NEW PERSPECTIVE FUND INC, 497, 1998-03-03

NEW PERSPECTIVE FUND INC
497, 1998-03-03

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THE FUND PROVIDES SPANISH TRANSLATIONS IN CONNECTION WITH THE PUBLIC OFFERING
AND SALE OF ITS SHARES. THE FOLLOWING IS A FAIR AND ACCURATE ENGLISH
TRANSLATION OF A SPANISH LANGUAGE PROSPECTUS FOR THE FUND.

/s/ Chad L. Norton
Chad L. Norton, Secretary

[LOGO APPEARS HERE]

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New Perspective Fund(R)

Prospectus

DECEMBER 1, 1997

<PAGE>

NEW PERSPECTIVE FUND, INC.
333 South Hope Street
Los Angeles, CA 90071
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TABLE OF CONTENTS

<TABLE>
<S> <C>
Expenses 3 Investment Results 9
.................................. .......................................
Financial Highlights 4 Dividends, Distributions and Taxes 10
.................................. .......................................
Investment Policies and Risks 5 Fund Organization and Management 11
.................................. .......................................
Securities and Investment Shareholder Services 14
Techniques 6
..................................
Multiple Portfolio Counselor
System 8
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</TABLE>

The primary investment objective of the fund is long-term growth of capital.
Future income is a secondary objective. In seeking to meet these investment
objectives, the fund normally invests on a global basis in a diversified
portfolio consisting primarily of common stocks.

This prospectus presents information you should know before investing in the
fund. You should keep it on file for future reference.

YOU MAY LOSE MONEY BY INVESTING IN THE FUND. THE LIKELIHOOD OF LOSS IS GREATER
IF YOU INVEST FOR A SHORTER PERIOD OF TIME. YOUR INVESTMENT IN THE FUND IS NOT
A DEPOSIT OR OBLIGATION OF, OR INSURED OR GUARANTEED BY, ANY ENTITY OR PERSON
INCLUDING THE U.S. GOVERNMENT AND THE FEDERAL DEPOSIT INSURANCE CORPORATION.

THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION PASSED UPON
THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY
IS A CRIMINAL OFFENSE.

07-010-1297

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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EXPENSES
The effect of the expenses described below is reflected in the fund's share
price and return.

You may pay certain shareholder transaction expenses when you buy or sell
shares of the fund. Fund operating expenses are paid out of the fund's assets
and are factored into its share price.

SHAREHOLDER TRANSACTION EXPENSES

Maximum sales charge on purchases
(as a percentage of offering price) 5.75%
................................................................................

SALES CHARGES ARE REDUCED OR ELIMINATED FOR LARGER PURCHASES. There is no sales
charge on reinvested dividends, and no deferred sales charge or redemption or
exchange fees. A contingent deferred sales charge of 1% applies on certain
redemptions made within 12 months following purchases without a sales charge.

FUND OPERATING EXPENSES
(as a percentage of average net assets)

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Management fees 0.42%
................................................................................
12b-1 expenses 0.23%/1/
................................................................................
Other expenses 0.14%
................................................................................
Total fund operating expenses 0.79%

1 12b-1 expenses may not exceed 0.25% of the fund's average net assets
annually.

EXAMPLES

Assuming a hypothetical annual return of 5% and shareholder transaction and
operating expenses as described above, for every $1,000 you invested, you would
pay the following total expenses over the following periods:
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One year $ 65
................................................................................
Three years $ 81
................................................................................
Five years $ 99
................................................................................
Ten years $150

THESE EXAMPLES ARE NOT MEANT TO REPRESENT YOUR ACTUAL INVESTMENT RESULTS OR
EXPENSES, WHICH MAY VARY. YOUR EXPENSES WILL BE LESS IF YOU QUALIFY TO PURCHASE
SHARES AT A REDUCED OR NO SALES CHARGE.

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NEW PERSPECTIVE FUND / PROSPECTUS
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FINANCIAL HIGHLIGHTS

The following information has been audited by Price Waterhouse llp, independent
accountants. This table should be read together with the financial statements
which are included in the statement of additional information and annual
report.

