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<S> <C>
SCUDDER SELECT 1000 GROWTH FUND
SCUDDER LARGE COMPANY VALUE FUND SUPPLEMENT TO THE STATEMENT OF
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION DATED
ADDITIONAL INFORMATION DATED DECEMBER 1, 1999 MARCH 31, 1999
VALUE FUND - SCUDDER SHARES SCUDDER GLOBAL FUND
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION SUPPLEMENT TO THE STATEMENT OF ADDITIONAL
DATED FEBRUARY 1, 2000 INFORMATION DATED
JANUARY 1,2000
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The following text supplements the section entitled "Investment Objective and
Policies" for each Fund's Statement of Additional Information:
Real Estate Investment Trusts ("REITs"). REITs are sometimes informally
characterized as equity REITs, mortgage REITs and hybrid REITs. Investment in
REITs may subject the Fund to risks associated with the direct ownership of real
estate, such as decreases in real estate values, overbuilding, increased
competition and other risks related to local or general economic conditions,
increases in operating costs and property taxes, changes in zoning laws,
casualty or condemnation losses, possible environmental liabilities, regulatory
limitations on rent and fluctuations in rental income. Equity REITs generally
experience these risks directly through fee or leasehold interests, whereas
mortgage REITs generally experience these risks indirectly through mortgage
interests, unless the mortgage REIT forecloses on the underlying real estate.
Changes in interest rates may also affect the value of the Fund's investment in
REITs. For instance, during periods of declining interest rates, certain
mortgage REITs may hold mortgages that the mortgagors elect to prepay, which
prepayment may diminish the yield on securities issued by those REITs.
Certain REITs have relatively small market capitalizations, which may tend to
increase the volatility of the market price of their securities. Furthermore,
REITs are dependent upon specialized management skills, have limited
diversification and are, therefore, subject to risks inherent in operating and
financing a limited number of projects. REITs are also subject to heavy cash
flow dependency, defaults by borrowers and the possibility of failing to qualify
for tax-free pass-through of income under the Internal Revenue Code of 1986, as
amended, and to maintain exemption from the registration requirements of the
1940 Act. By investing in REITs indirectly through the Fund, a shareholder will
bear not only his or her proportionate share of the expenses of the Fund's, but
also, indirectly, similar expenses of the REITs. In addition, REITs depend
generally on their ability to generate cash flow to make distributions to
shareholders.
February 21, 2000
