment companies within the
limitations imposed by the 1940 Act. (Notwithstanding this restriction, the
fund may invest in securities of other investment companies if deemed advisable
by its officers in connection with the administration of a deferred
compensation plan adopted by Directors pursuant to an exemptive order granted
by the Securities and Exchange Commission.) In general, this means (i) that
the fund will not own more than 3% of the outstanding voting stock of a
closed-end investment company, (ii) that the fund will not invest more than an
aggregate of 10% of its total assets in securities issued by closed-end
investment companies, and (iii) that the fund, together with all other
investment companies served by the Investment Adviser, will not own more than
10% of the outstanding voting stock of a closed-end investment company. Any
such purchases will be made only in the open market or as a part of a merger,
consolidation, or acquisition of assets, and will not involve commissions or
profits to a sponsor or dealer other than customary brokerage commissions.
The fund will not purchase or retain the securities of any issuer if those
officers and directors of the fund or the Investment Adviser who own
beneficially more than one-half of one percent of such issuer together own more
than five percent of the securities of such issuer. The fund will not make
investments in puts, calls, straddles, spreads, or any combination thereof, nor
will it purchase partnership interests in oil, gas, or mineral exploration,
drilling or mining ventures or leases. The fund will not invest more than 5%
of its net assets, valued at the lower of cost or market at the time of
purchase, in warrants including not more than 2% of such net assets in warrants
that are not listed on either the New York Stock Exchange or the American Stock
Exchange; however, warrants acquired in units or attached to securities may be
deemed to be without value for the purpose of this restriction. Changes in the
policies described in the foregoing two paragraphs do not require shareholder
approval.
FUND OFFICERS AND DIRECTORS
Directors and Director Compensation
(with their principal occupations during the past five years)#
<TABLE>
<CAPTION>
NAME, ADDRESS AND AGE POSITION WITH PRINCIPAL OCCUPATION(S) DURING AGGREGATE TOTAL COMPENSATION TOTAL NUMBER
REGISTRANT PAST 5 YEARS (POSITIONS WITHIN THE COMPENSATION FROM ALL FUNDS OF FUND BOARDS ON
ORGANIZATIONS LISTED MAY HAVE (INCLUDING MANAGED BY CAPITAL WHICH
CHANGED DURING THIS PERIOD) VOLUNTARILY DEFERRED RESEARCH AND DIRECTOR
COMPENSATION/1/) FROM MANAGEMENT COMPANY/2/ SERVES/2/
FUND DURING FISCAL
YEAR ENDED 2/29/96
<S> <C> <C> <C> <C> <C>
Guilford C. Babcock Director Associate Professor of Finance,
1575 Circle Drive School of Business Administration, $12,200/3/ $21,700 2
San Marino, CA 91108 University of Southern California
Age: 64
Charles H. Black Director Private investor and consultant;
525 Alma Real Drive former Executive Vice President $13,400 $98,400 4
Pacific Palisades, CA 90272 and Director, KaiserSteel
Age: 69 Corporation
Martin Fenton, Jr. Director Chairman, Senior Resource Group
Senior Resource Group (management of senior living $13,400/3/ $111,550 16
4350 Executive Drive centers)
Suite 101
San Diego, CA
92121-2116
Age: 60
James D. Fullerton Chairman Retired; former Vice Chairman of
595 E. Colorado Boulevard Emeritus the Board, The Capital Group, Inc. $6,100 $6,100 1
Suite 323
Pasadena, CA 91101
Age: 79
Herbert Hoover III Director Private Investor
1520 Circle Drive $12,600 $58,200 14
San Marino, CA 91108
Age: 68
Gail L. Neale Director Executive Vice President, Salzburg
Salzburg Seminar Seminar; former Director of $12,600/3/ $54,500 4
P.O. Box 886 Development and the Capital
The Marbleworks Campaign, Hampshire College;
Middlebury, VT 05753 Special Advisor, The
Age: 61 Commonwealth Fund and Mount
Holyoke College
Kirk P. Pendleton Director President, Cairnwood, Inc.
Cairnwood, Inc. $12,600/3/ $23,600 2
75 James Way
Southampton, PA 18966
Age: 56
+James W. Ratzlaff Director Director, American Funds
Capital Research and Management Company Service Company; Senior Partner, none/4/ none/4/
8
Four Embarcadero Ctr. The Capital Group Partners, L.P.
Suite 1800
San Francisco, CA 94111-4125
Age: 59
Henry E. Riggs Director President and Professor of
Kingston Hall 201 Engineering, Harvey Mudd $12,600/3/ $65,900 5
Harvey Mudd College College; former Thomas W. Ford Professor of Engineering and
Claremont, CA 91711 Vice President of Development,
Age: 61 Stanford University
+*R. Michael Shanahan Director Chairman of the Board and
Age: 57 Principal Executive Officer, none/4/ none/4/ 2
Capital
Research and Management
Company; Director, The Capital
Group Companies, Inc.; Director,
Capital Group Research, Inc.
+Walter P. Stern Chairman of Chairman, Capital Group
Capital Research Company the Board International, Inc.; Vice none/4/ none/4/ 8
630 Fifth Avenue Chairman,
New York, NY 10111 Capital Research International;
Age: 67 Chairman, Capital International,
Inc.; Director, Temple-Inland,
Inc.
Charles Wolf, Jr. Director Dean, The RAND Graduate
The RAND Graduate School; $12,600/3/ $54,500 4
School Director, International Economic
1700 Main Street Studies, The RAND Corporation
Santa Monica, CA 90406
Age: 71
</TABLE>
# Positions within the organizations listed may have changed during this
period.
+ Directors who are considered "interested persons as defined in the Investment
Company Act of 1940, as amended (the "1940 Act"), on the basis of their
affiliation with the fund's Investment Adviser, Capital Research and Management
Company.
* Address is 333 South Hope Street, Los Angeles, CA 90071
/1/ Amounts may be deferred by eligible directors under a non-qualified
deferred compensation plan adopted by the Fund in 1993. Deferred amounts
accumulate at an earnings rate determined by the total return of one or more
funds in The American Funds Group as designated by the Director.
/2/ Capital Research and Management Company manages The American Funds Group
consisting of 28 funds: American Balanced Fund, Inc., American High-Income
Municipal Bond Fund, Inc., American High-Income Trust, American Mutual Fund,
Inc., The Bond Fund of America, Inc., The Cash Management Trust of America,
Capital Income Builder, Inc., Capital World Growth and Income Fund, Inc.,
Capital World Bond Fund, Inc., EuroPacific Growth Fund, Fundamental Investors,
Inc., The Growth Fund of America, Inc., The Income Fund of America, Inc.,
Intermediate Bond Fund of America, The Investment Company of America, Limited
Term Tax-Exempt Bond Fund of America, The New Economy Fund, New Perspective
Fund, Inc., SMALLCAP World Fund, Inc., The Tax-Exempt Bond Fund of America,
Inc., The Tax-Exempt Fund of California, The Tax-Exempt Fund of Maryland, The
Tax-Exempt Fund of Virginia, The Tax-Exempt Money Fund of America, The U. S.
Treasury Money Fund of America, U.S. Government Securities Fund and Washington
Mutual Investors Fund, Inc. Capital Research and Management Company also
manages American Variable Insurance Series and Anchor Pathway Fund which serve
as the underlying investment vehicle for certain variable insurance contracts;
and Bond Portfolio for Endowments, Inc. and Endowments, Inc. whose shares may
be owned only by tax-exempt organizations. These amounts reflect the aggregate
compensation paid during the most recent fiscal year of the funds involved.
/3/ Since the plan's adoption, the total amount of deferred compensation
accrued by the fund (plus earnings thereon) for participating Directors is as
follows: Guilford C. Babcock ($35,516), Martin Fenton, Jr. ($19,123), Gail L.
Neale ($21,348), Kirk P. Pendleton ($32,285), Henry E. Riggs ($34,453) and
Charles Wolf, Jr. ($32,208). Amounts deferred and accumulated earnings thereon
are not funded and are general unsecured liabilities of the fund until paid to
the Director.
/4/ James W. Ratzlaff, R. Michael Shanahan and Walter P. Stern are affiliated
with the Investment Adviser and, accordingly, receive no compensation from the
Fund.
OFFICERS
* GORDON CRAWFORD, Senior Vice President. Capital Research and Management
Company, Director and Senior Vice President
* PAUL G. HAAGA, JR., Senior Vice President. Capital Research and Management
Company, Director and Senior Vice President
* GREGORY W. WENDT, Vice President. Capital Research Company, Vice
President
* JULIE F. WILLIAMS, Secretary. Capital Research and Management Company, Vice
President - Fund Business Management Group
** MARY C. HALL, Treasurer. Capital Research and Management
Company, Senior Vice President - Fund Business Management Group
*** ROBERT P. SIMMER, Assistant Treasurer. Capital Research and Management
Company, Vice President - Fund Business Management Group
# Positions within the organizations listed may have changed during this
period.
* Address is 333 South Hope Street, Los Angeles, CA 90071.
** Address is 135 South State College Boulevard, Brea, CA 92621.
*** Address is 5300 Robin Hood Road, Norfolk, VA 23513.
No compensation is paid by the fund to any officer or director who is
a director or officer of the Investment Adviser. The fund pays annual fees of
$9,000 to directors who are not affiliated with the Investment Adviser, plus
$800 for each Board of Directors meeting attended, plus $400 for each meeting
attended as a member of a committee of the Board of Directors. No pension or
retirement benefits are accrued as part of fund expenses. The Directors may
elect, on a voluntary basis, to defer all or a portion of their fees through a
deferred compensation plan in effect for the fund. The fund also reimburses
certain expenses of the Directors who are not affiliated with the Investment
Adviser. As of April 1, 1996, the officers and directors of the fund and
their families as a group owned beneficially or of record less than 1% of the
outstanding shares of the fund.
MANAGEMENT
INVESTMENT ADVISER - The Investment Adviser, founded in 1931, maintains
research facilities in the U.S. and abroad, with a staff of professionals, many
of whom have a number of years of investment experience. The Investment
Adviser's research professionals travel several million miles a year, making
more than 5,000 research visits in more than 50 countries around the world.
The Investment Adviser believes that it is able to attract and retain quality
personnel.
An affiliate of the Investment Adviser compiles indices for major stock
markets around the world and compiles and edits the Morgan Stanley Capital
International Perspective, providing financial and market information about
more than 2,400 companies around the world.
The Investment Adviser is responsible for more than $100 billion of
stocks, bonds and money market instruments and serves over five million
investors of all types throughout the world. These investors include privately
owned businesses and large corporations, as well as schools, colleges,
foundations and other non-profit and tax-exempt organizations.
INVESTMENT ADVISORY AND SERVICE AGREEMENT - The Investment Advisory and
Service Agreement (the "Agreement") between the fund and the Investment
Adviser, unless sooner terminated, will continue until March 31, 1997 and may
be renewed from year to year thereafter, provided that any such renewal has
been specifically approved at least annually by (i) the Board of Directors, or
by the vote of a majority (as defined in the 1940 Act) of the outstanding
voting securities, and (ii) the vote of a majority of directors who are not
parties to the Agreement or interested persons (as defined in the 1940 Act) of
any such party, cast in person at a meeting called for the purpose of voting on
such approval. The Agreement provides that the Investment Adviser has no
liability to the fund for its acts or omissions in the performance of its
obligations to the fund not involving willful misconduct, bad faith, gross
negligence or reckless disregard of its obligations under the Agreement. The
Agreement also provides that either party has the right to terminate it,
without penalty, upon 60 days' written notice to the other party and that the
Agreement automatically terminates in the event of its assignment (as defined
in the 1940 Act).
The Investment Adviser, in addition to providing investment advisory
services, furnishes the services and pays the compensation and travel expenses
of qualified persons to perform executive, administrative, clerical and
bookkeeping functions of the fund; provides suitable office space and
utilities; and furnishes necessary small office equipment and general purpose
accounting forms, supplies, and postage used at the offices of the fund
relating to the services furnished by the Investment Adviser.
The fund pays all expenses not specifically assumed by the Investment
Adviser, including, but not limited to, custodian, registrar, stock transfer
and dividend disbursing fees and expenses; expenses pursuant to the fund's Plan
of Distribution (see below); costs of designing, printing and mailing reports,
prospectuses, proxy statements and notices to shareholders; taxes; expenses of
the issuance, sale, redemption, or repurchase of shares of the fund (including
stock certificates, registration and qualification fees and expenses); legal
and auditing fees and expenses; compensation, fees, and expenses paid to
Directors not affiliated with the Investment Adviser; association dues; and
costs of stationery and forms prepared exclusively for the fund.
The Investment Adviser has agreed to pay to the fund annually,
immediately after the fiscal year end the amount by which the total expenses of
the fund for any particular fiscal year, except taxes and interest, exceed an
amount equal to 1% of the average of the total net assets of the fund for the
year. During the fiscal years ended February 29, 1996, February 28, 1995 and
1994, the Investment Adviser's fees amounted to $13,418,000, $11,954,000 and
$12,301,000, respectively.
PRINCIPAL UNDERWRITER - American Funds Distributors, Inc. (the "Principal
Underwriter") is the principal underwriter of the fund's shares. The fund has
adopted a Plan of Distribution (the "Plan"), pursuant to rule 12b-1 under the
1940 Act (see "Principal Underwriter" in the Prospectus). The Principal
Underwriter receives amounts payable pursuant to the Plan (see below) and
commissions consisting of that portion of the sales charge remaining after the
discounts which it allows to investment dealers. Commissions retained by the
Principal Underwriter on sales of fund shares during the fiscal year ended
February 29, 1996 amounted to $747,000 after allowance of $3,798,000 to
dealers. During the fiscal years ended February 28, 1995 and 1994 , the
Principal Underwriter retained $639,000 and $922,000, respectively.
As required by rule 12b-1, the Plan (together with the Principal
Underwriting Agreement) has been approved by the full Board of Directors and
separately by a majority of the Directors who are not "interested persons" of
the fund and who have no direct or indirect financial interest in the operation
of the Plan or the Principal Underwriting Agreement, and the Plan has been
approved by the vote of a majority of the outstanding voting securities of the
fund. The officers and Directors who are "interested persons" of the fund may
be considered to have a direct or indirect financial interest in the operation
of the Plan due to present or past affiliations with the Investment Adviser and
related companies. Potential benefits of the Plan to the fund include improved
shareholder services, savings to the fund in transfer agency costs, savings to
the fund in advisory fees and other expenses, benefits to the investment
process from growth or stability of assets and maintenance of a financially
healthy management organization. The selection and nomination of Directors who
are not "interested persons" of the fund are committed to the discretion of the
Directors who are not "interested persons" during the existence of the Plan.
The Plan is reviewed quarterly and must be renewed annually by the Board of
Directors.
Under the Plan the fund may expend up to 0.25% of its average net
assets annually to finance any activity which is primarily intended to result
in the sale of fund shares, provided the fund's Board of Directors has approved
the category of expenses for which payment is being made. These include
service fees for qualified dealers and dealer commissions and wholesaler
compensation on sales of shares exceeding $1 million (including purchases by
any employer-sponsored 403(b) plan or purchases by any defined contribution
plan qualified under Section 401(a) of the Internal Revenue Code including a
"401(k)" plan with 200 or more eligible employees). Only expenses incurred
during the preceding 12 months and accrued while the Plan is in effect may be
paid by the fund. During the fiscal year ended February 29, 1996 the fund paid
$6,419,000 under the Plan. As of February 29, 1996, accrued and unpaid
distribution expenses were $1,586,000.
The Glass-Steagall Act and other applicable laws, among other things,
generally prohibit commercial banks from engaging in the business of
underwriting, selling or distributing securities, but permit banks to make
shares of mutual funds available to their customers and to perform
administrative and shareholder servicing functions. However, judicial or
administrative decisions or interpretations of such laws, as well as changes in
either federal or state statutes or regulations relating to the permissible
activities of banks or their subsidiaries of affiliates, could prevent a bank
from continuing to perform all or a part of its servicing activities. If a
bank were prohibited from so acting, shareholder clients of such bank would be
permitted to remain shareholders of the fund and alternate means for continuing
the servicing of such shareholders would be sought. In such event, changes in
the operation of the fund might occur and shareholders serviced by such bank
might no longer be able to avail themselves of any automatic investment or
other services then being provided by such bank. It is not expected that
shareholders would suffer with adverse financial consequences as a result of
any of these occurrences.
In addition, state securities laws on this issue may differ from the
interpretations of federal law expressed herein and certain banks and financial
institutions may be required to be registered as dealers pursuant to state law.
DIVIDENDS, DISTRIBUTIONS AND FEDERAL TAXES
The fund intends to meet all the requirements and has elected the tax
status of a "regulated investment company" under the provisions of Subchapter M
of the Internal Revenue Code of 1986 (the "Code"). Under Subchapter M, if the
fund distributes within specified times at least 90% of its investment company
taxable income (net investment income and the excess of net short-term capital
gains over net long-term capital losses) , it will be taxed only on the portion
of its investment company taxable income that it retains.
To qualify as a regulated investment company, the fund must (a) derive
at least 90% of its gross income from dividends, interest, certain payments
with respect to securities loans, and gains from the sale or other disposition
of stock, securities, currencies or other income derived with respect to its
business of investing in such stock, securities or currencies; (b) derive less
than 30% of its gross income from the sale or other disposition of stock or
securities held for less than three months; and (c) diversify its holdings so
that at the end of each fiscal quarter, (i) at least 50% of the market value of
the fund's assets is represented by cash, U.S. Government securities and other
securities which must be limited, in respect of any one issuer, to an amount
not greater than 5% of the fund's assets and 10% of the outstanding voting
securities of such issuer, and (ii) not more than 25% of the value of its
assets is invested in the securities of any one issuer (other than U.S.
Government securities or the securities of other regulated investment
companies), or in two or more issuers which the fund controls and which are
engaged in the same or similar trades or businesses or related trades or
businesses.
Under the Code, a nondeductible excise tax of 4% is imposed on the
excess of a regulated investment company's "required distribution" for the
calendar year ending within the regulated investment company's taxable year
over the "distributed amount" for such calendar year. The term "required
distribution" generally means the sum of (i) 98% of taxable net investment
income for the calendar year, (ii) 98% of capital gains (both long-term and
short-term) for the one-year period ending on October 31 (as though the
one-year period ending on October 31 were the regulated investment company's
taxable year), and (iii) the sum of any untaxed, undistributed taxable net
investment income and net capital gains of the regulated investment company for
prior periods. The term "distributed amount" generally means the sum of (i)
amounts distributed by the fund during the calendar year and (ii) any amount
on which the fund pays income tax during the periods described above. The fund
intends to distribute net investment income and net capital gains so as to
minimize or avoid the excise tax liability. Distributions of investment
company taxable income, including short-term capital gains, generally are
taxable to the shareholders as ordinary income, regardless of whether such
distributions are paid in cash or invested in additional shares of the fund's
stock.
The fund also intends to distribute to shareholders all of the excess
of net long-term capital gain over net short-term capital loss on sales of
securities ("capital gain distributions"). Such distributions will be taxable
to shareholders as long-term capital gains, regardless of how long a
shareholder has held fund shares. In particular, investors should consider the
tax implications of purchasing shares just prior to a dividend or capital gain
distribution record date.
The fund also intends to continue distributing to shareholders all of
the excess of net long-term capital gain over net short-term capital loss on
sales of securities. A capital gain distribution, whether paid in cash or
re-invested in shares, is taxable to shareholders as long-term capital gains,
regardless of the length a shareholder has held his shares or whether such gain
was realized by the fund before the shareholder acquired such shares and was
reflected in the price paid for the shares. If the net asset value of shares of
the fund should, by reason of a distribution of realized capital gains, be
reduced below a shareholder's cost, such distribution should, by reason of a
distribution of realized capital gains, be reduced below a shareholder's cost,
such distribution would be a taxable dividend to the shareholder, even though
the distribution is economically a return of capital.
Dividends and capital gain distributions generally are taxable to
shareholders at the time they are paid. However, such dividends and
distributions declared in October, November and December and made payable to
shareholders of record in such a month are treated as paid and are thereby
taxable as of December 31, provided that the fund pays the dividend and/or
capital gain distributions ano later than the end of January of the following
year.
If a shareholder exchanges or otherwise disposes of shares of the fund
within 90 days of having acquired such shares, and if, as a result of having
acquired those shares, the shareholder subsequently pays a reduced sales charge
for shares of the fund, or of a different fund, the sales charge previously
incurred in acquiring the fund's shares shall not be taken into account (to the
extent such previous sales charges do not exceed the reduction in sales
charges) for the purpose of determining the amount of gain or loss on the
exchange, but will be treated as having been incurred in the acquisition of
such other shares. Also, any loss realized on a redemption or exchange of
shares of a fund will be disallowed to the extent substantially identical
shares are reacquired within the 61-day period beginning 30 days before and
ending 30 days after the shares are disposed of.
As of the date of this statement of additional information, the
maximum federal individual stated tax rate applicable to ordinary income is
39.6% (effective tax rates may be higher for some individuals due to phase out
of exemptions and elimination of deductions); the maximum individual rate
applicable to net capital gain is 28%; and the maximum corporate tax rate
applicable to ordinary income and net capital gain is 35% (However, to
eliminate the benefit of lower marginal corporate income tax rates,
corporations which have income in excess of $100,000 for a taxable year will be
required to pay an additional income tax liability of up to $11,750 and
corporations which have taxable income in excess of $15,000,000 for a taxable
year will be required to pay an additional amount of tax of up to $100,000).
