-----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, QabPAU5u4lVli9LWk+Ag9OfkWGj0GwsbOQyJCP3c6ts7UJpYTmlumNYJVG3s2HvR p6XD+qXAENvUKTGHdh4zkA== 0000752737-98-000013.txt : 19980810 0000752737-98-000013.hdr.sgml : 19980810 ACCESSION NUMBER: 0000752737-98-000013 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980807 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: OPPENHEIMER VARIABLE ACCOUNT FUNDS CENTRAL INDEX KEY: 0000752737 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 840974272 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-93177 FILM NUMBER: 98679640 BUSINESS ADDRESS: STREET 1: 3410 S GALENA ST CITY: DENVER STATE: CO ZIP: 80231 BUSINESS PHONE: 3036713200 MAIL ADDRESS: STREET 2: 3410 S GALENA ST CITY: DENVER STATE: CO ZIP: 80231 FORMER COMPANY: FORMER CONFORMED NAME: OPPENHEIMER VARIABLE LIFE FUNDS DATE OF NAME CHANGE: 19860609 497 1 OPPENHEIMER VARIABLE ACCOUNT FUNDS OPPENHEIMER VARIABLE ACCOUNT FUNDS Supplement dated August 10, 1998 to the Prospectus dated May 1, 1998 The Prospectus is changed as follows: 1. This Supplement replaces all previous supplements to the May 1, 1998 Prospectus of Oppenheimer Variable Account Funds. 2. The third sentence under the caption "Overview of the Funds - Who Manages the Funds?" is revised: The portfolio managers are as follows: Money Fund, Arthur J. Zimmer and Carol E. Wolf; High Income Fund, Thomas P. Reedy; Bond Fund, Multiple Strategies Fund and Strategic Bond Fund, David Negri (joined by George Evans, Michael S. Levine and Richard Rubinstein for Multiple Strategies Fund, by John Kowalik for Bond Fund and by Arthur P. Steinmetz for Strategic Bond Fund); Growth Fund, Jane Putnam; Aggressive Growth Fund, Bruce L. Bartlett; Small Cap Growth Fund, Jay W. Tracey, III and Alan Gilston; Global Securities Fund, William L. Wilby; Growth & Income Fund, Michael S. Levine. 3. The first sentence under the caption " When-Issued or Delayed Delivery Transactions" is replaced with the following: Each Fund may purchase securities on a "when-issued" basis and may purchase or sell securities on a "delayed delivery" basis. 4. The first paragraph in the section captioned "How the Funds are Managed - Portfolio Managers" is replaced by the following: The portfolio managers of Money Fund are Arthur J. Zimmer and Carol E. Wolf. In June and July, 1998, respectively, they became the persons principally responsible for the day-to- day management of that Fund's portfolio. During the past five years, each has also served as an officer of other Oppenheimer funds, and Mr. Zimmer was Money Fund's portfolio manager from October, 1990 to April, 1996. 5. The third paragraph in the section captioned "How the Funds Are Managed -- Portfolio Managers" is replaced by the following: (continued) The portfolio manager of Bond Fund, Multiple Strategies Fund and Strategic Bond Fund is David P. Negri, joined by John Kowalik for Bond Fund, by George Evans, Michael S. Levine and Richard Rubinstein for Multiple Strategies Fund and by Arthur P. Steinmetz for Strategic Bond Fund. They are the persons responsible for the day-to-day management of those funds since January 1990 (July 1998 for Mr. Kowalik), July 1989 (August 1998 for Messrs. Evans and Levine, and April 1991 for Mr. Rubinstein) and May 1993, respectively. During the past five years, Messrs. Evans, Steinmetz and Negri have also served as officers of other Oppenheimer funds. Prior to July, 1998, Mr. Kowalik served as Managing Director and Senior Portfolio Manager at Prudential Investments Fixed Income Group. Since July 1995, Mr. Levine served as an officer of other Oppenheimer funds, prior to which he was a portfolio manager and research assistant for Amas Securities, Inc., before which he was an analyst for Shearson Lehman Hutton, Inc. 6. The first sentence of the last paragraph in the section captioned "How the Funds are Managed - Portfolio Managers" is replaced with the following: Messrs. Bartlett, Evans, Levine, Reedy, Tracey, Gilston and Mses. Putnam and Wolf are Vice Presidents of the Manager, and Messrs. Kowalik, Negri, Rubinstein, Steinmetz, Wilby and Zimmer are Senior Vice Presidents of the Manager. August 10, 1998 PSO600.013.0598 OPPENHEIMER VARIABLE ACCOUNT FUNDS Supplement dated August 10, 1998 to the Statement of Additional Information dated May 1, 1998 The Statement of Additional Information is changed as follows: 1. The biographical information under the caption "How the Funds are Managed - Trustees and Officers of the Trust" on page 26 is revised to disclose that Michael S. Levine is Vice President of the Manager (since June, 1998) and David P. Negri is Senior Vice President of the Manager (since May, 1998). 2. The following biographical information is added to the section captioned "How the Fund is Managed - Trustees and Officers of the Trust" on page 27 immediately following the information on William L. Wilby: George Evans, Vice President; Multiple Strategies Fund Portfolio Manager; Age 38 Two World Trade Center, New York, NY 10048-0203 Vice President of the Manager (since September 1990) and HarbourView (since July 1994); an officer of other Oppenheimer funds. John S. Kowalik, Vice President; Bond Fund Portfolio Manager; Age: 41 Two World Trade Center, New York, NY 10048-0203 Senior Vice President of the Manager (since July 1998); an officer of other Oppenheimer funds; formerly Managing Director and Senior Portfolio Manager at Prudential Global Advisors (1989- 1998). Carol E. Wolf, Vice President; Money Fund Portfolio Manager; Age 46 6803 South Tucson Way, Englewood, Colorado 80112 Vice President of the Manager and Centennial; an officer of other Oppenheimer funds. Arthur J. Zimmer, Vice President; Money Fund Portfolio Manager; Age: 52 6803 South Tucson Way, Englewood, Colorado 80112 Senior Vice President of the Manager (since June 1997); Vice President of Centennial (since June 1997); an officer of other Oppenheimer funds; formerly Vice President of the Manager (October 1990-June 1997). 3. The references to five of the Funds and their respective Portfolio Managers at the beginning of the first sentence in the paragraph captioned "The Manager and Its Affiliates - Portfolio Management" on page 30 is revised as follows: The Portfolio Managers of the Funds are as follows: Money Fund, Arthur J. Zimmer and Carol E. Wolf; High Income Fund, Thomas P. Reedy; Bond Fund, Multiple Strategies Fund and Strategic Bond Fund, David Negri (joined by John S. Kowalik for Bond Fund, by George Evans, Michael S. Levine and Richard Rubinstein for Multiple Strategies Fund, and by Arthur P. Steinmetz for Strategic Bond Fund )... 4. All references in the Statement of Additional Information to Dorothy Warmack are deleted as of June 15, 1998. 5. The list of Corporate Industry Classifications (Appendix A) on page A-1 is modified by including the following new classifications: Asset Backed. August 10, 1998 PXO600.009 -----END PRIVACY-ENHANCED MESSAGE-----