Scudder New York Tax Free Fund
Supplement to the Prospectus
Dated August 1, 1996
On October 8, 1996, the Board of Trustees of Scudder New York Tax Free Fund
voted to recommend that shareholders approve changing the Fund's investment
classification to that of a non-diversified investment company. Shareholders
will have an opportunity to vote on this and other matters at a shareholder
meeting to be held on December 10, 1996. If approved by shareholders, this
change will become effective December 10, 1996. As a "non-diversified"
investment company, Scudder New York Tax Free Fund would be able to invest a
greater proportion of its assets in the securities of a smaller number of
issuers than a diversified investment company. As a result, an investment in a
non-diversified fund may involve greater risk than investment in a diversified
fund.
October 14, 1996
