Exhibit (h)(2)(a)

                     AMENDMENT No. 1 to the AGENCY AGREEMENT


         This AMENDMENT NO. 1 is made as of July 24, 2002 to that certain AGENCY
AGREEMENT (together with the exhibits and supplements attached here and thereto,
this "Agreement"), dated July 1, 2001, by and between SCUDDER U.S. GOVERNMENT
SECURITIES FUND (the "Fund") and STATE STREET BANK AND TRUST COMPANY , a state
chartered trust company organized and existing under the laws of the state of
Massachusetts ("SSBTC") (formerly Investors Fiduciary Trust Company, acquired by
SSBTC, effective August 31, 2000, whereupon SSBTC was assigned this Agreement).

         WHEREAS,  the U.S.  Congress has enacted the Uniting and  Strengthening
America by  Providing  Appropriate  Tools  Required to  Intercept  and  Obstruct
Terrorism Act of 2001, as may be amended from time to time, and all  regulations
promulgated pursuant thereto (collectively,  the "USA PATRIOT Act") and the Bank
Secrecy  Act, as  amended,  and the  regulations  promulgated  pursuant  thereto
(collectively,   the  "BSA"),  to  require  open-end  mutual  funds  to  develop
anti-money laundering compliance programs and procedures ("AML Program");

         WHEREAS,  the Fund has no employees,  and account openings and dealings
with shareholders are maintained by SSBTC as they relate to the Fund pursuant to
the Agreement;

         WHEREAS,  the Fund has  adopted an AML  Program to comply  with the USA
PATRIOT Act and the BSA which require  agreements  with certain third parties to
be amended; and

         WHEREAS,  the parties have agreed to amend the  Agreement in accordance
with  Section  24B to comply with the Fund's AML Program and the USA PATRIOT Act
and the BSA.

         NOW,  THEREFORE,  in consideration of the mutual promises set forth and
for other good and valuable consideration, the parties hereby agree to amend the
Agreement as follows:

1.       The following is hereby inserted as a new paragraph F to Section 4:


            F.    SSBTC agrees to comply with the provisions of the USA PATRIOT
                  Act and the BSA, as they relate to the Fund. SSBTC further
                  agrees to establish and implement an Anti-Money Laundering
                  Program, as defined in Section 352 of the USA PATRIOT Act. In
                  addition to the usual and ordinary services of Transfer Agent
                  and Dividend Disbursing Agent set forth in this Agreement,
                  SSBTC shall perform the services necessary to ensure that the
                  Fund is in compliance with the USA PATRIOT Act and the BSA,
                  including but not limited to implementing policies and
                  procedures, maintaining books and records and responding to


                  requests for information pursuant to the USA PATRIOT Act and
                  the BSA.

2.       Paragraph F of Section 8 is hereby amended by inserting the following
         at the end thereof:


                  All books and records required to be maintained for the Fund
                  under the USA PATRIOT Act and the BSA shall be made available,
                  for inspection and copying, to the U.S. Department of
                  Treasury's Financial Crimes Enforcement Network and the
                  Securities and Exchange Commission as may be requested
                  pursuant to the USA PATRIOT Act and the BSA.

3.       Section 16 is hereby amended by inserting the following at the end of
         the paragraph:

                  SSBTC shall create and maintain true and complete books and
                  records as required for the Fund by the USA PATRIOT Act and
                  the BSA.

4.       Section 17 is amended by inserting the following at the end of the
         paragraph:

                  All books and records required to be maintained under the USA
                  PATRIOT Act and the BSA shall be retained for the periods
                  specified therein.

5.       Paragraph J of Section 18 is hereby replaced in its entirety with the
         following:

                  In case of any request or demand for the inspection of the
                  share books of Fund or any other books of Fund in the
                  possession of SSBTC, including a request from FinCEN or the
                  SEC under Paragraph F of Section 8 hereof, SSBTC will endeavor
                  to notify Fund and to secure instructions as to permitting or
                  refusing such inspection. SSBTC reserves the right, however,
                  to exhibit the share books or other books to any person in
                  case it is advised by its counsel that it may be held
                  responsible for the failure to exhibit the share books or
                  other books to such person.






         IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their respective duly authorized officer as of the day and year
first set forth above.

ATTEST:                                         SCUDDER U.S. GOVERNMENT
                                                SECURITIES FUND
/s/John Millette
----------------------------                    By:/s/Philip J. Collora
John Millette                                      ----------------------
Secretary                                          Philip J. Collora
                                                   Vice President


ATTEST:
                                                STATE STREET BANK AND TRUST
                                                COMPANY
/s/Charles C. Cutrell
------------------------------
Charles C. Cutrell                              By:/s/Maureen Scannell Bateman
Associate General Counsel                          ---------------------------
                                                   Maureen Scannell Bateman
                                                   Executive Vice President