<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 0000351601
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FRANK RUSSELL INVESTMENT COMPANY
001 B000000 811-3153
001 C000000 2066277001
002 A000000 909 A STREET
002 B000000 TACOMA
002 C000000 WA
002 D010000 98402
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 28
007 C010100 1
007 C020100 EQUITY I FUND
007 C030100 N
007 C010200 2
007 C020200 EQUITY II FUND
007 C030200 N
007 C010300 3
007 C020300 EQUITY III FUND
007 C030300 N
007 C010400 4
007 C020400 FIXED I FUND
007 C030400 N
007 C010500 5
007 C020500 FIXED II FUND
007 C030500 N
007 C010600 6
007 C020600 INTERNATIONAL FUND
007 C030600 N
007 C010700 7
007 C020700 MONEY MARKET FUND
007 C030700 N
007 C010800 8
007 C020800 DIVERSIFIED EQUITY FUND
007 C030800 N
007 C010900 9
007 C020900 SPECIAL GROWTH FUND
007 C030900 N
007 C011000 10
007 C021000 EQUITY INCOME FUND
<PAGE> PAGE 2
007 C031000 N
007 C011100 11
007 C021100 DIVERSIFIED BOND FUND
007 C031100 N
007 C011200 12
007 C021200 VOLALITILITY CONSTRAINED BOND FUND
007 C031200 N
007 C011300 13
007 C021300 INTERNATIONAL SECURITIES FUND
007 C031300 N
007 C011400 14
007 C021400 LIMITED VOLITLITY TAX FREE FUND
007 C031400 N
007 C011500 15
007 C021500 US GOVERNMENT MONEY MARKET FUND
007 C031500 N
007 C011600 16
007 C021600 EQUITY Q FUND
007 C031600 N
007 C011700 17
007 C021700 QUANTITATIVE EQUITY FUND
007 C031700 N
007 C011800 18
007 C021800 TAX FREE MONEY MARKET FUND
007 C031800 N
007 C011900 19
007 C021900 REAL ESTATE SECURITIES FUND
007 C031900 N
007 C012000 20
007 C022000 FIXED INCOME III FUND
007 C032000 N
007 C012100 21
007 C022100 EMERGING MARKETS FUND
007 C032100 N
007 C012200 22
007 C022200 MULTISTRATEGY BOND FUND
007 C032200 N
007 C012300 23
007 C022300 EQUITY T FUND
007 C032300 N
007 C012400 24
007 C022400 EQUITY BALANCED STRATEGY FUND
007 C032400 N
007 C012500 25
007 C022500 AGGRESSIVE STRATEGY FUND
007 C032500 N
007 C012600 26
007 C022600 BALANCED STRATEGY FUND
007 C032600 N
007 C012700 27
007 C022700 MODERATE STRATEGY FUND
<PAGE> PAGE 3
007 C032700 N
007 C012800 28
007 C022800 CONSERVATIVE STRATEGY FUND
007 C032800 N
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
011 A00AA01 RUSSELL FUND DISTRIBUTORS, INC.
011 B00AA01 8-21771
011 C01AA01 TACOMA
011 C02AA01 WA
011 C03AA01 98402
012 A00AA01 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
012 B00AA01 84-01626
012 C01AA01 TACOMA
012 C02AA01 WA
012 C03AA01 98402
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 FRANK RUSSELL SECURITIES, INC.
