American Century Variable Portfolios, Inc.
SUPPLEMENT TO VP
BALANCED PROSPECTUS
Supplement dated May 1, 1997
to Prospectus dated May 1, 1997
The disclosure set forth below replaces the fourth through seventh paragraphs
under the heading "Management" found on page 13 of the VP Balanced prospectus.
The portfolio manager members of the VP Balanced team and their work experience
for the last five years are as follows:
JAMES E. STOWERS III, President and Portfolio Manager, joined American Century
in 1981. He is a member of the team that manages the equity portion of VP
Balanced.
BRUCE A. WIMBERLY, Portfolio Manager, joined American Century in September 1994
as an Investment Analyst, a position he held until July 1996. At that time he
was promoted to Portfolio Manager. Prior to joining American Century, Mr.
Wimberly attended Kellogg Graduate School of Management, Northwestern University
from August 1992 to August 1994, where he obtained his MBA degree. Prior to that
he served as a Research Analyst for Frontier Capital Management Company, Boston,
Massachusetts. Mr. Wimberly is a member of the team that manages the equity
portion on VP Balanced.
NORMAN E. HOOPS, Senior Vice President and Fixed Income Portfolio Manager,
joined American Century as Vice President and Portfolio Manager in November
1989. In April 1993, he became Senior Vice President. He is a member of the team
that manages the fixed income portion of VP Balanced.
JEFFREY L. HOUSTON, Portfolio Manager, has worked for American Century since
November 1990. He is a member of the team that manages the fixed income portion
of VP Balanced.
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American
Century(sm)
P.O. Box 419385 o Kansas City, Missouri 64141-6385
Person-to-person assistance:
1-800-345-3533 or 816-531-5575
www.americancentury.com
SH-SPL-8670 9705
