OPPENHEIMER MAIN STREET INCOME & GROWTH FUND
Supplement dated January 3, 1995
to the Prospectus dated October 1, 1994
The Prospectus is amended as follows:
1. The supplement dated November 1, 1994 to the Prospectus is no longer
in effect.
2. The second sentence of the section captioned "Organization and
History" under "How the Fund is Managed" on page 10 is revised to
read as follows: "The Fund is a diversified mutual fund and
commenced operations on February 3, 1988."
3. (a) The section captioned "At What Price Are Shares Sold?" under
"How to Buy Shares" on page 15 is amended to change the time of day
at which the net asset value is determined, by revising the second
sentence to read as follows: "In most cases, to enable you to receive
that day's offering price, the Distributor must receive your order
by the time of day The New York Stock Exchange closes, which is
normally 4:00 P.M., New York time, but may be earlier on some days
(all references to time in this Prospectus mean "New York time")."
(b) The fourth sentence of the section captioned "At What Price Are
Shares Sold?" under "How to Buy Shares" on page 15 is revised to read
as follows: "If you buy shares through a dealer, the dealer must
receive your order by the close of The New York Stock Exchange on a
regular business day and transmit it to the Distributor so that it
is received before the Distributor's close of business that day,
which is normally 5:00 P.M."
4. The third paragraph of the section captioned "Waivers of Class A
Sales Charges" under "How to Buy Shares" on page 17 is revised to add
the following new subsection at the end thereof: "and (5) if, at the
time an order is placed for Class A shares that would otherwise be
subject to the Class A contingent deferred sales charge, the dealer
agrees to accept the dealer's portion of the commission payable on
the sale in installments of 1/18th of the commission per month (with
no further commission payable if the shares are redeemed within 18
months of purchase)."
5. The second sentence of the section captioned "Selling Shares by
Telephone" under "How to Sell Shares" on page 22 is revised to read
as follows: "To receive the redemption price on a regular business
day, your call must be received by the Transfer Agent by the close
of The New York Stock Exchange that day, which is normally 4:00 P.M.,
but may be earlier on some days."
6. The section captioned "How To Exchange Shares" on page 23 is amended
by revising the first sentence in the first "bulleted" paragraph
following "Telephone Exchange Requests" to read as two sentences as
follows: "Shares are normally redeemed from one fund and purchased
from the other fund in the exchange transaction on the same regular
business day on which the Transfer Agent receives an exchange request
that is in proper form by the close of The New York Stock Exchange
that day, which is normally 4:00 P.M., but may be earlier on some
days. However, either fund may delay the purchase of shares of the
fund you are exchanging into if it determines it would be
disadvantaged by a same-day transfer of the proceeds to buy shares."
7. The first sentence of the section captioned "Net Asset Value Per
Share" under "Shareholder Account Rules and Policies" on page 24 is
revised to read as follows: "Net Asset Value Per Share is determined
for each class of shares as of the close of The New York Stock
Exchange on each regular business day by dividing the value of the
Fund's net assets attributable to a class by the number of shares of
that class that are outstanding."
January 3, 1995
<PAGE>
OPPENHEIMER MAIN STREET INCOME & GROWTH FUND
Supplement dated January 3, 1995 to the
Prospectus dated October 1, 1994
The Prospectus is amended as follows:
1. The supplement dated November 1, 1994 to the Prospectus is
no longer in effect.
2. The following text is added below the Class A sales charge
table in "Class A Shares" on page 16 of the Prospectus:
In addition to paying dealers the regular commission
for sales of Class A shares stated in the sales
charge table in "Class A Shares," and the commission
for sales of Class B shares described in the third
paragraph in "Distribution and Service Plan for Class
B Shares" on page 19, the Distributor will pay the
following additional commission for shares of the
Fund sold in "qualifying transactions" from January
16, 1995, through April 17, 1995: (1) .75% of the
offering price of Class A shares and (2) .50% of the
offering price of Class B shares sold by a registered
representative of a participating broker or dealer or
a sales representative of a participating financial
institution that has a sales agreement with the
Distributor. "Qualifying transactions" are sales in
the amount of $150,000 or more (calculated at
offering price) of Class A and/or Class B shares (if
available) of any one or more of the following
OppenheimerFunds: the Fund, Oppenheimer Global Fund,
Oppenheimer Total Return Fund, Inc., Oppenheimer High
Yield Fund, Oppenheimer Champion High Yield Fund,
Oppenheimer Limited-Term Government Fund and
Oppenheimer Strategic Income Fund. "Qualifying
transactions" do not include sales of Class A shares
(a) at net asset value without sales charge, (b)
subject to a contingent deferred sales charge, or (c)
intended but not yet transacted under a Letter of
Intent.
January 3, 1995
<PAGE>
OPPENHEIMER MAIN STREET INCOME & GROWTH FUND
Supplement dated January 3, 1995
to the Statement of Additional Information dated October 1, 1994
The Statement of Additional Information is amended as follows:
1. The first sentence of the section entitled "Determination of Net
Asset Value Per Share" under "How to Buy Shares" on page 24 is
amended to read as follows, and a new second sentence is added
to that section as follows: "The net asset values per share of
Class A, Class B and Class C shares of the Fund are determined
as of the close of business of The New York Stock Exchange (the
"NYSE") on each day that the NYSE is open by dividing the Fund's
net assets attributable to a class by the number of shares of
that class that are outstanding. The NYSE normally closes at
4:00 P.M., New York time, but may close earlier on some days
(for example, in case of weather emergencies or on days falling
before a holiday)."
2. The section entitled "AccountLink" under "How to Buy Shares" on
page 25 is revised by replacing the text after the second
sentence with the following: "Dividends will begin to accrue
on shares purchased by the proceeds of ACH transfers on the
business day the Fund receives Federal Funds for the purchase
through the ACH system before the close of the NYSE. The NYSE
normally closes at 4:00 P.M., but may close earlier on certain
days. If Federal Funds are received on a business day after the
close of the NYSE, the shares will be purchased and dividends
will begin to accrue on the next regular business day. The
proceeds of ACH transfers are normally received by the Fund
three days after the transfers are initiated. The Distributor
and the Fund are not responsible for any delays in purchasing
shares resulting from delays in ACH transmissions."
3. The second sentence of the section entitled "Special
Arrangements for Repurchase of Shares from Dealers and Brokers"
under "How to Sell Shares" on page 30 is amended to read as
follows: "The repurchase price per share will be the net asset
value next computed after the Distributor receives the order
placed by the dealer or broker, except that if the Distributor
receives a repurchase order from a dealer or broker after the
close of the NYSE on a regular business day, it will be
processed at that day's net asset value if the order was
received by the dealer or broker from its customer prior to the
time the NYSE closes (normally, that is 4:00 P.M., but may be
earlier on some days) and the order was transmitted to and
received by the Distributor prior to its close of business that
day (normally 5:00 P.M.)."
January 3, 1995
