Supplement to the currently effective Statement of Additional Information of
each of the listed funds:

                                                      
         Scudder Large Cap Value Fund                       Scudder Growth Fund
         Scudder-Dreman High Return Equity Fund             Scudder Total Return Fund
         Scudder Focus Value+Growth Fund                    Scudder Target 2012 Fund
         Scudder Blue Chip Fund                             Scudder Technology Fund
         Scudder Worldwide 2004 Fund                        Scudder Target 2010 Fund
         Scudder Retirement Fund - Series VI                Scudder Retirement Fund - Series V
         Scudder S&P 500 Stock Fund                         Scudder Retirement Fund - Series VII
         Scudder-Dreman Financial Services Fund             Scudder Aggressive Growth Fund
         Scudder Target 2011 Fund                           Scudder Target 2013 Fund




The following  information  supplements  or replaces  related  disclosure in the
"Investment  Policies  and  Techniques"  section  of each  fund's  Statement  of
Additional Information:

Lending of Portfolio Securities.  The Fund may lend its investment securities to
approved  institutional  borrowers  who need to  borrow  securities  in order to
complete certain  transactions,  such as covering short sales, avoiding failures
to deliver  securities  or  completing  arbitrage  operations.  By  lending  its
investment  securities,  the Fund attempts to increase its net investment income
through  the  receipt of  interest  on the loan.  Any gain or loss in the market
price of the  securities  loaned  that might  occur  during the term of the loan
would belong to the Fund. The Fund may lend its investment securities so long as
the terms, structure and the aggregate amount of such loans are not inconsistent
with the 1940 Act or the rules and  regulations  or  interpretations  of the SEC
thereunder,  which  currently  require that (a) the borrower pledge and maintain
with the Fund  collateral  consisting  of liquid,  unencumbered  assets having a
value at all times not less than 100% of the value of the securities loaned, (b)
the borrower add to such collateral  whenever the price of the securities loaned
rises (i.e., the borrower "marks to the market" on a daily basis),  (c) the loan
be made  subject  to  termination  by the  Fund at any  time,  and (d) the  Fund
receives  reasonable  interest on the loan (which may include the Fund investing
any  cash  collateral  in  interest   bearing   short-term   investments),   and
distributions  on the loaned  securities and any increase in their market value.
There may be risks of delay in recovery of the securities or even loss of rights
in the  collateral  should the  borrower  of the  securities  fail  financially.
However,  loans will be made only to borrowers  selected by the Fund's  delegate
after a  commercially  reasonable  review of relevant  facts and  circumstances,
including the creditworthiness of the borrower.

At the  present  time,  the staff of the SEC does not  object  if an  investment
company pays reasonable negotiated fees in connection with loaned securities, so
long as such  fees are set  forth in a  written  contract  and  approved  by the
investment company's Board of Trustees/Directors. In addition, voting rights may
pass with the loaned  securities,  but if a material  event occurs  affecting an
investment on loan, the loan must be called and the securities  voted.  Pursuant
to an exemptive order granted by the SEC, cash  collateral  received by the Fund
may be  invested in a money  market  fund  managed by the Advisor (or one of its
affiliates).

The  following  replaces  the  non-fundamental  investment  policy  of each fund
relating to securities lending:

As a matter of  non-fundamental  policy,  the Fund  currently does not intend to
lend portfolio securities in an amount greater than 33 1/3% of its total assets.





May 28, 2004