<PAGE>
OPPENHEIMER GLOBAL GROWTH & INCOME FUND
ANNUAL REPORT SEPTEMBER 30, 1994
[LOGO] OPPENHEIMERFUNDS
"WE HAVE BIG PLANS--COLLEGE FOR THE
KIDS, TRAVEL, A COMFORTABLE RETIREMENT.
"I NEED AN INVESTMENT THAT GIVES ME THE
POTENTIAL FOR GROWTH THAT STOCKS OFFER WHILE
PROVIDING INCOME, TOO.
"I CHOSE THIS FUND BECAUSE IT INVESTS IN
STOCKS AND BONDS. IT'S GIVEN ME THE GROWTH
AND INCOME THAT I NEED FOR HIGH TOTAL
INVESTMENT RETURN."
woman sitting
by woman
hugging child
<PAGE>
- -------------------------------------------------------------------------------
FUND FACTS
IN THIS REPORT:
ANSWERS TO TIMELY QUESTIONS YOU SHOULD ASK YOUR FUND'S MANAGERS.
- - HOW DID THE FUND RESPOND TO RISING INTEREST RATES IN THE U.S. AND ABROAD?
- - ARE YOU STILL CONCENTRATING ON OPPORTUNITIES IN EMERGING MARKETS AND THE
PACIFIC RIM?
- - WHAT'S THE NEAR-TERM OUTLOOK FOR GLOBAL INVESTING?
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
FACTS EVERY SHAREHOLDER SHOULD KNOW ABOUT
OPPENHEIMER GLOBAL GROWTH & INCOME FUND
- --------------------------------------------------------------------------------
1 The Fund seeks long-term capital appreciation and current income
through a portfolio of stocks and bonds, diversified by country and
industry. It is most suitable for investors with long time horizons
who can accept short-term volatility in the Fund's net asset value.
- --------------------------------------------------------------------------------
2 Total return at net asset value for the 12 months ended September 30,
1994 for Class A shares was 13.96%. Total return at net asset value
for Class C shares since inception of the Class on December 1, 1993
was 7.41%.(1)
- --------------------------------------------------------------------------------
3 Average annual total returns for Class A shares for the 1-year period
ended September 30, 1994 and from inception of the Fund on October 22,
1990 were 7.41% and 9.44%, respectively. For Class C shares, total
return since inception of the Class on December 1, 1993 was 6.41%.(2)
- --------------------------------------------------------------------------------
4 As of September 30, 1994, the top five stock holdings in the Fund's
portfolio were:(3)
PHILIPS GLOEILAMP NV
VOLVO AB
VEBA AG
KVAERNER INDUSTRIER AS
TELECOM ITALIA SPA
- --------------------------------------------------------------------------------
5 "The U.S. economy remains strong and there are persistent upward
pressures on short-term interest rates, while the economic expansion
in Europe is just getting underway, and many emerging markets still
have significant growth potential. In comparison to the U.S. stock
markets, short-term interest rate pressures are therefore less, and
earnings growth potential is faster in most foreign markets. As a
result, the international investment markets are expected to
outperform the U.S. markets--and with our emphasis on rapidly-growing
opportunities worldwide, the Fund is positioned to deliver superior
returns."
PORTFOLIO MANAGER BILL WILBY, SEPTEMBER 30, 1994
1. Based on the change in net asset value per share for the periods shown,
without deducting any sales charges. Such performance would have been lower if
sales charges were taken into account.
2. Average annual total returns are based on a hypothetical investment on
9/30/93 and 10/22/90 respectively, held until 9/30/94, after deducting the
maximum initial sales charge of 5.75% for Class A shares. Total return for
Class C shares was based on a hypothetical investment held until 9/30/94, after
deducting the 1% contingent deferred sales charge.
3. The Fund's portfolio is subject to change.
2 Oppenheimer Global Growth & Income Fund
<PAGE>
- --------------------------------------------------------------------------------
REPORT TO SHAREHOLDERS
ABOVE-AVERAGE PERFORMANCE
TOTAL RETURN FOR THE YEAR ENDED SEPTEMBER 30, 1994
- -------------------------------------------------------------
OPPENHEIMER GLOBAL 13.96%
GROWTH & INCOME FUND
CLASS A (AT NAV)(4)
- -------------------------------------------------------------
LIPPER GLOBAL FLEXIBLE 4.74%
PORTFOLIO FUNDS AVERAGE(5)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
The key to success in global investing over the past year has been being in the
right securities at the right time, and as the performance summary for
Oppenheimer Global Growth & Income Fund on the facing page shows, your managers
consistently positioned the portfolio to capitalize on the world's investment
opportunities.
Your Fund's managers believe that the fundamental factors for strong
global investment performance relative to the U.S.--notably a slowing domestic
economy in the U.S. and improving economies overseas--are still in place. The
key to day-to-day portfolio performance: careful security selection.
To increase yield while reducing the impact of changing foreign
currency values, the Fund continues to hold a portfolio of high-yield U.S.
corporate bonds. For much the same reason, your managers also adjusted the
foreign fixed income portion of the portfolio during the year, reducing holdings
in Latin America and Europe, and building positions in Canadian, Australian, and
New Zealand bonds, which offer exceptionally attractive inflation-adjusted rates
of return.
On the equity side, your managers significantly reduced the Fund's
positions in the Pacific Rim and Latin America, many of which enjoyed remarkable
gains, as well as in interest rate-sensitive financial services and consumer
stocks worldwide. The profits were invested in the shares of companies with
strong earnings potential, which are positioned to benefit from strategic
reorganizations, restructurings, acquisitions, or divestitures.
Looking ahead, we believe the outlook for global investors is bright.
Unlike the U.S. economy, which is well along in its expansion, economies in
Europe and many emerging markets are still gaining momentum, and offer what we
believe to be attractive investment opportunities.
We appreciate the confidence you have placed in Oppenheimer Global
Growth & Income Fund's managers, and we look forward to continuing to help you
reach your investment goals.
/s/ Donald W. Spiro
Donald W. Spiro
President
Oppenheimer Global Growth & Income Fund
October 21, 1994
4. See footnote 1, page 2.
5. Source: Lipper Analytical Services, an independent mutual fund monitoring
service, 9/30/94. The Lipper total return average for the 1-year period was for
22 global flexible portfolio funds. The average is shown for comparative
purposes only. Oppenheimer Global Growth & Income Fund is characterized by
Lipper as a global flexible portfolio fund. Lipper performance does not take
sales charges into consideration.
All figures assume reinvestment of dividends and capital gains distributions.
Past performance is not indicative of future results. Investment and principal
value on an investment in the Fund will fluctuate so that an investor's shares,
when redeemed, may be worth more or less than the original cost.
