OPPENHEIMER GOLD & SPECIAL MINERALS FUND
Supplement dated July 14, 1995 to the
Statement of Additional Information dated November 1, 1994
The Statement of Additional Information is amended as follows:
1. The supplement dated January 3, 1995 to the Statement of Additional
Information is replaced by this supplement.
2. The first sentence of the section entitled "Determination of Net
Asset Values Per Share" under "How To Buy Shares" on page 27 is amended
to read as follows, and a new second sentence is added to that section as
follows:
The net asset value per share of the Fund is determined as of the
close of business of The New York Stock Exchange (the "NYSE") on
each day that the NYSE is open by dividing the Fund's net assets by
the number of shares of the Fund that are outstanding. The NYSE
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).
3. The section entitled "AccountLink" on page 29 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 three 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.
4. In the section entitled "Letters of Intent" on page 30, the first
three sentences of the first paragraph in that section are replaced by the
following:
A Letter of Intent (referred to as a "Letter") is an investor's
statement in writing to the Distributor of the intention to purchase
shares of the Fund (and Class A and Class B shares of other
OppenheimerFunds) during a 13-month period (the "Letter of Intend
period"), which may, at the investor's request, include purchases
made up to 90 days prior to the date of the Letter. The Letter
states the investor's intention to make the aggregate amount of
purchases of shares which, when added to the investor's holdings of
shares of those funds, will equal or exceed the amount specified in
the Letter. Purchases made by reinvestment of dividends or
distributions of capital gains and purchases made at net asset value
without sales charge do not count toward satisfying the amount of
the Letter. A Letter enables an investor to count the Class A and
Class B shares purchased under the Letter to obtain the reduced
sales charge rate on purchases of Class A shares of the Fund (and
other OppenheimerFunds) that applies under the Right of Accumulation
to current purchases of Class A shares.
5. In the section entitled "Letters of Intent" on page 30, a new third
paragraph is added as follows:
For purchases of shares of the Fund and other OppenheimerFunds by
OppenheimerFunds prototype 401(k) plans under a Letter of Intent,
the Transfer Agent will not hold shares in escrow. If the intended
purchase amount under the Letter entered into by an OppenheimerFunds
prototype 401(k) plan is not purchased by the plan by the end of the
Letter of Intent period, there will be no adjustment of commissions
paid to the broker-dealer or financial institution of record for
accounts held in the name of that plan.
6. In the section entitled "Terms of Escrow That Apply to Letters of
Intent" on page 31, item 5 of that section is replaced by the following:
5.The shares eligible for purchase under the Letter (or the holding
of which may be counted toward completion of a Letter) include (a)
Class A shares sold with a front-end sales charge or subject to a
Class A contingent deferred sales charge, (b) Class B shares
acquired subject to a contingent deferred sales charge, and (c)
Class A or B shares acquired by reinvestment of dividends and
distributions or acquired in exchange for either (i) Class A shares
of one of the other OppenheimerFunds that were acquired subject to
a Class A initial or contingent deferred sales charge or (ii) Class
B shares of one of the other OppenheimerFunds that were acquired
subject to a contingent deferred sales charge.
7. In the section entitled "Distributions from Retirement Plans" on
page 34, the phrase "401(k) plans" is added after "403(b)(7) custodial
plans" in the first sentence, and the third sentence of that section is
revised to read as follows:
Participants (other than self-employed persons maintaining a plan
account in their own name) in OppenheimerFunds-sponsored prototype
pension, profit-sharing or 401(k) plans may not directly redeem or
exchange shares held for their account under those plans.
8. In the section entitled "Special Arrangements for Repurchase of
Shares from Dealers and Brokers" on page 34, the second and third
sentences of that section are revised 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.). Ordinarily, for accounts redeemed by a broker-dealer under
this procedure, payment will be made within three business days
after the shares have been redeemed upon the Distributor's receipt
the required redemption documents in proper form, with the
signature(s) of the registered owners guaranteed on the redemption
document as described in the Prospectus.
9. In the section entitled "How To Exchange Shares" on page 36, the
second paragraph is changed by adding new third and fourth sentences as
follows:
However, shares of Oppenheimer Money Market Fund, Inc. purchased
with the redemption proceeds of shares of other mutual funds (other
than funds managed by the Manager or its subsidiaries) redeemed
within the 12 months prior to that purchase may subsequently be
exchanged for shares of other OppenheimerFunds without being subject
to an initial or contingent deferred sales charge, whichever is
applicable. To qualify for that privilege, the investor or the
investor's dealer must notify the Distributor of eligibility for
this privilege at the time the shares of Oppenheimer Money Market
Fund, Inc. are purchased, and, if requested, must supply proof of
entitlement to this privilege.
July 14, 1995 PX0410.002
