Scudder Variable Life Investment Fund
o Large Company Growth Portfolio
Supplement To Prospectus Dated May 1, 2000
The Board of the above-noted Portfolio (the "Portfolio") recently approved an
Agreement and Plan of Reorganization (the "Plan") between the Portfolio and
Kemper Variable Series - Kemper Growth Portfolio (the "Acquiring Portfolio").
The Plan provides for the transfer of substantially all of the assets and the
assumption of all of the liabilities of the Portfolio solely in exchange for
voting shares of the Acquiring Portfolio. The shares received by the Portfolio
would then be distributed to its shareholders as part of the Portfolio's
liquidation provided for in the Plan. (The transaction contemplated by the Plan
is referred to as the "Reorganization.")
The Reorganization can be consummated only if, among other things, it is
approved by a majority vote of shareholders of the Portfolio. A Special Meeting
(the "Meeting") of the shareholders of the Portfolio will be held on or about
March 14, 2001 and shareholders will be given the opportunity to vote on the
Plan and any other matters affecting the Portfolio at that time. In connection
with the Meeting, the Portfolio will deliver to its shareholders: (i) a Proxy
Statement/Prospectus describing in detail the Reorganization and the Board's
considerations in recommending that shareholders approve the Reorganization, and
(ii) a Prospectus for the Acquiring Portfolio.
If the Plan is approved at the Meeting and certain conditions required by the
Plan are satisfied, the Reorganization is expected to become effective at 9:00
a.m. Eastern standard time on or about May 1, 2001. If shareholder approval of
the Plan is delayed due to failure to obtain a quorum or otherwise, the
Reorganization will become effective as soon as practicable after the receipt of
shareholder approval.
In the event shareholders of the Portfolio fail to approve the Plan, the
Portfolio will continue to operate and the Portfolio's Board may resubmit the
Plan for shareholder approval or consider other proposals.
November 30, 2000
