OPPENHEIMER CASH RESERVES
Supplement dated August 5, 1998 to the
Prospectus dated November 17, 1997
This Supplement to the Prospectus replaces the Supplement dated June 15, 1998
and changes the Prospectus as follows:
1. The second sentence in the section entitled "Who Manages the Fund?" on page 5
is deleted and replaced with:
Effective August 5, 1998, the Fund's portfolio managers, who are employed
by the Manager and are primarily responsible for the selection of the
Fund's securities, are Carol E. Wolf and Arthur J. Zimmer.
2. The section entitled "Portfolio Manager" on page 17 is deleted and replaced
with:
The Manager has designated Carol E. Wolf and Arthur J. Zimmer as the
Portfolio Managers of the Fund, effective June 15, 1998 and August 5,
1998, respectively. They are the individuals principally responsible for
the day to day management of the Fund's portfolio. Ms. Wolf and Mr. Zimmer
are also officers of Centennial Asset Management Corporation, an
investment advisor subsidiary of the Manager, and are officers and
portfolio managers of other Oppenheimer funds.
3. 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 deleted and
replaced with:
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).
(continued)
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4. 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.
August 5, 1998 PS0760.008
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