(logo)OPPENHEIMERFUNDS
OppenheimerFunds, Inc.
Rochester Division
350 Linden Oaks
Rochester, NY 14625-2807
716 383-1300
March 19, 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
Edgar Filing - Annual Report - Form N-30D/A
To the Securities and Exchange Commission:
An electronic ("EDGAR") filing of this Fund's Annual Report for the
period ended December 31, 1996 was filed with your offices pursuant to
Regulation 270.30b2-1 of the Investment Company Act of 1940, as amended, on
February 27, 1997 (Accession number 0000950110-97-000325). Attached for filing
in your offices is an amendment to such Annual Report. If there are any
questions, please contact the undersigned.
Sincerely,
/s/ Jill M. Zachman
--------------------------
Jill M. Zachman
Assistant Vice President
(800) 552-1149
<PAGE>
SUPPLEMENT DATED MARCH 16, 1997 TO
ROCHESTER FUND MUNICIPALS ANNUAL REPORT DATED DECEMBER 31, 1996
The Annual Report is revised as follows:
On March 16, 1997, Rochester Fund Municipals redesignated as "Class A Shares"
all of its shares which had been outstanding prior to that date. In addition, on
March 16, 1997, a new sales charge structure was implemented for those Class A
Shares. The total return information set forth in the 1996 Annual Report is
hereby revised to reflect the current maximum initial sales charge on Class A
Shares of 4.75%. During the 10 year period ended December 31, 1996, the maximum
initial sales charge on Class A Shares was 4.0%.
Total Returns for Class A Shares as of 12/31/96
Average Annual Cumulative
NAV MOP NAV MOP
1-year 5.37% 0.36%
5-year 7.86% 6.81% 45.96% 39.01%
10-year 8.52% 7.99% 126.44% 115.69%
Total returns show results of hypothetical investments on 12/31/95, 12/31/91 and
12/31/86 and include change in share price, assume reinvestment of dividends and
capital gains at net asset value. Past performance is not predictive of future
investment results. Investment return and principal value will fluctuate with
market conditions and an investor's shares may be worth more or less than their
original value upon redemption.
FB0365.002.0397 March 16, 1997
