Siemion Huckabay

ACCREDITED INVESTOR FILES A SHAREHOLDERS' RIGHTS CLAIMS AGAINST SCUDDER INVESTMENT,ET AL., FOR IMPROPER MARKETING OF ITS MUTUAL FUNDS

DETROIT, February 18, 2004
A shareholders' rights action has been filed by the law firm of Siemion Huckabay, et al. P.C. on behalf of an accredited investor and all persons or entities who purchased or otherwise acquired securities of the Scudder family of proprietary funds (the "Funds"), between January 22, 1999 and January 12, 2004, inclusive (the "Class Period"). The Complaint, which was filed on February 10, 2004, is filed in the United States District Court for the District of New York, case number 04-CV-1331. The Funds, and the symbols for the respective Funds named below, are as follows:

Scudder 21st Century Growth Fund (NASDAQ: SCNAX, SXXIX, SCTGX)
Scudder Global Biotechnology Fund (NASDAQ: DBBTX, DBBBX, DBBCX)
Scudder Aggressive Growth Fund (NASDAQ: KGGAX, KGGBX, KGGCX)
Scudder Technology Fund (NASDAQ: KTCAX, KTCBX, KTCCX)
Scudder Technology Innovation Fund (NASDAQ: SRIAX, SRIBX, SRICX)
Scudder Emerging Markets Growth Fund (NASDAQ: SEKAX, SEKBX, SEKCX)
Scudder Pacific Opportunities Fund (NASDAQ: SPAOX, SBPOX, SPCCX)

The Complaint alleges that Scudder Investments, et al., violated Sections 11 and 15 of the Securities Act of 1933; Sections 10(b) and 20(a) of the Securities Exchange Act of 1934; and Rule 10b-5 promulgated thereunder; and Section 206 of the Investment Advisers Act of 1940. The Complaint charges that, throughout the Class Period, defendants failed to disclose that they improperly allowed certain hedge funds to engage in the "timing" of their transactions in the Funds' securities. Timing is excessive, arbitrage trading undertaken to turn a quick profit. Timing injures ordinary mutual fund investors -- who are not allowed to engage in such practices -- and is acknowledged as an improper practice by the Funds. In return for receiving extra fees from hedge funds and other favored investors, Scudder Investments and its affiliates allowed and facilitated hedge funds' timing activities, to the detriment of class members, who paid, dollar for dollar, for these unknown hedge funds' improper profits. These practices were undisclosed in the prospectuses of the Funds, which falsely represented that the Funds actively police against timing.

If you bought the securities of any of the Funds between January 22, 1999 and January 12, 2004 and sustained damages, you may, no later than March 22, 2004, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Traditionally, the court will appoint a shareholder(s) with a substantial investment in the covered securities, including accredited and institutional investors, as lead plaintiff if they have retained counsel and actively join the shareholders' rights action by the established deadline. You may retain Siemion Huckabay, or other counsel of your choice, to serve as your counsel in this action.

Established in 1981, Siemion Huckabay, et al., P.C. is a civil litigation law firm, based in metropolitan Detroit. If you wish to discuss the action, please contact plaintiff's counsel, Andrew J. Morganti by e-mail at amorganti@siemion-huckabay.com.