FORM OF PROXY CARD
PANORAMA SERIES FUND, INC.
Government Securities Portfolio
PROXY FOR A SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON APRIL 25, 2008
The undersigned, revoking prior proxies, hereby appoints Brian Wixted, Brian
Szilagyi, and Kathleen Ives, and each of them, as attorneys-in-fact and proxies
of the undersigned, with full power of substitution, to vote shares held in the
name of the undersigned on the record date at the Special Meeting of
Shareholders Government Securities Portfolio (the "Panorama Fund"), a series of
Panorama Series Fund, Inc., to be held at 6803 South Tucson Way, Centennial,
Colorado, 80112, on April 25, 2008, at 1:00 P.M. Mountain Time, or at any
adjournment thereof, upon the proposals described in the Notice of Meeting and
Proxy Statement, which have been received by the undersigned.
This proxy is solicited on behalf of the Fund's Board of Directors, and the
proposals (set forth on the reverse side of this proxy card) have been proposed
by the Board of Directors.
When properly executed, this proxy will be voted as indicated on the
reverse side or "FOR" the proposals if no choice is indicated. The proxy will be
voted in accordance with the proxy holders' best judgment as to any other
matters that may arise at the Meeting.
Note: Please sign this proxy exactly as your name or names appear hereon.
Each joint owner should sign. Trustees and other fiduciaries should indicate the
capacity in which they sign. If a corporation, partnership or other entity, this
signature should be that of a duly authorized individual who should state his or
her title.
_____________________________________________________
Signature Date
_____________________________________________________
Signature (if held jointly) Date
_________________________________
Title if a corporation, partnership or other entity
YOUR VOTE IS IMPORTANT, NO MATTER HOW MANY SHARES YOU OWN. THE MATTERS WE
ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS
A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST
YOUR VOTE USING EITHER OF THE METHODS DESCRIBED BELOW.
Two simple methods to vote your proxy:
1. Touchtone Simply dial toll-free 1-866-458-9856 and follow the automated Check Digit:
Phone: instructions. Please have this proxy card available at the time of the
call.
2. Mail: Simply sign, date, and complete the reverse side of this proxy card and
return it in the postage paid envelope provided.
TAGID: "TAG ID" CUSIP: "CUSIP"
PROXY CARD
PANORAMA SERIES FUND, INC.
Government Securities Portfolio
PROXY FOR A SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON APRIL 25, 2008
TO VOTE, MARK ONE BOX IN BLUE OR BLACK INK. Example:
PROPOSALS:
1. To approve an Agreement and Plan of Reorganization between Panorama Fund
and Oppenheimer Core Bond Fund/VA ("Core Bond Fund/VA"), a series of Oppenheimer
Variable Account Funds, and the transactions contemplated thereby, including:
(a) the transfer of substantially all the assets of Panorama Fund to Core Bond
Fund/VA in exchange for Non-Service shares of Core Bond Fund/VA; (b) the
distribution of Non-Service shares of Core Bond Fund/VA to shareholders of
Panorama Fund in complete liquidation of Panorama Fund; and (c) the cancellation
of the outstanding shares of Panorama Fund; and
2. To act upon such other matters as may properly come before the Meeting.
FOR AGAINST ABSTAIN
