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OPPENHEIMERFUNDS
Patricia C. Foster OppenheimerFunds, Inc.
Vice President Rochester Division
and Assistant Counsel 350 Linden Oaks
Rochester, NY 14625-2807
Tel 716 383-1300
February 2, 1998
Securities and Exchange Commission
Mail Stop 0-7, Filer Support
6432 General Green Way
Alexandria, VA 22312
RE: Oppenheimer Cash Reserves ("Registrant")
Reg No. 33-23223
File No. 811-5582
To the Securities and Exchange Commission:
An electronic filing is hereby made on behalf of the Registrant pursuant
to Rule 497(e) of the Securities Act of 1933, as amended. Such filing includes a
supplement dated February 2, 1998 to the Registrant's Statement of Additional
Infomation dated November 17, 1997.
If there are any questions, please contact the undersigned.
Sincerely,
/s/Patricia C. Foster
--------------------------
Patricia C. Foster
Vice President
and Assistant Counsel
(800) 552-1149
cc: Deloitte & Touche LLP
Myer, Swanson, Adams & Wolf P.C.
Gloria LaFond
Grace Loffredo
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OPPENHEIMER CASH RESERVES
Supplement dated February 2, 1998 to the
Statement of Additional Information dated November 17, 1997
The section entitled "Dividend Reinvestment in Another Fund" under the section
"Dividends, Capital Gains and Taxes" on page 30, is hereby 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.
February 2, 1998 PX0760.004