PER-SHARE DATA AND RATIOS
<TABLE>
<CAPTION>
YEAR ENDED SEPTEMBER 30
.......................
1997 1996 1995 1994 1993 1992 1991 1990 1989 1988
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Net asset value,
beginning of year $17.77 $16.98 $15.40 $14.21 $12.25 $11.77 $10.16 $11.96 $10.25 $13.73
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INCOME FROM INVESTMENT
OPERATIONS:
Net investment income .29 .32 .31 .22 .17 .21 .29 .27 .29 .26
...........................................................................................................
Net realized gain and
increase (decrease) in
unrealized
appreciation
on investments 4.81 1.40 2.35 1.54 2.04 .71 2.05 (.77) 2.37 (2.35)
...........................................................................................................
Total income (loss)
from investment
operations 5.10 1.72 2.66 1.76 2.21 .92 2.34 (.50) 2.66 (2.09)
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LESS DISTRIBUTIONS:
Dividends from net
investment income (.323) (.321) (.237) (.173) (.178) (.24) (.30) (.29) (.32) (.25)
...........................................................................................................
Dividends from net
realized non-U.S.
currency gains/1/ (.007) (.009) (.003) (.027) (.022) -- -- -- -- --
...........................................................................................................
Distributions from net
realized gains (.680) (.600) (.840) (.370) (.050) (.20) (.43) (1.01) (.63) (1.14)
...........................................................................................................
Total distributions (1.01) (.93) (1.08) (.57) (.25) (.44) (.73) (1.30) (.95) (1.39)
...........................................................................................................
Net asset value, end of
year $21.86 $17.77 $16.98 $15.40 $14.21 $12.25 $11.77 $10.16 $11.96 $10.25
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Total return/2/ 29.97% 10.64% 18.63% 12.61% 18.34% 8.04% 23.86% (4.88%) 27.99% (14.25%)
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RATIOS/SUPPLEMENTAL
DATA:
Net assets, end of year
(in millions) $16,956 $11,688 $8,817 $6,279 $4,417 $3,082 $2,213 $1,421 $1,230 $ 972
...........................................................................................................
Ratio of expenses to
average net assets .79% .82% .83% .84% .87% .85% .86% .82% .76% .69%
...........................................................................................................
Ratio of net income to
average net assets 1.56% 2.00% 2.12% 1.48% 1.40% 1.82% 2.80% 2.55% 2.69% 2.47%
...........................................................................................................
Average commissions
paid/3/ 0.50c 4.30c .72c 1.05c 1.74c 3.02c 4.04c 3.92c 3.11c 3.29c
...........................................................................................................
Portfolio turnover rate 25.68% 18.12% 22.40% 25.33% 15.02% 6.43% 8.16% 14.04% 29.21% 20.58%
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</TABLE>
1 Realized non-U.S. currency gains are treated as ordinary income for federal
income tax purposes.

2 Excludes maximum sales charge of 5.75%.

3 Brokerage commissions paid on portfolio transactions increase the cost of
securities purchased or reduce the proceeds of securities sold, and are not
separately reflected in the fund's statement of operations. Shares traded on
a principal basis (without commissions), such as most over-the-counter and
fixed-income transactions, are excluded. Generally, non-U.S. commissions are
lower than U.S. commissions when expressed as cents per share but higher when
expressed as a percentage of transactions because of the lower per-share
prices of many non-U.S. securities.

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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INVESTMENT POLICIES AND RISKS
The fund's primary investment objective is long-term growth of capital. Future
income is a secondary objective.

The fund's assets are invested on a global basis to take advantage of
investment opportunities generated by changes in international trade patterns
and economic and political relationships. International investing presents
risks and opportunities which you should consider. (See "Securities and
Investment Techniques--Investing in Various Countries.") The fund's success
depends largely upon the ability of its investment adviser, Capital Research
and Management Company, to foresee and respond to rapid, complex, and often
subtle changes in these patterns and relationships. Capital Research and
Management Company closely follows companies, industries, governments, and
securities and currency exchange markets worldwide.

The fund normally invests in a diversified portfolio consisting primarily of
common stocks. Assets may also be invested in securities convertible into
common stocks and straight debt securities (generally rated in the top three
quality categories by Standard & Poor's Corporation or Moody's Investors
Service, Inc. or determined to be of equivalent quality by Capital Research and
Management Company). The fund may also hold cash or cash equivalents,
government securities, or nonconvertible preferred stocks. These securities may
be issued by U.S. or non-U.S. entities and may be denominated in U.S. dollars
or other currencies. MORE INFORMATION ON THE FUND'S INVESTMENT POLICIES IS
CONTAINED IN ITS STATEMENT OF ADDITIONAL INFORMATION.

Investment limitations are considered at the time securities are purchased.
These limits are based on the fund's net assets unless otherwise indicated. The
fund's fundamental investment restrictions (described in the statement of
additional information) and objectives may not be changed without shareholder
approval.

