<PAGE> PAGE 1
000 A000000 06/30/99
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 27
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 SHORT TERM BOND 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 VOLATILITY CONSTRAINED BOND FUND
007 C031200 Y
007 C011300 13
007 C021300 INTERNATIONAL SECURITIES FUND
007 C031300 N
007 C011400 14
007 C021400 TAX EXEMPT BOND 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 AGGRESSIVE 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
007 C015100 51
007 C015200 52
007 C015300 53
007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
007 C016000 60
007 C016100 61
007 C016200 62
007 C016300 63
007 C016400 64
007 C016500 65
007 C016600 66
007 C016700 67
007 C016800 68
007 C016900 69
007 C017000 70
007 C017100 71
007 C017200 72
007 C017300 73
007 C017400 74
007 C017500 75
<PAGE> PAGE 4
007 C017600 76
007 C017700 77
007 C017800 78
007 C017900 79
007 C018000 80
007 C018100 81
007 C018200 82
007 C018300 83
007 C018400 84
007 C018500 85
007 C018600 86
007 C018700 87
007 C018800 88
007 C018900 89
007 C019000 90
010 A00AA01 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
010 C01AA01 TACOMA
010 C02AA01 WA
010 C03AA01 98402
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 PRICEWATERHOUSE COOPERS 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
015 B00AA02 S
015 C01AA02 BUENOS AIRES
015 D01AA02 ARGENTINA
015 E04AA02 X
015 A00AA03 WESTPAC BANKING CORPORATION
015 B00AA03 S
015 C01AA03 SYDNEY
<PAGE> PAGE 5
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 DELETE
015 A00AA05 STANDARD CHARTERED BANK
015 B00AA05 S
015 C01AA05 DHAKA
015 D01AA05 BANGLADESH
015 E04AA05 X
015 A00AA06 GENERALE DE 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 DELETE
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 COLUMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA11 S
015 C01AA11 BOGOTA
015 D01AA11 COLUMBIA
015 E04AA11 X
015 A00AA12 BARCLAYS BANK PLC
015 B00AA12 S
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 A00AA14 HONGKONG & SHANGHAI BANKING CORP.
015 B00AA14 S
015 C01AA14 SEOUL
015 D01AA14 KOREA
015 E04AA14 X
015 A00AA15 BANQUE PARIBAS
015 B00AA15 S
<PAGE> PAGE 6
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
015 B00AA24 S
015 C01AA24 MILAN
015 D01AA24 ITALY
015 E04AA24 X
015 A00AA25 DELETE
015 A00AA26 DELETE
015 A00AA27 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B00AA27 S
015 C01AA27 KUALA LUMPUR
015 D01AA27 MALAYSIA
015 E04AA27 X
015 A00AA28 CITIBANK MEXICO, S.A.
<PAGE> PAGE 7
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 CHRISTIANIA 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
015 E04AA34 X
015 A00AA35 BANCO COMERCIAL 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
<PAGE> PAGE 8
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 AG
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.
015 B00AA43 S
015 C01AA43 INSTANBUL
015 D01AA43 TURKEY
015 E04AA43 X
015 A00AA44 STATE STREET BANK AND TRUST COMPANY
015 B00AA44 S
015 C01AA44 LONDON
015 D01AA44 UNITED KINGDOM
015 E04AA44 X
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
<PAGE> PAGE 9
015 D01AA48 EGYPT
015 E04AA48 X
015 A00AA49 BARCLAYS BANK OF BOTSWANA LTD.
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 DELETE
015 A00AA53 DELETE
015 A00AA54 BARCLAYS BANK OF GHANA LTD.
015 B00AA54 S
015 C01AA54 ACCRA
015 D01AA54 GHANA
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 BANK POLSA KASA OPIEKI
015 B00AA59 S
015 C01AA59 WARSAW
015 D01AA59 POLAND
015 E04AA59 X
015 A00AA60 BARCLAYS BANK OF ZAMBIA LTD.
015 B00AA60 S
<PAGE> PAGE 10
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 MUMBAI
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
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.
