Supplement to the currently  effective  Statement of Additional  Information for
the listed Portfolio:

DWS Balanced VIP

--------------------------------------------------------------------------------

The following  information  supplements the "Management of the Funds" section of
the above Portfolio's current Statement of Additional Information.


Portfolio Ownership of Portfolio Managers. For Portfolios managed by the Advisor
or an affiliated  Advisor,  the following table shows the dollar range of shares
owned  beneficially  and of record by each member of the Portfolio's  management
team in the  applicable  Portfolio  as well as in all DWS Funds as a group (i.e.
those funds advised by Deutsche Asset Management or its  affiliates),  including
investments by their  immediate  family  members  sharing the same household and
amounts  invested  through  retirement  and deferred  compensation  plans.  This
information is provided as of October 31, 2007 for Matthias Knerr.

<TABLE>
<CAPTION>

                                  Name of                  Dollar Range of         Dollar Range of All
Name of Portfolio            Portfolio Manager         Portfolio Shares Owned    DWS Fund Shares Owned
-----------------            -----------------         ----------------------    ---------------------
<S>                               <C>                           <C>                      <C>
Balanced                        Matthias Knerr                   $0               $500,001 - $1,00,000

Conflicts of Interest. In addition to managing the assets of the Portfolios, the
portfolio managers may have responsibility for managing other client accounts of
the  Advisor  or its  affiliates.  The tables  below  show,  for each  portfolio
manager,  the number and asset size of (1) SEC registered  investment  companies
(or series  thereof) other than the Portfolio,  (2) pooled  investment  vehicles
that are not  registered  investment  companies  and (3) other  accounts  (e.g.,
accounts  managed for  individuals or  organizations)  managed by each portfolio
manager.  Total assets  attributed to each portfolio manager in the tables below
include total assets of each account  managed by them,  although the manager may
only manage a portion of such account's assets.  The tables also show the number
of performance  based fee accounts,  as well as the total assets of the accounts
for which the advisory  fee is based on the  performance  of the  account.  This
information is provided as of October 31, 2007 for Matthias Knerr.

Other SEC Registered Investment Companies Managed:

                                                                                            Number of
                                                                                            Investment
                                                        Number of      Total Assets of       Company        Total Assets of
                                                        Registered       Registered       Accounts with       Performance-
                              Name of Portfolio         Investment       Investment        Performance-        Based Fee
Name of Portfolio                  Manager              Companies         Companies         Based Fee           Accounts
-----------------                  -------              ---------         ---------         ---------           --------

Balanced                   Matthias Knerr                   4          $3,908,616,290           0                 $0





<PAGE>




Other Pooled Investment Vehicles Managed:

                                                                                             Number of
                                                                                              Pooled
                                                                                            Investment        Total Assets
                                                        Number of      Total Assets of       Vehicle               of
                                                          Pooled           Pooled         Accounts with       Performance-
                              Name of Portfolio         Investment       Investment        Performance-        Based Fee
Name of Portfolio                  Manager               Vehicles         Vehicles          Based Fee           Accounts
-----------------                  -------               --------         --------          ---------           --------

Balanced                      Matthias Knerr                   4          $92,233,860              0                 $0

Other Accounts Managed:

                                                                                            Number of
                                                                                              Other          Total Assets of
                                                        Number of                         Accounts with       Performance-
                              Name of Portfolio           Other        Total Assets of     Performance-        Based Fee
Name of Portfolio                  Manager               Accounts      Other Accounts       Based Fee           Accounts
-----------------                  -------               --------      --------------       ---------           --------

Balanced                      Matthias Knerr                   2          $120,181,881             0                 $0
</TABLE>


               Please Retain This Supplement for Future Reference

February 8, 2008