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Previous: WATSON GENERAL CORP, 8-K, 1997-12-30 |
Next: NUTRAMAX PRODUCTS INC /DE/, NT 10-K, 1997-12-30 |
<PAGE> PAGE 1
000 B000000 10/31/97
000 C000000 0000817982
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 OPPENHEIMER QUEST FOR VALUE FUNDS
001 B000000 811-5225
001 C000000 2123230200
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
002 D020000 0203
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C010200 2
007 C020200 QUEST SMALL CAP VALUE FUND
007 C030200 N
007 C010300 3
007 C020300 QUEST OPPORTUNITY VALUE FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C020900 QUEST GROWTH & INCOME VALUE FUND
007 C030900 N
007 C011000 10
007 C021000 QUEST OFFICERS VALUE FUND
007 C031000 N
020 A000001 OPPENHEIMER & CO., INC.
020 B000001 13-2798343
020 C000001 1120
020 A000002 FIRST BOSTON CORP. (THE)
020 B000002 13-5659485
020 C000002 272
020 A000003 COWEN & CO.
020 B000003 13-5616116
020 C000003 182
020 A000004 ROYAL ALLIANCE ASSOCIATES, INC.
<PAGE> PAGE 2
020 B000004 93-0987232
020 C000004 159
020 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000005 13-5674085
020 C000005 126
020 A000006 DONALDSON, LUFKIN & JENRETTE SECURITIES
020 B000006 13-2741729
020 C000006 86
020 A000007 PAINE WEBBER, INC.
020 B000007 13-2638166
020 C000007 86
020 A000008 MORGAN STANLEY & CO., INC.
020 B000008 13-2655998
020 C000008 84
020 A000009 SUNAMERICA SECURITIES, INC.
020 B000009 86-0273618
020 C000009 81
020 A000010 BEAR STEARNS
020 B000010 13-3299429
020 C000010 80
021 000000 3417
022 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000001 13-5674085
022 C000001 1151283
022 D000001 42293
022 A000002 HONG KONG & SHANGHAI BANK
022 B000002 FOREIGN
022 C000002 1177770
022 D000002 5825
022 A000003 OPPENHEIMER & CO., INC.
022 B000003 13-2798343
022 C000003 769415
022 D000003 231805
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
022 C000004 461642
022 D000004 3755
022 A000005 FIRST BOSTON CORP. (THE)
022 B000005 13-5659485
022 C000005 174578
022 D000005 77222
022 A000006 ROYAL ALLIANCE ASSOCIATES, INC.
022 B000006 93-0987232
022 C000006 118780
022 D000006 49370
022 A000007 COWEN & CO.
022 B000007 13-5616116
022 C000007 95753
022 D000007 47777
022 A000008 MORGAN STANLEY & CO., INC.
022 B000008 13-2655998
<PAGE> PAGE 3
022 C000008 62243
022 D000008 22229
022 A000009 COMMONWEALTH ASSOCIATES
022 B000009 UNKNOWN
022 C000009 64994
022 D000009 10357
022 A000010 MORGAN (JP) SECURITIES, INC.
022 B000010 13-3224016
022 C000010 74847
022 D000010 0
023 C000000 5985116
023 D000000 735243
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 Y
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE CO.
