AARP Investment Program
from Scudder
Supplement to Prospectus dated February 1, 1997
Trusts AARP Mutual Funds
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AARP Cash Investment Funds AARP High Quality Money Fund
AARP Income Trust AARP GNMA and U.S. Treasury Fund
AARP High Quality Bond Fund
AARP Bond Fund for Income
AARP Tax Free Income Trust AARP High Quality Tax Free Money Fund
AARP Insured Tax Free General Bond Fund
AARP Growth Trust AARP Balanced Stock and Bond Fund
AARP Growth and Income Fund
AARP U.S. Stock Index Fund
AARP Global Growth Fund
AARP Capital Growth Fund
AARP International Stock Fund
AARP Small Company Stock Fund
AARP Managed Investment AARP Diversified Income Portfolio
Portfolios Trust AARP Diversified Growth Portfolio
AARP Diversified Income Portfolio
On September 24, 1997, the Board of Trustees of the AARP Managed Investment
Portfolios Trust approved the name change from AARP Diversified Income
Portfolio to AARP Diversified Income with Growth Portfolio. In addition,
the Board voted and approved a change to the dividend schedule for the
Fund, from dividends paid monthly to dividends declared and distributed on
a quarterly basis in April, July, October and January.
Both changes will become effective on February 1, 1998.
AARP High Quality Bond Fund
On September 24, 1997, the Board of Trustees of the AARP Income Trust voted
to change the AARP High Quality Bond Fund's investment objective and
certain of its policies, as well as to change the Fund's name accordingly
to AARP High Quality Short Term Bond Fund. These changes will become
effective on February 1, 1998.
The Fund's objective will be to produce a high level of current income and
to reduce the size and frequency of loss to the Fund's portfolio compared
to other short-term bond mutual funds. The Fund will pursue these
objectives by investing primarily in high-quality short-term U.S.
Government, corporate and other fixed-income securities. The Fund will be
suitable for investors who want high current income with more price
stability than investments in intermediate and long-term bonds.
December 1, 1997
