Scudder has launched the Scudder Select 500 Fund and Scudder Select 1000 Growth Fund. The new funds will follow an exclusion investment strategy designed to outperform each fund's respective benchmark - the S&P 500(R) or Russell 1000 Growth(R) - over time.

"The addition of Scudder Select 500 Fund and Scudder Select 1000 Growth Fund will enrich choices for investors in Scudder's large-cap equity lineup," said Cornelia Small, chief investment officer of Scudder Kemper Investments, Inc. "Diversity of investment styles is important since, historically, value and growth stocks have not performed the same in all market cycles. For example, in 1998, the strongest performance came from large cap growth while value, high yielding, and smallcap stocks underperformed, while in other periods, exactly the opposite has been true."

Scudder Select 500 Fund, a large-cap blend fund, seeks long-term growth and income. The portfolio has risk and other portfolio characteristics similar to the S&P 500 Index, but seeks to outperform this index over time by excluding the stocks in the index with the lowest expected returns.

Scudder Select 1000 Growth Fund, a large-cap growth fund, seeks long-term growth of capital. The Fund has risk and other portfolio characteristics similar to the Russell 1000 Growth Index, but seeks to outperform this index over time by excluding stocks in this index with the lowest expected returns.

Each Scudder Select Fund seeks to outperform its market benchmark by identifying and eliminating the bottom quintile of stocks in terms of estimated future performance. The management team applies this investment process to manage the funds by using a propietary computer model to evaluate each stock.

"Scudder Select 500 Fund and Scudder Select 1000 Fund are innovative, actively managed, diversified domestic equity funds that bring an established investment management approach from the institutional world and adapt it for no-load retail investors," said Phil Fortuna, director of Scudder Kemper Investments' Quantitative Group and a portfolio manager for the two new Scudder Funds.

Lead Portfolio Manager Rob Tymoczko, is a member of the management teams for Scudder Tax Managed Growth Fund and Tax Managed Small Company Fund. Fortuna also has management responsibility for Scudder Small Company Value Fund, Micro Cap Fund, Real Estate Investment Fund, Tax Managed Growth Fund, Tax Managed Small Company Fund, AARP Small Company Stock Fund, Tax Sensitive Trust, and Kemper Small Relative Value Fund.  

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