497 1 ss100104mega.txt SAI MEGA STICKER
Scudder 21st Century Growth Fund Scudder International Select Equity Fund Scudder Aggressive Growth Fund Scudder Japanese Equity Fund 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 Large Company Value Fund Scudder-Dreman Financial Services Fund Scudder Latin America Fund Scudder-Dreman High Return Equity Fund Scudder Managed Municipal Bond Fund Scudder-Dreman Small Cap Value Fund Scudder Massachusetts Tax-Free Fund Scudder Dynamic Growth Fund Scudder Micro Cap Fund Scudder Emerging Markets Growth Fund Scudder Mid Cap Fund Scudder Emerging Markets Income Fund Scudder New Europe Fund Scudder European Equity Fund Scudder New York Tax-Free Income Fund Scudder Fixed Income Fund Scudder Pacific Opportunities Fund Scudder Flag InvestorsCommunications Fund Scudder Pathway Series -- Conservative Portfolio Scudder Flag Investors Equity Partners Fund Scudder Pathway Series -- Growth Portfolio Scudder Flag Investors Value Builder Fund Scudder Pathway Series -- Moderate Portfolio Scudder Florida Tax-Free Income Fund Scudder PreservationPlus Income Fund Scudder Focus Value + Growth Fund Scudder RREEF Real Estate Securities Fund Scudder Global Fund Scudder S&P 500 Stock Fund Scudder Global Biotechnology Fund Scudder Select 500 Fund Scudder Global Bond Fund Scudder Short Duration Fund Scudder Global Discovery Fund Scudder Short-Term Bond Fund Scudder Gold and Precious Metals Fund Scudder Short-Term Municipal Bond Fund Scudder Greater Europe Growth Fund Scudder Small Cap Growth Fund Scudder Growth Fund Scudder Small Company Stock Fund Scudder Growth and Income Fund Scudder Small Company Value Fund Scudder Health Care Fund Scudder Strategic Income Fund Scudder High Income Fund Scudder Tax Advantaged Dividend Fund Scudder High Income Opportunity Fund Scudder Technology Fund Scudder High Yield Tax-Free Fund Scudder Technology Innovation Fund Scudder Income Fund Scudder Total Return Fund Scudder Intermediate Tax/AMT Free Fund Scudder U.S. Government Securities Fund Scudder International Fund Scudder International Equity Fund
Supplement to the currently effective Statements of Additional Information of the above listed Funds: The following replaces the two paragraphs in each Fund's Statement of Additional Information under "Purchase and Redemption of Shares -- Multi-Class Suitability" on the effective dates provided below: -------------------------------------------------------------------------------- A. Effective July 1, 2004: SDI has established the following procedures regarding the purchase of Class A, Class B and Class C shares. Orders to purchase Class B shares of $100,000 or more and orders to purchase Class C shares of $500,000 or more will be declined with the exception of orders received from financial representatives acting for clients whose shares are held in an omnibus account and employer-sponsored employee benefit plans using the subaccount record keeping system ("System") maintained for Scudder-branded plans under an alliance with SDI and its affiliates ("Scudder Flex Plans" and "Scudder Choice Plans"). The following provisions apply to Scudder Flex Plans and Scudder Choice Plans. a. Class B Share Scudder Flex Plans. Class B shares have not been sold to Scudder Flex Plans that were established on the System after October 1, 2003. Orders to purchase Class B shares for a Scudder Flex Plan established on the System prior to October 1, 2003 that has regularly been purchasing Class B shares will be invested instead in Class A shares at net asset value when the combined subaccount value in Scudder Funds or other eligible assets held by the plan is $100,000 or more. This provision will be imposed for the first purchase after eligible plan assets reach the $100,000 threshold. A later decline in assets below the $100,000 threshold will not affect the plan's ability to continue to purchase Class A shares at net asset value. b. Class C Share Scudder Flex Plans. Orders to purchase Class C shares for a Scudder Flex Plan, regardless of when such plan was established on the System, will be invested instead in Class A shares at net asset value when the combined subaccount value in Scudder Funds or other eligible assets held by the plan is $1,000,000 or more. This provision will be imposed for the first purchase after eligible plan assets reach the $1,000,000 threshold. A later decline in assets below the $1,000,000 threshold will not affect the plan's ability to continue to purchase Class A shares at net asset value. c. Class C Share Scudder Choice Plans. Orders to purchase Class C shares for a Scudder Choice Plan that has been regularly purchasing Class C shares will be invested instead in Class A shares at net asset value when the combined subaccount value in Scudder Funds or other eligible assets held by the plan is $1,000,000 or more. This provision will be imposed for purchases made beginning in the month after eligible plan assets reach the $1,000,000 threshold. In addition, as a condition to being permitted to use the Choice Plan platform, plans must agree that, within one month after eligible plan assets reach the $1,000,000 threshold, all existing Class C shares held in the plan will be automatically converted to Class A shares. The procedures described in (a), (b) and (c) above do not reflect in any way the suitability of a particular class of shares for a particular investor and should not be relied upon as such. A suitability determination must be made by investors with the assistance of their financial representative. October 1, 2004