3 Oppenheimer Global Growth & Income Fund
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STATEMENT OF INVESTMENTS September 30, 1994
FACE MARKET VALUE
AMOUNT SEE NOTE 1
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- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
REPURCHASE AGREEMENTS--0.6%
Repurchase agreement with First Chicago Capital Markets, 4.95%,
dated 9/30/94, to be repurchased at $800,330 on 10/3/94,
collateralized by U.S. Treasury Nts., 4.25%--8.50%, 4/15/95-
7/15/98, with a value of $452,373 and U.S. Treasury Bills,
0%, 3/16/95--3/23/95, with a value of $364,369 (Cost $800,000) $ 800,000 $ 800,000
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
GOVERNMENT OBLIGATIONS--17.4%
- ----------------------------------------------------------------------------------------------------------------------------------
Argentina (Republic of) Bonds, Bonos de Consolidacion de
Deudas, Series I, 4.375%, 4/1/01(1)(7) 1,723,903 1,306,567
-----------------------------------------------------------------------------------------------
Banco Nacional de Comercio Exterior SNC International Finance
BV Gtd. Matador Bonds, 8%, 8/5/03(2) 2,000,000 1,745,000
-----------------------------------------------------------------------------------------------
Brazil (Federal Republic of) Bonds, Banco Do Nordeste Brasil,
10.375%, 11/6/95(2) 1,000,000 1,003,750
-----------------------------------------------------------------------------------------------
Canada (Government of) Bonds, 9.25%, 10/1/96 1,300,000(3) 1,001,063
-----------------------------------------------------------------------------------------------
German Bund (Federal Republic of) Nts., 6.125%, 7/21/97 2,300,000(3) 1,469,784
-----------------------------------------------------------------------------------------------
Government National Mortgage Assn., 7.50%, 9/15/22 1,635,664 1,544,296
-----------------------------------------------------------------------------------------------
Italy (Republic of):
Treasury Bonds, 11.50%, 5/1/98 2,000,000,000(3) 1,284,615
Treasury Bonds, Buoni Poliennali del Tes, 12.50%, 6/16/97 1,500,000,000(3) 984,711
-----------------------------------------------------------------------------------------------
Mexican Tesobonos, 0%, 1/12/95 2,500,000 2,450,447
-----------------------------------------------------------------------------------------------
New Zealand (Government of) Bond, 9%, 11/15/96 1,500,000(3) 906,134
-----------------------------------------------------------------------------------------------
Polish People's Republic Loan Participation
Agreement, 5.875%, 2/3/24(2)(8) 2,000,000(3) 788,327
-----------------------------------------------------------------------------------------------
Spain (Kingdom of):
Bonds, 11.45%, 8/30/98 190,000,000(3) 1,496,208
Bonos y Obligacion del Estado Gtd. Bonds, 9%, 2/28/97 50,000,000(3) 376,823
-----------------------------------------------------------------------------------------------
Sweden (Kingdom of) Bonds, 11%, 1/21/99 7,000,000(3) 948,638
-----------------------------------------------------------------------------------------------
Treasury Corp. of Victoria Gtd. Bonds, 12%, 10/22/98 1,200,000(3) 953,704
-----------------------------------------------------------------------------------------------
United Kingdom Treasury Nts., 9.50%, 1/15/99 600,000(3) 971,334
-----------------------------------------------------------------------------------------------
U.S. Treasury Bonds, 7.625%, 11/15/22 4,410,000 4,252,894
-----------------------------------------------------------------------------------------------
U.S. Treasury Nts., 8.50%, 7/15/97 1,000,000 1,041,562
------------
Total Government Obligations (Cost $25,666,794) 24,525,857
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
CORPORATE BONDS AND NOTES--13.7%
- ----------------------------------------------------------------------------------------------------------------------------------
Amstar Corp., 11.375% Sr. Sub. Nts., 2/15/97 400,000 396,000
-----------------------------------------------------------------------------------------------
Auburn Hills Trust, 12.375% Gtd. Exch. Ctfs., 5/1/20(7) 300,000 397,241
-----------------------------------------------------------------------------------------------
Banco De Galicia, 7%, 8/1/02 600,000 636,000
-----------------------------------------------------------------------------------------------
Banco Nacional de Mexico SA, 7% Exch. Sub. Debs., 12/15/99(2) 300,000 348,375
-----------------------------------------------------------------------------------------------
Beaver Valley Funding Corp., 9% Debs., 6/1/17 500,000 380,408
-----------------------------------------------------------------------------------------------
Carbide/Graphite Group, Inc., 11.50% Sr. Nts., 9/1/03 350,000 357,875
-----------------------------------------------------------------------------------------------
Card Establishment Services, Inc., 10% Sr. Sub. Nts.,
Series B, 10/1/03 500,000 472,500
-----------------------------------------------------------------------------------------------
Carlton Communications PLC, 7.50% Cv. Bonds, 8/14/07 170,000(3) 351,198
-----------------------------------------------------------------------------------------------
Celcaribe SA, 0%/13.50% Sr. Sec. Nts., 3/15/04(2)(6) 1,750,000 1,109,059
-----------------------------------------------------------------------------------------------
Charoen Pokphand Indonesia, 12.875% Cv. Bonds, 3/23/98 238,100,000(3) 109,418
-----------------------------------------------------------------------------------------------
Charter Medical Corp., 11.25% Sr. Sub. Nts., 4/15/04(2) 500,000 517,500
-----------------------------------------------------------------------------------------------
Cole National Group, Inc., 11.25% Sr. Nts., 10/1/01 500,000 492,500
-----------------------------------------------------------------------------------------------
Computervision Corp., 10.875% Sr. Nts., 8/15/97 300,000 279,750
</TABLE>
4 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
FACE MARKET VALUE
AMOUNT SEE NOTE 1
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<S> <C> <C>
CORPORATE BONDS AND NOTES Dr. Pepper/Seven-Up Cos., Inc., 0%/11.50% Sr. Sub.
(CONTINUED) Disc. Nts., 11/1/02(6) $ 556,000 $ 444,800
-----------------------------------------------------------------------------------------------
Envirotest Systems Corp., 9.625% Sr. Sub. Nts., 4/1/03 250,000 230,000
-----------------------------------------------------------------------------------------------
Family Restaurant, Inc., 9.75% Sr. Nts., 2/1/02 500,000 440,000
-----------------------------------------------------------------------------------------------
First PV Funding Corp., 10.15% Lease Obligation Bonds, 1/15/16 500,000 459,823
-----------------------------------------------------------------------------------------------
GPA Delaware, Inc., 8.75% Gtd. Nts., 12/15/98 500,000 420,000
-----------------------------------------------------------------------------------------------
GPA Holland BV, 9.75% Med.-Term Nts., Series B, 6/10/96 500,000 477,500
-----------------------------------------------------------------------------------------------
Grand Union Co., 11.25% Sr. Nts., 7/15/00 300,000 272,250
-----------------------------------------------------------------------------------------------
Gulf Canada Resources Ltd., 9.25% Sr. Sub. Debs., 1/15/04 500,000 460,375
-----------------------------------------------------------------------------------------------
Industrial Credit and Investment Corp. India Ltd.,
2.50% Cv. Debs., 4/30/00(2) 450,000 399,375
-----------------------------------------------------------------------------------------------
Infinity Broadcasting Corp., 10.375% Sr. Sub. Nts., 3/15/02 300,000 312,000
-----------------------------------------------------------------------------------------------
International Container Terminal Services, Inc.:
5% Cv. Sr. Nts., 9/15/01 300,000 281,250
6% Cv. Sr. Nts., 2/19/00(2) 300,000 420,000
-----------------------------------------------------------------------------------------------
Jindal Strips Ltd., 4.25% Cv. Debs., 3/31/99(2) 400,000 538,000
-----------------------------------------------------------------------------------------------
Kinnevik Industrifoerval, 10.50% Cv. Bonds, 7/21/97 5,000,000(3) 1,310,145
-----------------------------------------------------------------------------------------------
Mesa Capital Corp., 0%/12.75% Sec. Disc. Nts., 6/30/98(6) 390,000 346,125
-----------------------------------------------------------------------------------------------
Nextel Communications, Inc., 0%/9.75% Sr. Disc. Nts., 8/15/04(6) 525,000 259,875
-----------------------------------------------------------------------------------------------
OPI International, Inc., 12.875% Gtd. Sr. Nts., 7/15/02 500,000 571,250
-----------------------------------------------------------------------------------------------
Panamsat LP/Panamsat Capital Corp., 0%/11.375% Sr. Sub. Disc.
Nts., 8/1/03(6) 1,000,000 672,500
-----------------------------------------------------------------------------------------------
Penda Corp., 10.75% Sr. Nts., Series B, 3/1/04 500,000 462,500
-----------------------------------------------------------------------------------------------
Piv Investment Financial Cayman Ltd., 4.50% Cv. Gtd. Bonds,
12/1/00(2) 500,000 407,500
-----------------------------------------------------------------------------------------------
PT Inti Indorayon Utama, 9.125% Sr. Nts., 10/15/00 225,000 196,875
-----------------------------------------------------------------------------------------------
Shangri-La Asia Ltd., 2.875% Cv.Sub.Debs., 6/6/00(2) 500,000 427,500
-----------------------------------------------------------------------------------------------
Southland Corp., 4.50% 2nd Priority Sr. Sub. Debs., Series A,
6/15/04 700,000 437,500
-----------------------------------------------------------------------------------------------
Stone Consolidated Corp., 10.25% Sr. Sec. Nts., 12/15/00 300,000 296,250
-----------------------------------------------------------------------------------------------
Subic Power Corp., 9.50% Sr. Sec. Nts., Series A, 12/28/08(2) 650,000 599,625
-----------------------------------------------------------------------------------------------
Swift Energy Co., 6.50% Cv. Sub. Debs., 6/30/03 300,000 309,000
-----------------------------------------------------------------------------------------------
Synthetic Industries, Inc., 12.75% Sr. Sub. Debs., 12/1/02 300,000 303,000
-----------------------------------------------------------------------------------------------
Thermo Electron Corp., 4.625% Cv. Sr. Debs., 8/1/97(2) 750,000 1,078,125
-----------------------------------------------------------------------------------------------
Thrifty Payless, Inc., 11.75% Sr. Nts., 4/15/03 250,000 249,375
-----------------------------------------------------------------------------------------------
USA Mobile Communications, Inc. II, 9.50% Sr. Nts., 2/1/04 500,000 450,000
------------
Total Corporate Bonds and Notes (Cost $19,273,752) 19,380,342
SHARES
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
COMMON STOCKS--62.5%
- ----------------------------------------------------------------------------------------------------------------------------------
BASIC MATERIALS--6.6%
- ----------------------------------------------------------------------------------------------------------------------------------
CHEMICALS--2.7% Minerals Technologies, Inc. 30,000 888,750
-----------------------------------------------------------------------------------------------
Mitsubishi Petrochemical Co. Ltd. 120,000 840,254
-----------------------------------------------------------------------------------------------
NOVA Corp. 80,000 880,000
-----------------------------------------------------------------------------------------------
PT Tri Polyta Indonesia ADR(4) 25,000 678,125
-----------------------------------------------------------------------------------------------
Tianjin Bohai Chemical Industry Co.(4) 2,500,000 454,563
------------
3,741,692
</TABLE>
5 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
MARKET VALUE
SHARES SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
PAPER AND Corticeira Amorim, SA 7,000 $ 118,584
