POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004







/s/ William L. Armstrong
------------------------
William L. Armstrong


Witness:_______________________________
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Avis\CCTET.doc









                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/Robert G. Avis
------------------------------
Robert G. Avis


Witness: /s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Bowen\CCTET.doc










                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/George C. Bowen
------------------------------------
George C. Bowen


Witness: /s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Cameron\CCTET.doc










                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/Edward L. Cameron
------------------------------------
Edward L. Cameron


Witness: /s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Fossel\CCTET.doc










                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/Jon S. Fossel
------------------------------
Jon S. Fossel


Witness: /s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Freedman\CCTET.doc













                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/Sam Freedman
------------------------------
Sam Freedman


Witness:/s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Grabish\CCTET.doc










                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/Richard F. Grabish
------------------------------------
Richard F. Grabish


Witness:/s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Hamilton\CCTET.doc










                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/Beverly Hamilton
------------------------------------
Beverly Hamilton


Witness: /s/Kathleen Ives
         ---------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Malone\CCTET.doc










                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/Robert J. Malone
------------------------------------
Robert J. Malone


Witness: /s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Marshall\CCTET.doc









                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in  my  capacity  as a  Trustee  of  Centennial
California  Tax Exempt Trust (the  "Trust"),  to sign on my behalf any and all
Registration   Statements   (including   any   post-effective   amendments  to
Registration  Statements)  under the  Securities  Act of 1933,  the Investment
Company Act of 1940 and any  amendments  and  supplements  thereto,  and proxy
statements or other documents in connection thereunder,  and to file the same,
with all exhibits thereto, and other documents in connection  therewith,  with
the  U.S.   Securities   and   Exchange   Commission,   granting   unto   said
attorneys-in-fact  and agents,  and each of them,  full power and authority to
do and perform  each and every act and thing  requisite  and  necessary  to be
done in and about the  premises,  as fully as to all intents and purposes as I
might or could do in person,  hereby  ratifying and  confirming  all that said
attorneys-in-fact  and agents,  and each of them,  may lawfully do or cause to
be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/F. William Marshall
------------------------------------
F. William Marshall


Witness: /s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Murphy\CCTET.doc










                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me  and  in my  capacity  as a  Trustee,  President  and
Principal  Executive  Officer of Centennial  California  Tax Exempt Trust (the
"Trust"), to sign on my behalf any and all Registration  Statements (including
any   post-effective   amendments  to  Registration   Statements)   under  the
Securities Act of 1933, the Investment  Company Act of 1940 and any amendments
and  supplements   thereto,   and  proxy  statements  or  other  documents  in
connection  thereunder,  and to file the same, with all exhibits thereto,  and
other  documents  in  connection  therewith,  with  the  U.S.  Securities  and
Exchange  Commission,  granting unto said  attorneys-in-fact  and agents,  and
each of them,  full power and  authority  to do and perform each and every act
and thing  requisite and  necessary to be done in and about the  premises,  as
fully as to all  intents  and  purposes  as I might  or  could  do in  person,
hereby  ratifying and confirming all that said  attorneys-in-fact  and agents,
and each of them, may lawfully do or cause to be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/John V. Murphy
------------------------------
John V. Murphy


Witness: /s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary







I:\shardata\ossexec\SHARDATA\Denver Board\2004\POA\Wixted\CCTET.doc










                                   POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, that the undersigned,  constitutes
and  appoints  Tane T.  Tyler and  Mitchell  J.  Lindauer  each as my true and
lawful  attorney-in-fact  and  agent,  with  full  power of  substitution  and
resubstitution,  for  me and  in my  capacity  as a  Treasurer  and  Principal
Financial and  Accounting  Officer of Centennial  California  Tax Exempt Trust
(the  "Trust"),  to sign on my  behalf  any  and all  Registration  Statements
(including any  post-effective  amendments to Registration  Statements)  under
the  Securities  Act of  1933,  the  Investment  Company  Act of 1940  and any
amendments and supplements  thereto,  and proxy  statements or other documents
in connection  thereunder,  and to file the same,  with all exhibits  thereto,
and other  documents in connection  therewith,  with the U.S.  Securities  and
Exchange  Commission,  granting unto said  attorneys-in-fact  and agents,  and
each of them,  full power and  authority  to do and perform each and every act
and thing  requisite and  necessary to be done in and about the  premises,  as
fully as to all  intents  and  purposes  as I might  or  could  do in  person,
hereby  ratifying and confirming all that said  attorneys-in-fact  and agents,
and each of them, may lawfully do or cause to be done by virtue hereof.
.


Dated this 28th  day of June, 2004








/s/Brian W. Wixted
------------------------------------
Brian W. Wixted


Witness: /s/Kathleen Ives
        ----------------------------
        Kathleen Ives
        Assistant Secretary