American Century Investments Launches New York Tax-Free Fund

KANSAS CITY, Mo.--(Business Wire)--
In response to growing demand from New York clients and investors, American
Century Investments today launched its American Century New York Tax-Free Fund.

New York Tax-Free seeks to maximize total return through high current income
that is exempt from New York state and local income taxes. Its managers invest
at least 80 percent of the fund`s assets in debt securities issued by cities,
countries and other municipalities in New York and U.S. territories, such as
Puerto Rico, that have interest payments exempt from federal and New York income
taxes. It is available in Investor, A and C class shares. It is priced at $10
per share, with a minimum initial investment of $5,000.

New York Tax-Free will be co-managed by Joe Gotelli, Steven Permut and Alan
Kruss, all of whom are based in the company`s Mountain View, Calif. office.
American Century Investments now has a total of seven distinct municipal bond
strategies totaling $3 billion as of May 31, 2009. The seven strategies are
Tax-Free Bond, Long-Term Tax-Free, High-Yield Municipal, California Tax-Free
Bond, California Long-Term Tax-Free, California High-Yield Municipal and New
York Tax-Free.

Joe Gotelli, portfolio manager, has worked in the financial industry since 2001
and joined American Century Investments in 2008. Previously, he was with
Franklin Templeton Investments, where he served as an assistant portfolio
manager on various long- and short-term municipal bond portfolios. He earned a
bachelor`s degree in business economics from the University of California, Santa
Barbara, and received his M.B.A. with a concentration in finance from Santa
Clara University.

Steven Permut, senior vice president, senior portfolio manager and director of
municipal bond investments, joined the firm in 1987. Prior to that, he was an
analyst with Moody`s Investors Service. He holds bachelor`s degrees in business
and geography from State University of New York in Oneonta and a master`s degree
in business administration with a concentration in finance from Golden Gate
University. He is past chairman of the California Society of Municipal Analysts
and a former board member of the National Federation of Municipal Analysts.

Alan Kruss, vice president and portfolio manager, has worked in the financial
industry since 1997, when he joined American Century Investments. He holds a
bachelor`s degree in finance from San Francisco State University.

To learn more about American Century New York Tax-Free, call 1-800-378-9878 or
visit www.americancentury.com.

American Century Investments is a leading privately-held investment management
firm, 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 actively managed 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; London;
Hong Kong; Mountain View, Calif. and Kansas City, Mo. 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. More than 40 percent of American Century Investments` profits support
research to help find cures for genetically-based diseases including cancer,
diabetes and dementia.

You should consider the fund`s investment objectives, risks, charges and
expenses carefully before you invest. The fund`s prospectus, which can be
obtained by contacting your financial advisor, contains this and other
information about the fund, and should be read carefully before investing.

As with all mutual funds, shares may be worth more or less at any given time
than the price paid for them. As a result, it is possible to lose money by
investing in the fund. Investment income may be subject to certain state and
local taxes and, depending on your tax status, the federal alternative minimum
tax (AMT). Capital gains are not exempt from state and federal income tax.

The lower rated securities in which the fund invests are subject to greater
credit risk, default risk and liquidity risk.

American Century Investments
Chris Doyle, 816-340-4638
Media Line, 816-340-7033

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