OPPENHEIMER TIME FUND
Supplement dated September 19, 1994 to the Prospectus
dated October 1, 1993
The Prospectus is amended as follows:
1. This supplement supersedes and replaces the supplement to the
Prospectus dated July 1, 1994.
2. The Fund's shareholders have approved a Service Plan under Rule
12b-1 of the Investment Company Act of 1940 that applies to all shares of
the Fund, regardless of the date on which the shares were purchased. The
Service Plan is effective July 1, 1994. The table on page 2 under the
caption "Annual Fund Operating Expenses" is deleted and replaced with the
following table that shows the Fund's Annual Operating Expenses as if the
Service Plan, effective as of July 1, 1994, had been in effect for the
Fund's fiscal year ended June 30, 1993. The actual expense for 12b-1 fees
were 0.04% of average net assets.
Annual Fund Operating Expenses (Restated)
(as a percentage of average net assets)
Management Fees 0.74%
12b-1 Service Plan Fees (restated) 0.15%
Other Expenses 0.22%
Total Fund Operating Expenses (restated) 1.11%
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3. The hypothetical example on page 2 is deleted and replaced with the
following:
- Examples. To try to show the effect of these expenses on an
investment over time, we have created the hypothetical example shown
below. Assume that you make a $1,000 investment in the Fund, and that
the Fund's annual return is 5%, and that its operating expenses are as
shown (restated) in the chart above. If you were to redeem your shares
at the end of each period shown below, your investment would incur the
following expenses by the end of each period shown:
1 year 3 years 5 years 10 years
$68 $91 $115 $185
This example shows the effect of expenses on an investment, but are
not meant to state or predict actual or expected costs or investment
returns of the Fund, all of which will vary.
4. The second paragraph under the caption "Management of the Fund" on
page 8 is deleted in its entirety and replaced with the following:
Jay W. Tracey III is the Portfolio Manager of the Fund,
and became the Portfolio Manager and the person
principally responsible for the day-to-day management of
the Fund's portfolio on September 19, 1994. He is also a
Vice President of the Manager. From February 1994 through
September 1994, Mr. Tracey was a Managing Director of
Buckingham Capital Management, prior to which he had been
the Portfolio Manager of the Fund and Oppenheimer
Discovery Fund and a Vice President of the Manager. Prior
to that, he was a Senior Vice President of Founders Asset
Management, Inc. (a mutual fund adviser), prior to which
he was a securities analyst and portfolio manager for
Berger Associates, Inc. (investment adviser). For more
information about the Fund's other Officers and Trustees,
see "Trustees and Officers" in the Additional Statement.
5. The first sentence of the second paragraph under the caption
Service Plan on page 14 is revised by deleting the phrase "which are
attributable to sales made on and after April 1, 1991". In addition, the
second sentence in the third paragraph under that caption is deleted.
September 19, 1994
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OPPENHEIMER TIME FUND
Supplement dated September 19, 1994 to the
Statement of Additional Information dated October 1, 1993
1. The supplement dated June 16, 1994 to the Statement of Additional
Information is replaced by this supplement.
2. The following replaces the biography of Jay W. Tracey III on page
14 under the heading "Trustees and Officers":
JAY W. TRACEY III, Portfolio Manager
Vice President of the Manager; portfolio manager of
other OppenheimerFunds; from February 1994 through
September 1994, he was a Managing Director of
Buckingham Capital Management, prior to which he was
Portfolio Manager and Vice President of the Fund and
other OppenheimerFunds and a Vice President of the
Manager. Before that he was Senior Vice President of
Founders Asset Management, Inc. (a mutual fund
adviser), prior to which he was a securities analyst
and portfolio manager for Berger Associates, Inc.
(investment adviser).
3. The following is added after Mr. Tracey's biography on page 14 under
the heading "Trustees and Officers":
PAUL LAROCCO, Associate Portfolio Manager
Assistant Vice President of the Manager; an Associate
Portfolio Manager of Oppenheimer Discovery Fund and
Portfolio Manager of Oppenheimer Variable Account Funds-
Capital Appreciation Fund; formerly Acting Portfolio
Manager of the Fund; previously a Securities Analyst with
Columbus Circle Investors, prior to which he was an
Investment Analyst for Chicago Title & Trust Co.
September 19, 1994
