John V. Murphy Chairman and OppenheimerFunds Logo Chief Executive Officer OppenheimerFunds, Inc. Two World Financial Center 225 Liberty Street New York, NY 10281-1008 www.oppenheimerfunds.com September 6, 2007 Dear Oppenheimer Growth Fund Shareholder: We have scheduled a shareholder meeting on November 2, 2007 for you to decide upon an important proposal for the Fund. Your ballot card, an Oppenheimer Capital Appreciation Fund prospectus, and a detailed combined prospectus and proxy statement are enclosed with this letter. After careful consideration, the Board of Trustees has determined that it would be in the best interest of shareholders of Oppenheimer Growth Fund to reorganize into another Oppenheimer fund, Oppenheimer Capital Appreciation Fund. A shareholder meeting has been scheduled for November 2, and all Growth Fund shareholders of record as of July 25, 2007, are being asked to vote either in person or by proxy on the proposed reorganization. You will find a combined prospectus and proxy statement detailing the proposal, a ballot card, a Capital Appreciation Fund prospectus, instructions for voting by telephone or internet and a postage-paid return envelope for voting by mail enclosed for your use. Why does the Board of Trustees recommend this change? The Board voted to recommend that shareholders of Growth Fund approve a proposal to reorganize the Fund into Capital Appreciation Fund after considering, among other things, the two Funds' respective investment objectives and policies, management fees, distribution fees and other operating expenses, historical performance and asset size. Shareholders of Growth Fund are expected to realize a number of benefits from the proposed Reorganization. The assets of Growth Fund have been decreasing significantly since 2000, resulting in the Fund spreading its operating costs over a declining asset base. If the reorganization is approved, shareholders would get the benefit of a larger fund with lower operating expenses, resulting in you paying significantly lower expenses as a shareholder of Capital Appreciation Fund. Furthermore, although past performance is not indicative of future results, the performance of Capital Appreciation Fund outperformed the performance of Growth Fund over the 1-, 5- and 10-year periods (ended December 31, 2006). Moreover, the Funds' investment objectives and overall strategy of investing in growth stocks are the same. The Board of Growth Fund believes that shareholders will be best served by the proposed reorganization, and recommends a vote "For" the proposal. How do you vote? To cast your vote, simply mark, sign and date the enclosed proxy ballot and return it in the postage-paid envelope today. You also may vote by telephone or internet by following the instructions on the proxy ballot. Using a touch-tone telephone or the internet to cast your vote saves you time and helps reduce the Fund's expenses. If you vote by phone or internet, you do not need to mail the proxy ballot. Remember, it can be expensive for the Fund--and ultimately for you as a shareholder--to re-mail ballots if not enough responses are received to conduct the scheduled meeting. If your vote is not received before the scheduled meeting, you may receive a telephone call asking you to vote. Please read the enclosed combined prospectus and proxy statement for complete details on this proposal. Of course, if you have any questions, please contact your financial advisor, or call us at 1.800. 225.5677. 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 signature] Enclosures XP0270.002.0907 Dear Shareholder: We have scheduled a shareholder meeting on November 2, 2007 for you to decide upon an important proposal for the Fund. After careful consideration, the Board of Trustees has determined that it would be in the best interest of shareholders of Oppenheimer Growth Fund to reorganize into another Oppenheimer fund, Oppenheimer Capital Appreciation Fund. Please take a few moments of your time to review the attached proxy statement and Capital Appreciation Fund Prospectus, and vote your shares. Your vote is extremely important no matter the size of your investment, and critical to conducting the formal business of the shareholder meeting. To VIEW THE PROXY STATEMENT please click on the link below. Oppenheimer Growth Fund Proxy Statement To VIEW THE CAPITAL APPRECIATION FUND PROSPECTUS please click on the link below. Oppenheimer Capital Appreciation Fund Prospectus To VOTE YOUR SHARES please click on the link below. You will need the proxy control number and check digit found below in order to vote your shares. www.oppenheimerfunds.com Proxy Control Number: 022000011519 Check Digit: 06687 If you have any questions please contact your financial advisor or call us at 1.800.225.5677. As always, we appreciate your confidence in OppenheimerFunds and look forward to serving you for many years to come.
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DEFA14A Filing
Oppenheimer Capital Appreciation Fund DEFA14AAdditional proxy soliciting materials
Filed: 28 Sep 07, 12:00am