015 B00AA67 S
015 C01AA67 QUITO
015 D01AA67 ECUADOR
015 E04AA67 X
015 A00AA68 CREDIT SUISSE FIRST BOSTON
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 BRITISH BANK OF THE MIDDLE EAST
015 B00AA70 S
015 C01AA70 BEIRUT
<PAGE> PAGE 11
015 D01AA70 LEBANON
015 E04AA70 X
015 A00AA71 THE BRITISH BANK OF THE MIDDLE EAST
015 B00AA71 S
015 C01AA71 MANAMA
015 D01AA71 BAHRAIN
015 E04AA71 X
015 A00AA72 THE HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B00AA72 S
015 C01AA72 BOMBAY
015 D01AA72 INDIA
015 E04AA72 X
015 A00AA73 THE FUJI BANK, LTD.
015 B00AA73 S
015 C01AA73 TOKYO
015 D01AA73 JAPAN
015 E04AA73 X
015 A00AA74 ERSTE BANKD DE OESTERREICHISHEN SPARKASSEN AG
015 B00AA74 S
015 C01AA74 VIENNA
015 D01AA74 AUSTRIA
015 E04AA74 X
015 A00AA75 ING BANK N.V.
015 B00AA75 S
015 C01AA75 SOFIA
015 D01AA75 BULGARIA
015 E04AA75 X
015 A00AA76 STATE STREET TRUST COMPANY
015 B00AA76 S
015 C01AA76 TORONTO
015 D01AA76 CANADA
015 E04AA76 X
015 A00AA77 PRIVREDNA BANKA ZAGREB D.D.
015 B00AA77 S
015 C01AA77 ZAGREB
015 D01AA77 CROATIA
015 E04AA77 X
015 A00AA78 HANSABANK
015 B00AA78 S
015 C01AA78 TALLINN
015 D01AA78 ESTONIA
015 E04AA78 X
015 A00AA79 ICEBANK LTD.
015 B00AA79 S
015 C01AA79 REYKJAVIK
015 D01AA79 ICELAND
015 E04AA79 X
015 A00AA80 SCOTIABANK JAMAICA TRUST & MERCHANT BANK LTD
015 B00AA80 S
015 C01AA80 KINGSTON
015 D01AA80 JAMAICA
<PAGE> PAGE 12
015 E04AA80 X
015 A00AA81 HANSABANK
015 B00AA81 S
015 C01AA81 RIGA
015 D01AA81 LATVIA
015 E04AA81 X
015 A00AA82 VILNIAUS BANKAS
015 B00AA82 S
015 C01AA82 VILNIUS
015 D01AA82 LITHUANIA
015 E04AA82 X
015 A00AA83 ING BANK
015 B00AA83 S
015 C01AA83 BUCHAREST
015 D01AA83 ROMANIA
015 E04AA83 X
015 A00AA84 BANKA CREDITANSTALT D.D.
015 B00AA84 S
015 C01AA84 LJUBLJANA
015 D01AA84 SLOVENIA
015 E04AA84 X
015 A00AA85 REPUBLIC BANK LIMITED
015 B00AA85 S
015 C01AA85 PORT-OF-SPAIN
015 D01AA85 TRINIDAD & TOBAGO
015 E04AA85 X
015 A00AA86 BANQUE INTERNATIONALE ARABE DE TUNISIE
015 B00AA86 S
015 C01AA86 TUNIS
015 D01AA86 TUNISIA
015 E04AA86 X
015 A00AA87 THE BRITISH BANK OF THE MIDDLE EAST
015 B00AA87 S
015 C01AA87 MUSCAT
015 D01AA87 OMAN
