UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-02945
Centennial Money Market Trust
(Exact name of registrant as specified in charter)
6803 South Tucson Way, Centennial, Colorado 80112-3924
(Address of principal executive offices) (Zip code)
Robert G. Zack, Esq.
OppenheimerFunds, Inc.
Two World Financial Center, New York, New York 10281-1008
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(Name and address of agent for service)
Registrant's telephone number, including area code: (303) 768-3200
--------------
Date of fiscal year end: June 30
-------
Date of reporting period: July 1, 2003 - June 30, 2004
ITEM 1. REPORTS TO STOCKHOLDERS.
STATEMENT OF INVESTMENTS June 30, 2004
- -------------------------------------------------------------------------------
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- ------------------------------------------------------------------------
CERTIFICATES OF DEPOSIT--21.3%
- ------------------------------------------------------------------------
DOMESTIC CERTIFICATES OF DEPOSIT--1.5%
Citibank NA,
1.065%, 7/22/04 $100,000,000 $ 100,000,000
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Fifth Third Bank,
1.075%, 9/20/04 73,900,000 73,862,318
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Wells Fargo Bank NA:
1.07%, 7/7/04 50,000,000 50,000,000
1.08%, 7/6/04 45,000,000 45,000,000
1.09%, 7/13/04 40,000,000 40,000,000
----------------
308,862,318
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YANKEE CERTIFICATES OF DEPOSIT--19.8%
Bank of Montreal
Chicago, 1.29%,
8/13/04 100,000,000 100,000,000
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Bank of Nova
Scotia, 1.25%,
7/29/04 1 150,000,000 149,939,956
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BNP Paribas, New York:
1.195%, 7/22/04 1 125,000,000 124,944,783
1.31%, 8/24/04 194,000,000 194,000,000
1.39%, 8/5/04 29,800,000 29,807,756
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Calyon, New York,
1.37%, 9/10/04 140,000,000 140,000,000
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Canadian Imperial
Bank of Commerce
NY:
1.12%, 8/2/04 40,000,000 40,000,000
1.25%, 6/28/05 1 90,000,000 89,973,052
1.255%, 9/17/04 100,000,000 100,000,000
1.39%, 9/23/04 195,000,000 195,000,000
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Credit Lyonnais,
New York, 1.09%,
8/20/04 21,000,000 21,000,000
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Danske Bank,
New York:
1.11%, 7/19/04 10,000,000 10,000,051
1.13%, 7/21/04 95,000,000 95,002,115
1.221%, 7/26/04 1 100,000,000 99,970,311
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Deutsche Bank,
New York, 1.12%,
7/8/04 73,000,000 73,000,751
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Fortis Bank SA/
NV, New York:
1.25%, 9/10/04 100,000,000 100,000,000
1.255%, 9/16/04 100,000,000 100,000,000
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
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YANKEE CERTIFICATES OF DEPOSIT Continued
HBOS Treasury
Services, New York:
1.28%, 8/13/04 $ 50,000,000 $ 50,000,000
1.285%, 9/17/04 80,000,000 80,000,000
1.31%, 8/20/04 30,000,000 30,000,000
1.65%, 10/29/04 187,000,000 187,000,000
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Lloyds TSB Bank
plc, New York:
1.065%, 9/7/04 89,000,000 88,967,084
1.13%, 7/6/04 83,400,000 83,400,228
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Nordea Bank
Finland plc,
New York Branch:
1.125%, 7/8/04 50,000,000 50,000,000
1.125%, 7/9/04 47,500,000 47,500,000
1.125%, 7/14/04 50,000,000 50,000,000
1.255%, 6/29/05 1 73,000,000 72,974,432
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Royal Bank of
Canada, New York
Branch, 1.23%,
6/27/05 1 150,000,000 149,955,205
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Royal Bank of
Scotland, New York:
1.09%, 7/30/04 38,000,000 38,000,000
1.125%, 7/8/04 165,000,000 165,000,000
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Societe Generale,
New York:
1.125%, 8/23/04 150,000,000 150,000,000
1.141%, 6/14/05 1 117,000,000 116,961,532
1.26%, 9/15/04 95,000,000 95,000,000
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Svenska
Handelsbanken NY:
1.115%, 8/16/04 100,000,000 100,000,000
1.12%, 8/13/04 30,000,000 30,000,000
1.125%, 7/14/04 52,000,000 52,000,000
1.39%, 9/23/04 100,000,000 100,000,000
1.43%, 9/24/04 95,000,000 95,000,000
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Swedbank AB,
New York Branch,
1.125%, 7/12/04 120,000,000 120,000,000
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Toronto Dominion
Bank, New York:
1.29%, 8/12/04 49,000,000 49,000,000
1.61%, 10/14/04 100,000,000 100,000,000
5 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF INVESTMENTS Continued
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PRINCIPAL VALUE
AMOUNT SEE NOTE 1
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YANKEE CERTIFICATES OF DEPOSIT Continued
UBS AG Stamford CT:
1.10%, 9/7/04 $ 50,000,000 $ 49,983,712
1.255%, 9/13/04 75,000,000 75,000,767
1.255%, 9/14/04 96,500,000 96,501,001
1.26%, 9/16/04 170,000,000 170,001,810
1.425%, 9/24/04 40,000,000 40,000,470
----------------
4,194,885,016
----------------
Total Certificates of Deposit
(Cost $4,503,747,334) 4,503,747,334
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DIRECT BANK OBLIGATIONS--17.2%
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AB SPINTAB:
1.07%, 7/15/04 125,000,000 124,947,986
1.09%, 8/5/04 90,000,000 89,904,625
1.095%, 8/18/04 32,000,000 31,953,280
1.26%, 9/9/04 45,000,000 44,889,750
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Calyon North
America, Inc.:
1.34%, 9/7/04 100,000,000 99,746,889
1.40%, 9/9/04 134,200,000 133,834,678
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Danske Corp.,
Series A:
1.07%, 7/12/04 13,000,000 12,995,750
1.09%, 7/29/04 75,000,000 74,936,417
1.11%, 7/7/04 33,000,000 32,993,895
1.12%, 7/6/04 100,000,000 99,984,444
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Deutsche Bank
Financial LLC:
1.11%, 8/20/04 40,000,000 39,938,333
1.12%, 7/9/04 164,000,000 163,959,182
1.12%, 7/12/04 120,000,000 119,958,933
1.12%, 8/19/04 35,000,000 34,946,644
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DnB NOR
Bank ASA:
1.24%, 8/12/04 37,500,000 37,445,750
1.315%, 9/2/04 50,000,000 49,884,938
1.35%, 8/13/04 100,000,000 99,838,750
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Fortis Funding LLC:
1.27%, 8/26/04 2 93,800,000 93,614,693
1.27%, 9/15/04 2 115,000,000 114,691,672
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
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DIRECT BANK OBLIGATIONS Continued
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Governor & Co.
