JAPAN FUND INC
497, 2000-12-18
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                              The Japan Fund, Inc.
                                     Class S


          Supplement to the Fund's Statement of Additional Information
                                Dated May 1, 2000

The  following  information   supplements  the  disclosure  in  the  "Additional
Information  about  Opening  an  Account"  section of the  fund's  Statement  of
Additional Information:

         On October 19, 2000, the Fund's Board approved a proposal which,  after
December  29,  2000,  eliminates  the  ability of new  investors  of the Fund to
exchange into Class S shares of various other Scudder Funds.

There is no change to the exchange  privileges for new shareholders who purchase
shares of the fund prior to December 29, 2000, or to current shareholders of the
fund.  In addition,  other  Scudder  Funds' Class S  shareholders  who purchased
shares prior to December  29, 2000 will be allowed to continue to exchange  into
Class S shares of the Fund after December 29, 2000.


December 27, 2000


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