OPPENHEIMER INSURED MUNICIPAL FUND
Supplement dated July 13, 2000 to the
Prospectus dated January 28, 2000
On February 29, 2000, the Board of Trustees of Oppenheimer Municipal
Fund on behalf of its series, Oppenheimer Insured Municipal Fund ("Insured
Municipal Fund") approved, subject to the approval by shareholders of Insured
Municipal Fund, an Agreement and Plan of Reorganization (the "Plan") with
Oppenheimer Municipal Bond Fund ("Municipal Bond Fund") pursuant to which
Insured Municipal Fund would be reorganized with and into Municipal Bond Fund.
It is anticipated that a proxy statement will be sent to shareholders of
Insured Municipal Fund in late August.
July 13, 2000 PS0865.013
