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Institutional Government Portfolio Institutional Federal Portfolio Institutional Cash Portfolio Institutional Tax-Free Portfolio Supplement to Prospectus Dated May 1, 1995 The Fund's investment adviser, Scudder, Stevens & Clark, Inc., has agreed to continue to maintain the total annualized expenses of the Institutional Federal Portfolio at not more than 0.70% of average daily net assets of the Portfolio for the period July 1, 1995 through December 31, 1995. July 10, 1995
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