<Page>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act File Number 811-10371
Lord Abbett Blend Trust
-----------------------
(Exact name of registrant as specified in charter)
90 Hudson Street, Jersey City, NJ 07302
---------------------------------------
(Address of principal executive offices) (zip code)
Christina T. Simmons, Vice President & Assistant Secretary
90 Hudson Street, Jersey City, NJ 07302
---------------------------------------
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 201-6984
--------------
Date of fiscal year end: 7/31
Date of reporting period: 01/31/04
<Page>
ITEM 1: Report to Shareholders.
<Page>
[LORD ABBETT LOGO]
2004
SEMI-
ANNUAL
REPORT
LORD ABBETT
SMALL-CAP BLEND FUND
FOR THE SIX-MONTH PERIOD ENDED JANUARY 31, 2004
<Page>
- --------------------------------------------------------------------------------
LORD ABBETT SMALL-CAP BLEND FUND
SEMI-ANNUAL REPORT
FOR THE SIX-MONTH PERIOD ENDED JANUARY 31, 2004
DEAR SHAREHOLDER: We are pleased to provide you with this overview of the Lord
Abbett Small-Cap Blend Fund's (the Fund) strategies and performance for the
six-month period ended January 31, 2004. On this and the following pages, we
discuss the major factors that influenced performance.
Thank you for investing in Lord Abbett Mutual Funds. We value the trust
that you place in us and look forward to serving your investment needs in the
years to come.
BEST REGARDS,
/s/ Robert S. Dow
ROBERT S. DOW
CHAIRMAN
- --------------------------------------------------------------------------------
Q: WHAT WERE THE OVERALL MARKET CONDITIONS OF THE REPORTING PERIOD?
A: The U.S. economy continued to show signs of improvement during the third
quarter of 2003, as domestic growth prospects and corporate profits improved.
Further evidence of an economic recovery sparked the equity markets, adding to
the market gains experienced in the second quarter. And while major indices
advanced in the first part of the period, concerns over the viability of future
growth grew as the summer ended.
As the economy entered the final months of 2003, gross domestic product
(GDP) numbers showed that the U.S. economy expanded by an impressive 8.2%
annualized rate in the third quarter-well ahead of expectations and up from 3.3%
annualized growth in the second quarter. In addition, productivity data, an
important gauge for inflation, has remained strong and can be an important
signal that interest rates may remain low in the near term. October's employment
report showed an increase of 126,000 jobs, ahead of estimates, but more recent
employment data has raised lingering questions about a possible jobless
recovery. And while the unemployment rate dropped to 5.6% in January, further
data has shown lower-than-expected job creation in December and January,
disappointing some. Historically, however, it is not uncommon for employment
statistics to improve more slowly than other economic indicators.
GDP grew at a 4% annual pace in the fourth quarter, and although this was
slightly below expectations, the data continued to reinforce the view of an
improving economy. Furthermore, in the face of a continued rising equity market,
debates over the direction of interest rates intensified towards the end of the
period, as the Federal Reserve slightly changed its
1
<Page>
stance that interest rates will remain low at 1% for a "considerable" amount of
time.
Q: HOW DID THE FUND PERFORM OVER THE SIX-MONTH PERIOD ENDED JANUARY 31, 2004?
A: For the six-month period ended January 31, 2004, the Fund returned 24.9%,
reflecting performance at the Net Asset Value (NAV) of Class A shares with all
distributions reinvested, outperforming the Russell 2000(R) Index(1) which
returned 22.7% over the same period. Standardized Average Annual Total Returns,
which reflect performance at the maximum 5.75% sales charge applicable to Class
A share investments and include the reinvestment of all distributions are:
1 year: 50.43% and Since Inception (06/26/01): 12.91%.
Q: WHAT WERE THE MOST SIGNIFICANT FACTORS AFFECTING PERFORMANCE?
A: Stock selection within the healthcare sector was the largest benefit to the
Fund's performance during the period. Specifically, the value of certain
holdings in the biotechnology category increased, as investors rectified overly
negative reactions to the company's prospects. Stock selection within the
technology sector also added to the Fund's performance, as certain Fund holdings
in the internet software category appreciated from strong top-line growth from
increasing sales of next generation products. In addition, stock selection
within the producer durables sector helped the Fund's relative return, as
certain semiconductor stocks enjoyed strong operating results.
Stock selection within the materials and processing sector was the largest
detractor from relative performance during the period, as lower gross margins
hurt select holdings within the chemical manufacturing category. Stock selection
within the financial services sector also hurt the Fund's relative performance,
as certain smaller insurance companies declined. In addition, stock selection
within the energy sector detracted from Fund performance, as specific drilling
companies declined.
The Fund is actively managed and, as a result, asset allocations may
change. Sectors may include many industries.
(1) The Russell 2000(R) Index measures the performance of the 2,000 smallest
companies in the Russell 3000(R) Index and represents approximately 8% of the
total market capitalization of the Russell 3000(R) Index. Indices are unmanaged,
do not reflect the deduction of fees or expenses and are not available for
direct investment.
2
<Page>
IMPORTANT PERFORMANCE AND OTHER INFORMATION
The views of the Fund's management and the portfolio holdings described in this
report are as of January 31, 2004; these views and portfolio holdings may have
changed subsequent to this date and they do not guarantee the future performance
of the markets or the Fund. Information provided in this report should not be
considered a recommendation to purchase or sell securities.
A NOTE ABOUT RISK: See Notes to Financial Statements for a discussion of
investment risks. For a more detailed discussion of the risks associated with
the Fund, please see the Fund's Prospectus.
