OPPENHEIMER GOLD & SPECIAL MINERALS FUND
Supplement dated July 14, 1995 to the
Prospectus dated November 1, 1994
The following changes are made to the Prospectus:
1. The supplement dated January 3, 1995 to the Prospectus is replaced
by this supplement.
2. Footnote 1 under the "Shareholder Transaction Expenses" chart in
"Expenses" on page 2 is changed to read as follows:
1. If you invest more than $1 million (more than $500,000 for
purchases by OppenheimerFunds prototype 401(k) plans) in shares
of the Fund, you may have to pay a sales charge of up to 1% if
you sell your shares within 18 calendar months from the end of
the calendar month in which you purchased those shares. See "How
to Buy Shares" below.
3. The paragraph under the section entitled "How to Buy Shares," on page
14 is changed to read as follows:
If you buy shares of the Fund, you may pay an initial sales
charge on investments up to $1 million (up to $500,000 for
purchases by OppenheimerFunds prototype 401(k) plans). If you
purchase Class A shares as part of an investment of at least $1
million ($500,000 for OppenheimerFunds prototype 401(k) plans)
in shares of one or more OppenheimerFunds, you will not pay an
initial sales charge, but if you sell any of those shares within
18 months of buying them, you may pay a contingent deferred
sales charge. The amount of that sales charge will vary
depending on the amount you invested. Sales charge rates are
described below.
4. The section entitled "At What Price Are Shares Sold?" on page 14 is
amended to change the time of day at which the net asset value is
determined, 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."
5. In "How to Buy Shares," the first paragraph of the section
"Contingent Deferred Sales Charge" on page 15 is amended in its entirety
to read as follows:
There is no initial sales charge on purchases of Class A shares
of any one or more of the OppenheimerFunds in the following
cases:
- purchases aggregating $1 million or more, or
- purchases by an OppenheimerFunds prototype 401(k)
plan that: (1) buys shares costing $500,000 or more
or (2) has, at the time of purchase, 100 or more
eligible participants, or (3) certifies that it
projects to have annual plan purchases of $200,000 or
more.
Shares of any of the OppenheimerFunds that offers only one
class of shares that has no designation are considered "Class
A shares" for this purpose. The Distributor pays dealers of
record commissions on those purchases in an amount equal to the
sum of 1.0% of the first $2.5 million, plus 0.50% of the next
$2.5 million, plus 0.25% of purchases over $5 million. That
commission will be paid only on the amount of those purchases
in excess of $1 million ($500,000 for purchases by
OppenheimerFunds 401(k) prototype plans) that were not
previously subject to a front-end sales charge and dealer
commission.
6. In "Reduced Sales Charges" on page 16, the first two sentences of the
second paragraph of the section "Right of Accumulation" are revised to
read as follows:
Additionally, you can add together current purchases of
Class A shares of the Fund and Class A and Class B shares of
other OppenheimerFunds to reduce the sales charge rate that
applies to current purchases of Class A shares. You can also
count Class A and Class B shares of OppenheimerFunds you
previously purchased subject to an initial or contingent
deferred sales charge to reduce the sales charge rate for
current purchases of Class A shares, provided that you still
hold that investment in one of the OppenheimerFunds.
7. The first sentence of the section entitled "Letter of Intent" on page
16 is revised to read as follows:
Under a Letter of Intent, if you purchase Class A shares of the
Fund and Class A and Class B shares of other OppenheimerFunds
during a 13-month period, you can reduce the sales charge rate
that applies to your purchases of Class A shares. The total
amount of your intended purchases of both Class A and Class B
shares will determine the reduced sales charge rate for the
Class A shares purchased during that period.
8. In the section entitled "Waivers of Sales Charges" on page 16, the
following changes are made:
The first sentence of the first paragraph is replaced by a new
introductory paragraph set forth below and the list of circumstances
describing the sales charge waivers follows a new initial sentence:
- Waivers of Sales Charges. Sales charges are not imposed in the
circumstances described below. There is an explanation of this
policy in "Reduced Sales Charges" in the Statement of Additional
Information.
Waivers of Initial and Contingent Deferred Sales Charges
for Certain Purchasers. Shares of the Fund purchased by the
following investors are not subject to any Class A sales
charges:
The introductory phrase preceding the list of sales charge waivers in the
second paragraph is replaced by the following:
Waivers of Initial and Contingent Deferred Sales Charges
in Certain Transactions. Shares of the Fund issued or purchased
in the following transactions are not subject to sales charges:
A new subsection (d) is added to the first sentence of the second
paragraph of that section as follows:
or, (d) shares purchased and paid for with the proceeds of
shares redeemed in the prior 12 months from a mutual fund (other
than a fund managed by the Manager or any of its subsidiaries)
on which an initial sales charge or contingent deferred sales
charge was paid (this waiver also applies to shares purchased
by exchange of shares of Oppenheimer Money Market Fund, Inc.
that were purchased and paid for in this manner); this waiver
must be requested when the purchase order is placed for your
shares of the Fund, and the Distributor may require evidence of
your qualification for this waiver.
The third paragraph of that section is revised to read as follows:
Waivers of the Contingent Deferred Sales Charge. The
contingent deferred sales charge does not apply to purchases of
shares of the Fund at net asset value without sales charge as
described in the two sections above. It is also waived if shares
that would otherwise be subject to the contingent deferred sales
charge are redeemed in the following cases:
- for retirement distributions or loans to participants or
beneficiaries from qualified retirement plans, deferred
compensation plans or other employee benefit plans, including
OppenheimerFunds prototype 401(k) plans (these are all referred
to as "Retirement Plans"); or
- to return excess contributions made to Retirement Plans; or
- to make Automatic Withdrawal Plan payments that are
limited annually to no more than 12% of the original account
value; or
- involuntary redemptions of shares by operation of law or
involuntary redemptions of small accounts (see "Shareholder
Account Rules and Policies," below); or
- if, at the time a purchase order is placed for Class A
shares that would otherwise be subject to the Class A contingent
deferred sales charge, the dealer agrees to accept the dealer's
portion of the commission payable on the sale in installments
of 1/18th of the commission per month (and no further commission
will be payable if the shares are redeemed within 18 months of
purchase); or
- for distributions from OppenheimerFunds prototype 401(k)
plans for any of the following cases or purposes: (1) following
the death or disability (as defined in the Internal Revenue
Code) of the participant or beneficiary (the death or disability
must occur after the participant's account was established); (2)
hardship withdrawals, as defined in the plan; (3) under a
Qualified Domestic Relations Order, as defined in the Internal
Revenue Code; (4) to meet the minimum distribution requirements
of the Internal Revenue Code; (5) to establish "substantially
equal periodic payments" as described in Section 72(t) of the
Internal Revenue Code, or (6) separation from service.
9. In the section entitled "Retirement Plans" on page 18, the following
is added to the list of plans offered by the Distributor:
- 401(k) prototype retirement plans for businesses
10. The section entitled "Selling Shares by Telephone" on page 19 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."
11. The section entitled "How To Exchange Shares" on page 19 is amended
by revising the first sentence in the first "bulleted" paragraph following
"Telephone Exchange Requests" 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."
12. The first sentence of the section entitled "Net Asset Value Per
Share" under "Shareholder Account Rules and Policies" on page 20 is
revised to read as follows: "Net Asset Value Per Share is determined 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 by the number of shares of
the Fund that are outstanding.
July 14, 1995 PS0410.002