THE FUND MAY NOT ACHIEVE ITS INVESTMENT OBJECTIVES DUE TO MARKET CONDITIONS AND
OTHER FACTORS. IN ADDITION, THE FUND MAY EXPERIENCE DIFFICULTY LIQUIDATING
CERTAIN PORTFOLIO SECURITIES DURING SIGNIFICANT MARKET DECLINES OR PERIODS OF
HEAVY REDEMPTIONS.

<PAGE>

EQUITY SECURITIES

Equity securities represent an ownership position in a company. The prices of
equity securities fluctuate based on changes in the financial condition of
their issuers and on market and economic conditions. The fund's results will be
related to the overall market for these securities. The growth-oriented,
equity-type securities generally purchased by the fund may involve large price
swings and potential for loss, particularly in the case of smaller
capitalization stocks.

DEBT SECURITIES

Bonds and other debt securities are used by issuers to borrow money. Issuers
pay investors interest and generally must repay the amount borrowed at
maturity. Some debt securities, such as zero coupon bonds, do not pay current
interest, but are purchased at a discount from their face values. The prices of
debt securities fluctuate depending on such factors as interest rates, credit
quality and maturity. In general their prices decline when interest rates rise
and vice versa.

OTHER SECURITIES

The fund may also invest in securities that have equity and debt
characteristics such as non-convertible preferred stocks and convertible
securities. These securities may at times resemble equity more than debt and
vice versa. Non-convertible preferred stocks are similar to debt in that they
have a stated dividend rate akin to the coupon of a bond or note even though
they are often classified as equity securities. The prices and yields of non-
convertible preferred stocks generally move with changes in interest rates and
the issuer's credit quality, similar to the factors affecting debt securities.

Bonds, preferred stocks, and other securities may sometimes be converted into
common stock or other securities at a stated exchange ratio. These securities
prior to conversion pay a fixed rate of interest or a dividend. Because
convertible securities have both debt and equity characteristics, their value
varies in response to many factors, including the value of the underlying
equity, general market and economic conditions, convertible market valuations,
as well as changes in interest rates, credit spreads, and the issuer's credit
quality.

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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INVESTING IN VARIOUS COUNTRIES

The fund has the ability to invest outside the U.S. Investing outside the U.S.
involves special risks, particularly in certain developing countries, caused
by, among other things, fluctuating currency values; different accounting,
auditing, and financial reporting regulations and practices in some countries;
changing local and regional economic, political, and social conditions;
expropriation or confiscatory taxation; greater market volatility; differing
securities market structures; and various administrative difficulties such as
delays in clearing and settling portfolio transactions or in receiving payment
of dividends. However, in the opinion of Capital Research and Management
Company, investing outside the U.S. also can reduce certain portfolio risks due
to greater diversification opportunities.

Additional costs could be incurred in connection with the fund's investment
activities outside the U.S. Brokerage commissions may be higher outside the
U.S., and the fund will bear certain expenses in connection with its currency
transactions. Furthermore, increased custodian costs may be associated with the
maintenance of assets in certain jurisdictions.

CURRENCY TRANSACTIONS

The fund can purchase and sell currencies to facilitate securities transactions
and enter into forward currency contracts to hedge against changes in currency
exchange rates. While entering into forward currency transactions could
minimize the risk of loss due to a decline in the value of the hedged currency,
it could also limit any potential gain which might result from an increase in
the value of the currency. The fund will not generally attempt to protect
against all potential changes in exchange rates.

RESTRICTED SECURITIES AND LIQUIDITY

The fund may purchase securities subject to restrictions on resale. All such
securities not actively traded outside the U.S. will be considered illiquid
unless they have been specifically determined to be liquid under procedures
which may be adopted by the fund's board of directors, taking into account
factors such as the frequency and volume of trading, the commitment of dealers
to make markets and the availability of qualified investors, all of which can
change from time to time. The fund may incur certain additional costs in
disposing of illiquid securities.

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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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 a fund is divided into segments which are managed by individual
counselors. Counselors decide how their respective segments will be invested
(within the limits provided by a fund's objective(s) and policies and by
Capital Research and Management Company's investment committee). In addition,
Capital Research and Management Company's research professionals may make
investment decisions with respect to a portion of a fund's portfolio.
The primary individual portfolio counselors for the fund are listed below.

<TABLE>
<CAPTION>
YEARS OF EXPERIENCE AS
INVESTMENT
PROFESSIONAL

(APPROXIMATE)
..................