Naturally, the amount of tax payable by a taxpayer will be affected by a
combination of tax law rules covering, E.G., deductions, credits, deferrals,
exemptions, sources of income and other matters. Under the Code, an individual
is generally entitled to establish and contribute to an IRA each year without
regard to extension (prior to the tax return filing deadline for that year)
whereby earnings on investments are tax-deferred. In addition, in some cases,
the IRA contribution itself may be deductible.
The foregoing is limited to a summary discussion of federal taxation and
should not be viewed as a comprehensive discussion of all provisions of the
Code relevant to investors. Dividends and distributions may also be subject to
state or local taxes. Investors should consult their own tax advisers for
additional details as to their particular tax status.
PURCHASE OF SHARES
PRICE OF SHARES - Purchases of shares are made at the offering price next
determined after the purchase order is received by the fund or American Funds
Service Company; this offering price is effective for orders received prior to
the time of determination of the net asset value and, in the case of orders
placed with dealers, accepted by the Principal Underwriter prior to its close
of business. The dealer is responsible for promptly transmitting purchase
orders to the Principal Underwriter. Orders received by the investment dealer,
the Transfer Agent, or the fund after the time of the determination of the net
asset value will be entered at the next calculated offering price. Prices
which appear in the newspaper are not always indicative of prices at which you
will be purchasing and redeeming shares of the fund, since such prices
generally reflect the previous day's closing price whereas purchases and
redemptions are made at the next calculated price.
The price you pay for shares, the offering price, is based on the net
asset value per share which is calculated once daily at the close of trading
(currently 4:00 p.m., New York Time) each day the New York Stock Exchange is
open. The New York Stock Exchange is currently closed on weekends and on the
following holidays: New Year's Day, President's Day, Good Friday, Memorial
Day, Independence Day, Labor Day, Thanksgiving and Christmas Day. The net
asset value per share is determined as follows:
1. Stocks, and convertible bonds and debentures, traded on the New York
Stock Exchange are valued at the last sale price on such exchange on the day of
valuation, or if there is no sale on the day of valuation, at the last-reported
bid price. Non-convertible bonds and debentures, and other long-term debt
securities and U.S. Treasury notes normally are valued at prices obtained for
the day of valuation from a bond pricing service, when such prices are
available; however, in circumstances where the Investment Adviser deems it
appropriate to do so, an over-the-counter or exchange quotation may be used.
U.S. Treasury bills, and other short-term obligations issued or guaranteed by
the U.S. Government, its agencies or instrumentalities, certificates of deposit
issued by banks, corporate short-term notes and other short-term investments
with original or remaining maturities in excess of 60 days are valued at the
mean of representative quoted bid and asked prices for such securities or, if
such prices are not available, for securities of comparable maturity, quality
and type. Short-term securities with 60 days or less to maturity are amortized
to maturity based on their cost to the fund if acquired within 60 days of
maturity or, if already held by the fund on the 60th day, based on the value
determined on the 61st day. Other securities are valued on the basis of last
sale or bid prices in what is, in the opinion of the Investment Adviser, the
broadest and most representative market, which may be either a securities
exchange or the over-the-counter market. Where quotations are not readily
available, securities are valued at fair value as determined in good faith by
the Board of Directors. The fair value of all other assets is added to the
value of securities to arrive at the total assets;
2. There are deducted from the total assets, thus determined, the
liabilities, including accruals of taxes and other expense items; and
3. The net assets so obtained are then divided by the total number of
shares outstanding and the result, rounded to the nearer cent, is the net asset
value per share.
Any purchase order may be rejected by the Principal Underwriter or by the
fund. The fund will not knowingly sell shares (other than for the reinvestment
of dividends or capital gain distributions) directly or indirectly or through a
unit investment trust to any other investment company, person or entity, where,
after the sale, such investment company, person, or entity would own
beneficially directly, indirectly, or through a unit investment trust more than
3% of the outstanding shares of the fund without the consent of a majority of
the Board of Directors.
STATEMENT OF INTENTION - The reduced sales charges and offering prices set
forth in the Prospectus apply to purchases of $50,000 or more made within a
13-month period subject to the following statement of intention (the
"Statement") terms. The Statement is not a binding obligation to purchase the
indicated amount. When a shareholder elects to utilize the Statement in order
to qualify for a reduced sales charge, shares equal to 5% of the dollar amount
specified in the Statement will be held in escrow in the shareholder's account
out of the initial purchase (or subsequent purchases, if necessary) by the
Transfer Agent. All dividends and capital gain distributions on shares held in
escrow will be credited to the shareholder's account in shares (or paid in
cash, if requested). If the intended investment is not completed within the
specified 13-month period, the purchaser will remit to the Principal
Underwriter the difference between the sales charge actually paid and the sales
charge which would have been paid if the total of such purchases had been made
at a single time. If the difference is not paid within 45 days after written
request by the Principal Underwriter or the securities dealer, the appropriate
number of shares held in escrow will be redeemed to pay such difference. If
the proceeds from this redemption are inadequate, the purchaser will be liable
to the Principal Underwriter for the balance still outstanding. The Statement
may be revised upward at any time during the 13-month period, and such a
revision will be treated as a new Statement, except that the 13-month period
during which the purchase must be made will remain unchanged and there will be
no retroactive reduction of the sales charges paid on prior purchases.
Existing holdings eligible for rights of accumulation (see the prospectus and
account application) may be credited toward satisfying the Statement. During
the Statement period reinvested dividends and capital gain distributions,
investments in money market funds, and investments made under a right of
reinstatement will not be credited toward satisfying the Statement.
In the case of purchase orders by the trustees of certain retirement
plans by payroll deduction, the sales charge for the investments made during
the 13-month period will be handled as follows: The investment made the first
month of the 13-month period will be handled as follows: The regular monthly
payroll deduction investment will be multiplied by 13 and then multiplied by
1.5. The current value of existing American Funds investments (other than
money market fund investments) and any rollovers or transfers reasonably
anticipated to be invested in non-money market American Funds during the
13-month period are added to the figure determined above. The sum is the
Statement amount and applicable breakpoint level. On the first investment and
all other investments made pursuant to the statement of intention, a sales
charge will be assessed according to the sales charge breakpoint thus
determined. There will be no retroactive adjustments in sales charges on
investments previously made during the 13-month period.
Shareholders purchasing shares at a reduced sales charge under a
Statement indicate their acceptance of these terms with their first
purchase.
DEALER COMMISSIONS - The following commissions will be paid to dealers who
initiate and are responsible for purchases of $1 million or more, for purchases
by any employer-sponsored 403(b) plan or purchases by any defined contribution
plan qualified under Section 401(a) of the Internal Revenue Code including a
"401(k)" plan with 200 or more eligible employees, and for purchases made at
net asset value by certain retirement plans of organizations with collective
retirement plan assets of $100 million or more: 1.00% on amounts up to $2
million, 0.80% on amounts over $2 million to $3 million, 0.50% on amounts over
$3 million to $50 million, 0.25% on amounts over $50 million to $100 million,
and 0.15% on amounts over $100 million. The level of dealer commissions will
be determined based on sales made over a 12-month period commencing from the
date of the first sale at net asset value. See "The American Funds Shareholder
Guide" in the fund's Prospectus for more information.
SHAREHOLDER ACCOUNT SERVICES AND PRIVILEGES
AUTOMATIC INVESTMENT PLAN - The automatic investment plan enables
shareholders to make regular monthly or quarterly investments in shares through
automatic charges to their bank accounts. With shareholder authorization and
bank approval, the Transfer Agent will automatically charge the bank account
for the amount specified ($50 minimum), which will be automatically invested in
shares at the offering price on or about the 10th day of the month (or on or
about the 15th day of the month in the case of accounts for retirement plans
where Capital Guardian Trust Company serves as trustee or custodian.) Bank
accounts will be charged on the day or a few days before investments are
credited, depending on the bank's capabilities, and shareholders will receive a
confirmation statement at least quarterly. Participation in the plan will
begin within 30 days after receipt of the account application. If the
shareholder's bank account cannot be charged due to insufficient funds, a
stop-payment order or closing of your account, the plan may be terminated and
the related investment reversed. The shareholder may change the amount of the
investment or discontinue the plan at any time by writing the Transfer
Agent.
AUTOMATIC WITHDRAWALS - Withdrawal payments are not to be considered as
dividends, yield or income. Automatic investments may not be made into a
shareholder account from which there are automatic withdrawals. Withdrawals of
amounts exceeding reinvested dividends and distributions and increases in share
value would reduce the aggregate value of the shareholder's account. The
Transfer Agent arranges for the redemption by the fund of sufficient shares,
deposited by the shareholder with the Transfer Agent, to provide the withdrawal
payment specified.
CROSS-REINVESTMENT OF DIVIDENDS AND DISTRIBUTIONS - A shareholder in one fund
may elect to cross-reinvest dividends or dividends and capital gain
distributions paid by that fund (the "paying fund") into any other fund in The
American Funds Group (the "receiving fund") subject to the following
conditions: (i) the aggregate value of the shareholder's account(s) in the
paying fund(s) must equal or exceed $5,000 (this condition is waived if the
value of the account in the receiving fund equals or exceeds that fund's
minimum initial investment requirement), (ii) as long as the value of the
account in the receiving fund is below that fund's minimum initial investment
requirement, dividends and capital gain distributions paid by the receiving
fund must be automatically reinvested in the receiving fund, and (iii) if this
privilege is discontinued with respect to a particular receiving fund, the
value of the account in that fund must equal or exceed the fund's minimum
initial investment requirement or the fund shall have the right, if the
shareholder fails to increase the value of the account to such minimum within
90 days after being notified of the deficiency, automatically to redeem the
account and send the proceeds to the shareholder. These cross-reinvestments of
dividends and capital gain distributions will be at net asset value (without
sales charge).
REDEMPTION OF SHARES
The fund's Articles of Incorporation permit the fund to direct the
Transfer Agent to redeem the shares of any shareholder if the value of such
shares in the account of such holder is less than the minimum initial
investment amount applicable to that account as set forth in the fund's current
registration statement under the Investment Company Act of 1940, and subject to
such further terms and conditions as the Board of Directors of the Corporation
may from time to time adopt.
EXECUTION OF PORTFOLIO TRANSACTIONS
There are occasions on which portfolio transactions for the fund may be
executed as part of concurrent authorizations to purchase or sell the same
security for other funds served by the Investment Adviser, or for trusts or
other accounts served by affiliated companies of the Investment Adviser.
Although such concurrent authorizations potentially could be either
advantageous or disadvantageous to the fund, they are effected only when the
Investment Adviser believes that to do so is in the interest of the fund. When
such concurrent authorizations occur, the objective is to allocate the
executions in an equitable manner. The fund does not intend to pay a mark-up
in exchange for research in connection with principal transactions.
Brokerage commissions paid on portfolio transactions, including dealer
concessions on underwritings, for the fiscal years ended February 29, 1996,
February 28, 1995 and 1994 , amounted to $3,238,000, $1,092,000 and
$1,567,000, respectively.
GENERAL INFORMATION
CUSTODIAN OF ASSETS - Securities and cash owned by the fund, including proceeds
from the sale of shares of the fund and of securities in the fund's portfolio,
are held by The Chase Manhattan Bank, N.A., One Chase Manhattan Plaza, New
York, NY 10081, as Custodian.
INDEPENDENT ACCOUNTANTS - Deloitte & Touche LLP, 1000 Wilshire Boulevard, 15th
Floor, Los Angeles, CA 90017, has served as the fund's independent auditors
since its inception, providing audit services, preparation of tax returns and
review of certain documents to be filed with the Securities and Exchange
Commission. The financial statements incorporated in this Statement of
Additional Information by reference from the attached Annual Report, have been
so included in reliance on the independent auditors' report given on the
authority of said firm as experts in accounting and auditing. The selection of
the fund's independent accountant is reviewed and determined annually by the
Board of Directors.
REMOVAL OF DIRECTORS BY SHAREHOLDERS - At any meeting of shareholders, duly
called and at which a quorum is present, the shareholders may, by the
affirmative vote of the holders of a majority of the votes entitled to be cast
thereon, remove any director or directors from office and may elect a successor
or successors to fill any resulting vacancies for the unexpired terms of
removed directors. The fund has made an undertaking, at the request of the
staff of the Securities and Exchange Commission, to apply the provisions of
section 16(c) of the 1940 Act with respect to the removal of directors, as
though the fund were a common-law trust. Accordingly, the directors of the
fund shall promptly call a meeting of shareholders for the purpose of voting
upon the question of removal of any director when requested in writing to do so
by the record holders of not less than 10% of the outstanding shares.
REPORTS TO SHAREHOLDERS - The fund's fiscal year ends on the last day of
February. Shareholders are provided at least semi-annually with reports
showing the investment portfolio, financial statements and other information.
The fund's annual financial statements are audited by the fund's independent
accountants, Deloitte & Touche LLP.
PERSONAL INVESTING POLICY - Capital Research and Management Company and its
affiliated companies have adopted a personal investing policy consistent with
Investment Company Institute guidelines. This policy includes: a ban on
acquisitions of securities pursuant to an initial public offering; restrictions
on acquisitions of private placement securities; pre-clearance and reporting
requirements; review of duplicate confirmation statements; annual
recertification of compliance with codes of ethics; disclosure of personal
holdings by certain investment personnel prior to recommendation for purchase
for the fund; blackout periods on personal investing for certain investment
personnel; ban on short-term trading profits for investment personnel;
limitations on service as a director of publicly traded companies; and
disclosure of personal securities transactions.
The financial statements including the investment portfolio and the report
of Independent Auditors contained in the Annual Report are included in this
Statement of Additional Information. The following information is not included
in the Annual Report:
DETERMINATION OF NET ASSET VALUE, REDEMPTION PRICE AND
MAXIMUM OFFERING PRICE PER SHARE -- FEBRUARY 29, 1996
<TABLE>
<CAPTION>
<S> <C>
Net asset value and redemption price per share
(Net assets divided by shares outstanding) $14.40
Maximum offering price per share $15.28
(100/94.25 of net asset value per share, which takes
into account the fund's current maximum sales charge)
</TABLE>
INVESTMENT RESULTS
The fund's yield is 0.79% based on a 30-day (or one month) period
ended February 29, 1996, computed by dividing the net investment income per
share earned during the period by the maximum offering price per share on the
last day of the period, according to the following formula:
YIELD = 2[( a-b/cd + 1)/6/ -1]
Where: a = dividends and interest earned during the period.
b = expenses accrued for the period (net of reimbursements).
c = the average daily number of shares outstanding during the period that were
entitled to receive dividends.
d = the maximum offering price per share on the last day of the period.
As of February 29, 1996, the fund's total return over the past twelve
months and average annual total returns over the past 5 and 10-year periods
were 21.84%, 12.33% and 12.67%, respectively. The average total return ("T")
is computed by equating the value at the end of the period ("ERV") with a
hypothetical initial investment of $1,000 ("P") over a period of years ("n")
according to the following formula as required by the Securities and Exchange
Commission: P(1+T)/n/ = ERV.
The following assumptions will be reflected in computations made in
accordance with the formulas stated above: (1) deduction of the maximum sales
load of 5.75% from the $1,000 initial investment; (2) reinvestment of dividends
and distributions at net asset value on the reinvestment date determined by the
Board; and (3) a complete redemption at the end of any period illustrated. The
fund will calculate total return for one-, five- and ten-year periods. In
addition, the fund may provide lifetime average total return figures.
The fund may also, at times, calculate total return based on net asset
value per share (rather than the offering price), in which case the figure
would not reflect the effect of any sales charges which would have been paid if
shares were purchased during the period reflected in the computation.
Consequently, total return calculated in this manner will be higher. These
total returns may be calculated over periods in addition to those described
above. Total return for the unmanaged indices will be calculated assuming
reinvestment of dividends and interest, but will not reflect any deductions for
advisory fees, brokerage costs or administrative expenses.
The fund may include information on its investment results and/or
comparisons of its investment results to various unmanaged indices (such as The
Dow Jones Average of 30 Industrial Stocks and The Standard and Poor's 500
Composite Stock Index) or results of other mutual funds or investment or
savings vehicles in advertisements or in reports furnished to present or
prospective shareholders.
The fund may refer to results compiled by organizations such as CDA
Investment Technologies, Ibbottson Associates, Lipper Analytical Services,
Morningstar, Inc. and Wiesenberger Investment Companies Services.
Additionally, the fund may, from time to time, refer to results published in
various periodicals, including Barrons, Forbes, Fortune, Institutional
Investor, Kiplinger's Personal Finance Magazine, Money, U.S. News and World
Report and The Wall Street Journal.
The fund may from time to time illustrate the benefits of tax-deferral by
comparing taxable investments to investments made through tax-deferred
retirement plans.
The fund may also, from time to time, refer to statistics compiled by the
U.S. Department of Commerce.
The investment results set forth below were calculated as described in the
fund's prospectus. The fund's results will vary from time to time depending
upon market conditions, the composition of the fund's portfolio and operating
expenses of the fund, so that any investment results reported by the fund
should not be considered representative of what an investment in the fund may
earn in any future period. These factors and possible differences in
calculation methods should be considered when comparing the fund's investment
results with those published for other mutual funds, other investment vehicles
and unmanaged indices. The fund's results also should be considered relative
to the risks associated with the fund's investment objective and policies.
EXPERIENCE OF THE INVESTMENT ADVISER - Capital Research and Management
Company manages seven common stock funds that are at least 10 years old. In
the rolling 10-year periods during which those funds were managed by Capital
Research and Management Company since January 1, 1966 (121 in all), those funds
have had better total returns than the Standard and Poor's 500 Composite Stock
Index in 94 of the 121 periods.
Note that past results are not an indication of future investment results.
Also, the fund has different investment policies than the funds mentioned
above. These results are included solely for the purpose of informing
investors about the experience and history of Capital Research and Management
Company.
IF YOU ARE CONSIDERING AMCAP FOR AN INDIVIDUAL RETIREMENT ACCOUNT . . .
<TABLE>
<CAPTION>
Here's how much you would have if you had invested $2,000 on March 1 of each
year in AMCAP over the past 5, 10, 15 and 20 years:
<S> <C> <C> <C>
5 Years 10 Years 15 years 20 Years
(3/1/91 - 2/29/96) (3/1/86 - 2/29/96) (3/1/81 - 2/29/96) (3/1/76 - 2/29/96)
$14,311 $40,124 $95,457 $257,892
</TABLE>
SEE THE DIFFERENCE TIME CAN MAKE IN AN INVESTMENT PROGRAM
<TABLE>
<CAPTION>
If you had invested Periods ...and taken all
$10,000 in AMCAP 3/1 - 2/28 or 29 distributions in shares,
this many years ago... your investment would
| have been worth this
Number of Years much at Feb. 29, 1996
|
Value
<S> <C> <C>
1 1995-1996 $12,184
2 1994-1996 12,602
3 1993-1996 14,030
4 1992-1996 14,856
5 1991-1996 17,885
6 1990-1996 20,895
7 1989-1996 23,811
8 1988-1996 26,114
9 1987-1996 25,279
10 1986-1996 32,966
11 1985-1996 40,535
12 1984-1996 47,066
13 1983-1996 47,621
14 1982-1996 68,586
15 1981-1996 72,148
16 1980-1996 87,238
17 1979-1996 128,594
18 1978-1996 176,015
19 1977-1996 206,311
20 1976-1996 210,561
21 1975-1996 295,339
22 1974-1996 264,749
23 1973-1996 209,328
24 1972-1996 196,252
25 1971-1996 231,305
26 1970-1996 247,201
27 1969-1996 239,620
28 1968-1996 290,640
29 *1967-1996 310,345
</TABLE>
* From May 1, 1967, the date the fund commenced operation.
<TABLE>
<CAPTION>
AMCAP VS. VARIOUS UNMANAGED INDICES
TOTAL RETURN CAPITAL APPRECIATION
Period
3/1 - 2/28 or 29 AMCAP DJIA/1/ S&P 500/2/ Average Savings AMCAP NYSE/4/ ASE/5/ NASDAQ
Institution/3/ OTC/6/
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1986 - 1996 + 230% + 346% + 286% + 69% + 177% + 162% + 118% + 206%
1985 - 1995 + 214 + 343 + 274 + 77 + 161 + 152 + 99 + 179
1984 - 1994 + 252 + 382 + 322 + 88 + 186 + 187 + 124 + 214
1983 - 1993 + 220 + 348 + 331 + 99 + 156 + 186 + 118 + 156
1982 - 1992 + 335 + 505 + 440 + 112 + 242 + 249 + 213 + 253
1981 - 1991 + 280 + 364 + 322 + 122 + 184 + 167 + 104 + 129
1980 - 1990 + 294 + 387 + 347 + 125 + 194 + 182 + 133 + 169
1979 - 1989 + 409 + 356 + 369 + 125 + 282 + 201 + 301 + 226
1978 - 1988 + 535 + 366 + 389 + 125 + 381 + 211 + 370 + 262
1977 - 1987 + 669 + 304 + 360 + 125 + 487 + 199 + 484 + 349
1976 - 1986 + 502 + 201 + 270 + 123 + 361 + 145 + 398 + 298
1975 - 1985 + 587 + 198 + 261 + 119 + 422 + 144 + 489 + 289
1974 - 1984 + 430 + 130 + 165 + 113 + 304 + 75 + 332 + 168
1973 - 1983 + 315 + 98 + 113 + 106 + 219 + 42 + 235 + 118
1972 - 1982 + 170 + 47 + 66 + 95 + 111 + 10 + 99 + 43
1971 - 1981 + 202 + 79 + 108 + 85 + 147 + 41 + 204 + 95
1970 - 1980 + 167 + 76 + 92 + 79 + 120 + 30 + 158 N/A
1969 - 1979 + 76 + 38 + 45 + 75 + 45 - 2 + 8 N/A
1968 - 1978 + 56 + 33 + 41 + 72 + 30 - 3 N/A N/A
1967*- 1977 + 42 + 54 + 50 + 67 + 20 + 5 N/A N/A
</TABLE>
* From May 1, 1967, the date the fund commenced operation. N/A - Data for these
periods not available.
