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Kemper Aggressive Growth Fund Kemper Asian Growth Fund
Kemper Blue Chip Fund Kemper Classic Growth Fund
Kemper Contrarian Fund Kemper Growth Fund
Kemper Global Blue Chip Fund Kemper Global Income Fund
Kemper Global Discovery Fund Kemper High Yield Fund II
Kemper High Yield Fund Kemper Horizon 20+ Portfolio
Kemper High Yield Opportunity Fund Kemper Horizon 5 Portfolio
Kemper Horizon 10+ Portfolio Kemper International Fund
Kemper Income and Capital Preservation Fund Kemper New Europe Fund, Inc.
Kemper International Research Fund Kemper Small Capitalization Equity Fund
Kemper Short-Term U.S. Government Fund Kemper Strategic Income Fund
Kemper Small Cap Value Fund Kemper Technology Fund
Kemper Target 2011 Fund Kemper U.S. Government Securities Fund
Kemper Total Return Fund Kemper Value Fund
Kemper U.S. Mortgage Fund Kemper U.S. Growth and Income Fund
Kemper Value + Growth Fund Kemper-Dreman High Return Equity Fund
Kemper-Dreman Financial Services Fund Scudder Growth and Income Fund
Scudder Focus Growth Fund Scudder High Yield Tax Free Fund
Scudder Health Care Fund Scudder Large Company Growth Fund
Scudder International Fund Scudder Pathway Series: Growth Portfolio
Scudder Pathway Series: Conservative Portfolio Scudder Research Fund
Scudder Pathway Series: Moderate Portfolio Scudder Technology Fund
Scudder 21st Century Growth Fund
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The following text supplements the section entitled "Purchase of Shares" in each
of the currently effective Statements of Additional Information for each of the
above-noted funds:
From January 1, 2001 to April 30, 2001 ("Special Offering Period"), Kemper
Distributors, Inc. ("KDI"), the principal underwriter for the Class A Shares,
intends to reallow to certain firms the full applicable sales charge with
respect to Class A shares purchased for self-directed Individual Retirement
Accounts ("IRA accounts") during the Special Offering Period (not including
Class A shares acquired at net asset value). IRA accounts include Traditional,
Roth and Education IRAs, Savings Incentive Match Plan for Employees of Small
Employers ("SIMPLE") IRA accounts and Simplified Employee Pension Plan ("SEP")
IRA accounts. Firms entitled to the full reallowance during the Special Offering
Period are those firms which allow KDI to participate in a special promotion of
self-directed IRA accounts, with other fund complexes, sponsored by the firms
during the Special Offering Period.
January 1, 2001