YEARS OF EXPERIENCE
AS PORTFOLIO
COUNSELOR
(AND RESEARCH WITH CAPITAL
PORTFOLIO COUNSELORS PROFESSIONAL, IF RESEARCH AND
FOR APPLICABLE) FOR MANAGEMENT
NEW PERSPECTIVE NEW PERSPECTIVE FUND COMPANY OR TOTAL
FUND PRIMARY TITLE(S) (APPROXIMATE) ITS AFFILIATES YEARS
---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
WILLIAM R. Senior Vice 25 years (since the fund 28 years 35 years
GRIMSLEY President of the fund. began operations)
Senior Vice President and
Director, Capital Research and
Management Company
---------------------------------------------------------------------------------------------------------------------------
GREGG E. Senior Vice 5 years (in addition to 25 years 25 years
IRELAND President of the fund. 7 years as a research
Senior Vice President, professional prior to
Capital Research and becoming a portfolio
Management Company counselor for the fund)
---------------------------------------------------------------------------------------------------------------------------
THIERRY Senior Vice 19 years (in addition to 34 years 34 years
VANDEVENTER President of the fund. 5 years as a research
Director, Capital professional prior to
Research and Management becoming a portfolio
Company counselor for the fund)
---------------------------------------------------------------------------------------------------------------------------
MARK E. Director, Capital 5 years (in addition to 15 years 15 years
DENNING Research and Management 4 years as a research
Company professional prior to
becoming a portfolio
counselor for the fund)
---------------------------------------------------------------------------------------------------------------------------
WILLIAM C. Senior Partner, 25 years (since the 38 years 45 years
NEWTON The Capital fund began operations)
Group Partners L.P.*
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
The fund began operations on March 13, 1973.
* Company affiliated with Capital Research and Management Company.

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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INVESTMENT RESULTS
The fund may from time to time compare investment results to various indices or
other mutual funds. Fund results may be calculated on a total return, yield
and/or distribution rate basis. Currently the fund calculates investment
results only on a total return basis. Results calculated without a sales charge
will be higher.

TOTAL RETURN is the change in value of an investment in the fund over a given
period, assuming reinvestment of any dividends and capital gain
distributions.

YIELD is computed by dividing the net investment income per share earned by
the fund over a given period of time by the maximum offering price per share
on the last day of the period, according to a formula mandated by the
Securities and Exchange Commission. A yield calculated using this formula may
be different than the income actually paid to shareholders.

DISTRIBUTION RATE reflects dividends that were paid by the fund. The
distribution rate is calculated by dividing the dividends paid over the last
12 months by the sum of the month-end price and the capital gain
distributions paid over the last 12 months.

INVESTMENT RESULTS
(FOR PERIODS ENDED SEPTEMBER 30, 1997)

THE FUND THE FUND AT
AVERAGE ANNUAL AT NET MAXIMUM MSCI MSCI
TOTAL RETURNS: SET VALUE/1/ SALES CHARGE/1/,2 WORLD/3/ USA/4/
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
One year 29.97% 22.52% 24.63% 40.22%
................................................................................
Five years 17.85% 16.46% 16.41% 21.24%
................................................................................
Ten years 12.25% 11.59% 9.55% 15.00%
................................................................................
Lifetime/5/ 15.15% 14.87% 12.06% 12.97%
</TABLE>
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1 These fund results were calculated according to a standard formula that is
required for all stock and bond funds.
2 The maximum sales charge has been deducted.
3 Morgan Stanley Capital International World Index measures 22 major stock
markets throughout the world, including the U.S. This index is unmanaged and
does not reflect sales charges, commissions or expenses.
4 Morgan Stanley Capital International USA Index measures the U.S. portion of
the world market. This index is unmanaged and does not reflect sales charges,
commissions or expenses.
5 The fund began operations on March 13, 1973.

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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Here are the fund's annual total returns calculated without a sales charge.
This information is being supplied on a calendar year basis.
[bar chart]
1987 13.50
1988 10.39
1989 25.91
1990 -2.08
1991 22.64
1992 3.98
1993 26.98
1994 2.97
1995 20.43
1996 17.28
[end bar chart]
Past results are not an indication of future results.

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DIVIDENDS, DISTRIBUTIONS AND TAXES

DIVIDENDS AND DISTRIBUTIONS

The fund usually pays dividends, which may fluctuate, in June and December.
Capital gains, if any, are also usually distributed in December. When a
dividend or capital gain is distributed, the net asset value per share is
reduced by the amount of the payment.