PERFORMANCE: PERFORMANCE DATA QUOTED IS HISTORICAL. PAST PERFORMANCE IS NO
GUARANTEE OF FUTURE RESULTS. CURRENT PERFORMANCE MAY BE HIGHER OR LOWER THAN THE
PERFORMANCE DATA QUOTED. BECAUSE OF ONGOING MARKET VOLATILITY, FUND PERFORMANCE
MAY BE SUBJECT TO SUBSTANTIAL FLUCTUATION. The investment return and principal
value of an investment in the Fund will fluctuate so that shares, on any given
day or when redeemed, may be worth more or less than their original cost. Except
where noted, comparative fund performance does not account for the deduction of
sales charges and would be different if sales charges were included. The Fund
offers additional classes of shares with distinct pricing options. For a full
description of the differences in pricing alternatives, please see the Fund's
Prospectus.
YOU CAN OBTAIN PERFORMANCE DATA CURRENT TO THE MOST RECENT MONTH END (AVAILABLE
WITHIN SEVEN BUSINESS DAYS OF THE MOST RECENT MONTH END) BY CALLING LORD ABBETT
AT 800-821-5129 OR REFERRING TO OUR WEBSITE AT www.LordAbbett.com. THE
PROSPECTUS CONTAINS IMPORTANT INFORMATION ABOUT THE FUND, INCLUDING THE FUND'S
INVESTMENT OBJECTIVES, RISKS, CHARGES AND ONGOING EXPENSES THAT YOU SHOULD
CAREFULLY CONSIDER BEFORE INVESTING. TO OBTAIN A PROSPECTUS ON THIS FUND OR ANY
LORD ABBETT MUTUAL FUND, PLEASE CONTACT YOUR INVESTMENT PROFESSIONAL OR LORD
ABBETT DISTRIBUTOR LLC AT 800-874-3733 OR VISIT www.LordAbbett.com. READ THE
PROSPECTUS CAREFULLY BEFORE INVESTING.
MUTUAL FUNDS ARE NOT INSURED BY THE FDIC, ARE NOT DEPOSITS OR OTHER OBLIGATIONS
OF, OR GUARANTEED BY BANKS, AND ARE SUBJECT TO INVESTMENT RISKS INCLUDING
POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED.
3
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)
JANUARY 31, 2004
<Table>
<Caption>
VALUE
INVESTMENTS SHARES (000)
- ------------------------------------------------------------------------------------------------
COMMON STOCKS 96.07%
AUTO COMPONENTS 2.44%
Wabash National Corp.* 185,150 $ 5,093
---------------
BANKS 1.21%
Hanmi Financial Corp. 121,351 2,525
---------------
BIOTECHNOLOGY RESEARCH &
PRODUCTION 3.08%
Antigenics, Inc.* 97,800 1,071
Arthrocare Corp.* 39,723 972
Cell Therapeutics, Inc.* 110,684 1,075
Kensey Nash Corp.* 123,110 3,305
---------------
TOTAL 6,423
---------------
BUILDING: MATERIALS 1.67%
Watsco, Inc. 151,600 3,493
---------------
BUILDING: ROOFING & WALLBOARD 2.42%
Elk Corp. 175,700 5,043
---------------
CHEMICALS 1.04%
Penford Corp. 157,908 2,171
---------------
COMMUNICATIONS & MEDIA 3.00%
Entravision
Communications Corp.* 114,200 1,196
Lamar Advertising Co.* 131,700 5,068
---------------
TOTAL 6,264
---------------
COMPUTER SERVICES SOFTWARE &
SYSTEMS 3.39%
Interland, Inc.* 160,997 699
Keynote Systems, Inc.* 70,951 857
Websense, Inc.* 167,400 5,507
---------------
TOTAL 7,063
---------------
COMPUTER TECHNOLOGY 3.47%
Analogic Corp. 61,097 $ 2,609
Western Digital Corp.* 452,400 4,628
---------------
TOTAL 7,237
---------------
CONSTRUCTION 3.64%
Centex Corp. 34,800 3,685
Modtech Holdings, Inc.* 416,753 3,901
---------------
TOTAL 7,586
---------------
CONSUMER ELECTRONICS 5.89%
LoJack Corp.* 308,107 2,462
Take-Two Interactive
Software, Inc.* 194,600 5,643
Universal
Electronics, Inc.* 322,730 4,170
---------------
TOTAL 12,275
---------------
DIVERSIFIED FINANCIAL SERVICES 2.02%
USI Holdings Corp.* 298,339 4,221
---------------
DRUG & GROCERY STORE CHAINS 1.61%
Winn-Dixie Stores, Inc. 512,700 3,363
---------------
DRUGS & PHARMACEUTICALS 1.49%
Eyetech
Pharmaceuticals, Inc.* 6,200 130
Noven
Pharmaceuticals, Inc.* 75,460 1,533
Praecis
Pharmaceuticals, Inc.* 217,600 1,443
---------------
TOTAL 3,106
---------------
ELECTRONICS 1.53%
BEI Technologies, Inc. 151,719 3,194
---------------
FOODS 2.14%
J & J Snack
Foods Corp.* 105,467 4,458
---------------
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
4
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONTINUED)
JANUARY 31, 2004
<Table>
<Caption>
VALUE
INVESTMENTS SHARES (000)
- ------------------------------------------------------------------------------------------------
HEALTH & PERSONAL CARE 3.05%
Healthcare Service
Group, Inc. 109,688 $ 2,188
Province Healthcare Co.* 229,250 4,172
---------------
TOTAL 6,360
---------------
HEALTHCARE MANAGEMENT SERVICES 1.76%
Computer Programs &
Systems, Inc. 66,943 1,433
Molina Healthcare, Inc.* 86,700 2,233
---------------
TOTAL 3,666
---------------
HOMEBUILDING 2.30%
Ryland Group, Inc. 62,900 4,796
---------------
HOTEL/MOTEL 2.26%
La Quinta Corp.* 626,300 4,716
---------------
INSURANCE: MULTI-LINE 5.80%
HealthExtras, Inc.* 75,332 777
Hilb, Rogal &
Hamilton Co. 230,100 7,356
UICI* 311,800 3,960
---------------
TOTAL 12,093
---------------
INSURANCE: PROPERTY-CASUALTY 5.61%
HCC Insurance
Holdings, Inc. 158,600 4,885
Ohio Casualty Corp.* 382,000 6,819
---------------
TOTAL 11,704
---------------
MACHINERY: INDUSTRIAL/SPECIALTY 1.23%
Actuant Corp. Class A* 70,300 2,555
---------------
MACHINERY: OIL WELL EQUIPMENT &
SERVICES 7.01%
Grey Wolf, Inc.* 1,226,200 5,126
Key Energy
Services, Inc.* 409,300 $ 4,576
Pride Int'l., Inc.* 260,600 4,912
---------------
TOTAL 14,614
---------------
MACHINERY: SPECIALTY 1.89%
Helix Technology Corp. 164,300 3,945
---------------
MEDICAL & DENTAL INSTRUMENTS &
SUPPLIES 10.54%
Bio-Rad
Laboratories, Inc.* 56,300 3,043
Enzon
Pharmaceuticals, Inc.* 254,800 3,414
ICU Medical, Inc.* 73,619 2,775
Immucor, Inc.* 46,350 1,002
Merit Medical
Systems, Inc.* 58,670 1,290
Molecular Devices Corp.* 78,900 1,646
Orthologic Corp.* 252,772 1,924
Surmodics, Inc.* 138,700 2,881
Theragenics Corp.* 656,700 3,999
---------------
