KEMPER CLASSIC GROWTH FUND
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KEMPER GLOBAL DISCOVERY FUND
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KEMPER VALUE FUND
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The following supplements the currently effective Prospectus of each of the
listed funds:
On September 7, 1998, the businesses of Zurich Insurance Company ("Zurich")
(including Zurich's 70% interest in Scudder Kemper) and the financial services
businesses of B.A.T Industries p.l.c. ("B.A.T") were combined to form a new
global insurance and financial services company known as Zurich Financial
Services. By way of a dual holding company structure, former Zurich shareholders
initially owned approximately 57% of Zurich Financial Services, with the balance
initially owned by former B.A.T shareholders.
Upon consummation of this transaction, each Fund's existing investment
management agreement with Scudder Kemper was deemed to have been assigned and,
therefore, terminated. The Board has approved new investment management
agreements with Scudder Kemper, which are substantially identical to the current
investment management agreements, except for the dates of execution and
termination. These agreements became effective upon the termination of the then
current investment management agreements and will be submitted for shareholder
approval at special meetings currently scheduled to conclude in December 1998.
The following supplements information in the section entitled "Investment
Manager and Underwriter" for the currently effective Prospectus of Kemper
Classic Growth Fund:
Effective September 10, 1998, the positions of William F. Gadsden and Bruce F.
Beaty are Co-Lead Portfolio Managers for the Fund.
September 15, 1998
