-----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, Oe/QX4CSG7JP9TIjaYcPLspb9B8xT5ImMVZ7t3ahdu4pwzlEo9F+J6lQ7/xnEAnd YLVm9ve3IboRaMxNek1CjQ== 0000728889-08-001501.txt : 20081113 0000728889-08-001501.hdr.sgml : 20081113 20081113090255 ACCESSION NUMBER: 0000728889-08-001501 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20081113 DATE AS OF CHANGE: 20081113 EFFECTIVENESS DATE: 20081113 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: 081182885 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 MidCap Fund/VA C000028590 Non-Service C000028591 Service 497 1 ps005.htm PROSPECTUS SUPPLEMENT PSP Supplement 


                          Oppenheimer MidCap Fund/VA
                  Supplement dated November 13, 2008 to the
                       Prospectus dated April 29, 2008


This  supplement  amends the prospectus of Oppenheimer  MidCap Fund/VA (the
"Fund") dated April 29, 2008 and is in addition to the  supplement  dated August
29, 2008.

Effective  November  17,  2008,  the section "How the Fund Is Managed - The
Manager - Portfolio  Manager" beginning on page 8 is deleted in its entirety and
is replaced by the following:

     Portfolio  Manager.  The Fund's  portfolio is managed by Ronald J. Zibelli,
Jr., who is primarily  responsible  for the day-to-day  management of the Fund's
investments.

     Mr.  Zibelli,  CFA, has been a Vice President of the Manager since May 2006
and  portfolio  manager of the Fund since  November  2008.  Prior to joining the
Manager,  he was a Managing Director and Small Cap Growth Team Leader at Merrill
Lynch  Investment  Managers  from  February  2000 to May 2006.  Prior to joining
Merrill Lynch Investment  Managers,  Mr. Zibelli was a Senior Portfolio  Manager
(U.S.  Small Cap Equity) at Chase Asset  Management at Chase Manhattan Bank. Mr.
Zibelli  is  a  portfolio  manager  and  officer  of  other  portfolios  in  the
OppenheimerFunds complex.







November 13, 2008                                                   PS0620.005
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