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SPECIALTY FUNDS
FRANK RUSSELL INVESTMENT COMPANY
Supplement Dated April 19, 1999
To The Prospectus Dated January 15, 1999
Effective April 19, 1999, the Emerging Markets Fund are managed by the
following money managers:
Foreign & Colonial Emerging Markets Limited, Exchange House, Primrose
Street, London, England EC2A 2 NY, is an investment adviser registered
with the United Kingdom Investment Management Regulatory Organisation, is
a wholly owned subsidiary of Hypo Foreign & Colonial Management (Holding)
Limited ("HFCM") the holding company of the Foreign & Colonial Group of
Fund managers which manages $40 billion world wide. HFCM is controlled by
Bayerische Hypo-und Vereinsbank AG the second largest commercial bank in
Germany.
Genesis Asset Managers, Ltd. 21 Knightsbridge, London, SW1X7LY, is a
limited liability company organized under the laws of the state of
Guernsey, the Channel Islands, and has been engaged in the investment
advisory business since 1990. Genesis Asset Managers, Ltd., is registered
as an investment adviser under the Investment Advisers Act of 1940, as
amended. Genesis Asset Managers Ltd. is affiliated with and has common
investment executives with the Genesis Group of fund management companies.
The Genesis Group, whose holding company is Genesis Holdings International
Ltd. is controlled 55% by management and assorted interests, and the
balance held by outside shareholders, with the largest single holding
being 15%.
J.P. Morgan Investment Management Inc., 555 Fifth Ave. New York, NY 10036,
is a wholly owned subsidiary of J.P. Morgan & Co., Inc., a publicly held
bank holding company.
Montgomery Asset Management LLC., 101 California Street, 35th Floor, San
Francisco, CA 94111 is a Delaware limited liability company with majority
ownership held by Commerzbank AG, a foreign banking organization.
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Nicholas-Applegate Capital Management, 600 W. Broadway, 32nd Fl. San
Diego, CA 92101, is a California limited partnership whose general partner
is icholas-Applegate Capital Management Holdings, L.P., a California
limited partnership controlled by Nicholas-Applegate Capital Management
Holdings, Inc. a California corporation controlled by Arthur E. Nicholas.
Sanford C. Bernstein & Co. Inc., 767 Fifth Avenue, New York, NY 10153, is
a registered investment adviser. Founded in 1967, Bernstein is controlled
by its Board of Directors, which consists of the following individuals:
Andrew S. Adelson, Zalman C. Bernstein, Kevin R. Rine, Charles C. Cahn,
Jr., Marilyn Goldstein Fedak, Michael L. Goldstein, Roger Hertog, Lewis A.
Sanders and Francis H. Trainer, Jr.
Schroders Capital Management International Limited, 31 Gresham Street,
London, UK., EC2V 7QA is 100% owned by Shroders plc, which is publicly
traded on the London Stock Exchange.
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LIFEPOINTS FUND
FRANK RUSSELL INVESTMENT COMPANY
Supplement Dated April 19, 1999
To The Prospectus Dated January 15, 1999
As Supplemented Through April 7, 1999
Effective April 19, 1999, the Emerging Markets Fund are managed by the
following money managers:
Foreign & Colonial Emerging Markets Limited, Exchange House, Primrose
Street, London, England EC2A 2 NY, is an investment adviser registered
with the United Kingdom Investment Management Regulatory Organisation, is
a wholly owned subsidiary of Hypo Foreign & Colonial Management (Holdings)
Limited ("HFCM") the holding company of the Foreign & Colonial Group of
Fund managers which manages $40 billion worldwide. HFCM is controlled by
Bayerische Hypo-und Vereinsbank AG the second largest commercial bank in
Germany.
Genesis Asset Managers, Ltd. 21 Knightsbridge, London, SW1X7LY, is a
limited liability company organized under the laws of the state of
Guernsey, the Channel Islands, and has been engaged in the investment
advisory business since 1990. Genesis Asset Managers, Ltd., is registered
as an investment adviser under the Investment Advisers Act of 1940, as
amended. Genesis Asset Managers Ltd. is affiliated with and has common
investment executives with the Genesis Group of fund management companies.
The Genesis Group, whose holding company is Genesis Holdings International
Ltd. is controlled 55% by management and assorted interests, and the
balance held by outside shareholders, with the largest single holding
being 15%.
J.P. Morgan Investment Management Inc., 555 Fifth Ave. New York, NY 10036,
is a wholly owned subsidiary of J.P. Morgan & Co., Inc., a publicly held
bank holding company.
Montgomery Asset Management LLC., 101 California Street, 35th Floor, San
Francisco, CA 94111 is a Delaware limited liability company with majority
ownership held by Commerzbank AG, a foreign banking organization.
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Nicholas-Applegate Capital Management, 600 W. Broadway, 32nd Fl. San
Diego, CA 92101, is a California limited partnership whose general partner
is Nicholas-Applegate Capital Management Holdings, L.P., a California
limited partnership controlled by Nicholas-Applegate Capital Management
Holdings, Inc. a California corporation controlled by Arthur E. Nicholas.
Sanford C. Bernstein & Co. Inc., 767 Fifth Avenue, New York, NY 10153, is
a registered investment adviser. Founded in 1967, Bernstein is controlled
by its Board of Directors, which consists of the following individuals:
Andrew S. Adelson, Zalman C. Bernstein, Kevin R. Rine, Charles C. Cahn,
Jr., Marilyn Goldstein Fedak, Michael L. Goldstein, Roger Hertog, Lewis A.
Sanders and Francis H. Trainer, Jr.
Schroders Capital Management International Limited, 31 Gresham Street,
London, UK, EC2V 7QA is 100% owned by Shroders plc, which is publicly
traded on the London Stock Exchange.
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