DAILY CASH ACCUMULATION FUND, INC.
                      Supplement dated May 12, 1997 to the
            Statement of Additional Information dated April 25, 1997


The  last  sentence  of first  paragraph  of the  section  of the  Statement  of
Additional  Information  entitled  "Service  Plan" on page 13 is eliminated  and
replaced by the following:

Payments by the Fund under the Plan for the fiscal year ended  December 31, 1996
totaled $7,123,026, all of which was paid to Edwards.



May 12, 1997                                                        PX0140.001



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