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SIGNATURE THOMAS F. MCDONOUGH
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Cash Investment Trust Annual Report for the fiscal year ended 6/30/98 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> Scudder Cash Investment Trust
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,163,968,799
<INVESTMENTS-AT-VALUE> 1,163,549,246
<RECEIVABLES> 20,412,794
<ASSETS-OTHER> 4,049,628
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,188,011,668
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,999,101
<TOTAL-LIABILITIES> 5,999,101
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,182,908,684
<SHARES-COMMON-STOCK> 1,182,186,355
<SHARES-COMMON-PRIOR> 1,430,702,947
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (476,564)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (419,553)
<NET-ASSETS> 1,182,012,567
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 70,992,254
<OTHER-INCOME> 0
<EXPENSES-NET> 10,649,922
<NET-INVESTMENT-INCOME> 60,342,332
<REALIZED-GAINS-CURRENT> (17,463)
<APPREC-INCREASE-CURRENT> (94,354)
<NET-CHANGE-FROM-OPS> 60,230,515
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (60,342,332)
<DISTRIBUTIONS-OF-GAINS> 17,463
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,976,992,857
<NUMBER-OF-SHARES-REDEEMED> (2,282,283,079)
<SHARES-REINVESTED> 56,773,630
<NET-CHANGE-IN-ASSETS> (248,610,950)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,260,517
<INTEREST-EXPENSE> 203
<GROSS-EXPENSE> 11,939,588
<AVERAGE-NET-ASSETS> 1,252,930,458
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.05)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Trustees of Scudder Cash Investment Trust:
In planning and performing our audit of the financial statements and
financial highlights (hereinafter referred to as "financial statements") of
Scudder Cash Investment Trust for the year ended June 30, 1998, we considered
its internal control, including control activities for safeguarding securities,
in order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and financial highlights and to comply with
the requirements of Form N-SAR, not to provide assurance on internal control.
The management of Scudder Cash Investment Trust is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of preparing financial
statements and financial highlights for external purposes that are fairly
presented in conformity with generally accepted accounting principles. Those
controls include the safeguarding of assets against unauthorized acquisition,
use, or disposition.
Because of inherent limitations in internal control, error or fraud may
occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements and financial highlights being
audited may occur and not be detected within a timely period by employees in the
normal course of performing their assigned functions. However, we noted no
matters involving internal control and its operation, including controls over
safeguarding securities, that we consider to be material weaknesses as defined
above as of June 30, 1998.
This report is intended solely for the information and use of management,
the Board of Trustees of Scudder Cash Investment Trust and the Securities and
Exchange Commission.
Boston, Massachusetts PricewaterhouseCoopers LLP
July 27, 1998
