Real Estate Fund 1 2 

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Focus: The Strategy typically invests in real estate securities, primarily real estate investment trusts (REITs)
—— Yields (%) 3  as of 3/19/14
Distribution Yield (%) Adjusted Distribution Yield (%)
A 0.85 0.54
Ba 0.21 0.13
C 0.24 0.15
I4  1.23 0.78
N 0.67 0.43
Y 1.00 0.64

—— Income Dividends ($ per share) 5 b
Dividend/Share ($) 12-Month Distribution ($)
A 0.0529 0.3513
Ba 0.0130 0.1915
C 0.0144 0.1998
I4  0.0764 0.4703
N 0.0411 0.2926
Y 0.0624 0.4030

Frequency: Quarterly Pay Date: 3/20/14

—— Capital Gains Distributions ($ per share)as of 4/22/14
  Short-Term ($) Long-Term ($) Total Amount of Distribution ($) Record Date Ex Div Date Pay Date
2013 0.0000 0.0032 0.0032 12/11/13 12/12/13 12/13/13
2007 0.7143 0.4449 1.1592 12/20/07 12/21/07 12/24/07
2006 0.6822 0.4477 1.1299 12/18/06 12/19/06 12/20/06
2005 0.3747 0.1991 0.5739 12/7/05 12/8/05 12/9/05
2004 0.0922 0.0926 0.1849 12/8/04 12/9/04 12/10/04

There is no guarantee of the payment of any dividend or other distributions at any level.


The Fund's portfolio managers are employed by its Sub-Sub-Adviser, Cornerstone Real Estate Advisers, LLC.
Special Risks: Investments in real estate companies, including REITs or similar structures, are subject to volatility and risk, including loss in value due to poor management, lowered credit ratings and other factors. Smaller real estate companies may also be subject to liquidity risk. Small-sized company stock is typically more volatile than that of larger, more established businesses, as these stocks tend to be more sensitive to changes in earnings expectations and tend to have lower trading volumes than large-cap securities, creating potential for more erratic price movements. It may take a substantial period of time to realize a gain on an investment in a small-sized company, if any gain is realized at all. The Fund is classified as a "non-diversified" fund and may invest a greater portion of its assets in the securities of a single issuer.
The Fund intends to declare and pay dividends quarterly. At the time of the distribution, the amounts attributed to each category (income, return of capital and/or capital gains) are estimated using historical information because the character of the amounts received from underlying real estate investment trusts ("REITs") is unknown until after the end of the calendar year. The amount distributed to shareholders is generally equal to all of the underlying REIT distributions received less fund expenses. However, that amount can change from time to time in order to comply with applicable SEC and IRS regulations. The distribution yield is based on the ex-dividend date immediately preceding the nearest month-end or quarter-end. The ex-dividend date is the day before the pay date. The distribution yield for each share class is calculated by annualizing the amount distributed by the class on that date (which includes income, return of capital and/or capital gains to the extent the distribution represents underlying REIT distributions less fund expenses but only to the extent actually distributed in accordance with regulations) and dividing that figure by the class's net asset value on that date. Each result is compounded semiannually and annualized. Adjusted distribution yield for each share class is based on the Fund's distributions less (1) capital gain distributions and (2) an estimate of the average return of capital and capital gains from REITs based on historical ratios from the past three calendar years and that date's net asset value. The result is compounded semiannually and annualized. Falling share prices artificially increase yield. Please note that OppenheimerFunds, Inc. is not quoting a 30-day SEC yield. See the Fund's prospectus for more information.
Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $5 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million. Class I shares are sold at net asset value without a sales charge. Please see Fund prospectuses for additional information.
While the Dividend/Share column is updated the next business day after a dividend payment (as stated in the date below the table), the 12-Month Distribution ($) column is updated monthly. Therefore, there may be a time where the 12-Month Yield data is inconsistent with the Dividend/Share data.
Class B shares convert to Class A shares 72 months after purchase; therefore "since inception", "10-year" and "15-year" returns for Class B (if applicable) use Class A performance for period after conversion.
There is no guarantee of the payment of any dividend or other distributions at any level.

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.

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