OPPENHEIMER DISCIPLINED ALLOCATION FUND
Supplement dated May 15, 1998 to the
Prospectus dated February 19, 1998
The Prospectus is changed as follows effective June 1, 1998:
1. Footnote number 1 under the table entitled "Shareholder
Transaction Expenses" on
page 3 is modified to read as follows:
(1) If you invest $1 million or more ($500,000 or more for purchases by
"Retirement Plans" as defined in "Class A Contingent Deferred Sales Charge"
on pages 35 & 36) in Class A shares, you may have to pay a sales charge of
up to 1% if you sell your shares within 18 calendar months from the end of
the calendar month during which you purchased those shares. See "How to Buy
Shares -- Buying Class A Shares," below.
2. The second sentence of the paragraph entitled "Class A Shares" in the section
entitled "How to Buy Shares-Classes of Shares" on page 30 is modified to read as
follows:
If you purchase Class A shares as part of an investment of at least $1
million ($500,000 for Retirement Plans) in shares of one or more Oppenheimer
funds, you will not pay an initial sales charge, but if you sell any of
those shares within 18 months of buying them, you may pay a contingent
deferred sales charge, described below.
3. The second sub-paragraph under the first paragraph of the section entitled
"Buying Class A Shares - Class A Contingent Deferred Sales Charge" on page 35 is
modified to read
as follows:
o Purchases by a retirement plan qualified under section 401(a) or
401(k) of the Internal Revenue Code if the retirement plan has total assets
of $500,000 or more;
<PAGE>
4. The first and second sentences of the third paragraph of the section entitled
"Buying Class A Shares-Class A Contingent Deferred Sales Charge" on page 36 are
modified to read as follows:
If you redeem any Class A shares subject to the contingent deferred sales
charge described above within 18 months of the end of the calendar month of
their purchase, a contingent deferred sales charge (called the "Class A
contingent deferred sales charge") may be deducted from the redemption
proceeds. (A different holding period may apply to shares purchased prior to
June 1, 1998).
5. The second sentence of the fifth paragraph of the section entitled "Buying
Class A Shares-Class A Contingent Deferred Sales Charge" on page 36
is modified to read as follows:
However, if the shares acquired by exchange are redeemed within 18 months of the
end of the calendar month of the purchase of the exchanged shares, the
contingent deferred sales charge will apply. (A different holding period may
apply to shares purchased prior to June 1, 1998).
6. The paragraph entitled "Special Arrangements With Dealers" on page 36 is
hereby deleted.
7. The following sub-paragraphs of the section entitled " Waivers of Class A
Sales Charges-Waivers of the Class A Contingent Deferred Sales
Charge for Certain Redemptions" on page 39 are deleted:
o if, at the time of purchase of shares (prior to May 1, 1997) the
dealer agreed in writing to accept the dealer's portion of the sales
commission in installments of 1/18th of the commission per month (and no
further commission will be payable if the shares are redeemed within 18
months of purchase)
o if, at the time of purchase of shares (after May
1, 1997) the dealer agrees
in writing to accept the dealer's portion of the sales
commission in installments of
1/12th of the commission per month (and no further
commission will be payable if the
shares are redeemed within 12 months of purchase)
<PAGE>
8. The section captioned "OppenheimerFunds Internet Web Site" under "Special
Investor Services" on page 45 should be revised to read as follows:
OppenheimerFunds Internet Web Site. Information about the Fund, including
your account balance, daily share prices, market and Fund portfolio information,
may be obtained by visiting the OppenheimerFunds Internet Web Site, at the
following Internet address: http://www.oppenheimerfunds.com. Additionally,
certain account transactions may be requested by any shareholder listed in the
registration on an account as well as by the dealer representative of record,
through a special section of that Web Site. To access that section of the Web
Site, you must first obtain a personal identification number ("PIN") by calling
OppenheimerFunds PhoneLink at 1-800-533-3310. If you do not wish to have
Internet account transactions capability for your account, please call our
customer service representatives at 1-800-525-7048. To find out more information
about Internet transactions and procedures, please visit the Web Site.
May 15, 1998 PS0205.008
<PAGE>
OPPENHEIMER DISCIPLINED ALLOCATION FUND
Supplement dated May 15, 1998 to the
Statement of Additional Information dated February 19, 1998
The Statement of Additional Information is changed as follows effective June 1,
1998:
1. The fourth paragraph in the section entitled "How To
Exchange Shares" on page 52 is
revised to read as follows:
Shares of the Fund acquired by reinvestment of dividends or distributions
from any of the other Oppenheimer funds or from any unit investment trust for
which reinvestment arrangements have been made with the Distributor may be
exchanged at net asset value for shares of any of the Oppenheimer funds. No
contingent deferred sales charge is imposed on exchanges of shares of any class
purchased subject to a contingent deferred sales charge. However, if you redeem
Class A shares of the Fund that were acquired by exchange of Class A shares of
other Oppenheimer funds purchased subject to a Class A contingent deferred sales
charge within 18 months of the end of the calendar month of the purchase of the
exchanged Class A shares, the Class A contingent deferred sales charge is
imposed on the redeemed shares (see "Class A Contingent Deferred Sales Charge"
in the Prospectus). (A different holding period may apply to shares purchased
prior to June 1, 1998). The Class B contingent deferred sales charge is imposed
on Class B shares acquired by exchange if they are redeemed within six years of
the initial purchase of the exchanged Class B shares. The Class C contingent
deferred sales charge is imposed on Class C shares acquired by exchange if they
are redeemed within 12 months of the initial purchase of the exchanged Class C
shares.
