Centennial America Fund, L.P.
Centennial California Tax Exempt Trust
Centennial Government Trust
Centennial Money Market Trust
Centennial New York Tax Exempt Trust
Centennial Tax Exempt Trust
Oppenheimer California Municipal Fund
Oppenheimer Bond Fund
on behalf of its series
Oppenheimer Convertible Securities Fund
Oppenheimer Capital Appreciation Fund
Oppenheimer Capital Income Fund
Oppenheimer Capital Preservation Fund
Oppenheimer Cash Reserves
Oppenheimer Champion Income Fund
Oppenheimer Concentrated Growth Fund
Oppenheimer Developing Markets Fund
Oppenheimer Discovery Fund
Oppenheimer Emerging Growth Fund
Oppenheimer Emerging Technologies Fund
Oppenheimer Enterprise Fund
Oppenheimer Europe Fund
Oppenheimer Global Fund
Oppenheimer Global Growth & Income Fund
(over)
Oppenheimer Gold & Special Minerals Fund
Oppenheimer Growth Fund
Oppenheimer High Yield Fund
Oppenheimer Integrity Funds
on behalf of its series
Oppenheimer Bond Fund
Oppenheimer International Bond Fund
Oppenheimer International Growth Fund
Oppenheimer International Small Company Fund
Oppenheimer Large Cap Growth Fund
Oppenheimer Limited-Term Government Fund
Oppenheimer Main Street(R)Funds, Inc.
On behalf of its series
Oppenheimer Main Street(R)Growth & Income Fund
Oppenheimer Main Street(R)Opportunity Fund
Oppenheimer Main Street(R)Small Cap Fund
Oppenheimer MidCap Fund
Oppenheimer Money Market Fund, Inc.
Oppenheimer Multi-Cap Value Fund
Oppenheimer Multiple Strategies Fund
Oppenheimer Multi-State Municipal Trust
On behalf of its 3 series
Oppenheimer Florida Municipal Fund
Oppenheimer New Jersey Municipal Fund
Oppenheimer Pennsylvania Municipal Fund
Oppenheimer Municipal Bond Fund
Oppenheimer Municipal Fund
On behalf of its series
Oppenheimer Intermediate Municipal Fund
Oppenheimer New York Municipal Fund
Oppenheimer Quest Capital Value Fund, Inc.
Oppenheimer Quest For Value Funds
on behalf of its 3 series
Oppenheimer Quest Opportunity Fund
Oppenheimer Small Cap Value Fund
Oppenheimer Quest Balanced Value Fund
Oppenheimer Quest Global Value Fund, Inc.
Oppenheimer Quest Value Fund, Inc.
Oppenheimer Real Asset Fund
Oppenheimer Select Managers
on behalf of its 6 series
Gartmore Millennium Growth Fund II
Jennison Growth Fund
Mercury Advisors Focus Growth Fund
Mercury Advisors S&P 500 Index Fund
QM Active Balanced Fund
Salomon Brothers Capital Fund
Oppenheimer Senior Floating Rate Fund
Oppenheimer Series Fund, Inc.
on behalf of its 2 series
Oppenheimer Disciplined Allocation Fund
Oppenheimer Value Fund
Oppenheimer Special Value Fund
Oppenheimer Strategic Income Fund
Oppenheimer Total Return Fund, Inc.
Oppenheimer Trinity Core Fund
Oppenheimer Trinity Growth Fund
Oppenheimer Trinity Value Fund
(over)
Oppenheimer U.S. Government Trust
Oppenheimer Variable Account Funds
on behalf of its 10 series
Oppenheimer Aggressive Growth Fund/ VA
Oppenheimer Bond Fund/ VA
Oppenheimer Capital Appreciation Fund/ VA
Oppenheimer Global Securities Fund/ VA
Oppenheimer High Income Fund/ VA
Oppenheimer Main Street(R)Growth & Income Fund/ VA
Oppenheimer Money Fund/ VA
Oppenheimer Multiple Strategies Fund/ VA
Oppenheimer Small Cap Growth Fund/ VA
Oppenheimer Strategic Bond Fund/ VA
Panorama Series Fund, Inc.
on behalf of its 4 series
Government Securities Portfolio
Growth Portfolio
Oppenheimer International Growth Fund /VA
Total Return Portfolio
Rochester Fund Municipals
Rochester Portfolio Series
On behalf of its series
Limited Term New York Municipal Fund
Supplement dated September 24, 2001
This supplement amends the prospectus and statement of additional information
of each of the above-referenced Funds, replaces each Fund's September 17,
2001 supplement and is in addition to any existing supplements of the Funds.
In light of recent events affecting the financial markets, the Fund's
Board has approved the following changes to the Fund's policies on borrowings:
For five business days commencing on September 24, 2001 and for any
additional business days thereafter as provided for by the U.S. Securities
and Exchange Commission, the Fund may borrow money for liquidity purposes
from affiliated persons and from entities other than banks, and may borrow
in excess of 5% of its total assets, provided however that the Fund's
total borrowings from all sources shall not exceed 25% of the Funds total
assets.
September 24, 2001
Philip T. Masterson
Vice President &
Assistant Counsel
September 28, 2001
Securities and Exchange Commission
OFICS Filer Support
Mail Stop 0-7, SEC Operations Center
6432 General Green Way
Alexandria, VA 22312
Re: Oppenheimer Variable Account Funds
Registration No. 2-93177
File No. 811-4108
To the Securities and Exchange Commission:
An electronic ("EDGAR") filing is hereby being made under Rule 497(e)
of the Securities Act of 1933 on behalf of Oppenheimer Variable Account
Funds. This filing consists of a supplement dated September 24, 2001 to the
prospectus and statement of additional information related to temporary
investment policy changes made in accordance with SEC Release No. 25156 and
SEC Release No. 25165. This supplement is in addition to any existing
supplement.
Any questions regarding this submission are to be directed to the
attention of the undersigned.
Very truly yours,
/s/ Philip T. Masterson
Philip T. Masterson
(303) 768-2486
Enclosures
cc: Mayer, Brown & Platt
KPMG LLP
Ms. Gloria LaFond