American Beacon Large Cap Value Fund

Fund information as of March 31, 2008

Fund Overview

Total Fund Assets: $8.3 Billion

Institutional Class

PlanAhead Class®

Service Class

Inception Date

7/17/87

8/1/94

5/31/05

Class Assets

$2.6 Billion

$4.9 Billion

$94.4 Million

Fund NAV

$21.07

$20.08

$19.97

CUSIP

02368A208

02368A810

02368A356

Trading Symbol

AADEX

AAGPX

AVASX

Investment Minimum

$2 Million

$2,500

Fund Classes

Institutional Class shares are for those who make the decisions about where your company's pension funds or corporate cash will be invested or for others with at least $2 million to invest.
PlanAhead Class shares are offered to individual investors, retirement accounts, plan sponsors, discount brokers or other organizations.
Service Class shares are offered to all investors who invest through intermediary organizations, such as broker-dealers or third party administrators.

Investment Sub-Advisors

Metropolitan West Capital Management, LLC	30.9%
Barrow, Hanley, Mewhinney & Strauss, Inc.	30.7%
Brandywine Global Investment Management, LLC	30.7%
Hotchkis and Wiley Capital Management, LLC	7.7%

Expense Ratios

	Institutional Class	PlanAhead Class	Service Class

Gross Expense Ratio	0.60%	0.84%	1.08%
Net Expense Ratio1	0.59%	0.83%

¹The net expense ratio is net of acquired fund fees and expenses that the Fund incurred indirectly as a result of investment in certain pooled investment vehicles.

Investment Objective

A multi-manager Fund seeking long-term capital appreciation and current income primarily through investments in large market capitalization U.S. stocks.

Investment Style

The Fund's sub-advisors pursue a value style of investing. They select stocks that, in their opinion, have above-average earnings growth potential and are also selling at a discount to the market. To determine a company's growth prospects, each of the Fund's sub-advisors uses proprietary methods based upon a combination of internal and external research and analysis of changing economic trends. The value determination is based on each company's financial profile, including price-to-earnings ratio, price-to-book value ratio, assets carried below market value, financial strength, dividend yield, and growth expectations.

The Fund's assets are invested primarily in equity securities of large market capitalization U.S. companies. These companies generally have market capitalizations similar to the market capitalization of the companies in the Russell1000^® Index. These may consist of common and preferred stocks, convertible securities, U.S. dollar-denominated American Depositary Receipts, and U.S. dollar-denominated foreign stocks traded on U.S. exchanges.

Large Cap Value Fund Total Returns as of 3/31/2008

	QTR	YTD	1YR	3YR*	5YR*	10YR*

Institutional Class	-10.23	-10.23	-8.49	6.40	15.76	5.53
PlanAhead Class	-10.32	-10.32	-8.75	6.14	15.45	5.24
Service Class	-10.37	-10.37	-8.97	5.88	15.28	5.16

Lipper Index**	-9.54	-9.54	-8.00	5.51	11.91	3.92
Russell 1000® Value Index ***	-8.72	-8.72	-9.99	6.01	13.68	5.54

Performance shown is historical and may not be indicative of future returns. Investment returns will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, click here.

Lipper Rankings as of 3/31/2008

Category: Large-Cap Value Funds
	1YR	3YR	5YR	10YR
# of funds in category	536	463	381	161

Institutional Class	280	125	23	34
PlanAhead Class	284	147	25	39
Service Class	293	N/A	N/A	N/A

Lipper Quartile
Institutional Class	3rd	2nd	1st	1st
PlanAhead Class	3rd	2nd	1st	1st
Service Class	3rd	N/A	N/A	N/A

Lipper is an independent rating service that ranks mutual funds in various categories by making comparative calculations using total returns.

Equity Sector Weightings

	Fund
Financials	22.1
Industrials	14.6
Consumer Staples	12.1
Health Care	10.5
Energy	9.4
Information Technology	9.3
Consumer Discretionary	7.7
Telecommunication Services	6.1
Utilities	5.3
Materials	2.9

Asset Allocation

Equity	93.1
Equitized Cash	6.9

Portfolio Statistics

Equity	Fund
Price/Earnings Ratio	12.0
Price/Book Ratio	2.9
Wtd. Avg. Mkt. Cap ($ bil)	71.9

3-Year Risk Summary	Fund
R2	0.95
Alpha	0.04
Beta	0.96
Sharpe Ratio	0.23
Standard Deviation	8.66

Top Ten Holdings (%)

View All Holdings

ConocoPhillips

3.4

AT&T, Inc.

3.1

International Business Machines Corp.

2.9

Bank of America Corp.

2.3

JPMorgan Chase & Co.

2.1

Honeywell International, Inc.

1.7

Imperial Tobacco Group plc

1.6

Diageo plc

1.6

American International Group, Inc.

1.6

Verizon Communications, Inc.

1.5

Total Fund Holdings:

138

You should consider the investment objectives, risks, fees and expenses of any mutual fund carefully before investing. This and other information is available in the Fund's prospectus. Please read the prospectus carefully before investing.

* Annualized.
** Lipper Large-Cap Value Funds. The Lipper Large-Cap Value Funds Index tracks the results of the 30 largest mutual funds in the Lipper Large-Cap Value Funds category. Lipper is an independent mutual fund research and ranking service.
***The Russell 1000® Value Index is an unmanaged index of those stocks in the Russell 1000 Index with lower price-to-book ratios and lower forecasted growth values. The Russell 1000 and Russell 1000 Value Indices are registered trademarks of Frank Russell Company.

Performance shown prior to the 5/31/05 inception of the Service Class is that of the PlanAhead Class. The returns have not been adjusted for any difference between the fees and expenses of the Service Class and the historical fees and expenses of the PlanAhead Class. Because the PlanAhead Class had lower expenses, its performance was better than the Service Class would have realized during the same period. A portion of the fees charged to the Service Class of the Fund was waived in 2005. Performance prior to waiving fees was lower than the actual returns shown for 2005.

Distributed by Foreside Fund Services, LLC.