OPPENHEIMER MAIN STREET CALIFORNIA TAX-EXEMPT FUND
Supplement dated April 20, 1996
to the Prospectus dated November 1, 1995
1. The paragraph captioned "Who Manages the Fund" on page 5 is deleted
and replaced with the following:
- Who Manages the Fund? The Fund's investment adviser (the
"Manager") is OppenheimerFunds, Inc. which (including a subsidiary)
manages investment company portfolios currently having over $50 billion
in assets at March 31, 1996. The Manager is paid an advisory fee by the
Fund, based on its assets. The Fund's portfolio manager is Jerry A.
Webman, who is employed by the Manager. He is primarily responsible for
the selection of the Fund's securities. The Fund's Board of Directors,
elected by shareholders, oversees the investment adviser and the portfolio
manager. Please refer to "How the Fund is Managed," starting on page 18
for more information about the Manager and its fees.
2. The paragraph captioned "Portfolio Manager" on page 18 is deleted and
replaced with the following:
- - Portfolio Manager. The Portfolio Manager of the Fund is Jerry A.
Webman. He is a Senior Vice President of the Manager. He has been the
person responsible for the day-to-day management of the Fund's portfolio
since April, 1996. Mr. Webman also serves as an officer and portfolio
manager for other Oppenheimer funds. During the past five years, Mr.
Webman was a Managing Director with Prudential Mutual Funds - Investment
Management, Inc.
April 20, 1996 PS0725.003
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OPPENHEIMER MAIN STREET CALIFORNIA TAX-EXEMPT FUND
Supplement dated April 20, 1996
to the Statement of Additional Information dated November 1, 1995
The Statement of Additional Information is amended as follow:
On page 20, the biography of Robert E. Patterson is deleted and replaced
with the following:
Jerry A. Webman, Vice President and Portfolio Manager; Age: 46
Senior Vice President of the Manager; an officer of other Oppenheimer
funds; previously a Managing Director with Prudential Mutual Funds -
- Investment Management, Inc.
April 20, 1996 PX0725.002
