OPPENHEIMER TAX-FREE BOND FUND
Supplement dated July 14, 1995 to the
Statement of Additional Information dated May 1, 1995
The Statement of Additional Information is amended as follows:
1. In the section entitled "Letters of Intent" on page 32, the first two
sentences of the first paragraph in that section are replaced by the
following:
A Letter of Intent (referred to as a "Letter") is an investor's
statement in writing to the Distributor of the intention to purchase
Class A shares or Class A and Class B shares of the Fund (and other
OppenheimerFunds) during a 13-month period (the "Letter of Intend
period"), which may, at the investor's request, include purchases
made up to 90 days prior to the date of the Letter. The Letter
states the investor's intention to make the aggregate amount of
purchases of shares which, when added to the investor's holdings of
shares of those funds, will equal or exceed the amount specified in
the Letter. Purchases made by reinvestment of dividends or
distributions of capital gains and purchases made at net asset value
without sales charge do not count toward satisfying the amount of
the Letter. A Letter enables an investor to count the Class A and
Class B shares purchased under the Letter to obtain the reduced
sales charge rate on purchases of Class A shares of the Fund (and
other OppenheimerFunds) that applies under the Right of Accumulation
to current purchases of Class A shares.
2. In the section entitled "Terms of Escrow That Apply to Letters of
Intent" on page 33, item 5 of that section is replaced by the following:
5.The shares eligible for purchase under the Letter (or the holding
of which may be counted toward completion of a Letter) include (a)
Class A shares sold with a front-end sales charge or subject to a
Class A contingent deferred sales charge, (b) Class B shares
acquired subject to a contingent deferred sales charge, and (c)
Class A or B shares acquired by reinvestment of dividends and
distributions or acquired in exchange for either (i) Class A shares
of one of the other OppenheimerFunds that were acquired subject to
a Class A initial or contingent deferred sales charge or (ii) Class
B shares of one of the other OppenheimerFunds that were acquired
subject to a contingent deferred sales charge.
3. In the section entitled "Special Arrangements for Repurchase of
Shares from Dealers and Brokers" on page 35, the last sentence of that
section is revised to read as follows:
Ordinarily, for accounts redeemed by a broker-dealer under this
procedure, payment will be made within three business days after the
shares have been redeemed upon the Distributor's receipt the
required redemption documents in proper form, with the signature(s)
of the registered owners guaranteed on the redemption document as
described in the Prospectus.
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4. In the section entitled "How To Exchange Shares" on page 37, the
second full paragraph is changed by adding new second and third sentences
as follows:
However, shares of Oppenheimer Money Market Fund, Inc. purchased
with the redemption proceeds of shares of other mutual funds (other
than funds managed by the Manager or its subsidiaries) redeemed
within the 12 months prior to that purchase may subsequently be
exchanged for shares of other OppenheimerFunds without being subject
to an initial or contingent deferred sales charge, whichever is
applicable. To qualify for that privilege, the investor or the
investor's dealer must notify the Distributor of eligibility for
this privilege at the time the shares of Oppenheimer Money Market
Fund, Inc. are purchased, and, if requested, must supply proof of
entitlement to this privilege.
July 14, 1995 PX0310.002
