OPPENHEIMER STRATEGIC INCOME & GROWTH FUND
Supplement dated January 3, 1995
to the Prospectus dated January 25, 1994
The Prospectus is amended as follows:
1. The supplement dated May 31, 1994 is replaced by this supplement.
2. The third paragraph of the section "Management of the Fund" beginning
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
OppenheimerFunds, effective as of April 29, 1994. That paragraph is
replaced in its entirety by the following:
Robert C. Doll, Jr. (an Executive Vice President of the
Manager), Arthur P. Steinmetz (a Senior Vice President of the
Manager) and David P. Negri (a Vice President of the Manager)
serve as Portfolio Managers of the Fund. Messrs. Negri and
Steinmetz are Vice Presidents of the Fund. Mr. Doll is Senior
Vice President of the Fund. Since the Fund's inception in 1992,
they have been responsible for the day-to-day management of the
Fund's portfolio, along with a former portfolio manager of the
Fund. 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.
3. The first sentence of the fifth paragraph in the section entitled
"How to Buy Shares - Alternative Sales Arrangements" on page 17 is amended
to change the time of day at which the net asset value of the Fund is
determined, as follows: "The net asset value per share of each class is
determined as of the close of The New York Stock Exchange, which is
normally 4:00 P.M., New York time, but may be earlier on some days (all
references to time in this Prospectus mean 'New York time') by dividing
the value of the Fund's net assets attributable to a class by the number
of shares of that class of the Fund that are outstanding."
In addition, the first sentence of the sixth paragraph of that
section is revised, and a second sentence is added, to read as follows:
"All purchase orders received by the Distributor at its office in Denver,
Colorado, prior to the time of day The New York Stock Exchange closes on
a regular business day are processed at that day's offering price. If you
buy shares through a dealer, the dealer must receive your order by the
close of The New York Stock Exchange on a regular business day and
transmit it to the Distributor so that it is received before the
Distributor's close of business that day, which is normally 5:00 P.M."
4. The second sentence in the first paragraph of the section entitled
"How to Buy Shares - Class A Shares" on page 18 is amended to read as
follows: "The offering price is determined as of the close of The New York
Stock Exchange each regular business day."
5. The ninth sentence in the first paragraph of the section entitled
"AccountLink" on page 24 is revised to read as follows: "Dividends will
begin to accrue on shares purchased by the proceeds of ACH transfers on
the business day the Fund receives Federal Funds for the purchase through
the ACH system before the close of The New York Stock Exchange. The
Exchange normally closes at 4:00 P.M., but may close earlier on certain
days. The proceeds of ACH transfers are normally received by the Fund 3
days after the transfers are initiated. The Distributor and the Fund are
not responsible for any delays in purchasing shares resulting from delays
in ACH transmissions."
6. The sixth sentence in the first paragraph of the section entitled
"Telephone Redemptions" on page 25 is revised to read as follows: "To
receive the redemption price on a regular business day, your call must be
received by the Transfer Agent by the close of The New York Stock Exchange
that day, which is normally 4:00 P.M., but may be earlier on some days."
7. The second sentence of the section entitled "Repurchase" on page 27
is revised to read as follows: "The repurchase price will be the net asset
value next computed after the Distributor receives the order placed by the
dealer or broker, except that if the Distributor receives a purchase order
from a dealer or broker after the close of The New York Stock Exchange on
a regular business day, it will be processed at that day's net asset value
if the order was received by the dealer or broker from its customer prior
to the time the Exchange closes (normally, that is 4:00 P.M. but may be
earlier on some days), and if the order was transmitted to and received
by the Distributor prior to its close of business that day (normally 5:00
P.M.)."
8. The fourth sentence in the first paragraph of the section entitled
"How to Exchange Shares" on pages 28-29 is revised to read as follows:
"Shares are normally redeemed from one fund and purchased from the other
fund in the exchange transaction on the same regular business day on which
the Transfer Agent receives an exchange request that is in proper form by
the close of The New York Stock Exchange that day, which is normally 4:00
P.M. but may be earlier on some days."
January 3, 1995 PS275.0195
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OPPENHEIMER STRATEGIC INCOME & GROWTH FUND
Supplement dated January 3, 1995 to the
Statement of Additional Information dated January 25, 1994
The Statement of Additional Information is amended as follows:
1. This supplement replaces the supplement dated May 31, 1994, to the
Statement of Additional Information.
2. 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 is Ms. Johnson's biography,
is deleted.
3. The first paragraph of the section entitled "Determination of Net
Asset Value Per Share" under "Purchase, Redemption and Pricing of Shares"
on page 27 is amended as follows:
a. The first sentence is amended to read as follows: "The net asset
values per share of Class A and Class B shares of the Fund are determined
as of the close of business of The New York Stock Exchange on each day
that the Exchange is open by dividing the Fund's net assets attributable
to a class by the number of shares of that class that are outstanding."
b. A new second sentence is added as follows: "The Exchange normally
closes at 4:00 P.M., New York time, but may close earlier on some days
(for example, in case of weather emergencies or on days falling before a
holiday)."
c. The existing third sentence is revised to read as follow: "Trading
may occur in debt securities and in foreign securities at times when the
Exchange is closed, including weekends and holidays or after the close of
The New York Stock Exchange on a regular business day."
January 3, 1995 SAI275.0195