FOREST PRODUCTS--1.3% -----------------------------------------------------------------------------------------------
Hansol Paper Ltd., Sponsored GDR(2)(4) 10,463 458,501
-----------------------------------------------------------------------------------------------
Indah Kiat 560,000 733,439
-----------------------------------------------------------------------------------------------
Stora Kopparbergs Bergslags AB 8,400 482,882
------------
1,793,406
- ----------------------------------------------------------------------------------------------------------------------------------
STEEL--2.6% China Steel Corp., GDR(4) 21,000 435,750
-----------------------------------------------------------------------------------------------
Dofasco, Inc. 32,100 559,392
-----------------------------------------------------------------------------------------------
Kangwon Industrial Co. Ltd. 34,000 740,704
-----------------------------------------------------------------------------------------------
Pohang Iron & Steel Co. Ltd. 7,000 1,028,703
-----------------------------------------------------------------------------------------------
Tung Ho Steel Enterprise Corp., GDR(2) 25,000 425,000
-----------------------------------------------------------------------------------------------
Ugine SA 7,000 537,333
------------
3,726,882
- ----------------------------------------------------------------------------------------------------------------------------------
CONSUMER CYCLICALS--9.2%
- ----------------------------------------------------------------------------------------------------------------------------------
AIRLINES--0.2% Vienna International Airport 6,500 276,228
- ----------------------------------------------------------------------------------------------------------------------------------
AUTOMOBILES--2.9% CIADEA SA 29,999 436,468
-----------------------------------------------------------------------------------------------
Fiat SpA di Risp. 300,000 725,961
-----------------------------------------------------------------------------------------------
Nissan Motor Co. 50,000 408,709
-----------------------------------------------------------------------------------------------
Volkswagen AG 3,000 822,724
-----------------------------------------------------------------------------------------------
Volvo AB, Series B Free 92,500 1,687,981
------------
4,081,843
- ----------------------------------------------------------------------------------------------------------------------------------
BROADCAST MEDIA--2.3% Comcast Corp., Cl. A Special(4) 30,000 459,375
-----------------------------------------------------------------------------------------------
Grupo Televisa SA, Sponsored ADR(2) 10,000 578,750
-----------------------------------------------------------------------------------------------
Scandinavian Broadcasting System SA(4) 20,000 525,000
-----------------------------------------------------------------------------------------------
TeleCommunications, Inc., Cl. A(4) 24,000 532,500
-----------------------------------------------------------------------------------------------
Television Broadcast 100,000 464,592
-----------------------------------------------------------------------------------------------
United International Holdings, Inc., Cl. A(4) 42,000 637,875
------------
3,198,092
- ----------------------------------------------------------------------------------------------------------------------------------
ENTERTAINMENT--0.1% Euro Disney(4) 130,000 196,438
- ----------------------------------------------------------------------------------------------------------------------------------
HOUSEHOLD FURNISHINGS Philips Gloeilamp NV 80,000 2,444,480
AND APPLIANCES--2.2% -----------------------------------------------------------------------------------------------
Sony Corp. 10,800 628,554
------------
3,073,034
- ----------------------------------------------------------------------------------------------------------------------------------
RETAIL: SPECIALTY--1.1% Benetton SpA 30,000 403,846
-----------------------------------------------------------------------------------------------
Grupo Casa Autrey, SA de C.V. 15,000 489,375
-----------------------------------------------------------------------------------------------
Toys 'R' Us, Inc.(4) 20,000 712,500
------------
1,605,721
- ----------------------------------------------------------------------------------------------------------------------------------
RETAIL STORES: GENERAL Rinascente SpA, Ordinary 63,000 370,933
MERCHANDISE CHAINS--0.4% -----------------------------------------------------------------------------------------------
Sonae Industria E. Investimentos(4) 11,000 243,641
------------
614,574
</TABLE>
6 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
MARKET VALUE
SHARES SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
CONSUMER NON-CYCLICALS--6.1%
- ----------------------------------------------------------------------------------------------------------------------------------
AGRICULTURAL BIOTECHNOLOGY--0.9% Plant Genetics Systems International NV(2)(4) 50,072 $ 466,958
-----------------------------------------------------------------------------------------------
Sumitomo Chemical Co. Ltd. 150,000 850,257
------------
1,317,215
- ----------------------------------------------------------------------------------------------------------------------------------
BEVERAGES: ALCOHOLIC--0.6% LVMH Moet Hennessy Louis Vuitton 5,000 823,528
- ----------------------------------------------------------------------------------------------------------------------------------
DRUGS--1.5% Astra AB Free, Series A 30,000 719,911
-----------------------------------------------------------------------------------------------
Pharmavit(4) 16,000 240,000
-----------------------------------------------------------------------------------------------
Schering AG 1,500 922,301
-----------------------------------------------------------------------------------------------
Takeda Chemical Industries Ltd. 20,000 234,414
------------
2,116,626
- ----------------------------------------------------------------------------------------------------------------------------------
FOOD PROCESSING--0.5% Mavesa ADR(2) 75,000 494,475
-----------------------------------------------------------------------------------------------
Molinos Rio de la Plata SA(4) 14,600 139,421
------------
633,896
- ----------------------------------------------------------------------------------------------------------------------------------
HEALTHCARE: MISCELLANEOUS--1.7% Amgen, Inc.(4) 14,300 761,475
-----------------------------------------------------------------------------------------------
Chiron Corp. 9,400 625,100
-----------------------------------------------------------------------------------------------
Genzyme Corp.(4) 30,843 1,056,373
------------
2,442,948
- ----------------------------------------------------------------------------------------------------------------------------------
HOSPITAL MANAGEMENT--0.3% Community Psychiatric Centers 35,000 476,875
- ----------------------------------------------------------------------------------------------------------------------------------
MEDICAL PRODUCTS--0.6% Arjo AB(4) 30,100 523,122
-----------------------------------------------------------------------------------------------
Circon Corp.(4) 2,500 30,000
-----------------------------------------------------------------------------------------------
Stryker Corp. 7,100 246,725
------------
799,847
- ----------------------------------------------------------------------------------------------------------------------------------
ENERGY--4.3%
- ----------------------------------------------------------------------------------------------------------------------------------
OIL: INTEGRATED British Petroleum Co. PLC 8,000 606,000
INTERNATIONAL--2.8% -----------------------------------------------------------------------------------------------
Compagnie Francaise de Petroleum Total 8,000 470,242
-----------------------------------------------------------------------------------------------
OeMV AG(4) 9,000 811,099
-----------------------------------------------------------------------------------------------
Repsol SA 16,000 487,808
-----------------------------------------------------------------------------------------------
YPF Sociedad Anonima, Sponsored ADR 39,200 989,800
-----------------------------------------------------------------------------------------------
YuKong Ltd. 10,364 522,936
------------
3,887,885
- ----------------------------------------------------------------------------------------------------------------------------------
OIL AND GAS DRILLING--0.8% Petroleum Geo-Services AS(4) 60,000 1,175,623
- ----------------------------------------------------------------------------------------------------------------------------------
OIL WELL SERVICES McDermott International, Inc. 10,000 257,500
AND EQUIPMENT--0.7% -----------------------------------------------------------------------------------------------
TH Loy Industries Berhad(4) 172,500 699,624
------------
957,124
</TABLE>
7 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
MARKET VALUE
SHARES SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
FINANCIAL--5.9%
- ----------------------------------------------------------------------------------------------------------------------------------
FINANCIAL SERVICES: American Express Co. 20,000 $ 607,500
MISCELLANEOUS--1.2% -----------------------------------------------------------------------------------------------
Industrial Finance Corporation of Thailand (The ) 230,000 570,971
-----------------------------------------------------------------------------------------------
Ssangyong Investment & Securities Co. Ltd. 22,662 513,563
------------
1,692,034
- ----------------------------------------------------------------------------------------------------------------------------------
INSURANCE: MULTI-LINE--1.3% American International Group, Inc. 9,000 799,875
-----------------------------------------------------------------------------------------------
National Mutual Asia, Ltd. 1,000,000 647,065
-----------------------------------------------------------------------------------------------
Reinsurance Australia Corp.(4) 350,000 458,426
------------
1,905,366
- ----------------------------------------------------------------------------------------------------------------------------------
MAJOR BANKS: OTHER--2.5% Banco LatinoAmericano de Exportaciones SA, Cl. E 10,000 320,000
-----------------------------------------------------------------------------------------------
Banco Portugues de Investimento 7,000 109,734
-----------------------------------------------------------------------------------------------
Banco Wiese, Sponsored ADR(4) 7,500 181,875
-----------------------------------------------------------------------------------------------
BankAmerica Corp. 12,000 529,500
-----------------------------------------------------------------------------------------------
C.S. Holdings 1,058 432,130
-----------------------------------------------------------------------------------------------
PT Lippo Bank 133,300 398,176
-----------------------------------------------------------------------------------------------
PT Panin Bank(2) 350,000 639,346
-----------------------------------------------------------------------------------------------
Skandinaviska Enskilda Banken Group(4) 75,000 454,206
-----------------------------------------------------------------------------------------------
Standard Chartered Bank PLC 122,696 507,916
------------
3,572,883
- ----------------------------------------------------------------------------------------------------------------------------------
MONEY CENTER BANKS--0.9% Citicorp 28,600 1,215,500
- ----------------------------------------------------------------------------------------------------------------------------------
INDUSTRIAL--14.7%
- ----------------------------------------------------------------------------------------------------------------------------------
BUILDING MATERIALS GROUP--0.1% Cimentos De Portugal SA 6,000 106,195
- ----------------------------------------------------------------------------------------------------------------------------------
CONGLOMERATES--1.8% Catena AB, Series A Free(4) 100,000 842,236
