OPPENHEIMER BOND FUND
                   Supplement dated February 1, 2001 to the
                       Prospectus dated April 28, 2000

The Prospectus is changed by adding the following section in "About Your
Account - How to Buy Shares" before the sub-section entitled "How Can You Buy
Class A Shares?":

      In addition to paying dealers the regular sales concessions for
      sales of Class A, Class B and Class C shares described in the
      Prospectus, the Distributor will pay a special concession to A.G.
      Edwards & Sons, Inc.  ("AGE") on purchase orders for shares of
      the Fund submitted from February 1, 2001, through April 16, 2001
      (the concession period), for Individual Retirement Accounts for
      which AGE is the dealer of record, including
      OppenheimerFunds-sponsored IRAs and AGE prototype IRAs. The
      concession applies to qualifying purchases of shares made during
      the concession period to establish new IRAs as well as to make
      additional contributions to existing IRAs.  The special
      concession does not apply to purchases intended but not yet made
      under a Letter of Intent or to purchases made with the proceeds
      of a redemption or exchange from an account(s) in one or more of
      the Oppenheimer funds. During the concession period the
      Distributor will reallow to AGE the full commission on qualifying
      purchases of Class A shares and will advance to AGE from the
      Distributor's own resources an additional 0.50% on qualifying
      sales of Class B shares and 0.25% on qualifying sales of Class C
      shares.


February 1, 2001                                              PS0285.013