OPPENHEIMER GOLD & SPECIAL MINERALS FUND
497, 2000-09-06
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                    OPPENHEIMER GOLD & SPECIAL MINERALS FUND
                     Supplement dated August 10, 2000 to the
                        Prospectus dated October 28, 1999

The Prospectus is changed as follows:

1.    The first  paragraph of the subsection  entitled  "Portfolio  Managers" on
      page 11 is revised in its entirety to read as follows:

         |X|      The portfolio manager of the Fund is Shanquan Li.
      Mr. Li is the person principally responsible for the day-to-day
      management of the Fund's portfolio. Mr. Li had been a
      co-portfolio manager of the Fund since July 1997.  Mr. Li is a
      Vice President of the Fund and of the Manager, and also serves as
      an officer and portfolio manager for other Oppenheimer funds.
      Prior to joining the Manager in July 1997, he was a senior
      quantitative analyst in the investment policy group of Brown
      Brothers Harriman & Co., and a consultant for Acadian Asset
      Management, Inc.

      2.    All references in the Prospectus to the "portfolio managers" are
      hereby changed to read, "portfolio manager."




August 10 , 2000                                                 PS0410.012rev


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