-----------------------------------------------------------------------------------------------
Commercial del Plata 122,400 424,701
-----------------------------------------------------------------------------------------------
Desc, SA de C.V.(4) 15,000 481,875
-----------------------------------------------------------------------------------------------
Jardine Matheson Holdings Ltd. 100,000 847,655
------------
2,596,467
- ----------------------------------------------------------------------------------------------------------------------------------
CONTAINERS: METAL M C Packaging Corp. Ltd. 1,550,000 722,124
AND GLASS--0.5%
- ----------------------------------------------------------------------------------------------------------------------------------
Electrical Equipment--1.3% BBC Brown Boveri AG 850 732,631
-----------------------------------------------------------------------------------------------
Sasib SpA 116,666 642,411
-----------------------------------------------------------------------------------------------
Sumitomo Electric Industries, Inc. 30,000 442,558
------------
1,817,600
- ----------------------------------------------------------------------------------------------------------------------------------
ENGINEERING AND Empresas ICA Sociedad Controladora SA de C.V. 9,500 306,375
CONSTRUCTION--2.0% -----------------------------------------------------------------------------------------------
Grupo Tribasa, SA de C.V.(4) 11,850 435,488
-----------------------------------------------------------------------------------------------
Juan Minetti SA(4) 55,400 354,538
-----------------------------------------------------------------------------------------------
Leighton Holdings Ltd. 300,000 457,316
-----------------------------------------------------------------------------------------------
Raito Kogyo Co. Ltd. 21,000 498,636
-----------------------------------------------------------------------------------------------
VA Technologie AG(2)(4) 8,000 797,911
------------
2,850,264
</TABLE>
8 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
MARKET VALUE
SHARES SEE NOTE 1
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<S> <C> <C>
MACHINERY: DIVERSIFIED--1.0% Beiren Printing Machinery Holdings, Ltd. 600,000 $ 300,497
-----------------------------------------------------------------------------------------------
Bobst Bearers AG 310 394,774
-----------------------------------------------------------------------------------------------
Daifuku 50,000 727,493
------------
1,422,764
- ----------------------------------------------------------------------------------------------------------------------------------
MANUFACTURING: DIVERSIFIED Autoliv AB(4) 34,000 1,022,715
INDUSTRIAL--3.6% -----------------------------------------------------------------------------------------------
CBI Industries, Inc. 23,000 623,875
-----------------------------------------------------------------------------------------------
Filippo Fochi SpA(4) 250,000 772,436
-----------------------------------------------------------------------------------------------
Mitsubishi Heavy Industries Ltd. 78,000 606,850
-----------------------------------------------------------------------------------------------
Stewart & Stevenson Services, Inc. 20,000 760,000
-----------------------------------------------------------------------------------------------
Valmet Corp., Cl. A(4) 37,000 696,189
-----------------------------------------------------------------------------------------------
Vitro Sociedad Anonima, ADR 20,000 517,500
------------
4,999,565
- ----------------------------------------------------------------------------------------------------------------------------------
POLLUTION CONTROL--0.5% Ionics, Inc.(4) 14,000 682,500
- ----------------------------------------------------------------------------------------------------------------------------------
RAILROADS--0.5% Voest-Alpine Eisenbahnsysteme AG(2) 6,000 739,111
- ----------------------------------------------------------------------------------------------------------------------------------
TRANSPORTATION: Brambles Industries Ltd. 65,000 658,964
MISCELLANEOUS--3.4% -----------------------------------------------------------------------------------------------
Kvaerner Industrier AS 37,420 1,582,162
-----------------------------------------------------------------------------------------------
Lisnave-Estaleiros Navais de Lisbona SA(4) 22,500 108,518
-----------------------------------------------------------------------------------------------
Malaysian Helicopter Services 40,000 124,014
-----------------------------------------------------------------------------------------------
Malaysian International Shipping Corp. 130,000 433,462
-----------------------------------------------------------------------------------------------
Sembawang Shipyard Ltd. 100,000 802,699
-----------------------------------------------------------------------------------------------
Singmarine Industries Ltd. 175,000 453,289
-----------------------------------------------------------------------------------------------
Unitor Ships Service AS 32,000 582,214
------------
4,745,322
- ----------------------------------------------------------------------------------------------------------------------------------
TECHNOLOGY--13.2%
- ----------------------------------------------------------------------------------------------------------------------------------
COMPUTER SOFTWARE Microsoft Corp.(4) 23,400 1,313,320
AND SERVICES--1.4% -----------------------------------------------------------------------------------------------
Oracle Systems Corp. 15,000 645,000
------------
1,958,320
- ----------------------------------------------------------------------------------------------------------------------------------
COMPUTER SYSTEMS--0.5% International Business Machines Corp. 10,000 695,000
- ----------------------------------------------------------------------------------------------------------------------------------
ELECTRONICS: Advanced Micro Devices, Inc.(4) 18,000 535,500
SEMICONDUCTORS--1.6% -----------------------------------------------------------------------------------------------
Austria Mikro Systeme International(4) 10,000 641,113
-----------------------------------------------------------------------------------------------
Motorola, Inc. 6,000 316,500
-----------------------------------------------------------------------------------------------
National Semiconductor Corp.(4) 18,000 281,250
-----------------------------------------------------------------------------------------------
Tokyo Ohka Kogyo 14,000 523,391
------------
2,297,754
</TABLE>
9 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
MARKET VALUE
SHARES SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
OFFICE EQUIPMENT Canon Inc. 40,000 $ 703,243
AND SUPPLIES--0.5%
- ----------------------------------------------------------------------------------------------------------------------------------
TELECOMMUNICATIONS--9.2% AT&T Corp. 20,000 1,080,000
-----------------------------------------------------------------------------------------------
AirTouch Communications, Inc.(4) 25,000 715,625
-----------------------------------------------------------------------------------------------
Celcaribe SA(2)(4) 284,550 347,816
-----------------------------------------------------------------------------------------------
Comcast UK Cable Partners Ltd.(4) 27,000 516,375
-----------------------------------------------------------------------------------------------
Compania de Telefonos de Chile SA 10,000 877,500
-----------------------------------------------------------------------------------------------
International CableTel, Inc.(4) 30,000 960,000
-----------------------------------------------------------------------------------------------
Korea Mobile Telecommunications 700 630,938
-----------------------------------------------------------------------------------------------
L.M. Ericsson Telephone Co., Sponsored ADR 10,000 537,500
-----------------------------------------------------------------------------------------------
Millicom International Cellular SA(4) 31,225 698,659
-----------------------------------------------------------------------------------------------
Nippon Telegraph & Telephone Corp. 100 889,158
-----------------------------------------------------------------------------------------------
Pakistan Telecommunications, GDR(2)(4) 3,322 642,807
-----------------------------------------------------------------------------------------------
Societa Finanziora Telefonica SpA 108,000 334,731
-----------------------------------------------------------------------------------------------
Technology Resources Industries(4) 100,000 409,479
-----------------------------------------------------------------------------------------------
Telecommunication de Argentina, Cl. B 115,000 768,152
-----------------------------------------------------------------------------------------------
Telecomunicazioni SpA 482,500 1,360,897
-----------------------------------------------------------------------------------------------
Telefonica de Espana, ADS 60,000 809,644
-----------------------------------------------------------------------------------------------
Telefonos de Mexico SA, Sponsored ADR 15,000 937,500
-----------------------------------------------------------------------------------------------
Vodafone Group 157,629 490,948
------------
13,007,729
- ----------------------------------------------------------------------------------------------------------------------------------
UTILITIES--2.5%
- ----------------------------------------------------------------------------------------------------------------------------------
ELECTRIC COMPANIES--1.8% Central Costanera SA, Cl. B 15,000 53,997
-----------------------------------------------------------------------------------------------
Sithe Energies, Inc.(4) 35,000 433,125
-----------------------------------------------------------------------------------------------
Veba AG 5,000 1,658,015
-----------------------------------------------------------------------------------------------
Verbund Oest Electriz 6,500 393,506
------------
2,538,643
- ----------------------------------------------------------------------------------------------------------------------------------
NATURAL GAS--0.7% British Gas PLC 200,000 941,470
------------
Total Common Stocks (Cost $76,721,250) 88,149,331
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
PREFERRED STOCKS--3.8%
- ----------------------------------------------------------------------------------------------------------------------------------
American Express Co. Debt Exchangeable for Common Stock, 6.25% 40,000 1,780,000
-----------------------------------------------------------------------------------------------
Compania de Inversiones en Telecomunicaciones SA Provisionally
Redeemable Income Debt Exchangeable for Stock, 7%, 3/3/98(2) 25,000 1,700,000
-----------------------------------------------------------------------------------------------
Klein, Schanjlin & Becker AG 2,000 444,715
-----------------------------------------------------------------------------------------------
Spar Handels, AG, Non-Vtg. 2,000 451,161
-----------------------------------------------------------------------------------------------
Trafalgar House PLC, 6%, Cum. Cv. 540,000 970,802
------------
Total Preferred Stocks (Cost $5,076,631) 5,346,678
</TABLE>
10 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
FACE MARKET VALUE
AMOUNT SEE NOTE 1
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
STRUCTURED INSTRUMENTS--1.1%
- ----------------------------------------------------------------------------------------------------------------------------------
Citibank, 16.75% CD, 12/19/94(5) $ 423,653,758(3) $ 1,027,662
-------------------------------------------------------------------------------------------------
Morgan Guaranty Trust Co. of New York, 12.15% CD, 2/3/95(5) 1,056,625,000(3) 485,570
------------
Total Structured Instruments (Cost $1,484,098) 1,513,232
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENTS, AT VALUE (COST $129,022,525) 99.1% 139,715,440
- ----------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS NET OF LIABILITIES .9 1,310,018
