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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000701382-01-000005.txt : 20010123
<SEC-HEADER>0000701382-01-000005.hdr.sgml : 20010123
ACCESSION NUMBER:		0000701382-01-000005
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20010112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OPPENHEIMER VARIABLE ACCOUNT FUNDS
		CENTRAL INDEX KEY:			0000752737
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				840974272
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		
		SEC FILE NUMBER:	002-93177
		FILM NUMBER:		1508142

	BUSINESS ADDRESS:	
		STREET 1:		3410 S GALENA ST
		CITY:			DENVER
		STATE:			CO
		ZIP:			80231
		BUSINESS PHONE:		3036713200

	MAIL ADDRESS:	
		STREET 2:		3410 S GALENA ST
		CITY:			DENVER
		STATE:			CO
		ZIP:			80231

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OPPENHEIMER VARIABLE LIFE FUNDS
		DATE OF NAME CHANGE:	19860609
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>0001.txt
<DESCRIPTION>OPPENHEIMER VARIABLE ACCOUNT FUNDS
<TEXT>

                     OPPENHEIMER MULTIPLE STRATEGIES FUND/VA
                 A Series of Oppenheimer Variable Account Funds
                    Supplement dated January 16, 2001 to the
                          Prospectus dated May 1, 2000


     The  Prospectus  is changed as follows:  The section  captioned  "Portfolio
Manager" on page 8 is deleted and replaced with the following:

     |X| Portfolio  Manager.  The Fund's  management team includes two portfolio
managers:  Richard H. Rubinstein and Michael Levine. Each is a Vice President of
the Fund, and each serves as an officer and manager of other Oppenheimer  funds.
They are the persons  principally  responsible for the day-to-day  management of
the Fund's  portfolio.  Mr.  Rubinstein,  who is a Senior Vice  President of the
Manager,  has  been a  portfolio  manager  of the Fund  since  April  1991.  Mr.
Rubinstein  has been a  portfolio  manager of the Manager  since June 1990.  Mr.
Levine, who is a Vice President of the Manager,  has been a portfolio manager of
the Fund since  August 1998 and a portfolio  manager of the Manager  since April
1996; he joined the Manager as an analyst in June 1994.


January 16, 2001                                            PS0670.001
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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