SCUDDER
INVESTMENTS (SM)
[LOGO]
Scudder Medium Term Tax
Free Fund
Supplement to Prospectus
Dated October 1, 1999
The following information replaces disclosure for the portfolios in "The
portfolio managers" section of the prospectus:
The following people handle the day-to-day management of each portfolio in this
prospectus.
Ashton P. Goodfield
Co-Lead Portfolio Manager
o Began investment career in 1986
o Joined the adviser in 1986
o Joined the fund team in 1998
Philip G. Condon
Co-Lead Portfolio Manager
o Began investment career in 1978
o Joined the adviser in 1983
o Joined the fund team in 1999
July 6, 2000