080 C00AA00 85000
081 A00AA00 Y
081 B00AA00 93
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
028 A010200 11752
028 A020200 0
028 A030200 0
028 A040200 2223
028 B010200 17506
028 B020200 0
028 B030200 0
<PAGE> PAGE 4
028 B040200 5577
028 C010200 14590
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028 C030200 0
028 C040200 6673
028 D010200 16917
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028 D030200 0
028 D040200 5261
028 E010200 28582
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028 E030200 0
028 E040200 5966
028 F010200 27028
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028 F040200 9704
028 G010200 116374
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028 H000200 30339
029 000200 Y
030 A000200 765
030 B000200 5.75
030 C000200 0.00
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032 000200 545
033 000200 0
034 000200 Y
035 000200 99
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<PAGE> PAGE 5
048 B020200 0.900
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<PAGE> PAGE 6
070 F010200 Y
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<PAGE> PAGE 7
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<PAGE> PAGE 8
028 A030300 0
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<PAGE> PAGE 9
047 000300 Y
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<PAGE> PAGE 10
070 C020300 N
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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028 F041300 0
028 G011300 0
028 G021300 0
028 G031300 0
028 G041300 0
028 H001300 0
SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Officers Value Fund
<SERIES>
<NUMBER> 10
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 12-MOS
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<PERIOD-END> OCT-31-1997
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<EQUALIZATION> 0
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<NUMBER-OF-SHARES-REDEEMED> 427,833
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<NET-CHANGE-IN-ASSETS> (3,963,503)
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Opportunity Value Fund-A
<SERIES>
<NUMBER> 3
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Opportunity Value Fund-B
<SERIES>
<NUMBER> 3
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Opportunity Value Fund-C
<SERIES>
<NUMBER> 3
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 12-MOS
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<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Opportunity Value Fund-Y
<SERIES>
<NUMBER> 3
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 10-MOS
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Small Cap Value Fund - Class A
<SERIES>
<NUMBER> 2
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 12-MOS
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Small Cap Value Fund - Class B
<SERIES>
<NUMBER> 2
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Small Cap Value Fund - Class C
<SERIES>
<NUMBER> 2
<NAME> Oppenheimer Quest for Value Funds
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<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Growth & Income Value Fund - A
<SERIES>
<NUMBER> 9
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Oct-31-1997
<PERIOD-START> Nov-01-1996
<PERIOD-END> Oct-31-1997
<INVESTMENTS-AT-COST> 102,809,131
<INVESTMENTS-AT-VALUE> 111,513,033
<RECEIVABLES> 3,289,293
<ASSETS-OTHER> 4,821
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 114,807,147
<PAYABLE-FOR-SECURITIES> 2,545,039
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 214,389
<TOTAL-LIABILITIES> 112,047,719
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 88,456,583
<SHARES-COMMON-STOCK> 5,699,813
<SHARES-COMMON-PRIOR> 3,952,924
<ACCUMULATED-NII-CURRENT> 261,830
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,625,404
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,703,902
<NET-ASSETS> 79,751,227
<DIVIDEND-INCOME> 530,991
<INTEREST-INCOME> 2,256,457
<OTHER-INCOME> 0
<EXPENSES-NET> 1,493,699
<NET-INVESTMENT-INCOME> 1,293,749
<REALIZED-GAINS-CURRENT> 14,740,001
<APPREC-INCREASE-CURRENT> 2,797,779
<NET-CHANGE-FROM-OPS> 18,831,529
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 922,387
<DISTRIBUTIONS-OF-GAINS> 4,518,417
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,557,883
<NUMBER-OF-SHARES-REDEEMED> 1,256,481
<SHARES-REINVESTED> 445,487
<NET-CHANGE-IN-ASSETS> 46,741,538
<ACCUMULATED-NII-PRIOR> 120,291
<ACCUMULATED-GAINS-PRIOR> 6,500,367
