EX-99

                       EXHIBIT INDEX

EXHIBIT A:
  Attachment to item 77B:
  Accountant's report on internal control.

EXHIBIT B:
  Attachment to item 77D:
  Policies with respect to security investment
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EXHIBIT A:
                 Report of Independent Accountants

To the Board of Trustees and Shareholders
of Schwab Investments:

In planning and performing our audits of the financial statements
of Schwab Short/Intermediate Tax-Free Bond Fund(R), Schwab Long-
Term Tax-Free Bond Fund(R), Schwab California Short/Intermediate
Tax-Free Bond Fund, Schwab Long-Term Tax-Free Bond Fund(R), Schwab
Short-Term Bond Market Fund(R), Schwab Total Bond Market Fund(R) and
Schwab YieldPlus Fund(R)(the "Funds") for the year ended August
31, 2002, we considered their internal control, including control
activities for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinions on
the financial statements and to comply with the requirements of
Form N-SAR, not to provide assurance on internal control.

The management of the Funds are responsible for establishing and
maintaining internal control.  In fulfilling this responsibility,
estimates and judgments by management are required to assess the
expected benefits and related costs of controls.  Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted
accounting principles.  Those controls include the safeguarding
of assets against unauthorized acquisition, use or disposition.

Because of inherent limitations in internal control, errors or
fraud may occur and not be detected.  Also, projection of any
evaluation of internal control to future periods is subject to
the risk that controls may become inadequate because of changes
in conditions or that the effectiveness of their design and
operation may deteriorate.

Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants.  A material weakness is a
condition in which the design or operation of one or more of the
internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions.  However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of August 31, 2002.

This report is intended solely for the information and use of the
Board of Trustees, management and the Securities and Exchange
Commission and is not intended to be and should not be used by
anyone other than these specified parties.

PricewaterhouseCoopers LLP
October 11, 2002




EXHIBIT B:

Item 77 D
Change of investment policy in prospectus.

The Schwab Short-Term Bond Market Fund changed its name from
the Schwab Short-Term Bond Market Index Fund to the Schwab
Short-Term Bond Market Fund.  The fund invests at least 80%
of its assets in debt instruments of varying maturities.
The fund is not required to invest any percentage of its
assets in the securities represented in its benchmark index.
The dollar-weighted average maturity of the fund's portfolio
is not expected to exceed three years.

The Schwab Total Bond Market Fund changed its name from the
Schwab Total Bond Market Index Fund to the Schwab Total Bond
Market Fund.  The fund invests at least 80% of its assets in
debt instruments of varying maturities.  The fund is not
required to invest any percentage of its assets in the
securities represented in its benchmark index.

EX-99.77Q3 CERT

This Exhibit is being filed for All series

SUB-ITEM 77Q3
(a)(i)	Based on their evaluation of the Fund's disclosure
controls and procedures, as of a date within 90 days of the
filing date, the Fund's Chief Executive Officer, Randall W.
Merk and the Fund's chief financial officer, Tai-Chin Tung,
have concluded that the Fund's disclosure controls and
procedures are: (i) reasonably designed to ensure that
information required to be disclosed in this report is
appropriately communicated to the Fund's officers to allow
timely decisions regarding disclosures required in this
report; (ii) reasonably designed to ensure that information
required to be disclosed in this report is recorded,
processed, summarized and reported in a timely manner; and
(iii) are reasonably effective in achieving the goals
described in (i) and (ii) above.

(a)(ii)	There have been no changes in the Fund's internal
controls that the above officers believe to be significant,
or in other factors that the above officers believe could
significantly affect these controls, since the date of the
evaluation referred to above.


                     FORM N-SAR CERTIFICATION

I, Tai-Chin Tung, certify that:

1. I have reviewed this report on Form N-SAR of Schwab Investments;

2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period
covered by this report;

3. Based on my knowledge, the financial information included in this
report, and the financial statements on which the financial information
is based, fairly present in all material respects the financial
condition, results of operations, changes in net assets, and cash flows
(if the financial statements are required to include a statement of
cash flows) of the registrant as of, and for, the periods presented in
this report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in rule 30a-2(c) under the Investment Company Act) for the
registrant and have:

a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of
this report (the "Evaluation Date"); and

c) presented in this report our conclusions about the effectiveness of
the disclosure controls and procedures based on our evaluation as of
the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed,
based on our most recent evaluation, to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons
performing the equivalent functions):

a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to
record, process, summarize and report financial data and have
identified for the registrant's auditors any material weaknesses in
internal controls; and

b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's
internal controls; and

6. The registrant's other certifying officers and I have indicated in
this report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation, including
any corrective actions with regard to significant deficiencies and
material weaknesses.

Date:  10/25/02

/s/Tai-Chin Tung
Chief Financial Officer



                     FORM N-SAR CERTIFICATION

I, Randall W. Merk, certify that:

1. I have reviewed this report on Form N-SAR of Schwab Investments;

2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period
covered by this report;

3. Based on my knowledge, the financial information included in this
report, and the financial statements on which the financial information
is based, fairly present in all material respects the financial
condition, results of operations, changes in net assets, and cash flows
(if the financial statements are required to include a statement of
cash flows) of the registrant as of, and for, the periods presented in
this report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in rule 30a-2(c) under the Investment Company Act) for the
registrant and have:

a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of
this report (the "Evaluation Date"); and

c) presented in this report our conclusions about the effectiveness of
the disclosure controls and procedures based on our evaluation as of
the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed,
based on our most recent evaluation, to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons
performing the equivalent functions):

a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to
record, process, summarize and report financial data and have
identified for the registrant's auditors any material weaknesses in
internal controls; and

b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's
internal controls; and

6. The registrant's other certifying officers and I have indicated in
this report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation, including
any corrective actions with regard to significant deficiencies and
material weaknesses.

Date:  10/25/02

/s/Randall W. Merk
Chief Executive Officer