If a shareholder has elected to receive dividends and/or capital gain
distributions in cash, and the postal or other delivery service is unable to
deliver checks to the shareholder's address of record, or the shareholder does
not respond to mailings from American Funds Service Company with regard to
uncashed distribution checks, the shareholder's distribution option will
automatically be converted to having all dividends and other distributions
reinvested in additional shares.

FEDERAL TAXES

In any fiscal year in which the fund qualifies as a regulated investment
company and distributes to shareholders all of its net investment income and
net capital gains, the fund itself is relieved of federal income tax.

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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Generally, 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 income distributions paid during the prior
year. Such distributions may also be subject to state or local taxes. The tax
treatment of redemptions from a retirement plan account may differ from
redemptions from an ordinary shareholder account.

YOU MUST PROVIDE THE FUND WITH A CERTIFIED CORRECT TAXPAYER IDENTIFICATION
NUMBER (GENERALLY YOUR SOCIAL SECURITY NUMBER) AND CERTIFY THAT YOU ARE NOT
SUBJECT TO BACKUP WITHHOLDING. IF YOU FAIL TO DO SO THE IRS CAN REQUIRE THE
FUND TO WITHHOLD 31% OF YOUR TAXABLE DISTRIBUTIONS AND REDEMPTIONS. 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
adviser for further information.

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FUND ORGANIZATION AND MANAGEMENT

FUND ORGANIZATION AND VOTING RIGHTS

The fund, an open-end, diversified management investment company, was organized
as a Maryland corporation in 1972. All fund operations are supervised by the
fund's board of directors which meets periodically and performs duties required
by applicable state and federal laws. Members of the board who are not employed
by Capital Research and Management Company or its affiliates are paid certain
fees for services rendered to the fund as described in the statement of
additional information. They may elect to defer all or a portion of these fees
through a deferred compensation plan in effect for the fund. The fund does not
hold annual meetings of shareholders. However, significant matters that require
shareholder approval, such as certain elections of board members or a change in
a fundamental investment policy, will be presented to shareholders at a meeting
called for such purpose. Shareholders have one vote per share owned. 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.

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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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, a wholly owned subsidiary of The Capital Group
Companies, Inc., is headquartered at 333 South Hope Street, Los Angeles, CA
90071. Capital Research and Management Company manages the investment portfolio
and business affairs of the fund. The management fee paid by the fund to
Capital Research and Management Company may not exceed 0.60% of the fund's
average net assets annually and declines at certain asset levels. The total
management fee paid by the fund, as a percentage of average net assets, for the
previous fiscal year is discussed earlier under "Expenses."

Capital Research and Management Company and its affiliated companies have
adopted a personal investing policy that is consistent with the recommendations
contained in the May 9, 1994 report issued by the Investment Company
Institute's Advisory Group on Personal Investing. This policy has also been
incorporated into the fund's code of ethics.

PLAN OF DISTRIBUTION

The fund has a Plan of Distribution or "12b-1 Plan" under which it may finance
activities primarily intended to sell shares, provided the categories of
expenses are approved in advance by the board. The 12b-1 fee paid by the fund,
as a percentage of average net assets, for the previous fiscal year is
discussed earlier under "Expenses." Since these fees are paid out of the fund's
assets on an ongoing basis, over time they will increase the cost of an
investment and may cost you more than paying other types of sales loads.

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. Fixed-income
securities are generally traded on a "net" basis with a dealer acting as
principal for its own account without a stated commission, although the price
of the security usually includes a profit to the dealer. In underwritten
offerings, securities are usually purchased at a fixed price which includes an
amount of compensation to the dealer, generally referred to as a concession or
discount. On occasion, securities may be purchased directly from an issuer, in
which case no commissions or discounts are paid. In the over-the-counter
market,

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
- --------------------------------------------------------------------------------
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 (either directly or
through their correspondent clearing agents) are in a position to offer
comparable prices and executions, preference may be given to brokers who have
sold shares of the fund or have provided investment research, statistical, and
other related services for the benefit of the fund and/or other funds served by
Capital Research and Management Company.

PRINCIPAL UNDERWRITER AND TRANSFER AGENT

American Funds Distributors, Inc. and American Funds Service Company serve as
the principal underwriter and transfer agent for the fund, respectively. They
are headquartered at 333 South Hope Street, Los Angeles, CA 90071 and 135 South
State College Boulevard, Brea, CA 92821, respectively.

