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                            SUPPLEMENT DATED
                           SEPTEMBER 15, 1998
                            TO THE PROSPECTUS
                            DATED MAY 1, 1998
                                   OF
                          OCC ACCUMULATION TRUST



On September 9, 1998, James Sheldon, Senior Vice President of Oppenheimer 
Capital since February 1998, became Portfolio Manager of the foreign portion 
of the Global Equity Portfolio, replacing Pierre Daviron who is leaving 
Oppenheimer Capital. Prior to joining Oppenheimer Capital, Mr. Sheldon was 
General Partner at Omega Advisors, a hedge fund, from September 1996 to 
February 1998 and Senior Vice President and International Portfolio Manager 
of Lazard Freres Asset Management from December 1992 to August 1996.



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