AbstractDespite its importance for early analytic philosophy, Gottlob Frege's account of existence statements, according to which they classify concepts, has been thought to succumb to a number of well‐worn criticisms. This article does two things. First, it argues that, by remaining faithful to the letter of Frege's claim that concepts are functions, the Fregean account can be saved from many of the standard criticisms. Second, it examines the problem that Frege's account fails to generalize to cases which involve definite descriptions and proper names. To deal with this the proffered analysis deviates from the letter of Frege's views, while remaining within its spirit. It proposes, in opposition to Frege, that expressions which grammatically look like singular terms should not always be read as referring to objects, but are sometimes best analysed as indicating functions.