Municipal Advantage Fund Inc.
Oppenheimer Tower, One World Financial Center,
200 Liberty Street, New York, New York 10281
January 30, 1996
To the Stockholders:
The proxy card that was sent to stockholders of the Fund in
connection with the Annual Meeting contains a printing error. Proposal 1 which
will be presented to shareholders at the Annual Meeting relates to the election
of directors to serve until the 1999 Annual Meeting of Stockholders.
Accordingly, the Fund will consider all proxies returned to be a vote for (or
against) the election of directors to serve until the 1999 Annual Meeting of
Stockholders. We apologize for any confusion this may have caused.
Whether or not you expect to attend the Annual Meeting, it is
important that your shares be represented. Therefore, we urge you to return
your proxy promptly.
Municipal Advantage Fund Inc.
