Current Month End Performance

All performance is historical and does not represent future results. The value of an investment in the equity and bond funds will fluctuate up and down. When you sell your shares of these funds, they could be worth more or less than you paid for them.

Month-End Performance
as of 10/30/2008 (%)
Cash Management Class Funds
Fund Name	Fund #	Ticker	Gross Expense Ratio	Net Expense Ratio 1	YTD	1 YR	3 YR	5 YR	10 YR	Since Incep.	Inception Date* (Inst., Cash Mgmt)
Money Market	#1900	AAEXX		0.15	0.64	2.51	3.34	4.50	3.49	3.67	9/1/87, 12/1/01
US Govt. Money Market	#64	AAUXX		0.15	0.47	2.07	2.84	4.28	3.32	3.54	3/2/92, 12/1/01
Institutional Class Funds
Fund Name	Fund #	Ticker	Gross Expense Ratio	Net Expense Ratio 1	YTD	1 YR	3 YR	5 YR	10 YR	Since Incep.	Inception Date
Balanced	#65	AADBX	0.58	0.57	-25.46	-28.23	-3.76	2.14	3.34	7.51	7/17/87
Large Cap Value	#66	AADEX	0.60	0.59	-36.05	-39.59	-6.57	2.44	2.93	8.16	7/17/87
Large Cap Growth	#1949	ALCGX	1.06	0.90	-36.63	-39.48	-8.81	-2.83	N/A	-8.61	7/31/00
Mid-Cap Value	#2167	AACIX	1.10	0.98	-36.85	-40.96	-9.69	N/A	N/A	-3.24	6/30/04,11/30/05
Small Cap Value	#370	AVFIX	0.81	0.80	-28.85	-34.84	-7.15	1.61	N/A	7.55	12/31/98
Small Cap Value Opp.	#2247	ASOIX	1.28	1.05	-27.15	-34.49	N/A	N/A	N/A	-13.89	3/31/06
International Equity	#67	AAIEX	0.68	0.67	-42.46	-44.81	-5.08	3.80	3.82	6.80	8/7/91
Emerging Markets	#1950	AEMFX	1.41		-52.38	-55.58	-1.33	8.38	N/A	6.05	7/31/00
S&P 500 Index	#902	AASPX	0.13		-32.91	-36.16	-5.31	0.13	0.23	3.85	12/31/96
Small Cap Index	#1951	ASCIX	0.20		-28.94	-34.12	-4.92	1.40	N/A	2.04	7/31/00
International Equity Index	#1952	AIIIX	0.19		-42.56	-46.21	-4.82	3.86	N/A	-0.87	7/31/00
High Yield Bond	#1409	AYBFX	0.82	0.81	-25.85	-27.03	-5.34	-0.75	N/A	3.35	12/29/00
Intermediate Bond	#68	AABDX	0.35	0.34	-2.41	-0.26	3.47	3.40	4.59	5.19	9/15/97
Short-Term Bond	#69	AASBX	0.38	0.37	1.24	2.21	4.12	3.14	4.30	5.69	12/3/87
TIPS	#2038	ATPIX	0.43	0.35	-5.28	-1.60	2.30	N/A	N/A	2.80	6/30/04
Money Market	#62	AADXX		0.18	2.49	3.31	4.45	3.41	3.61	4.91	9/1/87
PlanAhead Class Funds
Fund Name	Fund #	Ticker	Gross Expense Ratio	Net Expense Ratio 1	YTD	1 YR	3 YR	5 YR	10 YR	Since Incep.	Inception Date* (Inst., PlanAhead)
Balanced	#98	AABPX	0.84	0.83	-25.60	-28.39	-3.99	1.84	3.07	7.32	7/17/87, 8/1/94
Large Cap Value	#99	AAGPX	0.84	0.83	-36.18	-39.72	-6.78	2.19	2.66	7.94	7/17/87, 8/1/94
