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OPPENHEIMER HIGH YIELD FUND
Supplement dated February 7, 1996 to the
Prospectus dated November 1, 1995
The following change is made to the Prospectus:
1. Under "Distribution and Service Plan for Class B Shares" on page 33,
the third sentence of the third paragraph is amended to read as follows:
The Distributor pays sales commissions of 3.75% of the
purchase price to dealers from its own resources at the
time of sale.
February 7, 1996
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