OPPENHEIMER PENNSYLVANIA MUNICIPAL FUND
Supplement dated June 15, 2000 to the
Prospectus dated November 26, 1999
The Prospectus is revised as follows:
Effective June 1, 2000, the footnote below the Annual Fund Operating
Expenses table on page 7 is deleted and replaced with the following:
* The management fee expenses in the table are based on the fees the
Fund would have paid if the Manager had not waived a portion of its
fee under a voluntary undertaking to the Fund. After the Manager's
waiver the actual management fee as a percentage of average daily net
assets was 0.57% for each class of shares. The Manager has withdrawn
that voluntary waiver effective June 1, 2000.
Expenses may vary in future years. "Other Expenses" include transfer
agent fees, custodial fees, and accounting and legal expenses the Fund
pays.
June 15, 2000 PS0740.014
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OPPENHEIMER PENNSYLVANIA MUNICIPAL FUND
Supplement dated June 15, 2000 to the
Statement of Additional Information dated November 26, 1999,
Revised December 10, 1999
The Statement of Additional Information is revised as follows:
The third paragraph under the section captioned "The Manager - The
Investment Advisory Agreement" on page 36 is deleted and replaced with the
following:
The investment advisory agreement contains no limitation of the Fund's
expenses by the Manager. The Manager had voluntarily agreed to waive
receipt of a portion of its annual management fee to the extent
necessary to limit the annual management fee to not more than 0.57% of
average annual net assets of each class of shares. The Manager
terminated that voluntary undertaking effective June 1, 2000. The
management fees paid by the Fund to the Manager during its last three
fiscal years are listed below. Also shown is the amount the management
fee would have been without the waiver. Under its voluntary fee
waiver, the Manager waived $15,090 of the Fund's management fee in the
Fund's 1997 fiscal year, $28,265 in the Fund's 1998 fiscal year, and
$30,458 in the Fund's 1999 fiscal year.
June 15, 2000 PX0740.009
