Filed pursuant to Rule 497(e)
under the Securities Act of 1933,
as amended.
File No. 002-71299
File No. 811-03153
Institutional Funds
Frank Russell Investment Company
Supplement Dated May 18, 1998
To the Prospectus Dated May 1, 1998
Effective May 18, 1998, Frank Russell Investment Company makes the following
changes to its Institutional Funds Prospectus:
In the section "Eligible Investors," the first sentences in the second and third
paragraphs are restated to read:
"The initial minimum aggregate investment in any combination of the
Funds described in this Prospectus and Specialty Funds offered pursuant
to the Specialty Funds' Prospectus is $5 million."
Effective May 18, 1998, the Equity I Fund will be managed by the following
additional money manager:
Morgan Stanley Asset Management, Inc., 1221 Avenue of the Americas, New
York, NY 10020, is a wholly owned subsidiary of Morgan Stanley Dean
Witter & Co., a publicly held corporation.
a:fr-supin.ed
