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OPPENHEIMER EQUITY INCOME FUND
Supplement dated December 23, 1993
to the Prospectus dated October 4, 1993
The Prospectus is amended as follows:
The first and second sentences of the third paragraph under the heading
"The Fund and its Investment Policies" on page 5 are deleted and replaced
with the following:
Investments in bonds and debentures will be based on the Fund's
objective of high current income and will not be limited to
issues having specific ratings. Lower rated securities are
those which are rated below "BBB" by Standard & Poor's or "Baa"
by Moody's, or are unrated debt securities judged by the Manager
to be of comparable quality. The Fund is permitted to invest
up to 25% of its total assets in lower rated convertible
securities, but shall not invest more than 25% of its total
assets in lower rated convertible and non-convertible
securities, collectively, and shall not invest more than 10% of
its total assets in lower rated non-convertible securities.
December 23, 1993 PS300
