AMERICAN CENTURY VARIABLE PORTFOLIOS, INC.
PROSPECTUS SUPPLEMENT
VP Capital Appreciation
SUPPLEMENT DATED APRIL 1, 1998
Prospectus dated May 1, 1997
THE FOLLOWING DISCLOSURE IS ADDED ON PAGE 10 OF THE PROSPECTUS, FOLLOWING THE
LAST PARAGRAPH UNDER THE HEADING "WHEN SHARE PRICE IS DETERMINED."
We have contractual relationships with certain financial intermediaries in
which such intermediaries represent that they have systems to track the time at
which investment orders are received and to segregate orders received at
different times. Based on these representations, the fund has authorized such
intermediaries and their designees to accept purchase and redemption orders on
the fund's behalf up to the applicable cut-off time. The fund will be deemed to
have received such orders upon acceptance by the duly authorized intermediary,
and such orders will be priced at the fund's net asset value next determined
after acceptance on the fund's behalf by such intermediary.
THE FOLLOWING DISCLOSURE REPLACES THE FOURTH AND FIFTH PARAGRAPHS UNDER THE
HEADING "INVESTMENT MANAGEMENT" FOUND ON PAGE 11 OF THE PROSPECTUS.
HAROLD S. BRADLEY, Vice President and Portfolio Manager, joined American
Century in 1988. For the past 10 years, Mr. Bradley has managed the global
equity, futures and foreign exchange trading activities for American Century.
LINDA K. PETERSON, Portfolio Manager, joined American Century in 1986. She
served as an Investment Analyst for American Century growth-oriented funds from
April 1994 until March 1998. She was promoted to Portfolio Manager in March
1998.
THE FOLLOWING DISCLOSURE IS ADDED ON PAGE 12 OF THE PROSPECTUS, FOLLOWING THE
LAST PARAGRAPH UNDER THE HEADING "TRANSFER AND ADMINISTRATIVE SERVICES."
Pursuant to a Sub-Administration Agreement with the manager, Funds
Distributor, Inc. (FDI) serves as the Co-Administrator for the fund. FDI is
responsible for (i) providing certain officers of the fund and (ii) reviewing
and filing marketing and sales literature on behalf of the fund. The fees and
expenses of FDI are paid by the manager.
THE FOLLOWING DISCLOSURE REPLACES THE PARAGRAPH UNDER THE HEADING "DISTRIBUTION
OF FUND SHARES" FOUND ON PAGE 12 OF THE PROSPECTUS.
The fund's shares are distributed by FDI, a registered broker-dealer. FDI is
a wholly-owned indirect subsidiary of Boston Institutional Group, Inc. FDI's
principal business address is 60 State Street, Suite 1300, Boston, Massachusetts
02109. The Investor Class of shares does not pay any commissions or sales loads
to the distributor or any other broker-dealers or financial intermediaries in
connection with the distribution of fund shares.
Investors may open accounts with American Century only through the
distributor. All purchase transactions in the fund offered by this Prospectus
are processed by the transfer agent, which is authorized to accept any
instructions relating to fund accounts. All purchase orders must be accepted by
the distributor. All fees and expenses of FDI in acting as distributor for the
fund is paid by the manager.
THE FOLLOWING DISCLOSURE SHOULD BE INSERTED AFTER THE LAST PARAGRAPH UNDER THE
HEADING "DISTRIBUTION OF FUND SHARES" FOUND ON PAGE 12 OF THE PROSPECTUS.
LEGAL PROCEEDINGS
On November 10, 1997, American Century Variable Portfolios, Inc. received a
copy of a complaint filed against Nationwide Life Insurance Company in which
American Century Mutual Funds, Inc., American Century Investment Services, Inc.,
American Century Investment Management, Inc., American Century Variable
Portfolios, Inc., and American Century Investment Management International LTD
were named as co-defendants. The suit was filed in The United States District
Court for the Southern District of Texas, Galveston Division, on October 31,
1997 and alleges a variety of state and federal complaints against Nationwide
and American Century in connection with the sale of a Nationwide insurance
product that utilizes VP Capital Appreciation as an underlying investment
vehicle. The manager believes the allegations are without merit and intends to
defend the litigation vigorously.
[american century logo[reg.sm])
American
Century(reg.tm)
P.O. Box 419385
Kansas City, Missouri
64141-6385
1-800-345-3533 or 816-531-5575
SH-SPL-12270 9803
