OPPENHEIMER GLOBAL FUND
Supplement dated September 25, 1998 to the
Prospectus dated January 29, 1998
The Prospectus is changed as follows:
1. The Supplement dated May 15, 1998 is replaced by this Supplement.
2. Footnote number 1 under the table entitled "Shareholder Transaction
Expenses" on page 3 is modified to read as follows:
(1) If you invest $1 million or more ($500,000 or more for purchases by
"Retirement Plans" as defined in "Class A Contingent Deferred Sales
Charge" on page 29) in Class A shares, 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 during which you purchased those
shares. See "How to Buy Shares -- Buying Class A Shares," below.
3. The following paragraphs should be added as the sixth and seventh
paragraphs on page 13 within the section captioned "Investment Objective and
Policies" under "Foreign Securities":
Risks of Conversion to Euro. On January 1, 1999, eleven countries
in the European Monetary Union will adopt the euro as their
official currency. However, their current currencies (for example,
the franc, the mark, and the lire) will also continue in use until
January 1, 2002. After that date, it is expected that only the euro
will be used in those countries. A common currency is expected to
confer some benefits in those markets, by consolidating the
government debt market for those countries and reducing some
currency risks and costs. But the conversion to the new currency
will affect the Fund operationally and also has potential risks,
some of which are listed below.
Among other things, the conversion will affect:
continued
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o issuers in which the Fund invests, because of changes in the
competitive environment from a consolidated currency market and
greater operational costs from converting to the new currency. This
might depress stock values.
o vendors the Fund depends on to carry out its business, such as
its Custodian (which holds the foreign securities the Fund buys),
the Manager (which must price the Fund's investments to deal with
the conversion to the euro) and brokers, foreign markets and
securities depositories. If they are not prepared, there could be
delays in settlements and additional costs to the Fund.
o exchange contracts and derivatives that are outstanding during
the transition to the euro. The lack of currency rate calculations
between the affected currencies and the need to update the Fund's
contracts could pose extra costs to the Fund.
The Manager is upgrading (at its expense) its computer and
bookkeeping systems to deal with the conversion. The Fund's
Custodian has advised the Manager of its plans to deal with the
conversion, including how it will update its record keeping systems
and handle the redenomination of outstanding foreign debt. The
Fund's portfolio manager will also monitor the effects of the
conversion on the issuers in which the Fund invests. The possible
effect of these factors on the Fund's investments cannot be
determined with certainty at this time, but they may reduce the
value of some of the Fund's holdings and increase its operational
costs.
4. The second sentence of the paragraph entitled "Class A Shares" in the section
entitled "How to Buy Shares -- Classes of Shares" on page 24 is modified to read
as follows:
If you purchase Class A shares as part of an investment of at least $1
million ($500,000 for Retirement Plans) in shares of one or more
Oppenheimer funds, 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, described below.
continued
5. The first and second sentences of the third paragraph of the section entitled
"Buying Class A Shares -- Class A Contingent Deferred Sales Charge" on page 29
are modified to read as follows:
If you redeem any Class A shares subject to the contingent deferred sales
charge described above within 18 months of the end of the calendar month
of their purchase, a contingent deferred sales charge (called the "Class A
contingent deferred sales charge") may be deducted from the redemption
proceeds. (A different holding period may apply to shares purchased prior
to June 1, 1998).
6. The second sentence of the fifth paragraph of the section entitled "Buying
Class A Shares -- Class A Contingent Deferred Sales Charge" on page 30 is
modified to read as follows:
However, if the shares acquired by exchange are redeemed within 18 months
of the end of the calendar month of the purchase of the exchanged shares,
the contingent deferred sales charge will apply. (A different holding
period may apply to shares purchased prior to June 1, 1998).
7. The paragraph entitled "Special Arrangements With Dealers" on page 30 is
hereby deleted.
8. The following sub-paragraphs of the section entitled "Waivers of Class A
Sales Charges" on page 33 are deleted:
if, at the time of purchase of shares (if purchased prior to May
1, 1997) the dealer agreed in writing to accept the dealers portion
of the sales commission 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)
if, at the time of purchase of shares (if purchased during the
period May 1, 1997 through December 31, 1997) the dealer agreed in
writing to accept the dealers portion of the sales commission in
installments of 1/12th of the commission per month (and no further
commission will be payable if the shares are redeemed within 12
months of purchase)
continued
9. The following paragraph replaces the existing sub-section captioned
"OppenheimerFunds Internet Web Site" on page 39:
OppenheimerFunds Internet Web Site. Information about the Fund, including
your account balance, daily share prices, market and Fund portfolio
information, may be obtained by visiting the OppenheimerFunds Internet Web
Site, at the following Internet address: http://www.oppenheimerfunds.com.
Additionally, certain account transactions may be requested by any
shareholder listed in the registration on an account as well as by the
dealer representative of record through a special section of that Web
Site. To access that section of the Web Site you must first obtain a
personal identification number ("PIN") by calling OppenheimerFunds
PhoneLink at 1-800-533-3310. If you do not wish to have Internet account
transactions capability for your account, please call our customer service
representatives at 1-800-525-7048. To find out more information about
Internet transactions and procedures, please visit the Web Site.
10. The last sentence of the sub-section captioned "Loans of Portfolio
Securities" on page 15 is revised to read as follows:
The Fund presently does not intend that the value of the securities loaned
in the current fiscal year will exceed 10% of the value of the Fund's total
assets.
September 25, 1998 PS0330.021
