SAFECO COMMON STOCK TRUST
N-30D/A, 1996-07-10
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Equity Fund Shareholders:

The total return of the SAFECO Equity Fund for the six-month period ended March
31, 1996, was 7.50%. The total return shown on page 58 of the March 31, 1996,
Semiannual Report is incorrect. If you have any questions about this, please
call Shareholder Services at 1-800-624-5711.


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