OPPENHEIMER MULTIPLE STRATEGIES FUND/VA
A Series of Oppenheimer Variable Account Funds
Supplement dated January 16, 2001 to the
Prospectus dated May 1, 2000
The Prospectus is changed as follows: The section captioned "Portfolio
Manager" on page 8 is deleted and replaced with the following:
|X| Portfolio Manager. The Fund's management team includes two portfolio
managers: Richard H. Rubinstein and Michael Levine. Each is a Vice President of
the Fund, and each serves as an officer and manager of other Oppenheimer funds.
They are the persons principally responsible for the day-to-day management of
the Fund's portfolio. Mr. Rubinstein, who is a Senior Vice President of the
Manager, has been a portfolio manager of the Fund since April 1991. Mr.
Rubinstein has been a portfolio manager of the Manager since June 1990. Mr.
Levine, who is a Vice President of the Manager, has been a portfolio manager of
the Fund since August 1998 and a portfolio manager of the Manager since April
1996; he joined the Manager as an analyst in June 1994.
January 16, 2001 PS0670.001
