SCUDDER                             (logo)


Scudder Variable Life 
Investment Fund

Capital Growth Portfolio

Supplement to Prospectus
Dated May 1, 1997

Until  August 1,  1997,  Scudder  Variable  Life  Investment  Fund's  investment
adviser,  Scudder,  Stevens & Clark,  Inc.,  has  agreed to waive  0.025% of its
investment  management fee payable by Capital Growth Portfolio (the "Portfolio")
based on the  average  daily  net  assets  of the  Portfolio  in  excess of $500
million.





July 1, 1997



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