<PAGE>
OPPENHEIMER STRATEGIC INCOME & GROWTH FUND
Supplement dated May 31, 1994
to the Prospectus dated January 25, 1994
The third paragraph under the heading "Management of the Fund" on page 15
is amended to delete the references to Margaret M. Johnson, who resigned
her positions with the Fund, the Manager and certain other Oppenheimer
Funds, effective as of April 29, 1994. That paragraph is amended and
restated in its entirety, as follows:
Robert C. Doll, Jr. is an Executive Vice President of the
Manager, Arthur P. Steinmetz is a Senior Vice President of the
Manager and David P. Negri is a Vice President of the Manager
and each serves as a Portfolio Manager and as Vice President of
the Fund, except for Mr. Doll who is Senior Vice President and
Portfolio Manager of the Fund. Since the Fund's inception in
1992, they have been the persons principally responsible for the
day-to-day management of the Fund's portfolio. During the past
five years, Messrs. Doll, Steinmetz and Negri have also served
as officers and portfolio managers for other OppenheimerFunds.
For more information about the Fund's other officers and
Trustees, see "Trustees and Officers" in the Additional
Statement.
May 31, 1994 PS2751
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OPPENHEIMER STRATEGIC INCOME & GROWTH FUND
Supplement dated May 31, 1994 to the
Statement of Additional Information dated January 25, 1994
1. The penultimate sentence of the first paragraph under the caption
"Trustees and Officers" on page 21 is amended to delete the references to
Margaret M. Johnson, who resigned her positions with the Fund, the Manager
and certain other Oppenheimer Funds, effective as of April 29, 1994. That
sentence is amended and restated in its entirety, as follows:
"All of the officers except Messrs. Doll, Steinmetz, and
Negri are officers of the Denver OppenheimerFunds."
2. The seventh paragraph on page 23 which describes Ms. Johnson's
biography is deleted.
May 31, 1994 SAI275
