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CASH EQUIVALENT FUND ("CEF")
SUPPLEMENT TO PROSPECTUS
DATED NOVEMBER 29, 1996
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TAX-EXEMPT CALIFORNIA
MONEY MARKET FUND ("TECMF")
SUPPLEMENT TO PROSPECTUS
DATED FEBRUARY 1, 1997
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CASH ACCOUNT TRUST ("CAT")
SUPPLEMENT TO PROSPECTUS
DATED AUGUST 1, 1996
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TAX-EXEMPT NEW YORK
MONEY MARKET FUND ("TNYMF")
SUPPLEMENT TO PROSPECTUS
DATED AUGUST 1, 1996
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INVESTORS CASH TRUST ("ICT")
SUPPLEMENT TO PROSPECTUS
DATED AUGUST 1, 1996
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PURCHASE OF SHARES
Orders for shares accompanied by a check or other negotiable bank draft
will be accepted and effected as of 3:00 p.m. Chicago time on the next business
day following receipt and such shares will receive the dividend for the next
calendar day following the day the purchase is effected. Shares purchased by
wire transfer in the form of Federal funds will receive that day's dividend if
effected at or prior to the 1:00 p.m. Chicago time net asset value ("NAV")
determination for ICT and the Money Market and Government Securities Portfolios
of CEF and CAT; and at or prior to the 11:00 a.m. Chicago time NAV determination
for TECMF, TNYMF and the Tax-Exempt Portfolios of CEF and CAT; otherwise such
shares will receive the dividend for the next calendar day if effected at 3:00
p.m. Chicago time.
DIVIDENDS AND TAXES
Shareholders may elect to reinvest dividends at NAV into additional shares
of a Fund. With respect to TECMF and TNYMF, effective May 1997, dividends are
normally reinvested on the next to last business day of the month or at such
time as a shareholder's entire account is redeemed, whichever occurs first.
Dividends will be reinvested unless the shareholder elects to receive dividends
in cash.
March 18, 1997
CPG-1 3/97 (LOGO)printed on recycled paper
