OPPENHEIMER GLOBAL GROWTH & INCOME FUND
Supplement dated September 25, 1998 to the
Prospectus dated January 28, 1998
The Prospectus is revised as follows:
1. The supplement dated May 15, 1998 is replaced by this supplement.
2. Footnote number 1 under the table entitled "Shareholder Transaction Expenses"
on page 3 is modified to read as follows:
(1) If you invest $1 million or more ($500,000 or more for purchases by
"Retirement Plans" as defined in "Class A Contingent Deferred Sales
Charge" on page 32) in Class A shares, you may have to pay a sales charge
of up to 1% if you sell your shares within 18 calendar months from the end
of the calendar month during which you purchased those shares. See "How to
Buy Shares -- Buying Class A Shares," below.
3. The following paragraph is added below the last paragraph of the section
titled "Foreign Securities Risks" on page 16.
Risks of Conversion to Euro. On January 1, 1999, eleven countries
in the European Monetary Union will adopt the euro as their official currency.
However, their current currencies (for example, the franc, the mark, and the
lire) will also continue in use until January 1, 2002. After that date, it is
expected that only the euro will be used in those countries. A common currency
is expected to confer some benefits in those markets, by consolidating the
government debt market for those countries and reducing some currency risks and
costs. But the conversion to the new currency will affect the Fund operationally
and also has potential risks, some of which are listed below. Among other
things, the conversion will affect:
o issuers in which the Fund invests, because of changes in the competitive
environment from a consolidated currency market and greater operational
costs from converting to the new currency. This might depress stock
values. o vendors the Fund depends on to carry out its business, such as
its Custodian (which holds the foreign securities the Fund buys), the
Manager (which must price the Fund's investments to deal with the
conversion to the euro) and brokers, foreign markets and securities
depositories. If they are not prepared, there could be delays in
settlements and additional costs to the Fund. o exchange contracts and
derivatives that are outstanding during the transition to the euro. The
lack of currency rate calculations between the affected currencies and the
need to update the Fund's contracts could pose extra costs to the Fund.
[continued]
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The Manager is upgrading (at its expense) its computer and bookkeeping systems
to deal with the conversion. The Fund's Custodian has advised the Manager of its
plans to deal with the conversion, including how it will update its record
keeping systems and handle the redenomination of outstanding foreign debt. The
Fund's portfolio manager will also monitor the effects of the conversion on the
issuers in which the Fund invests. The possible effect of these factors on the
Fund's investments cannot be determined with certainty at this time, but they
may reduce the value of some of the Fund's holdings and increase its operational
costs.
4. The second sentence of the paragraph entitled "Class A Shares" in the section
entitled "How to Buy Shares -- Classes of Shares" on page 28 is modified to read
as follows:
If you purchase Class A shares as part of an investment of at least $1
million ($500,000 for Retirement Plans) in shares of one or more
Oppenheimer funds, you will not pay an initial sales charge, but if you
sell any of those shares within 18 months of buying them, you may pay a
contingent deferred sales charge, described below.
5. The first and second sentences of the third paragraph of the section entitled
"Buying Class A Shares -- Class A Contingent Deferred Sales Charge" on page 33
are modified to read as follows:
If you redeem any Class A shares subject to the contingent deferred sales
charge described above within 18 months of the end of the calendar month
of their purchase, a contingent deferred sales charge (called the "Class A
contingent deferred sales charge") may be deducted from the redemption
proceeds. (A different holding period may apply to shares purchased prior
to June 1, 1998).
6. The second sentence of the fifth paragraph of the section entitled "Buying
Class A Shares -- Class A Contingent Deferred Sales Charge" on page 33 is
modified to read as follows:
However, if the shares acquired by exchange are redeemed within 18 months
of the end of the calendar month of the purchase of the exchanged shares,
the contingent deferred sales charge will apply. (A different holding
period may apply to shares purchased prior to June 1, 1998).
7. The paragraph entitled "Special Arrangements With Dealers" on page 34 is
hereby deleted.
[continued]
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8. The following sub-paragraphs of the section entitled " Waivers of Class A
Sales Charges" on page 37 are deleted:
G if, at the time of purchase of shares (if purchased prior to May
1, 1997) the dealer agreed in writing to accept the dealer's portion of
the sales commission in installments of 1/18th of the commission per month
(and no further commission will be payable if the shares are redeemed
within 18 months of purchase)
G if, at the time of purchase of shares (if purchased during the
period May 1, 1997 through December 31, 1997) the dealer agreed in writing
to accept the dealer's portion of the sales commission in installments of
1/12th of the commission per month (and no further commission will be
payable if the shares are redeemed within 12 months of purchase)
9. The following paragraph replaces the existing sub-section captioned
"OppenheimerFunds Internet Web Site" on page 43:
OppenheimerFunds Internet Web Site. Information about the Fund, including
your account balance, daily share prices, market and Fund portfolio
information, may be obtained by visiting the OppenheimerFunds Internet Web
Site, at the following Internet address: http://www.oppenheimerfunds.com.
Additionally, certain account transactions may be requested by any
shareholder listed in the registration on an account as well as by the
dealer representative of record through a special section of that Web
Site. To access that section of the Web Site you must first obtain a
personal identification number ("PIN") by calling OppenheimerFunds
PhoneLink at 1-800-533-3310. If you do not wish to have Internet account
transactions capability for your account, please call our customer service
representatives at 1-800-525-7048. To find out more information about
Internet transactions and procedures, please visit the Web Site.
September 25, 1998 PS0215.014