1. The Dow Jones Average of 30 Industrial stocks is comprised of 30 industrial
companies such as General Motors and General Electric.
2. The Standard and Poor's 500 Stock Index is comprised of industrial,
transportation, public utilities and financial stocks and represents a large
portion of the value of issues traded on the New York
Stock Exchange. Selected issues traded on the American Stock Exchange are also
included.
3. Based on figures supplied by the U.S. League of Savings Institutions and the
Federal Reserve Board which reflect all kinds of savings deposits, including
longer-term certificates. Savings deposits
offer a guaranteed return of principal and fixed rate of interest, but no
opportunity for capital growth. Maximum allowable rates were imposed by law
during a portion of the period.
4. The New York Stock Exchange Composite Index is a capitalization weighted
index of all common stocks listed on the exchange.
5. The American Stock Exchange Index is a capitalization weighted index of all
common stocks listed on the exchange.
6. The National Association of Securities Dealers Automated Quotation Composite
Index of Over-the-Counter Stocks represents all domestic over-the-counter
stocks except those traded on exchanges and those having only one market maker,
covers some 3,500 stocks and is market value weighted.
Illustration of a $10,000 investment in AMCAP with
DIVIDENDS REINVESTED AND CAPITAL GAIN DISTRIBUTIONS TAKEN IN SHARES
(For the lifetime of the Fund May 1, 1967 through February 29, 1996)
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
COST OF SHARES VALUE OF SHARES
Fiscal Annual Dividends Total From From From Total
Year End Dividends (cumulative) Investment Initial Capital Gains Dividends Value
Feb. 28 or 29 Cost Investment Reinvested Reinvested
1968* -- -- $10,000 $10,056 -- -- $ 10,056
1969 $ 75 $ 75 10,075 12,128 -- $ 84 12,212
1970 190 265 10,265 11,149 $ 430 256 11,835
1971 200 465 10,465 11,695 451 497 12,643
1972 244 709 10,709 13,540 522 840 14,902
1973 228 937 10,937 12,109 913 956 13,978
1974 196 1,133 11,133 8,493 1,697 847 11,037
1975 294 1,427 11,427 7,401 1,479 1,023 9,903
1976 328 1,755 11,755 10,075 2,014 1,794 13,883
1977 208 1,963 11,963 10,132 2,025 2,016 14,173
1978 263 2,226 12,226 11,657 2,330 2,625 16,612
1979 335 2,561 12,561 15,650 3,128 3,960 22,738
1980 438 2,999 12,999 22,674 4,531 6,336 33,541
1981 724 3,723 13,723 25,066 7,476 8,006 40,548
1982 2,594 6,317 16,317 22,185 10,812 9,646 42,643
1983 1,231 7,548 17,548 30,546 15,837 15,073 61,456
1984 1,591 9,139 19,139 30,094 15,602 16,432 62,128
1985 1,944 11,083 21,083 33,371 18,301 20,493 72,165
1986 1,548 12,631 22,631 38,983 23,855 25,900 88,738
1987 1,629 14,260 24,260 44,143 40,258 31,263 115,664
1988 3,017 17,277 27,277 39,058 42,406 30,573 112,037
1989 3,167 20,444 30,444 40,038 48,069 34,720 122,827
1990 3,160 23,604 33,604 40,942 60,465 38,620 140,027
1991 3,293 26,897 36,897 43,578 74,977 44,937 163,492
1992 2,156 29,053 39,053 49,831 93,202 53,823 196,856
1993 2,252 31,305 41,305 50,923 100,277 57,357 208,557
1994 1,918 33,223 43,223 48,889 126,209 57,039 232,137
1995 2,399 35,622 45,622 46,252 137,347 56,448 240,047
1996 3,363 38,985 48,985 54,237 186,287 69,821 310,345
</TABLE>
The dollar amount of capital gain distributions during the period was $136,252
* From May 1, 1967, the date the fund commenced operations.
AMCAP Fund Investment Portfolio
February 29, 1996
LARGEST INDUSTRY HOLDINGS
Broadcasting & Publishing 15.10%
Business & Public Services 14.83
Financial Services 6.93
Health & Personal Care 6.92
Electronic Components 6.60
Other Industries 36.36
Cash & Equivalents 13.26
LARGEST INDIVIDUAL COMMON STOCK HOLDINGS
Medtronic 3.73%
Time Warner 3.72
Federal National Mortagage 3.22
Capital Cities/ABC 3.02
PacifiCare Health Systems 2.55
Comcast 2.51
Philip Morris 2.24
Walt Disney 2.22
United HealthCare 2.21
Viacom 1.97
<TABLE>
<CAPTION>
Number Market Value Percent of
COMMON STOCKS of Shares (000) Net Assets
- ---------------------- -------- ------------ ----------
<S> <C> <C> <C>
BROADCASTING & PUBLISHING - 15.10%
Time Warner Inc. 3,216,000 $137,484 3.72%
Capital Cities/ABC, Inc. 855,000 111,578 3.02
Comcast Corp., Class A special stock 4,475,000 87,822
Comcast Corp., Class A 260,000 5,005 2.51
Viacom Inc., Class B/1/ 1,850,000 72,612 1.97
Tele-Communications, Inc., Series A,
TCI Group/1/ 2,714,000 56,994 1.54
Infinity Broadcasting Corp., Class A/1/ 622,500 25,678 .70
LIN Television Corp./1/ 629,050 21,545 .58
Tele-Communications, Inc., Series A,
Liberty Media Group/1/ 778,500 21,506 .58
A. H. Belo Corp. 500,000 17,500 .48
BUSINESS & PUBLIC SERVICES - 14.83%
PacifiCare Health Systems, Inc., Class B/1/ 855,000 80,370
PacifiCare Health Systems, Inc., Class A/1/ 150,000 13,950 2.55
United HealthCare Corp. 1,250,000 81,563 2.21
Pitney Bowes Inc. 1,375,000 66,344 1.80
Federal Express Corp./1/ 715,000 52,910 1.43
General Motors Corp., Class E 675,000 38,559 1.04
Manpower Inc. 1,150,000 36,081 .98
CUC International Inc./1/ 1,100,000 35,612 .96
Loewen Group Inc. (Canada) 1,200,000 34,200 .93
Avery Dennison Corp. 500,000 26,937 .73
Interpublic Group of Companies, Inc. 550,000 23,169 .63
First Data Corp. 250,000 17,313 .47
Humana Inc./1/ 600,000 14,700 .40
WMX Technologies, Inc. 405,000 11,543 .31#
Value Health, Inc./1/ 200,000 5,175 .14
American Management Systems, Inc./1/ 200,000 4,800 .13
Vivra Inc./1/ 150,000 4,425 .12
FINANCIAL SERVICES - 6.93%
Federal National Mortgage Assn. 3,760,000 118,910 3.22
Student Loan Marketing Assn. 700,000 57,837 1.57
Federal Home Loan Mortgage Corp. 343,600 28,347 .77
Capital One Financial Corp. 960,000 25,680 .69
ADVANTA Corp., Class B 450,000 20,250
ADVANTA Corp., Class A 100,000 4,775 .68
HEALTH & PERSONAL CARE - 6.92%
Medtronic, Inc. 2,400,000 137,700 3.73
Amgen Inc./1/ 800,000 47,800 1.30
Gillette Co. 500,000 27,062 .73
Pfizer Inc. 330,000 21,739 .59
Pyxis Corp./1/ 650,000 15,275 .41
Perrigo Co./1/ 425,000 5,950 .16
ELECTRONIC COMPONENTS - 6.60%
Intel Corp. 1,175,000 69,105 1.87
Seagate Technology/1/ 500,000 32,625 .88
Texas Instruments Inc. 600,000 29,925 .81
Bay Networks, Inc./1/ 425,000 18,966 .51
ADC Telecommunications, Inc./1/ 460,000 18,285 .50
AMP Inc. 400,000 17,050 .46
Analog Devices, Inc./1/ 618,750 16,629 .45
LSI Logic Corp./1/ 500,000 13,812 .38
Motorola, Inc. 200,000 10,850 .29
Linear Technology Corp. 225,000 10,462 .28
AVX Corp. 250,000 6,125 .17
DATA PROCESSING & REPRODUCTION - 5.57%
Solectron Corp./1/ 856,000 41,516 1.13
Sybase, Inc./1/ 1,134,200 35,586 .96
Digital Equipment Corp./1/ 350,000 25,200 .68
International Business Machines Corp. 175,000 21,459 .58
Electronic Arts/1/ 685,000 17,125 .46
Tandem Computers Inc./1/ 1,278,900 12,309 .33
Oracle Corp./1/ 220,000 11,440 .31
Apple Computer, Inc. 390,000 10,725 .29
Cisco Systems, Inc./1/ 200,000 9,500 .26
Informix Corp./1/ 225,000 7,931 .22
Sequent Computer Systems, Inc./1/ 560,000 6,580 .18
Silicon Graphics, Inc./1/ 250,000 6,250 .17
LEISURE & TOURISM - 5.18%
Walt Disney Co. 1,250,000 81,875 2.22
Harrah's Entertainment, Inc./1/ 1,240,000 33,635 .91
Brinker International, Inc./1/ 2,450,000 33,381 .90
Marriott International, Inc. 600,000 29,475 .80
Promus Hotel Corp./1/ 500,000 13,000 .35
BANKING - 4.78%
Norwest Corp. 1,400,000 51,100 1.38
Golden West Financial Corp. 1,000,000 50,625 1.37
Banc One Corp. 1,300,957 46,347 1.26
Northern Trust Corp. 400,000 21,100 .57
SunTrust Banks, Inc. 100,000 7,187 .20
BEVERAGES & TOBACCO - 4.36%
Philip Morris Companies Inc. 835,000 82,665 2.24
PepsiCo, Inc. 600,000 37,950 1.03
UST Inc. 1,050,000 37,275 1.01
Robert Mondavi Corp./1/ 100,000 2,950 .08
TELECOMMUNICATIONS - 4.03%
Telephone and Data Systems, Inc. 1,200,000 55,350 1.50
AirTouch Communications/1/ 1,250,000 38,750 1.05
MCI Communications Corp. 850,000 24,863 .67
Cellular Communications, Inc.,
preference shares/1/ 393,659 20,273 .55
AT&T Corp. 150,000 9,544 .26
CHEMICALS - 1.79%
Loctite Corp. 1,245,900 66,033 1.79
RECREATION & OTHER CONSUMER PRODUCTS - 1.75%
Duracell International Inc. 1,252,900 64,681 1.75
TRANSPORTATION: AIRLINES - 1.26%
Southwest Airlines Co. 550,250 16,920 .46
Delta Air Lines, Inc. 210,000 16,380 .44
AMR Corp./1/ 150,000 13,163 .36
MERCHANDISING - 1.19%
Toys "R" Us, Inc./1/ 800,000 19,100 .52
Wal-Mart Stores, Inc. 700,000 14,875 .40
Circuit City Stores, Inc. 200,000 5,925 .16
Staples, Inc./1/ 150,000 3,881 .11
FOOD & HOUSEHOLD PRODUCTS - 0.95%
Colgate-Palmolive Co. 450,000 35,212 .95
INSURANCE - 0.88%
American International Group, Inc. 337,500 32,611 .88
MACHINERY & ENGINEERING - 0.74%
Thermo Electron Corp./1/ 500,000 27,375 .74
TRANSPORTATION: RAIL - 0.63%
Wisconsin Central Transportation Corp./1/ 315,000 23,389 .63
ENERGY SOURCES - 0.54%
Helmerich & Payne, Inc. 600,000 20,100 .54
AEROSPACE & MILITARY TECHNOLOGY - 0.31%
General Motors Corp., Class H 200,000 11,450 .31
CONSTRUCTION & HOUSING - 0.12%
Jacobs Engineering Group Inc./1/ 150,000 4,275 .12
MISCELLANEOUS
Other common stocks in initial period of
acquisition 84,103 2.28
---------- -------
TOTAL COMMON STOCKS (cost: $1,972,243,000) 3,202,973 86.74
---------- -------
Principal
Amount
SHORT-TERM SECURITIES (000)
- - -------- ------------ ----------
CORPORATE SHORT-TERM NOTES - 10.17%
Pitney Bowes Credit Corp.
5.11%-5.34% due 3/8-4/10/96 51,900 51,641 1.40
IBM Credit Corp. 5.37% Due 3/13/96 43,730 43,645 1.18
PepsiCo, Inc. 5.18%-5.20% due 3/13-3/28/96 41,700 41,596 1.13
AT&T Corp. 5.29%-5.36% due 3/12-3/14/96 39,500 39,422 1.07
Bell Atlantic Network Funding Corp. 5.20%-5.22%
due 3/8-3/14/96 35,300 35,258 .95
Home Depot, Inc. 5.42% due 3/11/96 30,000 29,950 .81
Xerox Corp. 5.18%-5.34% due 3/18-3/20/96 26,500 26,427 .72
Hershey Foods Corp. 5.18%-5.32% due 3/4-3/29/96 24,000 23,969 .65
H.J. Heinz Co. 5.18% due 3/26-3/27/96 19,000 18,928 .51
Hewlett-Packard Co. 5.34% due 4/4/96 18,000 17,909 .49
Procter & Gamble Co. 5.09%-5.10% due 4/16-4/22/96 18,000 17,873 .48
Schering Corp. 5.18%-5.21% due 3/11-4/3/96 16,000 15,951 .43
Ford Motor Credit Co. 5.37% due 3/22/96 13,000 12,957 .35
FEDERAL AGENCY DISCOUNT NOTES - 4.25%
Federal Home Loan Bank
5.00%-5.33% due 3/1-5/22/96 84,900 84,422 2.29
Federal Home Loan Mortgage Corp.
4.99%-5.35% due 3/6-5/28/96 44,600 44,494 1.20
Federal National Mortgage Assn.
5.00%-5.02% due 5/17-5/24/96 28,400 28,078 .76
-------- -------
TOTAL SHORT-TERM SECURITIES (cost:
$532,528,000) 532,520 14.42
-------- -------
TOTAL INVESTMENT SECURITIES (cost:
$2,504,771,000) 3,735,493 101.16
Excess of payables over cash and receivables 42,663 1.16
------------ ----------
NET ASSETS $3,692,830 100.00%
============ ==========
</TABLE>
/1/ Non-income-producing securities.
See Notes to Financial Statements
Common stocks appearing in the portfolio
since August 31, 1995
- ---------------------------------
American Management Systems
AVX
Bay Networks
A. H. Belo
Brinker International
Circuit City Stores
Federal Home Loan Mortgage
First Data
Gillette
Informix
Linear Technology
Loewen Group
LSI Logic
Manpower
Robert Mondavi
Pfizer
Staples
Value Health
Vivra
Wal-Mart Stores
Wisconsin Central Transportation
Common stocks eliminated from the portfolio
since August 31, 1995
- -----------------------------------
Boston Scientific
Cellular Communications of Puerto Rico
Cincinnati Financial
Dow Jones
Dun & Bradstreet
Hasbro
Lands' End
LIN Broadcasting
Luby's Cafeterias
Nalco Chemical
Novell
PNC Bank
U.S. Healthcare
Upjohn
Worthington Industries
AMCAP FUND Financial Statements (dollars inthousands)
Statement of Assets and Liabilities
at February 29, 1996
<TABLE>
<CAPTION>
<S> <C> <C>
Assets:
Investment securities at market
(COST: $2,504,771) $3,735,493
Cash 126
Receivables for--
Sales of fund's shares $4,210
Dividends 2,327 6,537
-------- -----------
3,742,156
Liabilities:
Payables for--
Purchases of investments 42,467
Repurchases of fund's shares 3,928
Management services 1,161
Accrued expenses 1,770 49,326
-------- -----------
NET ASSETS AT FEBRUARY 29, 1996--
EQUIVALENT TO $14.40 PER SHARE ON
256,366,346 SHARES OF $1 PAR VALUE
capital stock outstanding (authorized
capital stock--300,000,000 shares) $3,692,830
===========
STATEMENT OF OPERATIONS FOR THE
YEAR ENDED FEBRUARY 29, 1996
Investment Income:
Income:
Dividends $ 29,163
Interest 33,329 $ 62,492
--------
Expenses:
Management services fee 13,418
Distribution expenses 6,419
Transfer agent fee 2,680
Reports to shareholders 181
Registration statement and prospectus 101
Postage, stationery and supplies 537
Directors' fees 108
Auditing and legal fees 48
Custodian fee 102
Taxes other than federal income tax 50
Other expenses 14 23,658
-------- -----------
Net investment income 38,834
-----------
Realized Gain and Unrealized
Appreciation on Investments:
Net realized gain 366,352
Net increase in unrealized
appreciation on investments:
Beginning of year 781,966
End of year 1,230,693
--------
Net unrealized appreciation
on investments 448,727
-----------
Net realized gain and unrealized
appreciation on investments 815,079
-----------
Net Increase in Net Assets Resulting
from Operations $ 853,913
===========
Statement of Changes in Net Assets
YEAR ENDED
FEBRUARY 29, 1996 FEBRUARY 28, 1995
Operations: -------- -----------
Net investment income $38,834 $33,784
Net realized gain on investments 366,352 131,656
Net unrealized appreciation (depreciation)
on investments 448,727 (72,698)
-------- -----------
Net increase in net assets resulting
from operations 853,913 92,742
-------- -----------
Dividends and Distributions
Paid to Shareholders:
Dividends from net investment income (40,721) (30,685)
Distributions from net realized
gain on investments (284,911) (222,989)
-------- -----------
Total dividends and distributions (325,632) (253,674)
-------- -----------
Capital Share Transactions:
Proceeds from shares sold:
36,019,892 AND 35,758,474
shares, respectively 492,283 435,956
Proceeds from shares issued in
reinvestment of net investment income
dividends and distributions of net
realized gain on investments:
22,741,455 and 19,996,561 shares,
respectively 305,933 237,314
Cost of shares repurchased:
44,261,999 and 49,806,739
shares, respectively (603,782) (605,581)
-------- -----------
Net increase in net assets
resulting from capital share transactions 194,434 67,689
-------- -----------
Total Increase (Decrease) in Net Assets 722,715 (93,243)
Net Assets
Beginning of year 2,970,115 3,063,358
-------- -----------
End of year (including undistributed
NET INVESTMENT INCOME OF $5,772 AND
$7,659, RESPECTIVELY) $3,692,830 $2,970,115
======== ===========
</TABLE>
See Notes to Financial Statements
NOTES TO FINANCIAL STATEMENTS
1. AMCAP Fund, Inc. (the "fund") is registered under the Investment Company
Act of 1940 as an open-end, diversified management investment company. The fund
seeks long-term growth of capital by investing in growing, profitable
companies. The following paragraphs summarize the significant accounting
policies consistently followed by the fund in the preparation of its financial
statements:
Common stocks traded on a national securities exchange (or reported on the
NASDAQ national market) and securities traded in the over-the-counter market
are stated at the last reported sales price on the day of valuation; other
securities, and securities for which no sale was reported on that date, are
stated at the last quoted bid price. Short-term securities with original or
remaining maturities in excess of 60 days are valued at the mean of their
quoted bid and asked prices. Short-term securities with 60 days or less to
maturity are valued at amortized cost, which approximates market value.
Securities for which market quotations are not readily available are valued at
fair value as determined in good faith by the Valuation Committee of the Board
of Directors.
As is customary in the mutual fund industry, securities transactions are
accounted for on the date the securities are purchased or sold. Realized gains
and losses from securities transactions are reported on an identified cost
basis. Dividend and interest income is reported on the accrual basis. Discounts
on securities purchased are amortized over the life of the respective
securities. The fund does not amortize premiums on securities purchased.
Dividends and distributions paid to shareholders are recorded on the
ex-dividend date.
Pursuant to the custodian agreement, the fund receives credits against
its custodian fee for imputed interest on certain balances with the custodian
bank. The custodian fee of $102,000 includes $15,000 that was paid by these
credits rather than in cash.
2. It is the fund's policy to continue to comply with the requirements of the
Internal Revenue Code applicable to regulated investment companies and to
distribute all of its net taxable income, including any net realized gain on
investments, to its shareholders. Therefore, no federal income tax provision is
required.
As of February 29, 1996, net unrealized appreciation on investments for
book and federal income tax purposes aggregated $1,230,722,000, of which
$1,272,052,000 related to appreciated securities and $41,330,000 related to
depreciated securities. There was no difference between book and tax realized
gains on securities transactions for the year ended February 29, 1996. The cost
of portfolio securities for book and federal income tax purposes was
$2,504,771,000 at February 29, 1996.
3. The fee of $13,418,000 for management services was paid pursuant to an
agreement with Capital Research and Management Company(CRMC), with which
certain officers and Directors of the fund are affiliated. The Investment
Advisory and Service Agreement provides for monthly fees, accrued daily, based
on an annual rate of 0.485% of the first $1 billion of average net assets;
0.385% of such assets in excess of $1 billion but not exceeding $2 billion;
0.355% of such assets in excess of $2 billion but not exceeding $3 billion;
0.335% of such assets in excess of $3 billion but not exceeding $5 billion;
0.32% of such assets in excess of $5 billion but not exceeding $8 billion; and
0.31% of such assets in excess of $8 billion.