of the Bank of
Ireland:
1.06%, 7/8/04 2 $65,000,000 $ 64,986,603
1.08%, 8/6/04 2 98,000,000 97,894,160
1.09%, 8/16/04 2 17,600,000 17,575,487
1.11%, 8/2/04 2 82,700,000 82,618,403
1.12%, 8/23/04 2 90,000,000 89,851,600
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HBOS Treasury
Services:
1.08%, 7/1/04 8,000,000 8,000,000
1.095%, 8/6/04 33,000,000 32,963,865
1.10%, 8/4/04 60,000,000 59,937,667
1.11%, 8/2/04 35,300,000 35,265,171
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LaSalle Bank NA,
1.14%, 8/25/04 85,000,000 85,000,000
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Lloyds TSB Bank
plc, New York,
1.39%, 9/24/04 100,000,000 100,000,000
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Nationwide
Building Society:
1.13%, 7/7/04 20,400,000 20,396,158
1.28%, 9/1/04 100,000,000 99,779,556
1.32%, 8/20/04 50,000,000 49,908,333
1.35%, 8/25/04 150,000,000 149,690,625
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Nordea North
America, Inc.:
1.085%, 7/23/04 90,925,000 90,864,712
1.09%, 7/30/04 10,000,000 9,991,219
1.60%, 10/14/04 58,000,000 57,729,333
1.615%, 10/15/04 50,000,000 49,762,236
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Rabobank USA
Financial Corp.,
1.40%, 7/1/04 124,005,000 124,005,000
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Royal Bank of
Canada, 1.04%,
7/9/04 150,000,000 149,965,333
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Societe Generale
North America,
1.06%, 7/16/04 150,000,000 149,933,750
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Stadshypotek
Delaware, Inc.,
1.07%, 7/20/04 2 50,000,000 49,971,764
6 | CENTENNIAL MONEY MARKET TRUST
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
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DIRECT BANK OBLIGATIONS Continued
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Toronto Dominion
Holdings, Inc.:
1.27%, 9/3/04 $ 50,000,000 $ 49,887,111
1.42%, 9/22/04 125,000,000 124,590,764
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UBS Finance
(Delaware) LLC:
1.07%, 7/15/04 36,000,000 35,985,020
1.29%, 9/7/04 21,900,000 21,846,637
1.30%, 9/1/04 2 12,800,000 12,771,342
1.30%, 9/20/04 15,800,000 15,753,785
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Wells Fargo
Bank NA:
1.04%, 7/1/04 50,000,000 50,000,000
1.06%, 7/2/04 13,500,000 13,500,000
1.11%, 7/9/04 50,000,000 50,000,000
1.11%, 8/20/04 100,000,000 100,000,000
----------------
Total Direct Bank Obligations
(Cost $3,650,892,243) 3,650,892,243
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LETTERS OF CREDIT--0.7%
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Barclays Bank plc,
guaranteeing commercial
paper of Barclays
US Funding Corp.:
1.135%, 7/26/04 100,000,000 99,921,181
1.135%, 7/27/04 50,000,000 49,959,014
----------------
Total Letters of Credit
(Cost $149,880,195) 149,880,195
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SHORT-TERM NOTES--58.7%
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ASSET-BACKED--24.9%
Barton Capital Corp.:
1.06%, 7/2/04 2 100,000,000 99,997,056
1.07%, 7/20/04 2 49,611,000 49,582,984
1.09%, 7/21/04 2 35,576,000 35,554,457
1.09%, 7/22/04 2 36,117,000 36,094,036
1.09%, 7/23/04 2 50,000,000 49,966,694
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Bryant Park
Funding LLC:
1.12%, 7/8/04 2 50,000,000 49,989,111
1.24%, 7/21/04 2 90,000,000 89,938,000
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Crown Point
Capital Co.:
1.08%, 7/16/04 2 84,333,000 84,295,050
1.12%, 8/6/04 2 40,118,000 40,073,068
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
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ASSET-BACKED Continued
Eiffel Funding LLC:
1.10%, 7/23/04 2 $ 80,000,000 $ 79,946,222
1.105%, 7/27/04 2 50,000,000 49,960,097
1.13%, 8/2/04 2 7,100,000 7,092,868
1.23%, 8/3/04 2 25,000,000 24,971,813
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Fairway Finance
Corp., 1.405%,
9/22/04 2 100,000,000 99,676,069
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FCAR Owner
Trust I:
1.06%, 7/2/04 9,700,000 9,699,714
1.11%, 8/4/04 85,000,000 84,910,892
1.15%, 8/16/04 85,000,000 84,875,097
1.61%, 10/15/04 115,000,000 114,454,836
1.61%, 10/18/04 135,000,000 134,341,913
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Galaxy Funding,
Inc.:
1.07%, 7/16/04 2 73,000,000 72,967,454
1.07%, 7/19/04 2 50,000,000 49,973,250
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Gemini
Securitization Corp.,
1.08%, 7/13/04 2 50,000,000 49,982,000
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Gotham Funding
Corp.:
1.10%, 7/1/04 2 219,551,000 219,551,000
1.12%, 7/15/04 2 62,569,000 62,539,191
1.16%, 7/26/04 2 25,024,000 25,003,842
1.29%, 7/19/04 2 25,000,000 24,983,875
1.34%, 7/23/04 2 75,000,000 74,938,583