015 E04AA87 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 2
019 C00AA00 RLINSFUNDS
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000001 13-5674085
020 C000001 1660
020 A000002 MORGAN STANLEY & CO.
020 B000002 13-2655998
020 C000002 595
020 A000003 INVESTMENT TECHNOLOGY GROUP
020 B000003 95-4339369
020 C000003 565
020 A000004 FRANK RUSSELL SECURITIES, INC.
020 B000004 91-0604934
<PAGE> PAGE 13
020 C000004 385
020 A000005 BEAR, STEARNS SECURITIES
020 B000005 13-3299429
020 C000005 355
020 A000006 S.G. WARBURG & CO., INC.
020 B000006 13-3340045
020 C000006 349
020 A000007 GOLDMAN SACHS & CO.
020 B000007 13-5108880
020 C000007 336
020 A000008 INSTINET
020 B000008 13-3443395
020 C000008 326
020 A000009 CREDIT SUISSE FIRST BOSTON, INC.
020 B000009 13-5659485
020 C000009 297
020 A000010 LEHMAN BROTHERS, INC.
020 B000010 13-2518466
020 C000010 296
021 000000 9650
022 A000001 LEHMAN BROTHERS
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022 C000001 2740260
022 D000001 454109
022 A000002 MELLON BANK
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022 C000002 1894392
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022 A000003 IMPERIAL BANK OF CANADA
022 C000003 1787171
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022 A000004 MORGAN STANLEY AND CO., INC.
022 B000004 13-2655998
022 C000004 1498731
022 D000004 274994
022 A000005 PAINE WEBBER, INC.
022 B000005 13-2638166
022 C000005 1434614
022 D000005 22139
022 A000006 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000006 13-5674085
022 C000006 969864
022 D000006 448932
022 A000007 GOLDMAN SACHS
022 B000007 13-5108880
022 C000007 989870
022 D000007 422774
022 A000008 SALOMAN SMITH BARNEY
022 B000008 52-1568099
022 C000008 805477
022 D000008 535381
<PAGE> PAGE 14
022 A000009 PRUDENTIAL SECURITIES, INC.
022 B000009 22-2347336
022 C000009 692336
022 D000009 231090
022 A000010 CREDIT SUISSE FIRST BOSTON, INC.
022 B000010 13-5659485
022 C000010 572400
022 D000010 88317
023 C000000 33971751
023 D000000 10815922
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026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 Y
