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FOR USE IN MARYLAND ONLY
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FRANK RUSSELL INVESTMENT COMPANY
CLASS C SHARES
SUPPLEMENT DATED AUGUST 9, 1996
TO THE PROSPECTUS DATED JULY 8, 1996
Frank Russell Investment Company makes the following changes to its Class C
Shares Prospectus:
Under the section "Investment Objectives, Restrictions, Policies and Risks -
Futures Contracts and Options on Futures Contracts" the first paragraph is
amended as follows:
"Each Fund may invest more than 5% of its assets in interest rate
futures contracts, stock index futures contracts and foreign currency
futures contracts and options thereon, which may be considered
derivative securities, that are traded on a United States or foreign
exchange or board of trade."
Under the section "Investment Objectives, Restrictions, Policies and Risks -
High Risk Bonds" the first sentence is amended as follows:
"The Funds, other than the Emerging Markets and Multistrategy Bond
Funds, do not invest assets in securities rated less than BBB by S&P or
Baa by Moody's (which may be considered "junk bonds"), or in unrated
securities judged by the money managers to be of a lesser credit quality
than those designations."