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 726,006
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,493,699
<AVERAGE-NET-ASSETS> 61,618,000
<PER-SHARE-NAV-BEGIN> 12.48
<PER-SHARE-NII> 0.20
<PER-SHARE-GAIN-APPREC> 2.65
<PER-SHARE-DIVIDEND> 0.19
<PER-SHARE-DISTRIBUTIONS> 1.15
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.99
<EXPENSE-RATIO> 1.58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Growth & Income Value Fund - B
<SERIES>
<NUMBER> 9
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Oct-31-1997
<PERIOD-START> Nov-01-1996
<PERIOD-END> Oct-31-1997
<INVESTMENTS-AT-COST> 102,809,131
<INVESTMENTS-AT-VALUE> 111,513,033
<RECEIVABLES> 3,289,293
<ASSETS-OTHER> 4,821
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 114,807,147
<PAYABLE-FOR-SECURITIES> 2,545,039
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 214,389
<TOTAL-LIABILITIES> 112,047,719
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 88,456,583
<SHARES-COMMON-STOCK> 1,839,419
<SHARES-COMMON-PRIOR> 1,060,887
<ACCUMULATED-NII-CURRENT> 261,830
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,625,404
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,703,902
<NET-ASSETS> 25,609,155
<DIVIDEND-INCOME> 530,991
<INTEREST-INCOME> 2,256,457
<OTHER-INCOME> 0
<EXPENSES-NET> 1,493,699
<NET-INVESTMENT-INCOME> 1,293,749
<REALIZED-GAINS-CURRENT> 14,740,001
<APPREC-INCREASE-CURRENT> 2,797,779
<NET-CHANGE-FROM-OPS> 18,831,529
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 181,875
<DISTRIBUTIONS-OF-GAINS> 1,310,410
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 904,241
<NUMBER-OF-SHARES-REDEEMED> 248,340
<SHARES-REINVESTED> 122,631
<NET-CHANGE-IN-ASSETS> 46,741,538
<ACCUMULATED-NII-PRIOR> 120,291
<ACCUMULATED-GAINS-PRIOR> 6,500,367
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 726,006
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,493,699
<AVERAGE-NET-ASSETS> 19,230,000
<PER-SHARE-NAV-BEGIN> 12.42
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 2.62
<PER-SHARE-DIVIDEND> 0.12
<PER-SHARE-DISTRIBUTIONS> 1.15
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.92
<EXPENSE-RATIO> 2.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Growth & Income Value Fund - C
<SERIES>
<NUMBER> 9
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Oct-31-1997
<PERIOD-START> Nov-01-1996
<PERIOD-END> Oct-31-1997
<INVESTMENTS-AT-COST> 102,809,131
<INVESTMENTS-AT-VALUE> 111,513,033
<RECEIVABLES> 3,289,293
<ASSETS-OTHER> 4,821
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 114,807,147
<PAYABLE-FOR-SECURITIES> 2,545,039
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 214,389
<TOTAL-LIABILITIES> 112,047,719
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 88,456,583
<SHARES-COMMON-STOCK> 480,416
<SHARES-COMMON-PRIOR> 225,974
<ACCUMULATED-NII-CURRENT> 261,830
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,625,404
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,703,902
<NET-ASSETS> 6,687,337
<DIVIDEND-INCOME> 530,991
<INTEREST-INCOME> 2,256,457
<OTHER-INCOME> 0
<EXPENSES-NET> 1,493,699
<NET-INVESTMENT-INCOME> 1,293,749
<REALIZED-GAINS-CURRENT> 14,740,001
<APPREC-INCREASE-CURRENT> 2,797,779
<NET-CHANGE-FROM-OPS> 18,831,529
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 47,948
<DISTRIBUTIONS-OF-GAINS> 319,471
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 320,442
<NUMBER-OF-SHARES-REDEEMED> 96,289
<SHARES-REINVESTED> 30,289
<NET-CHANGE-IN-ASSETS> 46,741,538
<ACCUMULATED-NII-PRIOR> 120,291
<ACCUMULATED-GAINS-PRIOR> 6,500,367
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 726,006
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,493,699
<AVERAGE-NET-ASSETS> 4,724,000
<PER-SHARE-NAV-BEGIN> 12.43
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 2.62
<PER-SHARE-DIVIDEND> 0.13
<PER-SHARE-DISTRIBUTIONS> 1.15
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.92
<EXPENSE-RATIO> 2.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
950 Seventeenth Street Telephone 303 893 8100
Suite 2500
Denver, CO 80202
PRICE WATERHOUSE LLP [LOGO]
To the Board of Trustees
and Shareholders of
Oppenheimer Quest for Value Funds
In planning and performing our audits of the financial statements of Oppenheimer
Quest for Value Funds for the year ended October 31, 1997, we considered its
internal control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinions on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on internal control.
