OPPENHEIMER MONEY MARKET FUND INC
497, 1998-08-06
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                     OPPENHEIMER MONEY MARKET FUND, INC.
                    Supplement dated August 6, 1998 to the
         Statement of Additional Information dated November 26, 1997


This  Supplement  to  the  Statement  of  Additional  Information  replaces  the
Supplement  dated  June  15,  1998  and  changes  the  Statement  of  Additional
Information as follows:

1. The  Fund's  address  as  shown on the  front  and  back  cover  pages of the
Statement of Additional  Information (Two World Trade Center, New York, New York
10048-0203)  is deleted  and  replaced  with the  correct  address of 6803 South
Tucson Way, Englewood, Colorado 80112.

2. The following new sentence is included as the fourth  sentence in the section
entitled "Directors and Officers of the Fund" on page 7:

      All of the officers except Ms. Wolf and Mr. Zimmer hold similar positions
      with each of the Denver Oppenheimer funds.

3. Add the  following  biography  under  the  section  entitled  "Directors  and
Officers of the Fund" on page 10:

      ARTHUR J. ZIMMER, Vice President and Portfolio Manager, Age 51
      6803 South Tucson Way, Englewood, Colorado 80112
      Vice President of the Manager and Centennial; an officer of other
      Oppenheimer funds.

4. The third  sentence of the fourth  paragraph in the section  entitled "How To
Exchange Shares" on page 23 is modified to read 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 30 days prior
      to that  purchase  may  subsequently  be  exchanged  for  shares  of other
      Oppenheimer funds

                                                      (continued)


<PAGE>


      without being subject to an initial or contingent  deferred  sales charge,
      whichever is applicable.

5.  Effective  June 1, 1998,  the last  sentence of the fourth  paragraph in the
section  entitled  "How to  Exchange  Shares"  on page 23 is  revised to read as
follows:

      However, if Class A shares acquired by exchange of Class A shares of other
      Oppenheimer funds purchased subject to a Class A contingent deferred sales
      charge are redeemed  within 18 months of the end of the calendar  month of
      the initial purchase of the exchanged Class A shares, a Class A contingent
      deferred  sales  charge is imposed on the  redeemed  shares.  (A different
      holding period may apply to shares purchased prior to June 1, 1998).

6. The list of  Corporate  Industry  Classifications  (Exhibit B) on page B-1 is
modified by including the following new classification: Asset Backed.

August 6, 1998                                              PX0200.005


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