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<PAGE> PAGE 2
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SIGNATURE C. WILLIAM MAHER
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> OCT-31-1995
<INVESTMENTS-AT-COST> 50977755
<INVESTMENTS-AT-VALUE> 51488607
<RECEIVABLES> 1468017
<ASSETS-OTHER> 15415
<OTHER-ITEMS-ASSETS> 113738
<TOTAL-ASSETS> 53085777
<PAYABLE-FOR-SECURITIES> 540322
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 205576
<TOTAL-LIABILITIES> 745898
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 59850207
<SHARES-COMMON-STOCK> 6615505
<SHARES-COMMON-PRIOR> 6615505
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 79149
<ACCUMULATED-NET-GAINS> (8026616)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 595437
<NET-ASSETS> 52339879
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5344119
<OTHER-INCOME> 0
<EXPENSES-NET> 633625
<NET-INVESTMENT-INCOME> 4710494
<REALIZED-GAINS-CURRENT> (1281279)
<APPREC-INCREASE-CURRENT> 943379
<NET-CHANGE-FROM-OPS> 4372594
<EQUALIZATION> 0
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</TABLE>
<PAGE>
SHAREHOLDER MEETING (Unaudited)
On May 3, 1995, an annual shareholder meeting was held at which the five
Trustees identified below were elected and the selection of KPMG Peat Marwick
LLP as the independent certified public accountants and auditors of the Trust
for the fiscal year beginning November 1, 1994 was ratified (Proposal No. 1).
In addition, the terms of office of the following Trustees continued after the
meeting: Messrs. Leon Levy, Leo Cherne, Clayton K. Yeutter, Sidney M. Robbins,
Donald W. Spiro and Ms. Elizabeth B. Moynihan and Pauline Trigere. The
following is a report of the votes cast:
<TABLE>
<CAPTION>
Nominee/Proposal For Against Withheld/Abstain Total
- ---------------- --- ------- ---------------- -----
TRUSTEE
<S> <C> <C> <C> <C>
Robert G. Galli ....... 5,020,516.0729 44,150.1423 42,944 5,107,610.2152
Benjamin Lipstein ..... 5,019,276.0729 44,150.1423 44,184 5,107,610.2152
Kenneth A. Randall .... 5,019,516.0729 44,150.1423 43,944 5,107,610.2152
Edward V. Regan ....... 5,019,516.0729 44,150.1423 43,944 5,107,610.2152
Russell S. Reynolds, Jr. 5,019,276.0729 44,150.1423 44,184 5,107,610.2152
Proposal No. 1 ........ 4,991,934.9931 91,545.8848 24,879.3373 5,108,360.2152
</TABLE>
<PAGE>
THE BOARD OF TRUSTEES AND SHAREHOLDERS OF
OPPENHEIMER MULTI-GOVERNMENT TRUST:
In planning and performing our audit of the financial statements of Oppenheimer
Multi-Government Trust for the year ended October 31, 1995, 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 Multi-Government Trust 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
October 31, 1995.
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.
KPMG Peat Marwick LLP
Denver, Colorado
November 21, 1995
<PAGE>
During the year ended October 31, 1995, the Trust 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 year ended October 31, 1995,
amounts have been reclassified to reflect a decrease in undistributed net
investment income of $284,433 and a decrease in accumulated net realized loss on
investments of $284,433.
