497

-----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, CK07bmMcIhsXynI+FGaCnJjr8kir0pzsQ2Ofe9GE7g26MhEw5sM/dGUUdx0nDxip EAO9IZgb7Vv8+B54Swc45A== 0000752737-07-000002.txt : 20070605 0000752737-07-000002.hdr.sgml : 20070605 20070605160746 ACCESSION NUMBER: 0000752737-07-000002 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070605 DATE AS OF CHANGE: 20070605 EFFECTIVENESS DATE: 20070605 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: 07901104 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 497

                                       OPPENHEIMER MIDCAP Fund/VA
                                  Supplement dated June 5, 2007 to the
                                    Prospectus dated April 30, 2007

     This  supplement  amends the  Prospectus  dated April 30, 2007. The section
"How the Fund Is Managed - The Manager - Portfolio Manager" on page 8 is deleted
in its entirety and replaced by the following:

     Portfolio Manager. The Fund's portfolio is managed by Richard Royce, who is
primarily  responsible for the day-to-day  management of the Fund's investments.
Mr.  Royce has been  portfolio  manager of the Fund  since  June 2007.  Prior to
joining  the  Manager  in 2007,  Mr.  Royce was a Vice  President,  co-portfolio
manager and  technology  and media  analyst at JP Morgan Asset  Management  from
November  1998 to April 2007.  Prior to that time,  Mr. Royce was an  investment
analyst at Mark Asset  Management.  Mr.  Royce is a  portfolio  manager of other
portfolios in the OppenheimerFunds complex.

     The Statement of Additional  Information  provides  additional  information
about the portfolio  manager's  compensation,  other accounts he manages and his
ownership of Fund shares.




June 5, 2007                                                          PS0620.003

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