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Frank Russell Investment Company
Supplement Dated October 30, 2000
To the Statement of Additional Information
Dated May 1, 2000 as Supplemented through September 29, 2000
The following information restates the section entitled "Money Manager
Information" for the Diversified Equity, Equity I, Special Growth, Equity II,
Equity Income, Equity III and Real Estate Securities Funds in their entirety in
the Statement of Additional Information of Frank Russell Investment Company.
MONEY MANAGER INFORMATION
Diversified Equity and Equity I Funds
Alliance Capital Management L.P. is a limited partnership owned (i) 35.3%
by Alliance Capital Management Holding L.P., a publicly traded limited
partnership and (ii) approximately 62.5% by AXA Financial, Inc. ("AXA
Financial"). AXA Financial is controlled by AXA, a publicly traded insurance
holding company. AXA Financial's indirect wholly-owned subsidiary, Alliance
Capital Management Corporation is the general partner of Alliance Capital
Management L.P. and Alliance Capital Management Holding L.P.
Barclays Global Fund Advisors N.A. is a wholly-owned subsidiary of Barclays
Global Investors, N.A.
Equinox Capital Management, LLC is 100% employee owned, with majority
ownership held by Ron Ulrich.
Jacobs Levy Equity Management, Inc. is owned by Bruce Jacobs and Kenneth
Levy.
Marsico Capital Management, LLC is owned 50% by Marsico Management
Holdings, LLC and 50% by TFM Holdings, LLLP. Marsico Management Holdings is a
wholly owned subsidiary of Bank of America, N.A. which in turn is a wholly owned
subsidiary of Bank of America Corporation. TFM Holdings, LLLP is a Colorado
limited liability limited partnership whose sole general partner is TFM
Managers, Inc. which is wholly-owned by Thomas F. Marsico.
Peachtree Asset Management is a division of SSB Citi Fund Management LLC.
SSB Citi Fund Management LLC is 100% owned by Salomon Smith Barney Holdings,
Inc. which is a wholly owned subsidiary of Citigroup Inc.
Strong Capital Management, Inc. is a corporation controlled by Richard S.
Strong.
Suffolk Capital Management, Inc. is a wholly owned subsidiary of Old Mutual
PLC, a publicly traded corporation.
Turner Investment Partners Inc. is a corporation controlled by Robert E.
Turner.
Westpeak Investment Advisors, L.P. ("Westpeak") is a limited partnership
that is a wholly-owned subsidiary of Nvest Holdings, Inc. ("Nvest Holdings").
Nvest Holdings is a wholly-owned subsidiary of Nvest Companies, L.P. ("Nvest
Companies"). Nvest Companies owns the entire limited partnership interest in
Westpeak. Nvest Companies' general partner, CDCAM North America, LLC is a
wholly-owned subsidiary of CDCAM North America Corporation ("CDCAM NA"). CDCAM
NA is the sole limited partner of Nvest Companies. CDCAM NA is a wholly-owned
subsidiary of CDC Asset Management, a French company ("CDCAM"). CDCAM is
majority-owned by CDC Finance and indirectly owned, through CDC Finance, Caisse
Nationale des Caisses D'Epargne and CNP Assurances, by Caisse des Depots et
Consignations ("CDC"). CDC is wholly-owned by the French Government.
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Real Estate Securities Fund
AEW Management and Advisors, L.P. (formerly, AEW Capital Management, L.P.)
is a limited partnership that is a wholly-owned subsidiary of AEW Capital
Management, L.P., which in turn is a wholly-owned subsidiary of Nvest Holdings,
Inc. ("Nvest Holdings"). Nvest Holdings is a wholly-owned subsidiary of Nvest
Companies, L.P. ("Nvest Companies"). Nvest Companies owns the entire limited
partnership interest in AEW. Nvest Companies' general partner, CDCAM North
America, LLC is a wholly-owned subsidiary of CDCAM North America Corporation
("CDCAM NA"). CDCAM NA is the sole limited partner of Nvest Companies. CDCAM NA
is a wholly-owned subsidiary of CDC Asset Management, a French company
("CDCAM"). CDCAM is majority-owned by CDC Finance and indirectly owned, through
CDC Finance, Caisse Nationale des Caisses D'Epargne and CNP Assurances, by
Caisse des Depots et Consignations ("CDC"). CDC is wholly-owned by the French
Government.
Cohen & Steers Capital Management is a corporation whose two principals,
Robert H. Steers and Martin Cohen, control the corporation within the meaning of
the 1940 Act.
Security Capital Global Capital Management Group Incorporated is an
indirect, wholly-owned subsidiary of Security Capital, a publicly traded
corporation.
