OPPENHEIMER CASH RESERVES/CO/
497, 2000-04-03
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                            OPPENHEIMER CASH RESERVES
                      Supplement dated April 1, 2000 to the
                       Prospectus dated November 26, 1999



The  Portfolio  Managers  section on page nine of the  prospectus  is revised as
follows:

Portfolio Manager. The portfolio manager of the Fund is Carol E. Wolf. She is
      the person principally responsible for the day-to-day management of the
      Fund's portfolio. Ms. Wolf was co-portfolio manager of the Fund from
      June 15, 1998 until April 1, 2000, when she became the sole portfolio
      manager. She is a Vice President of the Manager and of the Fund
      and an officer and portfolio manager of other Oppenheimer funds.























April 1, 2000                                               PS0760.008


<PAGE>


                            OPPENHEIMER CASH RESERVES
                      Supplement dated April 1, 2000 to the
         Statement of Additional Information dated November 26, 1999

The Statement of Additional  Information is changed by deleting the biographical
information for Arthur J. Zimmer on page 14.
































April 1, 2000                                                 PX0760.007



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