<PAGE>
Exhibit (j)1.2
LIMITED POWER OF ATTORNEY
with respect to
POST-EFFECTIVE AMENDMENT NO. 49 TO THE
SECURITIES AND EXCHANGE COMMISSION
REGISTRATION STATEMENT
of
FRANK RUSSELL INVESTMENT COMPANY
Know by all men these presents that the undersigned hereby constitutes and
appoints the persons holding the offices of President, Treasurer, any Assistant
Treasurer, Secretary or any Assistant Secretary of Frank Russell Investment
Company from time to time, and each of them, his or her attorneys-in-fact, each
with the power of substitution, for him or her in any and all capacities, to
sign Post-Effective Amendment No. 49 to Frank Russell Investment Company's
registration statement, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
or her substitutes, may do or cause to be done by virtue hereof.
/s/ Lynn L. Anderson
-------------------------------------
Lynn L. Anderson
Trustee, Frank Russell Investment
Company
10/30/00
----------------------
Date
<PAGE>
LIMITED POWER OF ATTORNEY
with respect to
POST-EFFECTIVE AMENDMENT NO. 49 TO THE
SECURITIES AND EXCHANGE COMMISSION
REGISTRATION STATEMENT
of
FRANK RUSSELL INVESTMENT COMPANY
Know by all men these presents that the undersigned hereby constitutes and
appoints the persons holding the offices of President, Treasurer, any Assistant
Treasurer, Secretary or any Assistant Secretary of Frank Russell Investment
Company from time to time, and each of them, his or her attorneys-in-fact, each
with the power of substitution, for him or her in any and all capacities, to
sign Post-Effective Amendment No. 49 to Frank Russell Investment Company's
registration statement, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
or her substitutes, may do or cause to be done by virtue hereof.
/s/ Paul E. Anderson
-------------------------------------
Paul E. Anderson
Trustee, Frank Russell Investment
Company
10/26/00
----------------------
Date
<PAGE>
LIMITED POWER OF ATTORNEY
with respect to
POST-EFFECTIVE AMENDMENT NO. 49 TO THE
SECURITIES AND EXCHANGE COMMISSION
REGISTRATION STATEMENT
of
FRANK RUSSELL INVESTMENT COMPANY
Know by all men these presents that the undersigned hereby constitutes and
appoints the persons holding the offices of President, Treasurer, any Assistant
Treasurer, Secretary or any Assistant Secretary of Frank Russell Investment
Company from time to time, and each of them, his or her attorneys-in-fact, each
with the power of substitution, for him or her in any and all capacities, to
sign Post-Effective Amendment No. 49 to Frank Russell Investment Company's
registration statement, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
or her substitutes, may do or cause to be done by virtue hereof.
/s/ Paul Anton, PhD
-------------------------------------
Paul Anton, PhD
Trustee, Frank Russell Investment
Company
10/25/00
---------------------
Date
<PAGE>
LIMITED POWER OF ATTORNEY
with respect to
POST-EFFECTIVE AMENDMENT NO. 49 TO THE
SECURITIES AND EXCHANGE COMMISSION
REGISTRATION STATEMENT
of
FRANK RUSSELL INVESTMENT COMPANY
Know by all men these presents that the undersigned hereby constitutes and
appoints the persons holding the offices of President, Treasurer, any Assistant
Treasurer, Secretary or any Assistant Secretary of Frank Russell Investment
Company from time to time, and each of them, his or her attorneys-in-fact, each
with the power of substitution, for him or her in any and all capacities, to
sign Post-Effective Amendment No. 49 to Frank Russell Investment Company's
registration statement, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
or her substitutes, may do or cause to be done by virtue hereof.
/s/ William E. Baxter
-------------------------------------
William E. Baxter
Trustee, Frank Russell Investment
Company
10/26/00
-------------------
Date
<PAGE>
LIMITED POWER OF ATTORNEY
with respect to
POST-EFFECTIVE AMENDMENT NO. 49 TO THE
SECURITIES AND EXCHANGE COMMISSION
REGISTRATION STATEMENT
of
FRANK RUSSELL INVESTMENT COMPANY
Know by all men these presents that the undersigned hereby constitutes and
appoints the persons holding the offices of President, Treasurer, any Assistant
Treasurer, Secretary or any Assistant Secretary of Frank Russell Investment
Company from time to time, and each of them, his or her attorneys-in-fact, each
with the power of substitution, for him or her in any and all capacities, to
sign Post-Effective Amendment No. 49 to Frank Russell Investment Company's
registration statement, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
or her substitutes, may do or cause to be done by virtue hereof.
/s/ Kristianne Blake
-------------------------------------
Kristianne Blake
Trustee, Frank Russell Investment
Company
10/26/00
--------------------
Date
<PAGE>
LIMITED POWER OF ATTORNEY
with respect to
POST-EFFECTIVE AMENDMENT NO. 49 TO THE
SECURITIES AND EXCHANGE COMMISSION
REGISTRATION STATEMENT
of
FRANK RUSSELL INVESTMENT COMPANY
Know by all men these presents that the undersigned hereby constitutes and
appoints the persons holding the offices of President, Treasurer, any Assistant
Treasurer, Secretary or any Assistant Secretary of Frank Russell Investment
Company from time to time, and each of them, his or her attorneys-in-fact, each
with the power of substitution, for him or her in any and all capacities, to
sign Post-Effective Amendment No. 49 to Frank Russell Investment Company's
registration statement, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
or her substitutes, may do or cause to be done by virtue hereof.
/s/ Lee C. Gingrich
-------------------------------------
Lee C. Gingrich
Trustee, Frank Russell Investment
Company
10/26/00
---------------------
Date
<PAGE>
LIMITED POWER OF ATTORNEY
with respect to
POST-EFFECTIVE AMENDMENT NO. 49 TO THE
SECURITIES AND EXCHANGE COMMISSION
REGISTRATION STATEMENT
of
FRANK RUSSELL INVESTMENT COMPANY
Know by all men these presents that the undersigned hereby constitutes and
appoints the persons holding the offices of President, Treasurer, any Assistant
Treasurer, Secretary or any Assistant Secretary of Frank Russell Investment
Company from time to time, and each of them, his or her attorneys-in-fact, each
with the power of substitution, for him or her in any and all capacities, to
sign Post-Effective Amendment No. 49 to Frank Russell Investment Company's
registration statement, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
or her substitutes, may do or cause to be done by virtue hereof.
/s/ Eleanor W. Palmer
-------------------------------------
Eleanor W. Palmer
Trustee, Frank Russell Investment
Company
10/25/00
------------------
Date
<PAGE>
LIMITED POWER OF ATTORNEY
with respect to
POST-EFFECTIVE AMENDMENT NO. 49 TO THE
SECURITIES AND EXCHANGE COMMISSION
REGISTRATION STATEMENT
of
FRANK RUSSELL INVESTMENT COMPANY
Know by all men these presents that the undersigned hereby constitutes and
appoints the persons holding the offices of President, Treasurer, any Assistant
Treasurer, Secretary or any Assistant Secretary of Frank Russell Investment
Company from time to time, and each of them, his or her attorneys-in-fact, each
with the power of substitution, for him or her in any and all capacities, to
sign Post-Effective Amendment No. 49 to Frank Russell Investment Company's
registration statement, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
or her substitutes, may do or cause to be done by virtue hereof.
/s/ Raymond P. Tennison, Jr.
-------------------------------------
Raymond P. Tennison, Jr.
Trustee, Frank Russell Investment
Company
10/28/00
-------------------
Date