026 F000000 Y
026 G010000 N
026 G020000 Y
026 H000000 N
027 000000 Y
034 00AA00 N
035 00AA00 0
036 B00AA00 0
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1
077 A000000 N
078 000000 N
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080 C00AA00 3500
081 A00AA00 Y
081 B00AA00 1
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
<PAGE> PAGE 15
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
008 B000101 A
008 C000101 801-17141
008 D010101 TACOMA
008 D020101 WA
008 D030101 98402
008 A000102 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B000102 S
008 C000102 801-7492
008 D010102 MINNEAPOLIS
008 D020102 MN
008 D030102 55402
008 D040102 4322
008 A000103 BARCLAYS GLOBAL INVESTORS, N.A.
008 B000103 S
008 C000103 801-22609
008 D010103 SAN FRANCISCO
008 D020103 CA
008 D030103 94105
008 A000104 PEACHTREE ASSET MANAGEMENT
008 B000104 S
008 C000104 801-3387
008 D010104 ATLANTA
008 D020104 GA
008 D030104 30308
008 A000105 EQUINOX CAPITAL MANAGEMENT, INC.
008 B000105 S
008 C000105 801-34524
008 D010105 NEW YORK
008 D020105 NY
008 D030105 10022
008 A000106 JACOBS LEVY EQUITY MANAGEMENT, INC.
008 B000106 S
008 C000106 801-28257
008 D010106 ROSELAND
008 D020106 NJ
008 D030106 07068
008 A000107 LINCOLN CAPITAL MANAGEMENT CO.
008 B000107 S
008 C000107 801-11417
008 D010107 CHICAGO
008 D020107 IL
008 D030107 60606
008 A000108 TRINITY INVESTMENT MANAGEMENT CORP.
<PAGE> PAGE 16
008 B000108 S
008 C000108 801-11312
008 D010108 BOSTON
008 D020108 MA
008 D030108 02116
008 A000109 MARISCO CAPITAL MANAGEMENT, L.L.C.
008 B000109 S
008 C000109 801-54914
008 D010109 DENVER
008 D020109 CO
008 D030109 80202
008 A000110 SUFFOLK CAPITAL MANAGEMENT, INC.
008 B000110 S
008 C000110 801-3631D
008 D010110 NEW YORK
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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 27
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<PAGE> PAGE 30
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 35
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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 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 55
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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008 A000801 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
008 B000801 A
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<PAGE> PAGE 58
008 A000806 LINCOLN CAPITAL MANAGEMENT CO.
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008 D020806 IL
008 D030806 60606
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008 B000808 S
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008 B000809 S
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<PAGE> PAGE 59
025 D000802 300
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<PAGE> PAGE 60
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<PAGE> PAGE 61
054 D000800 N
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<PAGE> PAGE 62
070 E010800 Y
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<PAGE> PAGE 63
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<PAGE> PAGE 64
008 A000901 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
008 B000901 A
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<PAGE> PAGE 65
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<PAGE> PAGE 66
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<PAGE> PAGE 67
054 H000900 Y
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<PAGE> PAGE 68
070 G010900 Y
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<PAGE> PAGE 69
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008 A001001 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
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<PAGE> PAGE 70
008 D021001 WA
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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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008 A001101 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
008 B001101 A
008 C001101 801-17141
008 D011101 TACOMA
008 D021101 WA
008 D031101 98402
008 A001103 STANDISH, AYER & WOOD, INC.
008 B001103 S
008 C001103 801-584
008 D011103 BOSTON
008 D021103 MA
008 D031103 02111
008 A001104 LINCOLN CAPITAL MANAGEMENT CO.
008 B001104 S
008 C001104 801-11417
008 D011104 CHICAGO
008 D021104 IL
008 D031104 60606
008 A001105 PACIFIC INVESTMENT MANAGEMENT CO.
008 B001105 S
008 C001105 801-48187
008 D011105 NEWPORT BEACH
008 D021105 CA
008 D031105 92660
