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LIFEPOINTS-REGISTERED TRADEMARK- FUNDS
LIFEPOINTS TAX-MANAGED FUNDS
FRANK RUSSELL INVESTMENT COMPANY
SUPPLEMENT DATED JANUARY 12, 2000 TO
STATEMENT OF ADDITIONAL INFORMATION
DATED NOVEMBER 30, 1999
The first page of the LifePoints Funds and Tax-Managed LifePoints Funds
Statement of Additional Information of the Frank Russell Investment Company (the
"Company") dated November 30, 1999 is restated in its entirety as follows to
reflect the correct name of the Tax-Managed Global Equity Fund.
Frank Russell Investment Company ("FRIC") is a single legal entity
organized as a Massachusetts business trust. FRIC operates investment portfolios
referred to as "Funds." FRIC offers shares of beneficial interest in the Funds
in multiple separate prospectuses.
This Statement is not a Prospectus; the Statement should be read in
conjunction with the LifePoints Funds' and the LifePoints Tax-Managed Funds'
Prospectuses, which may be obtained without charge by telephoning or writing
FRIC at the number or address shown above.
Capitalized terms not otherwise defined in this Statement shall have the
meanings assigned to them in the Prospectuses.
This Statement incorporates by reference the LifePoints Funds Annual Report
to Shareholders for the year ended December 31, 1998 and the LifePoints Funds
Semi-Annual Report to Shareholders for the period ended June 30, 1999. Copies of
the LifePoints Funds' Annual Report and Semi-Annual Report accompany this
Statement. The LifePoints Tax-Managed Funds did not commence operations prior to
the date of this Statement of Additional Information and therefore have not yet
issued an Annual Report to shareholders.
This Statement of Additional Information ("Statement" or "SAI") describes
the Class C, Class D, Class E and Class S Shares of the LifePoints Funds and the
Class C and Class S Shares of the LifePoints Tax-Managed Funds listed below (the
"Fund of Funds"), each of which invests in different combinations of other Funds
(the "Underlying Funds") which invests in different combinations of stocks,
bonds and cash equivalents.
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<CAPTION>
FUND INCEPTION DATE PROSPECTUS DATE
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LifePoints Funds
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<S> <C> <C>
Equity Aggressive Strategy Fund* September 30, 1997 November 30, 1999
Aggressive Strategy Fund September 16, 1997 November 30, 1999
Balanced Strategy Fund September 16, 1997 November 30, 1999
Moderate Strategy Fund October 2, 1997 November 30, 1999
Conservative Strategy Fund November 7, 1997 November 30, 1999
LifePoints Tax-Managed Funds
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Tax-Managed Global Equity Fund To be Determined November 30, 1999
Tax-Managed Aggressive Strategy Fund To be Determined November 30, 1999
Tax-Managed Moderate Strategy Fund To be Determined November 30, 1999
Tax-Managed Conservative Strategy Fund To be Determined November 30, 1999
</TABLE>
* Prior to May 1, 1999, this Fund was known as Equity Balanced Strategy Fund.
