SCUDDER [logo]
Supplement to currently effective Prospectus of each of the listed funds
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Scudder Balanced Fund Scudder Latin America Fund
Scudder California Tax Free Fund Scudder Limited Term Tax Free Fund
Scudder California Tax Free Money Fund Scudder Managed Municipal Bonds
Scudder Cash Investment Trust Scudder Massachusetts Limited Term Tax Free Fund
Scudder Classic Growth Fund Scudder Massachusetts Tax Free Fund
Scudder Development Fund Scudder Medium Term Tax Free Fund
Scudder Dividend & Growth Fund Scudder Micro Cap Fund
Scudder Emerging Markets Growth Fund Scudder New York Tax Free Fund
Scudder Emerging Markets Income Fund Scudder New York Tax Free Money Fund
Scudder Financial Services Fund Scudder Ohio Tax Free Fund
Scudder Global Bond Fund Scudder Pacific Opportunities Fund
Scudder Global Discovery Fund Scudder Pathway Series:
Scudder Global Fund Balanced Portfolio
Scudder GNMA Fund Conservative Portfolio
Scudder Gold Fund Growth Portfolio
Scudder Greater Europe Growth Fund International Portfolio
Scudder Growth and Income Fund Scudder Pennsylvania Tax Free Fund
Scudder Health Care Fund Scudder Real Estate Investment Fund
Scudder High Yield Bond Fund Scudder S&P 500 Index Fund
Scudder High Yield Tax Free Fund Scudder Short Term Bond Fund
Scudder Income Fund Scudder Small Company Value Fund
Scudder International Bond Fund Scudder Tax Free Money Fund
Scudder International Fund Scudder Technology Fund
Scudder International Growth Fund Scudder U.S. Treasury Money Fund
Scudder International Growth and Income Fund Scudder Value Fund
Scudder International Value Fund Scudder Zero Coupon 2000 Fund
Scudder Large Company Growth Fund Scudder 21st Century Growth Fund
Scudder Large Company Value Fund
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The following replaces the section entitled "Minimum balances" under the
"Transaction Information" section of each Fund's prospectus:
Minimum balances
Shareholders should maintain a share balance worth at least $2,500, which amount
may be changed by the Board of Directors/Trustees. A shareholder may open an
account with at least $1,000, if an automatic investment plan of $100/month is
established. Scudder retirement plans and certain other accounts have similar or
lower minimum share balance requirements.
The Fund reserves the right, following 60 days' written notice to applicable
shareholders, to:
o assess an annual $10 per fund charge(with the fee to be paid to the fund)
for any non-fiduciary account without an automatic investment plan in place
and a balance of less than $2,500; and
o redeem all shares in fund accounts below $1,000 where a reduction in value
has occurred due to a redemption, exchange or transfer out of the account.
The Fund will mail the proceeds of the redeemed account to the shareholder.
Reductions in value that result solely from market activity will not trigger an
involuntary redemption. Shareholders with a combined household account balance
in any of the Scudder Funds of $100,000 or more, as well as group retirement and
certain other accounts will not be subject to a fee or automatic redemption.
Fiduciary and custodial accounts with balances below $100 are subject to
automatic redemption following 60 days' written notice to applicable
shareholders.
Please refer to "Exchanges and Redemptions -- Other Information" in the Fund's
Statement of Additional Information for more information.
September 18, 1998