AMERICAN FUNDS SERVICE COMPANY SERVICE AREAS
CALL TOLL-FREE FROM ANYWHERE IN THE U.S.
(8 A.M. TO 8 P.M. ET):
800/421-0180

[MAP OF AMERICAN FUNDS SERVICE COMPANY SERVICE AREAS APPEARS HERE]

WESTERN SERVICE CENTER
American Funds Service Company
P.O. Box 2205
Brea, California
92822-2205
Fax: 714/671-7080

WESTERN CENTRAL SERVICE CENTER
American Funds Service Company
P.O. Box 659522
San Antonio, Texas
78265-9522
Fax: 210/530-4050

EASTERN CENTRAL SERVICE CENTER
American Funds Service Company
P.O. Box 6007
Indianapolis, Indiana
46206-6007
Fax: 317/735-6620

EASTERN SERVICE CENTER
American Funds Service Company
P.O. Box 2280
Norfolk, Virginia
23501-2280
Fax: 804/67-4773
13

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
- --------------------------------------------------------------------------------

SHAREHOLDER SERVICES

The fund offers you a valuable array of services you can use to alter your
investment program as your needs and circumstances change. These services,
which are summarized below, are available only in states where they may be
legally offered and may be terminated or modified at any time upon 60 days'
written notice. A COMPLETE DESCRIPTION OF SHAREHOLDER SERVICES AND ACCOUNT
POLICIES IS CONTAINED IN THE FUND'S STATEMENT OF ADDITIONAL INFORMATION. In
addition, an easy-to-read guide to owning a fund in The American Funds Group
titled "Welcome to the Family" is sent to new shareholders and is available by
writing or calling American Funds Service Company.

THE SERVICES DESCRIBED MAY NOT BE AVAILABLE THROUGH SOME RETIREMENT PLANS OR
ACCOUNTS HELD BY INVESTMENT DEALERS. IF YOU ARE INVESTING IN SUCH A MANNER, YOU
SHOULD CONTACT YOUR PLAN ADMINISTRATOR/TRUSTEE OR DEALER ABOUT WHAT SERVICES
ARE AVAILABLE AND WITH QUESTIONS ABOUT YOUR ACCOUNT.

- --------------------------------------------------------------------------------
PURCHASING SHARES

HOW TO PURCHASE SHARES

Generally, you may open an account by contacting any investment dealer
authorized to sell the fund's shares. You may add to your account through your
dealer or directly through American Funds Service Company by mail, computer,
wire, or bank debit. You may also establish or add to your account by
exchanging shares from any of your other accounts in The American Funds Group.
The fund and American Funds Distributors reserve the right to reject any
purchase order for any reason. This includes exchange purchase orders that may
place an unfair burden on other shareholders due to their frequency.

Various purchase options are available as described below, subject to certain
investment minimums and limitations described in the statement of additional
information and "Welcome to the Family."

Automatic Investment Plan

You may invest monthly or quarterly through automatic withdrawals from your
bank account.

Automatic Reinvestment

You may reinvest your dividends and capital gain distributions into the fund
(with no sales charge). This will be done automatically unless you elect to
have the dividends and/or capital gain distributions paid to you in cash.

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
- --------------------------------------------------------------------------------

Cross-Reinvestment

You may invest your dividends and capital gain distributions into any other
fund in The American Funds Group.

Exchange Privilege

You may exchange your shares into other funds in The American Funds Group,
generally with no sales charge. Exchanges of shares from the money market
funds that were initially purchased with no sales charge will generally be
subject to the appropriate sales charge. You may also elect to automatically
exchange shares among any of the funds in The American Funds Group. Exchange
requests may be made in writing, by telephone including American
FundsLine(R), by computer using American FundsLine OnLine(SM) (see below), or
by fax. EXCHANGES HAVE THE SAME TAX CONSEQUENCES AS ORDINARY SALES AND
PURCHASES.

Retirement Plans

You may invest in the fund through various retirement plans. For further
information contact your investment dealer or American Funds Distributors.

SHARE PRICE

The fund's share price, also called net asset value, is determined as of the
close of trading (normally 4:00 p.m., Eastern time) every day the New York
Stock Exchange is open. The fund calculates its net asset value per share,
generally using market prices, by dividing the total value of its assets after
subtracting liabilities by the number of its shares outstanding. Shares are
purchased at the offering price next determined after your investment is
received and accepted by American Funds Service Company. The offering price is
the net asset value plus a sales charge, if applicable.