-------------- ------------
NET ASSETS 100.0% $141,025,458
-------------- ------------
-------------- ------------
<FN>
1. Interest or dividend is paid in kind.
2. Restricted security--See Note 5 of Notes to Financial Statements.
3. Face amount is reported in foreign currency.
4. Non-income producing security.
5. Indexed instrument for which the principal amount at maturity is affected by the relative
value of a foreign currency.
6. Represents a zero coupon bond that converts to a fixed rate of interest at a designated future
date.
7. Represents the current interest rate for a variable rate security.
8. Partial interest payment received.
See accompanying Notes to Financial Statements.
</TABLE>
11 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES September 30, 1994
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
ASSETS Investments, at value (cost $129,022,525)--see accompanying statement $139,715,440
-----------------------------------------------------------------------------------------------
Cash 35,008
-----------------------------------------------------------------------------------------------
Receivables:
Dividends and interest 1,241,425
Investments sold 628,062
Shares of beneficial interest sold 522,367
-----------------------------------------------------------------------------------------------
Deferred organization costs 3,322
-----------------------------------------------------------------------------------------------
Other 20,702
------------
Total assets 142,166,326
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
LIABILITIES Payables and other liabilities:
Investments purchased 641,979
Shares of beneficial interest redeemed 299,474
Distribution and service plan fees--Note 4 87,170
Other 112,245
------------
Total liabilities 1,140,868
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
NET ASSETS $141,025,458
------------
------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
COMPOSITION OF Paid-in capital $123,289,382
NET ASSETS -----------------------------------------------------------------------------------------------
Overdistributed net investment income (346,718)
-----------------------------------------------------------------------------------------------
Accumulated net realized gain from investment and foreign currency transactions 7,382,396
-----------------------------------------------------------------------------------------------
Net unrealized appreciation on investments and translation
of assets and liabilities denominated in foreign currencies 10,700,398
------------
Net assets $141,025,458
------------
------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
NET ASSET VALUE Class A Shares:
PER SHARE Net asset value and redemption price per share (based on net
assets of $124,017,204 and 8,154,308 shares of beneficial interest outstanding) $15.21
Maximum offering price per share (net asset value plus sales
charge of 5.75% of offering price) $16.14
-----------------------------------------------------------------------------------------------
Class C Shares:
Net asset value, redemption price and offering price per share
(based on net assets of $17,008,254 and 1,121,299 shares of
beneficial interest outstanding) $15.17
See accompanying Notes to Financial Statements.
</TABLE>
12 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------
STATEMENT OF OPERATIONS For the Year Ended September 30, 1994
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
INVESTMENT INCOME Interest (net of withholding taxes of $11,876) $ 3,739,984
-----------------------------------------------------------------------------------------------
Dividends (net of withholding taxes of $167,303) 1,145,885
------------
Total income 4,885,869
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
EXPENSES Management fees--Note 4 945,062
-----------------------------------------------------------------------------------------------
Distribution and service plan fees:
Class A--Note 4 288,568
Class C--Note 4 65,984
-----------------------------------------------------------------------------------------------
Transfer and shareholder servicing agent fees--Note 4 272,744
-----------------------------------------------------------------------------------------------
Custodian fees and expenses 130,012
-----------------------------------------------------------------------------------------------
Shareholder reports 88,581
-----------------------------------------------------------------------------------------------
Legal and auditing fees 39,014
-----------------------------------------------------------------------------------------------
Trustees' fees and expenses 13,870
-----------------------------------------------------------------------------------------------
Registration and filing fees:
Class A 9,678
Class C 5,736
-----------------------------------------------------------------------------------------------
Other 47,113
------------
Total expenses 1,906,362
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
NET INVESTMENT INCOME 2,979,507
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
REALIZED AND UNREALIZED Net realized gain (loss) from:
GAIN (LOSS) ON INVESTMENTS Investments 8,087,632
AND FOREIGN CURRENCY Foreign currency transactions 345,067
TRANSACTIONS ------------
Net realized gain 8,432,699
-----------------------------------------------------------------------------------------------
Net change in unrealized appreciation or depreciation on:
Investments 1,074,191
Translation of assets and liabilities denominated in foreign currencies 459,238
------------
Net change 1,533,429
------------
Net realized and unrealized gain on investments and foreign currency transactions 9,966,128
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 12,945,635
------------
------------
See accompanying Notes to Financial Statements.
</TABLE>
13 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------
STATEMENTS OF CHANGES IN NET ASSETS
YEAR ENDED SEPTEMBER 30,
1994 1993
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
OPERATIONS Net investment income $ 2,979,507 $ 1,607,411
------------------------------------------------------------------------------------------------
Net realized gain on investments and foreign currency
transactions 8,432,699 2,657,100
------------------------------------------------------------------------------------------------
Net change in unrealized appreciation or depreciation on
investments and translation of assets and liabilities
denominated in foreign currencies 1,533,429 8,068,309
------------ -----------
Net increase in net assets resulting from operations 12,945,635 12,332,820
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
DIVIDENDS AND Dividends from net investment income:
DISTRIBUTIONS TO Class A ($.35 and $.173 per share, respectively) (2,811,077) (867,342)
SHAREHOLDERS Class C ($.289 per share) (180,983) --
-----------------------------------------------------------------------------------------------
Distributions from net realized gain on investments
and foreign currency transactions:
Class A ($.481 and $.105 per share, respectively) (3,355,571) (450,227)
Class C ($.481 per share) (7,409) --
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
BENEFICIAL INTEREST Net increase in net assets resulting from Class A beneficial
TRANSACTIONS interest transactions--Note 2 31,386,177 25,269,073
-----------------------------------------------------------------------------------------------
Net increase in net assets resulting from Class C beneficial
interest transactions--Note 2 17,029,695 --
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
NET ASSETS Total increase 55,006,467 36,284,324
-----------------------------------------------------------------------------------------------
Beginning of year 86,018,991 49,734,667
------------ -----------
End of year [including undistributed (overdistributed) net
investment income of ($346,718) and $854,919, respectively] $141,025,458 $86,018,991
------------ -----------
------------ -----------
See accompanying Notes to Financial Statements.