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GOVCO, Inc.:
1.06%, 7/12/04 2 150,000,000 149,951,417
1.07%, 7/19/04 2 23,650,000 23,637,347
1.09%, 7/26/04 2 60,000,000 59,954,583
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Grampian
Funding LLC:
1.33%, 9/17/04 2 150,000,000 149,567,750
1.63%, 10/27/04 2 32,957,000 32,780,918
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Legacy Capital LLC:
1.14%, 7/20/04 2 50,000,000 49,969,917
1.14%, 8/18/04 2 45,196,000 45,127,302
1.36%, 9/2/042 2 210,373,000 209,864,405
7 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF INVESTMENTS Continued
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PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- ------------------------------------------------------------------------
ASSET-BACKED Continued
Lexington Parker
Capital Co. LLC:
1.08%, 7/12/04 2 $ 24,913,000 $ 24,904,779
1.08%, 7/15/04 2 29,452,000 29,439,630
1.08%, 7/16/04 2 25,072,000 25,060,718
1.10%, 7/19/04 2 50,632,000 50,604,152
1.11%, 8/6/04 2 43,000,000 42,952,270
1.16%, 8/3/04 2 179,296,000 179,106,894
1.49%, 10/5/04 2 50,000,000 49,801,333
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Neptune Funding
Corp.:
1.09%, 7/16/04 2 58,500,000 58,473,431
1.09%, 8/4/04 2 40,000,000 39,958,822
1.10%, 7/2/04 2 60,000,000 59,998,167
1.23%, 8/12/04 2 48,250,000 48,173,443
1.33%, 9/17/04 2 44,562,000 44,433,587
1.35%, 9/20/04 2 25,000,000 24,924,063
1.63%, 10/15/04 2 50,000,000 49,760,028
1.63%, 10/18/04 2 100,000,000 99,506,472
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New Center
Asset Trust:
1.34%, 8/16/04 100,000,000 99,828,778
1.60%, 10/7/04 123,000,000 122,464,267
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Perry Global
Funding LLC,
Series A:
1.07%, 7/14/04 2 68,232,000 68,205,636
1.075%, 7/19/04 2 208,025,000 207,910,988
1.10%, 7/13/04 2 96,708,000 96,672,540
1.17%, 7/28/04 2 48,900,000 48,857,090
1.21%, 8/18/04 2 5,000,000 4,991,933
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Preferred
Receivables
Funding Corp.,
1.13%, 8/11/04 2 13,888,000 13,870,127
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Regency Markets
No. 1 LLC:
1.265%, 7/21/04 2 111,166,000 111,087,705
1.28%, 8/20/04 2 134,112,000 133,868,888
1.30%, 7/22/04 2 45,000,000 44,965,875
1.37%, 9/7/04 2 122,742,000 122,422,525
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Scaldis Capital
LLC, 1.10%,
7/26/04 2 122,800,000 122,706,194
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Sheffield
Receivables Corp.,
1.10%, 7/6/04 2 75,000,000 74,988,542
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- ------------------------------------------------------------------------
ASSET-BACKED Continued
Solitaire Funding
LLC:
1.11%, 7/28/04 2 $ 43,154,000 $ 43,118,074
1.27%, 8/16/04 2 65,206,000 65,100,185
1.30%, 8/26/04 2 90,147,000 89,966,381
1.30%, 8/27/04 2 26,143,000 26,089,189
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Victory Receivables
Corp.:
1.10%, 7/1/04 2 43,144,000 43,144,000
1.11%, 7/6/04 2 50,000,000 49,992,292
1.12%, 7/9/04 2 43,413,000 43,402,195
1.23%, 7/16/04 2 95,000,000 94,951,313
1.25%, 7/14/04 2 36,000,000 35,983,750
1.31%, 8/26/04 2 75,718,000 75,563,704
1.35%, 9/2/04 2 88,616,000 88,406,645
----------------
5,281,869,416
- ------------------------------------------------------------------------
CAPITAL MARKETS--9.7%
Banc of America
Securities LLC,
1.23%, 7/1/04 1 180,000,000 180,000,000
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Bear Stearns
Cos., Inc.:
1.06%, 7/14/04 130,000,000 129,950,239
1.06%, 7/15/04 150,000,000 149,938,167
- ------------------------------------------------------------------------
Citigroup Global
Markets Holdings,
Inc.:
1.06%, 7/7/04 119,000,000 118,978,977
1.11%, 7/19/04 91,350,000 91,299,301
1.12%, 7/22/04 50,000,000 49,967,333
1.28%, 9/16/04 50,000,000 49,863,111
1.28%, 9/17/04 100,000,000 99,722,667
1.30%, 8/13/04 44,000,000 43,931,678
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Goldman Sachs
Group, Inc.:
1.18%, 7/2/04 3 100,000,000 100,000,000
1.22%, 8/23/04 3 60,000,000 60,000,000
1.39%, 9/20/04 3 115,000,000 115,000,000
1.64%, 10/8/04 3 50,000,000 50,000,000
1.68%, 10/18/04 3 102,000,000 102,000,000
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Lehman Brothers,
Inc., 1.38%,
12/15/04 1 152,000,000 152,000,000
8 | CENTENNIAL MONEY MARKET TRUST
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- ------------------------------------------------------------------------
CAPITAL MARKETS Continued
Morgan Stanley:
1.09%, 7/7/04 $150,000,000 $ 149,972,750
1.15%, 7/23/04 25,000,000 24,982,431
1.25%, 8/27/04 1 169,800,000 169,800,000
1.40%, 8/27/04 78,600,000 78,425,770
- ------------------------------------------------------------------------
