SCUDDER VARIABLE LIFE INVESTMENT FUND
June 26, 1995
Dear Investor,
I am writing to provide you with some important information regarding
Scudder Variable Life Investment Fund. This information is provided to you on
the reverse side of this letter and is a supplement to the 1995 Prospectus you
received earlier this year. Please keep this supplement in your files with your
Prospectus.
We would like to inform you of changes to the Capital Growth Portfolio's
management team. We welcome William F. Gadsden as Lead Portfolio Manager and
Bruce F. Beaty as Portfolio Manager. Lead Portfolio Manager Steven P. Aronoff
and Portfolio Manager Julia D. Cox will now be focusing on other
responsibilities within Scudder, Stevens & Clark, Inc. including research and
portfolio management. In addition, please note that there have been no changes
to the investment objectives or policies of the Portfolio.
If you have any questions about this information, please feel free to call
us at 1-800-225-2470. We will be happy to assist you.
Sincerely,
/s/David B. Watts
David B. Watts
President,
Scudder Variable Life Investment Fund
This letter is for explanatory purposes and is not part
of the prospectus supplement on the reverse side.
(over, please)
<PAGE>
Scudder Variable Life Investment Fund
Capital Growth Portfolio
Supplement to Prospectus
dated May 1, 1995
The following text replaces the section entitled CAPITAL GROWTH PORTFOLIO under
"INVESTMENT ADVISER."
CAPITAL GROWTH PORTFOLIO
Lead Portfolio Manager William F. Gadsden assumed responsibility for setting
Capital Growth Portfolio's stock investing strategy and overseeing the
Portfolio's day-to-day operations in 1995. Mr. Gadsden, who joined Scudder in
1983 and the team in 1989, has 13 years of portfolio management experience.
Bruce F. Beaty, Portfolio Manager, focuses on securities selection and assists
with the creation and implementation of investment strategy for the Portfolio.
Mr. Beaty joined Scudder in 1991 and has 15 years of investment industry
experience, including four years as a portfolio manager.
June 26, 1995 PSQ20-65
