Scudder Value Fund
Supplement to Prospectus
Dated April 16, 1998
On September 15, 1998, the Fund's Board of Trustees approved a new Investment
Management Agreement, which includes a reduced management fee payable to the
Adviser on assets in excess of $500 million. As of October 1, 1998, the complete
fee schedule for the Fund is:
Annual Investment
Average daily net assets Management fee rate
------------------------ -------------------
First $500 million 0.70 of 1%
Exceeding $500 million 0.65 of 1%
As of September 22, 1998, the Fund's net assets were approximately $472 million.
October 1, 1998