TOTAL 21,974
---------------
MEDICAL SERVICES 2.01%
Option Care, Inc.* 320,077 4,187
---------------
RADIO & TV BROADCASTERS 2.45%
Regent
Communications, Inc.* 728,490 5,099
---------------
RESTAURANTS 2.03%
Lone Star Steakhouse &
Saloon 164,181 4,238
---------------
RETAIL 0.48%
Dave & Buster's, Inc.* 80,500 1,004
---------------
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
5
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONCLUDED)
JANUARY 31, 2004
<Table>
<Caption>
VALUE
INVESTMENTS SHARES (000)
- ------------------------------------------------------------------------------------------------
SAVINGS & LOAN 1.31%
Brookline Bancorp, Inc. 172,165 $ 2,734
---------------
SERVICES: COMMERCIAL 5.17%
Clean Harbors, Inc.* 130,500 994
First Consulting
Group, Inc.* 619,460 4,008
SM&A* 519,544 5,772
---------------
TOTAL 10,774
---------------
TRANSPORTATION MISCELLANEOUS 0.66%
Vitran Corp., Inc.*(a) 91,400 1,382
---------------
TRUCKERS 0.47%
Central Freight
Lines, Inc.* 55,600 974
---------------
TOTAL COMMON STOCKS
(Cost $167,715,174) $ 200,330
===============
<Caption>
PRINCIPAL
AMOUNT VALUE
(000) (000)
- ------------------------------------------------------------------------------------------------
SHORT-TERM INVESTMENT 4.69%
REPURCHASE AGREEMENT 4.69%
Repurchase Agreement
dated 1/30/2004
..96% due 2/2/2004 with
State Street Bank &
Trust Co. collateralized by
$6,935,000 of United
States Treasury Bonds at
3.625% due 4/15/2028;
value: $9,977,731;
proceeds: $9,781,353
(Cost $9,780,571) $ 9,781 $ 9,781
===============
TOTAL INVESTMENTS
100.76% (Cost $177,495,745) $ 210,111
===============
</Table>
* Non-income producing security.
(a) Foreign security traded in U.S. dollars.
SEE NOTES TO FINANCIAL STATEMENTS.
6
<Page>
STATEMENT OF ASSETS AND LIABILITIES (UNAUDITED)
January 31, 2004
<Table>
ASSETS:
Investment in securities, at value (cost $177,495,745) $ 210,111,079
Cash 523,897
Receivables:
Interest and dividends 121,249
Investment securities sold 919,025
Capital shares sold 2,157,915
Prepaid expenses and other assets 31,903
- -------------------------------------------------------------------------------------------------------
TOTAL ASSETS 213,865,068
- -------------------------------------------------------------------------------------------------------
LIABILITIES:
Payables:
Investment securities purchased 4,669,558
Capital shares reacquired 340,503
Management fee 137,690
12b-1 distribution fees 120,795
Fund administration 11,362
Accrued expenses and other liabilities 54,444
- -------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES 5,334,352
=======================================================================================================
NET ASSETS $ 208,530,716
=======================================================================================================
COMPOSITION OF NET ASSETS:
Paid-in capital $ 167,204,806
Distributions in excess of net investment income (2,294,355)
Accumulated net realized gain on investments 11,004,931
Net unrealized appreciation on investments 32,615,334
- -------------------------------------------------------------------------------------------------------
NET ASSETS $ 208,530,716
=======================================================================================================
NET ASSETS BY CLASS:
Class A Shares $ 120,403,833
Class B Shares $ 37,246,394
Class C Shares $ 45,604,767
Class P Shares $ 1,642.45
Class Y Shares $ 5,274,080
OUTSTANDING SHARES BY CLASS:
Class A Shares 8,384,601
Class B Shares 2,625,332
Class C Shares 3,216,593
Class P Shares 113.92
Class Y Shares 365,853
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE
(NET ASSETS DIVIDED BY OUTSTANDING SHARES):
Class A Shares-Net asset value $ 14.36
Class A Shares-Maximum offering price
(Net asset value plus sales charge of 5.75%) $ 15.24
Class B Shares-Net asset value $ 14.19
Class C Shares-Net asset value $ 14.18
Class P Shares-Net asset value $ 14.42
Class Y Shares-Net asset value $ 14.42
=======================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
7
<Page>
STATEMENT OF OPERATIONS (UNAUDITED)
For the Six Months Ended January 31, 2004
<Table>
INVESTMENT INCOME:
Dividends $ 292,407
Interest 39,120
- -------------------------------------------------------------------------------------------------------
TOTAL INVESTMENT INCOME 331,527
- -------------------------------------------------------------------------------------------------------
EXPENSES:
Management fee 572,844
12b-1 distribution plan-Class A 163,165
12b-1 distribution plan-Class B 146,253
12b-1 distribution plan-Class C 167,583
12b-1 distribution plan-Class P 4
Shareholder servicing 136,054
Professional 22,503
Reports to shareholders 28,477
Fund administration 30,552
Custody 8,526
Directors fees 256
Registration 28,153
Other 2,169
- -------------------------------------------------------------------------------------------------------
Gross expenses 1,306,539
Expense reductions (663)
- -------------------------------------------------------------------------------------------------------
NET EXPENSES 1,305,876
- -------------------------------------------------------------------------------------------------------
NET INVESTMENT LOSS (974,349)
- -------------------------------------------------------------------------------------------------------
REALIZED AND UNREALIZED GAIN:
Net realized gain on investments 13,060,888
Net change in unrealized appreciation/depreciation on investments 20,665,900
=======================================================================================================