Wachovia Securities
LLC, 1.30%,
12/22/04 1 140,000,000 140,000,000
----------------
2,055,832,424
- ------------------------------------------------------------------------
COMMERCIAL BANKS--2.6%
Bank of America
Corp., 1.30%,
8/12/04 38,000,000 37,942,367
- ------------------------------------------------------------------------
J.P. Morgan
Chase & Co.:
1.06%, 7/2/04 85,000,000 84,997,497
1.30%, 8/12/04 140,000,000 139,787,667
1.31%, 8/17/04 139,000,000 138,762,271
- ------------------------------------------------------------------------
National Australia
Funding
(Delaware), Inc.,
1.06%, 7/1/04 50,000,000 50,000,000
- ------------------------------------------------------------------------
National City
Credit Corp.,
1.05%, 7/1/04 100,000,000 100,000,000
----------------
551,489,802
- ------------------------------------------------------------------------
COMMERCIAL FINANCE--0.3%
Caterpillar Financial
Services Corp.,
Series F:
1.24%, 1/14/05 1 20,000,000 20,015,461
1.45%, 4/25/05 1 35,000,000 35,092,740
- ------------------------------------------------------------------------
Private Export
Funding Corp.,
1.12%, 8/19/04 2 16,455,000 16,429,915
----------------
71,538,116
- ------------------------------------------------------------------------
CONSUMER FINANCE--0.1%
American Express
Credit Corp.,
Series B, 1.373%,
12/16/04 1 10,000,000 10,006,867
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- ------------------------------------------------------------------------
DIVERSIFIED FINANCIAL SERVICES--4.5%
General Electric
Capital Corp.:
1.06%, 7/20/04 $160,000,000 $ 159,910,489
1.08%, 8/5/04 150,000,000 149,842,500
1.34%, 9/7/04 26,500,000 26,432,926
1.60%, 10/12/04 15,000,000 14,931,333
- ------------------------------------------------------------------------
General Electric
Capital Services:
1.09%, 7/28/04 140,000,000 139,885,550
1.30%, 9/9/04 90,000,000 89,772,500
- ------------------------------------------------------------------------
Greenwich Capital
Holdings, Inc.:
1.35%, 8/25/04 40,000,000 39,917,500
1.58%, 10/8/04 96,500,000 96,080,708
- ------------------------------------------------------------------------
Household Finance
Corp.:
1.60%, 10/13/04 85,200,000 84,806,187
1.60%, 10/14/04 100,000,000 99,533,333
- ------------------------------------------------------------------------
Prudential Funding
LLC, 1.12%,
8/4/04 50,000,000 49,947,111
----------------
951,060,137
- ------------------------------------------------------------------------
DIVERSIFIED TELECOMMUNICATION SERVICES--0.6%
SBC International,
Inc.:
1.14%, 7/12/04 2 42,510,000 42,495,192
1.14%, 7/13/04 2 25,000,000 24,990,500
1.27%, 7/22/04 2 50,000,000 49,962,958
----------------
117,448,650
- ------------------------------------------------------------------------
INSURANCE--6.4%
ING America
Insurance
Holdings, Inc.:
1.06%, 7/6/04 25,000,000 24,996,319
1.08%, 7/20/04 46,570,000 46,543,455
1.09%, 7/22/04 36,350,000 36,326,887
1.09%, 7/28/04 50,000,000 49,959,125
1.10%, 7/27/04 29,000,000 28,976,961
1.32%, 8/16/04 50,000,000 49,915,667
1.60%, 10/18/04 30,000,000 29,854,667
9 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF INVESTMENTS Continued
- --------------------------------------------------------------------------------
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- ------------------------------------------------------------------------
INSURANCE Continued
Jackson National
Life Global
Funding, Series
2004-6, 1.21%,
7/15/04 1,4 $ 50,000,000 $ 50,000,000
- ------------------------------------------------------------------------
Jackson National
Life Insurance Co.:
1.11%, 3/1/05 1 70,000,000 70,000,000
1.12%, 7/30/04 1 48,000,000 48,000,000
- ------------------------------------------------------------------------
Marsh & McLennan
Cos., Inc.:
1.30%, 8/4/04 2 90,000,000 89,889,500
1.30%, 8/5/04 2 50,000,000 49,936,806
- ------------------------------------------------------------------------
MetLife Funding,
Inc.:
1.07%, 7/14/04 135,463,000 135,410,659
1.08%, 7/21/04 100,000,000 99,940,000
- ------------------------------------------------------------------------
Metropolitan Life
Global Funding I,
Series 2003-5,
1.249%, 7/15/04 1,3 69,400,000 69,400,000
- ------------------------------------------------------------------------
Prudential Insurance
Co. of America,
1.16%, 1/31/05 1 165,000,000 165,000,000
- ------------------------------------------------------------------------
Security Life of
Denver Insurance
Co.:
1.21%, 10/27/04 1 65,000,000 65,000,000
1.21%, 12/17/04 1 100,000,000 100,000,000
1.31%, 8/18/04 1 72,600,000 72,600,000
- ------------------------------------------------------------------------
United of Omaha
Life Insurance Co.:
1.21%, 7/1/04 1,3 16,000,000 16,000,000
