Supplement to each currently effective Statement of Additional Information
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<S> <C>
Scudder 21st Century Growth Fund Scudder Large Company Growth Fund
Scudder Balanced Fund Scudder Large Company Value Fund
Scudder California Tax Free Fund Scudder Latin America Fund
Scudder Capital Growth Fund Scudder Managed Municipal Bonds
Scudder Cash Investment Trust Scudder Massachusetts Tax Free Fund
Classic Growth Fund- Scudder Shares Scudder Medium Term Tax Free Fund
Scudder Development Fund Scudder Money Market Series
Scudder Dividend and Growth Fund Scudder New York Tax Free Fund
Scudder Emerging Markets Growth Fund Scudder Pacific Opportunities Fund
Scudder Emerging Markets Income Fund Scudder Pathway Series: Balanced Portfolio
Scudder Global Bond Fund Scudder Pathway Series: Conservative Portfolio
Global Discovery Fund - Scudder Shares Scudder Pathway Series: Growth Portfolio
Scudder Global Fund Scudder S&P 500 Index Fund
Scudder GNMA Fund Scudder Select 1000 Growth Fund
Scudder Gold Fund Scudder Select 500 Fund
Scudder Greater Europe Growth Fund Scudder Short Term Bond Fund
Scudder Growth and Income Fund Scudder Small Company Stock Fund
Scudder Health Care Fund Scudder Small Company Value Fund
Scudder High Yield Bond Fund Scudder Tax Free Money Fund
Scudder High Yield Tax Free Fund Scudder Technology Fund
Scudder Income Fund Scudder U.S. Treasury Money Fund
Scudder International Fund Value Fund - Scudder Shares
</TABLE>
The following information supplements the disclosure in the "Investment Adviser"
section of each Statement of Additional Information for each Fund:
On October 17, 2000, the dual holding company structure of Zurich Financial
Services Group, comprised of Allied Zurich p.l.c. in the United Kingdom and
Zurich Allied A.G. in Switzerland, was unified into a single Swiss holding
company, Zurich Financial Services.
October 30, 2000