NET REALIZED AND UNREALIZED GAIN 33,726,788
=======================================================================================================
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 32,752,439
=======================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
8
<Page>
STATEMENTS OF CHANGES IN NET ASSETS
<Table>
<Caption>
FOR THE SIX MONTHS
ENDED JANUARY 31, 2004 FOR THE YEAR ENDED
INCREASE IN NET ASSETS (UNAUDITED) JULY 31, 2003
OPERATIONS:
Net investment loss $ (974,349) $ (1,057,157)
Net realized gain on investments 13,060,888 9,303
Net change in unrealized appreciation/depreciation on investments 20,665,900 21,299,623
- --------------------------------------------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS 32,752,439 20,251,769
====================================================================================================================
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Net investment income
Class A (879,343) -
Class B (174,117) -
Class C (225,266) -
Class P (12) -
Class Y (40,983) -
Net realized gain
Class A (828,770) -
Class B (276,174) -
Class C (322,891) -
Class P (13) -
Class Y (32,093) -
- --------------------------------------------------------------------------------------------------------------------
TOTAL DISTRIBUTIONS TO SHAREHOLDERS (2,779,662) -
====================================================================================================================
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sales of shares 82,911,931 47,365,241
Reinvestment of distributions 2,267,594 -
Cost of shares reacquired (10,897,349) (15,750,280)
- --------------------------------------------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS
RESULTING FROM CAPITAL SHARE TRANSACTIONS 74,282,176 31,614,961
====================================================================================================================
NET INCREASE IN NET ASSETS 104,254,953 51,866,730
====================================================================================================================
NET ASSETS:
Beginning of period 104,275,763 52,409,033
- --------------------------------------------------------------------------------------------------------------------
END OF PERIOD $ 208,530,716 $ 104,275,763
====================================================================================================================
DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME $ (2,294,355) $ (285)
====================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
9
<Page>
FINANCIAL HIGHLIGHTS
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
(UNAUDITED) 2003 2002 7/31/2001
PER SHARE OPERATING PERFORMANCE (CLASS A SHARES)
NET ASSET VALUE, BEGINNING OF PERIOD $ 11.71 $ 9.18 $ 10.45 $ 10.00
========== ========= ========= ============
Unrealized appreciation on investments .06
------------
NET ASSET VALUE ON SEC EFFECTIVE DATE $ 10.06
============
Investment operations
Net investment loss(a) (.07) (.12) (.12) (.07)
Net realized and unrealized gain (loss) 2.97 2.65 (1.15) .46
---------- --------- --------- ------------
Total from investment operations 2.90 2.53 (1.27) .39
---------- --------- --------- ------------
Distributions to shareholders from:
Net investment income (.13) - - -
Net realized gain (.12) - -(g) -
---------- --------- --------- ------------
Total distributions (.25) - - -
---------- --------- --------- ------------
NET ASSET VALUE, END OF PERIOD $ 14.36 $ 11.71 $ 9.18 $ 10.45
========== ========= ========= ============
Total Return(b)(e) .60%(c)
Total Return(b) 24.87%(c) 27.56% (12.11)% 3.88%(c)(f)
RATIOS TO AVERAGE NET ASSETS
Expenses, including waiver and expense reductions .74%(c) 1.71% 1.66% .69%(c)
Expenses, excluding waiver and expense reductions .74%(c) 1.89% 2.41% .81%(c)
Net investment loss (.52)%(c) (1.30)% (1.09)% (.67)%(c)
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 7/31/2001
- ----------------------------------------------------------------------------------------------------------------
Net assets, end of period (000) $ 120,404 $ 59,717 $ 29,962 $ 2,214
Portfolio turnover rate 31.96% 68.48% 47.69% 5.86%
================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
10
<Page>
FINANCIAL HIGHLIGHTS (CONTINUED)
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
(UNAUDITED) 2003 2002 7/31/2001
PER SHARE OPERATING PERFORMANCE (CLASS B SHARES)
NET ASSET VALUE, BEGINNING OF PERIOD $ 11.56 $ 9.12 $ 10.45 $ 10.00
========== ========= ========= ============
Unrealized appreciation on investments .06
------------
NET ASSET VALUE ON SEC EFFECTIVE DATE $ 10.06
============
Investment operations
Net investment loss(a) (.11) (.18) (.18) (.07)
Net realized and unrealized gain (loss) 2.93 2.62 (1.15) .46
---------- --------- --------- ------------
Total from investment operations 2.82 2.44 (1.33) .39
---------- --------- --------- ------------
Distributions to shareholders from:
Net investment income (.07) - - -
Net realized gain (.12) - -(g) -
---------- --------- --------- ------------
Total distributions (.19) - - -
---------- --------- --------- ------------
NET ASSET VALUE, END OF PERIOD $ 14.19 $ 11.56 $ 9.12 $ 10.45
========== ========= ========= ============
Total Return(b)(e) .60%(c)
Total Return(b) 24.54%(c) 26.75% (12.68)% 3.88%(c)(f)
RATIOS TO AVERAGE NET ASSETS
Expenses, including waiver and expense reductions 1.05%(c) 2.33% 2.27% .75%(c)
Expenses, excluding waiver and expense reductions 1.05%(c) 2.51% 3.02% .87%(c)
Net investment loss (.83)%(c) (1.92)% (1.70)% (.76)%(c)
