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SAFECO COMMON STOCK TRUST
SUPPLEMENT TO THE ADVISOR CLASS PROSPECTUS DATED APRIL 30, 1997
SUPPLEMENT DATED AUGUST 11, 1997
THE FOLLOWING INFORMATION REPLACES THE PARAGRAPH FOLLOWING THE SUBHEADING
"BALANCED FUND" ON PAGE 52:
The equity portion of the Balanced Fund is co-managed by Rex L. Bentley,
Vice President, SAM, and Lynette D. Sagvold, Assistant Vice President,
SAM, and the fixed-income portion is managed by Michael Hughes,
Assistant Vice President, SAM. Mr. Bentley was Vice President and
investment counsel at the investment advisory firm of Badgley, Phelps
and Bell Investment Counsel, Inc., from 1990 to 1995. Ms. Sagvold was a
portfolio manager and analyst for First Interstate Bank from 1993 to
1995, and she was a portfolio manager and analyst for Key Trust Company
from 1985 to 1993. Mr. Hughes was Vice President and a portfolio manager
for First Interstate Capital Management Company from 1995 to 1996, and
Vice President and portfolio manager for First Interstate Bank of
California from 1988 to 1995.
