497 1 sp102105sv2.txt PROSPECTUS STICKER -------------------------------------------------------------------------------- Scudder Variable Series II o Scudder Government & Agency Securities Portfolio o Scudder Strategic Income Portfolio o Scudder Total Return Portfolio Supplement to the currently effective prospectuses The following revises "The portfolio managers" section of the prospectuses for each of the above-noted portfolios. In addition, the second paragraph in "The portfolio managers" section of the prospectuses for Scudder Total Return Portfolio is deleted. Scudder Government & Agency Securities Portfolio The following person handles the day-to-day management of the portfolio. William Chepolis, CFA Managing Director of Deutsche Asset Management and Lead Portfolio Manager of the portfolio. o Joined Deutsche Asset Management in 1998 after 13 years of experience as vice president and portfolio manager for Norwest Bank where he managed the bank's fixed income and foreign exchange portfolios. o Senior Mortgage Backed Portfolio Manager: New York. o Joined the portfolio in 2002. o BIS, University of Minnesota. Scudder Strategic Income Portfolio The following people handle the day-to-day management of the portfolio.
Andrew P. Cestone William Chepolis, CFA Robert Wang Managing Director of Deutsche Asset Managing Director of Deutsche Managing Director of Deutsche Management and Lead Portfolio Asset Management and Portfolio Asset Management and Portfolio Manager of the portfolio. Manager of the portfolio. Manager of the portfolio. o Joined Deutsche Asset o Joined Deutsche Asset o Global Asset Allocation Management in 1998 and Management in 1998 after 13 senior portfolio manager: New the portfolio in 2002. years of experience as vice York. o Head of High Yield. president and portfolio o Joined Deutsche Asset o Previous experience includes manager for Norwest Bank Management in 1995 as a five years as an investment where he managed the bank's senior fixed income portfolio analyst at Phoenix Investment fixed income and foreign manager after 13 years of Partners and as a credit exchange portfolios. experience at J.P. Morgan & officer in the asset-based o Senior Mortgage Backed Co. trading fixed income, lending group at Fleet Portfolio Manager: New York. derivatives and foreign Financial Group. o Joined the portfolio in 2005. exchange products. o BA, University of Vermont. o BIS, University of Minnesota. o Joined the portfolio in 2005. o BS, The Wharton School, University of Pennsylvania.
Scudder Total Return Portfolio The following people handle the day-to-day management of the portfolio. However, effective November 30, 2005, Mr. Gagnier will not be employed by the advisor and will no longer manage the portfolio. Arnim S. Holzer William Chepolis, CFA Thomas F. Sassi Director of Deutsche Managing Director of Managing Director of Asset Management and Deutsche Asset Deutsche Asset Portfolio Manager Management Management of the portfolio. and Portfolio Manager and Portfolio Manager o Joined Deutsche of the portfolio. of the portfolio. Asset Management o Joined Deutsche o Joined Deutsche in 1999, having Asset Management in Asset Management served with the 1998 after 13 years in 1996 equity and of experience as and the portfolio fixed-income vice president in 2004. investment and portfolio o Over 32 years of committees. manager for Norwest investment industry o Senior Investment Bank where experience. Strategist for he managed the o BBA, MBA, Hofstra Asset Allocation. bank's fixed income University. o Previous experience and foreign includes 18 years of exchange portfolios. Julie M. Van Cleave, CFA investment industry o Senior Portfolio Managing Director of experience, Manager for Deutsche Asset including three Mortgage Backed Management years managing Securities, and Portfolio Manager Emerging Markets New York. of the portfolio. Fixed Income, o Joined the o Joined Deutsche Emerging Markets portfolio in 2005. Asset Management Equity and Emerging o BIS, University of and the Markets balanced Minnesota. portfolio in 2002. accounts at Deltec o Head of Large Cap Asset Management J. Christopher Gagnier Growth Portfolio Corporation. Managing Director of Selection Team. o Joined the portfolio Deutsche Asset o Previous experience in 2004. Management includes 18 years o AB, Princeton and Portfolio Manager of investment University; of the portfolio. industry experience MBA, Fordham o Joined Deutsche at Mason Street University. Asset Management Advisors, as in 1997 Managing Director Andrew P. Cestone and the portfolio and team leader for Managing Director of in 2002. the large cap Deutsche Asset o Prior to that, investment team. Management and Portfolio portfolio manager, o BBA, MBA, Manager of the portfolio. PaineWebber, University of o Joined Deutsche from 1984 to 1997. Wisconsin -- Madison. Asset Management o Began investment in 1998 career in 1979. Robert Wang and the portfolio in o BS, University of Managing Director of 2002. Pennsylvania; Deutsche Asset o Head of High Yield. MBA, University of Management and o Previous experience Chicago. Portfolio Manager of includes five years the portfolio. as an investment Inna Okounkova o Global Asset analyst at Phoenix Director of Deutsche Allocation senior Investment Partners Asset Management and portfolio manager: and as a credit Portfolio Manager of New York. officer in the the portfolio. o Joined Deutsche asset-based lending o Global Asset Asset Management in group at Fleet Allocation 1995 as a senior Financial Group. portfolio manager: fixed income o BA, University of New York. portfolio manager Vermont. o Joined Deutsche after 13 years of Asset Management experience at in 1999 as a J.P. Morgan & Co. quantitative trading fixed analyst, becoming income, derivatives an associate and foreign portfolio manager exchange products. in 2001. o Joined the o Joined the portfolio in 2005. portfolio in 2005. o BS, The Wharton o BS, MS, Moscow School, University State University; of Pennsylvania. MBA, University of Chicago. Please Retain This Supplement for Future Reference October 21, 2005