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 7/31/2001
- ----------------------------------------------------------------------------------------------------------------
Net assets, end of period (000) $ 37,246 $ 21,518 $ 12,013 $ 283
Portfolio turnover rate 31.96% 68.48% 47.69% 5.86%
================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
11
<Page>
FINANCIAL HIGHLIGHTS (CONTINUED)
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
(UNAUDITED) 2003 2002 7/31/2001
PER SHARE OPERATING PERFORMANCE (CLASS C SHARES)
NET ASSET VALUE, BEGINNING OF PERIOD $ 11.56 $ 9.12 $ 10.45 $ 10.00
========== ========= ========= ============
Unrealized appreciation on investments .06
------------
NET ASSET VALUE ON SEC EFFECTIVE DATE $ 10.06
============
Investment operations
Net investment loss(a) (.11) (.18) (.18) (.07)
Net realized and unrealized gain (loss) 2.93 2.62 (1.15) .46
---------- --------- --------- ------------
Total from investment operations 2.82 2.44 (1.33) .39
---------- --------- --------- ------------
Distributions to shareholders from:
Net investment income (.08) - - -
Net realized gain (.12) - -(g) -
---------- --------- --------- ------------
Total distributions (.20) - - -
---------- --------- --------- ------------
NET ASSET VALUE, END OF PERIOD $ 14.18 $ 11.56 $ 9.12 $ 10.45
========== ========= ========= ============
Total Return(b)(e) .60%(c)
Total Return(b) 24.53%(c) 26.75% (12.68)% 3.88%(c)(f)
RATIOS TO AVERAGE NET ASSETS
Expenses, including waiver and expense reductions 1.05%(c) 2.33% 2.27% .75%(c)
Expenses, excluding waiver and expense reductions 1.05%(c) 2.51% 3.02% .87%(c)
Net investment loss (.83)%(c) (1.92)% (1.70)% (.76)%(c)
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 7/31/2001
- ----------------------------------------------------------------------------------------------------------------
Net assets, end of period (000) $ 45,605 $ 23,039 $ 40,432 $ 468
Portfolio turnover rate 31.96% 68.48% 47.69% 5.86%
================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
12
<Page>
FINANCIAL HIGHLIGHTS (CONTINUED)
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
(UNAUDITED) 2003 2002 7/31/2001
PER SHARE OPERATING PERFORMANCE (CLASS P SHARES)
NET ASSET VALUE, BEGINNING OF PERIOD $ 11.73 $ 9.19 $ 10.45 $ 10.00
========== ========= ========= ============
Unrealized appreciation on investments .06
------------
NET ASSET VALUE ON SEC EFFECTIVE DATE $ 10.06
============
Investment operations
Net investment loss(a) (.06) (.10) (.12) (.07)
Net realized and unrealized gain (loss) 2.97 2.64 (1.14) .46
---------- --------- --------- ------------
Total from investment operations 2.91 2.54 (1.26) .39
---------- --------- --------- ------------
Distributions to shareholders from:
Net investment income (.10) - - -
Net realized gain (.12) - -(g) -
---------- --------- --------- ------------
Total distributions (.22) - - -
---------- --------- --------- ------------
NET ASSET VALUE, END OF PERIOD $ 14.42 $ 11.73 $ 9.19 $ 10.45
========== ========= ========= ============
Total Return(b)(e) .60%(c)
Total Return(b) 24.97%(c) 27.64% (12.01)% 3.88%(c)(f)
RATIOS TO AVERAGE NET ASSETS
Expenses, including waiver and expense reductions .78%(c)+ 1.78%+ 1.72% .70%(c)
Expenses, excluding waiver and expense reductions .78%(c)+ 1.96%+ 2.47% .82%(c)
Net investment loss (.56)%(c)+ (1.37)%+ (1.15)% (.68)%(c)
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 7/31/2001
- ----------------------------------------------------------------------------------------------------------------
Net assets, end of period (000) $ 2 $ 1 $ 1 $ 1
Portfolio turnover rate 31.96% 68.48% 47.69% 5.86%
================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
13
<Page>
FINANCIAL HIGHLIGHTS (CONCLUDED)
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
(UNAUDITED) 2003 2002 7/31/2001
PER SHARE OPERATING PERFORMANCE (CLASS Y SHARES)
NET ASSET VALUE, BEGINNING OF PERIOD $ 11.75 $ 9.20 $ 10.45 $ 10.00
========== ========= ========= ============
Unrealized appreciation on investments .06
------------
NET ASSET VALUE ON SEC EFFECTIVE DATE $ 10.06
============
Investment operations
Net investment loss(a) (.04) (.11) (.10) (.07)
Net realized and unrealized gain (loss) 2.98 2.66 (1.15) .46
---------- --------- --------- ------------
Total from investment operations 2.94 2.55 (1.25) .39
---------- --------- --------- ------------
Distributions to shareholders from:
Net investment income (.15) - - -
Net realized gain (.12) - -(g) -
---------- --------- --------- ------------
Total distributions (.27) - - -
---------- --------- --------- ------------
NET ASSET VALUE, END OF PERIOD $ 14.42 $ 11.75 $ 9.20 $ 10.45
========== ========= ========= ============
Total Return(b)(e) .60%(c)
Total Return(b) 25.19%(c) 27.72% (11.92)% 3.88%(c)(f)
RATIOS TO AVERAGE NET ASSETS
Expenses, including waiver and expense reductions .55%(c) 1.33%+ 1.27% .66%(c)
Expenses, excluding waiver and expense reductions .55%(c) 1.51%+ 2.02% .78%(c)
Net investment loss (.33)%(c) (.92)%+ (.70)% (.63)%(c)
<Caption>
SIX MONTHS
ENDED YEAR ENDED 7/31 6/18/2001(d)
1/31/2004 ---------------------- TO
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 7/31/2001
- ----------------------------------------------------------------------------------------------------------------
Net assets, end of period (000) $ 5,274 $ 1 $ 1 $ 1
Portfolio turnover rate 31.96% 68.48% 47.69% 5.86%
================================================================================================================
</Table>
+ The ratios have been determined on a Fund basis.