1.21%, 7/1/04 1,3 15,000,000 15,000,000
1.21%, 7/1/04 1,3 50,000,000 50,000,000
----------------
1,362,750,046
- ------------------------------------------------------------------------
LEASING & FACTORING--0.4%
American Honda
Finance Corp.:
1.208%, 11/19/04 1,4 40,000,000 39,998,451
1.31%, 12/6/04 1,4 50,000,000 49,997,847
----------------
89,996,298
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- ------------------------------------------------------------------------
SPECIAL PURPOSE FINANCIAL--9.2%
K2 (USA) LLC:
1.07%, 7/6/04 2 $ 5,800,000 $ 5,799,138
1.07%, 7/19/04 2 8,700,000 8,695,346
1.07%, 7/20/04 2 15,000,000 14,991,529
1.09%, 7/15/04 2 50,000,000 49,978,222
1.09%, 7/22/04 2 11,600,000 11,592,624
1.10%, 8/4/04 2 11,400,000 11,388,157
1.15%, 7/7/04 2 60,600,000 60,588,385
1.189%, 7/15/04 1,4 35,000,000 34,999,598
1.24%, 9/20/04 1,4 50,000,000 49,997,775
1.28%, 8/23/04 2 16,100,000 16,069,660
1.30%, 8/31/04 2 50,000,000 49,889,861
1.62%, 10/25/04 2 45,000,000 44,765,100
- ------------------------------------------------------------------------
LINKS Finance LLC:
1.10%, 8/5/04 2 40,000,000 39,957,222
1.18%, 10/15/04 1,4 100,000,000 100,000,000
1.24%, 1/21/05 1,4 90,000,000 89,989,995
1.26%, 8/25/04 1,4 50,000,000 49,998,493
1.26%, 9/30/04 1,4 75,000,000 74,996,270
- ------------------------------------------------------------------------
Parkland (USA) LLC:
1.09%, 11/19/04 1,4 50,000,000 50,000,000
1.219%, 10/15/04 1,4 40,000,000 39,998,842
1.219%, 1/14/05 1,4 23,000,000 22,998,759
1.32%, 9/30/04 1,4 50,000,000 49,998,757
1.588%, 12/10/04 1,4 50,000,000 49,997,787
- ------------------------------------------------------------------------
RACERS Trust,
Series 2004-6-MM,
1.28%, 7/22/04 1,4 156,500,000 156,500,000
- ------------------------------------------------------------------------
Sigma Finance, Inc.:
1.06%, 12/20/04 1,4 87,000,000 86,991,723
1.07%, 12/1/04 1,4 100,000,000 99,993,730
1.09%, 7/29/04 2 47,000,000 46,960,154
1.10%, 12/6/04 1,4 40,000,000 39,996,565
1.13%, 7/12/04 2 3,400,000 3,398,826
1.18%, 12/15/04 1,4 75,000,000 74,994,870
1.229%, 6/17/05 1,4 90,000,000 89,982,690
1.234%, 5/17/05 1,4 50,000,000 49,989,041
1.27%, 11/26/04 1,4 150,000,000 149,990,926
1.34%, 9/16/04 2 3,000,000 2,991,402
- ------------------------------------------------------------------------
Ticonderoga
Funding LLC:
1.26%, 7/22/04 4 96,877,000 96,805,795
1.31%, 7/28/04 4 50,000,000 49,950,875
1.31%, 7/29/04 4 70,650,000 70,578,016
----------------
1,945,816,133
----------------
Total Short-Term Notes
(Cost $12,437,807,889) 12,437,807,889
10 | CENTENNIAL MONEY MARKET TRUST
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- ------------------------------------------------------------------------
U.S. GOVERNMENT AGENCIES--2.7%
- ------------------------------------------------------------------------
Federal Home
Loan Bank:
1.40%, 4/1/05 $ 35,000,000 $ 34,987,578
1.50%, 2/28/05 50,000,000 50,000,000
- ------------------------------------------------------------------------
Federal National
Mortgage Assn.:
1.375%, 2/18/05 50,000,000 50,000,000
1.40%, 2/25/05 25,000,000 25,000,000
1.55%, 5/4/05 35,000,000 35,000,000
1.60%, 5/13/05 25,000,000 25,000,000
1.66%, 5/20/05 50,000,000 50,000,000
1.75%, 5/23/05 100,000,000 100,000,000
- ------------------------------------------------------------------------
FNMA Master
Credit Facility:
1.03%, 7/1/04 60,000,000 60,000,000
1.05%, 7/8/04 58,000,000 57,988,158
1.10%, 8/2/04 30,000,000 29,970,664
1.61%, 10/1/04 50,000,000 49,794,278
----------------
Total U.S. Government Agencies
(Cost $567,740,678) 567,740,678
- ------------------------------------------------------------------------
TOTAL INVESTMENTS,
AT VALUE
(COST
$21,310,068,339) 100.6% 21,310,068,339
- ------------------------------------------------------------------------
LIABILITIES
IN EXCESS OF
OTHER ASSETS (0.6) (119,189,549)
------------------------------------
NET ASSETS 100.0% $21,190,878,790
====================================
FOOTNOTES TO STATEMENT OF INVESTMENTS
SHORT-TERM NOTES, DIRECT BANK OBLIGATIONS AND LETTERS OF CREDIT ARE GENERALLY
TRADED ON A DISCOUNT BASIS; THE INTEREST RATE SHOWN IS THE DISCOUNT RATE
RECEIVED BY THE TRUST AT THE TIME OF PURCHASE. OTHER SECURITIES NORMALLY BEAR
INTEREST AT THE RATES SHOWN.
1. Represents the current interest rate for a variable or increasing rate
security.
2. Security issued in an exempt transaction without registration under the
Securities Act of 1933. Such securities amount to $5,896,040,140, or 27.82% of
the Trust's net assets, and have been determined to be liquid pursuant to
guidelines adopted by the Board of Trustees.
3. Identifies issues considered to be illiquid. See Note 4 of Notes to Financial
Statements.
