<PAGE>
[LOGO] SAFECO -Registered Trademark-
CORPORATION
SAFECO Plaza
Seattle, WA 98185-0001 Phone: (206) 545-5000
May 4, 1999
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549
Re: SAFECO Taxable Bond Trust
1933 Act File Number - 33-22132
1940 Act File Number - 811-5574
Ladies and Gentlemen:
Pursuant to paragraph (j) of Rule 497 of Regulation C under the Securities Act
of 1933, as amended, in lieu of filing under paragraph (c) of Rule 497, I hereby
certify that each of (i) the form of the No-Load Class prospectus and Statement
of Additional Information each dated April 30, 1999, and (ii) the form of the
Advisor Class A and Advisor Class B prospectus and Statement of Additional
Information each dated April 30, 1999, for the Registrant that would have been
filed under paragraph (c) of this section do not differ from that contained in
the most recent amendment to the registration statement. I further certify that
the most recent registration statement was filed electronically on April 30,
1999, and became effective April 30, 1999.
If you have any comments or questions concerning the filing, please call me at
(206) 545-6145.
Sincerely,
/s/ Lizbeth A. Englund
- ----------------------
Lizbeth A. Englund
Counsel