</TABLE>
14 Oppenheimer Global Growth & Income Fund
<PAGE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
CLASS A CLASS C
------------------------------------------------- -------------
YEAR ENDED PERIOD ENDED
SEPTEMBER 30, SEPTEMBER 30,
1994 1993 1992 1991(2) 1994(1)
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PER SHARE OPERATING DATA:
Net asset value,
beginning of period $14.09 $11.91 $12.43 $11.43 $14.85
-----------------------------------------------------------------------------------------------
Income (loss) from
investment operations:
Net investment income .33 .29 .26 .37 .22
Net realized and unrealized
gain (loss) on investments
and foreign currency
transactions 1.62 2.17 (.47) .95 .87
------- ------- ------- ------- -------
Total income (loss) from
investment operations 1.95 2.46 (.21) 1.32 1.09
-----------------------------------------------------------------------------------------------
Dividends and distributions
to shareholders:
Dividends from net investment
income (.35) (.17) (.28) (.32) (.29)
Distributions from net realized
gain on investments and foreign
currency transactions (.48) (.11) (.03) -- (.48)
------- ------- ------- ------- -------
Total dividends and
distributions to shareholders (.83) (.28) (.31) (.32) (.77)
-----------------------------------------------------------------------------------------------
Net asset value, end of period $15.21 $14.09 $11.91 $12.43 $15.17
------- ------- ------- ------- -------
------- ------- ------- ------- -------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL RETURN, AT NET ASSET
VALUE(3) 13.96% 21.00% (1.76)% 11.73% 7.41%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period
(in thousands) $124,017 $86,019 $49,735 $29,239 $17,008
-----------------------------------------------------------------------------------------------
Average net assets
(in thousands) $117,164 $59,951 $37,116 $19,340 $ 7,896
-----------------------------------------------------------------------------------------------
Number of shares outstanding
at end of period (in
thousands) 8,154 6,104 4,177 2,352 1,121
-----------------------------------------------------------------------------------------------
Ratios to average net assets:
Net investment income 2.44% 2.68% 2.41% 4.05%(4) 1.85%(4)
Expenses 1.49% 1.56% 1.74% 1.94%(4) 2.44%(4)
-----------------------------------------------------------------------------------------------
Portfolio turnover rate(5) 87.4% 90.6% 51.3% 23.5% 87.4%
<FN>
1. For the period from December 1, 1993 (inception of offering) to September 30, 1994.
2. For the period from October 22, 1990 (commencement of operations) to September 30, 1991.
3. Assumes a hypothetical initial investment on the business day before the first day of the
fiscal period, with all dividends and distributions reinvested in additional shares on the
reinvestment date, and redemption at the net asset value calculated on the last business day of
the fiscal period. Sales charges are not reflected in the total returns.
4. Annualized.
5. The lesser of purchases or sales of portfolio securities for a period, divided by the monthly
average of the market value of portfolio securities owned during the period. Securities with a
maturity or expiration date at the time of acquisition of one year or less are excluded from the
calculation. Purchases and sales of investment securities (excluding short-term securities) for
the year ended September 30, 1994 were $149,601,811 and $98,419,511, respectively.
See accompanying Notes to Financial Statements.
</TABLE>
15 Oppenheimer Global Growth & Income Fund
<PAGE>
----------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. SIGNIFICANT Oppenheimer Global Growth & Income Fund (the Fund) is
ACCOUNTING registered under the Investment Company Act of 1940, as
POLICIES amended, as a diversified, open-end management investment
company. The Fund's investment advisor is Oppenheimer
Management Corporation (the Manager). The Fund offers both
Class A and Class C shares. Class A shares are sold with a
front-end sales charge. Class C shares may be subject to a
contingent deferred sales charge. Both classes have
identical rights to earnings, assets and voting
privileges, except that each class has its own
distribution and/or service plan, expenses directly
attributable to a particular class and exclusive voting
rights with respect to matters affecting a single class.
The following is a summary of significant accounting
policies consistently followed by the Fund.
----------------------------------------------------------
INVESTMENT VALUATION. Portfolio securities are valued at
4:00 p.m. (New York time) on each trading day. Listed and
unlisted securities for which such information is
regularly reported are valued at the last sale price of
the day or, in the absence of sales, at values based on
the closing bid or asked price or the last sale price on
the prior trading day. Long-term debt securities are
valued by a portfolio pricing service approved by the
Board of Trustees. Long-term debt securities which cannot
be valued by the approved portfolio pricing service are
valued by averaging the mean between the bid and asked
prices obtained from two active market makers in such
securities. Short-term debt securities having a remaining
maturity of 60 days or less are valued at cost (or last
determined market value) adjusted for amortization to
maturity of any premium or discount. Securities for which
market quotes are not readily available are valued under
procedures established by the Board of Trustees to
determine fair value in good faith.
----------------------------------------------------------
FOREIGN CURRENCY TRANSLATION. The accounting records of
the Fund are maintained in U.S. dollars. Prices of
securities denominated in foreign currencies are
translated into U.S. dollars at the closing rates of
exchange. Amounts related to the purchase and sale of
securities and investment income are translated at the
rates of exchange prevailing on the respective dates of
such transactions.
The Fund generally enters into forward currency
exchange contracts as a hedge, upon the purchase or sale
of a security denominated in a foreign currency. Risks may
arise from the potential inability of the counterparty to
meet the terms of the contract and from unanticipated
movements in the value of a foreign currency relative to
the U.S. dollar.
The effect of changes in foreign currency
exchange rates on investments is separately identified
from the fluctuations arising from changes in market
values of securities held and reported with all other
foreign currency gains and losses in the Fund's results of
operations.
----------------------------------------------------------
REPURCHASE AGREEMENTS. The Fund requires the custodian to
take possession, to have legally segregated in the Federal
Reserve Book Entry System or to have segregated within the
custodian's vault, all securities held as collateral for
repurchase agreements. If the seller of the agreement
defaults and the value of the collateral declines, or if
the seller enters an insolvency proceeding, realization of
the value of the collateral by the Fund may be delayed or
limited.
----------------------------------------------------------
ALLOCATION OF INCOME, EXPENSES AND GAINS AND LOSSES.
Income, expenses (other than those attributable to a
specific class) and gains and losses are allocated daily
to each class of shares based upon the relative proportion
of net assets represented by such class. Operating
expenses directly attributable to a specific class are
charged against the operations of that class.
16 Oppenheimer Global Growth & Income Fund
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. SIGNIFICANT FEDERAL INCOME TAXES. The Fund intends to continue to
ACCOUNTING comply with provisions of the Internal Revenue Code
POLICIES applicable to regulated investment companies and to
(CONTINUED) distribute all of its taxable income, including any net
realized gain on investments not offset by loss
carryovers, to shareholders. Therefore, no federal income
tax provision is required.
----------------------------------------------------------
TRUSTEES' FEES AND EXPENSES. The Fund has adopted a
nonfunded retirement plan for the Fund's independent
trustees. Benefits are based on years of service and fees
paid to each trustee during the years of service. During
the year ended September 30, 1994, a provision of $5,376
was made for the Fund's projected benefit obligations,
resulting in an accumulated liability of $34,106 at
September 30, 1994. No payments have been made under the
plan.
----------------------------------------------------------
ORGANIZATION COSTS. The Manager advanced $15,751 for
organization and start-up costs of the Fund. Such expenses
are being amortized over a five-year period from the date
operations commenced. In the event that all or part of the
Manager's initial investment in shares of the Fund is
withdrawn during the amortization period, the redemption
proceeds will be reduced to reimburse the Fund for any
unamortized expenses, in the same ratio as the number of
shares redeemed bears to the number of initial shares
outstanding at the time of such redemption.
----------------------------------------------------------
DISTRIBUTIONS TO SHAREHOLDERS. Dividends and distributions
to shareholders are recorded on the ex-dividend date.
----------------------------------------------------------
CHANGE IN ACCOUNTING FOR DISTRIBUTIONS TO SHAREHOLDERS.
Effective October 1, 1993, the Fund adopted Statement of
Position 93-2: Determination, Disclosure, and Financial
Statement Presentation of Income, Capital Gain, and Return
of Capital Distributions by Investment Companies. As a
result, the Fund 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, subsequent to September 30,
1993, amounts have been reclassified to reflect a decrease
in paid-in capital of $135, a decrease in undistributed
net investment income of $946,781, and an increase in
undistributed capital gain on investments of $946,916.
During the year ended September 30, 1994, in accordance
with Statement of Position 93-2, undistributed net
investment income was decreased by $242,303 and
undistributed capital gain was increased by $242,303.
----------------------------------------------------------
OTHER. Investment transactions are accounted for on the
date the investments are purchased or sold (trade date)
and dividend income is recorded on the ex-dividend date.
Discount on securities purchased is amortized over the
life of the respective securities, in accordance with
federal income tax requirements. Realized gains and losses
on investments and unrealized appreciation and
depreciation are determined on an identified cost basis,
which is the same basis used for federal income tax
purposes.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
2. SHARES OF The Fund has authorized an unlimited number of no par
BENEFICIAL value shares of beneficial interest of each class.
INTEREST Transactions in shares of beneficial interest were as
follows:
<TABLE>
<CAPTION>
YEAR ENDED SEPTEMBER 30, 1994(1) YEAR ENDED SEPTEMBER 30, 1993
-------------------------------- -----------------------------
SHARES AMOUNT SHARES AMOUNT
<S> <C> <C> <C> <C>
Class A:
Sold 4,823,552 $ 73,290,047 3,291,571 $ 42,379,689
Dividends and distributions reinvested 392,494 5,940,555 102,240 1,265,994
Redeemed (3,165,575) (47,844,425) (1,466,579) (18,376,610)
---------- ------------ ---------- ------------
Net increase 2,050,471 $ 31,386,177 1,927,232 $ 25,269,073
---------- ------------ ---------- ------------
---------- ------------ ---------- ------------
------------------------------------------------------------------------------------------------------------
Class C:
Sold 1,177,454 $ 17,876,870 -- $ --
Dividends and distributions reinvested 11,355 170,041 -- --
Redeemed (67,510) (1,017,216) -- --
---------- ------------ ---------- ------------
Net increase 1,121,299 $ 17,029,695 -- $ --
---------- ------------ ---------- ------------
---------- ------------ ---------- ------------
<FN>
1. For the year ended September 30, 1994 for Class A shares and for the period from December 1, 1993
(inception of offering) to September 30, 1994 for Class C shares.
