John V. Murphy OppenheimerFunds Logo - -------------- --------------------- President & 498 Seventh Avenue, 10th Floor Chief Executive Officer New York, NY 10018 July 14, 2003 1.800.708.7780 www.oppenheimerfunds.com Dear Oppenheimer Select Managers Gartmore Millennium Growth Fund II Shareholder, One of the things we are proud of at OppenheimerFunds, Inc. is our commitment to our Fund shareholders. I am writing to you today to let you know about a positive change that has been proposed for Oppenheimer Select Managers Gartmore Millennium Growth Fund II. After careful consideration, the Board of Trustees has determined that it would be in the best interest of shareholders of Oppenheimer Select Managers Gartmore Millennium Growth Fund II ("GMG Fund") to reorganize into another Oppenheimer fund, Oppenheimer MidCap Fund ("MidCap Fund"). A shareholder meeting has been scheduled in August, and all GMG Fund shareholders of record as of June 18, 2003 are being asked to vote either in person or by proxy, on the proposed reorganization. You will find a notice of the meeting, a ballot card, a proxy statement detailing the proposal, a MidCap Fund prospectus and a postage-paid return envelope enclosed for your use. Why does the Board of Trustees recommend this change? - ----------------------------------------------------- GMG Fund and MidCap Fund have similar investment objectives. GMG Fund seeks long-term capital appreciation and MidCap Fund seeks capital appreciation. In seeking their investment objectives, GMG Fund and MidCap Fund utilize a similar investing strategy. GMG Fund invests primarily in securities of growth companies that are creating fundamental changes in the economy and MidCap Fund looks for, among other characteristics, established growth companies that are well-positioned to take advantage of product or technology advances in their industry or related growth sector. Among other factors, the GMG Fund Board considered that the expense ratio of MidCap Fund has been lower than the expense ratio of GMG fund. Although past performance is not predictive of future results, shareholders of GMG Fund would have an opportunity to become shareholders of a fund with a better long-term performance history. How do you vote? - ---------------- No matter how large or small your investment, your vote is important, so please review the proxy statement carefully. To cast your vote, simply mark, sign and date the enclosed proxy ballot and return it in the postage-paid envelope today. Remember, it can be costly for the Fund--and ultimately for you as a shareholder--to remail ballots if not enough responses are received to conduct the meeting. If you have any questions about the proposal, please feel free to contact your financial advisor or call us at 1.800.708.7780. As always, we appreciate your confidence in OppenheimerFunds and look forward to serving you for many years to come. Sincerely, /s/John V. Murphy -------------------------------- John V. Murphy Enclosures
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N-14 Filing
Oppenheimer MidCap Fund (OMDAX) Inactive N-14Registration statement for investment companies business combination
Filed: 20 Jun 03, 12:00am