024 001100 Y
025 A001101 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
<PAGE> PAGE 76
025 B001101 13-5674085
025 C001101 D
025 D001101 2290
025 A001102 BEAR, STEARNS SECURITIES
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025 C001102 D
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025 A001103 SALOMON SMITH BARNEY
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025 C001103 D
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025 A001104 DELETE
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025 A001105 LEHMAN BROTHERS
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025 C001105 D
025 D001105 1210
025 A001106 MORGAN STANLEY DEAN WITTER
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025 C001106 D
025 D001106 1200
025 A001107 PAINE WEBBER
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025 C001107 D
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025 A001108 DELETE
025 D001108 0
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028 B021100 5108
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028 C011100 58199
028 C021100 2316
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<PAGE> PAGE 77
028 D021100 2458
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028 H001100 0
029 001100 N
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030 C001100 0.00
031 A001100 0
031 B001100 0
032 001100 0
033 001100 0
037 001100 N
038 001100 0
039 001100 N
040 001100 Y
041 001100 Y
042 A001100 0
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042 C001100 100
042 D001100 0
042 E001100 0
042 F001100 0
042 G001100 0
042 H001100 0
043 001100 5
044 001100 0
045 001100 Y
046 001100 N
047 001100 Y
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048 A011100 0
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048 B011100 0
048 B021100 0.000
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048 C021100 0.000
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048 D021100 0.000
<PAGE> PAGE 78
048 E011100 0
048 E021100 0.000
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048 F021100 0.000
048 G011100 0
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048 H011100 0
048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 0
048 K021100 0.000
049 001100 N
050 001100 N
051 001100 N
052 001100 N
053 A001100 N
054 A001100 Y
054 B001100 N
054 C001100 N
054 D001100 N
054 E001100 N
054 F001100 N
054 G001100 N
054 H001100 Y
054 I001100 N
054 J001100 Y
054 K001100 N
054 L001100 N
054 M001100 N
054 N001100 Y
054 O001100 N
062 A001100 Y
062 B001100 0.0
062 C001100 0.0
062 D001100 0.0
062 E001100 0.0
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062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 11.6
062 M001100 18.3
062 N001100 8.0
062 O001100 0.0
062 P001100 20.0
062 Q001100 52.0
<PAGE> PAGE 79
062 R001100 0.3
063 A001100 0
063 B001100 9.4
064 A001100 Y
064 B001100 N
066 A001100 N
067 001100 N
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 Y
070 A021100 N
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 Y
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 Y
070 L011100 N
070 L021100 N
070 M011100 Y
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 N
070 Q011100 Y
070 Q021100 N
070 R011100 Y
070 R021100 N
071 A001100 650082
071 B001100 582922
071 C001100 838275
071 D001100 70
072 A001100 6
<PAGE> PAGE 80
072 B001100 24277
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074 K001100 0
074 L001100 10455
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<PAGE> PAGE 81
074 P001100 332
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008 C001201 801-17141
008 D011201 TACOMA
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008 D031201 98402
008 A001203 DELETE
008 A001204 STANDISH, AYER & WOOD, INC.
008 B001204 S
008 C001204 801-584
008 D011204 BOSTON
008 D021204 MA
008 D031204 02111
008 A001205 STW FIXED INCOME MANAGEMENT
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008 C001205 801-48761
008 D011205 HAMILTON
008 D051205 BERMUDA
008 D061205 HMKX
024 001200 N
025 A001201 DELETE
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025 A001202 DELETE
025 D001202 0
025 A001203 DELETE
025 D001203 0
025 A001204 DELETE
025 D001204 0
025 A001205 DELETE
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025 D001206 0
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<PAGE> PAGE 82
028 A011200 3993
028 A021200 0
028 A031200 0
028 A041200 32117
028 B011200 1
