(logo)OPPENHEIMERFUNDS
OppenheimerFunds, Inc.
350 Linden Oaks
Rochester, NY 14625-2807
716-383-1300
February 7, 1997
Securities and Exchange Commission
Mail Stop 0-7, Filer Support
6432 General Green Way
Alexandria, VA 22312
RE: Rochester Portfolio Series ("Registrant")
Reg No. 33-41511; File No. 811-6332
To the Securities and Exchange Commission:
An electronic filing is hereby made on behalf of the Registrant
pursuant to Rule 497(e) of the Securities Act of 1933, as amended. Such filing
includes a supplement dated February 1997 to the Registrant's Prospectus dated
March 11, 1996.
If there are any questions, please contact the undersigned.
Sincerely,
/s/ Patricia C. Foster
------------------------
Patricia C. Foster
Vice President
and Assistant Counsel
(716) 383-1300
cc: Price Waterhouse LLP
Kirkpatrick & Lockhart LLP
Gloria LaFond
Grace Loffredo
<PAGE>
ROCHESTER PORTFOLIO SERIES-LIMITED TERM NEW YORK MUNICIPAL FUND
Supplement Dated February 7, 1997 to the
Prospectus Dated March 11, 1996
The Prospectus is changed as follows:
The second sentence in the section captioned "Distribution and Service Plan for
Class B Shares " on page 17 is deleted and replaced with the following sentence:
Under the Plan, the Fund pays the Distributor an annual "asset-based sales
charge" of 0.50% per year on Class B shares that are outstanding for 6 years or
less.
February 7, 1997 PS0355.001
