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ROCHESTER FUND MUNICIPALS Supplement dated August 23, 1999 to the Prospectus dated April 30, 1999 The Prospectus is changed as follows: 1. The second sentence of the first paragraph in the section entitled "Class A Contingent Deferred Sales Charge" on page 17 is revised to read as follows: The Distributor pays dealers of record commissions in an amount equal to 0.50% of purchases of $1 million or more other than by retirement accounts. August 23, 1999 PS0365.005
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