Pursuant to a Plan of Distribution, the fund may expend up to 0.25% of its
average net assets annually for any activities primarily intended to result in
sales of fund shares, provided the categories of expenses for which
reimbursement is made are approved by the fund's Board of Directors. Fund
expenses under the Plan include payments to dealers to compensate them for
their selling and servicing efforts. During the year ended February 29, 1996,
distribution expenses under the Plan were $6,419,000. As of February 29, 1996,
accrued and unpaid distribution expenses were $1,586,000.
American Funds Service Company (AFS), the transfer agent for the fund,
was paid a fee of $2,680,000. American Funds Distributors, Inc. (AFD), the
principal underwriter of the fund's shares, received $747,000 (after allowances
to dealers) as its portion of the sales charges paid by purchasers of the
fund's shares. Such sales charges are not an expense of the fund and, hence,
are not reflected in the accompanying statement of operations.
Directors of the fund who are unaffiliated with CRMC may elect to defer
part or all of the fees earned for services as members of the Board. Amounts
deferred are not funded and are general unsecured liabilities of the fund. As
of February 29, 1996, aggregate amounts deferred and earnings thereon were
$175,000.
CRMC is owned by The Capital Group Companies, Inc. AFS and AFD are both
wholly owned subsidiaries of CRMC. Certain Directors and officers of the fund
are or may be considered to be affiliated with CRMC, AFS, and AFD. No such
persons received any remuneration directly from the fund.
4. As of February 29, 1996, accumulated undistributed net realized gain on
investments was $121,704,000 and additional paid-in capital was $2,078,295,000.
The fund made purchases and sales of investment securities, excluding
short-term securities, of $977,506,000 and $1,040,969,000, respectively, during
the year ended February 29, 1996.
Tax Information (unaudited)
We are required to advise you within 60 days of the fund's fiscal year-end
regarding the federal tax status of distributions received by shareholders
during such fiscal year.
Corporate shareholders may exclude up to 70% of qualifying dividends received
during the year. For purposes of computing this exclusion, 54% of the dividends
paid by the fund from net investment income represents qualifying dividends.
Dividends and distributions received by retirement plans such as IRAs,
Keogh-type plans, and 403(b) plans need not be reported as taxable income.
However, many plan retirement trusts may need this information for their annual
information reporting.
AMCAP FUND
Per-Share Data and Ratios
<TABLE>
<CAPTION>
Year ended February 28 or 29
1996 1995 1994 1993 1992
<S> <C> <C> <C> <C> <C>
Net Asset Value, Beginning
of Year $12.28 $12.98 $13.52 $13.23 $11.57
- - - - -
Income from Investment
Operations:
Net investment income .16 .14 .12 .13 .17
Net realized and unrealized
gain on investments 3.32 .24 1.28 .63 2.10
- - - - -
Total income from investment
operations 3.48 .38 1.40 .76 2.27
- - - - -
Less Distributions:
Dividends from net investment
income (.17) (.13) (.12) (.15) (.15)
Distributions from net realized
gains (1.19) (.95) (1.82) (.32) (.46)
- - - - -
Total distributions (1.36) (1.08) (1.94) (.47) (.61)
- - - - -
Net Asset Value, End of Year $14.40 $12.28 $12.98 $13.52 $13.23
= = = = =
Total Return* 29.29% 3.41% 11.31% 5.94% 20.41%
Ratios/Supplemental Data:
Net assets, end of year (in
millions) $3,693 $2,970 $3,063 $3,016 $2,796
Ratio of expenses to average
net assets .71% .71% .72% .73% .75%
Ratio of net income to
average net assets 1.16% 1.16% .89% 1.02% 1.37%
Portfolio turnover rate 35.16% 17.92% 22.18% 14.72% 7.74%
</TABLE>
* Calculated without deducting a sales charge. The maximum sales charge is
5.75% of thefund's offering price.
Independent Auditors' Report
To the Board of Directors and Shareholders of AMCAP Fund, Inc.:
We have audited the accompanying statement of assets and liabilities of
AMCAP Fund, Inc.(the "fund"), including the schedule of portfolio investments,
as of February 29, 1996, and the related statement of operations for the year
then ended, the statement of changes in net assets for each of the two years in
the period then ended, and the per-share data and ratios for each of the five
years in the period then ended. These financial statements and per-share data
and ratios are the responsibility of the fund's management. Our responsibility
is to express an opinion on these financial statements and the per-share data
and ratios based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements and the per-share
data and ratios are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the
financial statements. Our procedures include confirmation of securities owned
at February 29, 1996 by correspondence with the custodian and brokers; where
replies were not received from brokers, we performed other procedures. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements and per-share data and ratios
referred to above present fairly, in all material respects, the financial
position of AMCAP Fund, Inc. at February 29, 1996, the results of its
operations for the year then ended, the changes in its net assets for each of
the two years in the period then ended, and the per-share data and ratios for
each of the five years in the period then ended, in conformity with generally
accepted accounting principles.
DELOITTE & TOUCHE LLP
Los Angeles, California
March 21, 1996
PART C
OTHER INFORMATION
ITEM 24. FINANCIAL STATEMENTS AND EXHIBITS
(A) FINANCIAL STATEMENTS:
Included in Prospectus - Part A
Financial Highlights
Included in Statement of Additional Information - Part B
Investment Portfolio
Statement of Assets and Liabilities
Statement of Operations
Statement of Changes in Net Assets
Notes to Financial Statements
Per-Share Data and Ratios
Independent Auditors' Report
(B) EXHIBITS:
1. On file (see SEC file numbers 811-1435 and 2-26516)
2. On file (see SEC file numbers 811-1435 and 2-26516)
3. None.
4. On file (see SEC file numbers 811-1435 and 2-26516)
5. On file (see SEC file numbers 811-1435 and 2-26516)
6. On file (see SEC file numbers 811-1435 and 2-26516)
7. None.
8. On file (see SEC file numbers 811-1435 and 2-26516)
9. On file (see SEC file numbers 811-1435 and 2-26516)
10. Not applicable to this filing.
11. Consent of Independent Accountants
12. None.
13. On file (see SEC file numbers 811-1435 and 2-26516)
14. On file (see SEC file numbers 811-1435 and 2-26516)
15. On file (see SEC file numbers 811-1435 and 2-26516)
16. Updates to previously filed schedule for computation of each performance
quotation provided in the Registration Statement in response to Item 22 (see
SEC file numbers 811-1435 and 2-26516)
17. Financial data schedule (EDGAR)
ITEM 25. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH REGISTRANT.
None.
ITEM 26. NUMBER OF HOLDERS OF SECURITIES.
As of February 29, 1996.
<TABLE>
<CAPTION>
Title of Class Number of Record-Holders
<S> <C>
Capital Stock 216,475
($1.00 par value)
</TABLE>
ITEM 27. INDEMNIFICATION.
The registrant is a joint-insured under Investment Adviser/Mutual
Fund Errors and Omissions Policy written by American International Surplus
Lines Insurance Company, Chubb Custom Insurance Company, and ICI Mutual
Insurance Company which insures its officers and directors against certain
liabilities.
ARTICLE VIII (H) AND (I) OF THE ARTICLES OF INCORPORATION OF THE FUND PROVIDES
THAT:
(h) "The Corporation shall indemnify (1) its directors and officers,
whether serving the Corporation or at its request any other entity, to the full
extent provided by the General Laws of the State of Maryland now or hereafter
in force, including the advance of expenses under the procedures and to the
full extent permitted by law; and (2) its other employees and agents to such
extent as shall be authorized by the Board of Directors or the Corporation's
By-Laws and be permitted by law. The foregoing rights of indemnification shall
not be exclusive of any other rights to which those seeking indemnification may
be entitled. The Board of Directors may take such action as is necessary to
carry out these indemnification provisions and is expressly empowered to adopt,
approve and amend from time to time such by-laws, resolutions or contracts
implementing such provisions or such further indemnification arrangements as
may be permitted by law. No amendment of this Charter of the Corporation shall
limit or eliminate the right to indemnification provided hereunder with respect
to acts or omissions occurring prior to such amendment or repeal. Nothing
contained herein shall be construed to authorize the Corporation to indemnify
any director or officer of the Corporation against any liability to the
Corporation or to any holders of securities of the Corporation to which he is
subject by reason of willful misfeasance, bad faith, gross negligence, or
reckless disregard of the duties involved in the conduct of his office. Any
indemnification by the Corporation shall be consistent with the requirements of
law, including the Investment Company Act of 1940."
(i) To the fullest extent permitted by Maryland statutory and decisional
law and the 1940 Act, as amended or interpreted, no director or officer of the
Corporation shall be personally liable to the Corporation or its stockholders
for money damages; provided, however, that nothing herein shall be construed to
protect any director or officer of the Corporation against any liability, to
which such director or officer would otherwise be subject by reason of willful
misfeasance, bad faith, gross ITEM 27. INDEMNIFICATION (CONT.)
negligence, or reckless disregard of the duties involved in the conduct of his
office. No amendment, modification or repeal of this Article VIII shall
adversely affect any right or protection of a director or officer that exists
at the time of such amendment, modification or repeal."
Subsection (b) of Section 2-418 of the GENERAL CORPORATION LAW OF MARYLAND
empowers a corporation to indemnify any person who was or is party or is
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of the corporation)
by reason of the fact that he is or was a director, officer, employee or agent
of the corporation or is or was serving at the request of
the corporation as a director, officer, employee or agent of another
corporation or enterprise, against reasonable expenses (including attorneys'
fees), judgments, penalties, fines and amounts paid in settlement actually
incurred by him in connection with such action, suit or proceeding unless it is
proved that: (i) the act or omission of the person was material to the cause
of action adjudicated in the proceeding and was committed in bad faith or was
the result of active and deliberate dishonesty; (ii) the person actually
received an improper personal benefit of money, property or services; or (iii)
with respect to any criminal action or proceeding, the person had reasonable
cause to believe his act or omission was unlawful.
Indemnification under subsection (b) of Section 2-418 may not be made by a
corporation unless authorized for a specific proceeding after a determination
has been made that indemnification is permissible in the circumstances because
the party to be indemnified has met the standard of conduct set forth in
subsection (b). This determination shall be made (i) by the Board of Directors
by a majority vote of a quorum consisting of directors not, at the time,
parties to the proceeding, or, if such quorum cannot be obtained, then by a
majority vote of a committee of the Board consisting solely of two or more
directors not, at the time, parties to such proceeding and who were duly
designated to act in the matter by a majority vote of the full Board in which
the designated directors who are parties may participate; (ii) by special legal
counsel selected by the Board of Directors of a committee of the Board by vote
as set forth in subparagraph (i), or, if the requisite quorum of the full Board
cannot be obtained therefor and the committee cannot be established, by a
majority vote of the full Board in which any director who is a party may
participate; or (iii) by the stockholders (except that shares held by any party
to the specific proceeding may not be voted). A court of appropriate
jurisdiction may also order indemnification if the court determines that a
person seeking indemnification is entitled to reimbursement under subsection
(b).
Section 2-418 further provides that indemnification provided for by
Section 2-418 shall not be deemed exclusive of any rights to which the
indemnified party may be entitled; that the scope of indemnification extends to
directors, officers, employees or agents of a constituent corporation
absorbedin a consolidation or merger and persons serving in that capacity at
the request of the constituent corporation for another; and empowers the
corporation to purchase and maintain insurance on behalf of a director,
officer, employee or agent of the corporation against any liability asserted
against or incurred by such person in any such capacity or arising out of such
person's status as such whether or not the corporation would have the power to
indemnify such person against such liabilities under Section 2-418.
ITEM 28. BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISER.
None.
ITEM 29. PRINCIPAL UNDERWRITERS.
(a) American Funds Distributors, Inc. is also the Principal Underwriter of
shares of: American Balanced Fund, Inc., The American Funds Income Series, The
American Funds Tax-Exempt Series I, The American Funds Tax-Exempt Series II,
American High-Income Municipal Bond Fund, Inc., American High-Income Trust,
American Mutual Fund, Inc., The Bond Fund of America, Inc., Capital Income
Builder, Inc., Capital World Bond Fund, Inc., Capital World Growth and Income
Fund, Inc., The Cash Management Trust of America, EuroPacific Growth Fund,
Fundamental Investors, Inc., The Growth Fund of America, Inc., The Income Fund
of America,Inc., Intermediate Bond Fund of America, The Investment Company of
America, Limited Term Tax-Exempt Bond Fund of America, The New Economy Fund,
New Perspective Fund, Inc., SMALLCAP World Fund, Inc., The Tax-Exempt Bond Fund
of America, Inc., The Tax-Exempt Money Fund of America, The U.S. Treasury Money
Fund of America and Washington Mutual Investors Fund, Inc.
<TABLE>
<CAPTION>
(B) (1) (2) (3)
Name and Principal Positions and Offices Positions and Offices
Business Address with Underwriter with Registrant
<S> <C> <C> <C>
# David A. Abzug Assistant Vice President None
John A. Agar Regional Vice President None
1501 N. University Drive
Little Rock, AR 72207
Robert B. Aprison Regional Vice President None
2983 Bryn Wood Drive
Madison, WI 53711
% Richard Armstrong Assistant Vice President None
* William W. Bagnard Vice President None
Steven L. Barnes Vice President None
8000 Town Line Avenue South
Suite 204
Minneapolis, MN 55438
Michelle A. Bergeron Regional Vice President None
1190 Rockmart Circle
Kennesaw, GA 30144
Joseph T. Blair Vice President None
27 Drumlin Road
West Simsbury, CT 06092
John A. Blanchard Regional Vice President None
6421 Aberdeen Road
Mission Hills, KS 66208
Ian B. Bodell Senior Vice President None
3100 West End Ave., Suite 870
Nashville, TN 37215
Michael L. Brethower Vice President None
108 Hagen Court
Georgetown, TX 78628
C. Alan Brown Regional Vice President None
4619 McPherson Avenue
St. Louis, MO 63108
* Daniel C. Brown Director and Senior Vice President None
@ J. Peter Burns Vice President None
Brian C. Casey Regional Vice President None
9508 Cable Drive
Kensington, MD 20895
Victor C. Cassato Vice President None
999 Green Oaks Drive
Littleton, CO 80121
Christopher J. Cassin Regional Vice President None
231 Burlington
Clarendon Hills, IL 60514
Denise M. Cassin Regional Vice President None
1425 Vallejo #203
San Francisco, CA 91109
* Larry P. Clemmensen Treasurer and Director None
* Kevin G. Clifford Senior Vice President None
Ruth M. Collier Vice President None
145 West 67th Street, 12K
New York, NY 10023
Thomas E. Cournoyer Vice President None
2333 Granada Boulevard
Coral Gables, FL 33134
Douglas A. Critchell Vice President None
4116 Woodbine St.
Chevy Chase, MD 20815
* Carl D. Cutting Vice President None
Michael A. Dilella Vice President None
P.O. Box 661
Ramsey, NJ 07446
G. Michael Dill Senior Vice President None
3622 E. 87th Street
Tulsa, OK 74137
Kirk D. Dodge Regional Vice President None
2617 Salisbury Road
Ann Arbor, MI 48103
Peter J. Doran Senior Vice President None
1205 Franklin Avenue
Garden City, NY 11530
* Michael J. Downer Secretary None
Robert W. Durbin Vice President None
74 Sunny Lane
Tiffin, OH 44883
& Lloyd G. Edwards Vice President None
* Paul H. Fieberg Senior Vice President None
John Fodor Regional Vice President None
15 Latisquama Road
Southborough, MA 01722
* Mark P. Freeman, Jr. President and Director None
Clyde E. Gardner Vice President None
Route 2, Box 3162
Osage Beach, MO 65065
# Evelyn K. Glassford Vice President None
Jeffrey J. Greiner Regional Vice President None
5898 Heather Glen Court
Dublin, OH 43017
* Paul G. Haaga, Jr. Director Senior Vice President
David E. Harper Vice President None
R.D. 1, Box 210, Rte. 519
Frenchtown, NJ 08825
Ronald R. Hulsey Regional Vice President None
6744 Avalon
Dallas, TX 75214
* Robert L. Johansen Vice President and Controller None
Michael J. Johnston Chairman of the Board None
630 Fifth Ave., 36th Floor
New York, NY 10111-0121
V. John Kriss Senior Vice President None
P.O. Box 274
Surfside, CA 90743
Arthur J. Levine Vice President None
12558 Highlands Place
Fishers, IN 46038
# Karl A. Lewis Assistant Vice President None
T. Blake Liberty Regional Vice President None
12585-E East Tennessee Circle
Aurora, CO 80012
* Susan G. Lindgren Vice President - Institutional None
Investment Services Division
Steve A. Malbasa Regional Vice President None
13405 Lake Shore Blvd.
Cleveland, OH 44110
Steven M. Markel Vice President None
5241 South Race Street
Littleton, CO 90121
* John C. Massar Senior Vice President None
* E. Lee McClennahan Senior Vice President None
Laurie B. McCurdy Regional Vice President None
6008 E. Anderson Drive
Scottsdale, AZ 85255
& John V. McLaughlin Senior Vice President None
Terry W. McNabb Vice President None
2002 Barrett Station Road
St. Louis, MO 63131
* R. William Melinat Vice President - Institutional None
Investment Services Division
David R. Murray Regional Vice President None
25701 S.E. 32nd Place
Issaquah, WA 98027
Stephen S. Nelson Vice President None
7215 Trevor Court
Charlotte, NC 28226
* Barbara G. Nicholich Assistant Vice President - None
Institutional Investment
Services Division
William E. Noe Regional Vice President None
304 River Oaks Road
Brentwood, TN 37027
Peter A. Nyhus Regional Vice President None
3084 Wilds Ridge Court
Prior Lake, MN 55372
Eric P. Olson Regional Vice President None
62 Park Drive
Glenview, IL 60025
Fredric Phillips Regional Vice President None
32 Ridge Avenue
Newton Centre, MA 02159
# Candance D. Pilgrim Assistant Vice President None
Carl S. Platou Regional Vice President None
4021 96th Avenue, SE
Mercer Island, WA 98040
* John O. Post, Jr. Vice President None
Steven J. Reitman Vice President None
212 The Lane
Hinsdale, IL 60521
Brian A. Roberts Regional Vice President None
12025 Delmahoy Drive
Charlotte, NC 28277
George S. Ross Vice President None
55 Madison Avenue
Morristown, NJ 07962
* Julie D. Roth Vice President None
* James F. Rothenberg Director None
Douglas F. Rowe Regional Vice President None
30309 Oak Tree Drive
Georgetown, TX 78628
Christopher Rowey Regional Vice President None
9417 Beverlywood Street
Los Angeles, CA 90034
Dean B. Rydquist Vice President None
1080 Bay Pointe Crossing
Alpharetta, GA 30202
Richard R. Samson Vice President None
4604 Glencoe, Ave., No. 4
Marina del Rey, CA 90292
Joe D. Scarpitti Regional Vice President None
25760 Kensington Drive
Westlake, OH 44145
* R. Michael Shanahan Director President and Director
David W. Short Senior Vice President None
1000 RIDC Plaza, Suite 212
Pittsburgh, PA 15238
* Victor S. Sidhu Vice President - Institutional None
Investment Services Division
William P. Simon, Jr. Vice President None
554 Canterbury Lane
Berwyn, PA 19312
* John C. Smith Assistant Vice President - None
Institutional Investment
Services Division
* Mary E. Smith Assistant Vice President, None
Institutional Investment
Services Division
Rodney G. Smith Regional Vice President None
2350 Lakeside Blvd., #850
Richardson, TX 75082
Nicholas D. Spadaccini Regional Vice President None
855 Markley Woods Way
Cincinnati, OH 45230
Daniel S. Spradling Senior Vice President None
#4 West Fourth Avenue, Suite 406
San Mateo, CA 94402
Thomas A. Stout Regional Vice President None
2603 Kresson Place
Bowie, MD 20715
Craig R. Strauser Regional Vice President None
17040 Summer Place
Lake Oswego, OR 97035
Francis N. Strazzeri Regional Vice President None
31641 Saddletree Drive
Westlake Village, CA 91361
% James P. Toomey Assistant Vice President None
& Christopher E. Trede Assistant Vice President None
George F. Truesdail Vice President None
400 Abbotsford Court
Charlotte, NC 28270
Scott W. Ursin-Smith Regional Vice President None
606 Glenwood Avenue
Mill Valley, CA 94941
@ Andrew J. Ward Vice President None
* David M. Ward Assistant Vice President - None
Institutional Investment
Services Division
Thomas E. Warren Regional Vice President None
4001 Crockers Lake Blvd., #1012
Sarasota, FL 34238
* J. Kelly Webb Senior Vice President None
Gregory J. Weimer Regional Vice President None
125 Surrey Drive
Canonsburg, PA 15317
# Timothy W. Weiss Director None
** N. Dexter Williams Vice President None
Timothy J. Wilson Regional Vice President None
113 Farmview Place
Venetia, PA 15367
@ Marshall D. Wingo Senior Vice President None
* Robert L. Winston Director and Senior Vice President None
William R. Yost Regional Vice President None
9320 Overlook Trail
Eden Prairie, MN 55347
Janet M. Young Regional Vice President None
1616 Vermont
Houston, TX 77006
</TABLE>
* Business Address, 333 South Hope Street, Los Angeles, CA 90071
** Business Address, Four Embarcadero Center, Suite 1800, San Francisco, CA
94111
# Business Address, 135 South State College Blvd., Brea, CA 92621
% Business Address, 8000 IH-10 West, Suite 1400, San Antonio, TX 78230
@ Business Address, 5300 Robin Hood Road, Norfolk, VA 23513
& Business Address, 8332 Woodfield Crossing Blvd., Indianapolis, IN 46240
(c) None.
ITEM 30. LOCATION OF ACCOUNTS AND RECORDS.
