U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
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1. Name and address of issuer:
Scudder Variable Life Investment Fund
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Two International Place
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Boston, MA 02110
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2. Name of each series or class of funds for which this notice is filed:
Money Market Portfolio
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Bond Portfolio
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Capital Growth Portfolio
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International Portfolio
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3. Investment Company Act File Number:
811-4257
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Securities Act File Number:
2-96461
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4. Last day of fiscal year for which this notice is filed:
December 31, 1996
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5. Check box if this notice is being filed more than 180 days after the close of the issuer's fiscal year for
purposes of reporting securities sold after the close of the fiscal year but before termination of the
issuer's 24f-2 declaration:
[ ]
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6. Date of termination of issuer's declaration under Rule 24f-2(a)(1), if applicable (see
Instruction A.6):
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7. Number and amount of securities of the same class or series which had been registered under the Securities Act
of 1933 other than pursuant to Rule 24f-2 in a prior fiscal year, but which remained unsold at the beginning
of the fiscal year:
Number: 0
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Amount: 0
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8. Number and amount of securities registered during the fiscal year other than pursuant to Rule 24f-2:
Number: 54,457,114
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Amount: $147,408,813
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9. Number and aggregate sale price of securities sold during the fiscal year:
Number: 50,529,422
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Aggregate Sale Price: $130,240,918
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10. Number and aggregate sale price of securities sold during the fiscal year in reliance upon registration
pursuant to Rule 24f-2:
Number: 37,753,274
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Aggregate Sale Price: $117,464,770
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11. Number and aggregate sale price of securities issued during the fiscal year in connection with dividend
reinvestment plans, if applicable (see Instruction B.7):
Number: 2,392,703
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Aggregate Sale Price: $11,585,720
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12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the
fiscal year in reliance on Rule 24f-2 (from Item 10): $117,464,770
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(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (from Item 11, if +$11,585,720
applicable):
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(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable): -$129,050,490
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(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees
pursuant to Rule 24e-2 (if applicable): +0
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(v) Net aggregate price of securities sold and issued
during the fiscal year in reliance on Rule 24f-2
(line (i), plus line (ii), less line (iii), plus line $0
(iv)) (if applicable):
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(vi) Multiplier prescribed by Section 6(b) of the
Securities Act of 1933 or other applicable law or
regulation (see Instruction C.6): x1/3300
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(vii) Fee due (line (i) or line (v) multiplied by line $0
(vi)):
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Instruction: Issuers should complete lines (ii), (iii), (iv), and (v) only if the form is being filed within 60
days after the close of the issuer's fiscal year. See Instruction C.3.
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13. Check box if fees are being remitted to the Commission's lockbox depository as described in
section 3a of the Commission's Rules of Informal and Other Procedures (17 CFR 202.3a). [ ]
Date of mailing or wire transfer of filing fees to the Commission's lockbox
depository:
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SIGNATURES
This report has been signed below by the following persons on behalf of the issuer and in the capacities and
on the dates indicated.
By (Signature and Title)*: /s/ Thomas F. McDonough
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Thomas F. McDonough, Secretary
Date: February 28, 1997
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*Please print the name and title of the signing officer below the signature.
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LAW OFFICES OF
DECHERT PRICE & RHOADS
TEN POST OFFICE SQUARE - SOUTH
BOSTON, MA 02109-4603
TELEPHONE: (617) 728-7100
FAX: (617) 426-6567
February 27, 1997
Scudder Variable Life Investment Fund
Two International Place
Boston, MA 02110
Re: Rule 24f-2 Notice
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Gentlemen:
Scudder Variable Life Investment Fund (the "Trust") is a trust created
under a written Declaration of Trust dated March 15, 1985, and executed and
delivered in Boston, Massachusetts (as further amended, the "Declaration of
Trust"). The beneficial interest thereunder is represented by transferable
shares without par value (the "Shares"). The Trustees have the powers set forth
in the Declaration of Trust, subject to the terms, provisions and conditions
therein provided.
We are of the opinion that all legal requirements have been complied
with in the creation of the Trust and that said Declaration of Trust is legal
and valid.
Under Article V, Section 5.4 of the Declaration of Trust, the Trustees
are empowered, in their discretion, from time to time, to issue Shares for such
amount and type of consideration, at such time or times and on such terms as the
Trustees may deem best. Under Article V, Section 5.1, it is provided that the
number of Shares authorized to be issued under the Declaration of Trust is
unlimited. Under Article V, Section 5.11, the Trustees may authorize the
division of Shares into two or more series. By written instruments dated March
15, 1985, March 5, 1986, February 12, 1987, and April 15, 1988, the Trustees
divided the Shares into eleven series (the "Portfolios"). By written instruments
dated April 4, 1990, June 15, 1990, April 13, 1992, February 11, 1994 and
February 9, 1996, the Trustees abolished and dissolved six Portfolios and added
two new Portfolios, changing the total number of Portfolios to seven.
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Scudder Variable Life Investment Fund
February 27, 1997
Page Two
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By votes adopted on November 10, 1995 and November 15, 1996, the
Trustees of the Trust authorized the President, any Vice President, the
Secretary, and the Treasurer from time to time, to determine the appropriate
number of Shares to be registered, and to register with the Securities and
Exchange Commission, and to issue and sell to the public, such Shares.
We understand that you are about to file a Notice pursuant to Rule
24f-2 under the Investment Company Act of 1940, as amended, making definite the
registration of 40,145,950 Shares (including 2,392,703 Shares issued in
connection with dividend reinvestment plans) sold in reliance upon said Rule
24f-2 during the fiscal year ended December 31, 1996.
We are of the opinion that all necessary Trust action precedent to the
issue of said 40,145,950 Shares was duly taken. We are of the further opinion
that all such Shares were legally and validly issued, fully paid and
nonassessable by the Trust. In rendering the opinion expressed in the preceding
sentence, we rely on certification by an officer of the Trust that the Trust or
its agent received consideration for such Shares in accordance with the
provisions of the Trust's Declaration of Trust, and we assume that the sale of
such Shares was effected in compliance with the Securities Act of 1933, the
Investment Company Act of 1940, and applicable state laws regulating the sale of
securities.
We consent to your filing this opinion with the Securities and Exchange
Commission together with the Rule 24f-2 Notice referred to above.
Very truly yours,
/s/Dechert Price & Rhoads
