AARP INVESTMENT PROGRAM FROM SCUDDER
AARP Balanced Stock and Bond Fund
Supplement to the Statement of Additional dated February 1, 1999, as Revised
June 30, 1999
The following information should be included after the second sentence in the
first paragraph under the section "THE AARP FUNDS' INVESTMENT OBJECTIVES AND
POLICIES - AARP Growth and Income Funds - AARP Balanced Stock and Bond Fund -
Equity investments" beginning on page 15:
The Fund may invest no more than 5% of its total assets in equity investments
which do not pay current dividends but which, in the Fund Manager's judgment,
offer prospects for growth of capital and future income.
December 2, 1999
