KEMPER EQUITY FUNDS/GROWTH STYLE
Kemper Small Capitalization Equity Fund
Kemper Value+Growth Fund
SUPPLEMENT TO THE CURRENTLY EFFECTIVE
PROSPECTUS DATED FEBRUARY 1, 1999
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The following disclosure replaces the first paragraph in the "Principal
strategies and investments" section on page 26 of the prospectus:
Under normal market conditions, the fund invests at least 65% of its total
assets in small capitalization stocks similar in size to those comprising the
Russell 2000 Index. The fund sells securities of companies that have grown in
market capitalization above the maximum of the Russell 2000 Index, as necessary
to keep focused on smaller companies.
The following disclosure supplements the relevant language in the "Investment
Manager" section of the prospectus:
Robert D. Tymoczko is the Lead Portfolio Manager for the Kemper Value+Growth
Fund. Mr. Tymoczko joined Scudder Kemper in 1997 as a quantitative research
analyst and is a Vice President. He began his investment career in 1996. Prior
to joining Scudder Kemper he worked as an economic consultant specializing in
quantitative research and econometric consulting.
April 21, 1999
(over please)