Accounts, books and other records required by Rules 31a-1 and 31a-2 under
the Investment Company Act of 1940, as amended, are maintained and kept in the
offices of the Fund and its investment adviser, Capital Research and Management
Company, 333 South Hope Street, Los Angeles, CA 90071. Certain accounting
records are maintained and kept in the offices of the Fund's accounting
department, 135 South State College Blvd., Brea, CA 92621.
Records covering shareholder accounts are maintained and kept by the
transfer agent, American Funds Service Company, 135 South State College Blvd.,
Brea, CA 92621, 8000 IH-10 West, Suite 1400, San Antonio, TX 78230, 5300
Robin Hood Road, Norfolk, VA 23514, and 8332 Woodfield Crossing Boulevard,
Indianapolis, Indiana 46240.
Records covering portfolio transactions are also maintained and kept by
the custodian, The Chase Manhattan Bank, N.A., One Chase Manhattan Plaza, New
York, New York, 10081.
ITEM 31. MANAGEMENT SERVICES.
None.
ITEM 32. UNDERTAKINGS.
(c) As reflected in the prospectus, the fund undertakes to provide each
person to whom a prospectus is delivered with a copy of the fund's latest
annual report to shareholders, upon request and without charge.
SIGNATURE OF REGISTRANT
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant certifies that it meets all of
the requirements for effectiveness of this Registration Statement pursuant to
Rule 485(b) under the Securities Act of 1933 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Los Angeles, and State of California, on the
24th day of April, 1996.
AMCAP FUND, INC.
By:/s/ Walter P. Stern
Walter P. Stern, Chairman of the Board
Pursuant to the requirements of the Securities Act of 1933, this amendment
to Registration Statement has been signed below on April 24, 1996, by the
following persons in the capacities indicated.
<TABLE>
<CAPTION>
SIGNATURE TITLE
<S> <C> <C>
(1) Principal Executive Officer:
/s/ R. Michael Shanahan President and Director
R. Michael Shanahan
(2) Principal Financial Officer and
Principal Accounting Officer:
/s/ Mary C. Hall Treasurer
Mary C. Hall
(3) Directors:
Guilford C. Babcock* Director
Charles H. Black* Director
Martin Fenton, Jr.* Director
Gail L. Neale* Director
Kirk P. Pendleton* Director
Henry E. Riggs* Director
/s/ R. Michael Shanahan
R. Michael Shanahan President and Director
/s/ Walter P. Stern
Walter P. Stern Chairman of the Board
Charles Wolf, Jr.* Director
</TABLE>
*By /s/ Julie F. Williams
Julie F. Williams, Attorney-in-Fact
Counsel reports that the amendment does not contain disclosures that would
make the amendment ineligible for effectiveness under the provisions of rule
485(b).
/s/ Michele Y. Yang
Michele Y. Yang
C-13
CONSENT OF INDEPENDENT AUDITORS
AMCAP Fund, Inc.
We consent to (a) the use in this Post-Effective Amendment No. 59 to
Registration Statement No. 2-26516 on Form N-1A of our report dated March 21,
1996 appearing in the Financial Statements, which are included in Part B, the
Statement of Additional Information of such Registration Statement, (b) the
reference to us under the heading "General Information" in such Statement of
Additional Information and (c) the reference to us under the heading "Financial
Highlights" in the Prospectus, which is a part of such Registration Statement.
April 26, 1996
SCHEDULE FOR COMPUTATION OF EACH PERFORMANCE QUOTATION
PROVIDED IN THE REGISTRATION STATEMENT
(1) ENDING REDEMPTION VALUE AND TOTAL RETURN
Value of an initial investment at the end of a period and total return for the
period are computed as set forth below.
(A) Initial investment DIVIDED BY
Public offering price for one share at
beginning of period EQUALS
Number of shares initially purchased
(B) Number of shares initially purchased PLUS
Number of shares acquired at net asset
value through reinvestment of dividends
and capital gain distributions during period EQUALS
Number of shares purchased during period
(C) Number of shares purchased during period MULTIPLIED BY
Net asset value of one share as of the last day
of the period EQUALS
Value of investment at end of period
(D) Value of investment at end of period DIVIDED BY
Initial investment
minus one and then multiplied by 100 EQUALS
Total return for the period expressed as a
percentage
EXHIBIT 16
(2) AVERAGE ANNUAL TOTAL RETURN
Average annual total return quotations for the 1-, 5- and 10-year periods ended
February 29, 1996 are computed according to the formula set forth below.
P(1+T)/n/ = ERV
WHERE: P= a hypothetical initial investment of $1,000
T= average annual total return
n= number of years
ERV= ending redeemable value of a hypothetical $1,000 investment as of the end
of 1 year and lifetime periods (computed in accordance with the formula shown
in (1), above)
THUS:
AVG. ANNUAL TOTAL RETURN AT PUBLIC OFFERING PRICE:
1 Year Total Return 1,000(1+T)/1/ = 1,218.44
T = +21.84%
5 Year Average Annual Total Return 1,000(1+T)/5/ = 1,788.45
T = +12.33%
10 Year Average Annual Total Return 1,000(1+T)/10/ = 3,296.68
T = +12.67%
Hypothetical illustrations which are based on $1,000 and $10,000 initial
investments used to obtain ending values over various time periods are
attached. Illustrations of $2,000 per year which show the benefits of
systematic investing are also included.
(3) YIELD
Yield is computed as set forth below.
(A) Dividends and interest earned during the period MINUS
Expenses accrued for the period EQUALS
Net investment income
(B) Net income investment DIVIDED BY
Average daily number of shares
outstanding during the period that
were entitled to receive dividends EQUALS
Net investment income per share earned
during the period
(C) Net investment income per share earned
during the period DIVIDED BY
Maximum offering price per share on
last day of the period EQUALS
Current month's yield
(D) Current months yield PLUS ONE RAISED
TO THE SIXTH
POWER EQUALS
Semiannual compounded yield
(E) Semiannual compounded yield MINUS ONE
MULTIPLIED
BY TWO EQUALS
Annualized rate
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHAPER SHARE VALUE
04/01/95 1000 13.2 5.75 75.76 12.44 942
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURREN CUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROMCAP GAISUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'NINV'M' REINV'TOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
03/31/96 1000 13 13 1013 91 1067 96 1163 13 1176.03 83.525
$91
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHAPER SHARE VALUE
04/01/91 1000 12.36 5.75 80.91 11.65 943
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURREN CUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROMCAP GAISUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'NINV'M' REINV'TOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
03/31/92 1000 10 10 1010 19 1027 21 1048 10 1058.18 83.387
03/31/93 1000 12 22 1022 27 1110 51 1161 25 1186.08 86.449
03/31/94 1000 10 32 1032 163 1006 207 1213 33 1246.82 100.227
03/31/95 1000 13 45 1045 97 1006 309 1315 47 1362.8 109.55
03/31/96 1000 18 63 1063 132 1139 488 1627 73 1700.6 120.781
$438
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHAPER SHARE VALUE
04/01/86 1000 10.49 5.75 95.33 9.89 943
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURREN CUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROMCAP GAISUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'NINV'M' REINV'TOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
03/31/87 1000 18 18 1018 95 1067 101 1168 17 1185.6 105.952
03/31/88 1000 24 42 1042 42 950 132 1082 39 1121.92 112.53
03/31/89 1000 25 67 1067 50 1014 195 1209 68 1277.72 120.086
03/31/90 1000 36 103 1103 138 1037 334 1371 105 1476.6 135.717
03/31/91 1000 31 134 1134 93 1111 463 1574 149 1723.36 147.928
03/31/92 1000 18 152 1152 36 1210 543 1753 181 1934.77 152.464
03/31/93 1000 23 175 1175 49 1308 639 1947 221 2168.61 158.062
03/31/94 1000 20 195 1195 298 1186 874 2060 219 2279.65 183.252
03/31/95 1000 24 219 1219 178 1186 1060 2246 245 2491.69 200.297
03/31/96 1000 34 253 1253 242 1342 1452 2794 315 3109.27 220.829
$1,221
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHAPER SHARE VALUE
05/01/67 1000 5.31 5.75 188.3 5 942
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURREN CUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROMCAP GAISUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'NINV'M' REINV'TOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
03/31/68 1000 0 0 1000 0 998 0 998 0 998.12 188.324
03/31/69 1000 8 8 1008 0 1241 0 1241 8 1249.64 189.627
03/31/70 1000 19 27 1027 46 1115 43 1158 25 1183.46 199.909
03/31/71 1000 20 47 1047 0 1234 48 1282 51 1333.56 203.597
03/31/72 1000 24 71 1071 0 1377 53 1430 85 1515.03 207.254
03/31/73 1000 23 94 1094 50 1164 88 1252 91 1343.44 217.385
03/31/74 1000 20 114 1114 117 827 165 992 82 1074.32 244.72
03/31/75 1000 29 143 1143 0 819 164 983 113 1096.16 251.99
03/31/76 1000 33 176 1176 0 1024 205 1229 182 1411.61 259.487
03/31/77 1000 21 197 1197 0 1021 204 1225 202 1427.85 263.441
03/31/78 1000 60 257 1257 0 1218 244 1462 308 1770.34 273.623
03/31/79 1000 44 301 1301 0 1667 333 2000 465 2465.39 278.575
03/31/80 1000 72 373 1373 178 1836 548 2384 586 2970.21 304.637
03/31/81 1000 143 516 1516 430 2290 1116 3406 875 4281.85 352.126
03/31/82 1000 239 755 1755 65 2102 1090 3192 1036 4228.38 757.775
03/31/83 1000 159 914 1914 0 3021 1566 4587 1649 6236.09 777.567
03/31/84 1000 194 1108 2108 86 2889 1584 4473 1774 6247.18 814.496
03/31/85 1000 155 1263 2263 195 3089 1890 4979 2051 7030.38 857.364
03/31/86 1000 163 1426 2426 557 3725 2838 6563 2637 9200.98 930.332
03/31/87 1000 178 1604 2604 923 4215 4198 8413 3157 11570.5 1034.004
03/31/88 1000 232 1836 2836 407 3755 4150 7905 3044 10949.01 1098.196
03/31/89 1000 244 2080 3080 490 4008 4952 8960 3509 12469.44 1171.94
03/31/90 1000 345 2425 3425 1343 4098 6383 10481 3929 14410.41 1324.486
03/31/91 1000 307 2732 3732 907 4388 7863 12251 4567 16818.74 1443.669
03/31/92 1000 173 2905 3905 346 4780 8940 13720 5161 18881.93 1487.938
03/31/93 1000 226 3131 4131 480 5168 10176 15344 5820 21164.01 1542.566
03/31/94 1000 192 3323 4323 2910 4685 12096 16781 5466 22247.7 1788.4
03/31/95 1000 240 3563 4563 1734 4685 13914 18599 5718 24317.23 1954.761
03/31/96 1000 337 3900 4900 2360 5303 18215 23518 6826 30344.55 2155.153
$13,624
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHAPER SHARE VALUE
04/01/95 1000 12.44 0.00 80.39 12.44 1000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURREN CUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROMCAP GAISUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'NINV'M' REINV'TOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
03/31/96 1000 14 14 1014 97 1132 101 1233 14 1247.87 88.627
$97
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHAPER SHARE VALUE
04/01/91 1000 11.65 0.00 85.84 11.65 1000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURREN CUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROMCAP GAISUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'NINV'M' REINV'TOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
03/31/92 1000 10 10 1010 21 1089 22 1111 11 1122.67 88.469
03/31/93 1000 14 24 1024 29 1178 54 1232 26 1258.36 91.717
03/31/94 1000 12 36 1036 173 1068 220 1288 34 1322.79 106.334
03/31/95 1000 14 50 1050 103 1068 328 1396 49 1445.84 116.225
03/31/96 1000 20 70 1070 140 1209 518 1727 77 1804.21 128.14
$466
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHAPER SHARE VALUE
04/01/86 1000 9.89 0.00 101.1 9.89 1000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURREN CUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROMCAP GAISUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'NINV'M' REINV'TOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
03/31/87 1000 19 19 1019 100 1131 107 1238 19 1257.53 112.38
03/31/88 1000 25 44 1044 44 1008 140 1148 41 1189.99 119.357
03/31/89 1000 27 71 1071 53 1076 206 1282 73 1355.24 127.372
03/31/90 1000 38 109 1109 146 1100 354 1454 112 1566.19 143.951
03/31/91 1000 34 143 1143 99 1178 491 1669 158 1827.94 156.905
03/31/92 1000 19 162 1162 38 1283 576 1859 193 2052.19 161.717
03/31/93 1000 24 186 1186 52 1387 678 2065 235 2300.23 167.655
03/31/94 1000 20 206 1206 316 1258 927 2185 233 2418 194.373
03/31/95 1000 26 232 1232 189 1258 1124 2382 260 2642.92 212.453
03/31/96 1000 37 269 1269 257 1424 1541 2965 333 3298 234.233
$1,294
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHAPER SHARE VALUE
05/01/67 1000 5 0.00 200 5 1000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURREN CUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROMCAP GAISUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'NINV'M' REINV'TOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
03/31/68 1000 0 0 1000 0 1060 0 1060 0 1060 200
03/31/69 1000 8 8 1008 0 1318 0 1318 9 1327.12 201.384
03/31/70 1000 20 28 1028 48 1184 46 1230 26 1256.84 212.304
03/31/71 1000 21 49 1049 0 1310 50 1360 56 1416.25 216.221
03/31/72 1000 26 75 1075 0 1462 56 1518 90 1608.97 220.106
03/31/73 1000 24 99 1099 53 1236 93 1329 97 1426.75 230.865
03/31/74 1000 21 120 1120 125 878 175 1053 87 1140.95 259.897
03/31/75 1000 31 151 1151 0 870 174 1044 120 1164.13 267.617
03/31/76 1000 35 186 1186 0 1088 217 1305 194 1499.14 275.578
03/31/77 1000 22 208 1208 0 1084 217 1301 215 1516.4 279.778
03/31/78 1000 64 272 1272 0 1294 259 1553 327 1880.14 290.593
03/31/79 1000 46 318 1318 0 1770 354 2124 494 2618.29 295.852
03/31/80 1000 77 395 1395 189 1950 582 2532 622 3154.43 323.531
03/31/81 1000 152 547 1547 456 2432 1185 3617 930 4547.43 373.966
03/31/82 1000 254 801 1801 69 2232 1157 3389 1101 4490.64 804.775
03/31/83 1000 169 970 1970 0 3208 1663 4871 1751 6622.88 825.795
03/31/84 1000 206 1176 2176 91 3068 1683 4751 1883 6634.67 865.015
03/31/85 1000 164 1340 2340 208 3280 2007 5287 2179 7466.44 910.541
03/31/86 1000 173 1513 2513 592 3956 3014 6970 2801 9771.66 988.034
03/31/87 1000 189 1702 2702 981 4476 4459 8935 3353 12288.15 1098.137
03/31/88 1000 247 1949 2949 432 3988 4408 8396 3232 11628.11 1166.31
03/31/89 1000 259 2208 3208 520 4256 5259 9515 3727 13242.83 1244.627
03/31/90 1000 367 2575 3575 1426 4352 6779 11131 4173 15304.18 1406.634
03/31/91 1000 326 2901 3901 963 4660 8351 13011 4850 17861.88 1533.209
03/31/92 1000 184 3085 4085 368 5076 9494 14570 5483 20053.04 1580.224
03/31/93 1000 239 3324 4324 510 5488 10807 16295 6181 22476.65 1638.24
03/31/94 1000 204 3528 4528 3091 4976 12846 17822 5805 23627.57 1899.322
03/31/95 1000 255 3783 4783 1842 4976 14776 19752 6073 25825.45 2076.001
03/31/96 1000 357 4140 5140 2507 5632 19344 24976 7250 32226.6 2288.821
TOTAL $14,471
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFERCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 1000 13.03 5.75 % 76.746 12.28 942
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/96 1000 13 13 1013 93 1105 99 1204 14 1218.44 84.614
TOTAL $93
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 1000 12.28 5.75 % 81.433 11.57 942
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/92 1000 12 12 1012 38 1077 43 1120 14 1134.45 85.748
02/28/93 1000 13 25 1025 28 1101 73 1174 27 1201.87 88.896
02/28/94 1000 11 36 1036 168 1057 243 1300 37 1337.76 103.063
02/28/95 1000 14 50 1050 100 1000 333 1333 50 1383.34 112.65
02/29/96 1000 20 70 1070 136 1173 536 1709 79 1788.45 124.198
TOTAL $470
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 1000 10.98 5.75 % 91.075 10.35 943
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/87 1000 17 17 1017 119 1067 141 1208 20 1228.65 104.834
02/29/88 1000 32 49 1049 74 944 197 1141 49 1190.12 114.766
02/28/89 1000 33 82 1082 45 968 250 1218 86 1304.75 122.742
02/28/90 1000 34 116 1116 122 990 376 1366 121 1487.45 136.84
02/28/91 1000 35 151 1151 99 1054 513 1567 169 1736.71 150.105
02/29/92 1000 23 174 1174 70 1205 666 1871 220 2091.11 158.058
02/28/93 1000 24 198 1198 51 1231 734 1965 250 2215.4 163.861
02/28/94 1000 20 218 1218 309 1182 1023 2205 260 2465.88 189.975
02/28/95 1000 26 244 1244 184 1118 1158 2276 273 2549.93 207.649
02/29/96 1000 35 279 1279 251 1311 1626 2937 359 3296.68 228.936
TOTAL $1,324
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 2000 12.28 5.75 % 162.866 11.57 1884
ANNUAL INVESTMENTS OF $ 2000.00 -- SAME DAY AS INITIAL INVESTMENT
DIVIDENDS AND CAPITAL GAINS REINVESTED
RIGHT OF ACCUMULATION DISCOUNT REFLECTED WHERE APPLICABLE IN THIS ILLUSTRATION
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/92 2000 25 25 2025 76 2155 86 2241 27 2268.91 171.497
02/28/93 4000 48 73 4073 101 4128 194 4322 78 4400.39 325.473
02/28/94 6000 58 131 6131 877 5773 1089 6862 134 6996.74 539.04
02/28/95 8000 92 223 8223 664 7246 1717 8963 221 9184.65 747.936
02/29/96 10000 155 378 10378 1089 10707 3176 13883 428 14311.25 993.837
TOTAL $2,807
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 2000 10.98 5.75 % 182.149 10.35 1885
ANNUAL INVESTMENTS OF $ 2000.00 -- SAME DAY AS INITIAL INVESTMENT
DIVIDENDS AND CAPITAL GAINS REINVESTED
RIGHT OF ACCUMULATION DISCOUNT REFLECTED WHERE APPLICABLE IN THIS ILLUSTRATION
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/87 2000 35 35 2035 237 2135 281 2416 41 2457.3 209.667
02/29/88 4000 114 149 4149 261 3556 504 4060 145 4205.39 405.534
02/28/89 6000 172 321 6321 232 5578 766 6344 333 6677.45 628.17
02/28/90 8000 220 541 8541 799 7631 1572 9203 558 9761.18 897.993
02/28/91 10000 274 815 10815 774 10130 2557 12687 911 13598.44 1175.319
02/29/92 12000 204 1019 13019 623 13738 3631 17369 1273 18642.37 1409.098
02/28/93 14000 235 1254 15254 500 15965 4235 20200 1547 21747.08 1608.512
02/28/94 16000 217 1471 17471 3298 17137 7458 24595 1709 26304.68 2026.555
02/28/95 18000 292 1763 19763 2106 17997 9235 27232 1918 29150.53 2373.822
02/29/96 20000 434 2197 22197 3052 23314 14091 37405 2719 40124.17 2786.401
TOTAL $11,882
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 2000 14.12 5.75 % 141.643 13.31 1885
