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Supplement to currently effective Prospectus of each of the listed funds
Scudder Growth and Income Fund
Scudder Dividend & Growth Fund
The following supplements information found in the "Investment objectives and
policies" section of each Fund's prospectus:
The Fund may also invest in Standard & Poor's Depository Receipts ("SPDRs").
SPDRs typically trade like a share of common stock and provide investment
results that generally correspond to the price and yield performance of the
component common stocks of the S&P 500 Index.
The following supplements information found in the "Fund Organization" section
of each Fund's prospectus:
Euro Conversion
The planned introduction of a new European currency, the Euro, may result in
uncertainties for European securities in the markets in which they trade and
with respect to the operation of each Fund. Currently, the Euro is expected to
be introduced on January 1, 1999 by eleven European countries that are members
of the European Economic and Monetary Union (EMU). The introduction of the Euro
will require the redenomination of European debt and equity securities over a
period of time, which may result in various accounting differences and/or tax
treatments that otherwise would not likely occur. Additional questions are
raised by the fact that certain other EMU members, including the United Kingdom,
will not officially be implementing the Euro on January 1, 1999. If the
introduction of the Euro does not take place as planned, there could be negative
effects, such as severe currency fluctuations and market disruptions.
Scudder Kemper Investments, Inc., the Fund's Adviser, is actively working to
address Euro-related issues and understands that other key service providers are
taking similar steps. At this time, however, no one knows precisely what the
degree of impact will be. To the extent that the market impact or effect on a
portfolio holding is negative, it could hurt the portfolio's performance.
December 18, 1998
