OPPENHEIMER GLOBAL EMERGING GROWTH FUND
Supplement dated April 16, 1997 to the
Prospectus dated January 13, 1997
1. The Supplement dated March 20, 1997 to the Prospectus is
replaced by this Supplement.
2. The Prospectus is amended by adding the following paragraph at
the end of "How the Fund is Managed" on page 17:
The Board of Trustees of Oppenheimer Global Emerging Growth Fund
(referred to as "Global Emerging Growth Fund" or the "Fund") has
determined that it is in the best interest of the Fund's
shareholders that the Fund reorganize with and into Oppenheimer
Global Fund ("Global Fund"). The Board unanimously approved the
terms of an agreement and plan of reorganization to be entered into
between these funds (the "reorganization plan") and the
transactions contemplated (the transactions are referred to as the
"reorganization"). The Board further determined that the
reorganization should be submitted to the Fund's shareholders for
approval, and recommended that shareholders approve the
reorganization.
Pursuant to the reorganization plan, (i) substantially all of the
assets of the Fund would be exchanged for shares of Global Fund,
(ii) these shares of Global Fund would be distributed to the
shareholders of the Fund, (iii) the Fund would be liquidated, and
(iv) the outstanding shares of the Fund would be cancelled. It is
expected that the reorganization will be tax-free, pursuant to
Section 368(a)(1) of the Internal Revenue Code of 1986, as amended,
and the Fund will request an opinion of tax counsel to that effect.
A meeting of the shareholders of the Fund is scheduled for June 17,
1997 to vote on the reorganization. Approval of the reorganization
requires the affirmative vote of a majority of the outstanding
shares of the Fund (the term "majority" is defined in the
Investment Company Act as a special majority. It is also
explained in the Statement of Additional Information). There is no
assurance that the Fund's shareholders will approve the
reorganization. Details about the proposed reorganization will be
contained in a proxy statement and other soliciting materials which
will be mailed to the Fund's shareholders of record on April 4,
1997. Persons who became shareholders of the Fund after the
record date for the shareholder meeting will not be entitled to
vote on the reorganization.
April 16, 1997
