-----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, Ieh4Q+Z0W5WIL62Kb5eJj10SwA85U8ocnmnv8tY1LuN3BTaSdH223TKW4+plyruv InlSy5VK4TKW/3gJzvmZSg== 0000728889-11-000374.txt : 20110228 0000728889-11-000374.hdr.sgml : 20110228 20110228145930 ACCESSION NUMBER: 0000728889-11-000374 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110228 DATE AS OF CHANGE: 20110228 EFFECTIVENESS DATE: 20110228 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: 11645344 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 S000010332 Oppenheimer Value Fund/VA

C000028588 Non-Service

C000028589 Service

497 1 supplement.htm

OPPENHEIMER VALUE FUND/VA

A Series of Oppenheimer Variable Account Funds

Supplement dated February 28, 2011 to the

Prospectus and Statement of Additional Information

This supplement amends the Prospectus and Statement of Additional Information of Oppenheimer Value Fund/VA (the "Fund"), each dated April 30, 2010, and is in addition to any other supplement(s).

Effective February 28, 2011, John Damian will no longer serve as Vice President and portfolio manager of the Fund. Mr. Damian will continue to serve as an officer and portfolio manager of other portfolios in the OppenheimerFunds complex.

February 28, 2011 PX0642.002

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