American Century Investment Trust · 497K3B · On 1/19/99

Filed On 1/19/99   ·   SEC File 33-65170   ·   Accession Number 908406-99-2

Profile of an Open-End Management Investment Company   ·   Rule 497(k)(1)(iii)(B)
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 497K3B      Profile                                                5±    22K 

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FUND PROFILE

Prime Money Market

INVESTOR CLASS

January 15, 1999

 [american century logo(reg.sm)]
American
 Century

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This profile summarizes key information about the fund that is included  in the 
fund's Prospectus. The fund's Prospectus has additional  information about the  
fund, including a more detailed description of  the risks associated with 
investing in the fund, that you may want  to consider before you invest. You may
obtain the Prospectus and other  information about the fund at no cost by 
calling us at 1-800-345-2021,  accessing our Web site or visiting one of our  
Investor Centers.  See the back cover for additional telephone numbers and our  
address.  

BENHAM GROUP  

AMERICAN CENTURY INVESTMENTS  

PRIME MONEY MARKET  

1. WHAT IS THE FUND'S INVESTMENT OBJECTIVE?                                     

        Prime Money  Market  seeks to earn the highest  level of current  income
while preserving the value of your investment.                        

2. WHAT IS THE FUND'S INVESTMENT STRATEGY?                                      

        The fund earns its income by investing in high-quality,  cash-equivalent
     securities.   These   securities  are  short-term   obligations  of  banks,
governments and corporations that are payable in U.S. dollars.        

        Additional   information  about  Prime  Money  Market's  investments  is
     available in its annual and semiannual  reports.  In these reports you will
     find a discussion of the market  conditions and investment  strategies that
     significantly affected the fund's performance during the most recent fiscal
period. You may get these reports at no cost by calling us.           

3. WHAT ARE THE SIGNIFICANT RISKS OF INVESTING  IN THE FUND?                    

     *    An investment in the fund is not a bank deposit, and it is not insured
          or guaranteed by the Federal Deposit Insurance  Corporation  (FDIC) or
          any other government  agency.  Although the fund seeks to preserve the
          value of your  investment  at $1.00 per share,  it is possible to lose
money by investing in the fund.                             

     *    Because  cash-equivalent  securities  are among the safest  securities
          available, the interest they pay is among the lowest for income-paying
          securities.  Accordingly,  the yield on this fund will likely be lower
      than funds that invest in longer-term or lower-quality securities.

FUND PERFORMANCE                                                      

        The  following  bar chart  shows the actual  performance  of Prime Money
     Market's  shares  for each  calendar  year since the  fund's  inception  on
     November 17, 1993.  The bar chart  indicates  the  volatility of the fund's
     historical  returns  from  year to  year.  Neither  the bar  chart  nor the
     performance  information below it is intended to indicate how the fund will
perform in the future.                                                

[bar chart]                                                                     
   -------------------------------------------------------------------------
CALENDAR YEAR-BY-YEAR RETURNS                                         
   -------------------------------------------------------------------------
1998       5.18%                                                      
1997       5.26%                                                      
1996       5.09%                                                      
1995       5.70%                                                      
1994       4.47%                                                      

        The  highest  and lowest  returns  of the  fund's  shares for a calendar
     quarter during the period reflected by the preceding bar chart are provided
     in the  following  chart  to  indicate  the  fund's  historical  short-term
volatility.                                                           

[bar chart]                                                                     
   -------------------------------------------------------------------------
HIGHEST AND LOWEST QUARTERLY RETURNS                                  
   -------------------------------------------------------------------------
Quarter Ended  3/31/95             1.47%                              
Quarter Ended  9/30/94             0.84%                              

        The following table shows the average annual return of the fund's shares
     for the periods  indicated.  The 90-Day  Treasury Bill Index,  an unmanaged
     index that  reflects no  operating  costs,  is included as a benchmark  for
     performance  comparisons.  The  index  is  derived  from  secondary  market
interest rates as published by the Federal Reserve Bank.              

                       1 YEAR        5 YEARS      LIFE OF FUND
   -------------------------------------------------------------------------
AVERAGE ANNUAL TOTAL RETURNS (PERIOD ENDED DECEMBER 31, 1998)         
   -------------------------------------------------------------------------
Prime Money Market          5.18%          5.14%          5.10%       
90-Day Treasury Bill Index  4.50%          4.95%          4.92%       

PRIME MONEY MARKET                         AMERICAN CENTURY INVESTMENTS         

4. WHAT ARE THE FUND'S FEES AND EXPENSES?                                       

        There  are no sales  loads,  fees or other  charges  to buy fund  shares
     directly from American Century, to reinvest dividends in additional shares,
     to exchange into the Investor Class shares of other American Century funds,
     or to redeem  your  shares.  The  following  table  describes  the fees and
expenses that you will pay if you buy and hold shares of the fund.    

   -------------------------------------------------------------------------
ANNUAL FUND OPERATING EXPENSES                                        
(EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS)                         
   -------------------------------------------------------------------------
Management Fee                            0.60%(1)                    
Distribution and Service (12b-1) Fees     None                        
Other Expenses(2)                         0.00%                       
Total Annual Fund Operating Expenses      0.60%                       

      (1)Based on assets as of February 28, 1998. The fund has a stepped fee
        schedule. As a result,  the fund's management fee generally decreases as
fund assets increase.                                           

    (2)Other expenses, which include the fees and expenses of the fund's
      independent directors, their legal counsel, interest and extraordinary
expenses, were less than 0.005% for the most recent fiscal year.

