OPPENHEIMER FLORIDA MUNICIPAL FUND
Supplement Dated October 18, 1996
to the Prospectus dated April 15, 1996
The Prospectus is amended as follows:
1. The Supplement dated October 10, 1996 is replaced by this
Supplement.
2. Effective October 10, 1996, the name of the Fund has been
changed from "Oppenheimer Florida Tax-Exempt Fund" to
"Oppenheimer Florida Municipal Fund" and all references to the
name of the Fund on the front cover page and throughout the
Prospectus are changed to reflect the new name.
3. Effective October 10, 1996, the name "Oppenheimer Multi-State
Tax-Exempt Trust" is changed to "Oppenheimer Multi-State
Municipal Trust" and all references to the name in "How the
Fund is Managed - Organization and History" and throughout the
Prospectus are changed to reflect the new name.
4. The first paragraph of the section captioned "Investment
Objective and Policies - Investments in Taxable Securities and
Temporary Defensive Investment Strategy" on page 10 is deleted
and replaced with the following:
Investments in Taxable Securities and Temporary Defensive
Investment Strategy. Under normal market conditions, the Fund
may invest up to 20% of its assets in taxable investments,
including (i) certain "Temporary Investments" (described
immediately below); (ii) hedging instruments (described in
"Hedging," below); and (iii) repurchase agreements (explained
below).
October 18, 1996 PS0795.007
OPPENHEIMER PENNSYLVANIA MUNICIPAL FUND
Supplement Dated October 18, 1996
to the Prospectus dated April 15, 1996
The Prospectus is amended as follows:
1. The Supplement dated October 10, 1996 is replaced by this
Supplement.
2. Effective October 10, 1996, the name of the Fund has been
changed from "Oppenheimer Pennsylvania Tax-Exempt Fund" to
"Oppenheimer Pennsylvania Municipal Fund" and all references
to the name of the Fund on the front cover page and throughout
the Prospectus are changed to reflect the new name.
3. Effective October 10, 1996, the name "Oppenheimer Multi-State
Tax-Exempt Trust" is changed to read "Oppenheimer Multi-State
Municipal Trust" and all references to the name in "How the
Fund is Managed - Organization and History" and throughout the
Prospectus are changed to reflect the new name.
4. The first paragraph of the section captioned "Investment
Objective and Policies - Investments in Taxable Securities and
Temporary Defensive Investment Strategy" on page 11 is deleted
and replaced with the following:
Investments in Taxable Securities and Temporary Defensive
Investment Strategy. Under normal market conditions, the Fund
may invest up to 20% of its assets in taxable investments,
including (i) certain "Temporary Investments" (described
immediately below); (ii) hedging instruments (described in
"Hedging," below); and (iii) repurchase agreements (explained
below).
October 18, 1996
PS0740.007
OPPENHEIMER NEW JERSEY MUNICIPAL FUND
Supplement Dated October 18, 1996
to the Prospectus dated April 15, 1996
The Prospectus is amended as follows:
1. The Supplement dated October 10, 1996 is replaced by this
Supplement.
2. Effective October 10, 1996, the name of the Fund has been
changed from "Oppenheimer New Jersey Tax-Exempt Fund" to
"Oppenheimer New Jersey Municipal Fund" and all references to
the name on the front cover page and throughout the Prospectus
are changed to reflect the new name.
3. Effective October 10, 1996, the name "Oppenheimer Multi-State
Tax Exempt Trust" is changed to "Oppenheimer Multi-State
Municipal Trust" and all references to the name in "How the
Fund is Managed - Organization and History" and throughout the
Prospectus are changed to reflect the new name.
4. The first paragraph of the section captioned "Investment
Objective and Policies - Investments in Taxable Securities and
Temporary Defensive Investment Strategy" on page 10 is deleted
and replaced with the following:
Investments in Taxable Securities and Temporary Defensive
Investment Strategy. Under normal market conditions, the Fund
may invest up to 20% of its assets in taxable investments,
including (i) certain "Temporary Investments" (described
immediately below); (ii) hedging instruments (described in
"Hedging," below); and (iii) repurchase agreements (explained
below).
October 18, 1996 PS0395.007
