OPPENHEIMER GLOBAL BIO-TECH FUND
Supplement dated June 22, 1994
to the Prospectus dated February 1, 1994
The Prospectus is amended as follows:
1. The Prospectus supplements dated February 3, 1994 and June 16, 1994
are hereby replaced with this supplement.
2. The following text is inserted after the first sentence in the second
paragraph in the section of the Prospectus entitled "How To Buy Shares --
Minimum Investment":
The $25,000 monthly limit on purchases described in the previous
sentence does not apply to purchases of shares in the amount of $1
million or more by an "institutional investor." The determination
as to whether a particular investor is an "institutional investor"
shall be made by the Distributor, in its sole discretion, based upon
information provided to it at the time of purchase by the investor
or the investor's dealer and which is satisfactory to the
Distributor.
3. The Fund's Board of Trustees has unanimously approved and recommended
that the Fund's shareholders approve the Manager's proposal that the Fund
be restructured as a global small cap fund. Shareholders of the Fund will
be asked, at a meeting currently scheduled for September 18, 1994, to
approve a proposal to remove the fundamental policy that the Fund will
normally invest at least 65% of its total assets in securities of
biotechnology companies located worldwide and to replace that policy with
one whereby the Fund would normally invest at least 65% of its total
assets in securities of issuers located worldwide whose outstanding common
stock has a market value of approximately $1 billion or less. Such
issuers are often known as "small capitalization" or "small cap" issuers.
If the Fund's shareholders approve this proposal, the Board anticipates
that it will change the Fund's name to Oppenheimer Global Small Cap Fund.
A proxy statement and other soliciting materials describing the proposal
in more detail will be mailed in early August, 1994 to shareholders of
record as of July 15, 1994, the record date for the shareholders meeting.
Shareholders of the Fund that first acquired Fund shares after the record
date for the shareholders meeting will not be entitled to vote on the
proposal.
June 22, 1994 PS750
