<PAGE>
Deutsche Asset Management
BT Investment Funds
Cash Management Investment, Tax Free Money Investment, NY Tax Free Money
Investment, Treasury Money Investment, International Equity, Mid Cap, Lifecycle
Long Range, Lifecycle Mid Range, Lifecycle Short Range, Small Cap,
PreservationPlus Income and Quantitative Equity
BT Advisor Funds
EAFE(R) Equity Index, Small Cap Index and U.S. Bond Index
BT Pyramid Mutual Funds
Money Market Investment, Equity 500 Index Investment, Asset Management and
PreservationPlus
BT Institutional Funds
Cash Management Institutional, Cash Reserves Institutional, Treasury Money
Institutional, International Equity Institutional, Equity 500 Index Premier and
Liquid Assets Institutional
Supplement dated October 1, 2000 to each Fund's current Statement of Additional
Information
The following replaces the "Management of the Trust and Portfolio - Officers of
the Trust and Portfolio Trust" section in each Fund's Statement of Additional
Information:
Officers of the Trust and Portfolio Trust
RICHARD T. HALE (birth date: July 17, 1945) President and Chief Executive
Officer of the Trust; Trustee of each of the other investment companies in the
Deutsche Asset Management Fund Complex; Managing Director, Deutsche Asset
Management; Director, Flag Investors Funds and ISI Family of Funds (registered
investment companies); President, Morgan Grenfell Investment Trust (registered
investment company); Managing Director, DB Alex. Brown LLC; Director and
President, Investment Company Capital Corp. (registered investment adviser);
Chartered Financial Analyst. His address is One South Street, Baltimore,
Maryland 21202.
DANIEL O. HIRSCH (birth date: March 27, 1954) Secretary of the Trust; Director,
Deutsche Asset Management Americas since 1999; Director, DB Alex. Brown LLC and
Investment Company Capital Corp. since July 1998; Assistant General Counsel,
Office of the General Counsel, United States Securities and Exchange Commission
from 1993 to 1998. His address is One South Street, Baltimore, Maryland 21202.
A Member of the
Deutsche Bank Group [/]
<PAGE>
CHARLES A. RIZZO (birth date: August 5, 1957) Treasurer of the Trust; Director,
Deutsche Asset Management, and Vice President and Department Head, DB Alex.
Brown LLC from 1998 to 1999; Formerly, Senior Manager, PricewaterhouseCoopers
LLP from 1993 to 1998. His address is One South Street, Baltimore, MD 21202.
Messrs. Hirsch and Rizzo also hold similar positions for other investment
companies for which ICCD, or an affiliate serves as the principal underwriter.
No person who is an officer or Trustee of Bankers Trust is an officer or Trustee
of the Trust. No Trustee, officer or employee of ICCD or any of its affiliates
will receive any compensation from the Trust for serving as an officer or
Trustee of the Trust.
The following replaces the "Custodian and Transfer Agent" section in each Fund's
Statement of Additional Information:
Bankers Trust, 130 Liberty Street, New York, New York 10006, serves as Custodian
for the Trust and the Portfolio pursuant to an administration and services
agreement. As Custodian, it holds the Fund's and Portfolio's assets. Bankers
Trust will comply with the self-custodian provisions of Rule 17f-2 under the
1940 Act.
Investment Company Capital Corp. ("ICCC"), One South Street, Baltimore,
Maryland, 21202, serves as transfer agent of the Trust and of the Portfolio
pursuant to a transfer agency agreement. Under its transfer agency agreement
with the Trust, ICCC maintains the shareholder account records for the Fund,
handles certain communications between shareholders and the Trust and causes to
be distributed any dividends and distributions payable by the Trust. ICCC may be
reimbursed by the Fund or the Portfolio for its out-of-pocket expenses.
Please Retain This Supplement for Future Reference
SUPPALLSAI (10/00)
CUSIPs:
055922108 055922207 055922306 055922405 055922660
055922652 055922769 055922843 055922868 055922819
055922827 055922835 055847404 055847834 055847206
055847107 055847818 05576L874 05576L882 05576L700
055847826 055924104 055924203 055924872 055924864
055924500 055924856 055924849 055922637
