SCUDDER
INVESTMENT(SM)
[LOGO]
Scudder Select 1000 Growth
Fund
Supplement to Prospectus
Dated March 31, 1999
The following information supplements the prospectus for Scudder Select 1000
Growth Fund:
The Board of Trustees of the fund has approved, subject to shareholder approval,
a change to the fund's classification under the Investment Company Act of 1940
from "diversified" to "non-diversified." A fund that is classified as
diversified may not, with respect to 75% of its total assets, invest more than
5% of total assets in the securities of a single issuer or invest in more than
10% of the outstanding voting securities of such issuer. A non-diversified fund
is not required to comply with this provision.
Because a non-diversified fund may invest in securities of relatively few
issuers, it involves more risk than a diversified fund since any factors
affecting a given company could affect performance of the fund to a greater
degree.
Proxy materials relating to the proposed change have been mailed to the fund's
shareholders in April 2000. A Special Meeting of Shareholders to vote on the
proposed changes is expected to be held on or about July 13, 2000.
May 5, 2000
