John V. Murphy Chairman, President and OppenheimerFunds Logo Chief Executive Officer OppenheimerFunds, Inc. Two World Financial Center 225 Liberty Street New York, NY 10281-1008 www.oppenheimerfunds.com May 27, 2005 Dear Oppenheimer Multi-Sector Income Trust Shareholder: We have scheduled a shareholder meeting on July 12, 2005 for you to decide upon an important proposal for the Fund. Your ballot card and a detailed 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 Multi-Sector Income Trust ("Multi-Sector Fund") to reorganize with and into another Oppenheimer fund, Oppenheimer Strategic Income Fund. A shareholder meeting has been scheduled in July, and all Multi-Sector Fund shareholders of record as of April 14, 2005, are being asked to vote either in person or by proxy, on the proposed reorganization. You will find a proxy statement detailing the proposal, a ballot card, an Oppenheimer Strategic Income Fund prospectus, instruction for voting by telephone and a postage-paid return envelope enclosed for your use. Why does the Board of Trustees recommend this change? The Board voted to recommend that shareholders of Multi-Sector Fund approve a proposal to reorganize the fund with and into Oppenheimer Strategic Income Fund, an open-end fund. OppenheimerFunds, Inc. (the "Manager") is the investment manager to both Funds. Both Funds have similar investment objectives and investment strategies and policies and have a common portfolio manager. Although there can be unique benefits to owning shares of a closed-end fund, Multi-Sector Fund shares have been trading at a discount for some time, an issue of concern for the Board. While several potential measures were considered (detailed in full in the enclosed statement), the Fund's Board of Trustees 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 by following the instructions on the proxy ballot. Using a touch-tone telephone to cast your vote saves you time and helps reduce the Fund's expenses. If you vote by phone, 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 remail ballots if not enough responses are received to conduct the 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 proxy statement for complete details on this proposal. Of course, if you have any questions, please contact your financial advisor, or call us at 1.800.647.7374. As always, we appreciate your confidence in OppenheimerFunds and look forward to serving you for many years to come. Sincerely, [John V. Murphy signature] Enclosures XP0680.002.0505
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DEFA14A Filing
Oppenheimer Global Strategic Income Fund DEFA14AAdditional proxy soliciting materials
Filed: 27 May 05, 12:00am