The management of Oppenheimer Quest for Value Funds is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of control activities. Generally, control
activities that are relevant to an audit pertain to the entity's objective of
preparing financial statements for external purposes that are fairly presented
in conformity with generally accepted accounting principles. Those control
activities include the safeguarding of assets against unauthorized acquisition,
use or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of specific
internal control components does not reduce to a relatively low level the risk
that errors or irregularities in amounts that would be material in relation to
the financial statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing their assigned
functions. However, we noted no matters involving internal control, including
control activities for safeguarding securities, that we consider to be material
weaknesses as defined above as of October 31, 1997.
This report is intended solely for the information and use of management and the
Board of Trustees of Oppenheimer Quest for Value Funds and the Securities and
Exchange Commission.
/S/Price Waterhouse LLP
Price Waterhouse LLP
Denver, Colorado
November 21, 1997
SHAREHOLDER MEETING (Unaudited)
On May 6, 1997, a special shareholder meeting was held at which the selection of
Price Waterhouse LLP as the independent accountants and auditors of the Fund for
the fiscal year beginning November 1, 1996 was ratified (Proposal No. 1), the
proposed changes to certain of the Fund's fundamental investment policies,
including changes to the investment objective were approved (Proposal No. 2),
the Investment Advisory Agreement between the Fund and OppenheimerFunds, Inc.
was approved (Proposal No. 3), the Subadvisory Agreement between
OppenheimerFunds, Inc. and OpCap Advisors was approved (Proposal No. 4), and the
Fund's Class A 12b-1 Distribution and Service Plan was approved by Class A
shareholders (Proposal No. 5) as described in the Fund's proxy statement for
that meeting. The following is a report of the votes cast:
<TABLE>
<CAPTION>
Withheld/
Proposal For Against Abstain Broker Non-Votes Total
- -------- --- ------- ------- ---------------- -----
<S> <C> <C> <C> <C> <C>
Proposal No. 1 418,214.641 -- -- 293,434 418,214.641
Proposal No. 2 405,402.866 12,811.775 -- 293,434 418,214.641
Proposal No. 3 405,402.866 12,811.775 -- 293,434 418,214.641
Proposal No. 4 404,865.866 12,811.775 537 293,434 418,214.641
Proposal No. 5 404,171.093 14,043.548 -- 293,434 418,214.641
</TABLE>
SHAREHOLDER MEETING (Unaudited)
On May 23, 1997, a special shareholder meeting was held at which the selection
of Price Waterhouse LLP as the independent accountants and auditors of the Fund
for the fiscal year beginning November 1, 1996 was ratified (Proposal No. 1),
the proposed changes to certain of the Fund's fundamental investment policies,
including changes to the investment objective were approved (Proposal No. 2),
the investment Advisory Agreement between the Fund and OppenheimerFunds, Inc.
was approved (Proposal No. 3), the Subadvisory Agreement between
OppenheimerFunds, Inc. and OpCap Advisors was approved (Proposal No. 4), the
Fund's Class A 12b-1 Distribution and Service Plan was approved by Class A
shareholders (Proposal No. 5), the Fund's Class B 12b-1 Distribution and Service
Plan was approved by Class B shareholders (Proposal No. 6), and the Fund's Class
C 12b-1 Distribution and Service Plan was approved by Class C shareholders
(Proposal No. 7) as described in the Fund's proxy statement for that meeting.
