<PAGE> PAGE 1
000 B000000 07/31/96
000 C000000 0000837441
000 D000000 Y
000 E000000 NF
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001 A000000 OPPENHEIMER CALIFORNIA TAX-EXEMPT FUND
001 B000000 811-5586
001 C000000 2123230200
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
002 D020000 0203
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020 A000001 SMITH BARNEY, HARRIS UPHAM & CO., INC.
020 B000001 13-3371860
020 C000001 2526
020 A000002 MERILL LYNCH, PIERCE FENNER & SMITH, INC.
020 B000002 13-5674085
020 C000002 36
020 A000003 PAINEWEBBER, INC.
020 B000003 13-2638166
020 C000003 34
020 A000004 PRUDENTIAL SECURITIES, INC.
020 B000004 22-2347336
020 C000004 33
020 A000005 BANK OF AMERICA NT & SA
020 B000005 94-1687665
020 C000005 23
020 A000006 GOLDMAN, SACHS & CO.
020 B000006 13-5108880
020 C000006 20
020 A000007 SUTRO & CO. INC.
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020 A000008 MORGAN STANLEY & CO., INC.
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020 A000009 SIMON(WM E.) & SONS MUNICIPAL SECURITIES, INC
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020 C000009 11
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<PAGE> PAGE 2
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SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 837441
<NAME> OPPENHEIMER CALIFORNIA TAX-EXEMPT A
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<INVESTMENTS-AT-VALUE> 335,588,185
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<OTHER-ITEMS-LIABILITIES> 1,729,027
<TOTAL-LIABILITIES> 1,729,027
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 333,255,015
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<NET-INVESTMENT-INCOME> 10,332,070
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 837441
<NAME> OPPENHEIMER CALIFORNIA TAX-EXEMPT B
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<NAME> OPPENHEIMER CALIFORNIA TAX-EXEMPT C
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<PERIOD-START> JAN-01-1996
<PERIOD-END> JUL-31-1996
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<INVESTMENTS-AT-VALUE> 335,588,185
<RECEIVABLES> 6,019,002
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</TABLE>
<PAGE>
THE BOARD OF TRUSTEES AND SHAREHOLDERS OF
OPPENHEIMER CALIFORNIA TAX-EXEMPT FUND:
In planning and performing our audit of the financial statements of Oppenheimer
California Tax-Exempt Fund for the seven-month period ended July 31, 1996, we
considered its internal control structure, including procedures for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the internal control
structure.
The management of Oppenheimer California Tax-Exempt Fund is responsible for
establishing and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and may not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we considered to be material weaknesses as defined above as of
July 31, 1996.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission and should not be used for any other
purpose.
/S/KPMG PEAT MARWICK LLP
KPMG PEAT MARWICK LLP
Denver, Colorado
August 21, 1996
<PAGE>
During the seven months ended July 31, 1996, the Fund changed the
classification of distributions to shareholders to better disclose the
differences between financial statement amounts and distributions
determined in accordance with income tax regulations. Accordingly, during
the seven months ended July 31, 1996, amounts have been reclassified to
reflect an increase in paid-in capital of $41,183, a decrease in
undistributed net investment income of $64,741, and a decrease in
accumulated net realized loss on investments of $23,558.