014 B00AA01 8-000329
014 A00AA02 RUSSELL FUND DISTRIBUTORS, INC.
014 B00AA02 8-21771
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
015 A00AA02 CITIBANK, N.A., ARGENTINA
<PAGE> PAGE 4
015 B00AA02 S
015 C01AA02 BUENOS AIRES
015 D01AA02 ARGENTINA
015 E04AA02 X
015 A00AA03 WESTPAC BANKING CORPORATION
015 B00AA03 S
015 C01AA03 SYDNEY
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 GIROCREDIT BANK
015 B00AA04 S
015 C01AA04 VIENNA
015 D01AA04 AUSTRIA
015 E04AA04 X
015 A00AA05 STANDARD CHARTERED BANK
015 B00AA05 S
015 C01AA05 DHAKA
015 D01AA05 BANGLADESH
015 E04AA05 X
015 A00AA06 GENERALE BANK
015 B00AA06 S
015 C01AA06 BRUSSELS
015 D01AA06 BELGIUM
015 E04AA06 X
015 A00AA07 CITIBANK, N.A., BRAZIL
015 B00AA07 S
015 C01AA07 SAO PAULO
015 D01AA07 BRAZIL
015 E04AA07 X
015 A00AA08 CANADA TRUSTCO MORTGAGE COMPANY
015 B00AA08 S
015 C01AA08 TORONTO
015 D01AA08 CANADA
015 E04AA08 X
015 A00AA09 CITIBANK, N.A., CHILE
015 B00AA09 S
015 C01AA09 SANTIAGO
015 D01AA09 CHILE
015 E04AA09 X
015 A00AA10 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B00AA10 S
015 C01AA10 SHANGHAI - SHENZHEN
015 D01AA10 CHINA
015 E04AA10 X
015 A00AA11 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA11 S
015 C01AA11 BOGOTA
015 D01AA11 COLUMBIA
015 E04AA11 X
015 A00AA12 BARCLAYS BANK PLC
015 B00AA12 S
<PAGE> PAGE 5
015 C01AA12 NICOSIA
015 D01AA12 CYPRUS
015 E04AA12 X
015 A00AA13 DEN DANSKE BANK
015 B00AA13 S
015 C01AA13 COPENHAGEN
015 D01AA13 DENMARK
015 E04AA13 X
015 A00AA15 BANQUE PARIBAS
015 B00AA15 S
015 C01AA15 PARIS
015 D01AA15 FRANCE
015 E04AA15 X
015 A00AA17 NATIONAL BANK OF GREECE SA
015 B00AA17 S
015 C01AA17 ATHENS
015 D01AA17 GREECE
015 E04AA17 X
015 A00AA18 STANDARD CHARTERED BANK
015 B00AA18 S
015 C01AA18 HONG KONG
015 D01AA18 HONG KONG
015 E04AA18 X
015 A00AA19 CITIBANK BUDAPEST RT.
015 B00AA19 S
015 C01AA19 BUDAPEST
015 D01AA19 HUNGARY
015 E04AA19 X
015 A00AA20 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B00AA20 S
015 C01AA20 ABIDJAN
015 D01AA20 IVORY COAST
015 E04AA20 X
015 A00AA21 STANDARD CHARTERED BANK
015 B00AA21 S
015 C01AA21 JAKARTA
015 D01AA21 INDONESIA
015 E04AA21 X
015 A00AA22 BANK OF IRELAND
015 B00AA22 S
015 C01AA22 DUBLIN
015 D01AA22 IRELAND
015 E04AA22 X
015 A00AA23 BANK HAPOALIM B.M.
015 B00AA23 S
015 C01AA23 TEL AVIV
015 D01AA23 ISRAEL
015 E04AA23 X
015 A00AA24 BANQUE PARIBAS - MILAN
015 B00AA24 S
015 C01AA24 MILAN
<PAGE> PAGE 6
015 D01AA24 ITALY
015 E04AA24 X
