Filed by: American Century Mutual Funds, Inc. Pursuant to Rule 425 under the Securities Act of 1933, as amended Subject Company: American Century World Mutual Funds, Inc. Investment Company Act File No: 811-06247 [ACI LOGO] NEWS RELEASE Contact: Chris Doyle (816) 340-4638 (816) 340-7033 (Media Line) AMERICAN CENTURY INVESTMENTS ANNOUNCES STRATEGIC CHANGES WITHIN ITS INVESTMENT MANAGEMENT GROUP KANSAS CITY, Mo., Dec. 19, 2008 - American Century Investments announces a series of strategic changes within its Investment Management group. The changes - - which include new leadership appointments, team consolidations and fund reorganizations - affect the company's International Equity, U.S. Growth Equity and Asset Allocation disciplines. "The changes are part of a recurring review of our investment teams and product line to ensure the optimal combination of personnel and resources to best meet the needs of our clients and investors," said American Century Investments Chief Investment Officer Enrique Chang. "Going forward, these moves will enhance our ability to execute our investment processes across our various disciplines, which directly benefits our clients." INTERNATIONAL EQUITY - -------------------- Senior Vice President and Senior Portfolio Manager Mark Kopinski is being promoted to chief investment officer, International Equity, replacing Mark On, whose departure from the company is effective Dec. 19. In addition to his International Equity CIO responsibilities, Kopinski will continue to co-manage International Discovery (International Small-Mid Cap) and International Opportunities (International Small Cap). A 24-year veteran of the investment industry, Kopinski joined American Century Investments in 1990 and established our first international equity strategies, beginning with International Growth in 1991 and International Discovery (International Small-Mid Cap) in 1994. He left the firm in 1995 but returned in 1997 to launch Emerging Markets. Over the past 11 years, he has served on a variety of teams within the International Equity discipline. "On behalf of American Century Investments, it's my pleasure to congratulate Mark Kopinski on this well-deserved promotion," said Enrique Chang. "During his 16 years with the company, Mark has displayed outstanding investment management skills and strong leadership qualities, which have made him well respected both inside and outside of the company." U.S. GROWTH EQUITY - ------------------ The portfolio teams for Ultra (Premier Large Cap Growth) and Select (Core Growth) are being combined in order to more effectively leverage the analytical resources of both teams. Going forward, the two strategies will be managed by a team consisting of U.S. Growth Equity Chief Investment Officer Stephen Lurito, Vice President and Portfolio Manager Keith Lee, CFA, Portfolio Manager Michael Li, PhD, and six investment analysts. As a result of the team consolidation, Tom Telford, CFA, vice president and portfolio manager on Ultra (Premier Large Cap Growth) and Technology, will leave the company, effective Dec.19. Also, the Board of Directors for the Life Sciences and Technology funds has approved the reorganization of these funds into Growth, contingent upon a shareholder proxy vote slated for 2009. As a result, Senior Vice President and Senior Portfolio Manager Arnie Douville and Vice President and Portfolio Manager Christy Turner, CFA, who oversee Life Sciences, are leaving the firm, effective Dec.19. U.S. Growth Equity CIO Stephen Lurito will serve as portfolio manager on the funds until the reorganization is completed. ASSET ALLOCATION - ---------------- American Century Investments is creating an Asset Allocation Committee, headed by CIO Enrique Chang and comprised of the five investment discipline CIOs and Senior Vice President and Senior Portfolio Manager Jeff Tyler, CFA. The committee will meet regularly to establish policy and review investment decisions for all American Century Investments asset allocation and fund-of-funds products including the Strategic Allocation series, LIVESTRONG Portfolios, One Choice Portfolios and the various age-based funds available through the Kansas Learning Quest 529 Education Savings Program. As head of the committee, Chang will be named as a portfolio manager on each of the company's asset allocation strategies, effective Jan. 1, 2009. The team currently consists of Jeff Tyler and Portfolio Manager Irina Torelli, who will maintain day-to-day responsibilities for the strategies with input from Chang. "For years, American Century Investments' asset allocation strategies have relied on CIO input when constructing the portfolios," said Chang. "Given the success of our products in the marketplace and the growing importance of asset allocation portfolios among our clients, the creation of the Asset Allocation Committee formalizes this input process." About American Century Investments American Century Investments is a leading investment manager, committed to delivering superior investment performance and building long-term client relationships since 1958. Serving investment professionals, institutions, corporations and individual investors, American Century Investments offers a variety of investment disciplines through an array of products including mutual funds, institutional separate accounts, commingled trusts and sub-advisory accounts. The company's 1,300 employees serve clients from offices in New York; Mountain View, Calif.; Kansas City, Mo. and London. James E. Stowers Jr. founded the company and serves as co-chairman of the board. Jonathan S. Thomas is president and chief executive officer and Enrique Chang is chief investment officer. For the past nine years, American Century Investments has been selected as one of FORTUNE Magazine's 100 Best Companies to Work for in America. # # # THE INFORMATION INCLUDED HEREIN IS NOT AN OFFER TO SELL, NOR A SOLICITATION OF AN OFFER TO BUY, SHARES OF ANY INVESTMENT COMPANY, NOR IS IT A SOLICITATION OF ANY PROXY. AMERICAN CENTURY MUTUAL FUNDS, INC. WILL FILE A PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS REGARDING THE REORGANIZATIONS WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE "SEC"). INVESTORS ARE URGED TO READ THESE DOCUMENTS BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE REORGANIZATIONS AND RELATED MATTERS. YOU WILL BE ABLE TO OBTAIN THESE DOCUMENTS FREE OF CHARGE AT THE SEC WEB SITE (WWW.SEC.GOV). BEFORE INVESTING, CAREFULLY CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES. CONTACT 1-800-345-2021 FOR A PROSPECTUS CONTAINING THIS AND OTHER INFORMATION. READ IT CAREFULLY.
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Filed: 19 Dec 08, 12:00am