STRATEGIC INVESTMENT MANAGEMENT
13F-HR, 2000-05-16
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               UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
			         WASHINGTON, D.C. 20549

							FORM 13F
                    FORM 13F COVER PAGE
          REPORT FOR THE CALENDAR YEAR OR QUARTER ENDED: 03/31/2000
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatment.
                                  [ ] adds new holdings entries.

Institutional Investment Manager Filing this report:

Name: STRATEGIC INVESTMENT MANAGEMENT
Address: 1001 19th Street, North, 16th Floor
          Arlington, VA 22209-1722

13F File Number: 28-2437

The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form.

Person Signing this report on Behalf of Reporting Manager:

Name: Lourdes Lopez-Isa
Title: General Counsel
Phone #: (703) 243-8800
Signature, Place, and Date of Signing:
Lourdes Lopez-Isa                Arlington, Virginia      05/15/2000

Report Type (Check only one.)
[ ]      13F HOLDING REPORT
[ ]      13F NOTICE
[X]      13F COMBINATION REPORT

List of other Managers Reporting for this manager:
No.   13F File#	          Name
 1                        Alex. Brown Kleinwort Benson Realty Advisors
 2   028-06558            American Express Asset Management
 3   028-06044            CRA Real Estate Securities
 4   028-05582            First Quadrant Corp.
 5   028-03377            Grantham, Mayo, van Otterloo & Co.
 6   028-04099            Loomis, Sayles and Co.
 7   028-02842            Numeric Investors, L.P.
 8   028-00290            The Northern Trust Co.
 9                        Rosenberg Equity Management
10   028-7078             Twin Capital Management
11   028-00408            Brown Brothers
12   028-4372             Westpeak Investment Advisers
13   028-00490            J.P. Morgan
14   028-00620            Mellon Bank, N.A.
15

I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:                    1

FORM 13F Information Table Entry Total:                 2
FORM 13F Information Table Value Total:                             1,144,762.50

List of other Included Managers:
No.    13F File #         Name

  1                       Bee & Associates
<PAGE>
<TABLE>
<S>                           <C>     <C>          <C>                <C>                 <C>   <C>    <C>   <C>    <C>  <C>   <C>
                                        FORM 13F INFORMATION TABLE
                              TITLE                                   SHARES OR              INVESTMENT       MGRS  VOTING AUTHORITY
                              OF                   FAIR MARKET        PRINCIPAL              DISCRETION      SEE        (SHARES)
NAME OF ISSUER                CLASS   CUSIP        VALUE              AMOUNT              SOLE  SHARED OTHER INST.V SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
Orbotech                      COM     M75253100            437,750.00             5,150.00                     0     X
Technomatrix Technologies     COM     M8743P105            707,012.50            16,300.00                     0     X
</TABLE>


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