Oppenheimer International Bond Fund
                                               Supplement dated February 1, 2002 to the
                                                   Prospectus dated January 28, 2002


The Prospectus is changed by adding the following section in "About Your Account - How to Buy Shares" before the sub-section entitled "How
Can You Buy Class A Shares?":

         In addition to paying the dealer the regular sales concessions for sales of Class A, Class B and Class C shares described in
         the Prospectus, the Distributor will pay a special concession to A.G. Edwards & Sons, Inc.  ("AGE") on purchase orders for
         shares of the Fund submitted from February 1, 2002, through April 15, 2002 (the concession period), for Individual
         Retirement Accounts for which AGE is the dealer of record, including OppenheimerFunds-sponsored IRAs and AGE prototype IRAs.
         The concession applies to qualifying purchases of shares during the concession period to establish new IRAs as well as to
         make additional contributions to existing IRAs.  The special concession does not apply to purchases intended but not yet
         made under a Letter of Intent or to purchases made with the proceeds of a redemption or exchange from an account(s) in one
         or more of the Oppenheimer funds. During the concession period the Distributor will reallow to AGE the full commission on
         qualifying purchases of Class A shares and will advance to AGE from the Distributor's own resources an additional 0.50% on
         qualifying sales of Class B shares and 0.25% on qualifying sales of Class C shares.


         February 1, 2002                                                            PS0880.025