OPPENHEIMER CALIFORNIA MUNICIPAL FUND
Supplement dated January 15, 1999 to the
Prospectus dated November 27, 1998
The Prospectus is changed as follows:
1. The paragraph titled "Portfolio Manager" on page 13 is replaced in its
entirety with the following:
|X| Portfolio Manager. The Portfolio manager of the Fund is Caryn Halbrecht, a
Vice President of the Manager. She is the person principally responsible for the
day-to-day management of the Fund's portfolio, and became the Fund's portfolio
manager on January 1, 1999. Ms. Halbrecht also serves as an officer and
portfolio manager for other Oppenheimer funds. Prior to joining OppenheimerFunds
in 1994 she was Vice President of Fixed Income Portfolio Management for Bankers
Trust Company.
2. The last paragraph on page 15 is replaced in its entirety with the following:
|X| Class C Shares. If you buy Class C shares, you pay no sales charge at the
time of purchase, but you will pay an annual asset-based sales charge, and if
you sell your shares within 12 months of buying them, you will normally pay a
contingent deferred sales charge of 1%, as described in "How Can I Buy Class C
Shares?" below.
January 15, 1999 PS0790.002
<PAGE>
OPPENHEIMER CALIFORNIA MUNICIPAL FUND
Supplement dated January 15, 1999 to the
Statement of Additional Information dated November 27, 1998
The Statement of Additional Information is revised as follows:
1. The following biographical information is added directly below the
biographical information for Clayton K. Yeutter on page 31:
Caryn Halbrecht, Vice President and Portfolio Manager; Age 41
Two World Trade Center, New York 10048-0203
Vice President of the Manager (since March 1994); an officer of other
Oppenheimer funds; previously (until March 1994) Vice President of
Fixed Income Portfolio Management of Bankers Trust Company.
2. The biographical information relating to Jerry A. Webman on page 31 is
deleted from the subsection titled "Trustees and Officers of the Fund."
January 15, 1999 790PX.002
