AMERICAN CENTURY INVESTMENTS
Prospectus Supplement
Dated June 1, 1998
The following disclosure is added to the prospectus under the heading
"Management" following the subsection "Transfer and Administrative Services."
YEAR 2000 ISSUES
Many of the world's computer systems currently cannot properly recognize or
process date-sensitive information relating to the Year 2000 and beyond. Each
fund and the manager depend upon the computer systems of various service
providers, including the transfer agent, for their day-to-day operations.
Inadequate remediation of the Year 2000 problem by these service providers and
others with whom they interact could have an adverse effect on a fund's
operations, including pricing, securities trading and settlement, and the
provision of shareholder services.
The transfer agent, in cooperation with the manager, has assembled a team of
information technology professionals who are taking steps to address Year 2000
issues with respect to its own computers and to obtain satisfactory assurances
that comparable steps are being taken by each fund's and the manager's other
major service providers and vendors. The key phases of the remediation plan
include: an inventory of all internal systems, vendor products and services and
data providers (substantially completed in 1997); an assessment of all systems
for date reliance and the impact of the century rollover on each (substantially
completed with respect to critical systems in early 1998); and the renovation
and testing of affected systems (targeted for completion with respect to
critical systems by the end of 1998). The manager will pay for the remediation
effort with revenues from its management fee, so that a fund will not directly
bear any of the cost.
In light of these remediation efforts, a fund does not anticipate a material
adverse impact on its business, operations or financial condition relating to
Year 2000 issues. However, there can be no assurance that the remediation plan
will be sufficient and timely or that interaction with other noncomplying
computer systems will not have a material adverse effect on a fund's business,
operations or financial condition.
In addition, companies in which a fund invests may have Year 2000 computer
problems. The value of their securities could go down if they do not fix their
problems in time or if fixing them is very expensive. Before making an
investment decision about a company, the manager asks it about its Year 2000
readiness. However, the manager cannot be sure that the information it receives
is complete and accurate, and there is no guarantee that portfolio companies'
Year 2000 problems will not hurt a fund's performance.
[american century logo(reg.sm)]
American
Century(reg.tm)
P.O. Box 419200
Kansas City, Missouri
64141-6200
1-800-345-2021 or 816-531-5575
SH-SPL-12642 9805
