Exhibit (G2)

                         AMENDMENT TO CUSTODIAN CONTRACT


     This  Amendment to the custody  contract is made as of January 5, 2001,  by
and between State Street Bank and Trust Company (the  "Custodian") and INVESTORS
CASH TRUST, on behalf of each of its Portfolios (the "Fund").  Capitalized terms
used in this Amendment  without  definition  shall have the respective  meanings
given to such terms in the Custodian Contract referred to below.

     WHEREAS, the Fund and the Custodian entered into a Custodian Contract dated
April 19, 1999 (as amended from time to time, the "Custodian Contract"); and

     WHEREAS, the Fund and the Custodian wish to amend the Custodian Contract to
enable the Fund to instruct the Custodian to pay out Fund moneys for cash sweeps
and interfund lending or borrowing transactions and also to segregate collateral
for interfund lending or borrowing transactions;

     NOW,  THEREFORE,  in consideration of the foregoing and the mutual promises
and covenants contained herein and in the Custodian Contract, the parties hereby
agree to amend the Custodian Contract as follows:

1.        Payment of Fund Monies
          ----------------------

          In Section 2.7,  subsection 7 is  renumbered  as  subsection 9 and new
          subsections 7 and 8 are added to the Custodian Contract as follows:

          (7) in connection with a lending or borrowing  transaction between the
          Fund, on behalf of a Portfolio,  and an investment  company, on behalf
          of a Portfolio, advised by Scudder Kemper Investments;

          (8) in connection with a cash sweep arrangement; or


2.        Segregated Account
          ------------------

          In Section 2.12,  subsection  (iv) is renumbered as subsection (v) and
          reworded,  in part as shown below; and new subsection (iv) is added to
          the Custodian Contract as follows:

          (iv) for the purpose of segregating  securities or other assets of the
          Fund in connection with a borrowing  transaction  between the Fund, on
          behalf of a  Portfolio,  as borrower  and an  investment  company,  on
          behalf of a Portfolio, advised by Scudder Kemper Investments, and

          (v) for other proper corporate purposes,  but only in the case of this
          clause (v),







     IN WITNESS  WHEREOF,  each of the parties has caused this  instrument to be
executed in its name and on its behalf by its duly authorized  representative as
of the date written above.

                                    INVESTORS CASH TRUST


                                    By:  /s/Mark S. Casady
                                         ---------------------------------------
                                         Mark S. Casady

                                    Its: President
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                                    STATE STREET BANK AND TRUST COMPANY



                                    By:  /s/ Ronald E. Logue
                                         ---------------------------------------

                                    Its: Vice Chairman
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