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028 C021200 0
028 C031200 0
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028 F021200 0
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028 F041200 0
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028 G021200 1659
028 G031200 0
028 G041200 217804
028 H001200 0
029 001200 N
030 A001200 0
030 B001200 0.00
030 C001200 0.00
031 A001200 0
031 B001200 0
032 001200 0
033 001200 0
037 001200 N
038 001200 0
039 001200 N
040 001200 N
041 001200 N
042 A001200 0
042 B001200 0
042 C001200 0
042 D001200 0
042 E001200 0
042 F001200 0
042 G001200 0
042 H001200 0
043 001200 0
<PAGE> PAGE 83
044 001200 0
045 001200 Y
046 001200 N
047 001200 Y
048 001200 0.500
048 A011200 0
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048 B011200 0
048 B021200 0.000
048 C011200 0
048 C021200 0.000
048 D011200 0
048 D021200 0.000
048 E011200 0
048 E021200 0.000
048 F011200 0
048 F021200 0.000
048 G011200 0
048 G021200 0.000
048 H011200 0
048 H021200 0.000
048 I011200 0
048 I021200 0.000
048 J011200 0
048 J021200 0.000
048 K011200 0
048 K021200 0.000
049 001200 N
050 001200 N
051 001200 N
052 001200 N
053 A001200 N
054 A001200 N
054 B001200 N
054 C001200 N
054 D001200 N
054 E001200 N
054 F001200 N
054 G001200 N
054 H001200 N
054 I001200 N
054 J001200 N
054 K001200 N
054 L001200 N
054 M001200 N
054 N001200 N
054 O001200 N
062 A001200 Y
062 B001200 0.0
062 C001200 0.0
062 D001200 0.0
<PAGE> PAGE 84
062 E001200 0.0
062 F001200 0.0
062 G001200 0.0
062 H001200 0.0
062 I001200 0.0
062 J001200 0.0
062 K001200 0.0
062 L001200 0.0
062 M001200 0.0
062 N001200 0.0
062 O001200 0.0
062 P001200 0.0
062 Q001200 0.0
062 R001200 0.0
063 A001200 0
063 B001200 0.0
064 A001200 Y
064 B001200 N
066 A001200 N
067 001200 N
068 A001200 N
068 B001200 N
069 001200 N
070 A011200 Y
070 A021200 N
070 B011200 Y
070 B021200 N
070 C011200 Y
070 C021200 N
070 D011200 Y
070 D021200 N
070 E011200 Y
070 E021200 N
070 F011200 Y
070 F021200 N
070 G011200 Y
070 G021200 N
070 H011200 Y
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 Y
070 K021200 N
070 L011200 N
070 L021200 N
070 M011200 Y
070 M021200 N
070 N011200 Y
070 N021200 N
<PAGE> PAGE 85
070 O011200 Y
070 O021200 N
070 P011200 Y
070 P021200 N
070 Q011200 Y
070 Q021200 N
070 R011200 Y
070 R021200 N
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071 B001200 0
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072 B001200 1732
072 C001200 46
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072 F001200 135
072 G001200 15
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072 I001200 8
072 J001200 4
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072 L001200 0
072 M001200 0
072 N001200 3
072 O001200 0
072 P001200 0
072 Q001200 0
072 R001200 1
072 S001200 0
072 T001200 0
072 U001200 0
072 V001200 0
072 W001200 1
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072 Y001200 0
072 Z001200 1609
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072DD021200 0
072EE001200 0
073 A011200 0.2449
073 A021200 0.0000
073 B001200 0.0000
073 C001200 0.0000
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<PAGE> PAGE 86
074 C001200 0
074 D001200 0
074 E001200 0
074 F001200 0
074 G001200 0
074 H001200 0
074 I001200 0
074 J001200 0
074 K001200 0
074 L001200 0
074 M001200 0
074 N001200 0
074 O001200 0
074 P001200 0
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
074 R041200 0
074 S001200 0
074 T001200 0
074 U011200 0
074 U021200 0
074 V011200 0.00
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074 W001200 0.0000
074 X001200 5
074 Y001200 0
075 A001200 0
075 B001200 60282
076 001200 0.00
008 A001301 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
008 B001301 A
008 C001301 801-17141
008 D011301 TACOMA
008 D021301 WA
008 D031301 98402
008 A001302 MONTGOMERY ASSET MANAGEMENT
008 B001302 S
008 C001302 801-36790
008 D011302 SAN FRANCISCO
008 D021302 CA
008 D031302 94111
008 A001303 J.P. MORGAN INVESTMENT MANAGEMENT, INC.
008 B001303 S
008 C001303 801-21011
008 D011303 LONDON
008 D051303 ENGLAND
008 D061303 SW1Y6XA
008 A001304 SANFORD C. BERNSTEIN & CO., INC.
008 B001304 S
<PAGE> PAGE 87
008 C001304 801-10488
008 D011304 NEW YORK
008 D021304 NY
008 D031304 10153
008 A001305 OECHSLE INTERNATIONAL ADVISORS, LLC
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008 C001305 801-28111
008 D011305 BOSTON
008 D021305 MA
008 D031305 02110
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008 A001307 DELAWARE ASSET MANAGEMENT