ANNUAL INVESTMENTS OF $ 2000.00 -- SAME DAY AS INITIAL INVESTMENT
DIVIDENDS AND CAPITAL GAINS REINVESTED
RIGHT OF ACCUMULATION DISCOUNT REFLECTED WHERE APPLICABLE IN THIS ILLUSTRATION
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/82 2000 121 121 2121 200 1669 195 1864 118 1982.7 336.621
02/28/83 4000 112 233 4233 59 4893 355 5248 325 5573.78 687.272
02/29/84 6000 193 426 6426 0 6678 349 7027 514 7541.4 943.855
02/28/85 8000 295 721 8721 130 9495 539 10034 914 10948.59 1235.733
02/28/86 10000 275 996 10996 348 13294 1070 14364 1417 15781.01 1524.735
02/28/87 12000 324 1320 13320 2221 17189 3849 21038 1988 23026.79 1964.743
02/29/88 14000 650 1970 15970 1499 16876 4867 21743 2386 24129.74 2326.879
02/28/89 16000 736 2706 18706 992 19232 6057 25289 3231 28520.74 2683.042
02/28/90 18000 782 3488 21488 2838 21593 8994 30587 4076 34663.23 3188.89
02/28/91 20000 859 4347 24347 2430 24991 12344 37335 5338 42673.56 3688.294
02/29/92 22000 588 4935 26935 1792 30731 16151 46882 6768 53650.84 4055.241
02/28/93 24000 636 5571 29571 1355 33357 17925 51282 7581 58863.78 4353.83
02/28/94 26000 559 6130 32130 8480 33858 25933 59791 7853 67644.52 5211.442
02/28/95 28000 719 6849 34849 5197 33839 29911 63750 8174 71924.91 5857.077
02/29/96 30000 1035 7884 37884 7260 41921 42834 84755 10702 95457.27 6628.977
TOTAL $34,801
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 2000 5.68 5.75 % 352.113 5.35 1884
ANNUAL INVESTMENTS OF $ 2000.00 -- SAME DAY AS INITIAL INVESTMENT
DIVIDENDS AND CAPITAL GAINS REINVESTED
RIGHT OF ACCUMULATION DISCOUNT REFLECTED WHERE APPLICABLE IN THIS ILLUSTRATION
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/77 2000 28 28 2028 0 1894 0 1894 29 1923.24 357.479
02/28/78 4000 71 99 4099 0 4348 0 4348 114 4462.8 720.97
02/28/79 6000 128 227 6227 0 8366 0 8366 321 8687.88 1045.473
02/29/80 8000 204 431 8431 0 14852 0 14852 742 15594.89 1295.257
02/28/81 10000 377 808 10808 929 18503 1286 19789 1343 21132.34 1587.704
02/28/82 12000 1473 2281 14281 2438 18045 3520 21565 2642 24207.05 4109.855
02/28/83 14000 753 3034 17034 399 27441 5427 32868 4735 37603.12 4636.636
02/29/84 16000 1023 4057 20057 0 28893 5346 34239 5682 39921.03 4996.374
02/28/85 18000 1308 5365 23365 576 34129 6601 40730 7829 48559.17 5480.719
02/28/86 20000 1082 6447 26447 1367 42099 9443 51542 10516 62058.99 5996.038
02/28/87 22000 1174 7621 29621 8041 49834 20242 70076 13302 83378.85 7114.236
02/29/88 24000 2225 9846 33846 5132 45784 22913 68697 13917 82614.23 7966.657
02/28/89 26000 2389 12235 38235 3222 48889 26958 75847 16817 92664.55 8717.267
02/28/90 28000 2433 14668 42668 8828 51947 36276 88223 19595 107818.24 9918.881
02/28/91 30000 2581 17249 47249 7297 57347 46934 104281 23859 128140.6 11075.246
02/29/92 32000 1715 18964 50964 5230 67782 59609 127391 29223 156614.03 11837.795
02/28/93 34000 1814 20778 54778 3865 71240 64969 136209 31758 167967.59 12423.638
02/28/94 36000 1562 22340 58340 23708 70247 86761 157008 32098 189106.53 14569.07
02/28/95 38000 1975 24315 62315 14274 68285 96850 165135 32411 197546.46 16086.845
02/29/96 40000 2795 27110 67110 19615 82336 134534 216870 41022 257892.41 17909.195
TOTAL $104,921
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 5.31 5.75 %1883.239 5 9416
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/68 10000 0 0 10000 0 10056 0 10056 0 10056.5 1883.239
02/28/69 10000 75 75 10075 0 12128 0 12128 83 12211.99 1896.272
02/28/70 10000 190 265 10265 455 11149 430 11579 255 11834.68 1999.101
02/28/71 10000 200 465 10465 0 11695 451 12146 497 12643.47 2035.985
02/29/72 10000 244 709 10709 0 13540 522 14062 839 14901.71 2072.56
02/28/73 10000 228 937 10937 497 12109 913 13022 956 13978 2173.872
02/28/74 10000 196 1133 11133 1174 8493 1697 10190 847 11037.02 2447.233
02/28/75 10000 294 1427 11427 0 7401 1479 8880 1023 9903.3 2519.924
02/29/76 10000 328 1755 11755 0 10075 2014 12089 1793 13882.65 2594.887
02/28/77 10000 208 1963 11963 0 10132 2025 12157 2016 14173.22 2634.428
02/28/78 10000 263 2226 12226 0 11657 2330 13987 2624 16611.91 2683.669
02/28/79 10000 335 2561 12561 0 15650 3128 18778 3960 22738.23 2736.249
02/29/80 10000 438 2999 12999 0 22674 4531 27205 6335 33540.72 2785.774
02/28/81 10000 724 3723 13723 1783 25066 7476 32542 8005 40547.56 3046.398
02/28/82 10000 2594 6317 16317 4295 22185 10812 32997 9645 42642.86 7239.875
02/28/83 10000 1231 7548 17548 652 30546 15837 46383 15073 61456.14 7577.823
02/29/84 10000 1591 9139 19139 0 30094 15602 45696 16432 62128.25 7775.751
02/28/85 10000 1944 11083 21083 855 33371 18301 51672 20493 72165.12 8145.047
02/28/86 10000 1548 12631 22631 1955 38983 23855 62838 25900 88738.15 8573.734
02/28/87 10000 1629 14260 24260 11155 44143 40258 84401 31263 115664.34 9868.971
02/29/88 10000 3017 17277 27277 6960 39058 42406 81464 30572 112036.69 10803.924
02/28/89 10000 3167 20444 30444 4271 40038 48069 88107 34720 122827 11554.751
02/28/90 10000 3160 23604 33604 11465 40942 60465 101407 38619 140026.73 12881.944
02/28/91 10000 3293 26897 36897 9310 43578 74977 118555 44937 163492.27 14130.706
02/29/92 10000 2156 29053 39053 6574 49831 93202 143033 53823 196856.16 14879.528
02/28/93 10000 2252 31305 41305 4799 50923 100277 151200 57356 208556.96 15425.811
02/28/94 10000 1918 33223 43223 29103 48889 126209 175098 57038 232136.75 17884.187
02/28/95 10000 2399 35622 45622 17344 46252 137347 183599 56448 240047.08 19547.808
02/29/96 10000 3363 38985 48985 23605 54237 186287 240524 69821 310345.08 21551.742
TOTAL $136,252
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 5.67 5.75 %1763.668 5.34 9418
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/69 10000 71 71 10071 0 11358 0 11358 78 11436.63 1775.874
02/28/70 10000 178 249 10249 426 10441 402 10843 240 11083.27 1872.174
02/28/71 10000 187 436 10436 0 10952 422 11374 466 11840.71 1906.716
02/29/72 10000 229 665 10665 0 12681 489 13170 785 13955.57 1940.969
02/28/73 10000 214 879 10879 466 11340 855 12195 895 13090.51 2035.849
02/28/74 10000 183 1062 11062 1099 7954 1590 9544 792 10336.27 2291.855
02/28/75 10000 275 1337 11337 0 6931 1385 8316 958 9274.52 2359.929
02/29/76 10000 307 1644 11644 0 9436 1886 11322 1679 13001.21 2430.133
02/28/77 10000 194 1838 11838 0 9489 1896 11385 1888 13273.34 2467.163
02/28/78 10000 247 2085 12085 0 10917 2182 13099 2458 15557.2 2513.279
02/28/79 10000 314 2399 12399 0 14656 2929 17585 3709 21294.54 2562.52
02/29/80 10000 410 2809 12809 0 21235 4244 25479 5932 31411.16 2608.9
02/28/81 10000 678 3487 13487 1670 23474 7002 30476 7497 37973.1 2852.975
02/28/82 10000 2429 5916 15916 4023 20776 10126 30902 9033 39935.35 6780.196
02/28/83 10000 1153 7069 17069 610 28607 14831 43438 14116 57554.12 7096.686
02/29/84 10000 1490 8559 18559 0 28183 14612 42795 15388 58183.56 7282.047
02/28/85 10000 1821 10380 20380 801 31252 17139 48391 19192 67583.17 7627.897
02/28/86 10000 1449 11829 21829 1831 36508 22340 58848 24255 83103.94 8029.366
02/28/87 10000 1526 13355 23355 10447 41340 37702 79042 29278 108320.51 9242.364
02/29/88 10000 2826 16181 26181 6518 36578 39713 76291 28632 104923.18 10117.954
02/28/89 10000 2966 19147 29147 3999 37496 45017 82513 32515 115028.41 10821.111
02/28/90 10000 2959 22106 32106 10737 38342 56626 94968 36168 131136.08 12064.037
02/28/91 10000 3084 25190 35190 8718 40811 70216 111027 42084 153111.7 13233.509
02/29/92 10000 2019 27209 37209 6156 46667 87285 133952 50405 184357.22 13934.786
02/28/93 10000 2109 29318 39318 4494 47690 93911 141601 53714 195315.11 14446.384
02/28/94 10000 1796 31114 41114 27255 45785 118196 163981 53416 217397.75 16748.671
02/28/95 10000 2247 33361 43361 16243 43316 128627 171943 52862 224805.83 18306.664
02/29/96 10000 3150 36511 46511 22106 50794 174459 225253 65387 290640.41 20183.362
TOTAL $127,599
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 6.83 5.75 %1464.129 6.44 9429
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/70 10000 146 146 10146 351 8668 332 9000 137 9137.66 1543.523
02/28/71 10000 154 300 10300 0 9092 348 9440 322 9762.13 1572.001
02/29/72 10000 189 489 10489 0 10527 403 10930 575 11505.73 1600.241
02/28/73 10000 176 665 10665 384 9414 705 10119 673 10792.54 1678.466
02/28/74 10000 151 816 10816 906 6603 1311 7914 607 8521.78 1889.53
02/28/75 10000 227 1043 11043 0 5754 1142 6896 750 7646.42 1945.654
02/29/76 10000 253 1296 11296 0 7833 1555 9388 1330 10718.91 2003.535
02/28/77 10000 160 1456 11456 0 7877 1563 9440 1503 10943.27 2034.065
02/28/78 10000 203 1659 11659 0 9063 1799 10862 1964 12826.21 2072.086
02/28/79 10000 259 1918 11918 0 12167 2415 14582 2974 17556.4 2112.683
02/29/80 10000 338 2256 12256 0 17628 3499 21127 4770 25897.1 2150.922
02/28/81 10000 559 2815 12815 1377 19488 5772 25260 6047 31307.14 2352.152
02/28/82 10000 2003 4818 14818 3317 17247 8348 25595 7329 32924.92 5589.97
02/28/83 10000 950 5768 15768 503 23748 12228 35976 11474 47450.82 5850.902
02/29/84 10000 1229 6997 16997 0 23397 12047 35444 12525 47969.75 6003.724
02/28/85 10000 1501 8498 18498 660 25944 14130 40074 15645 55719.31 6288.861
02/28/86 10000 1195 9693 19693 1509 30307 18419 48726 19789 68515.49 6619.854
02/28/87 10000 1258 10951 20951 8613 34319 31084 65403 23902 89305.44 7619.918
02/29/88 10000 2330 13281 23281 5374 30366 32742 63108 23396 86504.52 8341.805
02/28/89 10000 2445 15726 25726 3297 31127 37114 68241 26594 94835.83 8921.527
02/28/90 10000 2440 18166 28166 8852 31830 46686 78516 29599 108115.9 9946.265
02/28/91 10000 2542 20708 30708 7188 33880 57890 91770 34463 126233.85 10910.445
02/29/92 10000 1665 22373 32373 5076 38741 71962 110703 41291 151994.39 11488.616
02/28/93 10000 1740 24113 34113 3705 39590 77425 117015 44013 161028.68 11910.405
02/28/94 10000 1482 25595 35595 22470 38009 97447 135456 43778 179234.84 13808.539
02/28/95 10000 1852 27447 37447 13392 35959 106047 142006 43336 185342.48 15093.036
02/29/96 10000 2597 30044 40044 18225 42167 143834 186001 53619 239620.19 16640.291
TOTAL $105,199
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 6.28 5.75 %1592.357 5.92 9427
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/71 10000 159 159 10159 0 9889 0 9889 181 10070.99 1621.737
02/29/72 10000 195 354 10354 0 11449 0 11449 420 11869.76 1650.87
02/28/73 10000 182 536 10536 396 10239 356 10595 539 11134 1731.57
02/28/74 10000 156 692 10692 935 7182 1091 8273 518 8791.4 1949.313
02/28/75 10000 234 926 10926 0 6258 951 7209 679 7888.35 2007.214
02/29/76 10000 261 1187 11187 0 8519 1295 9814 1244 11058.05 2066.926
02/28/77 10000 165 1352 11352 0 8567 1302 9869 1420 11289.5 2098.421
02/28/78 10000 210 1562 11562 0 9857 1498 11355 1877 13232.01 2137.643
02/28/79 10000 267 1829 11829 0 13232 2011 15243 2868 18111.85 2179.525
02/29/80 10000 349 2178 12178 0 19172 2913 22085 4631 26716.43 2218.973
02/28/81 10000 577 2755 12755 1420 21194 5186 26380 5917 32297.63 2426.569
02/28/82 10000 2066 4821 14821 3421 18758 7931 26689 7277 33966.62 5766.828
02/28/83 10000 980 5801 15801 519 25828 11677 37505 11447 48952.08 6036.015
02/29/84 10000 1268 7069 17069 0 25446 11504 36950 12537 49487.44 6193.672
02/28/85 10000 1548 8617 18617 681 28217 13553 41770 15712 57482.17 6487.83
02/28/86 10000 1233 9850 19850 1557 32962 17805 50767 19916 70683.2 6829.295
02/28/87 10000 1298 11148 21148 8885 37325 30712 68037 24093 92130.91 7860.999
02/29/88 10000 2403 13551 23551 5544 33025 32579 65604 23637 89241.36 8605.724
02/28/89 10000 2523 16074 26074 3402 33854 37059 70913 26923 97836.26 9203.787
02/28/90 10000 2516 18590 28590 9133 34618 46906 81524 30012 111536.47 10260.945
02/28/91 10000 2623 21213 31213 7415 36847 58384 95231 34996 130227.63 11255.629
02/29/92 10000 1718 22931 32931 5236 42134 72709 114843 41960 156803.2 11852.094
02/28/93 10000 1794 24725 34725 3823 43057 78311 121368 44755 166123.31 12287.227
02/28/94 10000 1528 26253 36253 23181 41338 99029 140367 44538 184905.46 14245.413
02/28/95 10000 1911 28164 38164 13815 39108 107982 147090 44116 191206.34 15570.549
02/29/96 10000 2680 30844 40844 18802 45860 146720 192580 54621 247201.29 17166.756
TOTAL $108,165
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 6.59 5.75 %1517.451 6.21 9423
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/72 10000 182 182 10182 0 10910 0 10910 196 11106.46 1544.71
02/28/73 10000 170 352 10352 371 9757 333 10090 328 10418.01 1620.22
02/28/74 10000 146 498 10498 875 6844 1021 7865 361 8226.06 1823.961
02/28/75 10000 219 717 10717 0 5964 890 6854 527 7381.09 1878.139
02/29/76 10000 244 961 10961 0 8118 1211 9329 1017 10346.96 1934.011
02/28/77 10000 155 1116 11116 0 8164 1218 9382 1181 10563.53 1963.481
02/28/78 10000 196 1312 11312 0 9393 1401 10794 1587 12381.13 2000.182
02/28/79 10000 250 1562 11562 0 12610 1881 14491 2456 16947.16 2039.37
02/29/80 10000 326 1888 11888 0 18270 2726 20996 4002 24998.44 2076.282
02/28/81 10000 540 2428 12428 1329 20197 4852 25049 5171 30220.73 2270.528
02/28/82 10000 1933 4361 14361 3201 17876 7421 25297 6485 31782.38 5395.99
02/28/83 10000 917 5278 15278 486 24613 10926 35539 10265 45804.21 5647.868
02/29/84 10000 1186 6464 16464 0 24249 10764 35013 11292 46305.14 5795.387
02/28/85 10000 1449 7913 17913 637 26889 12681 39570 14215 53785.78 6070.63
02/28/86 10000 1153 9066 19066 1457 31411 16660 48071 18066 66137.91 6390.136
02/28/87 10000 1214 10280 20280 8314 35569 28737 64306 21900 86206.42 7355.497
02/29/88 10000 2249 12529 22529 5188 31472 30484 61956 21546 83502.67 8052.331
02/28/89 10000 2360 14889 24889 3183 32261 34676 66937 24607 91544.86 8611.934
02/28/90 10000 2354 17243 27243 8545 32989 43890 76879 27485 104364.09 9601.112
02/28/91 10000 2454 19697 29697 6939 35114 54629 89743 32110 121853.31 10531.833
02/29/92 10000 1607 21304 31304 4899 40152 68034 108186 38533 146719.92 11089.941
02/28/93 10000 1679 22983 32983 3577 41032 73275 114307 41133 155440.71 11497.094
02/28/94 10000 1430 24413 34413 21691 39393 92661 132054 40961 173015.09 13329.36
02/28/95 10000 1788 26201 36201 12927 37269 101038 138307 40603 178910.8 14569.283
02/29/96 10000 2506 28707 38707 17593 43703 137285 180988 50316 231304.97 16062.845
TOTAL $101,212
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 7.63 5.75 %1310.616 7.19 9423
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/73 10000 144 144 10144 315 8427 282 8709 130 8839.21 1374.683
02/28/74 10000 124 268 10268 742 5911 866 6777 202 6979.44 1547.548
02/28/75 10000 186 454 10454 0 5151 755 5906 356 6262.52 1593.516
02/29/76 10000 207 661 10661 0 7012 1028 8040 738 8778.93 1640.921
02/28/77 10000 131 792 10792 0 7051 1034 8085 877 8962.68 1665.925
02/28/78 10000 167 959 10959 0 8113 1189 9302 1202 10504.82 1697.063
02/28/79 10000 212 1171 11171 0 10891 1596 12487 1891 14378.89 1730.312
02/29/80 10000 277 1448 11448 0 15780 2313 18093 3117 21210.03 1761.63
02/28/81 10000 458 1906 11906 1127 17444 4117 21561 4079 25640.9 1926.439
02/28/82 10000 1640 3546 13546 2716 15439 6297 21736 5229 26965.91 4578.253
02/28/83 10000 778 4324 14324 412 21258 9270 30528 8334 38862.79 4791.959
02/29/84 10000 1006 5330 15330 0 20944 9133 30077 9210 39287.8 4917.122
02/28/85 10000 1229 6559 16559 541 23224 10760 33984 11650 45634.78 5150.652
02/28/86 10000 979 7538 17538 1236 27130 14135 41265 14850 56115 5421.739
02/28/87 10000 1030 8568 18568 7054 30721 24382 55103 18039 73142.21 6240.803
02/29/88 10000 1908 10476 20476 4402 27182 25864 53046 17802 70848.21 6832.036
02/28/89 10000 2002 12478 22478 2701 27864 29421 57285 20386 77671.65 7306.834
02/28/90 10000 1998 14476 24476 7250 28493 37238 65731 22817 88548.17 8146.106
02/28/91 10000 2082 16558 26558 5887 30328 46351 76679 26708 103387 8935.782
02/29/92 10000 1364 17922 27922 4157 34679 57724 92403 32082 124485.18 9409.311
02/28/93 10000 1424 19346 29346 3035 35439 62171 97610 34274 131884.37 9754.761
02/28/94 10000 1213 20559 30559 18403 34024 78619 112643 34152 146795.43 11309.355
02/28/95 10000 1517 22076 32076 10968 32189 85726 117915 33882 151797.65 12361.372
02/29/96 10000 2127 24203 34203 14927 37746 116480 154226 42025 196251.71 13628.591
TOTAL $85,873
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 6.82 5.75 %1466.276 6.43 9428
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/74 10000 132 132 10132 792 6613 713 7326 118 7444.46 1650.657
02/28/75 10000 198 330 10330 0 5762 621 6383 296 6679.77 1699.687
02/29/76 10000 221 551 10551 0 7845 846 8691 672 9363.84 1750.25
02/28/77 10000 140 691 10691 0 7889 850 8739 820 9559.83 1776.92
02/28/78 10000 178 869 10869 0 9076 978 10054 1150 11204.72 1810.133
02/28/79 10000 226 1095 11095 0 12185 1313 13498 1838 15336.93 1845.599
02/29/80 10000 295 1390 11390 0 17654 1903 19557 3066 22623.21 1879.004
02/28/81 10000 489 1879 11879 1203 19516 3767 23283 4066 27349.31 2054.794
02/28/82 10000 1750 3629 13629 2897 17273 6164 23437 5325 28762.58 4883.291
02/28/83 10000 830 4459 14459 440 23783 9128 32911 8541 41452.13 5111.237
02/29/84 10000 1073 5532 15532 0 23431 8993 32424 9481 41905.46 5244.739
02/28/85 10000 1311 6843 16843 577 25982 10646 36628 12047 48675.32 5493.829
02/28/86 10000 1044 7887 17887 1319 30352 14107 44459 15394 59853.83 5782.979
02/28/87 10000 1099 8986 18986 7524 34370 24908 59278 18737 78015.54 6656.616
02/29/88 10000 2035 11021 21021 4695 30411 26616 57027 18541 75568.71 7287.243
02/28/89 10000 2136 13157 23157 2880 31173 30385 61558 21288 82846.79 7793.677
02/28/90 10000 2131 15288 25288 7733 31877 38701 70578 23870 94448 8688.868
02/28/91 10000 2221 17509 27509 6279 33930 48355 82285 27990 110275.5 9531.158
02/29/92 10000 1455 18964 28964 4434 38798 60330 99128 33651 132779.42 10036.237
02/28/93 10000 1519 20483 30483 3237 39648 65046 104694 35977 140671.6 10404.704
02/28/94 10000 1294 21777 31777 19630 38065 82641 120706 35870 156576.17 12062.879
02/28/95 10000 1618 23395 33395 11699 36012 90287 126299 35612 161911.69 13184.991
02/29/96 10000 2268 25663 35663 15921 42229 122891 165120 44207 209327.67 14536.644
