RUSSELL FRANK INVESTMENT MANAGEMENT CO
13F-NT, 1999-08-11
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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:                 June 30, 1999
                                                           ---------------------

Check here if Amendment [ ]; Amendment Number:
                                                           ---------------------

          This Amendment (Check only one.):       [ ] is a restatement.
                                                  [ ] adds new holdings entries

Institutional Investment Manager Filing this Report:

Name:     Frank Russell Investment Management Company
          ----------------------------------------------------------------------

Address:  909 A Street
          Tacoma, WA 98402
          ----------------------------------------------------------------------


Form 13F File Number:                        028-02762
                                        --------------------

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:     Mark E. Swanson
          ----------------------------------------------------------------------

Title:    Manager, Fund Administration
          ----------------------------------------------------------------------

Phone:    (253) 596-2493
          ----------------------------------------------------------------------



/s/ Mark Swanson                          Tacoma, WA            July 30, 1999
- ----------------------------------    ------------------    --------------------
[Signature]                              [City, State]             [Date]

Report Type (Check only one.):

[ ]  13F HOLDINGS REPORT.


[X]  13F NOTICE.


[ ]  13F COMBINATION REPORT.


List of Other Managers Reporting for this Manager:

          Form 13F File Number                        Name
          ------------------------------    ------------------------

          028-01190                           Frank Russell Company



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