OppenheimerFunds, Inc. Reaches Proposed Settlement on Core Bond Fund and Champion Income Fund

“We are pleased that proposed settlements have been given preliminary approval by the court in two consolidated class action law suits relating to Oppenheimer Core Bond Fund and Oppenheimer Champion Income Fund1 that are pending in the federal district court in Colorado. Information about the proposed settlements will be sent to the persons identified as class members. OppenheimerFunds and the Funds entered into these proposed settlement agreements to avoid a lengthy and expensive legal process and believe that the proposed settlements are in the best interests of the Funds and their shareholders. In entering into these proposed settlements, the Funds and the company have not admitted any wrongdoing in the matters raised in the law suits. We are pleased that we are moving toward a resolution of these matters.”


1. Oppenheimer Champion Income Fund was reorganized with and into Oppenheimer Global Strategic Income Fund effective September 21, 2012.

Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.

Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc.
225 Liberty Street, New York, NY 10281-1008