Mid-Cap Value	#2246	AMPAX	1.27	1.23	-36.99	-41.14	-9.90	N/A	N/A	-3.39	6/30/04,11/30/05,2/28/06
Small Cap Value	#748	AVPAX	1.06	1.05	-29.04	-35.03	-7.38	1.36	N/A	7.28	12/31/98, 3/1/99
Small Cap Value Opp.	#2248	ASOPX	1.71	1.30	-27.24	-34.60	N/A	N/A	N/A	-13.99	3/31/06
International Equity	#100	AAIPX	0.93		-42.60	-44.96	-5.32	3.53	3.59	6.57	8/7/91, 8/1/94
Emerging Markets	#105	AAEPX	1.77		-52.57	-55.77	-1.68	8.07	N/A	5.81	7/31/00, 10/1/02
S&P 500 Index	#904	AAFPX	0.63		-33.18	-36.51	-5.76	-0.33	-0.21	3.46	12/31/96, 3/2/98
Enhanced Income	#2013	AANPX	0.95	0.94	-10.72	-10.02	0.71	1.62	N/A	1.58	7/1/03
High Yield Bond	#1902	AHYPX	1.04	1.03	-26.02	-27.23	-5.57	-1.01	N/A	3.10	12/29/00, 3/1/02
Short-Term Bond	#101	AALPX	0.99	0.54	0.79	1.54	3.53	2.57	3.78	5.34	12/3/87, 8/1/94
Money Market	#102	APAXX	0.48		2.23	3.00	4.16	3.13	3.32	4.70	9/1/87, 8/1/94
US Govt. Money Market	#104	AUPXX		0.63	1.66	2.36	3.80	2.88	3.13	3.64	3/2/92, 8/1/94
Service Class Funds
Fund Name	Fund #	Ticker	Gross Expense Ratio	Net Expense Ratio 1	YTD	1 YR	3 YR	5 YR	10 YR	Since Incep.	Inception Date* (Inst., PlanAhead,Service)
Balanced	#2162	ABLSX	1.08	1.07	-25.80	-28.58	-4.25	1.62	2.96	7.26	7/17/87,8/1/94,5/31/05
Large Cap Value	#2163	AVASX	1.08		-36.31	-39.87	-7.01	2.01	2.57	7.90	7/17/87,8/1/94,5/31/05
Mid-Cap Value	#2249	AMDIX	1.81	1.50	-37.11	-41.24	-9.98	N/A	N/A	-3.45	6/30/04,11/30/05,2/28/06,6/29/07
Small Cap Value	#2036	AASSX	1.32		-29.15	-35.19	-7.62	1.09	N/A	7.12	12/31/98, 3/1/99, 5/1/03
International Equity	#2035	AAISX	1.15	1.12	-42.74	-45.10	-5.58	3.26	3.43	6.47	8/7/91, 8/1/94, 5/1/03
Mileage Funds
Fund Name	Fund #	Ticker	Gross Expense Ratio	Net Expense Ratio 1	YTD	1 YR	3 YR	5 YR	10 YR	Since Incep.	Inception Date* (Inst., Mlg.)
Money Market	#89	AVMXX		0.72	2.09	2.80	3.99	3.02	3.24	4.61	9/1/87, 11/1/91
Select Funds
Fund Name	Fund #	Ticker	Gross Expense Ratio	Net Expense Ratio 1	YTD	1 YR	3 YR	5 YR	10 YR	Since Incep.	Inception Date* (Inst., Mlg.)
Money Market	#1201	ASRXX		0.19	2.53	3.37	4.54	3.52	3.72	4.96	9/1/87,12/31/99
US Govt. Money Market	#1901	AAOXX		0.15	2.10	2.87	4.33	3.38	3.58	4.01	3/2/92,12/1/01
*Performance shown represents returns achieved by the Institutional Class from date of Institutional Class inception to date of  represented class inception and has not been adjusted for any difference between the historical fees and expenses of the Institutional Class and the represented class.

