POWER OF ATTORNEY

     KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned,  AMERICAN  CENTURY
INVESTMENT  TRUST,  hereinafter  called the  "Trust" and  certain  trustees  and
officers of the Trust, do hereby  constitute and appoint James E. Stowers,  III,
William M.  Lyons,  Douglas  A. Paul,  and  Patrick A.  Looby,  and each of them
individually,  their  true and lawful  attorneys  and agents to take any and all
action and execute any and all  instruments  which said attorneys and agents may
deem  necessary or  advisable to enable the Trust to comply with the  Securities
Act of 1933 and/or the Investment Company Act of 1940, as amended, and any rules
regulations,  orders, or other  requirements of the United States Securities and
Exchange  Commission  thereunder,  in connection with the registration under the
Securities  Act of 1933 and/or the  Investment  Company Act of 1940, as amended,
including  specifically,  but without  limitation  of the  foregoing,  power and
authority to sign the name of the Trust in its behalf and to affix its seal, and
to sign the names of each of such  trustees and officers in their  capacities as
indicated,  to any amendment or supplement to the  Registration  Statement filed
with the  Securities  and Exchange  Commission  under the Securities Act of 1933
and/or the Investment Company Act of 1940, as amended, and to any instruments or
documents  filed  or to be  filed  as a  part  of or  in  connection  with  such
Registration  Statement;  the  Registration  Statement  on  Form  N-14  and  any
amendments or  supplements  thereto to be filed with the Securities and Exchange
Commission under the Securities Act of 1933 and/or the Investment Company Act of
1940, as amended,  and to any  instruments or documents  filed or to be filed as
part of or in  connection  with  such  Registration  Statement;  and each of the
undersigned  hereby  ratifies and confirms  all that said  attorneys  and agents
shall do or cause to be done by virtue hereof.

     IN WITNESS  WHEREOF,  the Trust has caused this Power to be executed by its
duly authorized officers on this the 15th day of January, 1998.


                                        AMERICAN CENTURY INVESTMENT TRUST
                                        (A Massachusetts Business Trust)

                                        By:  /s/ Richard W. Ingram
                                             Richard W. Ingram, President


                           SIGNATURE AND TITLE

/s/ James E. Stowers                             /s/ Isaac Stein
James E. Stowers, III                            Isaac Stein
Chairman                                         Director

/s/ Albert A. Eisenstat                          /s/ Jeanne D. Wohlers
Albert A. Eisenstat                              Jeanne D. Wohlers
Director                                         Director

/s/ Ronald J. Gilson                             /s/ William M. Lyons
Ronald J. Gilson                                 William M. Lyons
Director                                         Director

/s/ Myron S. Scholes                             /s/ Maryanne Roepke
Myron S. Scholes                                 Maryanne Roepke
Director                                         Treasurer

                                                 Attest:
/s/ Kenneth E. Scott
Kenneth E. Scott                                 By:/s/ Douglas A. Paul
Director                                            Douglas A. Paul, Secretary