008 B001307 S
008 C001307 801-37702
008 D011307 LONDON
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008 D061307 EC2V6EE
008 A001308 THE BOSTON COMPANY ASSET MANAGEMENT, INC.
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008 C001308 801-06829
008 D011308 BOSTON
008 D021308 MA
008 D031308 02108
008 D041308 4402
008 A001309 MASTHOLM ASSET MANAGEMENT, LLC
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008 D011309 BELLEVUE
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008 D031309 98004
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025 D001303 0
025 A001304 CREDIT SUISSE FIRST BOSTON
025 B001304 13-5659485
025 C001304 E
025 D001304 320
025 D001305 0
025 D001306 0
025 D001307 0
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<PAGE> PAGE 88
025 D001309 0
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028 G021300 687
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030 A001300 0
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030 C001300 0.00
031 A001300 0
031 B001300 0
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033 001300 0
037 001300 N
038 001300 0
039 001300 N
040 001300 Y
041 001300 Y
042 A001300 0
<PAGE> PAGE 89
042 B001300 0
042 C001300 100
042 D001300 0
042 E001300 0
042 F001300 0
042 G001300 0
042 H001300 0
043 001300 2
044 001300 0
045 001300 Y
046 001300 N
047 001300 Y
048 001300 0.900
048 A011300 0
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048 B011300 0
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048 C011300 0
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048 D011300 0
048 D021300 0.000
048 E011300 0
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048 F011300 0
048 F021300 0.000
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048 H021300 0.000
048 I011300 0
048 I021300 0.000
048 J011300 0
048 J021300 0.000
048 K011300 0
048 K021300 0.000
049 001300 N
050 001300 N
051 001300 N
052 001300 N
053 A001300 N
054 A001300 Y
054 B001300 Y
054 C001300 N
054 D001300 N
054 E001300 N
054 F001300 N
054 G001300 N
054 H001300 Y
054 I001300 N
054 J001300 Y
054 K001300 N
<PAGE> PAGE 90
054 L001300 N
054 M001300 N
054 N001300 Y
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062 A001300 N
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062 P001300 0.0
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063 A001300 0
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066 A001300 Y
066 B001300 N
066 C001300 N
066 D001300 N
066 E001300 N
066 F001300 N
066 G001300 Y
067 001300 N
068 A001300 N
068 B001300 Y
069 001300 N
070 A011300 Y
070 A021300 N
070 B011300 Y
070 B021300 N
070 C011300 Y
070 C021300 N
070 D011300 Y
070 D021300 N
070 E011300 Y
070 E021300 N
070 F011300 Y
070 F021300 Y
070 G011300 Y
070 G021300 N
070 H011300 Y
070 H021300 N
<PAGE> PAGE 91
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 Y
070 K021300 Y
070 L011300 Y
070 L021300 Y
070 M011300 Y
070 M021300 Y
070 N011300 Y
070 N021300 Y
070 O011300 Y
070 O021300 N
070 P011300 Y
070 P021300 N
070 Q011300 Y
070 Q021300 N
070 R011300 Y
070 R021300 N
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071 B001300 610083
071 C001300 896897
071 D001300 68
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<PAGE> PAGE 92
072BB001300 72125
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008 A001401 FRANK RUSSELL INVESTMENT MANAGEMENT CO.
