June 14, 2004 — Two portfolio managers will be added to the AXP Small Cap Advantage Fund/A (ASAAX) next month.

American Express stock pickers Dimitris Bertsimas and Jonathan Calvert will join Jacob Hurwitz and Kent Kelley on the $839-million fund.

All four managers use computer screens to decide which stocks to buy and sell a spokesman for the fund complex said.

Bertsimas is a co-manager of the AXP Quantitative Large-Cap Equity Fund. He and Calvert also are part of the team that oversees the stock portion of AXP Managed Allocation Fund/B (IMRBX), which also holds bonds. Bertsimas and Calvert invest in growing companies as well as undervalued stocks, the spokesman, Paul Johnson, said.

Before joining American Express, Bertsimas had been a partner with Dynamic Ideas LLC, a consulting firm that developed quantitative screens for asset management companies. Bertsimas helped found the firm, which was acquired by American Express two years ago.

Calvert joined American Express last year from Grantham, Mayo, van Otterloo LLC, an asset management firm where he was a partner and oversaw portfolios of domestic and foreign stocks.

Contact Robert F. Keane with questions and comments at:

bkeane@ia-mag.com.