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SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<PAGE>
THE BOARD OF TRUSTEES AND SHAREHOLDERS OF
OPPENHEIMER ENTERPRISE FUND:
In planning and performing our audit of the financial statements of Oppenheimer
Enterprise Fund for the period ended August 31, 1996, we considered its internal
control structure, including procedures for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on the internal control structure.
The management of Oppenheimer Enterprise Fund is responsible for establishing
and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of internal control policies and procedures.
Two of the objectives of an internal control structure are to provide management
with reasonable, but not absolute, assurance that assets are safeguarded against
loss from unauthorized use or disposition and transactions are executed in
accordance with management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be a material weakness as defined above as of
August 31, 1996.
This report is intended for the information and use of management and the
Securities and Exchange Commission and should not be used for any other purpose.
/S/KPMG PEAT MARWICK LLP
KPMG PEAT MARWICK LLP
Denver, Colorado
September 23, 1996
<PAGE>
During the period ended August 31, 1996, the Fund adjusted the classification of
distributions to shareholders to reflect the differences between financial
statement amounts and distributions determined in accordance with income tax
regulations. Accordingly, during the period ended August 31, 1996, amounts have
been reclassified to reflect a decrease in accumulated net investment loss of
$340,981, a decrease in accumulated net realized gain on investments of
$333,118, and a decrease in paid-in capital of $7,863.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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