[GRAPHIC OMITTED][GRAPHIC OMITTED] August 20, 2003 Mayer, Brown, Rowe & Maw LLP 1675 Broadway New York, New York 10019-5820 Main Tel (212) 506-2500 Main Fax (212) 262-1910 www.mayerbrownrowe.com Oppenheimer Growth Fund 6803 South Tucson Way Centennial, Colorado 80112 Ladies and Gentlemen: This opinion is being furnished to Oppenheimer Growth Fund, a Massachusetts business trust ("Growth"), in connection with the Registration Statement on Form N-14 (the "Registration Statement") under the Securities Act of 1933, as amended (the "1933 Act"), by Growth in connection with the acquisition by Growth of substantially all the assets of Jennison Growth Fund, a series of Oppenheimer Select Managers, a Massachusetts business trust ("Jennison Growth"), in exchange for shares of beneficial interest of Growth ("Shares") and the assumption by Growth of certain stated liabilities of Jennison Growth pursuant to an Agreement and Plan of Reorganization dated as of April 28, 2003 (the "Reorganization Agreement"). We have examined such statutes, regulations, corporate records and other documents and reviewed such questions of law as we deemed necessary or appropriate for the purposes of this opinion. As to matters of Massachusetts law contained in this opinion, we have relied upon the opinion of Kushner & Sanders LLP, dated the date hereof. Based upon the foregoing, we are of the opinion that the Shares when issued, as described in the Reorganization Agreement, will be duly authorized and, assuming receipt of the consideration to be paid therefor, upon delivery as provided in the Reorganization Agreement, will be validly issued, fully paid and non-assessable (except for the potential liability of shareholders described in Growth's Statement of Additional Information dated October 23, 2002, as revised February 12, 2003 under the caption "Shareholder and Trustee Liability"). We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to us as legal counsel to Growth in the Prospectus forming a part of the Registration Statement. We do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the 1933 Act or the rules and regulations of the Securities and Exchange Commission thereunder. Very truly yours, MAYER, BROWN, ROWE & MAW LLP Brussels Charlotte Chicago Cologne Frankfurt Houston London Los Angeles Manchester New York Palo Alto Paris Washington, D.C. Independent Mexico City Correspondent: Jauregui, Navarrete, Nader y Rojas, S.C. Mayer, Brown, Rowe & Maw LLP operates in combination with our associated English limited liability partnership in the offices listed above.
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N-14/A Filing
Oppenheimer Growth Fund (OPSBX) Inactive N-14/ARegistration statement for investment companies business combination (amended)
Filed: 20 Aug 03, 12:00am