(a) Calculated using average shares outstanding during the period.
(b) Total return does not consider the effects of sales loads and assumes the
reinvestment of all distributions.
(c) Not annualized.
(d) Commencement of investment operations; SEC effective date on June 26, 2001;
Fund shares became available to the public on July 2, 2001.
(e) Total return is for the period 6/18/01 through 6/26/01.
(f) Total return is for the period 6/26/01 through 7/31/01.
(g) Amount represents less than $.01.
SEE NOTES TO FINANCIAL STATEMENTS.
14
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. ORGANIZATION
Lord Abbett Blend Trust (the "Trust") is registered under the Investment Company
Act of 1940 (the "Act") as an open-end management company, organized as a
Delaware Business Trust on May 1, 2001. The Trust has one series, Lord Abbett
Small-Cap Blend Fund (the "Fund"). The Securities and Exchange Commission
declared the registration of the Fund and its shares effective on June 26, 2001
and each class of shares became available to the public on July 2, 2001. The
Fund is diversified under the Act.
The Fund's investment objective is to seek long-term growth of capital by
investing primarily in stocks of small companies. The Fund offers five classes
of shares: Classes A, B, C, P and Y, each with different expenses and dividends.
A front-end sales charge is normally added to the Net Asset Value ("NAV") for
Class A shares. There is no front-end sales charge in the case of the Class B,
C, P and Y shares, although there may be a contingent deferred sales charge
("CDSC") as follows: certain redemptions of Class A shares made within 24 months
following any purchases made without a sales charge; Class B shares redeemed
before the sixth anniversary of purchase; and Class C shares redeemed before the
first anniversary of purchase. Class B shares will convert to Class A shares on
the eighth anniversary of the original purchase of Class B shares.
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of increases and decreases in
net assets from operations during the reporting period. Actual results could
differ from those estimates.
2. SIGNIFICANT ACCOUNTING POLICIES
(a) INVESTMENT VALUATION-Securities traded on any recognized U.S. or non-U.S.
exchange or on NASDAQ, Inc. are valued at the last sale price or official
closing price on the exchange or system on which they are principally
traded. Unlisted equity securities are valued at the last quoted sales price
or, if no sales price is available, at the mean between the most recently
quoted bid and asked prices. Securities for which market quotations are not
readily available are valued at fair value as determined by management and
approved in good faith by the Board of Trustees. Short-term securities with
60 days or less remaining to maturity are valued using the amortized cost
method, which approximates current market value.
(b) SECURITY TRANSACTIONS-Security transactions are recorded as of the date that
the securities are purchased or sold (trade date). Realized gains and losses
on sales of portfolio securities are calculated using the identified-cost
method. Realized and unrealized gains or losses are allocated to each class
of shares based upon the relative proportion of net assets at the beginning
of the day.
(c) INVESTMENT INCOME-Dividend income is recorded on the ex-dividend date.
Interest income is recorded on the accrual basis. Discounts are accreted and
premiums are amortized using the effective interest method. Investment
income is allocated to each class of shares based upon the relative
proportion of net assets at the beginning of the day.
(d) FEDERAL TAXES-It is the policy of the Fund to meet the requirements of
Subchapter M of the Internal Revenue Code applicable to regulated investment
companies and to distribute
15
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONTINUED)
substantially all taxable income and capital gains to its shareholders.
Therefore, no federal income tax provision is required.
(e) EXPENSES-Expenses, excluding class specific expenses, are allocated to each
class of shares based upon the relative proportion of net assets at the
beginning of the day. Class A, Class B, Class C and Class P shares bear all
expenses and fees relating to their respective 12b-1 Distribution Plans.
(f) REPURCHASE AGREEMENTS-The Fund may enter into repurchase agreements with
respect to securities. A repurchase agreement is a transaction in which the
Fund acquires a security and simultaneously commits to resell that security
to the seller (a bank or securities dealer) at an agreed-upon price on an
agreed-upon date. The Fund requires at all times that the repurchase
agreement be collateralized by cash, U.S. Government securities or U.S.
government sponsored enterprise securities having a value equal to, or in
excess of, the value of the repurchase agreement. If the seller of the
agreement defaults on its obligation to repurchase the underlying securities
at a time when the value of these securities has declined, the Fund may
incur a loss upon disposition of the securities.
3. MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES
MANAGEMENT FEE
The Trust has a management agreement with Lord, Abbett & Co. LLC ("Lord Abbett")
pursuant to which Lord Abbett supplies the Fund with investment management
services and executive and other personnel, pays the remuneration of officers,
provides office space and pays for ordinary and necessary office and clerical
expenses relating to research and statistical work and supervision of the Fund's
investment portfolio. The management fee is based on average daily net assets at
an annual rate of .75%.
Lord Abbett provides certain administrative services to the Fund pursuant to an
Administrative Services Agreement at an annual rate of .04% of the Fund's
average daily net assets.
