OPPENHEIMER GLOBAL BIO-TECH FUND
Supplement dated June 24, 1994
to the Prospectus dated February 1, 1994
The Prospectus is amended as follows:
1. The Prospectus supplements dated February 3, 1994, June 16, 1994 and
June 22, 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. Shareholders of the Fund will be asked, at a meeting
currently scheduled for September 18, 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 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 24, 1994 PS750
