OPPENHEIMER CALIFORNIA TAX-EXEMPT FUND
Supplement dated February 15, 1994
to the Prospectus dated April 30, 1993
1. The Supplement dated September 28, 1993 to the Prospectus is hereby
superceded.
2. The Prospectus is hereby amended as follows:
A. The following statement is added to the front cover page of the
Prospectus:
Shares of the Fund are not deposits or obligations of
any bank, are not guaranteed by any bank, and are not
insured by the FDIC or any other agency, and involve
investment risks, including the possible loss of
principal.
B. The following is added after the first paragraph under the Class
A Sales Charge Table in "How to Buy Shares - Class A Shares":
In addition to paying dealers the regular commission for sales
of Class A shares stated in the sales charge table in "Class A
Shares," and the commission for sales of Class B shares
described in the first paragraph of "Class B Distribution and
Service Plan," below, the Distributor will pay the following
additional commission for shares of the Fund sold in "qualifying
transactions" from March 1, 1994, through May 31, 1994: (i)
1.00% of the offering price of Class A and/or Class B shares
sold by a representative of a broker or dealer at a branch not
in a "financial institution," such as a bank, savings and loan
association or credit union; and (ii) .50% of the offering price
of Class B shares, and the Distributor's entire retained
commission on Class A shares, sold by a sales representative of
a financial institution or by a representative of a broker or
dealer firm at a branch in a financial institution. "Qualifying
transactions" are sales by a registered representative of a
broker or dealer at a branch not in a financial institution of
$200,000 or more (calculated at offering price), and sales in
any amount by a sales representative of a financial institution
or registered representative of a broker or dealer at a branch
in a financial institution, of Class A and/or Class B shares of
any one or more of the following OppenheimerFunds: Oppenheimer
Tax-Free Bond Fund, Oppenheimer Insured Tax-Exempt Bond Fund,
Oppenheimer New York Tax-Exempt Fund, Oppenheimer California
Tax-Exempt Fund, Oppenheimer Pennsylvania Tax-Exempt Fund,
Oppenheimer Florida Tax-Exempt Fund, and Oppenheimer New Jersey
Tax-Exempt Fund. "Qualifying transactions" do not include sales
of Class A shares (1) at net asset value without sales charge,
(2) subject to a contingent deferred sales charge, or (3)
intended under a Letter of Intent.
February 15, 1994 PS790