4. Represents securities sold under Rule 144A, which are exempt from
registration under the Securities Act of 1933, as amended. These securities have
been determined to be liquid under guidelines established by the Board of
Trustees. These securities amount to $1,718,746,805 or 8.11% of the Trust's net
assets as of June 30, 2004.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
11 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF ASSETS AND LIABILITIES June 30, 2004
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
ASSETS
- --------------------------------------------------------------------------------
Investments, at value (cost $21,310,068,339)--
see accompanying statement of investments $21,310,068,339
- --------------------------------------------------------------------------------
Cash 45,440,493
- --------------------------------------------------------------------------------
Receivables and other assets:
Shares of beneficial interest sold 31,561,438
Interest 15,027,370
Other 917,994
----------------
Total assets 21,403,015,634
- --------------------------------------------------------------------------------
LIABILITIES
- --------------------------------------------------------------------------------
Payables and other liabilities:
Shares of beneficial interest redeemed 153,135,592
Investments purchased 49,794,278
Dividends 4,137,527
Transfer and shareholder servicing agent fees 2,195,815
Distribution and service plan fees 1,632,953
Shareholder communications 1,004,865
Trustees' compensation 58,471
Other 177,343
----------------
Total liabilities 212,136,844
- --------------------------------------------------------------------------------
NET ASSETS $21,190,878,790
===============
- --------------------------------------------------------------------------------
COMPOSITION OF NET ASSETS
- --------------------------------------------------------------------------------
Paid-in capital $21,190,878,790
----------------
NET ASSETS--applicable to 21,191,290,718
shares of beneficial interest outstanding $21,190,878,790
================
- --------------------------------------------------------------------------------
NET ASSET VALUE, REDEMPTION PRICE PER SHARE
AND OFFERING PRICE PER SHARE $1.00
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
12 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF OPERATIONS For the Year Ended June 30, 2004
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
INVESTMENT INCOME
- --------------------------------------------------------------------------------
Interest $252,111,653
- --------------------------------------------------------------------------------
EXPENSES
- --------------------------------------------------------------------------------
Management fees 75,083,207
- --------------------------------------------------------------------------------
Service plan fees 45,061,732
- --------------------------------------------------------------------------------
Transfer and shareholder servicing agent fees 27,202,583
- --------------------------------------------------------------------------------
Shareholder communications 1,231,986
- --------------------------------------------------------------------------------
Custodian fees and expenses 262,542
- --------------------------------------------------------------------------------
Trustees' compensation 101,919
- --------------------------------------------------------------------------------
Other 748,382
-------------
Total expenses 149,692,351
Less reduction to custodian expenses (14,552)
Less payments and waivers of expenses (35,313,692)
-------------
Net expenses 114,364,107
- --------------------------------------------------------------------------------
NET INVESTMENT INCOME 137,747,546
- --------------------------------------------------------------------------------
NET REALIZED GAIN ON INVESTMENTS 35,294
- --------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $137,782,840
=============
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
13 | CENTENNIAL MONEY MARKET TRUST
STATEMENTS OF CHANGES IN NET ASSETS
- --------------------------------------------------------------------------------
YEAR ENDED JUNE 30, 2004 2003
- --------------------------------------------------------------------------------
OPERATIONS
- --------------------------------------------------------------------------------
Net investment income $ 137,747,546 $ 270,905,285
- --------------------------------------------------------------------------------
Net realized gain 35,294 1,311,090
--------------------------------------
Net increase in net assets resulting
from operations 137,782,840 272,216,375
- --------------------------------------------------------------------------------
DIVIDENDS AND/OR DISTRIBUTIONS TO SHAREHOLDERS
- --------------------------------------------------------------------------------
Dividends from net investment income (137,747,546) (270,905,285)
- --------------------------------------------------------------------------------
Distributions from net realized gain -- (1,155,761)
- --------------------------------------------------------------------------------
BENEFICIAL INTEREST TRANSACTIONS
- --------------------------------------------------------------------------------
Net increase (decrease) in net assets
resulting from beneficial interest
transactions (1,827,754,177) 1,282,503,396
- --------------------------------------------------------------------------------
NET ASSETS
- --------------------------------------------------------------------------------
Total increase (decrease) (1,827,718,883) 1,282,658,725
- --------------------------------------------------------------------------------
Beginning of period 23,018,597,673 21,735,938,948
--------------------------------------
End of period $21,190,878,790 $23,018,597,673
======================================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
14 | CENTENNIAL MONEY MARKET TRUST
FINANCIAL HIGHLIGHTS
- ------------------------------------------------------------------------------------------------------
YEAR ENDED JUNE 30, 2004 2003 2002 2001 2000
- ------------------------------------------------------------------------------------------------------
PER SHARE OPERATING DATA
- ------------------------------------------------------------------------------------------------------
Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00
- ------------------------------------------------------------------------------------------------------
Income from investment operations--net
investment income and net realized gain .01 .01 .02 .06 .05
-----------------------------------------------------------------------------------------------------
Dividends and/or distributions to shareholders:
Dividends from net investment income (.01) (.01) (.02) (.06) (.05)
Distributions from net realized gain -- -- 1 -- 1 -- --
--------------------------------------------------
Total dividends and/or distributions
to shareholders (.01) (.01) (.02) (.06) (.05)
- ------------------------------------------------------------------------------------------------------
Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00
==================================================
- ------------------------------------------------------------------------------------------------------
TOTAL RETURN 2 0.61% 1.20% 1.99% 5.51% 5.36%
- ------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
- ------------------------------------------------------------------------------------------------------
Net assets, end of period (in millions) $21,191 $23,019 $21,736 $22,210 $18,734
- ------------------------------------------------------------------------------------------------------
Average net assets (in millions) $22,509 $22,783 $22,947 $20,830 $18,537
- ------------------------------------------------------------------------------------------------------
Ratios to average net assets: 3
Net investment income 0.61% 1.19% 1.97% 5.34% 5.20%
Total expenses 0.67% 0.66% 0.69% 0.67% 0.67%
Expenses after payments and waivers and
reduction to custodian expenses 0.51% 0.40% 0.66% N/A 4 N/A 4
1. Less than $0.005 per share.
2. Assumes an investment on the business day before the first day of the fiscal
period, with all dividends and distributions reinvested in additional shares on
the reinvestment date, and redemption at the net asset value calculated on the
last business day of the fiscal period. Total returns are not annualized for
periods less than one year. Returns do not reflect the deduction of taxes that a
shareholder would pay on Trust distributions or the redemption of Trust shares.
3. Annualized for periods of less than one full year.
4. Reduction to custodian expenses less than 0.01%.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
15 | CENTENNIAL MONEY MARKET TRUST
NOTES TO FINANCIAL STATEMENTS
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. SIGNIFICANT ACCOUNTING POLICIES
Centennial Money Market Trust (the Trust) is registered under the Investment
Company Act of 1940, as amended, as an open-end management investment company.