</TABLE>
17 Oppenheimer Global Growth & Income Fund
<PAGE>
----------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (Continued)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
3. UNREALIZED GAINS At September 30, 1994, net unrealized appreciation on
AND LOSSES ON investments of $10,692,915 was composed of gross
INVESTMENTS appreciation of $14,960,634, and gross depreciation of
$4,267,719.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
4. MANAGEMENT FEES Management fees paid to the Manager were in accordance
AND OTHER with the investment advisory agreement with the Fund which
TRANSACTIONS provides for a fee of .80% on the first $250 million of
WITH AFFILIATES average annual net assets; the rate is .77% of the next
$250 million, .75% of the next $500 million, .69% of the
next $1 billion and .67% thereafter. Prior to June 27,
1994, management fees were as follows: .75% on the first
$200 million of net assets with a reduction of .03% on
each $200 million thereafter to $800 million, and .60% on
net assets in excess of $800 million. The Manager has
agreed to reimburse the Fund if aggregate expenses (with
specified exceptions) exceed the most stringent applicable
regulatory limit on Fund expenses.
For the year ended September 30, 1994,
commissions (sales charges paid by investors) on sales of
Class A shares totaled $1,020,885, of which $286,660 was
retained by Oppenheimer Funds Distributor, Inc. (OFDI), a
subsidiary of the Manager, as general distributor, and by
an affiliated broker/dealer. During the year ended
September 30, 1994, OFDI received contingent deferred
sales charges of $3,352 upon redemption of Class C shares,
as reimbursement for sales commissions advanced by OFDI at
the time of sale of such shares. Oppenheimer Shareholder
Services (OSS), a division of the Manager, is the transfer
and shareholder servicing agent for the Fund, and for
other registered investment companies. OSS's total costs
of providing such services are allocated ratably to these
companies.
Under separate approved plans, each class may
expend up to .25% of its net assets annually to reimburse
OFDI for costs incurred in connection with the personal
service and maintenance of accounts that hold shares of
the Fund, including amounts paid to brokers, dealers,
banks and other financial institutions. In addition, Class
C shares are subject to an asset-based sales charge of
.75% of net assets annually, to reimburse OFDI for sales
commissions paid from its own resources at the time of
sale and associated financing costs. In the event of
termination or discontinuance of the Class C plan, the
Board of Trustees may allow the Fund to continue payment
of the asset-based sales charge to OFDI for distribution
expenses incurred on Class C shares sold prior to
termination or discontinuance of the plan. During the year
ended September 30, 1994, OFDI paid $9,123 to an
affiliated broker/dealer as reimbursement for Class A
personal service and maintenance expenses and retained
$65,984 as reimbursement for Class C sales commissions and
service fee advances, as well as financing costs.
18 Oppenheimer Global Growth & Income Fund
<PAGE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
5. RESTRICTED The Fund owns securities purchased in private placement
SECURITIES transactions, without registration under the Securities
Act of 1933 (the Act). The securities are valued under
methods approved by the Board of Trustees as reflecting
fair value. The Fund intends to invest no more than 10% of
its net assets (determined at the time of purchase) in
restricted and illiquid securities, excluding securities
eligible for resale pursuant to Rule 144A of the Act that
are determined to be liquid by the Board of Trustees or by
the Manager under Board-approved guidelines. Restricted
and illiquid securities, excluding securities eligible for
resale pursuant to Rule 144A of the Act amount to
$1,255,285 or .9% of the Fund's net assets, at September
30, 1994. Illiquid and/or restricted securities, including
those restricted securities that are transferable under
Rule 144A of the Act are listed below.
<TABLE>
<CAPTION>
VALUATION PER UNIT
COST AS OF
SECURITY ACQUISITION DATE PER UNIT SEPTEMBER 30, 1994
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Banco Nacional de Comercio Exterior SNC International
Finance BV Gtd. Matador Bonds, 8%, 8/5/03(1) 11/12/93 $ 97.88 $ 87.25
------------------------------------------------------------------------------------------------------------
Banco Nacional de Mexico SA, 7% Exch. Sub. Debs.,
12/15/99(1) 12/1/92 $100.00 $116.13
------------------------------------------------------------------------------------------------------------
Brazil (Federal Republic of) Bonds, Banco Do
Nordeste Brasil, 10.375%, 11/6/95(1) 4/27/93 $ 99.80 $100.38
------------------------------------------------------------------------------------------------------------
Celcaribe SA(1) 5/17/94 $ 1.19 $ 1.22
------------------------------------------------------------------------------------------------------------
Celcaribe SA, 0%/13.50% Sr. Sec. Nts., 3/15/04(1) 5/17/94 $ 60.78 $ 63.37
------------------------------------------------------------------------------------------------------------
Charter Medical Corp., 11.25% Sr. Sub. Nts., 4/15/04(1) 4/22/94 $100.00 $103.50
------------------------------------------------------------------------------------------------------------
Compania de Inversiones en Telecomunicaciones SA
Provisionally Redeemable Income Debt Exchangeable
for Stock, 7%, 3/3/98(1) 2/24/94--4/20/94 $ 67.40 $ 68.00
------------------------------------------------------------------------------------------------------------
Grupo Televisa SA, Sponsored ADR(1) 4/28/92 $ 27.63 $ 57.88
------------------------------------------------------------------------------------------------------------
Hansol Paper Ltd., Sponsored GDR(1) 5/9/94 $ 53.41 $ 43.82
------------------------------------------------------------------------------------------------------------
Industrial Credit and Investment Corp. India Ltd.,
2.50% Cv. Debs, 4/30/00(1) 2/3/94 $100.00 $ 88.75
------------------------------------------------------------------------------------------------------------
International Container Terminal Services, Inc.,
6% Cv. Sr. Nts., 2/19/00(1) 2/19/93 $100.00 $140.00
------------------------------------------------------------------------------------------------------------
Jindal Strips Ltd., 4.25% Cv. Debs., 3/31/99(1) 11/9/93 $100.00 $134.50
------------------------------------------------------------------------------------------------------------
Mavesa ADR(1) 8/25/94 $ 5.88 $ 6.59
------------------------------------------------------------------------------------------------------------
PT Panin Bank(1) 7/29/93 $ 0.87 $ 1.83
------------------------------------------------------------------------------------------------------------
Pakistan Telecommunications, GDR(1) 9/19/94--9/30/94 $185.16 $193.50
------------------------------------------------------------------------------------------------------------
Piv Investment Financial Cayman
Ltd., 4.50% Cv. Gtd. Bonds, 12/1/00(1) 1/25/94 $100.00 $ 81.50
------------------------------------------------------------------------------------------------------------
Plant Genetics Systems International NV 5/27/92 $ 11.18 $ 9.33
------------------------------------------------------------------------------------------------------------
Polish People's Republic Loan
Participation Agreement, 5.875%, 2/3/24 1/24/94 $ 41.49 $ 39.42
------------------------------------------------------------------------------------------------------------
Shangri-La Asia Ltd., 2.875% Cv. Sub. Debs., 6/6/00(1) 12/9/93 $ 86.24 $ 85.50
------------------------------------------------------------------------------------------------------------
Subic Power Corp., 9.50% Sr. Sec. Nts., Series A,
12/28/08(1) 12/20/93 $ 99.93 $ 92.25
------------------------------------------------------------------------------------------------------------
Thermo Electron Corp., 4.625% Cv. Sr. Debs., 8/1/97(1) 7/15/92 $100.00 $143.75
------------------------------------------------------------------------------------------------------------
Tung Ho Steel Enterprise Corp., GDR(1) 9/9/94 $ 17.20 $ 17.00
------------------------------------------------------------------------------------------------------------
VA Technologie AG(1) 8/26/94--8/30/94 $103.49 $ 99.74
------------------------------------------------------------------------------------------------------------
Voest-Alpine Eisenbahnsysteme AG(1) 7/19/93--12/7/93 $104.98 $123.19
<FN>
1. Transferable under Rule 144A of the Act.
</TABLE>
19 Oppenheimer Global Growth & Income Fund
<PAGE>
----------------------------------------------------------
INDEPENDENT AUDITORS' REPORT
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
The Board of Trustees and Shareholders of Oppenheimer
Global Growth & Income Fund:
We have audited the accompanying statements of investments
and assets and liabilities of Oppenheimer Global Growth &
Income Fund as of September 30, 1994, and the related
statement of operations for the year then ended, the
statements of changes in net assets for each of the years
in the two-year period then ended and the financial
highlights for each of the years in the three-year period
then ended and the period from October 22, 1990
(commencement of operations) to September 30, 1991. These
financial statements and financial highlights are the
responsibility of the Fund's management. Our
responsibility is to express an opinion on these financial
statements and financial highlights based on our audits.
