Mutual fund month end holdings Schedule of investments The month end holdings as of the report date is unaudited, and the accuracy and completeness of the information contained herein is not guaranteed. It is made available on an "as is" basis, and Russell does not make any warranty or representation regarding the information. Russell assumes no obligation to update or supplement the Schedule to reflect subsequent changes. Russell reserves the right at anytime and without notice to change, amend or cease publishing the information. In addition to the fund's schedule of investments, a fund may also invest in futures, written options, foreign currency exchange contracts, interest rate swap contracts, index swap contracts and credit default swap contracts. Current and future portfolio holdings are subject to risk. For more information regarding the fund and its holdings, please see the most recent report of the Russell Investment Company Funds. NOTE: Fund objectives, risks, charges and expenses should be carefully considered before investing. For a prospectus containing this and other important information call Russell at 1-866-676-7680 or go to the prospectus and reports page to download one. Please read the prospectus carefully before investing. The following are Excel spreadsheets Fund   May 31, 2009 U.S. equity funds Russell U.S. Core Equity   Holdings Russell U.S. Quantitative Equity   Holdings Russell U.S. Growth   Holdings Russell U.S. Value   Holdings Russell U.S. Small & Mid Cap   Holdings       International & global equity funds Russell International Developed Markets   Holdings Russell Global Equity   Holdings Russell Emerging Markets   Holdings       Fixed income funds Russell Strategic Bond   Holdings Russell Investment Grade Bond   Holdings Russell Short Duration Bond   Holdings Russell Tax Exempt Bond   Holdings       Tax-managed equity funds Russell Tax-Managed U.S. Large Cap   Holdings Russell Tax-Managed U.S. Mid & Small Cap   Holdings Russell Tax-Managed Global Equity   Holdings       Specialty fund Russell Real Estate Securities   Holdings       Money market fund Russell Money Market   Holdings       LifePoints® funds Target Portfolio Series Conservative Strategy   Holdings Moderate Strategy   Holdings Balanced Strategy   Holdings Growth Strategy   Holdings Equity Growth Strategy   Holdings       LifePoints® funds Target Date Series 2010 Strategy   Holdings 2015 Strategy   Holdings 2020 Strategy   Holdings 2025 Strategy   Holdings 2030 Strategy   Holdings 2035 Strategy   Holdings 2040 Strategy   Holdings 2045 Strategy   Holdings 2050 Strategy   Holdings In Retirement   Holdings       LifePoints® funds Target Distribution Strategies 2017 Retirement Distribution - S Shares   Holdings 2017 Retirement Distribution - A Shares   Holdings 2017 Accelerated Distribution - S Shares   Holdings 2017 Accelerated Distribution - A Shares   Holdings 2027 Extended Distribution - S Shares   Holdings 2027 Extended Distribution - A Shares   Holdings An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund. To maintain a certain net yield for class A shares of the Russell Money Market Fund, payments of the 12b-1 distribution fees will be temporarily suspended for the three-month period beginning July 1, 2009. This suspension may be extended for the three-month period beginning October 1, 2009. In addition, if necessary to maintain certain net yields for either class A or class S shares of the Russell Money Market Fund, the fund's advisor may temporarily and voluntarily waive, reduce or reimburse all or any portion of the fund’s transfer agency fee, advisory fee and administrative fee. The fund's advisor may recoup from the fund any portion of such fees waived, reduced or reimbursed pursuant to these arrangements during the previous 36 months. There is no guarantee that the fund will maintain a positive net yield. On September 2, 2008, the following fund name changes occurred: Equity I Fund to Russell U.S. Core Equity Fund, Equity Q Fund to Russell U.S. Quantitative Equity Fund, Equity II Fund to Russell U.S. Small & Mid Cap Fund, Select Growth Fund to Russell U.S. Growth Fund, Select Value Fund to Russell U.S. Value Fund, International Fund to Russell International Developed Markets Fund, Tax-Managed Large Cap Fund to Russell Tax-Managed U.S. Large Cap Fund, Tax-Managed Mid & Small Cap Fund to Russell Tax-Managed U.S. Mid & Small Cap Fund, Fixed Income I Fund to Russell Investment Grade Bond Fund, and Fixed Income III Fund to Russell Strategic Bond Fund. On September 2, 2008, Russell was added to the following fund names: Russell Global Equity Fund, Russell Emerging Markets Fund, Russell Real Estate Securities Fund, Russell Short Duration Bond Fund, Russell Tax-Exempt Bond Fund, Russell Tax-Managed Global Equity Fund, and Russell Money Market Fund. As of March 4, 2008, the Russell Multi-Manager Principal Protected Fund changed it's name to the Russell Flex Equity Fund. RFS-1410. First used: January 2009			Fund documents Fund prospectuses & reports   Fund fact sheets LifePoints funds Russell funds

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