OPPENHEIMER STRATEGIC INCOME FUND
Supplement dated January 1, 1997 to the
Prospectus dated January 25, 1996
The Prospectus is changed as follows:
1. In addition to paying dealers the regular commission for (1)
sales of Class A shares stated in the sales charge table in "Buying
Class A Shares" on page 31, (2) sales of Class B shares described
in the fifth paragraph in "Distribution and Service Plans for Class
B Shares" on page 37, and (3) sales of Class C shares described in
the third paragraph in "Distribution and Service Plans for Class C
Shares" on page 38, the Distributor will pay additional commission
to each broker, dealer and financial institution that has a sales
agreement with the Distributor and agrees to accept that additional
commission (these are referred to as "participating firms") for
Class A, Class B and Class C shares of the Fund sold in "qualifying
transactions" (the "promotion"). The additional commission will be
1.00% of the offering price of shares of the Fund sold by a
registered representative or sales representative of a
participating firm during the promotion. If the additional
commission is paid on the sale of Class A shares of $500,000 or
more or the sale of Class A shares to a SEP IRA with 100 or more
eligible participants and those shares are redeemed within 13
months from the end of the month in which they were purchased, the
participating firm will be required to return the additional
commission.
"Qualifying transactions" are aggregate sales of $150,000 or
more of Class A, Class B and/or Class C shares of any one or more
of the Oppenheimer funds (except money market funds and municipal
bond funds) for rollovers or trustee-to-trustee transfers from
another retirement plan trustee, of IRA assets or other employee
benefit plan assets from an account or investment other than an
account or investment in the Oppenheimer funds to (1) IRAs,
rollover IRAs, SEP IRAs and SAR-SEP IRAs, using the
OppenheimerFunds, Inc. prototype IRA agreement, if the rollover
contribution is received during the period from January 1, 1997
through April 15, 1997 (the "promotion period"), or the acceptance
of a direct rollover or trustee-to-trustee transfer is acknowledged
by the trustee of the OppenheimerFunds prototype IRA during the
promotion period, and (2) IRAs, rollover IRAs, SEP IRAs and SAR-SEP
IRAs using the A.G. Edwards & Sons, Inc. prototype IRA agreement,
if the rollover contribution or trustee-to-trustee payment is
received during the promotion period. "Qualifying transactions" do
not include (1) purchases of Class A shares intended but not yet
made under a Letter of Intent, and (2) purchases of Class A, Class
B and/or Class C shares with the redemption proceeds from an
existing Oppenheimer funds account.
2. The first paragraph of the section captioned "Class A
Contingent Deferred Sales Charge" in "Buying Class A Shares" on
page 31, is revised by adding the following subparagraph:
Purchases by a retirement plan qualified under section
401(a) if the retirement plan has total plan assets of $500,000 or
more.
January 1, 1997 PS0230.012