015 A00AA25 SUMITOMO TRUST & BANKING CO., LTD.
015 B00AA25 S
015 C01AA25 TOKYO
015 D01AA25 JAPAN
015 E04AA25 X
015 A00AA26 SEOULBANK
015 B00AA26 S
015 C01AA26 SEOUL
015 D01AA26 KOREA
015 E04AA26 X
015 A00AA27 STANDARD CHARTERED BANK
015 B00AA27 S
015 C01AA27 KUALA LUMPUR
015 D01AA27 MALAYSIA
015 E04AA27 X
015 A00AA28 CITIBANK N.A., MEXICO
015 B00AA28 S
015 C01AA28 MEXICO CITY
015 D01AA28 MEXICO
015 E04AA28 X
015 A00AA29 MEESPIERSON N.V.
015 B00AA29 S
015 C01AA29 AMSTERDAM
015 D01AA29 NETHERLANDS
015 E04AA29 X
015 A00AA30 ANZ BANKING GROUP (NEW ZEALAND) LTD.
015 B00AA30 S
015 C01AA30 WELLINGTON
015 D01AA30 NEW ZEALAND
015 E04AA30 X
015 A00AA31 CHRISTIANA BANK OG KREDITKASSE
015 B00AA31 S
015 C01AA31 OSLO
015 D01AA31 NORWAY
015 E04AA31 X
015 A00AA32 DEUTSCHE BANK AG, PAKISTAN
015 B00AA32 S
015 C01AA32 KARACHI
015 D01AA32 PAKISTAN
015 E04AA32 X
015 A00AA33 CITIBANK, N.A., PERU
015 B00AA33 S
015 C01AA33 LIMA
015 D01AA33 PERU
015 E04AA33 X
015 A00AA34 STANDARD CHARTERED BANK
015 B00AA34 S
015 C01AA34 MANILA
015 D01AA34 PHILIPPINES
<PAGE> PAGE 7
015 E04AA34 X
015 A00AA35 BANCO COMERICAL PORTUGUES
015 B00AA35 S
015 C01AA35 LISBON
015 D01AA35 PORTUGAL
015 E04AA35 X
015 A00AA36 THE DEVELOPMENT BANK OF SINGAPORE, LTD.
015 B00AA36 S
015 C01AA36 SINGAPORE
015 D01AA36 SINGAPORE
015 E04AA36 X
015 A00AA37 BANCO SANTANDER, S.A.
015 B00AA37 S
015 C01AA37 MADRID
015 D01AA37 SPAIN
015 E04AA37 X
015 A00AA38 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B00AA38 S
015 C01AA38 COLUMBIA
015 D01AA38 SRI LANKA
015 E04AA38 X
015 A00AA39 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA39 S
015 C01AA39 STOCKHOLM
015 D01AA39 SWEDEN
015 E04AA39 X
015 A00AA40 UNION BANK OF SWITZERLAND
015 B00AA40 S
015 C01AA40 ZURICH
015 D01AA40 SWITZERLAND
015 E04AA40 X
015 A00AA41 CENTRAL TRUST OF CHINA
015 B00AA41 S
015 C01AA41 TAIPEI
015 D01AA41 TAIWAN
015 E04AA41 X
015 A00AA42 STANDARD CHARTERED BANK
015 B00AA42 S
015 C01AA42 BANGKOK
015 D01AA42 THAILAND
015 E04AA42 X
015 A00AA43 CITIBANK, N.A., TURKEY
015 B00AA43 S
015 C01AA43 INSTANBUL
015 D01AA43 TURKEY
015 E04AA43 X
015 A00AA44 STATE STREET BANK AND TRUST CO., LONDON, UK
015 B00AA44 S
015 C01AA44 LONDON
015 D01AA44 UNITED KINGDOM
015 E04AA44 X
<PAGE> PAGE 8
015 A00AA45 CITIBANK, N.A., URUGUAY
015 B00AA45 S
015 C01AA45 MONTEVIDEO
015 D01AA45 URUGUAY
015 E04AA45 X
015 A00AA46 CITIBANK, N.A., VENEZUELA
015 B00AA46 S
015 C01AA46 CARACAS
015 D01AA46 VENEZUELA
015 E04AA46 X
