CENTENNIAL TAX EXEMPT TRUST /CO/
497, 2000-04-06
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                           CENTENNIAL TAX EXEMPT TRUST
                           CENTENNIAL GOVERNMENT TRUST
                          CENTENNIAL MONEY MARKET TRUST
                      Supplement dated April 1, 2000 to the
                        Prospectus dated November 1, 1999



The first three  sentences of the third  paragraph  under the  heading:  How the
Trusts are Managed on Page A-1 of the prospectus are revised as follows.


|X| Portfolio  Managers.  The  portfolio  managers of the Trusts are the persons
principally  responsible for the day-to-day management of the Trust's portfolio.
The portfolio manager of Centennial Money Market Trust and Centennial Government
Trust is Carol E. Wolf.  She has had this  responsibility  since June,  1990 and
July, 1988, respectively. She is a Vice President of the Manager and of the Fund
and an officer and portfolio  manager of other funds for which the Manager or an
affiliate serves as investment advisor.












April 1, 2000                                             PS000.007.0400


<PAGE>


                           CENTENNIAL GOVERNMENT TRUST
                          CENTENNIAL MONEY MARKET TRUST
                           CENTENNIAL TAX EXEMPT TRUST
                      Supplement dated April 1, 2000 to the
                        Prospectus dated November 1, 1999



The first three  sentences of the third  paragraph on Page A-1 of the prospectus
are revised as follows.  |X| Portfolio  Managers.  The portfolio managers of the
Trusts are the persons principally  responsible for the day-to-day management of
the Trust's  portfolio.  The portfolio  manager of Centennial Money Market Trust
and   Centennial   Government   Trust  is  Carol  E.  Wolf.  She  has  had  this
responsibility  since  June,  1990 and July,  1988  respectively.  She is a Vice
President of the Manager and of the Fund and an officer and portfolio manager of
other funds for which the Manager or an affiliate serves as investment advisor.










April 1, 2000                                             PS000.007.0400


<PAGE>


                          CENTENNIAL MONEY MARKET TRUST
                           CENTENNIAL GOVERNMENT TRUST
                           CENTENNIAL TAX EXEMPT TRUST
                      Supplement dated April 1, 2000 to the
                        Prospectus dated November 1, 1999



The first three  sentences of the third  paragraph  under the  heading:  How the
Trusts are Managed on Page A-1 of the prospectus are revised as follows.


|X| Portfolio  Managers.  The  portfolio  managers of the Trusts are the persons
principally  responsible for the day-to-day management of the Trust's portfolio.
The portfolio manager of Centennial Money Market Trust and Centennial Government
Trust is Carol E. Wolf.  She has had this  responsibility  since June,  1990 and
July, 1988, respectively. She is a Vice President of the Manager and of the Fund
and an officer and portfolio  manager of other funds for which the Manager or an
affiliate serves as investment advisor.









April 1, 2000                                             PS000.006.0400




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