OPPENHEIMER DISCIPLINED ALLOCATION FUND
Supplement dated September 25, 1998 to the
Statement of Additional Information dated February 19, 1998
The Statement of Additional Information is revised as follows:
1. The Supplement to the Statement of Additional Information dated May 15,
1998 is hereby replaced with this Supplement.
2. The following paragraphs are added as the third and fourth paragraphs
under the section captioned "Investment Policies and Strategies Foreign
Securities" on page 2:
Risks of Conversion to Euro. On January 1, 1999, eleven countries in
the European Monetary Union will adopt the euro as their official
currency. However, their current currencies (for example, the franc,
the mark, and the lire) will also continue in use until January 1,
2002. After that date, it is expected that only the euro will be used
in those countries. A common currency is expected to confer some
benefits in those markets, by consolidating the government debt
market for those countries and reducing some currency risks and
costs. But the conversion to the new currency will affect the Fund
operationally and also has potential risks, some of which are listed
below. Among other things, the conversion will affect:
o issuers in which the Fund invests, because of changes in the
competitive environment from a consolidated currency market and
greater operational costs from converting to the new currency.
This might depress stock values.
o vendors the Fund depends on to carry out its business, such as
its Custodian (which holds the foreign securities the Fund buys),
the Manager (which must price the Fund's investments to deal with
the conversion to the euro) and brokers, foreign markets and
securities depositories. If they are not prepared, there could be
delays in settlements and additional costs to the Fund. o exchange
contracts and derivatives that are outstanding during the
transition to the euro. The lack of currency rate calculations
between the affected currencies and the need to update the Fund's
contracts could pose extra costs to the Fund.
The Manager is upgrading (at its expense) its computer and
bookkeeping systems to deal with the conversion. The Fund's
Custodian has advised the Manager of its plans to deal with the
conversion, including how it will update its record keeping systems
and handle the redenomination of outstanding foreign debt. The
Fund's portfolio manager will also monitor the effects of the
conversion on the issuers in which the Fund invests. The possible
effect of these factors on the Fund's investments cannot be
determined with certainty at this time, but they may reduce the
value of some of the Fund's holdings and increase its operational
costs.
3. The fourth paragraph in the section entitled AHow 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.
September 25, 1998 px0205.003
<PAGE>
OPPENHEIMER DISCIPLINED VALUE FUND
Supplement dated September 25, 1998 to the
Statement of Additional Information dated February 19, 1998
The Statement of Additional Information is revised as follows:
1. The Supplement to the Statement of Additional Information dated May 15,
1998 is hereby replaced with this Supplement.
2. The following paragraphs are added as the third and fourth paragraphs
under the section captioned "Investment Policies and Strategies Foreign
Securities" on page 2:
Risks of Conversion to Euro. On January 1, 1999, eleven countries in
the European Monetary Union will adopt the euro as their official
currency. However, their current currencies (for example, the franc,
the mark, and the lire) will also continue in use until January 1,
2002. After that date, it is expected that only the euro will be used
in those countries. A common currency is expected to confer some
benefits in those markets, by consolidating the government debt
market for those countries and reducing some currency risks and
costs. But the conversion to the new currency will affect the Fund
operationally and also has potential risks, some of which are listed
below. Among other things, the conversion will affect:
o issuers in which the Fund invests, because of changes in the
competitive environment from a consolidated currency market and
greater operational costs from converting to the new currency.
This might depress stock values.
o vendors the Fund depends on to carry out its business, such as
its Custodian (which holds the foreign securities the Fund buys),
the Manager (which must price the Fund's investments to deal with
the conversion to the euro) and brokers, foreign markets and
securities depositories. If they are not prepared, there could be
delays in settlements and additional costs to the Fund. o exchange
contracts and derivatives that are outstanding during the
transition to the euro. The lack of currency rate calculations
between the affected currencies and the need to update the Fund's
contracts could pose extra costs to the Fund.
The Manager is upgrading (at its expense) its computer and
bookkeeping systems to deal with the conversion. The Fund's
Custodian has advised the Manager of its plans to deal with the
conversion, including how it will update its record keeping systems
and handle the redenomination of outstanding foreign debt. The
Fund's portfolio manager will also monitor the effects of the
conversion on the issuers in which the Fund invests. The possible
effect of these factors on the Fund's investments cannot be
determined with certainty at this time, but they may reduce the
value of some of the Fund's holdings and increase its operational
costs.
3. The fourth paragraph in the section captioned AHow 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.
September 25, 1998 px0375.003