12b-1 DISTRIBUTION PLANS
The Fund has adopted a distribution plan with respect to one or more classes of
shares pursuant to Rule 12b-1 of the Act, which provides for the payment of
ongoing distribution and service fees to Lord Abbett Distributor LLC
("Distributor"), an affiliate of Lord Abbett. The fees are accrued daily at
annual rates based upon average daily net assets as follows:
<Table>
<Caption>
FEE CLASS A CLASS B CLASS C CLASS P
- --------------------------------------------------------------------------------
Service .25% .25% .25% .20%
Distribution .10%(1) .75% .75% .25%
</Table>
(1) In addition, the Fund pays a one-time distribution fee of up to 1% on
certain qualifying purchases, which is generally amortized over a two-year
period.
Class Y does not have a distribution plan.
16
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONTINUED)
COMMISSIONS
Distributor received the following commissions on sales of Class A shares of the
Fund, after concessions were paid to authorized dealers, for the six months
ended January 31, 2004:
<Table>
<Caption>
DISTRIBUTOR DEALERS'
COMMISSIONS CONCESSIONS
- ---------------------------------------------
$ 164,153 $ 906,224
</Table>
One Trustee and certain of the Trust's officers have an interest in Lord Abbett.
4. DISTRIBUTIONS AND CAPITAL LOSS CARRYFORWARD
Dividends from net investment income, if any, are declared and paid at least
annually. Taxable net realized gains from investment transactions, reduced by
capital loss carryforwards, if any, are declared and distributed to shareholders
at least annually. The capital loss carryforward amount is available to offset
future net capital gains. Dividends and distributions to shareholders are
recorded on the ex-dividend date. The amount of dividends and distributions from
net investment income and net realized capital gains are determined in
accordance with federal income tax regulations which may differ from accounting
principles generally accepted in the United States of America. These book/tax
differences are either considered temporary or permanent in nature. To the
extent these differences are permanent in nature, such amounts are reclassified
within the components of net assets based on their federal tax basis treatment;
temporary differences do not require reclassification. Dividends and
distributions which exceed net investment income and net realized capital gains
for tax purposes are reported as distributions of paid-in capital.
The tax character of distributions paid during the six months ended January 31,
2004 and the fiscal year ended July 31, 2003 are as follows:
<Table>
<Caption>
1/31/2004 7/31/2003
- --------------------------------------------------------------------------------
Distributions paid from:
Ordinary income $ 1,319,721 $ --
Net long term capital gains 1,459,941 --
- --------------------------------------------------------------------------------
Total distributions paid $ 2,779,662 $ --
</Table>
Capital losses incurred after October 31 ("Post-October losses") within the
taxable year are deemed to arise on the first business day of the Fund's next
taxable year. The Fund incurred and will elect to defer net capital losses of
$427,819 during fiscal 2003.
As of January 31, 2004, the Fund's aggregate unrealized security gains and
losses based on cost for U.S. Federal income tax purposes are as follows:
<Table>
Tax cost $ 177,663,942
- -----------------------------------------------------------
Gross unrealized gain 34,783,962
Gross unrealized loss (2,336,825)
- -----------------------------------------------------------
Net unrealized security gain $ 32,447,137
- -----------------------------------------------------------
</Table>
The difference between book-basis and tax-basis unrealized gains (losses) is
primarily attributable to wash sales and other temporary tax adjustments.
17
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONTINUED)
5. PORTFOLIO SECURITIES TRANSACTIONS
Purchases and sales of investment securities (other than short-term investments)
for the six months ended January 31, 2004 are as follows:
<Table>
<Caption>
PURCHASES SALES
- ------------------------------------------------
$ 115,143,527 $ 45,719,540
</Table>
There were no purchases or sales of U.S. Government securities for the six
months ended January 31, 2004.
6. TRUSTEES' REMUNERATION
The Trust's officers and the one Trustee who are associated with Lord Abbett do
not receive any compensation from the Trust for serving in such capacities.
Outside Trustees' fees are allocated among all Lord Abbett-sponsored funds based
on the net assets of each fund. There is an equity based plan available to all
outside Trustees under which outside Trustees must defer receipt of a portion
of, and may elect to defer receipt of an additional portion of Trustees' fees.
The deferred amounts are treated as though equivalent dollar amounts have been
invested proportionately in the funds. Such amounts and earnings accrued thereon
are included in Trustees' fees on the Statement of Operations and in Trustees'
fees payable on the Statement of Assets and Liabilities and are not deductible
for U.S. federal income tax purposes until such amounts are paid.
7. EXPENSE REDUCTIONS
The Fund has entered into arrangements with its transfer agent and custodian
whereby credits realized as a result of uninvested cash balances are used to
reduce a portion of the Fund's expenses.
8. LINE OF CREDIT
The Fund, along with certain other funds managed by Lord Abbett, has available a
$200,000,000 unsecured revolving credit facility ("Facility") from a consortium
of banks, to be used for temporary or emergency purposes as an additional source
of liquidity to fund redemptions of investor shares. Any borrowings under this
Facility will bear interest at current market rates as defined in the agreement.
The fee for this Facility is at an annual rate of .09%. At January 31, 2004,
there were no loans outstanding pursuant to this Facility nor was the Facility
utilized at any time during the six months then ended.
9. CUSTODIAN AND ACCOUNTING AGENT
State Street Bank and Trust Company ("SSB") is the Fund's custodian and
accounting agent. SSB performs custodian, accounting and recordkeeping functions
relating to portfolio transactions and calculating the Fund's NAV.
10. INVESTMENT RISKS
The Fund is subject to the general risks and considerations associated with
equity investing as well as the particular risks associated with growth and
value stocks. The value of an investment
18
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONCLUDED)
will fluctuate in response to movements in the stock market in general, and to
the changing prospects of individual companies in which the Fund invests.
Different types of stocks shift in and out of favor depending on market and
economic conditions. Growth stocks tend to be more volatile than other stocks.
