497 1 mega.txt MEGA STICKER Supplement to the currently effective Statement of Additional Information for each of the listed funds: -------------------------------------------------------------------------------- Scudder 21st Century Growth Fund Scudder Aggressive Growth Fund Scudder Balanced Fund Scudder Blue Chip Fund Scudder Capital Growth Fund Scudder Contrarian Fund Scudder Development Fund Scudder Dividend & Growth Fund Scudder Dynamic Growth Fund Scudder Emerging Markets Growth Fund Scudder Emerging Markets Income Fund Scudder Floating Rate Fund Scudder Florida Tax-Free Income Fund Scudder Focus Value+Growth Fund Scudder Global Bond Fund Scudder Global Discovery Fund Scudder Global Fund Scudder GNMA Fund Scudder Gold and Precious Metals Fund Scudder Greater Europe Growth Fund Scudder Growth and Income Fund Scudder Growth Fund Scudder Health Care Fund Scudder High-Yield Fund Scudder High-Yield Opportunity Fund Scudder High-Yield Tax-Free Fund Scudder Income Fund Scudder International Fund Scudder International Research Fund Scudder Large Company Growth Fund Scudder Large Company Value Fund Scudder Latin America Fund Scudder Managed Municipal Bonds Scudder Massachusetts Tax-Free Fund Scudder Medium-Term Tax-Free Fund Scudder New Europe Fund, Inc. Scudder Pacific Opportunities Fund Scudder Pathway Series: Conservative Portfolio Scudder Pathway Series: Growth Portfolio Scudder Pathway Series: Moderate Portfolio Scudder S&P 500 Index Fund Scudder S&P 500 Stock Fund Scudder Select 1000 Growth Fund Scudder Select 500 Fund Scudder Short Term Bond Fund 1 Scudder Small Company Stock Fund Scudder Small Company Value Fund Scudder Strategic Income Fund Scudder Target 2012 Fund (formerly Scudder Retirement Fund--Series III) Scudder Technology Fund Scudder Technology Innovation Fund Scudder Total Return Fund Scudder U.S. Government Securities Fund Scudder-Dreman Financial Services Fund Scudder-Dreman High Return Equity Fund Scudder-Dreman Small Cap Value Fund The following supplements information in each of the Fund's Statement of Additional Information regarding the purchase and redemption of shares: Fees generally charged to IRA accounts will be charged to accounts of employees and directors. The following amends information for each Fund's Statement of Additional Information regarding the reinvestment of dividends: Dividends Dividends will be reinvested in Shares of the same class of the Fund unless shareholders indicate in writing that they wish to receive them in cash. The Fund will reinvest dividend checks (and future dividends) in shares of the same Fund and class if checks are returned as undeliverable. Dividends and other distributions of the Fund in the aggregate amount of $10 or less are automatically reinvested in shares of the Fund unless the shareholder requests that such policy not be applied to the shareholder's account. August 28, 2002 2