KEMPER PORTFOLIOS
Kemper Cash Reserves Fund
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SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 1999
The following disclosure supplements the section entitled "Investment
Restrictions" in the currently effective Statement of Additional Information:
With regard to Restriction #3, for purposes of determining the percentage of the
Fund's total assets invested in securities of issuers having their principal
business activities in a particular industry, asset backed securities will be
classified separately, based on the nature of the underlying assets. Currently,
the following categories are used: captive auto, diversified, retail and
consumer loans, captive equipment and business, business trade receivables,
nuclear fuel and capital and mortgage lending.
May 26, 1999
