Supplement to the currently effective Statements of Additional Information of
each of the listed funds/portfolios:

Cash Account Trust
    Tax-Exempt Portfolio
DWS High Yield Tax Free Fund
DWS Intermediate Tax/AMT Free Fund
DWS Managed Municipal Bond Fund
DWS Short-Term Municipal Bond Fund
Tax Free Money Fund Investment


The following information supplements the "Taxes" or "Federal Income Taxes"
section of each Fund's/Portfolio's Statements of Additional Information:

The U.S. Supreme Court has agreed to hear an appeal of a state-court decision
that might significantly affect how states tax in-state and out-of-state
municipal bonds. A Kentucky state court held that a Kentucky law violates the
U.S. Constitution by treating, for Kentucky state tax purposes, the interest
income on in-state municipal bonds differently from the income on out-of-state
municipal bonds. If the U.S. Supreme Court affirms this holding, each state will
likely revisit the way in which it treats the interest on municipal bonds, and,
depending on how each state decides, this has the potential to increase
significantly the amount of state tax paid by shareholders on exempt-interest
dividends and possibly affect the value of the bonds. The U.S. Supreme Court
likely will hold oral arguments on this case in the fall of 2007 and issue a
decision sometime thereafter. You should consult your tax advisor to discuss the
tax consequences of your investment in the fund.





               Please Retain This Supplement for Future Reference




June 21, 2007


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