OPPENHEIMER MAIN STREET CALIFORNIA MUNICIPAL FUND
Supplement Dated October 18, 1996
to the Prospectus dated November 1, 1995
The Prospectus is amended as follows:
1. The Supplement dated October 10, 1996 is replaced by this
Supplement.
2. Effective October 10, 1996, the name of the Fund has been
changed from "Oppenheimer Main Street California Tax-Exempt
Fund" to "Oppenheimer Main Street California Municipal Fund"
and all references to the name of the Fund on the front
cover page and throughout the Prospectus are changed to
reflect the new name.
3. The first paragraph of the section captioned "Investment
Objective and Policies - Investments in Taxable Securities
and Temporary Defensive Investment Strategy" on page 11 is
deleted and replaced with the following:
Investments in Taxable Securities and Temporary
Defensive Investment Strategy. Under normal market
conditions, the Fund may invest up to 20% of its assets in
taxable investments, including (i) repurchase agreements;
(ii) debt obligations rated "A-3" or better by Standard &
Poor's Corporation ("Standard & Poor's), "Prime-3" or better
by Moody's Investors Service, Inc. ("Moody's), or "F-2" or
better by Fitch Investors Service, Inc. ("Fitch"), which
mature in one year or less ("short-term debt obligations");
(iii) bankers' acceptances, certificates of deposits, time
deposits and U.S. Treasury bills ("cash equivalents"); and
(iv) Hedging Instruments.
October 18, 1996 PS0725.007
