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<PAGE> PAGE 2
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SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<PAGE>
To the Board of Directors of
Oppenheimer Quest Global Value Fund, Inc.
In planning and performing our audit of the financial statements of Oppenheimer
Quest Global Value Fund, Inc. (the "Fund") for the year ended November 30, 1996,
we considered its internal control structure,including procedures for safeguard-
ing securities, in order to determine our auditing procedures for the purposes
of expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, and not to provide assurance on the internal control
structure.
The management of the Fund is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of internal control structure policies and procedures. Two of
the objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are appropriately safe-
guarded against loss from unauthorized use or disposition and that transactions
are executed in accordance with management's authorization and recorded
properly to permit preparation of financial statements in conformity with
generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and may not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the effective-
ness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily dis-
close all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and may not be detected within a timely period by employees in the
normal course of performing their assigned functions. However, we noted no
matters involving the internal control structure, including procedures for
safeguarding securities, that we consider to be material weaknesses as defined
above as of November 30, 1996.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
Price Waterhouse LLP
Denver, Colorado
December 20, 1996
<PAGE>
During the year ended November 30, 1996, the Fund adjusted the classification of
net investment income and capital gain (loss) to reflect the differences between
financial statement amounts and distributions determined in accordance with
income tax regulations. Accordingly, during the year ended November 30, 1996,
amounts have been reclassified to reflect a decrease in paid-in capital of
$43,892. Overdistributed net investment income was decreased by the same amount.
In addition, to properly reflect foreign currency gain in the components of
capital, $249,904 of foreign exchange loss determined according to U.S. federal
income tax rules has been reclassified from accumulated net realized loss to
overdistributed net investment income.
