OPPENHEIMER INTERNATIONAL BOND FUND
Supplement dated January 1, 1996 to the
Prospectus dated December 5, 1995

The Prospectus is changed as follows:

     In addition to paying dealers the regular commission for (1) sales
of Class A shares stated in the sales charge table in "Buying Class A
Shares" on page 25, (2) sales of Class B shares described in the third
paragraph in "Distribution and Service Plan for Class B Shares" on page
31, or (3) sales of Class C shares described in the third paragraph in
"Distribution and Service Plan for Class C Shares" on page 33, the
Distributor will pay additional commission to each participating
broker, dealer and financial institution that has a sales agreement
with the Distributor (these are referred to as "participating firms")
for Class A, B and C shares of the Fund sold in "qualifying
transactions" (the "promotion").  The additional commission will be
 .75% of the offering price of shares of the Fund sold by a registered
representative or sales representative of a participating firm during
the promotion.  If the additional commission is paid on the sale of
Class A shares of $1 million or more and those shares are redeemed
within 13 months from the end of the month in which they were
purchased, the participating firm will be required to return the
additional commission. 

     "Qualifying transactions" are sales of Class A, Class B and/or
Class C shares of any one or more of the Oppenheimer funds (except
money market funds and tax-exempt funds) for (1) new Individual
Retirement Accounts ("IRAs"), using the OppenheimerFunds prototype IRA
agreement, including rollover IRAs, SEP IRAs and SAR-SEP IRAs, where
the IRA is established and the purchase payment is received during the
period from January 1, 1996 through April 15, 1996 (the "promotion
period") or, (2) IRAs using the A.G. Edwards & Sons, Inc. prototype IRA
agreement, including rollover IRAs, SEP IRAs and SAR-SEP IRAs, where
the purchase payment is received during the promotion period.  
"Qualifying transactions" also include purchases of shares of
Oppenheimer funds for  existing OppenheimerFunds or A.G. Edwards &
Sons, Inc. prototype IRAs, rollover IRAs, SEP IRAs and SAR-SEP IRAs
effected through a rollover from an investor, or through a direct
rollover or trustee-to-trustee transfer from another retirement plan
trustee, of IRA assets or other employee benefit plan assets from an
account or investment other than an account or investment in the
Oppenheimer funds.  To qualify, the payment for the shares purchased
for a rollover to an OppenheimerFunds prototype IRA or for a rollover,
direct rollover or trustee-to-trustee transfer to an A.G. Edwards &
Sons, Inc. prototype IRA must be received during the promotion period,
or the acceptance of a direct rollover or trustee-to-trustee transfer
to an OppenheimerFunds prototype IRA must be acknowledged by the
trustee of the OppenheimerFunds  prototype IRA during the promotion
period.  "Qualifying transactions" do not include (1) purchases of
Class A shares intended but not yet made under a Letter of Intent, and
(2)  purchases of Class A, Class B and/or Class C shares with the
redemption proceeds from an existing OppenheimerFunds account.

January 1, 1996                                       PS0880.004