The Trust's investment objective is to seek the maximum current income that is
consistent with low capital risk and the maintenance of liquidity. The Trust's
investment advisor is Centennial Asset Management Corporation (the Manager), a
subsidiary of OppenheimerFunds, Inc. (OFI).
The following is a summary of significant accounting policies consistently
followed by the Trust.
- --------------------------------------------------------------------------------
SECURITIES VALUATION. The net asset value of shares of the Trust is normally
determined twice each day, at 12:00 Noon Eastern time and at 4:00 P.M. Eastern
time on each day The New York Stock Exchange (the Exchange) is open for
trading. Portfolio securities are valued on the basis of amortized cost, which
approximates market value.
- --------------------------------------------------------------------------------
FEDERAL TAXES. The Trust intends to comply with provisions of the Internal
Revenue Code applicable to regulated investment companies and to distribute
substantially all of its investment company taxable income to shareholders,
therefore, no federal income or excise tax provision is required.
The tax components of capital shown in the table below represent distribution
requirements the Trust must satisfy under the income tax regulations, losses
the Trust may be able to offset against income and gains realized in future
years for federal income tax purposes.
UNDISTRIBUTED NET UNDISTRIBUTED ACCUMULATED LOSS
INVESTMENT INCOME LONG-TERM GAIN CARRYFORWARD
---------------------------------------------------------
$4,201,505 $-- $--
Net investment income (loss) and net realized gain (loss) may differ for
financial statement and tax purposes. The character of dividends and
distributions made during the fiscal year from net investment income or net
realized gains may differ from their ultimate characterization for federal
income tax purposes. Also, due to timing of dividends and distributions, the
fiscal year in which amounts are distributed may differ from the fiscal year in
which the income or net realized gain was recorded by the Trust. Accordingly,
the following amounts have been reclassified for June 30, 2004. Net assets of
the Trust were unaffected by the reclassifications.
REDUCTION TO
ACCUMULATED NET
INCREASE TO REALIZED GAIN
PAID-IN CAPITAL ON INVESTMENTS 1
-----------------------------------
$35,294 $35,294
1. $35,294, all of which was long-term capital gain, was distributed in
connection with Trust share redemptions.
16 | CENTENNIAL MONEY MARKET TRUST
The tax character of distributions paid during the years ended June 30, 2004
and June 30, 2003 were as follows:
YEAR ENDED YEAR ENDED
JUNE 30, 2004 JUNE 30, 2003
---------------------------------------------------------------
Distributions paid from:
Ordinary income $137,747,546 $270,905,285
Long-term capital gain -- 1,155,761
----------------------------
Total $137,747,546 $272,061,046
============================
- --------------------------------------------------------------------------------
TRUSTEES' COMPENSATION. The Board of Trustees has adopted a deferred
compensation plan for independent trustees that enables trustees to elect to
defer receipt of all or a portion of the annual compensation they are entitled
to receive from the Trust. For purposes of determining the amount owed to the
Trustee under the plan, deferred amounts are treated as though equal dollar
amounts had been invested in shares of the Trust or in other Oppenheimer funds
selected by the Trustee. The Trust does purchase shares of the funds selected
for deferral by the Trustee in amounts equal to his or her deemed investment,
resulting in a Trust asset equal to the deferred compensation liability. Such
assets are included as a component of "Other" within the asset section of the
Statement of Assets and Liabilities. Deferral of trustees' fees under the plan
will not affect the net assets of the Trust, and will not materially affect the
Trust's assets, liabilities or net investment income per share. Amounts will be
deferred until distributed in accordance to the Plan.
- --------------------------------------------------------------------------------
DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS. Dividends and distributions to
shareholders, which are determined in accordance with income tax regulations,
are recorded on the ex-dividend date. Income distributions, if any, are
declared daily and paid monthly. Capital gain distributions, if any, are
declared and paid annually.
-------------------------------------------------------------------------------
EXPENSE OFFSET ARRANGEMENT. The reduction of custodian fees, if applicable,
represents earnings on cash balances maintained by the Trust.
-------------------------------------------------------------------------------
SECURITY TRANSACTIONS. Security transactions are recorded on the trade date.
Realized gains and losses on securities sold are determined on the basis of
identified cost.
-------------------------------------------------------------------------------
OTHER. The preparation of financial statements in conformity with U.S.
generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of income and expenses during the reporting
period. Actual results could differ from those estimates.
17 | CENTENNIAL MONEY MARKET TRUST
NOTES TO FINANCIAL STATEMENTS Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
2. SHARES OF BENEFICIAL INTEREST
The Trust has authorized an unlimited number of no par value shares of
beneficial interest. Transactions in shares of beneficial interest were as
follows:
YEAR ENDED JUNE 30, 2004 YEAR ENDED JUNE 30, 2003
SHARES AMOUNT SHARES AMOUNT
- -----------------------------------------------------------------------------------------------------
Sold 56,512,425,972 $ 56,512,425,972 54,901,317,706 $ 54,901,317,706
Dividends and/or
distributions reinvested 137,480,535 137,480,535 270,468,383 270,468,383
Redeemed (58,477,660,684) (58,477,660,684) (53,889,282,693) (53,889,282,693)
---------------------------------------------------------------------------
Net increase (decrease) (1,827,754,177) $ (1,827,754,177) 1,282,503,396 $ 1,282,503,396
===========================================================================
- --------------------------------------------------------------------------------
3. FEES AND OTHER TRANSACTIONS WITH AFFILIATES
MANAGEMENT FEES. Management fees paid to the Manager were in accordance with
the investment advisory agreement with the Trust which provides for a fee at an
annual rate of 0.50% of the first $250 million of the Trust's net assets,
0.475% of the next $250 million, 0.45% of the next $250 million, 0.425% of the
next $250 million, 0.40% of the next $250 million, 0.375% of the next $250
million, 0.35% of the next $500 million, and 0.325% of net assets in excess of
$2 billion.
- --------------------------------------------------------------------------------
ADMINISTRATION SERVICES. The Trust pays the Manager a fee of $1,500 per year
for preparing and filing the Trust's tax returns.
