OPPENHEIMER EQUITY INCOME FUND INC
NSAR-A, 1997-04-29
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020 A000003 ROYAL ALLIANCE ASSOCIATES
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020 A000004 LEHMAN BROTHERS, INC.
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020 A000006 BEAR STEARNS SECURITIES CORP.
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SIGNATURE   GEORGE C. BOWEN                              
TITLE       TREASURER           
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6     
<CIK>                                                 045156
<NAME>           OPPENHEIMER EQUITY INCOME FUND-A
       
<S>                                                   <C>
<PERIOD-TYPE>                                         6-MOS
<FISCAL-YEAR-END>                                     AUG-31-1997
<PERIOD-START>                                        SEP-01-1996
<PERIOD-END>                                          FEB-28-1997
<INVESTMENTS-AT-COST>                                             2,011,671,797
<INVESTMENTS-AT-VALUE>                                            2,825,957,121
<RECEIVABLES>                                                        22,390,627
<ASSETS-OTHER>                                                           34,560
<OTHER-ITEMS-ASSETS>                                                          0
<TOTAL-ASSETS>                                                    2,848,382,308
<PAYABLE-FOR-SECURITIES>                                                      0
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                             7,536,244
<TOTAL-LIABILITIES>                                                   7,536,244
<SENIOR-EQUITY>                                                               0
<PAID-IN-CAPITAL-COMMON>                                          1,981,233,497
<SHARES-COMMON-STOCK>                                               190,747,297
<SHARES-COMMON-PRIOR>                                               185,740,752
<ACCUMULATED-NII-CURRENT>                                            13,330,241
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                              31,998,574
<OVERDISTRIBUTION-GAINS>                                                      0
<ACCUM-APPREC-OR-DEPREC>                                            814,283,752
<NET-ASSETS>                                                      2,470,873,233
<DIVIDEND-INCOME>                                                    29,718,428
<INTEREST-INCOME>                                                    34,676,970
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                       12,735,538
<NET-INVESTMENT-INCOME>                                              51,659,860
<REALIZED-GAINS-CURRENT>                                             37,933,384
<APPREC-INCREASE-CURRENT>                                           385,893,054
<NET-CHANGE-FROM-OPS>                                               475,486,298
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                            44,557,819
<DISTRIBUTIONS-OF-GAINS>                                             74,844,866
<DISTRIBUTIONS-OTHER>                                                         0
<NUMBER-OF-SHARES-SOLD>                                               9,933,432
<NUMBER-OF-SHARES-REDEEMED>                                          14,313,942
<SHARES-REINVESTED>                                                   9,387,055
<NET-CHANGE-IN-ASSETS>                                              463,429,510
<ACCUMULATED-NII-PRIOR>                                              10,933,236
<ACCUMULATED-GAINS-PRIOR>                                            79,266,067
<OVERDISTRIB-NII-PRIOR>                                                       0
<OVERDIST-NET-GAINS-PRIOR>                                                    0
<GROSS-ADVISORY-FEES>                                                 6,875,552
<INTEREST-EXPENSE>                                                            0
<GROSS-EXPENSE>                                                      12,735,538
<AVERAGE-NET-ASSETS>                                              2,315,294,000
<PER-SHARE-NAV-BEGIN>                                                     11.36
<PER-SHARE-NII>                                                            0.19
<PER-SHARE-GAIN-APPREC>                                                    2.04
<PER-SHARE-DIVIDEND>                                                       0.24
<PER-SHARE-DISTRIBUTIONS>                                                  0.40
<RETURNS-OF-CAPITAL>                                                       0.00
<PER-SHARE-NAV-END>                                                       12.95
<EXPENSE-RATIO>                                                            0.88
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                       0.00
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>                                                                   045156
<NAME>           OPPENHEIMER EQUITY INCOME FUND-B
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       AUG-31-1997
<PERIOD-START>                                                          SEP-01-1996
<PERIOD-END>                                                            FEB-28-1997
<INVESTMENTS-AT-COST>                                                               2,011,671,797
<INVESTMENTS-AT-VALUE>                                                              2,825,957,121
<RECEIVABLES>                                                                          22,390,627
<ASSETS-OTHER>                                                                             34,560
<OTHER-ITEMS-ASSETS>                                                                            0
<TOTAL-ASSETS>                                                                      2,848,382,308
<PAYABLE-FOR-SECURITIES>                                                                        0
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               7,536,244
<TOTAL-LIABILITIES>                                                                     7,536,244
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            1,981,233,497
<SHARES-COMMON-STOCK>                                                                  27,022,556
<SHARES-COMMON-PRIOR>                                                                  22,998,516
<ACCUMULATED-NII-CURRENT>                                                              13,330,241
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                31,998,574
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                              814,283,752
