OPPENHEIMER DISCOVERY FUND
Supplement dated September 19, 1994 to the
Prospectus dated April 1, 1994
The Prospectus is amended as follows:
1. The fourth paragraph under the caption "Management of the Fund" on
page 10 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 was Portfolio Manager of the Fund
and Oppenheimer Time 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
Statement of Additional Information.
September 19, 1994 PS500
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OPPENHEIMER DISCOVERY FUND
Supplement dated September 19, 1994 to the
Statement of Additional Information dated April 1, 1994
1. The following is added on page 16 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).
2. The biography of Mr. LaRocco on page 16 under the heading "Trustees
and Officers" is replaced by the following:
PAUL LAROCCO, Associate Portfolio Manager
Assistant Vice President of the Manager; an Associate Portfolio
Manager of Oppenheimer Time 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 SAI500