For a prospectus containing more information, including expenses, Click here. Read it carefully before you invest or send money.
An investment in the Money Market Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. Although these Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Funds.

PlanAhead Class Performance represents total returns achieved by the Institutional Class from the inception date of each Fund up to the inception date of the PlanAhead Class and returns of the PlanAhead Class since its inception. The historical performance has not been adjusted for any difference in the fees and expenses of the PlanAhead Class and the historical fees and expenses of the Institutional Class. A portion of the fees charged to the Small Cap Value, Short-Term Bond and the S&P 500 Index Funds has been waived, and therefore total returns prior to waiving fees are lower than the actual returns shown. Inception dates of the PlanAhead Class are: Balanced, Large Cap Value, International Equity and Short-Term Bond, 8/1/94; S&P 500 Index and Intermediate Bond, 3/2/98; Small Cap Value, 3/1/99 and High Yield Bond, 3/1/02.

Cash Management Class performance represents total returns achieved by the Institutional Class from 9/1/87 up to the 12/01/01 inception date of the Cash Management Class. Historical performance has not been adjusted for any difference in the fees and expenses of the Cash Management Class and Institutional Class.

Service Class performance represents total returns achieved by the Institutional Class from 9/1/87 up to the 5/01/03 inception date of the Service Class. Historical performance has not been adjusted for any difference in the fees and expenses of the Service Class and Institutional Class.

Each American Beacon Mileage Fund ("Mileage Fund") invests its assets in a master Portfolio. The Portfolio's predecessor funds, the American AAdvantage Funds invest in the same Portfolios. Performance shown represents returns of the Institutional Class of each American Beacon Fund from its inception through the inception date of the Mileage Class of each American Beacon Fund, returns of each Mileage Class since its inception up to the inception date of each Mileage Fund and returns of each Mileage Fund since its inception. A portion of the fees charged to the Mileage Funds has been waived. Total returns prior to waiving fees are lower than the actual returns shown.Returns have not been adjusted for differences in the fees and expenses of the Mileage Funds and the historical fees and expenses of the American Beacon Funds.

Intermediate Bond Fund-Institutional Class - Performance shown reflects the Fund's one-time receipt in December 2006 of class action settlement proceeds that were related to investment activity in 2002. The Fund's performance for all periods that include December 2006 was significantly higher than it would have been absent receipt of the settlement proceeds.

Short-Term Bond Fund- Institutional and PlanAhead Class - Performance shown reflects the Fund's one-time receipt in December 2006 of class action settlement proceeds that were related to investment activity in 2002. The Fund's performance for all periods that include December 2006 was significantly higher than it would have been absent receipt of the settlement proceeds.

¹Expense Ratio Footnotes
Institutional Class
The net expense ratios for the Institutional Class of the following Funds are net of expense reimbursements that American Beacon Advisors has contractually agreed to maintain through February 29, 2008: Large Cap Growth, Mid-Cap Value, Small Cap Value Opportunity, Treasury Inflation Protected Securities (TIPS) and Money Market Funds.
The net expense ratios for the Institutional Class of the following funds are net of acquired fund fees and expenses that the Fund incurred indirectly as a result of investment in certain pooled investment vehicles: Balanced, Large Cap Value, Small Cap Value, International Equity, Emerging Markets, High Yield Bond, Intermediate Bond, and Short-Term Bond Funds.

PlanAhead Class
The net expense ratios for the PlanAhead Class of the following Funds are net of expense reimbursements that American Beacon Advisors has contractually agreed to maintain through February 28, 2009: Mid-Cap Value, Small Cap Value Opportunity, Short-Term Bond, and U.S. Government Money Market Funds.
The net expense ratios for the PlanAhead Class of the following funds are net of acquired fund fees and expenses that the Fund incurred indirectly as a result of investment in certain pooled investment vehicles: Balanced, Large Cap Value, Small Cap Value, International Equity, High Yield Bond, and Enhanced Income Funds.

Service Class
The net expense ratio for the Service Class of the Balanced Fund is net of expense reimbursements that American Beacon Advisors has contractually agreed to maintain through February 28, 2009.
The net expense ratios for the Service Class of the following funds are net of acquired fund fees and expenses that the Fund incurred indirectly as a result of investment in certain pooled investment vehicles: Large Cap Value, Small Cap Value, and International Equity Funds.

Cash Management Class
The net expense ratios for the Cash Management Class of the following Funds are net of expense reimbursements that American Beacon Advisors has contractually agreed to maintain through February 28, 2009: Money Market and U.S. Government Money Market Funds.

Select Funds
The net expense ratio for the U.S. Government Select Fund is net of expense reimbursements that American Beacon Advisors has contractually agreed to maintain through February 28, 2009.