OPPENHEIMER NEW YORK MUNICIPAL FUND
497, 2000-06-28
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                       OPPENHEIMER NEW YORK MUNICIPAL FUND

                      Supplement dated June 26, 2000 to the

                        Prospectus dated January 21, 2000

The Prospectus is changed as follows:

1. The second sentence of the first  paragraph in the section  entitled "Class A
Contingent Deferred Sales Charge" on page 17 is revised to read as follows:

The Distributor  pays dealers of record  commissions in an amount equal to 0.50%
of purchases of $1 million or more (other than purchases by retirement accounts,
which are not permitted in the Fund).






June 26, 2000                                                    PS0360.011





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