AOL Launches Mutual Fund Center; Offers Transactions and Investment
Information Online Today

AOL Teams up with The Berger Funds, The Dreyfus Corporation, Fidelity
Investments, Founders Funds, The Kaufmann Fund, The Royce Funds. Strong
Funds, Scudder Funds, T. Rowe Price, Twentieth Century Funds, and The
Vanguard Group

Vienna, VA, April 1, 1996 -- America Online Inc. today launched the AOL
Mutual Fund Center (TM), offering AOL members the opportunity to learn
about mutual fund investing, obtain product information from America's
leading mutual fund companies, and conduct mutual fund transactions online
with select companies. The AOL Mutual Fund Center can be accessed at
Keywords: "Mutual Funds", "MFC" and "AOL MFC".

"AOL is the first online service to offer such comprehensive investing
services, and we're excited to be able to offer this to our members at no
additional charge," said Ted Leonsis, president of the AOL Services
company. "As a cornerstone to the Personal Finance Channel, the AOL Mutual
Fund Center offers a wealth of information to our members."

Along with obtaining prospectus and product information, members can
conduct transactions online. Services such as checking an account balance,
purchasing shares, conducting redemptions and exchanges will be available
from The Berger Funds, Founders Funds, and The Royce Funds. T. Rowe Price
will be offering transactions shortly. Each fund company will customize
its service for the AOL Mutual Fund Center, offering a variety of 24-hour
transaction options to members. Transaction capability is made possible
through an agreement with DST Systems Inc. Access to account information
is password protected, and members must already own shares in a fund
company before they can purchase or redeem shares online.

Prospectus, investment and product information is available from The
Dreyfus Corporation, Fidelity Investments, The Kaufmann Fund, Scudder
Funds, Strong Funds, Twentieth Century Funds, and The Vanguard Group.
Members can download mutual fund prospectus information and applications
as well as request this information be sent via US Mail.

The AOL Mutual Fund Resource Center (TM), located within the AOL Mutual
Fund Center, will provide AOL members with authoritative, objective,
reference and educational data necessary to perform evaluations of mutual
fund products. Members can access BusinessWeek Online, Consumer Reports on
Mutual Funds, Morningstar Mutual Funds, and link to Web-based investment
resources. Also planned are AOL LIVE! events with leading fund managers,
financial advisors and personal finance journalists. Message boards and
chat rooms will provide an interactive learning environment for AOL
members to discuss mutual fund investing amongst themselves.

America Online and DST Systems, Inc., which provides mutual fund transfer
agency systems to leading mutual fund companies, are working together to
provide online transactions conducted in the AOL Mutual Fund Center.
America Online does not house any shareholder account data but does
provide a connection to DST's Financial Access Network (TM) which routes
the data to the transfer agency systems of the participating fund
companies. The information is not transmitted via the Internet but through
a private connection directly from AOL to DST's computers in Kansas City.
Each shareholder conducting online transactions will establish their own
password that enables them to protect the privacy of the information in
their fund account. Services may vary from fund to fund. AOL members will
not pay any extra fees to conduct transactions online.

Based in Kansas City, Missouri, DST Systems, Inc. (NYSE: DST) is the
leading provider of record keeping and customer service solutions to the
mutual fund industry. DST's shareholder record keeping system, TA2000, is
used by more than 200 investment management companies to service 35
million shareholder accounts.

America Online, Inc., (NASDAQ symbol: AMER), based in Vienna, VA is the
largest and fastest growing provider of online services in the world with
the most active subscriber base. AOL offers its 5 million subscribers a
wide variety of services, including electronic mail, conferencing,
software, computing support, interactive magazines and newspapers and
online classes, as well as easy and affordable access to services of the
Internet. AOL has a global workforce consisting of more than 4,000 people.
Founded in 1985, AOL has established strategic alliances with dozens of
companies, including Capital Cities/ABC, Viacom, Bertelsmann, Hachette,
IBM, Compaq and American Express. Personal computer owners can obtain
America Online software at major retailers and bookstores, or by calling
800-827-6364.

What our partners are saying about AOL's Mutual Fund Center...

"AOL's Mutual Fund Center is charting the path for future interaction
between mutual fund families and their shareholders," said Craig Cloyed,
chief marketing officer of Berger Associates, Inc. "We at Berger
Associates are confident we will look back on our decision to be among the
first participants as a significant benefit both for our shareholders and
for The Berger Funds."

"Dreyfus is proud to deliver 'cutting-edge' to its customers," said
Christopher M. "Kip" Condron, president and COO of The Dreyfus
Corporation. "We're excited about participating in the AOL Mutual Fund
Center," Mr. Condron continued. "Here we can provide information to our
investors through the largest, fastest-growing online service available."

"We're committed to providing investors convenient access to the
information they need to make educated investment choices," says Laurine
Garrity, Director of Retail Marketing at Founders Funds. "Through the
technology of the AOL Mutual Fund Center, we're able to offer such
information in a medium that's being favored more and more by investors."

"The Kaufmann Fund has always been interested in using the latest
technology to educate and inform investors about the fund." said Tony
Toogood, VP marketing at Kaufmann. "We look forward to developing new
online interactions with the AOL community."

"We are proud to participate in this inaugural launch of AOL's Mutual Fund
Center," said John Diederich, director of operations for The Royce Funds.
"Our investors are now able to directly benefit from the growing impact of
the Information Age as technology increasingly provides on-demand access
to information."

Scudder is continually exploring ways in which we can provide convenient,
easy-to-access information, as we are firm believers that informed
investors become successful investors," said Dudley H. Ladd, managing
director of Scudder, Stevens & Clark Inc. "Scudder is pleased to
participate in the AOL Mutual Funds Center in recognition of the vast
number of consumers who rely on technology for information."

"We believe we can advance the skills and capabilities of investors by
helping them manage their finances using their home computers," says Jay
DeMartine, director of marketing at The Strong Funds. "Offering these
services is a top priority for our firm."

"Twentieth Century has long been committed to technological excellence,"
said W. Gordon Snyder, executive vice president of marketing for Twentieth
Century. "This partnership with AOL is a natural way for us to continue to
grow in terms of reach, service and interactivity."
 
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