015 A00AA47 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B00AA47 S
015 C01AA47 PRAGUE
015 D01AA47 CZECH REPUBLIC
015 E04AA47 X
015 A00AA48 NATIONAL BANK OF EGYPT
015 B00AA48 S
015 C01AA48 CAIRO
015 D01AA48 EGYPT
015 E04AA48 X
015 A00AA49 BARCLAYS BANK OF BOTSWANA
015 B00AA49 S
015 C01AA49 GABORONE
015 D01AA49 BOTSWANA
015 E04AA49 X
015 A00AA50 CITIBANK POLAND S.A.
015 B00AA50 S
015 C01AA50 WARSAW
015 D01AA50 POLAND
015 E04AA50 X
015 A00AA51 STANDARD BANK OF SOUTH AFRICA LTD.
015 B00AA51 S
015 C01AA51 JOHANNESBURG
015 D01AA51 SOUTH AFRICA
015 E04AA51 X
015 A00AA52 CHEMICAL BANK
015 B00AA52 C
015 C01AA52 NEW YORK
015 C02AA52 NY
015 C03AA52 10017
015 E01AA52 X
015 A00AA53 BANK OF NEW YORK
015 B00AA53 C
015 C01AA53 NEW YORK
015 C02AA53 NY
015 C03AA53 10286
015 E01AA53 X
015 A00AA54 BARCLAYS BANK OF GHANA LTD.
015 B00AA54 S
015 C01AA54 ACCRA
015 D01AA54 GHANA
<PAGE> PAGE 9
015 E04AA54 X
015 A00AA55 THE BRITISH BANK OF THE MIDDLE EAST
015 B00AA55 S
015 C01AA55 AMMAN
015 D01AA55 JORDAN
015 E04AA55 X
015 A00AA56 BARCLAYS BANK OF KENYA LTD.
015 B00AA56 S
015 C01AA56 NAIROBI
015 D01AA56 KENYA
015 E04AA56 X
015 A00AA57 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B00AA57 S
015 C01AA57 PORT LOUIS
015 D01AA57 MAURITIUS
015 E04AA57 X
015 A00AA58 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B00AA58 S
015 C01AA58 BRATISLAVA
015 D01AA58 SLOVAK REPUBLIC
015 E04AA58 X
015 A00AA59 BARCLAYS BANK OF SWAZILAND LTD.
015 B00AA59 S
015 C01AA59 MBABANE
015 D01AA59 SWAZILAND
015 E04AA59 X
015 A00AA60 BARCLAYS BANK OF ZAMBIA LTD.
015 B00AA60 S
015 C01AA60 LUSKA
015 D01AA60 ZAMBIA
015 E04AA60 X
015 A00AA61 BARCLAYS BANK OF ZIMBABWE LTD.
015 B00AA61 S
015 C01AA61 HARARE
015 D01AA61 ZIMBABWE
015 E04AA61 X
015 A00AA62 DEUTSCHE BANK, AG
015 B00AA62 S
015 C01AA62 BOMBAY
015 D01AA62 INDIA
015 E04AA62 X
015 A00AA63 MERITA BANK, LTD.
015 B00AA63 S
015 C01AA63 HELSINKI
015 D01AA63 FINLAND
015 E04AA63 X
015 A00AA64 DRESDNER BANK AG
015 B00AA64 S
015 C01AA64 FRANKFURT
015 D01AA64 GERMANY
015 E04AA64 X
<PAGE> PAGE 10
015 A00AA65 THE DAIWA BANK, LTD.
015 B00AA65 S
015 C01AA65 TOKYO
015 D01AA65 JAPAN
015 E04AA65 X
015 A00AA66 BANQUE COMMERCIALE DU MAROC
015 B00AA66 S
015 C01AA66 CASABLANCA
015 D01AA66 MOROCCO
015 E04AA66 X
015 A00AA67 CITIBANK, N.A., ECUADOR
015 B00AA67 S
015 C01AA67 QUITO
015 D01AA67 ECUADOR
015 E04AA67 X
015 A00AA68 CREDIT SUISSE
015 B00AA68 S
015 C01AA68 MOSCOW
015 D01AA68 RUSSIA
