AARP INVESTMENT PROGRAM FROM SCUDDER
Supplement to the Statement of Additional Information dated February 1, 1996
The following text replaces the text under "Financial Statements" on page 71.
FINANCIAL STATEMENTS
The financial statements and notes, including the investment portfolio
of each AARP Fund, together with the Financial Highlights, are incorporated by
reference and attached hereto on pages 25 through 84 inclusive, in the Mid-Year
Report to Shareholders of the Funds dated March 31, 1996, and are hereby deemed
to be part of the Statement of Additional Information.
July 1, 1996
