(logo)OPPENHEIMERFUNDS
Patricia C. Foster OppenheimerFunds, Inc.
Vice President Two World Trade Center, 34th Floor
and Assistant Counsel New York, NY 10048-0203
212 323-2000 Fax 212 323-0558
January 28, 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
January 28, 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
(800) 552-1149
cc: Price Waterhouse LLP
Kirkpatrick & Lockhart LLP
Gloria LaFond
Grace Loffredo
<PAGE>
ROCHESTER PORTFOLIO SERIES-LIMITED TERM NEW YORK MUNICIPAL
FUND
Supplement Dated January 28, 1997 to the
Statement of Additional Information Dated March 11, 1996
The Statement of Additional Information is changed as follows:
1. The third sentence in the section captioned "When-Issued Securities"
on page 6 is deleted and replaced with the following sentences:
Normally, the settlement date occurs within six months of the purchase of
municipal bonds and notes. However, the Fund may, from time to time, purchase
municipal securities whose settlement extends two years or more beyond trade
date. During the period between purchase and settlement, no payment is made by
the Fund to the issuer and no interest accrues to the Fund.
January 28, 1997 PX0355.001