Exhibit (b)(2)

                              AMENDMENT TO BY-LAWS
                             SCUDDER INVESTORS TRUST

                                November 20, 2002
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RESOLVED, that Article VI, Section 6 of the Fund's By-Laws shall be amended to
read as follows (additions are underlined, and deletions are struckout):

Section 6. Powers and Duties of the President. The President shall be the chief
executive officer of the Trust. The President, in the absence of the Chairperson
and Vice Chairperson, if any, may call meetings of the Trustees and of any
Committee thereof when he/she deems it necessary and, in the absence of the
Chairperson and Vice-Chairperson, if any, may preside at all meetings of the
Shareholders and at all meetings of the Trustees. Subject to the control of the
Trustees and to the control of any Committees of the Trustees, within their
respective spheres, as provided by the Trustees, he/she shall at all times
exercise a general supervision and direction over the affairs of the Trust.
He/She shall have the power to employ attorneys and counsel for the Trust and to
employ such subordinate officers, agents, clerks and employees as he/she may
find necessary to transact the business of the Trust. He/She shall also have the
power to grant, issue, execute or sign such powers of attorney, proxies or other
documents as may be deemed advisable or necessary in furtherance of the
interests of the Trust. The President shall have such other powers and duties,
as from time to time may be conferred upon or assigned to him/her by the
Trustees.