OPPENHEIMER BOND FUND
                 Supplement dated February 12, 2001 to the
                    Prospectus dated February 12, 2001

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 12, 2001                                             PS0285.015