Insert the following paragraph in Appendix A
under the section titled "Performance of MGCM
Microcap Composite and Russell 2000."
MORGAN GRENFELL INVESTMENT TRUST
Morgan Grenfell Microcap Fund
Supplement dated May 29, 1998 to prospectus dated February 25, 1998 as revised
March 6, 1998. Performance of MGCM Microcap Composite And Russel 20000
<TABLE>
<CAPTION>
MGCM Microcap Composite Russell
Year (Net Of Fees) 2000
---- ------------- ----
<S> <C> <C>
1997 18.80% 22.36%
1996 50.67% 16.49%
1995 54.29% 28.44%
1994 (16.71)% (1.81)%
1993 18.15% 18.89%
1992 3.49% 18.42%
1991 74.37% 46.05%
1990 (2.48)% (19.50)%
1989 24.25% 16.24%
1988 14.13% 24.89%
1987 (4.91)% (8.77)%
Annualized Total Return for 18.47% 13.23%
Period from December 31, 1996
to December 31, 1997
</TABLE>