(logo)OPPENHEIMERFUNDS
Denis Mouller OppenheimerFund, Inc.
Vice President and Two World Trade Center, 34th Floor
Associate Counsel New York, New York 10048-0203
212 323-2000 Fax 212 323-0558
October 18, 1996
Securities and Exchange Commission
OFICS File Support
Mail Stop O-7, SEC Operations Center
6432 Alexandria, VA 22312
Re: Oppenheimer New York Municipal Fund
Reg. No. 2-91683 File No. 811-4054
To the Securities and Exchange Commission:
An electronic ("Edgar") filing is hereby made under Rule 497(e) of the
Securities Act of 1933 on behalf of the above-captioned Fund. The filing
includes a supplement dated October 18, 1996 to the Fund's Prospectus dated
February 1, 1996.
Very truly yours,
/s/ Denis Molleur
------------------
Denis Molleur
Vice President &
Associate Counsel
(212) 323-0560
DM
cc: Ronald Feiman, Esq.
KPMG Peat Marwick LLP
Gloria LaFond
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OPPENHEIMER NEW YORK MUNICIPAL FUND
(formerly Oppenheimer New York Tax-Exempt Fund
Supplement dated October 18, 1996
to the Prospectus dated February 1, 1996
The second paragraph in the section captioned "Class A Contingent
Deferred Sales Charge" on page 28 is revised by replacing the second and third
sentences with the following sentences:
The Distributor pays dealers of record commissions on those
non- retirement plan purchases in an amount equal to 1.0%. That
commission will be paid only on the amount of those purchases that were
not previously subject to a front-end sales charge and dealer
commission.
October 18, 1996 PS0360.002