<NET-ASSETS>                                                                          347,628,498
<DIVIDEND-INCOME>                                                                      29,718,428
<INTEREST-INCOME>                                                                      34,676,970
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         12,735,538
<NET-INVESTMENT-INCOME>                                                                51,659,860
<REALIZED-GAINS-CURRENT>                                                               37,933,384
<APPREC-INCREASE-CURRENT>                                                             385,893,054
<NET-CHANGE-FROM-OPS>                                                                 475,486,298
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                               4,546,407
<DISTRIBUTIONS-OF-GAINS>                                                                9,969,879
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                 4,304,231
<NUMBER-OF-SHARES-REDEEMED>                                                             1,413,739
<SHARES-REINVESTED>                                                                     1,133,548
<NET-CHANGE-IN-ASSETS>                                                                463,429,510
<ACCUMULATED-NII-PRIOR>                                                                10,933,236
<ACCUMULATED-GAINS-PRIOR>                                                              79,266,067
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   6,875,552
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        12,735,538
<AVERAGE-NET-ASSETS>                                                                  303,619,000
<PER-SHARE-NAV-BEGIN>                                                                          11.29
<PER-SHARE-NII>                                                                                 0.14
<PER-SHARE-GAIN-APPREC>                                                                         2.02
<PER-SHARE-DIVIDEND>                                                                            0.19
<PER-SHARE-DISTRIBUTIONS>                                                                       0.40
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            12.86
<EXPENSE-RATIO>                                                                                 1.70
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>                                                                   045156
<NAME>           OPPENHEIMER EQUITY INCOME FUND-C
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       AUG-31-1997
<PERIOD-START>                                                          SEP-01-1996
<PERIOD-END>                                                            FEB-28-1997
<INVESTMENTS-AT-COST>                                                               2,011,671,797
<INVESTMENTS-AT-VALUE>                                                              2,825,957,121
<RECEIVABLES>                                                                          22,390,627
<ASSETS-OTHER>                                                                             34,560
<OTHER-ITEMS-ASSETS>                                                                            0
<TOTAL-ASSETS>                                                                      2,848,382,308
<PAYABLE-FOR-SECURITIES>                                                                        0
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               7,536,244
<TOTAL-LIABILITIES>                                                                     7,536,244
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            1,981,233,497
<SHARES-COMMON-STOCK>                                                                   1,735,267
<SHARES-COMMON-PRIOR>                                                                     653,028
<ACCUMULATED-NII-CURRENT>                                                              13,330,241
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                31,998,574
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                              814,283,752
<NET-ASSETS>                                                                           22,344,333
<DIVIDEND-INCOME>                                                                      29,718,428
<INTEREST-INCOME>                                                                      34,676,970
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         12,735,538
<NET-INVESTMENT-INCOME>                                                                51,659,860
<REALIZED-GAINS-CURRENT>                                                               37,933,384
<APPREC-INCREASE-CURRENT>                                                             385,893,054
<NET-CHANGE-FROM-OPS>                                                                 475,486,298
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                                 158,629
<DISTRIBUTIONS-OF-GAINS>                                                                  386,132
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                 1,112,758
<NUMBER-OF-SHARES-REDEEMED>                                                                74,619
<SHARES-REINVESTED>                                                                        44,100
<NET-CHANGE-IN-ASSETS>                                                                463,429,510
<ACCUMULATED-NII-PRIOR>                                                                10,933,236
<ACCUMULATED-GAINS-PRIOR>                                                              79,266,067
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   6,875,552
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        12,735,538
<AVERAGE-NET-ASSETS>                                                                   11,654,000
<PER-SHARE-NAV-BEGIN>                                                                          11.30
<PER-SHARE-NII>                                                                                 0.16
<PER-SHARE-GAIN-APPREC>                                                                         2.01
<PER-SHARE-DIVIDEND>                                                                            0.19
<PER-SHARE-DISTRIBUTIONS>                                                                       0.40
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            12.88
<EXPENSE-RATIO>                                                                                 1.75
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>


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