SAFECO MANAGED BOND TRUST
SAFECO MONEY MARKET TRUST
SAFECO TAXABLE BOND TRUST
SAFECO TAX-EXEMPT BOND TRUST
SUPPLEMENT TO THE PROSPECTUS DATED MAY 1, 2000
SUPPLEMENT DATED JULY 1, 2000
In general, when you buy additional shares in an existing account, you must
invest at least $100 per Fund. For investments made in IRA accounts using the
Automatic Investment Method (AIM), SAFECO has lowered the minimum investment
amount to $50 per Fund. AIM allows you to make regular monthly investments by
authorizing SAFECO to withdraw a specific amount from your bank account and
invest it in the Fund of your choice. The minimum investment amount for
investments made in IRA accounts other than through AIM will remain at $100 per
Fund.
The following information replaces the second bullet point following the
subheading "If you are buying additional shares" on page 68 of the No-Load Class
Prospectus:
o The minimum investment amount per Fund is $100 ($50 for
investments in IRA accounts made through the Automatic Investment
Method).* For more information, call (800) 624-5711.
* * * * *
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SAFECO COMMON STOCK TRUST
SAFECO MANAGED BOND TRUST
SAFECO MONEY MARKET TRUST
SAFECO TAXABLE BOND TRUST
SAFECO TAX-EXEMPT BOND TRUST
SUPPLEMENT TO THE PROSPECTUS DATED MAY 1, 2000
SUPPLEMENT DATED JULY 1, 2000
In general, when you buy additional shares in an existing account, you must
invest at least $100 per Fund. For investments made in IRA accounts using the
Automatic Investment Method (AIM), SAFECO has lowered the minimum investment
amount to $50 per Fund. AIM allows you to make regular monthly investments by
authorizing SAFECO to withdraw a specific amount from your bank account and
invest it in the Fund of your choice. The minimum investment amount for
investments made in IRA accounts other than through AIM will remain at $100 per
Fund.
The following information replaces item 2 following the subheading "If you are
buying additional shares" on page 111 of the Advisor Class A, Advisor Class B
and Advisor Class C Prospectus:
o The minimum investment amount per Fund is $100 ($50 for
investments in IRA accounts made through the Automatic Investment
Method).* For more information, call 1-800 528-6501
* * * * *
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