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DOMESTIC EQUITY

Rising Dividends Fund 1 2 

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Focus: The Strategy typically invests in large-cap U.S. dividend growth stocks.
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Management

Neil McCarthy
Director of Growth Equities, Senior Vice President and Senior Portfolio Manager
Managed fund since 8/07
Joseph Higgins
Vice President and Co-Portfolio Manager
Managed fund since 8/07
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Strategy

Investment approach:  The portfolio managers rely on the OppenheimerFunds Growth team's philosophy, which focuses on high quality, attractively valued companies with sustainable earnings and solid management.  They seek to create a portfolio with a potentially growing income stream by investing in a blend of both growth and value stocks that appear likely to increase their dividend payments in the future.

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Commentary

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The Fund's investment objective changed from "seeks capital appreciation" to "seeks total return" on 8/1/07. Performance prior to 8/1/07 is not indicative of performance for any subsequent periods.
Special Risks:  Investments in securities of growth companies may be volatile. There is no guarantee that the issuers of stocks held by mutual funds will declare dividends in the future, or that dividends will remain at their current levels or increase over time. Derivative instruments whose values depend on the performance of an underlying security, asset, interest rate, index or currency, entail potentially higher volatility and risk of loss compared to traditional stock or bond investments. Diversification does not guarantee profit or protect against loss.

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.
Two World Financial Center, 225 Liberty Street, New York, NY 10281-1008