TOTAL $91,260
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 4.79 5.75 %2087.683 4.51 9415
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/75 10000 251 251 10251 0 8205 0 8205 243 8448.29 2149.693
02/29/76 10000 279 530 10530 0 11169 0 11169 673 11842.99 2213.643
02/28/77 10000 177 707 10707 0 11232 0 11232 858 12090.87 2247.374
02/28/78 10000 225 932 10932 0 12923 0 12923 1248 14171.27 2289.381
02/28/79 10000 286 1218 11218 0 17349 0 17349 2048 19397.49 2334.235
02/29/80 10000 373 1591 11591 0 25136 0 25136 3476 28612.87 2376.484
02/28/81 10000 618 2209 12209 1521 27787 2104 29891 4699 34590.25 2598.817
02/28/82 10000 2212 4421 14421 3664 24593 5442 30035 6342 36377.7 6176.18
02/28/83 10000 1050 5471 15471 556 33862 8302 42164 10262 52426.9 6464.476
02/29/84 10000 1358 6829 16829 0 33361 8179 41540 11460 53000.26 6633.324
02/28/85 10000 1658 8487 18487 730 36994 9923 46917 14645 61562.51 6948.364
02/28/86 10000 1320 9807 19807 1668 43215 13704 56919 18781 75700.6 7314.068
02/28/87 10000 1390 11197 21197 9516 48935 26818 75753 22917 98670.74 8419.005
02/29/88 10000 2574 13771 23771 5938 43299 29517 72816 22760 95576.07 9216.593
02/28/89 10000 2702 16473 26473 3643 44384 34180 78564 26217 104781.07 9857.109
02/28/90 10000 2695 19168 29168 9781 45386 44602 89988 29465 119453.78 10989.308
02/28/91 10000 2809 21977 31977 7942 48309 56531 104840 34631 139471.71 12054.599
02/29/92 10000 1840 23817 33817 5608 55240 71014 126254 41679 167933.71 12693.402
02/28/93 10000 1922 25739 35739 4094 56451 76863 133314 44601 177915.43 13159.425
02/28/94 10000 1637 27376 37376 24827 54196 99331 153527 44503 198030.84 15256.613
02/28/95 10000 2047 29423 39423 14796 51273 109282 160555 44223 204778.97 16675.812
02/29/96 10000 2869 32292 42292 20137 60125 149671 209796 54952 264748.68 18385.325
TOTAL $114,421
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 4.17 5.75 %2398.082 3.93 9424
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/76 10000 312 312 10312 0 12830 0 12830 381 13211.4 2469.421
02/28/77 10000 198 510 10510 0 12902 0 12902 585 13487.93 2507.05
02/28/78 10000 251 761 10761 0 14844 0 14844 964 15808.72 2553.912
02/28/79 10000 319 1080 11080 0 19928 0 19928 1710 21638.82 2603.95
02/29/80 10000 417 1497 11497 0 28873 0 28873 3046 31919 2651.08
02/28/81 10000 689 2186 12186 1697 31918 2347 34265 4322 38587.05 2899.102
02/28/82 10000 2469 4655 14655 4088 28249 6070 34319 6262 40581.02 6889.817
02/28/83 10000 1171 5826 15826 620 38897 9261 48158 10326 58484.65 7211.424
02/29/84 10000 1514 7340 17340 0 38321 9124 47445 11679 59124.26 7399.782
02/28/85 10000 1850 9190 19190 814 42494 11069 53563 15112 68675.84 7751.224
02/28/86 10000 1473 10663 20663 1860 49640 15287 64927 19520 84447.54 8159.183
02/28/87 10000 1550 12213 22213 10616 56211 29916 86127 23944 110071.81 9391.793
02/29/88 10000 2872 15085 25085 6624 49736 32927 82663 23956 106619.57 10281.54
02/28/89 10000 3014 18099 28099 4064 50983 38130 89113 27775 116888.17 10996.065
02/28/90 10000 3007 21106 31106 10911 52134 49755 101889 31367 133256.28 12259.087
02/28/91 10000 3134 24240 34240 8859 55492 63063 118555 37032 155587.2 13447.468
02/29/92 10000 2052 26292 36292 6256 63453 79219 142672 44665 187337.87 14160.081
02/28/93 10000 2143 28435 38435 4567 64844 85744 150588 47884 198472.91 14679.949
02/28/94 10000 1826 30261 40261 27695 62254 110809 173063 47849 220912.58 17019.459
02/28/95 10000 2284 32545 42545 16506 58897 121909 180806 47634 228440.41 18602.639
02/29/96 10000 3201 35746 45746 22463 69065 166965 236030 59309 295339.36 20509.678
TOTAL $127,640
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 5.68 5.75 %1760.563 5.35 9419
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/77 10000 141 141 10141 0 9472 0 9472 144 9616.17 1787.392
02/28/78 10000 179 320 10320 0 10898 0 10898 372 11270.76 1820.801
02/28/79 10000 228 548 10548 0 14630 0 14630 797 15427.31 1856.475
02/29/80 10000 297 845 10845 0 21197 0 21197 1559 22756.53 1890.077
02/28/81 10000 491 1336 11336 1210 23433 1674 25107 2403 27510.48 2066.903
02/28/82 10000 1759 3095 13095 2914 20739 4328 25067 3865 28932.09 4912.07
02/28/83 10000 835 3930 13930 442 28556 6603 35159 6537 41696.42 5141.359
02/29/84 10000 1080 5010 15010 0 28134 6505 34639 7513 42152.44 5275.649
02/28/85 10000 1319 6329 16329 580 31197 7892 39089 9873 48962.19 5526.207
02/28/86 10000 1050 7379 17379 1326 36444 10899 47343 12863 60206.58 5817.061
02/28/87 10000 1105 8484 18484 7568 41268 21329 62597 15878 78475.32 6695.846
02/29/88 10000 2047 10531 20531 4722 36514 23475 59989 16025 76014.04 7330.187
02/28/89 10000 2149 12680 22680 2897 37430 27184 64614 18721 83335.01 7839.606
02/28/90 10000 2143 14823 24823 7779 38275 35473 73748 21256 95004.59 8740.073
02/28/91 10000 2234 17057 27057 6316 40739 44961 85700 25225 110925.35 9587.325
02/29/92 10000 1463 18520 28520 4460 46585 56479 103064 30497 133561.89 10095.381
02/28/93 10000 1529 20049 30049 3256 47606 61131 108737 32763 141500.6 10466.021
02/28/94 10000 1301 21350 31350 19745 45704 79001 124705 32793 157498.9 12133.968
02/28/95 10000 1628 22978 32978 11768 43239 86915 130154 32711 162865.88 13262.694
02/29/96 10000 2282 25260 35260 16015 50704 119037 169741 40820 210561.29 14622.312
TOTAL $90,998
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 5.71 5.75 %1751.313 5.38 9422
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/78 10000 175 175 10175 0 10841 0 10841 202 11043.26 1784.048
02/28/79 10000 223 398 10398 0 14553 0 14553 562 15115.91 1819.003
02/29/80 10000 291 689 10689 0 21086 0 21086 1211 22297.19 1851.926
02/28/81 10000 482 1171 11171 1185 23310 1640 24950 2005 26955.19 2025.183
02/28/82 10000 1724 2895 12895 2856 20630 4241 24871 3477 28348.09 4812.919
02/28/83 10000 818 3713 13713 433 28406 6470 34876 5978 40854.77 5037.58
02/29/84 10000 1058 4771 14771 0 27986 6374 34360 6941 41301.57 5169.158
02/28/85 10000 1292 6063 16063 569 31033 7732 38765 9208 47973.89 5414.66
02/28/86 10000 1029 7092 17092 1300 36252 10679 46931 12060 58991.31 5699.643
02/28/87 10000 1083 8175 18175 7416 41051 20898 61949 14942 76891.29 6560.69
02/29/88 10000 2006 10181 20181 4627 36322 23001 59323 15156 74479.69 7182.227
02/28/89 10000 2105 12286 22286 2839 37233 26636 63869 17783 81652.87 7681.361
02/28/90 10000 2100 14386 24386 7622 38074 34757 72831 20255 93086.89 8563.651
02/28/91 10000 2189 16575 26575 6189 40525 44053 84578 24108 108686.29 9393.802
02/29/92 10000 1434 18009 28009 4370 46340 55339 101679 29186 130865.91 9891.603
02/28/93 10000 1498 19507 29507 3190 47356 59897 107253 31391 138644.34 10254.759
02/28/94 10000 1276 20783 30783 19347 45464 77406 122870 31449 154319.69 11889.036
02/28/95 10000 1595 22378 32378 11530 43012 85161 128173 31405 159578.31 12994.976
02/29/96 10000 2236 24614 34614 15692 50438 116634 167072 39238 206310.96 14327.15
TOTAL $89,165
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 6.57 5.75 % 1522.07 6.19 9422
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/79 10000 190 190 10190 0 12648 0 12648 248 12896.21 1551.891
02/29/80 10000 248 438 10438 0 18326 0 18326 696 19022.95 1579.979
02/28/81 10000 411 849 10849 1011 20259 1399 21658 1338 22996.94 1727.794
02/28/82 10000 1471 2320 12320 2436 17930 3618 21548 2637 24185.3 4106.163
02/28/83 10000 698 3018 13018 370 24688 5520 30208 4647 34855.42 4297.832
02/29/84 10000 903 3921 13921 0 24323 5438 29761 5475 35236.6 4410.088
02/28/85 10000 1103 5024 15024 485 26971 6597 33568 7361 40929.11 4619.538
02/28/86 10000 878 5902 15902 1109 31507 9111 40618 9710 50328.66 4862.672
02/28/87 10000 924 6826 16826 6327 35677 17829 53506 12094 65600.1 5597.278
02/29/88 10000 1712 8538 18538 3948 31568 19624 51192 12350 63542.63 6127.544
02/28/89 10000 1796 10334 20334 2422 32359 22724 55083 14579 69662.47 6553.384
02/28/90 10000 1792 12126 22126 6503 33090 29653 62743 16674 79417.47 7306.115
02/28/91 10000 1867 13993 23993 5280 35221 37584 72805 19921 92726.17 8014.362
02/29/92 10000 1223 15216 25216 3728 40274 47213 87487 24161 111648.8 8439.063
02/28/93 10000 1278 16494 26494 2722 41157 51101 92258 26027 118285.03 8748.893
02/28/94 10000 1088 17582 27582 16506 39513 66039 105552 26106 131658.52 10143.183
02/28/95 10000 1361 18943 28943 9837 37382 72655 110037 26107 136144.93 11086.721
02/29/96 10000 1907 20850 30850 13388 43836 99507 143343 32672 176015.09 12223.27
TOTAL $76,072
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 8.82 5.75 %1133.787 8.31 9422
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/80 10000 181 181 10181 0 13651 0 13651 246 13897.87 1154.308
02/28/81 10000 300 481 10481 739 15091 1022 16113 688 16801.21 1262.3
02/28/82 10000 1075 1556 11556 1780 13356 2643 15999 1670 17669.42 2999.901
02/28/83 10000 510 2066 12066 270 18390 4032 22422 3042 25464.84 3139.931
02/29/84 10000 659 2725 12725 0 18118 3973 22091 3652 25743.34 3221.945
02/28/85 10000 805 3530 13530 354 20091 4820 24911 4991 29902.2 3374.966
02/28/86 10000 641 4171 14171 810 23469 6656 30125 6644 36769.36 3552.595
02/28/87 10000 675 4846 14846 4622 26576 13026 39602 8324 47926.43 4089.286
02/29/88 10000 1250 6096 16096 2884 23515 14337 37852 8571 46423.29 4476.691
02/28/89 10000 1313 7409 17409 1770 24104 16602 40706 10188 50894.36 4787.804
02/28/90 10000 1309 8718 18718 4751 24649 21664 46313 11708 58021.2 5337.737
02/28/91 10000 1365 10083 20083 3857 26236 27458 53694 14050 67744.33 5855.171
02/29/92 10000 894 10977 20977 2724 30000 34493 64493 17075 81568.93 6165.452
02/28/93 10000 934 11911 21911 1989 30658 37334 67992 18425 86417.24 6391.808
02/28/94 10000 795 12706 22706 12059 29433 48247 77680 18507 96187.72 7410.456
02/28/95 10000 995 13701 23701 7187 27846 53081 80927 18538 99465.42 8099.79
02/29/96 10000 1394 15095 25095 9781 32653 72698 105351 23242 128593.96 8930.136
TOTAL $55,577
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 12.77 5.75 % 783.085 12.04 9428
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/81 10000 204 204 10204 501 10423 693 11116 281 11397.97 856.346
02/28/82 10000 729 933 10933 1207 9225 1793 11018 968 11986.95 2035.136
02/28/83 10000 346 1279 11279 183 12702 2736 15438 1837 17275.37 2130.132
02/29/84 10000 447 1726 11726 0 12514 2695 15209 2255 17464.3 2185.77
02/28/85 10000 546 2272 12272 240 13876 3270 17146 3139 20285.67 2289.579
02/28/86 10000 435 2707 12707 550 16210 4516 20726 4218 24944.36 2410.083
02/28/87 10000 458 3165 13165 3136 18356 8837 27193 5320 32513.33 2774.175
02/29/88 10000 848 4013 14013 1957 16241 9726 25967 5526 31493.59 3036.99
02/28/89 10000 891 4904 14904 1200 16648 11263 27911 6615 34526.75 3248.048
02/28/90 10000 888 5792 15792 3223 17024 14697 31721 7640 39361.61 3621.123
02/28/91 10000 926 6718 16718 2617 18121 18628 36749 9208 45957.78 3972.15
02/29/92 10000 606 7324 17324 1848 20720 23400 44120 11216 55336.37 4182.643
02/28/93 10000 633 7957 17957 1349 21175 25327 46502 12123 58625.48 4336.204
02/28/94 10000 539 8496 18496 8181 20329 32731 53060 12193 65253.76 5027.254
02/28/95 10000 674 9170 19170 4876 19233 36010 55243 12234 67477.34 5494.897
02/29/96 10000 946 10116 20116 6635 22553 49318 71871 15367 87238.12 6058.203
TOTAL $37,703
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 14.12 5.75 % 708.215 13.31 9426
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/82 10000 603 603 10603 999 8343 975 9318 595 9913.44 1683.096
02/28/83 10000 286 889 10889 151 11487 1564 13051 1236 14287.08 1761.662
02/29/84 10000 370 1259 11259 0 11317 1540 12857 1586 14443.33 1807.676
02/28/85 10000 452 1711 11711 199 12550 1941 14491 2285 16776.66 1893.528
02/28/86 10000 360 2071 12071 454 14660 2843 17503 3126 20629.49 1993.187
02/28/87 10000 379 2450 12450 2593 16601 6298 22899 3990 26889.17 2294.298
02/29/88 10000 701 3151 13151 1618 14688 7150 21838 4207 26045.83 2511.652
02/28/89 10000 736 3887 13887 993 15057 8399 23456 5098 28554.33 2686.202
02/28/90 10000 735 4622 14622 2665 15397 11218 26615 5937 32552.86 2994.743
02/28/91 10000 766 5388 15388 2164 16388 14409 30797 7211 38008.03 3285.05
02/29/92 10000 502 5890 15890 1528 18739 18212 36951 8813 45764.34 3459.134
02/28/93 10000 523 6413 16413 1116 19150 19781 38931 9553 48484.49 3586.131
02/28/94 10000 446 6859 16859 6766 18385 25951 44336 9630 53966.22 4157.644
02/28/95 10000 558 7417 17417 4032 17394 28723 46117 9688 55805.18 4544.396
02/29/96 10000 782 8199 18199 5488 20397 39547 59944 12203 72147.79 5010.263
TOTAL $30,766
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 6.25 5.75 % 1600 5.89 9424
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/83 10000 272 272 10272 144 12976 210 13186 395 13581.7 1674.686
02/29/84 10000 352 624 10624 0 12784 207 12991 739 13730.23 1718.427
02/28/85 10000 430 1054 11054 189 14176 450 14626 1322 15948.37 1800.042
02/28/86 10000 342 1396 11396 432 16560 1073 17633 1977 19610.99 1894.782
02/28/87 10000 360 1756 11756 2465 18752 4142 22894 2667 25561.64 2181.027
02/29/88 10000 667 2423 12423 1538 16592 5165 21757 3002 24759.92 2387.649
02/28/89 10000 700 3123 13123 944 17008 6311 23319 3825 27144.56 2553.58
02/28/90 10000 699 3822 13822 2534 17392 8953 26345 4600 30945.66 2846.887
02/28/91 10000 727 4549 14549 2057 18512 11876 30388 5743 36131.48 3122.859
02/29/92 10000 477 5026 15026 1453 21168 15230 36398 7106 43504.84 3288.348
02/28/93 10000 498 5524 15524 1061 21632 16676 38308 7782 46090.69 3409.075
02/28/94 10000 423 5947 15947 6432 20768 22626 43394 7907 51301.8 3952.373
02/28/95 10000 531 6478 16478 3833 19648 25372 45020 8029 53049.98 4320.031
02/29/96 10000 743 7221 17221 5217 23040 35327 58367 10218 68585.72 4762.897
TOTAL $28,299
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 8.6 5.75 %1162.791 8.11 9430
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/84 10000 244 244 10244 0 9291 0 9291 242 9533.37 1193.163
02/28/85 10000 298 542 10542 131 10302 153 10455 618 11073.49 1249.83
02/28/86 10000 237 779 10779 300 12035 559 12594 1022 13616.57 1315.611
02/28/87 10000 250 1029 11029 1712 13628 2666 16294 1454 17748.31 1514.361
02/29/88 10000 463 1492 11492 1068 12058 3400 15458 1733 17191.65 1657.825
02/28/89 10000 486 1978 11978 655 12360 4191 16551 2296 18847.38 1773.037
02/28/90 10000 485 2463 12463 1759 12640 6021 18661 2825 21486.61 1976.689
02/28/91 10000 505 2968 12968 1429 13453 8038 21491 3596 25087.32 2168.308
02/29/92 10000 331 3299 13299 1009 15384 10337 25721 4485 30206.89 2283.212
02/28/93 10000 345 3644 13644 736 15721 11336 27057 4945 32002.33 2367.036
02/28/94 10000 294 3938 13938 4466 15093 15477 30570 5050 35620.57 2744.266
02/28/95 10000 368 4306 14306 2661 14279 17396 31675 5159 36834.38 2999.542
02/29/96 10000 516 4822 14822 3622 16744 24270 41014 6607 47621.36 3307.039
TOTAL $19,548
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 8.48 5.75 %1179.245 7.99 9422
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/85 10000 295 295 10295 130 10448 152 10600 344 10944.32 1235.251
02/28/86 10000 235 530 10530 296 12205 553 12758 699 13457.73 1300.264
02/28/87 10000 247 777 10777 1692 13821 2635 16456 1085 17541.25 1496.694
02/29/88 10000 457 1234 11234 1056 12229 3360 15589 1402 16991.09 1638.485
02/28/89 10000 480 1714 11714 648 12535 4142 16677 1950 18627.51 1752.353
02/28/90 10000 480 2194 12194 1739 12818 5951 18769 2466 21235.96 1953.63
02/28/91 10000 500 2694 12694 1412 13644 7944 21588 3206 24794.65 2143.012
02/29/92 10000 327 3021 13021 997 15601 10217 25818 4036 29854.47 2256.574
02/28/93 10000 341 3362 13362 728 15943 11204 27147 4481 31628.97 2339.421
02/28/94 10000 291 3653 13653 4414 15307 15296 30603 4601 35204.98 2712.248
02/28/95 10000 364 4017 14017 2630 14481 17193 31674 4730 36404.62 2964.546
02/29/96 10000 510 4527 14527 3580 16981 23987 40968 6097 47065.75 3268.455
TOTAL $19,322
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 9.4 5.75 % 1063.83 8.86 9426
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/86 10000 202 202 10202 255 11011 323 11334 256 11590.16 1119.822
02/28/87 10000 213 415 10415 1457 12468 2096 14564 543 15107.01 1288.994
02/29/88 10000 394 809 10809 909 11032 2741 13773 860 14633.2 1411.109
02/28/89 10000 414 1223 11223 558 11309 3410 14719 1323 16042.54 1509.176
02/28/90 10000 412 1635 11635 1498 11564 4965 16529 1760 18289.03 1682.523
02/28/91 10000 430 2065 12065 1216 12309 6671 18980 2373 21353.89 1845.626
02/29/92 10000 281 2346 12346 859 14074 8604 22678 3033 25711.58 1943.43
02/28/93 10000 294 2640 12640 627 14383 9450 23833 3406 27239.84 2014.781
02/28/94 10000 251 2891 12891 3801 13809 12983 26792 3527 30319.63 2335.873
02/28/95 10000 314 3205 13205 2265 13064 14626 27690 3662 31352.82 2553.161
02/29/96 10000 440 3645 13645 3083 15319 20446 35765 4769 40534.5 2814.896
TOTAL $16,528
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10.98 5.75 % 910.747 10.35 9426
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/87 10000 173 173 10173 1185 10674 1407 12081 205 12286.47 1048.334
02/29/88 10000 321 494 10494 739 9444 1966 11410 491 11901.12 1147.649
02/28/89 10000 337 831 10831 454 9681 2504 12185 862 13047.33 1227.406
02/28/90 10000 336 1167 11167 1218 9900 3762 13662 1212 14874.37 1368.387
02/28/91 10000 349 1516 11516 989 10537 5132 15669 1698 17367.01 1501.038
02/29/92 10000 229 1745 11745 698 12049 6661 18710 2201 20911.09 1580.581
02/28/93 10000 239 1984 11984 510 12313 7342 19655 2499 22154.01 1638.61
02/28/94 10000 204 2188 12188 3091 11821 10229 22050 2608 24658.78 1899.752
02/28/95 10000 255 2443 12443 1842 11184 11583 22767 2732 25499.06 2076.471
02/29/96 10000 357 2800 12800 2507 13115 16263 29378 3588 32966.47 2289.338
TOTAL $13,233
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 12.44 5.75 % 803.859 11.72 9421
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/88 10000 246 246 10246 567 8336 553 8889 236 9125.76 880.015
02/28/89 10000 258 504 10504 348 8545 941 9486 518 10004.66 941.172
