OPPENHEIMER U.S. GOVERNMENT TRUST
Supplement dated July 1, 1994 to the Prospectus
dated October 25, 1993
The Prospectus is amended as follows:
1. The supplement dated October 25, 1993 and the supplement dated January
1, 1994 to the Prospectus are hereby replaced.
2. The Manager has voluntarily reduced the management fee the Fund pays
to the Manager. The table on page 2 under the caption "Annual Fund
Operating Expenses" is deleted and replaced with the following table that
shows the Fund's Annual Operating Expenses as if the voluntary reduction
of the management fee had been in effect for the Fund's fiscal year ended
June 30, 1993.
Class A Class C
Shares Shares
Management Fees (restated) 0.62% 0.62%
12b-1 Distribution and/or Service
Plan Fees 0.24%* 1.00%**
Other Expenses 0.21% 0.21%
Total Fund Operating Expenses 1.07% 1.83%
*Service Plan fees only.
**Includes Service Plan fee and asset-based sales charge.
3. The following is added after the seventh sentence in the paragraph
following the table captioned "Annual Fund Operating Expenses":
"The Annual Fund Operating Expenses shown are net of a voluntary
reduction of the management fees by the Manager. Without such reduction
by the Manager, the management fees for Class A shares and Class C shares
would have been 0.72% of average annual net assets for each class and
"Total Fund Operating Expenses" for Class A shares and Class C shares
would have been 1.17% and 1.93%, respectively. The reduction of the
management fee is described in the Statement of Additional Information and
may be modified or withdrawn by the Manager at any time."
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4. The second paragraph following the table captioned "Annual Fund
Operating Expenses" is hereby deleted and replaced with the following:
"The following example applies the above-stated expenses, as
restated, and the current maximum sales charge to a hypothetical $1,000
investment in shares of the Fund over the time periods shown below,
assuming a 5% annual rate of return on the investment. The amounts shown
below are the cumulative costs of such hypothetical $1,000 investment for
the periods shown and, except as indicated in lines 3 and 4, assume that
the shares are redeemed at the end of each stated period.
1 year 3 years 5 years 10 years(1)
1.Class A shares $58 $80 $104 $172
2.Class C shares $29 $58 $99 $215
3.Class A shares, assuming no
redemption $58 $80 $104 $172
4.Class C shares, assuming no
redemption $19 $58 $99 $215
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(1) Long-term shareholders of Class C shares could pay the economic
equivalent, through the asset-based sales charge imposed on Class C
shares, of more than the maximum front-end sales charges permitted under
applicable regulatory requirements."
5. The following is added after the third sentence of the second
paragraph under the caption "Management of the Fund" on page 8:
"The Manager is voluntarily reducing that management fee by reducing
the rate at each breakpoint by .05% effective January 1, 1994, and by an
additional .05% effective July 1, 1994. It is expected that at the next
Fund shareholders meeting, a new investment advisory agreement, including
these reduced rates, will be presented to shareholders for approval."
6. The following replaces the third paragraph under the caption
"Management of the Fund" on page 8:
"David Rosenberg is Vice President and Portfolio Manager of the Fund
and has been the person principally responsible for the day-to-day
management of the Fund's portfolio since January 3, 1994. Mr. Rosenberg
is a Vice President of the Manager and also serves as an officer and
portfolio manager for another of the OppenheimerFunds. During the past
five years, Mr. Rosenberg was previously an officer and portfolio manager
for Delaware Investment Advisors and for one of its mutual funds. For more
information about the Fund's other officers and trustees, see "Trustees
and Officers" in the Additional Statement."
July 1, 1994 PS220
