OPPENHEIMER INVESTMENT GRADE BOND FUND
Supplement dated January 3, 1995 to the
Prospectus dated May 1, 1994
The Prospectus is amended as follows:
1. The section entitled "At What Price Are Shares Sold?" on page 15 is
amended by revising the second sentence of the first paragraph to
read as follows: "In most cases, to enable you to receive that day's
offering price, the Distributor must receive your order by the time
of day The New York Stock Exchange closes, which is normally 4:00
P.M., New York time, but may be earlier on some days (all references
to time in this Prospectus mean 'New York time')." In the second
paragraph of that section, the first sentence is revised to read as
follows: "If you buy shares through a dealer, the dealer must
receive your order by the close of The New York Stock Exchange on
a regular business day and transmit it to the Distributor so that
it is received before the Distributor's close of business that day,
which is normally 5:00 P.M."
2. The section entitled "Selling Shares by Telephone" on page 22 is
amended by revising the second sentence to read as follows: "To
receive the redemption price on a regular business day, your call
must be received by the Transfer Agent by the close of The New York
Stock Exchange that day, which is normally 4:00 P.M., but may be
earlier on some days."
3. The section entitled "How To Exchange Shares" is amended by revising
the first sentence in the first "bulleted" paragraph following
"Telephone Exchange Requests" on page 23 to read as follows: "Shares
are normally redeemed from one fund and purchased from the other
fund in the exchange transaction on the same regular business day
on which the Transfer Agent receives an exchange request that is in
proper form by the close of The New York Stock Exchange that day,
which is normally 4:00 P.M. but may be earlier on some days."
4. The first sentence of the section entitled "Net Asset Value Per
Share" under "Shareholder Account Rules and Policies" on page 23 is
revised to read as follows: "Net Asset Value Per Share is determined
for each class of shares as of the close of The New York Stock
Exchange on each regular business day by dividing the value of the
Fund's net assets attributable to a class by the number of shares
of that class that are outstanding."
January 3, 1995
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OPPENHEIMER INVESTMENT GRADE BOND FUND
Supplement Dated January 3, 1995
To the Statement of Additional Information Dated May 1, 1994
The Statement of Additional Information is amended as follows:
1. The first sentence of the section entitled "Determination of Net
Asset Value Per Share" under "How To Buy Shares" on page 30 is
amended to read as follows, and a new second sentence is added to
that section as follows: "The net asset values per share of Class
A and Class B shares of the Fund are determined as of the close of
business of The New York Stock Exchange on each day that the
Exchange is open by dividing the Fund's net assets attributable to
a class by the number of shares of that class that are outstanding.
The Exchange normally closes at 4:00 P.M., New York time, but may
close earlier on some days (for example, in case of weather
emergencies or on days falling before a holiday)." The existing
third sentence of that section is revised to read as follows:
"Trading may occur in debt securities and in foreign securities at
times when The New York Stock Exchange is closed, including weekends
and holidays, or after the close of the Exchange on a regular
business day."
2. The section entitled AccountLink on page 31 is revised by replacing
the text after the second sentence with the following: "Dividends
will begin to accrue on shares purchased by the proceeds of ACH
transfers on the business day the Fund receives Federal Funds for
the purchase through the ACH system before the close of The New York
Stock Exchange. The Exchange normally closes at 4:00 P.M., but may
close earlier on certain days. If Federal Funds are received on a
business day after the close of the Exchange, the shares will be
purchased and dividends will begin to accrue on the next regular
business day. The proceeds of ACH transfers are normally received
by the Fund 3 days after the transfers are initiated. The
Distributor and the Fund are not responsible for any delays in
purchasing shares resulting from delays in ACH transmissions."
3. The second sentence of the section entitled "Special Arrangements
for Repurchase of Shares from Dealers and Brokers" starting on page
36 is amended to read as follows: "The repurchase price per share
will be the net asset value next computed after the Distributor
receives the order placed by the dealer or broker, except that if
the Distributor receives a repurchase order from a dealer or broker
after the close of The New York Stock Exchange on a regular business
day, it will be processed at that day's net asset value if the order
was received by the dealer or broker from its customer prior to the
time the Exchange closes (normally, that is 4:00 P.M., but may be
earlier on some days) and the order was transmitted to and received
by the Distributor prior to its close of business that day (normally
5:00 P.M.)."
January 3, 1995