02/28/90 10000 257 761 10761 934 8738 1884 10622 783 11405.63 1049.276
02/28/91 10000 268 1029 11029 758 9301 2870 12171 1145 13316.98 1150.992
02/29/92 10000 176 1205 11205 535 10635 3890 14525 1509 16034.57 1211.986
02/28/93 10000 183 1388 11388 391 10868 4385 15253 1734 16987.65 1256.483
02/28/94 10000 156 1544 11544 2371 10434 6648 17082 1826 18908.29 1456.725
02/28/95 10000 196 1740 11740 1413 9871 7752 17623 1929 19552.61 1592.232
02/29/96 10000 274 2014 12014 1923 11576 11145 22721 2557 25278.61 1755.459
TOTAL $9,240
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 11 5.75 % 909.091 10.37 9427
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/89 10000 267 267 10267 359 9664 387 10051 284 10335.24 972.271
02/28/90 10000 266 533 10533 965 9882 1348 11230 552 11782.5 1083.947
02/28/91 10000 277 810 10810 783 10518 2328 12846 911 13757.01 1189.024
02/29/92 10000 182 992 10992 553 12027 3290 15317 1247 16564.41 1252.034
02/28/93 10000 189 1181 11181 404 12291 3786 16077 1471 17548.96 1298
02/28/94 10000 162 1343 11343 2449 11800 6154 17954 1579 19533.08 1504.86
02/28/95 10000 202 1545 11545 1459 11164 7332 18496 1702 20198.7 1644.845
02/29/96 10000 283 1828 11828 1986 13091 10720 23811 2302 26113.88 1813.464
TOTAL $8,958
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 11.28 5.75 % 886.525 10.63 9424
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/90 10000 243 243 10243 880 9637 868 10505 238 10743.4 988.353
02/28/91 10000 252 495 10495 714 10257 1738 11995 548 12543.75 1084.162
02/29/92 10000 166 661 10661 504 11729 2561 14290 813 15103.57 1141.615
02/28/93 10000 173 834 10834 368 11986 3003 14989 1012 16001.29 1183.527
02/28/94 10000 147 981 10981 2233 11507 5180 16687 1123 17810.42 1372.143
02/28/95 10000 185 1166 11166 1331 10887 6277 17164 1253 18417.32 1499.782
02/29/96 10000 258 1424 11424 1811 12766 9297 22063 1747 23810.86 1653.532
TOTAL $7,841
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 11.53 5.75 % 867.303 10.87 9428
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/91 10000 221 221 10221 627 10035 715 10750 257 11007.47 951.38
02/29/92 10000 146 367 10367 443 11474 1320 12794 459 13253.76 1001.796
02/28/93 10000 152 519 10519 323 11726 1688 13414 627 14041.55 1038.576
02/28/94 10000 129 648 10648 1959 11258 3636 14894 735 15629.1 1204.091
02/28/95 10000 161 809 10809 1168 10650 4648 15298 863 16161.67 1316.097
02/29/96 10000 227 1036 11036 1589 12489 7149 19638 1256 20894.64 1451.017
TOTAL $6,109
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 12.28 5.75 % 814.332 11.57 9422
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/92 10000 124 124 10124 379 10774 430 11204 140 11344.53 857.485
02/28/93 10000 130 254 10254 277 11010 730 11740 278 12018.85 888.968
02/28/94 10000 110 364 10364 1677 10570 2426 12996 381 13377.72 1030.641
02/28/95 10000 139 503 10503 1000 10000 3329 13329 504 13833.59 1126.514
02/29/96 10000 194 697 10697 1360 11726 5358 17084 800 17884.79 1241.999
TOTAL $4,693
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 14.04 5.75 % 712.251 13.23 9423
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/93 10000 107 107 10107 230 9630 241 9871 112 9983.18 738.401
02/28/94 10000 92 199 10199 1393 9245 1664 10909 202 11111.89 856.078
02/28/95 10000 115 314 10314 830 8746 2433 11179 311 11490.54 935.712
02/29/96 10000 161 475 10475 1130 10256 4061 14317 538 14855.56 1031.636
TOTAL $3,583
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 14.34 5.75 % 697.35 13.52 9428
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/94 10000 87 87 10087 1316 9052 1353 10405 89 10494.14 808.485
02/28/95 10000 108 195 10195 784 8563 2092 10655 196 10851.73 883.691
02/29/96 10000 152 347 10347 1067 10042 3593 13635 394 14029.68 974.283
TOTAL $3,167
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 13.77 5.75 % 726.216 12.98 9426
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/95 10000 97 97 10097 704 8918 729 9647 100 9747.5 793.77
02/29/96 10000 137 234 10234 959 10458 1879 12337 265 12602.06 875.143
TOTAL $1,663
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 13.03 5.75 % 767.46 12.28 9424
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/96 10000 132 132 10132 927 11051 991 12042 142 12184.36 846.136
TOTAL $927
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 15.28 5.75 % 654.45 14.4 9424
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/96 10000 0 0 10000 0 9424 0 9424 0 9424.08 654.45
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10.98 5.75 % 910.747 10.35 9426
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/87 10000 173 173 10173 1185 10674 1407 12081 205 12286.47 1048.334
02/29/88 10000 321 494 10494 739 9444 1966 11410 491 11901.12 1147.649
02/28/89 10000 337 831 10831 454 9681 2504 12185 862 13047.33 1227.406
02/28/90 10000 336 1167 11167 1218 9900 3762 13662 1212 14874.37 1368.387
02/28/91 10000 349 1516 11516 989 10537 5132 15669 1698 17367.01 1501.038
02/29/92 10000 229 1745 11745 698 12049 6661 18710 2201 20911.09 1580.581
02/28/93 10000 239 1984 11984 510 12313 7342 19655 2499 22154.01 1638.61
02/28/94 10000 204 2188 12188 3091 11821 10229 22050 2608 24658.78 1899.752
02/28/95 10000 255 2443 12443 1842 11184 11583 22767 2732 25499.06 2076.471
02/29/96 10000 357 2800 12800 2507 13115 16263 29378 3588 32966.47 2289.338
TOTAL $13,233
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
DOW JONES INDUSTRIAL AVERAGE
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASED PER SHAVALUE
******** 10000 1709.06 0 % 5.851 1710000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'NINV'M'REINV'DTOTAL REINV'VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C>
02/28/87 10000 398 398 10398 0 13013 0 13013 479 13492.95 6.067
02/29/88 10000 437 835 10835 0 12121 0 12121 855 12976.63 6.264
02/28/89 10000 506 1341 11341 0 13214 0 13214 1485 14699.86 6.509
02/28/90 10000 681 2022 12022 0 15372 0 15372 2432 17804.87 6.777
02/28/91 10000 712 2734 12734 0 16864 0 16864 3438 20302.08 7.044
02/29/92 10000 679 3413 13413 0 19119 0 19119 4646 23765.76 7.273
02/28/93 10000 741 4154 14154 0 19723 0 19723 5547 25270.96 7.497
02/28/94 10000 756 4910 14910 0 22422 0 22422 7122 29544.87 7.71
02/28/95 10000 838 5748 15748 0 23469 0 23469 8342 31811.64 7.931
02/29/96 10000 934 6682 16682 0 32097 0 32097 12544 44641.98 8.138
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
STANDARD 500 COMPOSITE INDEX
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 226.92 0 % 44.068 226.92 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/87 10000 369 369 10369 0 12524 0 12524 431 12955.26 45.585
02/29/88 10000 406 775 10775 0 11802 0 11802 796 12598.52 47.041
02/28/89 10000 464 1239 11239 0 12730 0 12730 1362 14092.04 48.785
02/28/90 10000 547 1786 11786 0 14626 0 14626 2121 16747.17 50.46
02/28/91 10000 619 2405 12405 0 16176 0 16176 3026 19202.17 52.312
02/29/92 10000 646 3051 13051 0 18187 0 18187 4100 22287.04 54.003
02/28/93 10000 675 3726 13726 0 19539 0 19539 5121 24660.8 55.62
02/28/94 10000 708 4434 14434 0 20586 0 20586 6122 26708.73 57.175
02/28/95 10000 762 5196 15196 0 21478 0 21478 7190 28668.28 58.82
02/29/96 10000 820 6016 16016 0 28223 0 28223 10409 38632.02 60.322
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/87 10000 692 692 10692 0 10000 0 10000 692 10692.28 1069.228
02/29/88 10000 660 1352 11352 0 10000 0 10000 1352 11352.87 1135.287
02/28/89 10000 742 2094 12094 0 10000 0 10000 2095 12095.88 1209.588
02/28/90 10000 908 3002 13002 0 10000 0 10000 3003 13003.35 1300.335
02/28/91 10000 936 3938 13938 0 10000 0 10000 3937 13937.76 1393.776
02/29/92 10000 850 4788 14788 0 10000 0 10000 4788 14788.67 1478.867
02/28/93 10000 611 5399 15399 0 10000 0 10000 5399 15399.81 1539.981
02/28/94 10000 490 5889 15889 0 10000 0 10000 5889 15889.09 1588.909
02/28/95 10000 506 6395 16395 0 10000 0 10000 6393 16393.92 1639.392
02/29/96 10000 514 6909 16909 0 10000 0 10000 6908 16908.07 1690.807
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/86 10000 812 812 10812 0 10000 0 10000 810 10810.53 1081.053
02/28/87 10000 749 1561 11561 0 10000 0 10000 1558 11558.93 1155.893
02/29/88 10000 715 2276 12276 0 10000 0 10000 2273 12273.07 1227.307
02/28/89 10000 803 3079 13079 0 10000 0 10000 3076 13076.31 1307.631
02/28/90 10000 981 4060 14060 0 10000 0 10000 4057 14057.33 1405.733
02/28/91 10000 1010 5070 15070 0 10000 0 10000 5067 15067.48 1506.748
02/29/92 10000 920 5990 15990 0 10000 0 10000 5987 15987.34 1598.734
02/28/93 10000 661 6651 16651 0 10000 0 10000 6648 16648.03 1664.803
02/28/94 10000 530 7181 17181 0 10000 0 10000 7176 17176.97 1717.697
02/28/95 10000 546 7727 17727 0 10000 0 10000 7722 17722.71 1772.271
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/85 10000 956 956 10956 0 10000 0 10000 956 10956.52 1095.652
02/28/86 10000 889 1845 11845 0 10000 0 10000 1844 11844.59 1184.459
02/28/87 10000 820 2665 12665 0 10000 0 10000 2664 12664.57 1266.457
02/29/88 10000 782 3447 13447 0 10000 0 10000 3447 13447.01 1344.701
02/28/89 10000 880 4327 14327 0 10000 0 10000 4327 14327.09 1432.709
02/28/90 10000 1074 5401 15401 0 10000 0 10000 5401 15401.95 1540.195
02/28/91 10000 1107 6508 16508 0 10000 0 10000 6508 16508.71 1650.871
02/29/92 10000 1008 7516 17516 0 10000 0 10000 7516 17516.56 1751.656
02/28/93 10000 724 8240 18240 0 10000 0 10000 8240 18240.44 1824.044
02/28/94 10000 579 8819 18819 0 10000 0 10000 8819 18819.97 1881.997
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/84 10000 918 918 10918 0 10000 0 10000 918 10918.02 1091.802
02/28/85 10000 1044 1962 11962 0 10000 0 10000 1962 11962.34 1196.234
02/28/86 10000 970 2932 12932 0 10000 0 10000 2931 12931.93 1293.193
02/28/87 10000 895 3827 13827 0 10000 0 10000 3827 13827.18 1382.718
02/29/88 10000 854 4681 14681 0 10000 0 10000 4681 14681.44 1468.144
02/28/89 10000 961 5642 15642 0 10000 0 10000 5642 15642.31 1564.231
02/28/90 10000 1173 6815 16815 0 10000 0 10000 6815 16815.84 1681.584
02/28/91 10000 1208 8023 18023 0 10000 0 10000 8024 18024.22 1802.422
02/29/92 10000 1100 9123 19123 0 10000 0 10000 9124 19124.6 1912.46
02/28/93 10000 792 9915 19915 0 10000 0 10000 9914 19914.92 1991.492
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/83 10000 1086 1086 11086 0 10000 0 10000 1085 11085.58 1108.558
02/29/84 10000 1018 2104 12104 0 10000 0 10000 2103 12103.25 1210.325
02/28/85 10000 1158 3262 13262 0 10000 0 10000 3260 13260.94 1326.094
02/28/86 10000 1075 4337 14337 0 10000 0 10000 4335 14335.78 1433.578
02/28/87 10000 992 5329 15329 0 10000 0 10000 5328 15328.22 1532.822
02/29/88 10000 947 6276 16276 0 10000 0 10000 6275 16275.23 1627.523
02/28/89 10000 1065 7341 17341 0 10000 0 10000 7340 17340.41 1734.041
02/28/90 10000 1300 8641 18641 0 10000 0 10000 8641 18641.34 1864.134
02/28/91 10000 1340 9981 19981 0 10000 0 10000 9980 19980.88 1998.088
02/29/92 10000 1220 11201 21201 0 10000 0 10000 11200 21200.71 2120.071
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/82 10000 1098 1098 11098 0 10000 0 10000 1098 11098.56 1109.856
02/28/83 10000 1205 2303 12303 0 10000 0 10000 2303 12303.4 1230.34
02/29/84 10000 1129 3432 13432 0 10000 0 10000 3432 13432.87 1343.287
02/28/85 10000 1284 4716 14716 0 10000 0 10000 4717 14717.74 1471.774
02/28/86 10000 1193 5909 15909 0 10000 0 10000 5910 15910.66 1591.066
02/28/87 10000 1101 7010 17010 0 10000 0 10000 7012 17012.12 1701.212
02/29/88 10000 1052 8062 18062 0 10000 0 10000 8063 18063.16 1806.316
02/28/89 10000 1183 9245 19245 0 10000 0 10000 9245 19245.35 1924.535
02/28/90 10000 1444 10689 20689 0 10000 0 10000 10689 20689.19 2068.919
02/28/91 10000 1486 12175 22175 0 10000 0 10000 12175 22175.89 2217.589
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/81 10000 891 891 10891 0 10000 0 10000 891 10891.33 1089.133
02/28/82 10000 1197 2088 12088 0 10000 0 10000 2087 12087.8 1208.78
02/28/83 10000 1312 3400 13400 0 10000 0 10000 3400 13400.05 1340.005
02/29/84 10000 1230 4630 14630 0 10000 0 10000 4630 14630.2 1463.02
02/28/85 10000 1400 6030 16030 0 10000 0 10000 6029 16029.59 1602.959
02/28/86 10000 1299 7329 17329 0 10000 0 10000 7328 17328.84 1732.884
02/28/87 10000 1198 8527 18527 0 10000 0 10000 8528 18528.48 1852.848
02/29/88 10000 1145 9672 19672 0 10000 0 10000 9673 19673.2 1967.32
02/28/89 10000 1287 10959 20959 0 10000 0 10000 10960 20960.76 2096.076
02/28/90 10000 1574 12533 22533 0 10000 0 10000 12533 22533.29 2253.329
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/29/80 10000 743 743 10743 0 10000 0 10000 742 10742.84 1074.284
02/28/81 10000 958 1701 11701 0 10000 0 10000 1700 11700.39 1170.039
02/28/82 10000 1285 2986 12986 0 10000 0 10000 2985 12985.74 1298.574
02/28/83 10000 1410 4396 14396 0 10000 0 10000 4395 14395.45 1439.545
02/29/84 10000 1322 5718 15718 0 10000 0 10000 5716 15716.97 1571.697
02/28/85 10000 1503 7221 17221 0 10000 0 10000 7220 17220.32 1722.032
02/28/86 10000 1395 8616 18616 0 10000 0 10000 8616 18616.08 1861.608
02/28/87 10000 1288 9904 19904 0 10000 0 10000 9904 19904.84 1990.484
02/29/88 10000 1230 11134 21134 0 10000 0 10000 11134 21134.6 2113.46
02/28/89 10000 1384 12518 22518 0 10000 0 10000 12517 22517.82 2251.782
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/79 10000 642 642 10642 0 10000 0 10000 641 10641.9 1064.19
02/29/80 10000 790 1432 11432 0 10000 0 10000 1432 11432.42 1143.242
02/28/81 10000 1019 2451 12451 0 10000 0 10000 2451 12451.43 1245.143
02/28/82 10000 1367 3818 13818 0 10000 0 10000 3819 13819.3 1381.93
02/28/83 10000 1501 5319 15319 0 10000 0 10000 5319 15319.51 1531.951
02/29/84 10000 1406 6725 16725 0 10000 0 10000 6725 16725.85 1672.585
02/28/85 10000 1599 8324 18324 0 10000 0 10000 8325 18325.7 1832.57
02/28/86 10000 1486 9810 19810 0 10000 0 10000 9811 19811.06 1981.106
02/28/87 10000 1372 11182 21182 0 10000 0 10000 11182 21182.53 2118.253
02/29/88 10000 1310 12492 22492 0 10000 0 10000 12491 22491.24 2249.124
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AVERAGE INCOME ACCOUNT
SALES NET ASSETINITIAL
INITIAL OFFERINGCHARGE SHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10 0 % 1000 10 10000
DIVIDENDS AND CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/78 10000 613 613 10613 0 10000 0 10000 612 10612.59 1061.259
02/28/79 10000 681 1294 11294 0 10000 0 10000 1293 11293.81 1129.381
02/29/80 10000 839 2133 12133 0 10000 0 10000 2132 12132.77 1213.277
02/28/81 10000 1081 3214 13214 0 10000 0 10000 3214 13214.2 1321.42
02/28/82 10000 1452 4666 14666 0 10000 0 10000 4665 14665.85 1466.585
02/28/83 10000 1593 6259 16259 0 10000 0 10000 6257 16257.96 1625.796
02/29/84 10000 1493 7752 17752 0 10000 0 10000 7750 17750.46 1775.046
02/28/85 10000 1698 9450 19450 0 10000 0 10000 9448 19448.32 1944.832
02/28/86 10000 1577 11027 21027 0 10000 0 10000 11024 21024.67 2102.467
02/28/87 10000 1456 12483 22483 0 10000 0 10000 12480 22480.17 2248.017
TOTAL $0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AMCAP FUND, INC.
SALES NET ASSET INITIAL
INIOFFER CHARGESHARES VALUE NET ASSET
DATE INVESTMENT PRICE INCLUDED PURCHASEDPER SHARE VALUE
******** 10000 10.98 5.75 % 910.747 10.35 9426
DIVIDENDS TAKEN IN CASH -- CAPITAL GAINS REINVESTED
============COST OF SHARES============================VALUE OF SHARES=====================
CURRENCUM. TOTAL CURRENT FROM FROM
CUM INCOMEINCOMEINVM'T CAP GAIN FROM CAP GAINSUB- DIVS TOTAL SHARES
DATE INV'M'T DIVS DIVS COST DISTRIB'N INV'MREINV'DTOTAL REINV'D VALUE HELD
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/28/87 10000 173 173 10000 1174 10674 1394 12068 0 12068.52 1029.737
02/29/88 10000 313 486 10000 721 9444 1936 11380 0 11380.86 1097.479
02/28/89 10000 320 806 10000 430 9681 2448 12129 0 12129.71 1141.083
02/28/90 10000 311 1117 10000 1129 9900 3617 13517 0 13517.9 1243.597
02/28/91 10000 317 1434 10000 896 10537 4873 15410 0 15410.4 1331.927
02/29/92 10000 203 1637 10000 619 12049 6275 18324 0 18324.44 1385.067
02/28/93 10000 209 1846 10000 446 12313 6880 19193 0 19193.6 1419.645
02/28/94 10000 176 2022 10000 2672 11821 9354 21175 0 21175.92 1631.427
02/28/95 10000 219 2241 10000 1580 11184 10484 21668 0 21668.13 1764.506
02/29/96 10000 303 2544 10000 2124 13115 14563 27678 0 27678.74 1922.135
TOTAL $11,791
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-29-1996
<PERIOD-START> MAR-1-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 2,504,771
<INVESTMENTS-AT-VALUE> 3,735,493
<RECEIVABLES> 6,537
<ASSETS-OTHER> 126
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,742,156
<PAYABLE-FOR-SECURITIES> 42,467
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,859
<TOTAL-LIABILITIES> 49,326
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,078,295
<SHARES-COMMON-STOCK> 256,366,346
<SHARES-COMMON-PRIOR> 241,866,998
<ACCUMULATED-NII-CURRENT> 5,772
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 121,704
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,230,693
<NET-ASSETS> 3,692,830
<DIVIDEND-INCOME> 29,163
<INTEREST-INCOME> 33,329
<OTHER-INCOME> 0
<EXPENSES-NET> 23,658
<NET-INVESTMENT-INCOME> 38,834
<REALIZED-GAINS-CURRENT> 366,352
<APPREC-INCREASE-CURRENT> 448,727
<NET-CHANGE-FROM-OPS> 853,913
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 40,721
<DISTRIBUTIONS-OF-GAINS> 284,911
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 36,019,892
<NUMBER-OF-SHARES-REDEEMED> 44,261,999
<SHARES-REINVESTED> 22,741,455
<NET-CHANGE-IN-ASSETS> 722,715
<ACCUMULATED-NII-PRIOR> 7,659
<ACCUMULATED-GAINS-PRIOR> 40,263
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 13,418
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 23,658
<AVERAGE-NET-ASSETS> 3,341,490
<PER-SHARE-NAV-BEGIN> 12.28
<PER-SHARE-NII> .16
<PER-SHARE-GAIN-APPREC> 3.32
<PER-SHARE-DIVIDEND> .17
<PER-SHARE-DISTRIBUTIONS> 1.19
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.40
<EXPENSE-RATIO> .007
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