The market may fail to recognize the intrinsic value of particular value stocks
for a long time. In addition, if the Fund's assessment of a company's potential
for growth or market conditions is wrong, it could suffer losses or produce poor
performance relative to other funds, even in a rising market. The Fund invests
primarily in small company stocks, which tend to be more volatile and can be
less liquid than large company stocks. Small companies may also have more
limited product lines, markets or financial resources, and typically experience
a higher risk of failure than large companies. These factors can affect Fund
performance.
11. SUMMARY OF CAPITAL TRANSACTIONS
The Trust has an unlimited number of authorized shares of beneficial interest.
<Table>
<Caption>
SIX MONTHS ENDED
JANUARY 31, 2004 YEAR ENDED
(UNAUDITED) JULY 31, 2003
- -------------------------------------------------------------------------------------------------------
CLASS A SHARES SHARES AMOUNT SHARES AMOUNT
- -------------------------------------------------------------------------------------------------------
Shares sold 3,654,969 $ 48,504,730 2,908,482 $ 28,100,893
Reinvestment of distributions 112,453 1,503,501 - -
Shares reacquired (481,756) (6,484,226) (1,072,690) (10,036,648)
- -------------------------------------------------------------------------------------------------------
Increase 3,285,666 $ 43,524,005 1,835,792 $ 18,064,245
- -------------------------------------------------------------------------------------------------------
CLASS B SHARES
Shares sold 878,139 $ 11,401,450 817,977 $ 7,840,219
Reinvestment of distributions 27,304 360,957 - -
Shares reacquired (140,723) (1,824,398) (274,061) (2,510,069)
- -------------------------------------------------------------------------------------------------------
Increase 764,720 $ 9,938,009 543,916 $ 5,330,150
- -------------------------------------------------------------------------------------------------------
CLASS C SHARES
Shares sold 1,398,935 $ 18,255,546 1,192,843 $ 11,424,129
Reinvestment of distributions 24,984 330,037 - -
Shares reacquired (199,583) (2,588,725) (343,914) (3,203,563)
- -------------------------------------------------------------------------------------------------------
Increase 1,224,336 $ 15,996,858 848,929 $ 8,220,566
- -------------------------------------------------------------------------------------------------------
CLASS P SHARES
Reinvestment of distributions 1.78 $ 24 - $ -
- -------------------------------------------------------------------------------------------------------
Increase 1.78 $ 24 - $ -
- -------------------------------------------------------------------------------------------------------
CLASS Y SHARES
Shares sold 360,292 $ 4,750,205 - $ -
Reinvestment of distributions 5,449 73,075 - -
- -------------------------------------------------------------------------------------------------------
Increase 365,741 $ 4,823,280 - $ -
- -------------------------------------------------------------------------------------------------------
</Table>
19
<Page>
HOUSEHOLDING
The Trust has adopted a policy that allows it to send only one copy of the
Fund's Prospectus, proxy material, annual report and semi-annual report to
certain shareholders residing at the same "household." This reduces Fund
expenses, which benefits you and other shareholders. If you need additional
copies or do not want your mailings to be "householded," please call Lord Abbett
at 800-821-5129 or send a written request with your name, the name of your fund
or funds and your account number or numbers to Lord Abbett Family of Funds, P.O.
Box 219336, Kansas City, MO 64121.
PROXY VOTING POLICIES AND PROCEDURES
A description of the policies and procedures that Lord Abbett uses to vote
proxies related to the Fund's portfolio securities is available without charge,
upon request, (i) by calling 888-522-2388; (ii) on Lord Abbett's web site at
www.LordAbbett.com; and (iii) on the SEC's website at www.sec.gov.
20
<Page>
[LORD ABBETT(R) LOGO]
<Table>
This report when not used for the general
information of shareholders of the Fund, is to
be distributed only if preceded or accompanied Lord Abbett Blend Trust
by a current Fund Prospectus. Lord Abbett Small-Cap Blend Fund
Lord Abbett Mutual Fund shares are distributed by: LASCB-3-104
LORD ABBETT DISTRIBUTOR LLC (3/04)
90 Hudson Street - Jersey City, New Jersey 07302-3973
</Table>
<Page>
ITEM 2: Code of Ethics.
Not applicable
ITEM 3: Audit Committee Financial Expert.
Not applicable.
ITEM 4-8: [Reserved]
ITEM 9: Submission of Matters to a Vote of Security Holders.
Not Applicable.
ITEM 10: Controls and Procedures.
(a) Based on their evaluation of the registrant's disclosure controls
and procedures (as defined in Rule 30a-2(c) under the Investment
Company Act of 1940) as of August 21, 2003, the Chief Executive
Officer and Chief Financial Officer of the registrant have
concluded that such disclosure controls and procedures are
reasonably designed and effective to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to them by others within those
entities.
(b) There were no significant changes in the registrant's internal
controls or in other factors that could significantly affect these
controls subsequent to the date of their evaluation, including any
corrective actions with regard to significant deficiencies and
material weaknesses.
ITEM 11: Exhibits.
ITEM 11(a): Not applicable.
ITEM 11(b):
(i) Certification of each principal executive officer and principal financial
officer of the registrant as required by Rule 30a-2 under the Act (17 CFR
270.30a-2) is attached hereto as a part of EX-99.CERT.
(ii) Certification of each principal executive officer and principal financial
officer of the registrant as required by Section 906 of the
Sarbanes-Oxley Act of 2002 is attached hereto as a part of EX-99.906CERT.
<Page>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Lord Abbett Blend Trust
/s/ Robert S. Dow
-----------------
Robert S. Dow
Chief Executive Officer,
Chairman and President
/s/ Joan A. Binstock
--------------------
Joan A. Binstock
Chief Financial Officer and Vice President
Date: March 25, 2004
<Page>
Pursuant to the requirements of the Securities and Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
Lord Abbett Blend Trust
/s/ Robert S. Dow
-----------------
Robert S. Dow
Chief Executive Officer,
Chairman and President
/s/ Joan A. Binstock
--------------------
Joan A. Binstock
Chief Financial Officer and Vice President
Date: March 25, 2004