OPPENHEIMER GOLD & SPECIAL MINERALS FUND
Supplement dated January 1, 1997 to the
Prospectus dated October 18, 1996
The Prospectus is changed as follows:
1. In addition to paying dealers the regular commission for (1) sales of Class A
shares stated in the sales charge table in "Buying Class A Shares" on page 27,
(2) sales of Class B shares described in the fifth paragraph in "Distribution
and Service Plans for Class B and Class C Shares" on page 34, and (3) sales of
Class C shares described in the fifth paragraph in "Distribution and Service
Plans for Class B and Class C Shares" on page 34, the Distributor will pay
additional commission to each broker, dealer and financial institution that has
a sales agreement with the Distributor and agrees to accept that additional
commission (these are referred to as "participating firms") for Class A, Class B
and Class C shares of the Fund sold in "qualifying transactions" (the
"promotion"). The additional commission will be 1.00% of the offering price of
shares of the Fund sold by a registered representative or sales representative
of a participating firm during the promotion. If the additional commission is
paid on the sale of Class A shares of $500,000 or more or the sale of Class A
shares to a SEP IRA with 100 or more eligible participants and those shares are
redeemed within 13 months from the end of the month in which they were
purchased, the participating firm will be required to return the additional
commission.
"Qualifying transactions" are aggregate sales of $150,000 or more of Class
A, Class B and/or Class C shares of any one or more of the Oppenheimer funds
(except money market funds and municipal bond funds) for rollovers or
trustee-to-trustee transfers from another retirement plan trustee, of IRA assets
or other employee benefit plan assets from an account or investment other than
an account or investment in the Oppenheimer funds to (1) IRAs, rollover IRAs,
SEP IRAs and SAR-SEP IRAs, using the OppenheimerFunds, Inc. prototype IRA
agreement, if the rollover contribution is received during the period from
January 1, 1997 through April 15, 1997 (the "promotion period"), or the
acceptance of a direct rollover or trustee-to-trustee transfer is acknowledged
by the trustee of the OppenheimerFunds prototype IRA during the promotion
period, and (2) IRAs, rollover IRAs, SEP IRAs and SAR-SEP IRAs using the A.G.
Edwards & Sons, Inc. prototype IRA agreement, if the rollover contribution or
trustee-to-trustee payment is received during the promotion period. "Qualifying
transactions" do not include (1) purchases of Class A shares intended but not
yet made under a Letter of Intent, and (2) purchases of Class A, Class B and/or
Class C shares with the redemption proceeds from an existing Oppenheimer funds
account.
2. The first paragraph of the section captioned "Class A Contingent Deferred
Sales Charge" in "Buying Class A Shares" on page 27, is revised by adding the
following subparagraph:
o Purchases by a retirement plan qualified under section 401(a) if the
retirement plan has total plan assets of $500,000 or more.
January 1, 1997 PS0410.007
