OPPENHEIMER GLOBAL BIO-TECH FUND
Supplement dated August 19, 1994
to the Prospectus dated February 1, 1994
The Prospectus is amended as follows:
1. The Prospectus supplements dated June 22, 1994 and July 5, 1994 are hereby
replaced with this supplement.
2. The second paragraph under the section of the Prospectus entitled "Management
of the Fund" on page 10 is deleted and replaced by the following:
James Ayer is an Assistant Vice President of the Manager who serves as a Vice
President and Portfolio Manager of the Fund. Since August, 1994, he has been
the person principally responsible for the day-to-day management of the
Fund's portfolio. He also serves as an officer and portfolio manager for
other OppenheimerFunds. Previously he was an International Equities
Investment Officer with Brown Brothers Harriman & Company.
3. The second paragraph under the caption "How To Buy Shares -- Minimum
Investment" on page 11 is deleted and replaced with the following:
Shares of the Fund are not available for sale to new investors, including
shares purchased by exchange from "Eligible Funds" (defined below),
lump-sum purchases, and purchases under an Asset Builder Plan (described
below) or by reinvestment of dividends or distributions from other
"Eligible Funds," or under the "Reinvestment Privilege," described below.
Existing Fund shareholders may purchase Fund shares in amounts up to $25,000
per investor per month, including within that limit shares purchased by
exchange from "Eligible Funds," lump-sum purchases, and purchases
under an Asset Builder Plan or by reinvestment of dividends or
distributions from other "Eligible Funds," or under the "Reinvestment
Privilege." 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. The foregoing is subject to the right
of the Fund and the Distributor, in their complete discretion, to modify
or terminate the terms of this offer at any time without prior notice.
The remaining sections of this Prospectus are hereby amended to
conform to the terms of this offer.
(continued on other side)
4. 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. Shareholders of the Fund will be asked, at a
meeting currently scheduled for September 19, 1994, to approve a
proposal to broaden the Fund's current investment policy that it will
normally invest at least 65% of its total assets in securities of biotechnology
companies located worldwide so that the Fund may emphasize investments
in securities of emerging growth companies located worldwide.
If the Fund's shareholders approve this proposal, the Board anticipates
that it will change the Fund's name accordingly. A proxy statement and other
soliciting materials describing the proposal in more detail was 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.
August 19, 1994 PS750