May 15, 1998 PX0205.002
<PAGE>
OPPENHEIMER DISCIPLINED VALUE FUND
Supplement dated May 15, 1998 to the
Prospectus dated February 19, 1998
The Prospectus is changed as follows effective June 1, 1998:
1. Footnote number 1 under the table entitled "Shareholder
Transaction Expenses" on
page 3 is modified to read as follows:
(1) If you invest $1 million or more ($500,000 or more for purchases by
"Retirement Plans" as defined in "Class A Contingent Deferred Sales Charge"
on pages 35 & 36) in Class A shares, you may have to pay a sales charge of
up to 1% if you sell your shares within 18 calendar months from the end of
the calendar month during which you purchased those shares. See "How to Buy
Shares -- Buying Class A Shares," below.
2. The second sentence of the paragraph entitled "Class A Shares" in the section
entitled "How to Buy Shares-Classes of Shares" on page 24 is modified to read as
follows:
If you purchase Class A shares as part of an investment of at least $1
million ($500,000 for Retirement Plans) in shares of one or more Oppenheimer
funds, you will not pay an initial sales charge, but if you sell any of
those shares within 18 months of buying them, you may pay a contingent
deferred sales charge, described below.
3. The first and second sentences of the third paragraph of the section entitled
"Buying Class A Shares-Class A Contingent Deferred Sales Charge" on page 30 are
modified to read as follows:
If you redeem any Class A shares subject to the contingent deferred sales
charge described above within 18 months of the end of the calendar month of
their purchase, a contingent deferred sales charge (called the "Class A
contingent deferred sales charge") may be deducted from the redemption
proceeds. (A different holding period may apply to shares purchased prior to
June 1, 1998).
4. The second sentence of the fifth paragraph of the section entitled "Buying
Class A Shares-Class A Contingent Deferred Sales Charge" on page 30
is modified to read as follows:
(continued)
<PAGE>
However, if the shares acquired by exchange are redeemed within 18 months of the
end of the calendar month of the purchase of the exchanged shares, the
contingent deferred sales charge will apply. (A different holding period may
apply to shares purchased prior to June 1, 1998).
5. The paragraph entitled "Special Arrangements With Dealers" on page 30 is
hereby deleted.
6. The following sub-paragraphs of the section entitled " Waivers of Class A
Sales Charges-Waivers of the Class A Contingent Deferred Sales
Charge for Certain Redemptions" on page 33 are deleted:
o if, at the time of purchase of shares (prior to May 1, 1997) the
dealer agreed in writing to accept the dealer's portion of the sales
commission in installments of 1/18th of the commission per month (and no
further commission will be payable if the shares are redeemed within 18
months of purchase)
o if, at the time of purchase of shares (if
purchased during the period to May 1,
1997 through December 31,1997) the dealer agrees in
writing to accept the dealer's
portion of the sales commission in installments of 1/12th
of the commission per month
(and no further commission will be payable if the shares
are redeemed within 12 months
of purchase)
7. The section captioned "OppenheimerFunds Internet Web Site" under "Special
Investor Services" on page 40 should be revised to read as follows:
OppenheimerFunds Internet Web Site. Information about the Fund, including
your account balance, daily share prices, market and Fund portfolio information,
may be obtained by visiting the OppenheimerFunds Internet Web Site, at the
following Internet address: http://www.oppenheimerfunds.com. Additionally,
certain account transactions may be requested by any shareholder listed in the
registration on an account as well as by the dealer representative of record,
through a special section of that Web Site. To access that section
(continued)
<PAGE>
of the Web Site, you must first obtain a personal identification number ("PIN")
by calling OppenheimerFunds PhoneLink at 1-800-533-3310. If you do not wish to
have Internet account transactions capability for your account, please call our
customer service representatives at 1-800-525-7048. To find out more information
about Internet transactions and procedures, please visit the Web Site.
May 15, 1998 PS0375.007
<PAGE>
OPPENHEIMER DISCIPLINED VALUE FUND
Supplement dated May 15, 1998 to the
Statement of Additional Information dated February 19, 1998
The Statement of Additional Information is changed as follows effective June 1,
1998:
1. The fourth paragraph in the section entitled "How To
Exchange Shares" on page 51 is
revised to read as follows:
Shares of the Fund acquired by reinvestment of dividends or distributions
from any of the other Oppenheimer funds or from any unit investment trust for
which reinvestment arrangements have been made with the Distributor may be
exchanged at net asset value for shares of any of the Oppenheimer funds. No
contingent deferred sales charge is imposed on exchanges of shares of any class
purchased subject to a contingent deferred sales charge. However, if you redeem
Class A shares of the Fund that were acquired by exchange of Class A shares of
other Oppenheimer funds purchased subject to a Class A contingent deferred sales
charge within 18 months of the end of the calendar month of the purchase of the
exchanged Class A shares, the Class A contingent deferred sales charge is
imposed on the redeemed shares (see "Class A Contingent Deferred Sales Charge"
in the Prospectus). (A different holding period may apply to shares purchased
prior to June 1, 1998). The Class B contingent deferred sales charge is imposed
on Class B shares acquired by exchange if they are redeemed within six years of
the initial purchase of the exchanged Class B shares. The Class C contingent
deferred sales charge is imposed on Class C shares acquired by exchange if they
are redeemed within 12 months of the initial purchase of the exchanged Class C
shares.
May 15, 1998 PX0375.002
