SCUDDER
Scudder International Bond Fund
Supplement to Prospectus
dated November 1, 1996
The following text replaces the section entitled "Shareholder benefits--A team
approach to investing."
Scudder International Bond Fund is managed by a team of Scudder investment
professionals who each play an important role in the Fund's management process.
Team members work together to develop investment strategies and select
securities for the Fund's portfolio. They are supported by Scudder's large staff
of economists, research analysts, traders and other investment specialists who
work in Scudder's offices across the United States and abroad. Scudder believes
its team approach benefits Fund investors by bringing together many disciplines
and leveraging Scudder's extensive resources.
Lead Portfolio Manager Gary Johnson assumed responsibility for the Fund's
day-to-day management and investment strategies in February 1997. Mr. Johnson,
who has 16 years of investment industry experience, joined Scudder in 1987.
Portfolio Manager Adam M. Greshin specializes in global and international bond
investments. Mr. Greshin was involved in the original design of Scudder
International Bond Fund and has been a portfolio manager of the Fund since its
inception in 1988. Christopher B. Steward, Portfolio Manager, joined Scudder in
1992 and the Fund's team in 1996. Mr. Steward, who has nine years of investment
industry experience, helps set the Fund's investment strategy and contributes
special expertise in European investments.
February 21, 1997
