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OPPENHEIMERFUNDS
OppenheimerFunds, Inc.
Rochester Division
350 Linden Oaks
Rochester, NY 14625-2807
Tel 716 383-1300
May 7, 1997
Securities and Exchange Commission
Mail Stop 0-7, Filer Support
6432 General Green Way
Alexandria, VA 22312
RE: Rochester Portfolio Series -
Limited Term New York Municipal Funds
Reg No. 33-41511
File No. 811-6332
Edgar Filing - Annual Report - Form N-30D/A
To the Securities and Exchange Commission:
An electronic ("EDGAR") filing of this Fund's Annual Report for the
period ended December 31, 1996 was filed with your offices pursuant to
Regulation 270.30b2-1 of the Investment Company Act of 1940, as amended, on
February 27, 1997 (Accession number 0000950110-97-000324). Attached for filing
in your office is an amendment to such Annual Report. If there are any question,
please contact the undersigned.
Sincerely,
/s/ Jill M. Zachman
-------------------------
Jill M. Zachman
Assistant Vice President
(800) 552-1149
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Limited Term New York Municipal Fund
Performance Update (3/31/97)
On May 1, 1997, Limited Term New York Municipal Fund redesignated as "Class X
Shares" all of its shares which had been prior to that date referred to as
"Class B Shares" and authorized the issuance of new "Class B Shares" and "Class
C Shares". In addition, on May 1, 1997, a new sales charge structure was
implemented for Class A Shares. The total return information set forth in the
attached document is revised as follows to reflect the current maximum initial
sales charge on Class A Shares of 3.50%. Performance information is not yet
available for the Fund's Class B or Class C shares (inception date: 5/1/97):
LBO355.002.0497 May 1, 1997
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Total Return
Average Annual Cumulative
NAV MOP NAV MOP
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Class A:
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1 Year 5.35% 1.66% 5.35% 1.66%
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5 Years 6.54% 6.11% 37.29% 32.48%
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Life of 6.95% 6.57% 45.10% 40.02%
Class
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Class X:
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1 Year 5.12% 2.62% 5.12% 2.62%
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Life of 5.68% 4.68% 11.17% 9.17%
Class
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Past performance is not predictive of future investment results. Investment
return and principal value will fluctuate and an investor's shares may be worth
more or less than their original value upon redemption.
This supplement must be enclosed with Limited Term New York Municipal Fund
marketing materials.
