Mark R. DeMitry, CFA, Vice President and Senior Portfolio Manager

Mark DeMitry, CFA

Vice President and Senior Portfolio Manager

Mark DeMitry, a Vice President and Senior Portfolio Manager of OppenheimerFunds, Inc., joined the Oppenheimer Rochester® municipal investment team in 2000. The Rochester investment team is responsible for the day-to-day management of 15 state-specific municipal bond funds and 5 national municipal bond funds. In its investment selection of bonds for the portfolios, the team employs a bottom-up, value-oriented and security-specific investment style that seeks to produce above-average yields and total returns.

Mr. DeMitry has been involved in the investment management business for more than 10 years. He received a M.B.A. in Finance from Rochester Institute of Technology and a B.S. in Management from Niagara University.

Before joining OppenheimerFunds, Mr. DeMitry was employed in Rochester, New York, at M&T Securities and in the financial services sector of Massachusetts Mutual. Possessing a Chartered Financial Analyst designation since 2004, he is a member of the CFA Institute and a member of the CFA Society of Rochester.

August 2011

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, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.

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