SAFECO TAX-EXEMPT BOND TRUST
SUPPLEMENT TO THE NO-LOAD CLASS PROSPECTUS
DATED APRIL 30, 1999
SUPPLEMENT DATED JANUARY 20, 2000
The following information supplements disclosure as to the SAFECO Washington
State Municipal Bond Fund on pages 29-33 and 61 of the No-Load Class Prospectus:
The SAFECO Washington State Municipal Bond Fund (the "Fund") will cease
operations and be liquidated on or about March 31, 2000. In
anticipation of such liquidation, shares of the Fund are no longer
being offered for sale and investors may no longer purchase shares of
the Fund, other than purchases through reinvested dividends and other
distributions.
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SAFECO TAX-EXEMPT BOND TRUST
SUPPLEMENT TO THE ADVISOR CLASS PROSPECTUS
DATED APRIL 30, 1999
SUPPLEMENT DATED JANUARY 20, 2000
The following information supplements disclosure as to the SAFECO Washington
State Municipal Bond Fund on pages 53-56 and 91-92 of the Advisor Class
Prospectus:
The SAFECO Washington State Municipal Bond Fund (the "Fund") will cease
operations and be liquidated on or about March 31, 2000. In
anticipation of such liquidation, shares of the Fund are no longer
being offered for sale and investors may no longer purchase shares of
the Fund, other than purchases through reinvested dividends and other
distributions.
