OPPENHEIMER WORLD BOND FUND
Supplement dated July 12, 2000 to the
Prospectus dated February 23, 2000
The Prospectus is changed as follows:
1. The supplement dated March 6, 2000 is replaced by this supplement.
2. The second paragraph of the subsection entitled "Portfolio Manager" on page
15 is revised in its entirety to read as follows:
Portfolio Managers. The portfolio managers of the Fund, Arthur P. Steinmetz
and Ruggero de'Rossi, are Vice Presidents of the Fund and the persons
principally responsible for the day to day management of the Fund's
investments. Mr. Steinmetz became the portfolio manager on May 20,
1999, and Mr. de'Rossi on March 6, 2000. Mr. Steinmentz is a Senior
Vice President of the Manager. He joined the Manager in 1986, and has
been a portfolio manager of other Oppenheimer funds since 1989. Mr.
de'Rossi joined the Manager as a Vice President and portfolio manager
on March 6, 2000. He was Senior Vice President and Chief Emerging
Markets Strategist for ING Barings from 7/98 until 3/00 and Vice
President and head of emerging markets trading strategies for Citicorp
Securities from 5/95 until 7/98. Mr. Steinmetz and Mr. de'Rossi are
also officers and portfolio managers of other Oppenheimer funds.
3. All references in the Prospectus to the "portfolio manager" are hereby
changed to read, "portfolio managers."
Continued
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4. The following paragraphs are added to the end of the section captioned "How
the
Fund is Managed" on Page 15:
On April 13, 2000, the Board of Directors of the Oppenheimer World Bond Fund
approved, subject to the approval by the shareholders of the Fund, an
Agreement and Plan of Reorganization (the "Plan") with Oppenheimer
International Bond Fund pursuant to which the Fund would be reorganized with
and into Oppenheimer International Bond Fund. A proxy statement will be sent
to shareholders of the Fund.
July 12, 2000 PS0705.005
