Scudder Blue Chip Fund                                  Scudder Large Cap Value Fund
Scudder California Tax-Free Income Fund                 Scudder Large Company Growth Fund
Scudder Capital Growth Fund                             Scudder Latin America Fund
Scudder Cash Investment Trust                           Scudder Limited-Duration Plus Fund
Scudder Commodity Securities Fund                       Scudder Managed Municipal Bond Fund
Scudder-Dreman Concentrated Value Fund                  Scudder Massachusetts Tax-Free Fund
Scudder-Dreman Financial Services Fund                  Scudder Micro Cap Fund
Scudder-Dreman High Return Equity Fund                  Scudder Mid Cap Growth Fund
Scudder-Dreman Mid Cap Value Fund                       Scudder New York Tax-Free Income Fund
Scudder-Dreman Small Cap Value Fund                     Scudder Pacific Opportunities Fund
Scudder Emerging Markets Fund                           Scudder Pathway Series -- Conservative
Scudder Emerging Markets Income Fund                    Portfolio
Scudder Fixed Income Fund                               Scudder Pathway Series -- Growth Portfolio
Scudder Flag Investors Communications Fund              Scudder Pathway Series -- Growth Plus
Scudder Flag Investors Equity Partners Fund             Portfolio
Scudder Flag Investors Value Builder Fund               Scudder Pathway Series -- Moderate Portfolio
Scudder Global Fund                                     Scudder RREEF Real Estate Securities Fund
Scudder Global Bond Fund                                Scudder S&P 500 Index Fund
Scudder Global Discovery Fund                           Scudder Select 500 Fund
Scudder Gold and Precious Metals Fund                   Scudder Short Duration Fund
Scudder Greater Europe Fund                             Scudder Short-Term Bond Fund
Scudder Growth and Income Fund                          Scudder Short-Term Municipal Bond Fund
Scudder Health Care Fund                                Scudder Small Cap Growth Fund
Scudder High Income Fund                                Scudder Small Company Stock Fund
Scudder High Income Plus Fund                           Scudder Small Company Value Fund
Scudder High Yield Tax-Free Fund                        Scudder Strategic Income Fund
Scudder Income Fund                                     Scudder Target 2014 Fund
Scudder Inflation Protected Plus Fund                   Scudder Tax Advantaged Dividend Fund
Scudder Intermediate Tax/AMT Free Fund                  Scudder Technology Fund
Scudder International Fund                              Scudder Total Return Fund
Scudder International Equity Fund                       Scudder U.S. Government Securities Fund
Scudder International Select Equity Fund
Scudder Japanese Equity Fund



Supplement to the currently effective  Statements of Additional  Information for
Class A, B and C shares, as applicable, of the above listed Funds:

The following information replaces similar disclosure relating to the Rule 12b-1
Plans:

Effective   January  1,  2006,  SDI  will  no  longer  advance  the  first  year
distribution  fee and  service  fee to firms  for  sales  of  Class C shares  to
employer sponsored  employee benefit plans using the OmniPlus  subaccount record
keeping system made  available  through ADP, Inc. under an alliance with SDI and
its affiliates.

The following  information  replaces similar  disclosure in the section entitled
"Financial  Services  Firms'  Compensation"  under  "Purchase and  Redemption of
Shares -- Purchases" effective January 1, 2006:

SDI  compensates  firms  for  sales of  Class B shares  at the time of sale at a
commission rate of up to 3.75% of the amount of Class B shares purchased. SDI is
compensated  by the Fund for services as distributor  and principal  underwriter
for Class B shares.  Except as provided below, for sales of Class C shares,  SDI
advances  to firms the  first  year  distribution  fee at a rate of 0.75% of the
purchase  price of such  shares,  and,  for periods  after the first  year,  SDI
currently  pays firms for sales of Class C shares a  distribution  fee,  payable
quarterly,  at an annual  rate of 0.75% of net  assets  attributable  to Class C
shares  maintained  and  serviced  by the  firm.  For sales of Class C shares to
employer sponsored  employee benefit plans using the OmniPlus  subaccount record
keeping system made  available  through ADP, Inc. under an alliance with SDI and
its  affiliates,  SDI does not advance the first year  distribution  fee and for
periods after the date of sale,



SDI currently pays firms a distribution  fee,  payable  quarterly,  at an annual
rate of 0.75%  based on net  assets  as of the last  business  day of the  month
attributable  to Class C shares  maintained  and  serviced  by the firm.  SDI is
compensated  by the Fund for services as distributor  and principal  underwriter
for Class C shares.

