OPPENHEIMER DEVELOPING MARKETS FUND
Supplement dated August 23, 2000 to the
Prospectus dated December 20, 1999
The Prospectus is changed as follows:
1. The section of the Prospectus entitled "Which Class of Shares Should You
Choose?" is revised by adding the following to the paragraph captioned "How Does
It Affect Payments to my Broker?" on page 16:
The Distributor will use its own resources to pay participating dealers
of record an extra commission of 0.50% on the total value of qualifying
sales of (i) Class A shares of the Fund that are subject to an initial
sales charge, (ii) Class A shares of the Fund that are sold at net
asset value if purchased using the proceeds of shares redeemed in the
prior 30 days from a mutual fund (other than a fund managed by the
Manager or any of its subsidiaries) on which an initial sales charge or
contingent deferred sales charge was paid; the Distributor may require
evidence of qualification for this sales charge waiver; or (iii) Class
B shares of the Fund. Such sales must occur between September 18, 2000
and December 31, 2000 to qualify for extra commissions.
August 23, 2000 PS0785.004
