(logo)OPPENHEIMERFUNDS
Patricia C. Foster OppenheimerFunds, Inc.
Vice President Rochester Division
and Assistant Counsel 350 Linden Oaks
Rochester, NY 14625-2807
716-383-1300
March 24, 1997
Securities and Exchange Commission
Mail Stop 0-7, Filer Support
6432 General Green Way
Alexandria, VA 22312
Re: Rochester Fund Municipals
Reg. No. 33-3692
File No. 811-3614
To the Securities and Exchange Commission:
An electronic ("EDGAR") filing is hereby made under Rule 497(e) of the
Securities Act of 1933, as amended, on behalf of Rochester Fund Municipals (the
"Fund"). This filing consists of a supplement dated March 24, 1997 to the Fund's
Prospectus dated March 16, 1997.
Very truly yours,
/s/ Patricia C. Foster
------------------------
Patricia C. Foster
Vice President
and Assistant Counsel
(800) 552-1149
cc: Kirkpatrick & Lockhart LLP
Price Waterhouse LLP
Gloria LaFond
Grace Loffredo
<PAGE>
ROCHESTER FUND MUNICIPALS
Supplement dated March 24, 1997
to the Prospectus dated March 16, 1997
The Prospectus is revised to restate the hypothetical examples shown to reflect
the effect of total fund operating expenses on an investment over time. The
sub-section captioned "Examples" on pages 4 and 5 is deleted in its entirety and
replaced with the following:
o Examples. To try to show the effect of these expenses on an
investment over time, we have created the hypothetical examples shown below.
Assume that you make a $1,000 investment in shares of the Fund, and that the
Fund's annual return is 5%, and that its operating expenses are the ones shown
in the Annual Fund Operating Expenses table above. If you were to redeem your
shares at the end of each period shown below, your investment would incur the
following expenses by the end of 1, 3, 5 and 10 years:
1 year 3 years 5 years 10 years*
-------- --------- --------- -----------
Class A Shares $55 $72 $91 $144
Class B Shares $67 $83 $111 $154
Class C Shares $27 $53 $91 $198
If you did not redeem your investment, it would incur the following expenses:
1 year 3 years 5 years 10 years*
-------- --------- --------- -----------
Class A Shares $55 $72 $91 $144
Class B Shares $17 $53 $91 $154
Class C Shares $17 $53 $91 $198
*In the first example, expenses include the Class A initial sales charge of
4.75% and the applicable Class B or Class C contingent deferred sales charge.
In the second example, Class A expenses include the initial sales charge,
but Class B and Class C expenses do not include contingent deferred sales
charges. Because of the effect of the asset-based sales charge and contingent
deferred sales charge imposed on Class B and Class C shares, long-term holders
of Class B and Class C shares could pay the economic equivalent of more than
the maximum
(continued)
<PAGE>
front-end sales charge allowed under applicable regulations. For Class B
shareholders, the automatic conversion of Class B shares to Class A shares is
designed to minimize the likelihood that this will occur. See "How to Buy
Shares - Buying Class B Shares" for more information.
These examples show the effect of expenses on an investment, but are not meant
to state or predict actual or expected costs or investment returns of the Fund,
which may be more or less than the amounts shown.
March 24,1997 PSO365.002