We conducted our audits in accordance with
generally accepted auditing standards. Those standards
require that we plan and perform the audit to obtain
reasonable assurance about whether the financial
statements and financial highlights are free of material
misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in
the financial statements and financial highlights. Our
procedures included confirmation of securities owned as of
September 30, 1994, by correspondence with the custodian
and brokers; and where confirmations were not received
from brokers, we performed other auditing procedures. An
audit also includes assessing the accounting principles
used and significant estimates made by management, as well
as evaluating the overall financial statement
presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements and
financial highlights referred to above present fairly, in
all material respects, the financial position of
Oppenheimer Global Growth & Income Fund as of September
30, 1994, the results of its operations for the year then
ended, the changes in its net assets for each of the years
in the two-year period then ended, and the financial
highlights for each of the years in the three-year period
then ended and the period from October 22, 1990
(commencement of operations) to September 30, 1991, in
conformity with generally accepted accounting principles.
KPMG PEAT MARWICK LLP
Denver, Colorado
October 21, 1994
20 Oppenheimer Global Growth & Income Fund
<PAGE>
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FEDERAL INCOME TAX INFORMATION (Unaudited)
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In early 1995, shareholders will receive information
regarding all dividends and distributions paid to them by
the Fund during calendar year 1994. Regulations of the
U.S. Treasury Department require the Fund to report this
information to the Internal Revenue Service.
A distribution of $.481 was paid on December 27,
1993. For each class of shares, $.228 of the distribution
was designated as a ``capital gain distribution'' for
federal income tax purposes. Whether received in stock or
cash, the capital gain distribution should be treated by
shareholders as a gain from the sale of capital assets
held for more than one year (long-term capital gains).
Dividends paid by the Fund during the fiscal
year ended September 30, 1994 which are not designated as
capital gain distributions should be multiplied by 1.16%
to arrive at the net amount eligible for the corporate
dividend-received deduction.
The foregoing information is presented to assist
shareholders in reporting distributions received from the
Fund to the Internal Revenue Service. Because of the
complexity of the federal regulations which may affect
your individual tax return and the many variations in
state and local tax regulations, we recommend that you
consult your tax advisor for specific guidance.
21 Oppenheimer Global Growth & Income Fund
<PAGE>
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OPPENHEIMER GLOBAL GROWTH & INCOME FUND
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OFFICERS AND Leon Levy, Chairman of the Board of Trustees
TRUSTEES Leo Cherne, Trustee
Edmund T. Delaney, Trustee
Robert G. Galli, Trustee
Benjamin Lipstein, Trustee
Elizabeth B. Moynihan, Trustee
Kenneth A. Randall, Trustee
Edward V. Regan, Trustee
Russell S. Reynolds, Jr., Trustee
Sidney M. Robbins, Trustee
Donald W. Spiro, Trustee and President
Pauline Trigere, Trustee
Clayton K. Yeutter, Trustee
William L. Wilby, Vice President
George C. Bowen, Treasurer
Robert J. Bishop, Assistant Treasurer
Scott Farrar, Assistant Treasurer
Andrew J. Donohue, Secretary
Robert G. Zack, Assistant Secretary
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INVESTMENT ADVISOR Oppenheimer Management Corporation
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DISTRIBUTOR Oppenheimer Funds Distributor, Inc.
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TRANSFER AND Oppenheimer Shareholder Services
SHAREHOLDER
SERVICING AGENT
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CUSTODIAN OF The Bank of New York
PORTFOLIO
SECURITIES
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INDEPENDENT AUDITORS KPMG Peat Marwick LLP
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LEGAL COUNSEL Gordon Altman Butowsky Weitzen Shalov & Wein
This is a copy of a report to shareholders of Oppenheimer
Global Growth & Income Fund. This report must be preceded
or accompanied by a Prospectus of Oppenheimer Global
Growth & Income Fund. For material information concerning
the Fund, see the Prospectus.
22 Oppenheimer Global Growth & Income Fund
<PAGE>
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OPPENHEIMERFUNDS FAMILY
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OppenheimerFunds offers over 35 funds designed to fit
virtually every investment goal. Whether you're investing
for retirement, your children's education or tax-free
income, we have the funds to help you seek your objective.
When you invest with OppenheimerFunds, you can
feel comfortable knowing that you are investing with a
respected financial institution with over 30 years of
experience in helping people just like you reach their
financial goals. And you're investing with a leader in
global, growth stock and flexible fixed-income
investments--with over 1.8 million shareholder accounts
and more than $26 billion under Oppenheimer's management
and that of our affiliates.
As an OppenheimerFunds shareholder, you can
easily exchange shares of eligible funds of the same class
by mail or by telephone for a small administrative fee.(1)
For more information on OppenheimerFunds, lease contact
your financial advisor or call us at 1-800-525-7048 for a
prospectus. You may also write us at the address shown on
the back cover. As always, please read the prospectus
carefully before you invest.
<TABLE>
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
STOCK FUNDS Discovery Fund Global Fund
Global Emerging Growth Fund(2) Oppenheimer Fund
Time Fund Value Stock Fund
Target Fund Gold & Special Minerals Fund
Growth Fund(3)
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
STOCK & BOND FUNDS Main Street Income & Growth Fund Equity Income Fund
Total Return Fund Asset Allocation Fund
Global Growth & Income Fund
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BOND FUNDS High Yield Fund Strategic Short-Term Income Fund
Champion High Yield Fund Investment Grade Bond Fund
Strategic Income & Growth Fund Mortgage Income Fund
Strategic Income Fund U.S. Government Trust
Strategic Diversified Income Fund Limited-Term Government
Strategic Investment Grade Bond Fund
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
TAX-EXEMPT FUNDS New York Tax-Exempt Fund(4) New Jersey Tax-Exempt Fund(4)
California Tax-Exempt Fund(4) Tax-Free Bond Fund
Pennsylvania Tax-Exempt Fund(4) Insured Tax-Exempt Bond Fund
Florida Tax-Exempt Fund(4) Intermediate Tax-Exempt Bond Fund
- ----------------------------------------------------------------------------------------------------------------------------------
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MONEY MARKET FUNDS Money Market Fund Cash Reserves
<FN>
1. The fee is waived for PhoneLink exchanges between
existing accounts. Exchange privileges are subject to
change or termination.
2. Formerly Oppenheimer Global Bio-Tech Fund and
Oppenheimer Global Environment Fund.
3. Formerly Special Fund.
4. Available only to residents of those states.
OppenheimerFunds are distributed by Oppenheimer Funds
Distributor, Inc., Two World Trade Center, New York, NY
10048-0203.
(C) Copyright 1994 Oppenheimer Management Corporation. All
rights reserved.
</TABLE>
23 Oppenheimer Global Growth & Income Fund
<PAGE>
"HOW MAY I HELP YOU?"
- --------------------------------------------------------------------------------
GENERAL INFORMATION
1-800-525-7048
Talk to a Customer Service Representative.
Monday through Friday from 8:30 a.m. to 8:00 p.m., and Saturday from 10:00 a.m.
to 2:00 p.m. ET.
TELEPHONE TRANSACTIONS
1-800-852-8457
Make account transactions with a Customer Service Representative.
Monday through Friday from 8:30 a.m. to 8:00 p.m. ET.
photo B.H
PHONELINK
1-800-533-3310
Get automated information or make automated transactions.
24 hours a day, 7 days a week.
TELECOMMUNICATION DEVICE FOR THE DEAF icsa logo
1-800-843-4461
Service for the hearing impaired.
Monday through Friday from
8:30 a.m. to 8:00 p.m. ET.
OPPENHEIMERFUNDS
INFORMATION HOTLINE
1-800-835-3104
Hear timely and insightful messages on the economy and issues that affect your
finances. 24 hours a day, 7 days a week.
"Just as OppenheimerFunds offers over 35 different mutual funds designed to help
meet virtually every investment need, Oppenheimer Shareholder Services offers a
variety of services to satisfy your individual needs. Whenever you require help,
we're only a toll-free phone call away.
"For personalized assistance and account information, call our General
Information number to speak with our knowledgeable Customer Service
Representatives and get the help you need.
"When you want to make account transactions, it's easy for you to
redeem shares, exchange shares, or conduct AccountLink transactions, simply by
calling our Telephone Transactions number.
"And for added convenience, OppenheimerFunds' PhoneLink, an automated
voice response system is available 24 hours a day, 7 days a week. PhoneLink
gives you access to a variety of fund, account, and market information. You can
even make purchases, exchanges and redemptions using your touch-tone phone. Of
course, PhoneLink will always give you the option to speak with a Customer
Service Representative during the hours shown to the left.
"When you invest in OppenheimerFunds, you know you'll receive a high
level of customer service. The International Customer Service Association knows
it, too, as it awarded Oppenheimer Shareholder Services a 1993 Award of
Excellence for consistently demonstrating superior customer service.
"Whatever your needs, we're ready to assist you."
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[OppenheimerFunds LOGO] Bulk Rate
Oppenheimer Funds Distributor, Inc. U.S. Postage
P.O. Box 5270 PAID
Denver, CO 80217-5270 Permit No. 377
Hackensack, NJ