SHARE CERTIFICATES

Shares are credited to your account, and certificates are not issued unless you
request them by writing to American Funds Service Company.

INVESTMENT MINIMUMS
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<TABLE>
<S> <C>
To establish an account $250
For a retirement plan account $250
For a retirement plan account through payroll deduction $ 25

To add to an account $ 50
For a retirement plan account $ 25
</TABLE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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SALES CHARGES

A sales charge may apply, as described below, when purchasing shares. Sales
charges may be reduced for larger purchases as indicated below.
<TABLE>
<CAPTION>

SALES CHARGE AS A
PERCENTAGE OF
.................. DEALER
NET CONCESSION AS
OFFERING AMOUNT % OF OFFERING
INVESTMENT PRICE INVESTED PRICE
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<S> <C> <C> <C>
Less than $50,000 5.75% 6.10% 5.00%
................................................................................
$50,000 but less than $100,000 4.50% 4.71% 3.75%
................................................................................
$100,000 but less than $250,000 3.50% 3.63% 2.75%
................................................................................
$250,000 but less than $500,000 2.50% 2.56% 2.00%
................................................................................
$500,000 but less than $1 million 2.00% 2.04% 1.60%
................................................................................
$1 million or more and certain other
investments described below see below see below see below
</TABLE>

PURCHASES NOT SUBJECT TO SALES CHARGES

Investments of $1 million or more and investments made by employer-sponsored
defined contribution-type plans with 100 or more eligible employees are sold
with no initial sales charge. A 1% CONTINGENT DEFERRED SALES CHARGE MAY BE
IMPOSED ON CERTAIN REDEMPTIONS BY THESE ACCOUNTS MADE WITHIN ONE YEAR OF
PURCHASE. Investments by retirement plans, foundations or endowments with $50
million or more in assets may be made with no sales charge and are not subject
to a contingent deferred sales charge. A dealer concession of up to 1% may be
paid by the fund under its Plan of Distribution and/or by American Funds
Distributors on investments made with no initial sales charge. Investments by
certain individuals and entities including employees and other associated
persons of dealers authorized to sell shares of the fund and Capital Research
and Management Company and its affiliated companies are not subject to a sales
charge.

ADDITIONAL DEALER COMPENSATION

In addition to the concessions listed, up to 0.25% of average net assets is
paid annually to qualified dealers for providing certain services pursuant to
the fund's Plan of Distribution. American Funds Distributors currently provides
additional compensation to the top 100 dealers who have sold shares of funds in
The American Funds Group based on the pro rata share of a qualifying dealer's
sales.

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NEW PERSPECTIVE FUND / PROSPECTUS
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REDUCING YOUR SALES CHARGE

You and your immediate family may combine investments to reduce your costs. 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 below.

Aggregation

Investments that may be aggregated include those made by you, your spouse
and your children under the age of 21, if all parties are purchasing shares
for their own account(s), including any business account solely "controlled
by," as well as any retirement plan or trust account solely for the benefit
of, these individuals. Investments made for multiple employee benefit plans
of a single employer or "affiliated" employers may be aggregated provided
they are not also aggregated with individual accounts. Finally, investments
made by a common trust fund or other diversified pooled account not
specifically formed for the purpose of accumulating fund shares may be
aggregated.

Purchases made for nominee or street name accounts will generally not be
aggregated with those made for other accounts unless qualified as described
above.

Concurrent Purchases

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.

Right of Accumulation

You may take into account the current value of your existing holdings in The
American Funds Group to determine your sales charge. Direct purchases of the
money market funds are excluded.

Statement of Intention

You may enter into a non-binding commitment to invest a certain amount
(which, at your request, may include purchases made during the previous
90 days) in non-money market fund shares over a 13-month period. A portion
of your account may be held in escrow to cover additional sales charges that
may be due if your total investments over the statement period are
insufficient to qualify for the applicable sales charge reduction.

<PAGE>

HOW TO SELL SHARES

You may sell (redeem) shares in your account by contacting your investment
dealer or American Funds Service Company. You may also use American
FundsLine(R) or American FundsLine OnLine(SM) (see below). In addition, you may
sell shares in amounts of $50 or more automatically. If you sell shares through
your investment dealer you may be charged for this service. Shares held for you
in your dealer's street name must be sold through the dealer.

