OPPENHEIMER DISCOVERY FUND
497, 1994-04-12
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                        OPPENHEIMER DISCOVERY FUND
                      Supplement dated April 12, 1994
                   to the Prospectus dated April 1, 1994

The Prospectus is amended as follows:

To correct a printing error, the sales charge table appearing on page 12
of the Prospectus is replaced in its entirety with the following:
- ------------------------------------------------------------------------
<TABLE>
<CAPTION>
Amount of Purchase             Front-End        Front-End        Commission
                               Sales Charge     Sales Charge     as
                               as               as               Percentage
                               Percentage       Approximate      of Offering
                               of Offering      Percentage       Price
                               Price            Of Amount
                                                Invested
<S>                            <C>              <C>              <C>
- -------------------------------------------------------------------------
Less than $25,000              5.75%            6.10%            4.75%
- -------------------------------------------------------------------------
$25,000 or more but less
than $50,000                   5.50%            5.82%            4.75%
- -------------------------------------------------------------------------
$50,000 or more but less
than $100,000                  4.75%            4.99%            4.00%
- -------------------------------------------------------------------------
$100,000 or more but less
than $250,000                  3.75%            3.90%            3.00%
- -------------------------------------------------------------------------
$250,000 or more but less
than $500,000                  2.50%            2.56%            2.00%
- -------------------------------------------------------------------------
$500,000 or more but less
than $1 million                2.00%            2.04%            1.60%
- -------------------------------------------------------------------------
$1 million or more             None*            None*            None*
- -------------------------------------------------------------------------
*  See "Class A Contingent Deferred Sales Charge," below.

</TABLE>

April 12, 1994                                                      PS501


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