008 B001401 A
008 C001401 801-17141
008 D011401 TACOMA
008 D021401 WA
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<PAGE> PAGE 93
008 C001403 801-46433
008 D011403 BOSTON
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008 D031403 02116
008 D041403 3741
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<PAGE> PAGE 94
030 B001400 0.00
030 C001400 0.00
031 A001400 0
031 B001400 0
032 001400 0
033 001400 0
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038 001400 0
039 001400 N
040 001400 N
041 001400 N
042 A001400 0
042 B001400 0
042 C001400 0
042 D001400 0
042 E001400 0
042 F001400 0
042 G001400 0
042 H001400 0
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048 I021400 0.000
048 J011400 0
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048 K021400 0.000
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050 001400 N
051 001400 N
052 001400 N
<PAGE> PAGE 95
053 A001400 N
054 A001400 Y
054 B001400 N
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<PAGE> PAGE 96
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<PAGE> PAGE 97
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<PAGE> PAGE 99
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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
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<PAGE> PAGE 105
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<PAGE> PAGE 106
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<PAGE> PAGE 107
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<PAGE> PAGE 108
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<PAGE> PAGE 110
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<PAGE> PAGE 113
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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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<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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<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 142
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<PAGE> PAGE 143
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<PAGE> PAGE 146
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<PAGE> PAGE 153
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<PAGE> PAGE 156
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<PAGE> PAGE 157
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<PAGE> PAGE 158
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<PAGE> PAGE 159
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<PAGE> PAGE 160
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<PAGE> PAGE 161
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<PAGE> PAGE 162
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<PAGE> PAGE 163
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<PAGE> PAGE 164
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<PAGE> PAGE 165
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<PAGE> PAGE 166
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<PAGE> PAGE 167
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<PAGE> PAGE 168
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<PAGE> PAGE 169
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<PAGE> PAGE 170
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<PAGE> PAGE 171
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<PAGE> PAGE 172
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<PAGE> PAGE 174
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SIGNATURE MARK SWANSON
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 1
<NAME> EQUITY I FUND - CLASS E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> FIXED I FUND - CLASS E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> SHORT TERM BOND FUND - CLASS C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> SHORT TERM BOND FUND - CLASS E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> EMERGING MARKETS FUND - CLASS C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NUMBER> 21
<NAME> EMERGING MARKETS FUND - CLASS E
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 21
<NAME> EMERGING MARKETS FUND - CLASS S
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> EQUITY T
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[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
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<NAME> DIVERSIFIED EQUITY FUND - CLASS C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 8
<NAME> DIVERSIFIED EQUITY FUND - CLASS E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> DIVERSIFIED EQUITY FUND - CLASS S
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> REAL ESTATE SECURITIES FUND - CLASS C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> SPECIAL GROWTH FUND - CLASS E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> SPECIAL GROWTH FUND - CLASS S
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 10
<NAME> EQUITY INCOME FUND - CLASS C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> EQUITY INCOME FUND - CLASS E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> EQUITY INCOME FUND - CLASS S
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> DIVERSIFIED BOND FUND - CLASS C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> DIVERSIFIED BOND FUND - CLASS E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> VOLATILITY CONSTRAINED BOND FUND
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> MULTISTRATEGY BOND FUND - CLASS C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> U.S. GOVERNMENT MONEY MARKET FUND
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<S> <C>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 14
<NAME> TAX EXEMPT BOND FUND - CLASS C
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<S> <C>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 14
<NAME> TAX EXEMPT BOND FUND - CLASS E
<MULTIPLIER> 1000
<S> <C>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 14
<NAME> TAX EXEMPT BOND FUND - CLASS S
<MULTIPLIER> 1000
<S> <C>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 18
<NAME> TAX FREE MONEY MARKET FUND
<MULTIPLIER> 1000
<S> <C>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 17
<NAME> QUANTITATIVE EQUITY FUND - CLASS C
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<S> <C>
<PERIOD-TYPE> 6-MONTHS
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 17
<NAME> QUANTITATIVE EQUITY FUND - CLASS E
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<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
<SERIES>
<NUMBER> 17
<NAME> QUANTITATIVE EQUITY FUND - CLASS S
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> AGGRESSIVE STRATEGY FUND C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> AGGRESSIVE STRATEGY FUND E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> BALANCED STRATEGY FUND C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> BALANCED STRATEGY FUND D
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> BALANCED STRATEGY FUND E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> MODERATE STRATEGY FUND C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK>
<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> MODERATE STRATEGY FUND D
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> MODERATE STRATEGY FUND E
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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<NAME> EQUITY AGGRESSIVE STRATEGY FUND C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> FRANK RUSSELL INVESTMENT COMPANY
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