AARP Managed
Investment Portfolios
AARP Diversified Income with
Growth Portfolio
AARP Diversified Growth Portfolio
SUPPLEMENT TO THE PROSPECTUS
Dated February 1, 2000
AARP Diversified Income with Growth Portfolio and AARP Diversified Growth
Portfolio (collectively, the "Portfolios"), each a series of AARP Managed
Investment Portfolios Trust, are currently scheduled to be reorganized into
Scudder Pathway Series: Conservative Portfolio and Scudder Pathway Series:
Growth Portfolio, respectively, on or about September 25, 2000. Prior to the
reorganizations of the Portfolios, each of the AARP Funds in which the
Portfolios may invest is currently scheduled to either (i) be reorganized into
an existing or newly created Scudder Fund, or (ii) change its name to become a
Scudder Fund. As a result of these changes, the Portfolios will have the ability
to invest in any of the funds in the Scudder Family of no-load funds until on or
about September 25, 2000. Unlike the AARP Funds, certain of the Scudder funds in
which the Portfolios may invest are not managed to limit downside risk as
compared to similar funds and may purchase securities issued by
tobacco-producing companies.
July 31, 2000