The following is a report of the votes cast:
<TABLE>
<CAPTION>
WITHHELD/ BROKER
PROPOSAL FOR AGAINST ABSTAIN NON-VOTES TOTAL
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Proposal No. 1 42,753,091.558 518,144.361 1,546,312.936 33,321,533 44,817,548.855
Proposal No. 2 39,769,340.621 2,784,314.100 2,268,642.125 33,321,533 44,822,296.846
Proposal No. 3 40,801,075.926 1,708,479.246 2,308,708.534 33,321,533 44,818,263.706
Proposal No. 4 40,338,391.519 1,890,034.216 2,589,833.971 33,321,533 44,818,259.706
Proposal No. 5 19,827,223.196 1,160,119.328 1,233,111.568 33,321,533 22,220,454.092
Proposal No. 6 15,520,063.087 762,311.115 1,166,005.929 33,321,533 17,448,380.131
Proposal No. 7 4,568,475.858 303,466.590 264,739.806 33,321,533 5,136,682.254
</TABLE>
SHAREHOLDER MEETING (Unaudited)
On May 27, 1997, a special shareholder meeting was held at which the selection
of Price Waterhouse LLP as the independent accountants and auditors of the Fund
for the fiscal year beginning November 1, 1996 was ratified (Proposal No. 1),
the proposed changes to certain of the Fund's fundamental investment policies,
including changes to the investment objective were approved (Proposal No. 2),
the investment Advisory Agreement between the Fund and OppenheimerFunds, Inc.
was approved (Proposal No. 3), the subadvisory Agreement between
OppenheimerFunds, Inc. and OpCap Advisors was approved (Proposal No. 4), the
Fund's Class A 12b-1 Distribution and Service Plan was approved by Class A
shareholders (Proposal No. 5), the Fund's Class B 12b-1 Distribution and Service
Plan was approved by Class B shareholders (Proposal No. 6), and the Fund's Class
C 12b-1 Distribution and Service Plan was approved by Class C shareholders
(Proposal No. 7) as described in the Fund's proxy statement for that meeting.
The following is a report of the votes cast:
<TABLE>
<CAPTION>
WITHHELD/ BROKER
PROPOSAL FOR AGAINST ABSTAIN NON-VOTES TOTAL
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Proposal No. 1 4,573,260.008 102,258.928 238,209.437 3,644,377 4,913,728.373
Proposal No. 2 4,365,776.796 229,202.907 319,134.617 3,644,377 4,914,114.320
Proposal No. 3 4,442,937.771 170,133.736 301,316.167 3,644,377 4,914,387.674
Proposal No. 4 4,403,574.847 193,195.260 316,961.266 3,644,377 4,913,731.373
Proposal No. 5 3,040,021.433 112,679.822 226,964.553 2,456,535 3,379,665.808
Proposal No. 6 937,906.228 88,314.690 84,145.865 865,177 1,110,366.783
Proposal No. 7 391,277.414 12,387.117 20,028.251 322,664 423,692.782
</TABLE>
SHAREHOLDER MEETING (Unaudited)
On May 19, 1997, a special shareholder meeting was held at which the selection
of Price Waterhouse LLP as the independent accountants and auditors of the Fund
for the fiscal year beginning November 1, 1996 was ratified (Proposal No. 1),
the proposed changes to certain of the Fund's fundamental investment policies,
including changes to the investment objective were approved (Proposal No. 2),
the Investment Advisory Agreement between the Funds and OppenheimerFunds, Inc.
was approved (Proposal No. 3), the Subadvisory Agreement between
OppenheimerFunds, Inc. and OpCap Advisors was approved (Proposal No. 4), the
Fund's Class A 12b-1 Distribution and Service Plan was approved by Class A
shareholders (Proposal No. 5), the Fund's Class B 12b-1 Distribution and Service
Plan was approved by Class B shareholders (Proposal No. 6), and the Fund's Class
C 12b-1 Distribution and Service Plan was approved by Class C shareholders
(Proposal No. 7) as described in the Fund's proxy statement for that meeting.