Shares are sold at the net asset value next determined after your request is
received in good order by American Funds Service Company. Sale requests may be
made in writing, by telephone, including American FundsLine(R), by computer
using American FundsLine OnLine(SM), or by fax. Sales by telephone, computer or
fax are limited to $50,000 in accounts registered to individual(s) (including
non-retirement trust accounts). In addition, checks must be made payable to the
registered shareholder(s) and mailed to an address of record that has been used
with the account for at least 10 days.

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), sale proceeds will be paid on or before
the seventh day following receipt and acceptance of an order. Interest will not
accrue or be paid on amounts that represent uncashed distribution or redemption
checks.

The fund may, with 60 days' written notice, close your account if due to a sale
of shares the account has a value of less than the minimum required initial
investment.

Generally, written requests to sell shares must be signed by you and must
include any shares you wish to sell that are in certificate form. Your
signature must be guaranteed by a member firm of a domestic stock exchange or
the National Association of Securities Dealers, Inc., bank, savings
association, or credit union that is an eligible guarantor institution. A
signature guarantee is not currently required for any sale of $50,000 or less
provided the check is made payable to the registered shareholder(s) and is
mailed to the address of record on the account, and provided the address has
been used with the account for at least 10 days. Additional documentation may
be required for sale of shares held in corporate, partnership or fiduciary
accounts.

<PAGE>

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NEW PERSPECTIVE FUND / PROSPECTUS
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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 account) in any fund in The American Funds Group
within 90 days after the date of the redemption or distribution. Redemption
proceeds of shares representing direct purchases in the money market funds are
excluded. Reinvestment will be at the next calculated net asset value after
receipt and acceptance by American Funds Service Company.

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OTHER IMPORTANT THINGS TO REMEMBER

AMERICAN FUNDSLINE(R) AND AMERICAN FUNDSLINE ONLINESM

You may check your share balance, the price of your shares, or your most recent
account transactions, sell shares (up to $50,000 per shareholder each day), or
exchange shares around the clock with American FundsLine(R) or American
FundsLine OnLine(SM). To use these services, call 800/325-3590 from a
TouchTone(TM) telephone or access The American Funds Web site on the Internet
at www.americanfunds.com.

TELEPHONE AND COMPUTER PURCHASES, SALES AND EXCHANGES

Unless you opt out of the telephone or computer (including American
FundsLine(R) or American FundsLine OnLine(SM)) or fax purchase, sale and/or
exchange options (see below), 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 liabilities
(including attorney fees) which may be incurred in connection with the exercise
of these privileges, provided American Funds Service Company employs reasonable
procedures to confirm that the instructions received from any person with
appropriate account information are genuine. If reasonable procedures are not
employed, the fund may be liable for losses due to unauthorized or fraudulent
instructions.

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 also reinstate them at any time by writing to
American Funds Service Company.)

ACCOUNT STATEMENTS

You will receive regular confirmation statements reflecting transactions in
your account. Dividend and capital gain reinvestments and purchases through
automatic investment plans and certain retirement plans will be confirmed at
least quarterly.

<PAGE>

NOTES

<PAGE>

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FOR SHAREHOLDER SERVICES FOR DEALER SERVICES
American Funds American Funds
Service Company Distributors
800/421-0180 ext. 1 800/421-9900 ext. 11

FOR 24-HOUR INFORMATION
American American Funds
FundsLine(R) Internet Web site
800/325-3590 http://www.americanfunds.com

Telephone conversations may be recorded or monitored for verification,
recordkeeping and quality assurance purposes.
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MULTIPLE TRANSLATIONS

This prospectus may be translated into other languages. In the event of any
inconsistency or ambiguity as to the meaning of any word or phrase in a
translation, the English text will prevail.
- --------------------------------------------------------------------------------
OTHER FUND INFORMATION

ANNUAL/SEMI-ANNUAL REPORT TO SHAREHOLDERS

Includes financial statements, detailed performance information, portfolio
holdings, a statement from portfolio management and the independent accountants'
report (in the annual report).

STATEMENT OF ADDITIONAL INFORMATION (SAI)

Contains more detailed information on all aspects of the fund, including the
fund's financial statements.

A current SAI has been filed with the Securities and Exchange Commission
("SEC"). It is incorporated by reference into this prospectus and is available
along with other related materials on the SEC's Internet Web site at
http://www.sec.gov.

CODE OF ETHICS

Includes a description of the fund's personal investing policy.

To request a free copy of any of the documents above:

Call American Funds or Write to the Secretary
Service Company of the fund
800/421-0180 ext. 1 333 South Hope Street
Los Angeles, CA 90071
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This prospectus has been printed on recycled paper. [RECYCLED LOGO HERE]

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