EX-99 3 ex99a-vafunds.txt OPPENHEIMER VARIABLE ACCOUNT FUNDS Oppenheimer Main Street Small Cap Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Increase to Increase to Accumulated Net Accumulated Net Realized Loss Investment Income on Investments ------------------------------------------ $284,513 $284,513 Oppenheimer Global Securities Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Increase Reduction to to Accumulated Accumulated Net Increase to Net Investment Realized Gain Paid-in Capital Income on Investments4 --------------------------------------------------------------- $6,509,001 $4,077,218 $10,586,219 4. $6,509,001, all of which was long-term capital gain,was distributed in connection with Fund share redemptions. Oppenheimer Capital Appreciation Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Reduction to Reduction Accumulated Net to Accumulated Net Realized Loss Investment Income on Investments -------------------------------------------------- $575,393 $575,393 Oppenheimer Midcap Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Reduction to Accumulated Net Reduction Investment to Paid-in Capital Loss ----------------------------------------------- $2,526,444 $2,526,444 Oppenheimer Core Bond Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Reduction to Reduction to Accumulated Accumulated Net Reduction Net Investment Realized Loss to Paid-in Capital Income on Investments --------------------------------------------------------------- $53,556,351 $27,135,732 $80,692,083 Oppenheimer High Income Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Reduction to Reduction to Accumulated Net Reduction to Accumulated Net Realized Loss on Paid-in Capital Investment Income Investments --------------------------------------------------------------- $107,447,213 $9,034,190 $116,481,403 Oppenheimer Value Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Reduction to Reduction to Accumulated Net Accumulated Net Realized Loss on Investment Income Investments ---------------------------------------------- $1,492 $1,492 Oppenheimer Main Street Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Increase Increase to Accumulated to Accumulated Net Realized Loss Net Investment Income on Investments ------------------------------------------------------- $60,673 $60,673 Oppenheimer Money Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. The tax character of distributions paid during the years ended December 31, 2008 and December 31, 2007 was as follows: Year Ended Year Ended December 31, 2008 December 31, 2007 ---------------------------------------- Distributions paid from: Ordinary income $5,787,153 $8,817,594 Oppenheimer Balanced Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Reduction to Reduction to Accumulated Accumulated Net Reduction Net Investment Realized Loss to Paid-in Capital Income on Investments -------------------------------------------------------------- $20,496,805 $12,376,838 $32,873,643 Oppenheimer Strategic Bond Fund V/A Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund. Accordingly, the following amounts have been reclassified for December 31, 2008. Net assets of the Fund were unaffected by the reclassifications. Reduction to Reduction to Accumulated Accumulated Net Increase Net Investment Realized Loss to Paid-in Capital Income on Investments7 --------------------------------------------------------------- $241,246 $161,292,483 $161,051,237 7. $241,246 was distributed in connection with Fund share redemptions.