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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001127563-04-000142.txt : 20040721
<SEC-HEADER>0001127563-04-000142.hdr.sgml : 20040721
<ACCEPTANCE-DATETIME>20040721114716
ACCESSION NUMBER:		0001127563-04-000142
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20040721
EFFECTIVENESS DATE:		20040721

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LOOMIS SAYLES FUNDS II
		CENTRAL INDEX KEY:			0000872649
		IRS NUMBER:				043113285
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-39133
		FILM NUMBER:		04923733

	BUSINESS ADDRESS:	
		STREET 1:		399 BOYLSTON STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		8003997788

	MAIL ADDRESS:	
		STREET 1:		399 BOYLSTON STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LOOMIS SAYLES FUNDS I
		DATE OF NAME CHANGE:	20031119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LOOMIS SAYLES FUNDS
		DATE OF NAME CHANGE:	20031015

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LOOMIS SAYLES FUNDS II
		DATE OF NAME CHANGE:	20030718
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>lsvalue.txt
<DESCRIPTION>497
<TEXT>
                             LOOMIS SAYLES FUNDS II
                      LOOMIS SAYLES VALUE FUND (THE "FUND")

                        Supplement dated July 21, 2004 to
                 Loomis Sayles Funds II Equity Funds Prospectus
        dated February 1, 2004, as may be supplemented from time to time.

Effective  immediately,  Jeffrey  W.  Wardlow no longer  serves as  co-portfolio
manager of the Fund.  Warren  Koontz  and James  Carroll,  continue  to serve as
co-managers of the Fund.

The  following  information  replaces the paragraph on page 38 under the section
titled "Portfolio Managers" relating to the Fund:

LOOMIS SAYLES VALUE FUND Warren Koontz,  Vice  President of Loomis  Sayles,  has
served as portfolio  manager of the Fund since 2000.  Mr.  Koontz  joined Loomis
Sayles in 1995.  James Carroll,  Vice President of Loomis Sayles,  has served as
portfolio  manager of the Fund since 2002.  Mr.  Carroll joined Loomis Sayles in
1996.


                                                                   M-LSSP10-0704

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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