AMERICAN CENTURY WORLD MUTUAL FUNDS, INC.
PROSPECTUS SUPPLEMENT
Global Growth - International Growth
International Discovery - Emerging Markets
SUPPLEMENT DATED DECEMBER 24, 1998
Prospectus dated November 1, 1998
The disclosure set forth below should replace the third paragraph under the
heading "INVESTMENT OBJECTIVES OF THE FUNDS" on page 2 of the Investor Class
Prospectus, the Institutional Class Prospectus and the Advisor Class Prospectus
AMERICAN CENTURY - TWENTIETH CENTURY INTERNATIONAL DISCOVERY FUND
The investment objective of International Discovery is capital growth. The fund
will seek to achieve its investment objective by investing primarily in an
internationally diversified portfolio of equity securities of issuers having
comparatively smaller market capitalizations (less than U.S. $1.5 billion in
market capitalization or less than U.S. $500 million in public float). All such
investments will be considered by the investment manager to have prospects for
appreciation. Due to the risks associated with such investments, an investment
in this fund may be considered speculative.
The disclosure set forth below should replace the fourth paragraph under the
heading "INVESTMENT POLICIES OF THE FUNDS" on page 8 of the Investor Class
Prospectus, page 10 of the Institutional Class Prospectus and page 10 of the
Advisor Class Prospectus:
INTERNATIONAL DISCOVERY
The investment objective of International Discovery is capital growth. The fund
will seek to achieve its investment objective by investing primarily in an
internationally diversified portfolio of equity securities of issuers that meet
certain fundamental and technical standards of selection. The fund will invest
its assets primarily in equity securities of smaller foreign issuers (those
issuers having, at the time of investment, a market capitalization of less than
U.S. $1.5 billion or a public float of less than U.S. $500 million). The "public
float" of an issuer is outstanding securities held by non-affiliates of the
issuer. Due to the significant risks associated with the fund's investment
strategy, an investment in the fund may not be appropriate for all investors.
See "Risk Factors," page 10. (Note: "Risk Factors" for Advisor Class and
Institutional Class Prospectuses are found on page 12.)
The disclosure set forth below should be inserted as the seventh and eighth
paragraphs under the heading "Investment Management" on page 27 of the Investor
Class Prospectus, page 28 of the Institutional Class Prospectus and page 24 of
the Advisor Class Prospectus:
BRADLEY AMOILS, Portfolio Manager, joined American Century in July 1997 as
an Investment Analyst and was promoted to Portfolio Manager in November 1998.
Prior to joining American Century, Mr. Amoils served as a Securities Analyst for
Oppenheimer Funds from January 1996 to June 1997 and an Analyst at Clay Finlay
Asset Management from March 1995 to December 1995. He is a member of the team
that manages Global Growth.
BRIAN BRADY, Portfolio Manager, joined American Century in June 1994 as an
Investment Analyst and was promoted to Portfolio Manager in November 1998. Prior
to joining American Century, Mr. Brady served as a Financial Analyst for Chase
Manhattan Bank. He is a member of the team that manages International Discovery
SH-SPL-15079 9812
P.O. Box 419200
Kansas City, Missouri
64141-6200
1-800-345-2021 or 816-531-5575
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American
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