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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000088053-98-000873.txt : 19980904
<SEC-HEADER>0000088053-98-000873.hdr.sgml : 19980904
ACCESSION NUMBER:		0000088053-98-000873
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19980903
SROS:			NONE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INVESTORS MUNICIPAL CASH FUND
		CENTRAL INDEX KEY:			0000863420
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		
		SEC FILE NUMBER:	033-34819
		FILM NUMBER:		98703849

	BUSINESS ADDRESS:	
		STREET 1:		222 SOUTH RIVERSIDE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3127811121

	MAIL ADDRESS:	
		STREET 1:		222 SOUTH RIVERSIDE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TAX EXEMPT NEW YORK MONEY MARKET FUND
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<DESCRIPTION>SUPPLEMENT TO PROSPE. - INVESTORS MUN. CASH FUND
<TEXT>

<TABLE>
<S>     <C>                                                      <C>

            CASH EQUIVALENT FUND                                    TAX-EXEMPT CALIFORNIA              
           Money Market Portfolio                                     MONEY MARKET FUND                
       Government Securities Portfolio                                                                 
            Tax-Exempt Portfolio                                    ---------------------              
                                                                                                       
            ---------------------                               INVESTORS MUNICIPAL CASH FUND          
                                                            Investors Florida Municipal Cash Fund      
            INVESTORS CASH TRUST                           Investors Michigan Municipal Cash Fund      
       Government Securities Portfolio                    Investors New Jersey Municipal Cash Fund     
             Treasury Portfolio                          Investors Pennsylvania Municipal Cash Fund    
                                                            Tax-Exempt New York Money Market Fund      
</TABLE>
                                               

The  following  supplements  the currently  effective  Prospectus of each of the
listed funds: 

On December  22,  1997,  Zurich  Insurance  Company  ("Zurich")  entered into an
agreement with B.A.T Industries p.l.c. ("B.A.T") pursuant to which the financial
services   businesses  of  B.A.T  will  be  combined  with  Zurich's  businesses
(including Zurich's 70% interest in Scudder Kemper  Investments,  Inc. ("Scudder
Kemper")) to form a new global insurance and financial services company known as
Zurich Financial Services.  After the transaction is completed, by way of a dual
holding company  structure,  current Zurich  shareholders will own approximately
57% of  the  new  organization,  with  the  balance  owned  by  B.A.T's  current
shareholders. 

The  transaction  is  expected  to  close in the  third  quarter  of 1998.  Upon
consummation of the transaction,  each Fund's  investment  management  agreement
with Scudder  Kemper will be deemed to have been assigned and,  therefore,  will
terminate.  The Board has approved new  investment  management  agreements  with
Scudder  Kemper,  which are  substantially  identical to the current  investment
management agreements,  except for the dates of execution and termination.  Each
new investment  management agreement is to become effective upon the termination
of the current investment management agreement.  The Board will seek shareholder
approval  of  the  new  investment   management   agreements   through  a  proxy
solicitation that is currently scheduled to conclude in mid-December.

September 1, 1998
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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