The  following  information  replaces the section  entitled  "Class A NAV Sales"
under "Purchase and Redemption of Shares - Purchases":

Class A NAV Sales. Class A shares may be sold at net asset value to:

(a)      a current or former  director or trustee of Deutsche or Scudder  mutual
         funds;

(b)      an  employee  (including  the  employee's  spouse or life  partner  and
         children or  stepchildren  age 21 or  younger) of Deutsche  Bank or its
         affiliates  or of a  subadvisor  to any fund in the  Scudder  family of
         funds or of a  broker-dealer  authorized  to sell shares of the Fund or
         service agents of the Funds;

(c)      certain  professionals  who assist in the  promotion of Scudder  mutual
         funds pursuant to personal services  contracts with SDI, for themselves
         or members of their  families.  SDI in its  discretion  may  compensate
         financial  services  firms  for  sales  of Class A  shares  under  this
         privilege at a commission rate of 0.50% of the amount of Class A shares
         purchased;

(d)      any trust, pension,  profit-sharing or other benefit plan for only such
         persons listed under the preceding paragraphs (a) and (b);

(e)      persons who purchase such shares  through bank trust  departments  that
         process  such  trades  through an  automated,  integrated  mutual  fund
         clearing program provided by a third party clearing firm;

(f)      selected  employees  (including  their  spouses  or life  partners  and
         children  or  stepchildren  age  21 or  younger)  of  banks  and  other
         financial services firms that provide  administrative  services related
         to order placement and payment to facilitate  transactions in shares of
         the Fund for their clients  pursuant to an agreement with SDI or one of
         its affiliates.  Only those employees of such banks and other firms who
         as part of their usual duties provide  services related to transactions
         in Fund shares qualify;

(g)      unit  investment  trusts  sponsored  by Ranson &  Associates,  Inc. and
         unitholders of unit investment trusts sponsored by Ranson & Associates,
         Inc. or its predecessors through reinvestment programs described in the
         prospectuses of such trusts that have such programs;

(h)      through certain  investment  advisors  registered  under the Investment
         Advisers Act of 1940 and other  financial  services firms acting solely
         as  agent  for  their  clients,   that  adhere  to  certain   standards
         established  by SDI,  including a requirement  that such shares be sold
         for  the  benefit  of  their  clients  participating  in an  investment
         advisory program or agency commission  program under which such clients
         pay a fee to  the  investment  advisor  or  other  firm  for  portfolio
         management  or agency  brokerage  services.  Such  shares  are sold for
         investment  purposes and on the condition  that they will not be resold
         except through redemption or repurchase by the Fund;

(i)      employer  sponsored  employee  benefit plans using the Flex  subaccount
         recordkeeping system ("Flex Plans") made available through ADP under an
         alliance with SDI and its affiliates,  established  prior to October 1,
         2003, provided that the Flex Plan is a  participant-directed  plan that
         has not less than 200 eligible employees;

(j)      investors investing $1 million or more, either as a lump sum or through
         the "Combined  Purchases," "Letter of Intent" and "Cumulative Discount"
         features referred to above (collectively, the "Large Order NAV Purchase
         Privilege"). The Large Order NAV Purchase Privilege is not available if
         another net asset value purchase privilege is available;



(k)      in  connection  with the  acquisition  of the  assets  of or  merger or
         consolidation  with another investment  company,  or to shareholders in
         connection  with the investment or  reinvestment  of income and capital
         gain dividends, and under other circumstances deemed appropriate by SDI
         and consistent with regulatory requirements; and

(l)      in connection  with a direct "roll over" of a distribution  from a Flex
         Plan or from participants in employer  sponsored employee benefit plans
         maintained  on the  OmniPlus  subaccount  record  keeping  system  made
         available  through  ADP,  Inc.  under  an  alliance  with  SDI  and its
         affiliates into a Scudder IRA.

Class A shares also may be purchased at net asset value in any amount by members
of the plaintiff class in the proceeding known as Howard and Audrey Tabankin, et
al. v. Kemper  Short-Term  Global  Income Fund, et al., Case No. 93 C 5231 (N.D.
IL). This privilege is generally non-transferable and continues for the lifetime
of individual class members and for a ten-year period for  non-individual  class
members.  To make a  purchase  at net asset  value  under  this  privilege,  the
investor  must,  at the time of  purchase,  submit a  written  request  that the
purchase be processed at net asset value pursuant to this privilege specifically
identifying the purchaser as a member of the "Tabankin  Class." Shares purchased
under this privilege will be maintained in a separate account that includes only
shares  purchased  under  this  privilege.  For  more  details  concerning  this
privilege,  class members should refer to the Notice of (i) Proposed  Settlement
with Defendants;  and (ii) Hearing to Determine Fairness of Proposed Settlement,
dated  August 31,  1995,  issued in  connection  with the  aforementioned  court
proceeding.  For  sales of Fund  shares  at net  asset  value  pursuant  to this
privilege,  SDI may in its discretion pay investment dealers and other financial
services firms a concession, payable quarterly, at an annual rate of up to 0.25%
of net assets attributable to such shares maintained and serviced by the firm. A
firm  becomes  eligible  for  the  concession  based  upon  assets  in  accounts
attributable  to shares  purchased  under this  privilege in the month after the
month of purchase and the  concession  continues  until  terminated  by SDI. The
privilege of purchasing Class A shares of the Fund at net asset value under this
privilege is not available if another net asset value  purchase  privilege  also
applies.









               Please Retain This Supplement for Future Reference










December 13, 2005