OPPENHEIMER DISCOVERY FUND, 497, 1995-01-26

OPPENHEIMER DISCOVERY FUND
497, 1995-01-26

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                                   OPPENHEIMER DISCOVERY FUND
                       Supplement Dated January 17, 1995 to the Prospectus
                                     Dated January 17, 1995

                             For Residents of the State of Missouri


      In its operations, the Fund may use the following special techniques
when such use appears appropriate: leverage (borrowing to purchase
securities) and short-term trading.  These techniques may be considered
to be speculative investment methods and may subject an investment in the
Fund to relatively greater risks and costs than an investment in a mutual
fund that does not utilize such techniques.

January 17, 1995                                           PS0500.501