OppenheimerFunds
Registered Representative Q&A:
In response to questions from brokers about the proxy mailing to their
clients on the change in fundamental investment policies in Global Bio-
Tech Fund.
August 16, 1994

Key Dates:

August 12          Proxy packages mailed to shareholders
September 19       Shareholder meeting date
September 19       Shareholder votes due

What was in the proxy package that was sent to my clients?

Proxy Statement - a proxy statement detailing the election of the
Trustees, the ratification of auditors and the Board's proposal to
change the Fund's fundamental investment policies to be voted on by the
shareholders at the meeting to be held in Denver on September 19.

Ballot or Proxy - a card with a perforated ballot which should be signed
and dated by all shareholders after marking his or her votes.

Business Reply Envelope - to be used to return ballots.

Annual Report - sent only to shareholders who opened accounts after the
date of the last annual report mailing (September '93).

What is my client being asked to vote on?

- --    Election of Trustees -  Your clients are being asked to re-elect
      the current Board of Trustees.  Information on the Trustees is
      included in the proxy statement.  They may choose to elect all,
      some or none of the individuals on the ballot card.

- --    Ratification of Auditors - The Fund hires independent auditors to
      review its financial statements.  Your clients are being asked to
      ratify the Board's selection of the auditors.

- --    Change in Fundamental Investment Policies -  The Fund's Board has
      recommended that shareholders of Global Bio-Tech Fund approve of a
      change of the Fund's fundamental investment policies.  The proposal
      is to broaden the Fund's investment capabilities to emphasize
      global emerging growth companies, rather than just bio-tech
      companies.

If the proposal is approved, the Fund's portfolio management team will
have the flexibility to invest in many emerging growth sectors
worldwide, which they believe will provide greater growth potential than
the current investment emphasis on the biotechnology sector alone. 
However, the Fund's investment objective of capital appreciation will
remain the same.

Oppenheimer Management Corporation believes that by expanding the
investment focus of your clients' Fund from global biotechnology stocks
to global emerging growth companies, they will be able to take advantage
of the dramatic changes affecting world markets today, while potentially
reducing some of the risks associated with sector fund investing by
diversifying the Fund's investments across different sectors.

How do they vote?

There are three numbered items on the left side of the ballot and
corresponding voting boxes on the right.

1.  Election of Trustees.  To approve the election of ALL the Trustees,
check the box marked "For all nominees listed" (the first box).  If
there are individual Trustees you do not wish to elect, mark a line
through their name and still check the box "For all nominees listed." 
To vote against all of the nominees, check the second box "Withhold
Authority."

2.  Ratification of Auditors.  They may choose to vote "For" or
"Against" or "Abstain."

3.  Approval of Change in Fund's investment policies.  They may choose
to vote "For" or "Against" or "Abstain."

Note:  clients need to remember that all persons listed as shareholders
for an account must sign and date the ballot as indicated.  Fiduciaries
must use their fiduciary titles.

Why should my clients vote for the change in investment policies of the
Fund?

Oppenheimer Management Corporation believes that smaller companies are
well positioned to take advantage of the dramatic changes affecting the
world markets, and as these markets mature, we believe the investment
opportunities will be attractive.

Additionally, our global investment management team believes that the
ability to invest in many emerging growth sectors worldwide will provide
greater growth potential while reducing some of the risk to principal by
diversifying the Fund's investment across a number of sectors.

Does this mean there will no longer be any investment in the
biotechnology sector?

No.  The Fund can continue to take advantage of opportunities in
biotechnology stocks and may invest a significant portion of its assets
in the sector.  It is expected that the Fund will continue to hold a
significant amount of bio-tech stocks until the portfolio can be
repositioned in an orderly manner.  The overall focus of the Fund,
however, will be broadened to include opportunities in the other sectors
as well.

In what other sectors will the Global Emerging Growth Fund invest in if
the proposal is approved?

Besides investing in the bio-tech and environment sectors, the Global
Emerging Growth Fund will be able to take advantage of opportunities in
other sectors that may include, among others, telecommunications,
developing markets and emerging consumer markets.