015 E04AA68 X
015 A00AA69 THE BANK OF BERMUDA LIMITED
015 B00AA69 S
015 C01AA69 HAMILTON
015 D01AA69 BERMUDA
015 E04AA69 X
015 A00AA70 THE BRITISH BANK OF THE MIDDLE EAST
015 B00AA70 S
015 C01AA70 BEIRUT
015 D01AA70 LEBANON
015 E04AA70 X
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019 A00AA00 Y
019 B00AA00 1
019 C00AA00 RLINSFUNDS
020 A000001 MERRILL LYNCH, PIERCE, FENNER, INC.
020 B000001 13-5674085
020 C000001 559
020 A000002 INVESTMENT TECHNOLOGY GROUP
020 B000002 95-4339369
020 C000002 545
020 A000003 FRANK RUSSELL SECURITIES, INC.
020 B000003 91-0604934
020 C000003 523
020 A000004 GOLDMAN SACHS & CO.
020 B000004 13-5108880
020 C000004 382
020 A000005 JAMES CAPEL & CO.
020 C000005 381
020 A000006 MORGAN STANLEY & CO., INC.
020 B000006 13-2655998
020 C000006 378
<PAGE> PAGE 11
020 A000007 BEAR, STEARNS SECURITIES
020 B000007 13-3299429
020 C000007 320
020 A000008 S.G. WARBURG
020 C000008 256
020 A000009 INSTINET CORP.
020 B000009 13-3443395
020 C000009 245
020 A000010 LEHMAN BROTHERS INC.
020 B000010 13-2518466
020 C000010 211
021 000000 8792
022 A000001 HSBC SECURITIES, INC.
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022 C000001 5659299
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022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002 4778291
022 D000002 263021
022 A000003 BARCLAYS DE ZOETE WEDD SECURITIES, INC.
022 B000003 13-3551367
022 C000003 3186765
022 D000003 12559
022 A000004 MERRILL LYNCH, PRICE, FENNER & SMITH, INC.
022 B000004 13-5674085
022 C000004 683601
022 D000004 360359
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005 568393
022 D000005 342571
022 A000006 ASSOC. CORP OF NORTH AMERICA
022 B000006 13-1917220
022 C000006 856050
022 D000006 0
022 A000007 INDUSTRIAL BANK OF JAPAN
022 C000007 724472
022 D000007 0
022 A000008 MORGAN STANLEY AND CO., INC.
022 B000008 13-2655998
022 C000008 460956
022 D000008 263049
022 A000009 BANQUE NATIONALE DE PARIS
022 C000009 676073
022 D000009 0
022 A000010 PAINEWEBBER
022 B000010 13-2638166
022 C000010 441686
022 D000010 176366
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<PAGE> PAGE 12
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026 H000000 N
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057 00AA00 N
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059 00AA00 Y
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077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
