OPPENHEIMER CHAMPION INCOME FUND
Supplement Dated September 13, 1996
to the Prospectus dated January 25, 1996
The prospectus is amended as follows:
The sixth bullet point under the section captioned "Waivers of Class A
Sales Charges - Waivers of Initial and Contingent Deferred Sales
Charges for Certain Purchasers" on page 32 is deleted and replaced with
the following bullet point:
- -dealers, brokers or registered investment advisers that have entered
into an agreement with the Distributor providing specifically for the
use of shares of the Fund in particular investment products made
available to their clients (those clients may be charged a transaction
fee by their dealer, broker or adviser for the purchase or sale of Fund
shares);
- -(1) investment advisors and financial planners who charge an advisory,
consulting or other fee for their services and buy shares for their own
accounts or the accounts of their clients, and (2) retirement plans and
deferred compensation plans and trusts used to fund those plans
(including, for example, plans qualified or created under sections
401(a), 403(b) or 457 of the Internal Revenue Code), and "rabbi trusts"
that buy shares for their own accounts, in each case if those purchases
are made through a broker or agent or other financial intermediary that
has made special arrangements with the Distributor for those purchases;
(3) clients of such investment advisors or financial planners who buy
shares for their own accounts may also purchase shares without sales
charge but only if their accounts are linked to a master account of
their investment advisor or financial planner on the books and records
of the broker, agent or financial intermediary with which the
Distributor has made such special arrangements (each of these investors
may be charged a fee by the broker, agent or financial intermediary for
purchasing shares).
September 13, 1996 PS0190.001