The following is a report of the votes cast:
<TABLE>
<CAPTION>
WITHHELD/ BROKER
PROPOSAL FOR AGAINST ABSTAIN NON-VOTES TOTAL
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Proposal No. 1 3,010,822.443 19,632.582 129,386.164 2,422,085 3,159,841.189
Proposal No. 2 2,757,935.840 225,153.056 193,777.293 2,422,085 3,176,866.189
Proposal No. 3 2,850,194.008 128,019.478 198,653.703 2,422,085 3,176,867.189
Proposal No. 4 2,826,386.792 153,164.293 197,317.104 2,422,085 3,176,868.189
Proposal No. 5 1,950,485.389 90,302.300 197,091.086 1,713,946 2,237,878.775
Proposal No. 6 653,861.229 18,742.765 50,391.030 566,194 722,995.024
Proposal No. 7 203,358.704 9,468.459 3,164.227 141,944 215,991.390
</TABLE>
<PAGE>
The Fund adjusts the classification of distributions to shareholders to reflect
the differences between financial statement amounts and distributions determined
in accordance with income tax regulations. Accordingly, during the year ended
October 31, 1997, amounts have been reclassified to reflect a decrease in
undistributed net investment income of $3,676. Accumulated net realized gain on
investments was increased by the same amount.
OPPENHEIMER QUEST FOR VALUE FUNDS
(Small Cap Fund, Growth & Income Fund, Opportunity Fund and Officers Fund)
Amendment to By-laws: Filed with Post-Effective Amendment No. 41, 11/21/97, to
Registration Statement on Form N-1A of Oppenheimer Quest For Value Funds (Reg.
No. 33-15489) and incorporated herein by reference.
Investment Advisory Agreement dated 5/27/97: Filed with Post-Effective
Amendment No. 41, 11/21/97, to Registration Statement on Form N-1A of
Oppenheimer Quest For Value Funds (Reg. No. 33-15489) and incorporated herein by
reference.
Amendment dated 10/22/97 to Investment Advisory Agreement: Filed with
Post-Effective Amendment No. 41, 11/21/97, to Registration Statement on Form
N-1A of Oppenheimer Quest For Value Funds (Reg. No. 33-15489) and incorporated
herein by reference.
Subadvisory Agreement with respect to the Small Cap Fund dated 11/5/97: Filed
with Post-Effective Amendment No. 41, 11/21/97, to Registration Statement on
Form N-1A of Oppenheimer Quest For Value Funds (Reg. No. 33-15489) and
incorporated herein by reference.
Subadvisory Agreement with respect to the Growth & Income Fund dated 11/5/97:
Filed with Post-Effective Amendment No. 41, 11/21/97, to Registration Statement
on Form N-1A of Oppenheimer Quest For Value Funds (Reg. No. 33-15489) and
incorporated herein by reference.
Subadvisory Agreement with respect to the Opportunity Fund dated 11/5/97:
Filed with Post-Effective Amendment No. 41, 11/21/97, to Registration Statement
on Form N-1A of Oppenheimer Quest For Value Funds (Reg. No. 33-15489) and
incorporated herein by reference.
Subadvisory Agreement with respect to the Officers Fund dated 11/5/97:
Filed with Post-Effective Amendment No. 41, 11/21/97, to Registration Statement
on Form N-1A of Oppenheimer Quest For Value Funds (Reg. No. 33-15489) and
incorporated herein by reference.
<PAGE>
The Fund adjusts the classification of distributions to shareholders to reflect
the differences between financial statement amounts and distributions determined
in accordance with income tax regulations. Accordingly, during the period ended
October 31, 1997, amounts have been reclassified to reflect a decrease in
accumulated net realized gain on investments of $949,722. Distributions in
excess of net investment income was decreased by the same amount.
<PAGE>
The Fund adjusts the classification of distributions to shareholders to reflect
the differences between financial statement amounts and distributions determined
in accordance with income tax regulations. Accordingly, during the period ended
October 31, 1997, amounts have been reclassified to reflect a decrease of
$466,666 in accumulated net realized gain on investment transactions. Paid-in
capital was increased by the same amount.
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