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<PAGE> PAGE 13
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
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008 C000101 801-17141
008 D010101 TACOMA
008 D020101 WA
008 D030101 98402
008 A000102 ALLIANCE CAPITAL MANAGEMENT L.P.
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008 C000102 801-7492
008 D010102 MINNEAPOLIS
008 D020102 MN
008 D030102 55402
008 A000103 BZW BARCLAYS GLOBAL FUND ADVISORS
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008 C000103 801-22609
008 D010103 SAN FRANSICO
008 D020103 CA
008 D030103 94105
008 A000104 PEACHTREE ASSET MANAGEMENT
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008 C000104 801-3387
008 D010104 ATLANTA
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008 D030104 30308
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008 C000105 801-34524
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008 D030105 10022
008 A000106 INVESCO CAPITAL MANAGEMENT, INC.
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<PAGE> PAGE 14
008 D030106 30309
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008 D010107 CHICAGO
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008 D030107 60606
008 A000108 TRINITY INVESTMENT MANAGEMENT CORP.
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008 D020108 MA
008 D030108 02116
008 A000110 SUFFOLK CAPITAL MANAGEMENT, INC.
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025 B000103 135674085
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025 D000103 6797
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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054 B000100 N
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054 E000100 N
054 F000100 N
054 G000100 N
054 H000100 N
054 I000100 N
054 J000100 N
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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<PAGE> PAGE 56
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<PAGE> PAGE 57
070 I020800 N
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<PAGE> PAGE 58
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<PAGE> PAGE 59
008 D010903 BOSTON
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<PAGE> PAGE 60
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<PAGE> PAGE 61
048 B020900 0.000
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054 E000900 N
054 F000900 N
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054 H000900 N
054 I000900 N
054 J000900 N
054 K000900 N
054 L000900 N
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<PAGE> PAGE 62
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<PAGE> PAGE 63
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<PAGE> PAGE 64
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008 A001001 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
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<PAGE> PAGE 65
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<PAGE> PAGE 66
039 001000 N
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<PAGE> PAGE 67
054 H001000 N
054 I001000 N
054 J001000 N
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<PAGE> PAGE 68
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<PAGE> PAGE 69
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008 A001101 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
008 B001101 A
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<PAGE> PAGE 70
008 D021101 WA
008 D031101 98402
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<PAGE> PAGE 71
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<PAGE> PAGE 72
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<PAGE> PAGE 73
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<PAGE> PAGE 74
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<PAGE> PAGE 75
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<PAGE> PAGE 76
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<PAGE> PAGE 77
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054 D001200 N
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<PAGE> PAGE 78
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<PAGE> PAGE 79
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<PAGE> PAGE 80
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<PAGE> PAGE 81
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<PAGE> PAGE 82
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<PAGE> PAGE 83
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<PAGE> PAGE 84
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<PAGE> PAGE 85
070 R011300 Y
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<PAGE> PAGE 86
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<PAGE> PAGE 87
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<PAGE> PAGE 88
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<PAGE> PAGE 89
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<PAGE> PAGE 90
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<PAGE> PAGE 91
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<PAGE> PAGE 92
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<PAGE> PAGE 93
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<PAGE> PAGE 94
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<PAGE> PAGE 95
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<PAGE> PAGE 96
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<PAGE> PAGE 97
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<PAGE> PAGE 98
030 B001600 0.00
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<PAGE> PAGE 99
053 A001600 N
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054 I001600 N
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<PAGE> PAGE 100
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<PAGE> PAGE 101
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<PAGE> PAGE 102
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<PAGE> PAGE 103
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<PAGE> PAGE 104
048 B011700 0
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048 K021700 0.000
049 001700 N
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052 001700 N
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054 A001700 N
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054 E001700 N
054 F001700 N
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054 H001700 N
054 I001700 N
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<PAGE> PAGE 105
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070 A011700 Y
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<PAGE> PAGE 106
070 P021700 N
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<PAGE> PAGE 107
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<PAGE> PAGE 108
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<PAGE> PAGE 109
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<PAGE> PAGE 110
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<PAGE> PAGE 111
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<PAGE> PAGE 112
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<PAGE> PAGE 113
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<PAGE> PAGE 114
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<PAGE> PAGE 115
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<PAGE> PAGE 116
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<PAGE> PAGE 117
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008 A002001 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
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<PAGE> PAGE 118
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<PAGE> PAGE 119
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<PAGE> PAGE 120
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<PAGE> PAGE 121
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<PAGE> PAGE 122
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<PAGE> PAGE 123
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<PAGE> PAGE 124
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<PAGE> PAGE 125
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<PAGE> PAGE 126
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<PAGE> PAGE 127
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<PAGE> PAGE 128
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008 A002201 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
008 B002201 A
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<PAGE> PAGE 129
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<PAGE> PAGE 130
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<PAGE> PAGE 131
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<PAGE> PAGE 132
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<PAGE> PAGE 133
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<PAGE> PAGE 134
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<PAGE> PAGE 135
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<PAGE> PAGE 136
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<PAGE> PAGE 137
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<PAGE> PAGE 138
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<PAGE> PAGE 139
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<PAGE> PAGE 140
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<PAGE> PAGE 141
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<PAGE> PAGE 142
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<PAGE> PAGE 143
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<PAGE> PAGE 144
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<PAGE> PAGE 145
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<PAGE> PAGE 146
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<PAGE> PAGE 147
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<PAGE> PAGE 148
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<PAGE> PAGE 149
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<PAGE> PAGE 150
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<PAGE> PAGE 151
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<PAGE> PAGE 152
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<PAGE> PAGE 153
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<PAGE> PAGE 154
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<PAGE> PAGE 155
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<PAGE> PAGE 156
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<PAGE> PAGE 157
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SIGNATURE MARK SWANSON
TITLE ASSISTANT TREASURER
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