497 1 sp013007mega.txt PROSPECTUS STICKER SUPPLEMENT TO THE CURRENTLY EFFECTIVE PROSPECTUS OF EACH OF THE LISTED FUNDS: ------------------- CLASSES A, B AND C DWS Balanced Fund DWS Europe Equity Fund DWS Mid Cap Growth Fund DWS Blue Chip Fund DWS Global Bond Fund DWS Moderate Allocation DWS California Tax-Free DWS Global Opportunities Fund Income Fund Fund DWS Money Market Prime DWS Capital Growth Fund DWS Global Thematic Fund Series DWS Cash Investment Trust DWS Gold & Precious DWS New York Tax-Free DWS Commodity Securities Metals Fund Income Fund Fund DWS Growth & Income Fund DWS Pacific Opportunities DWS Communications Fund DWS Growth Allocation Fund Equity Fund DWS Conservative DWS Growth Plus DWS RREEF Global Real Allocation Fund Allocation Fund Estate Securities Fund DWS Core Fixed Income Fund DWS Health Care Fund DWS RREEF Real Estate DWS Core Plus Allocation DWS High Income Fund Securities Fund Fund DWS High Income Plus Fund DWS S&P 500 Index Fund DWS Core Plus Income Fund DWS High Yield Tax Free DWS Short Duration Fund DWS Disciplined Long/Short Fund DWS Short Duration Plus Growth Fund DWS Inflation Protected Fund DWS Disciplined Long/Short Plus Fund DWS Short Term Bond Fund Value Fund DWS Intermediate Tax/AMT DWS Short-Term Municipal DWS Disciplined Market Free Fund Bond Fund Neutral Fund DWS International Equity DWS Small Cap Core Fund DWS Dreman Concentrated Fund DWS Small Cap Growth Fund Value Fund DWS International Fund DWS Small Cap Value Fund DWS Dreman High Return DWS International Select DWS Strategic Income Fund Equity Fund Equity Fund DWS Target 2008 Fund DWS Dreman Mid Cap Value DWS International Value DWS Target 2010 Fund Fund Opportunities Fund DWS Target 2011 Fund DWS Dreman Small Cap Value DWS Japan Equity Fund DWS Target 2012 Fund Fund DWS Large Cap Value Fund DWS Target 2013 Fund DWS Emerging Markets DWS Large Company Growth DWS Target 2014 Fund Equity Fund Fund DWS Technology Fund DWS Emerging Markets Fixed DWS Latin America Equity DWS U.S. Government Income Fund Fund Securities Fund DWS Enhanced S&P 500 Index DWS Managed Municipal DWS Value Builder Fund Fund Bond Fund DWS Equity Income Fund DWS Massachusetts DWS Equity Partners Fund Tax-Free Fund DWS Micro Cap Fund -------------------------------------------------------------------------------- The following replaces similar disclosure under the "How to Buy Shares" section of the prospectus for each fund (except for DWS Target 2008 Fund, DWS Target 2010 Fund, DWS Target 2011 Fund, DWS Target 2012 Fund, DWS Target 2013 Fund and DWS Target 2014 Fund):
------------------------------------------------------------------------------------------------------------------------------------ First investment Additional investments ------------------------------------------------------------------------------------------------------------------------------------ $1,000 or more for regular accounts $50 or more for regular accounts and IRA accounts $500 or more for IRAs $50 or more with an Automatic Investment Plan $500 or more with an Automatic Investment Plan ------------------------------------------------------------------------------------------------------------------------------------
[Logo]DWS SCUDDER Deutsche Bank Group January 30, 2007 DMF-3624 The following replaces similar disclosure under "Initial Purchase" in the "Policies You Should Know About" section of the prospectus for each fund (except for DWS Target 2008 Fund, DWS Target 2010 Fund, DWS Target 2011 Fund, DWS Target 2012 Fund, DWS Target 2013 Fund and DWS Target 2014 Fund): The minimum initial investment for Class A, B and C shares is $1,000, except for investments on behalf of participants in certain fee-based and wrap programs offered through certain financial intermediaries approved by the Advisor, for which there is no minimum initial investment; and IRAs, for which the minimum initial investment is $500 per account. The minimum initial investment is $500 per account if you establish an automatic investment plan. Group retirement plans and certain other accounts have similar or lower minimum share balance requirements. The following replaces similar disclosure under "Other rights we reserve" in the "Policies You Should Know About" section of each fund's prospectus: o close your account and send you the proceeds if your balance falls below $1,000 ($250 for retirement accounts and $500 for accounts with an Automatic Investment Plan funded with $50 or more per month in subsequent investments); we will give you 60 days' notice (90 days for retirement accounts) so you can either increase your balance or close your account (these policies don't apply to investors with $100,000 or more in DWS fund shares, investors in certain fee-based and wrap programs offered through certain financial intermediaries approved by the advisor, or group retirement plans and certain other accounts having lower minimum share balance requirements). Please Retain This Supplement for Future Reference January 30, 2007 DMF-3624 SUPPLEMENT TO THE CURRENTLY EFFECTIVE PROSPECTUS OF EACH OF THE LISTED FUNDS: ------------------- CLASS S DWS Balanced Fund DWS Global Bond Fund DWS Massachusetts DWS Blue Chip Fund DWS Global Opportunities Tax-Free Fund DWS California Tax-Free Fund DWS Micro Cap Fund Income Fund DWS Global Thematic Fund DWS Mid Cap Growth Fund DWS Capital Growth Fund DWS GNMA Fund DWS Moderate Allocation DWS Cash Investment Trust DWS Gold & Precious Fund DWS Commodity Securities Metals Fund DWS Money Market Prime Fund DWS Growth & Income Fund Series DWS Conservative DWS Growth Allocation Fund DWS New York Tax-Free Allocation Fund DWS Growth Plus Income Fund DWS Core Fixed Income Fund Allocation Fund DWS Pacific Opportunities DWS Core Plus Allocation DWS Health Care Fund Equity Fund Fund DWS High Income Plus Fund DWS RREEF Global Real DWS Core Plus Income Fund DWS High Yield Tax Free Estate Securities Fund DWS Disciplined Long/Short Fund DWS RREEF Real Estate Growth Fund DWS Inflation Protected Securities Fund DWS Disciplined Long/Short Plus Fund DWS S&P 500 Index Fund Value Fund DWS Intermediate Tax/AMT DWS Short Duration Fund DWS Disciplined Market Free Fund DWS Short Duration Plus Neutral Fund DWS International Fund Fund DWS Dreman High Return DWS International Equity DWS Short Term Bond Fund Equity Fund Fund DWS Short-Term Municipal DWS Dreman Mid Cap Value DWS International Select Bond Fund Fund Equity Fund DWS Small Cap Core Fund DWS Dreman Small Cap Value DWS International Value DWS Small Cap Growth Fund Fund Opportunities Fund DWS Small Cap Value Fund DWS Emerging Markets DWS Japan Equity Fund DWS Strategic Income Fund Equity Fund DWS Large Cap Value Fund DWS Tax Free Money Fund DWS Emerging Markets Fixed DWS Large Company Growth DWS Technology Fund Income Fund Fund DWS U.S. Government DWS Enhanced S&P 500 Index DWS Latin America Equity Securities Fund Fund Fund DWS U.S. Treasury Money DWS Equity Income Fund DWS Lifecycle Long Range Fund DWS Equity 500 Index Fund Fund DWS Europe Equity Fund DWS Managed Municipal Bond Fund -------------------------------------------------------------------------------- The following replaces similar disclosure under "Initial Purchase" in the "Policies You Should Know About" section of the prospectus for each fund: The minimum initial investment is $2,500, except for investments on behalf of participants in certain fee-based and wrap programs offered through certain financial intermediaries approved by the Advisor, for which there is no minimum initial investment; and fiduciary accounts such as IRAs and custodial accounts such as Uniform Gifts to Minors Act and Uniform Transfers to Minors Act accounts for which the minimum initial investment is $1,000 per account. In addition, the minimum initial investment is $1,000 if an automatic investment plan of $50 per month is established. Group retirement plans and certain other accounts have similar or lower minimum share balance requirements. The following replaces similar disclosure under "Other rights we reserve" in the "Policies You Should Know About" section of the Class S prospectus for each fund: o close your account and send you the proceeds if your balance falls below $2,500 ($1,000 with an Automatic Investment Plan funded with $50 or more per month in subsequent investments); $250 for retirement accounts; we will give you 60 days' notice (90 days for retirement accounts) so you can either increase your balance or close your account (these policies don't apply to investors with $100,000 or more in DWS fund shares, investors in certain fee-based and wrap programs offered through certain financial intermediaries approved by the advisor, or group retirement plans and certain other accounts having lower minimum share balance requirements). Please Retain This Supplement for Future Reference [Logo]DWS SCUDDER Deutsche Bank Group January 30, 2007 PSMEGA-3603