Patrick A. Looby
                                Attorney At Law
                                4500 Main Street
                          Kansas City, Missouri 64111

                            Telephone (816) 340-4349
                           Telecopier (816) 340-4964

April 17, 1998

American Century Investment Trust
4500 Main Street
Kansas City, Missouri  64111

RE:      Opinion Regarding the Legality of Shares of American Century 
         Investment Trust (the "Trust")
         (Registration No. 811-7822)


Dear Ladies and Gentlemen:

      I am counsel to  American  Century  Investment  Trust,  and as such,  I am
generally  familiar  with its  affairs.  Based upon that  familiarity,  and upon
examination  of such documents as I deemed  relevant,  it is my opinion that the
issuance  and sale of shares by the Trust in  connection  with the  transactions
contemplated by the  Registration  Statement on Form N-14, of which this opinion
is an exhibit,  has been duly and validly  authorized by all appropriate  action
and,  upon the  delivery  thereof and  payment  therefor  in  accordance  and in
connection with the  reorganization,  the shares will be legally  issued,  fully
paid and non assessable by the Trust.

      For the  record,  it  should be noted  that I am an  officer  of  American
Century  Services  Corporation,  an affiliated  corporation of American  Century
Investment  Management,   Inc.,  the  investment  adviser  of  American  Century
Investment Trust.

      I hereby  consent to the  inclusion of this opinion with the filing of the
Registration Statement on Form N-14.


                                            Sincerely,



                                            /s/ Patrick A. Looby
                                            Patrick A. Looby
                                            Vice President and
                                            Associate General Counsel