-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OG7KU1OqT4ig7HTUOnjzUeY9eacGV6SwmGxlgr2wGfh+PoIbXsZzryaCOaI5JcU6 HN7lc/ebd3rv+C/qIdnawQ== 0000728889-08-001197.txt : 20080829 0000728889-08-001197.hdr.sgml : 20080829 20080829172043 ACCESSION NUMBER: 0000728889-08-001197 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080829 DATE AS OF CHANGE: 20080829 EFFECTIVENESS DATE: 20080829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OPPENHEIMER VARIABLE ACCOUNT FUNDS CENTRAL INDEX KEY: 0000752737 IRS NUMBER: 840974272 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-93177 FILM NUMBER: 081049927 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 BUSINESS PHONE: 3036713200 MAIL ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 FORMER COMPANY: FORMER CONFORMED NAME: OPPENHEIMER VARIABLE LIFE FUNDS DATE OF NAME CHANGE: 19860609 0000752737 S000010333 Oppenheimer Aggressive Growth Fund/VA C000028590 Non-Service C000028591 Service 497 1 sticker.htm PROSPECTUS SUPPLEMENT Oppenheimer MidCap Fund/VA 
                                 Oppenheimer MidCap Fund/VA
                          Supplement dated August 29, 2008 to the
                              Prospectus dated April 29, 2008

This supplement amends the Prospectus of Oppenheimer MidCap Fund/VA (the "Fund"), dated
April 29, 2008. The section "How the Fund Is Managed - Advisory Fees" on page 8 is amended
by adding the following paragraph to the end of that section:

   Effective September 1, 2008 through August 31, 2009 (the "waiver period"), the
   Manager has voluntarily agreed to reduce its advisory fee rate by 0.10% of the
   Fund's average daily net assets if the Fund's trailing one-year total return
   performance is in the fourth or fifth quintile of the Fund's Lipper peer group as of
   August 31, 2008. However, if the Fund's trailing one-year total return performance,
   as measured at the end of any subsequent calendar quarter during the waiver period,
   improves to the third or higher quintile of the Fund's Lipper peer group, the
   advisory fee reduction will be terminated effective the following business day. The
   advisory fee reduction is a voluntary undertaking and may be terminated by the
   Manager at any time.




August 29, 2008                           PS0620.004
-----END PRIVACY-ENHANCED MESSAGE-----