OPPENHEIMER CASH RESERVES
Supplement dated May 20, 1998 to the
Prospectus dated November 17, 1997
The Prospectus is changed as follows effective June 1, 1998:
1. The second sentence of the first paragraph entitled "Class A Shares" in the
section entitled "How to Buy Shares-Classes of Shares" on page 19 is modified to
read as follows:
However, if Class A shares acquired by exchange of Class A shares of other
Oppenheimer funds purchased subject to a Class A contingent deferred sales
charge are redeemed within 18 months of the end of the calendar month of
the initial purchase of the exchanged Class A shares, a Class A contingent
deferred sales charge may be deducted from the proceeds. (A different
holding period may apply to shares purchased prior to June 1, 1998).
2. A new paragraph entitled "OppenheimerFunds Internet Web Site" is included in
the section entitled "Special Investor Services" on page 26 as follows:
OppenheimerFunds Internet Web Site. Information about the Fund, including
your account balance, daily share prices, market and Fund portfolio
information, may be obtained by visiting the OppenheimerFunds Internet Web
Site, at the following Internet address: http://www.oppenheimerfunds.com.
Additionally, certain account transactions may be requested by any
shareholder listed in the registration on an account as well as by the
dealer representative of record, through a special section of that Web
Site. To access that section of the Web Site, you must first obtain a
personal identification number ("PIN") by calling OppenheimerFunds
PhoneLink at 1-800-533-3310. If you do not wish to have Internet account
transactions capability for your account, please call our customer service
representatives at 1-800-525-7048. To find out more information about
Internet transactions and procedures, please visit the Web Site.
May 20, 1998 PS0760.006
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OPPENHEIMER CASH RESERVES
Supplement dated May 20, 1998 to the
Statement of Additional Information dated November 17, 1997
This Supplement to the Statement of Additional Information replaces the
Supplement dated February 2, 1998 and changes the Statement of Additional
Information as follows:
1. Effective June 1, 1998, the sixth sentence of the second paragraph in the
section entitled "How to Exchange Shares" on page 28 is revised to read as
follows:
However, if Class A shares acquired by exchange of Class A shares of other
Oppenheimer funds purchased subject to a Class A contingent deferred sales
charge are redeemed within 18 months of the end of the calendar month of
the initial purchase of the exchanged Class A shares, a Class A contingent
deferred sales charge is imposed on the redeemed shares. (A different
holding period may apply to shares purchased prior to June 1, 1998).
2. The section entitled "Dividend Reinvestment in Another Fund" in the section
"Dividends, Capital Gains and Taxes" on page 30, is deleted and replaced in its
entirety by the following:
Dividend Reinvestment in Another Fund. Shareholders of the Fund may elect
to reinvest all dividends and/or capital gains distributions in shares of
the same class of any of the other Oppenheimer funds listed in "The
Oppenheimer Funds" above. To elect this option, a shareholder must notify
the Transfer Agent in writing and either have an existing account in the
fund selected for reinvestment or must obtain a prospectus for that fund
and an application from the Distributor to establish an account. The
investment in shares of the selected fund will be made in the case of
Class B or Class C shares at the net asset value per share, and in the
case of Class A shares, will be made at the public offering price (i.e.
net asset value plus any sales charge that applies) in effect at the close
of business on the payable date of the dividend or distribution. Dividends
and/or distributions from shares of other Oppenheimer funds may be
invested in shares of this Fund at net asset value.
May 20, 1998 PX0760.005
