(logo)OPPENHEIMERFUNDS
OppenheimerFunds, Inc.
Two World Trade Center, 34th Floor
New York, NY 10048-0203
212 323-2000 Fax 212 323-0558
January 22, 1997
Securities and Exchange Commission
Mail Stop 0-7, Filer Support
6432 General Green Way
Alexandria, VA 22312
RE: Oppenheimer Champion Income Fund ("Registrant")
Reg No. 33-16494; File No. 811-5281
To the Securities and Exchange Commission:
An electronic filing is hereby made on behalf of the Registrant
pursuant to Rule 497(e) of the Securities Act of 1933, as amended. Such filing
includes a supplement dated January 22, 1997 to the Registrant's Prospectus
dated January 20, 1997.
If there are any questions, please contact the undersigned.
Sincerely,
/s/ Mark J.P. Anson
-------------------------
Mark J.P. Anson
Vice President
and Assistant Counsel
(212) 323-0795
cc: Deloitte & Touche LLP
Myer, Swanson, Adams & Wolf P.C.
Gloria LaFond
Grace Loffredo
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OPPENHEIMER CHAMPION INCOME FUND
Supplement dated January 22, 1997 to the
Statement of Additional Information dated January 20, 1997
The Statement of Additional Information is changed as follows:
Item 10 in the section captioned "Other Investment Restrictions" on page 22 is
revised to read as follows:
(10) invest in commodities or commodity contracts; however, the Fund may buy and
sell any of the Hedging Instruments which it may use as permitted by any of its
other policies, whether or not such Hedging Instrument is considered to be a
commodity or commodity contract, subject to the restrictions and limitations
stated under "Hedging" and in this Prospectus; or
January 22, 1997 PS0190.010