EXAMPLE                                                   

Assuming you . . .                                  
*   invest $10,000 in the fund                      
        *   redeem your shares at the end of the periods shown below
*   earn a 5% return each year                      
  *   incur the same fund operating expenses shown above

  . . . your cost of investing in the fund would be:

              1 year           3 years          5 years           10 years
            $60              $190             $340              $750

              Of course, actual costs may be higher or lower. Use this example
to compare the costs of investing in other funds. 

5. WHO ARE THE FUND'S INVESTMENT ADVISOR  AND PORTFOLIO MANAGERS?               

        American  Century  Investment   Management,   Inc.  provides  investment
     advisory and management  services for the fund. American Century uses teams
     of portfolio  managers,  assistant  portfolio managers and analysts working
     together to manage its mutual funds.  The  portfolio  managers on the Prime
team are identified below:                                            

        DENISE TABACCO,  Portfolio  Manager,  has been a member of the team that
     manages Prime since May 1996. She joined American Century in 1988, becoming
     a member of its  portfolio  department  in 1991.  She has a  bachelor's  in
     accounting  from San Diego  State  University  and an MBA degree in finance
from Golden Gate University.                                          

        JOHN F.  WALSH,  Portfolio  Manager,  has been a member of the team that
     manages Prime since May 1997. He joined  American  Century in February 1996
     as an Investment  Analyst.  Prior to joining American Century, he served as
     an Assistant  Vice  President  and Analyst at First  Interstate  Bank,  Los
     Angeles,  California,  from July 1993 to January  1996. He has a bachelor's
     degree  in  marketing  from  Loyla  Marymount  and an MBA in  finance  from
Creighton University.                                                 

6. HOW DO I BUY FUND SHARES?                                                    

*   Complete and return the enclosed application                        
*   Call us and exchange shares from another American Century fund      
*   Call us and send your investment by bank wire transfer              

        Your initial  investment must be at least $2,500 ($1,000 for traditional
     IRA and Roth IRA  accounts).  If the value of your account falls below this
account minimum, your shares may be redeemed involuntarily.           

7. HOW DO I SELL FUND SHARES?                                                   

        You may sell all or part of your  fund  shares  on any  business  day by
     writing or calling  us. You also may  exchange  your  shares in Prime Money
     Market  for shares in nearly 70 other  mutual  funds  offered  by  American
     Century.  Depending  on the options you select when you open your  account,
     some restrictions may apply. For your protection,  some redemption requests
require a signature guarantee.                                        

FUND PROFILE                                                 PRIME MONEY MARKET 

8. HOW ARE FUND DISTRIBUTIONS MADE AND TAXED?                                   

        Dividends are declared and available for redemption daily. Because Prime
     is a money  market  fund,  its  distributions  generally  will be  taxed as
     ordinary  income.  If the fund's  share  price  were to go up or down,  its
     annual   distributions   also  could  include   capital  gains  or  losses.
     Distributions are reinvested  automatically in additional shares unless you
choose another option.                                                

9. WHAT SERVICES ARE AVAILABLE?                                                 

        American Century offers several ways to make it easier for you to manage
your account, such as:                                                

*  telephone transactions                                             
*  wire and electronic funds transfers                                
*  24-hour Automated Information Line transactions                    
*  24-hour online Internet account access and transactions            

        You will find more  information  about  these  choices  in our  Investor
     Services Guide, which you may request by calling us, accessing our Web site
or visiting one of our Investor Centers.                              

        Information  contained  in  our  Investor  Services  Guide  pertains  to
     shareholders  who invest directly with American Century rather than through
    an employer-sponsored retirement plan or through a financial intermediary.

        If  you  own  or are  considering  purchasing  fund  shares  through  an
     employer-sponsored retirement plan or financial intermediary,  your ability
     to purchase shares of the fund,  exchange them for shares of other American
     Century  funds,  and redeem  them will  depend on the terms of your plan or
     financial  intermediary.  If  you  have  questions  about  investing  in an
     employer-sponsored  retirement  plan or through a  financial  intermediary,
call an Institutional Service Representative at 1-800-345-3533.       

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[american century logo(reg.sm)]                                                 
American                                                                        
Century                                                                         

AMERICAN CENTURY INVESTMENTS                                                    
P.O. BOX 419200                                                                 
KANSAS CITY, MISSOURI 64141-6200                                                

WWW.AMERICANCENTURY.COM                                                         

INVESTOR SERVICES                                                               
1-800-345-2021 or 816-531-5575                                                  

AUTOMATED INFORMATION LINE                                                      
1-800-345-8765                                                                  

CORPORATE; NOT-FOR-PROFIT; FOUNDATIONS; ENDOWMENTS; KEOGH; SEP- , SARSEP- , AND 
SIMPLE-IRA; AND 403(B) SERVICES                                                 
1-800-345-3533                                                                  

TELECOMMUNICATIONS DEVICE FOR THE DEAF                                          
1-800-634-4113 or 816-444-3485                                                  

FAX                                                                             
816-340-7962                                                                    

SH-PRF-14828   9901                                     Funds Distributor, Inc. 

Dates Referenced Herein   and   Documents Incorporated By Reference

This 497K3B Filing		Date		Other Filings
		11/17/93
		2/28/98		24F-2NT, N-30D, NSAR-B
		12/31/98
		1/15/99
Filed On / Filed As Of		1/19/99		497K2
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