497 1 mega-st.txt SUPPLEMENT TO SAI Supplement to the currently effective Statement of Additional Information for each of the listed funds:
---------------------------------------------- ----------------------------------------- ------------------------------------------- Scudder 21st Century Growth Fund Scudder Retirement Fund - Series IV Scudder Focus Value+Growth Portfolio Scudder Aggressive Growth Fund Scudder Retirement Fund - Series V SVS Dreman Financial Services Portfolio Scudder Blue Chip Fund Scudder Retirement Fund - Series VI SVS Dreman High Return Equity Portfolio Scudder Balanced Fund Scudder Retirement Fund - Series VII SVS Focused Large Cap Growth Portfolio Scudder California Tax-Free Income Fund Scudder Worldwide 2004 Fund SVS Growth And Income Portfolio Scudder Capital Growth Fund Scudder S&P 500 Index Fund SVS Growth Opportunities Portfolio Scudder Cash Investment Trust Scudder S&P 500 Stock Fund SVS Index 500 Portfolio Scudder Cash Reserves Fund Scudder Select 500 Fund SVS Dynamic Growth Portfolio Scudder Contrarian Fund Scudder Select 1000 Growth Fund SVS Mid Cap Growth Portfolio Scudder Development Fund Scudder Short Term Bond Fund SVS Strategic Equity Portfolio Scudder Dividend & Growth Fund Scudder Small Capitalization Equity Fund SVS Venture Value Portfolio Scudder-Dreman Financial Services Fund Scudder Small Cap Value Fund Scudder-Dreman High Return Equity Fund Scudder Small Company Stock Fund CASH ACCOUNT TRUST Scudder Emerging Markets Growth Fund Scudder Small Company Value Fund Money Market Portfolio Scudder Emerging Markets Income Fund Scudder Strategic Income Fund Government Securities Portfolio Scudder Floating Rate Fund Scudder Target 2010 Fund Tax-Exempt Portfolio Scudder Florida Tax-Free Income Fund Scudder Target 2011 Fund Scudder Focus Growth Fund Scudder Tax Free Money Fund CASH EQUIVALENT FUND Scudder Focus Value+Growth Fund Scudder Technology Fund Money Market Portfolio Scudder Global Bond Fund Scudder Technology Innovation Fund Government Securities Portfolio Scudder Global Discovery Fund Scudder Total Return Fund Tax-Exempt Portfolio Scudder Global Fund Scudder U.S. Government Securities Fund Scudder GNMA Fund Scudder U.S. Treasury Money Fund INVESTORS CASH TRUST Scudder Gold Fund The Japan Fund, Inc. Government Securities Portfolio Scudder Greater Europe Growth Fund Treasury Portfolio Scudder Growth Fund SCUDDER VARIABLE SERIES I Scudder Growth and Income Fund 21st Century Growth Portfolio INVESTORS MUNICIPAL CASH FUND Scudder Health Care Fund Balanced Portfolio Investors Florida Municipal Cash Fund Scudder High-Yield Fund Bond Portfolio Investors Michigan Municipal Cash Fund Scudder High-Yield Opportunity Fund Capital Growth Portfolio Investors New Jersey Municipal Cash Fund Scudder High-Yield Tax-Free Fund Global Discovery Portfolio Tax-Exempt New York Money Market Fund Scudder Income Fund Growth and Income Portfolio Investors Pennsylvania Municipal Cash Fund Scudder International Fund Health Sciences Portfolio Scudder International Research Fund International Portfolio TAX-EXEMPT CALIFORNIA MONEY MARKET FUND Scudder Large Company Growth Fund Money Market Portfolio Scudder Large Company Value Fund ZURICH MONEY FUNDS Scudder Latin America Fund SCUDDER VARIABLE SERIES II Zurich Money Market Fund Scudder Managed Municipal Bonds Scudder Aggressive Growth Portfolio Zurich Government Money Fund Scudder Massachusetts Tax-Free Fund Scudder Blue Chip Portfolio Zurich Tax-Free Money Fund Scudder Medium-Term Tax-Free Fund Scudder Contrarian Value Portfolio Scudder Money Market Series Scudder Global Blue Chip Portfolio ZURICH YIELDWISE FUNDS Scudder New Europe Fund Scudder Government Securities Portfolio Zurich YieldWise Money Fund Scudder New York Tax-Free Income Fund Scudder Growth Portfolio Zurich YieldWise Government Money Fund Scudder Pacific Opportunities Fund Scudder High Yield Portfolio Zurich YieldWise Municipal Money Fund Scudder Pathway Series: Conservative Portfolio Scudder International Research Portfolio Scudder Pathway Series: Growth Portfolio Scudder Investment Grade Bond Portfolio Scudder Pathway Series: Moderate Portfolio Scudder Money Market Portfolio Scudder Research Fund Scudder New Europe Portfolio Scudder Retirement Fund - Series III Scudder Small Cap Growth Portfolio Scudder Small Cap Value Portfolio Scudder Strategic Income Portfolio Scudder Technology Growth Portfolio Scudder Total Return Portfolio ---------------------------------------------- ----------------------------------------- -------------------------------------------
Effective August 6, 2001, trades will no longer be placed through Scudder Investor Services, Inc. ("SIS"). Zurich Scudder Investments, Inc. will place trades for the Funds. All reference to SIS in the Statement of Additional Information, under the "Portfolio Transactions - Brokerage Commissions" or "Portfolio Transactions - Brokerage" sections, of the above-referenced Funds should be deleted. September 28, 2001