WADDELL & REED INVESTMENT MANAGEMENT CO
13F-NT, 2000-11-13
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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:  September 30, 2000

Check here if Amendment [  ]; Amendment No. ____
        This Amendment (check one only):[  ] is a restatement.
                                        [  ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:           Waddell & Reed Investment Management Company
Address:        6300 Lamar Avenue
                Overland Park, KS  66202

Form 13F File Number:    28-4466

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.

Persons Signing this Report on Behalf of Reporting Manager:

Name:           Daniel C. Schulte
Title:          Secretary
Phone:          (913) 236-2012


Signature, Place and Date of Signing:

/s/  Daniel C. Schulte          Overland Park, Kansas        November 13, 2000

Report Type (check only one):

[ ]    13F HOLDINGS. (Check here if all holdings of this reporting manager are
        reported in this report.)
[X]    13F NOTICE.  (Check here if no holdings reported are in this report,
        and all holdings are reported by other reporting manager(s).)
[ ]    13F COMBINATION REPORT. (Check here if a portion of the holdings for
        this reporting manager are reported in this report and a portion are
        reported by other reporting manager(s).)

List of Other Managers Reporting for this Manager:

        Form 13F File Number            Name
        --------------------            -------
             28-7592                    Waddell & Reed Financial, Inc.


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