- --------------------------------------------------------------------------------
TRANSFER AGENT FEES. Shareholder Services, Inc. (SSI) acts as the transfer and
shareholder servicing agent for the Trust and for other registered investment
companies. The Trust pays SSI a per account fee. For the year ended June 30,
2004, the Trust paid $27,230,989 to SSI for services to the Trust.
- --------------------------------------------------------------------------------
SERVICE PLAN (12B-1) FEES. The Trust has adopted a service plan. It reimburses
Centennial Asset Management Corporation, the Distributor, for a portion of its
costs incurred for services provided to accounts that hold shares of the Trust.
Reimbursement is made quarterly, or monthly depending on asset size, at an
annual rate of up to 0.20% of the average annual net assets of the Trust. The
Distributor currently uses all of those fees to pay dealers, brokers, banks and
other financial institutions quarterly for providing personal services and
maintenance of accounts of their customers that hold shares of the Trust. Fees
incurred by the Trust under the Plan are detailed in the Statement of
Operations.
- --------------------------------------------------------------------------------
PAYMENTS AND WAIVERS OF EXPENSES. In the investment advisory agreement, the
Manager guarantees that the Trust's total expenses in any fiscal year,
exclusive of taxes, interest and brokerage concessions, and extraordinary
expenses such as litigation costs, shall not exceed the lesser of 1.5% of the
average annual net assets of the Trust up to $30 million and 1% of its average
annual net assets in excess of $30 million; or 25% of the total annual
investment income of the Trust. As a result of this agreement, the Trust was
reimbursed $35,313,692, for the year ended June 30, 2004. Effective November
25, 2003, the expense limitation was terminated.
18 | CENTENNIAL MONEY MARKET TRUST
SSI has voluntarily agreed to limit transfer and shareholder servicing agent
fees to 0.35% of average annual net assets of the Trust. This undertaking may
be amended or withdrawn at any time.
- --------------------------------------------------------------------------------
4. ILLIQUID SECURITIES
As of June 30, 2004, investments in securities included issues that are
illiquid. A security may be considered illiquid if it lacks a readily available
market or if its valuation has not changed for a certain period of time. The
Trust intends to invest no more than 10% of its net assets (determined at the
time of purchase and reviewed periodically) in illiquid securities. The
aggregate value of illiquid securities subject to this limitation as of June
30, 2004 was $577,400,000, which represents 2.72% of the Trust's net assets.
19 | CENTENNIAL MONEY MARKET TRUST
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
TO THE BOARD OF TRUSTEES AND SHAREHOLDERS OF CENTENNIAL MONEY MARKET TRUST:
We have audited the accompanying statement of assets and liabilities of
Centennial Money Market Trust, including the statement of investments, as of
June 30, 2004, and the related statement of operations for the year then ended,
the statements of changes in net assets for each of the two years in the period
then ended, and the financial highlights for the periods indicated. These
financial statements and financial highlights are the responsibility of the
Trust's management. Our responsibility is to express an opinion on these
financial statements and financial highlights based on our audits.
We conducted our audits in accordance with the standards of the Public
Company Accounting Oversight Board (United States). Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements and financial highlights are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. Our procedures
included confirmation of securities owned as of June 30, 2004, by
correspondence with the custodian and brokers; where replies were not received
from brokers, we performed other auditing procedures. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred
to above present fairly, in all material respects, the financial position of
Centennial Money Market Trust as of June 30, 2004, the results of its
operations for the year then ended, the changes in its net assets for each of
the two years in the period then ended, and the financial highlights for the
periods indicated, in conformity with accounting principles generally accepted
in the United States of America.
DELOITTE & TOUCHE LLP
Denver, Colorado
August 13, 2004
20 | CENTENNIAL MONEY MARKET TRUST
FEDERAL INCOME TAX INFORMATION Unaudited
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
In early 2005, if applicable, shareholders of record will receive information
regarding all dividends and distributions paid to them by the Trust during
calendar year 2004. Regulations of the U.S. Treasury Department require the
Trust to report this information to the Internal Revenue Service.
None of the dividends paid by the Trust during the year ended June 30, 2004
are qualified dividend income or eligible for the corporate dividend-received
deduction.
The foregoing information is presented to assist shareholders in reporting
distributions received from the Trust to the Internal Revenue Service. Because
of the complexity of the federal regulations which may affect your individual
tax return and the many variations in state and local tax regulations, we
recommend that you consult your tax advisor for specific guidance.
- --------------------------------------------------------------------------------
PORTFOLIO PROXY VOTING POLICIES AND PROCEDURES Unaudited
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
The Fund has adopted Portfolio Proxy Voting Policies and Procedures under which
the Fund votes proxies relating to securities ("portfolio proxies") held by the
Fund. A description of the Fund's Portfolio Proxy Voting Policies and
Procedures is available (i) without charge, upon request, by calling the Fund
toll-free at 1.800.525.7048, (ii) on the Fund's website at
www.oppenheimerfunds.com, and (iii) on the SEC's website at www.sec.gov. In
addition, the Fund is required to file new Form N-PX, with its complete proxy
voting record for the 12 months ended June 30th, no later than August 31st of
each year. The Fund's Form N-PX filing is available (i) without charge, upon
request, by calling the Fund toll-free at 1.800.525.7048, and (ii) on the SEC's
website at www.sec.gov.
21 | CENTENNIAL MONEY MARKET TRUST
TRUSTEES AND OFFICERS Unaudited
- --------------------------------------------------------------------------------
NAME, POSITION(S) HELD WITH PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS; OTHER
TRUST, LENGTH OF SERVICE, TRUSTEESHIPS/DIRECTORSHIPS HELD BY TRUSTEE; NUMBER
AGE OF PORTFOLIOS IN FUND COMPLEX CURRENTLY OVERSEEN
BY TRUSTEE
INDEPENDENT THE ADDRESS OF EACH TRUSTEE IN THE CHART BELOW IS
TRUSTEES 6803 S. TUCSON WAY, CENTENNIAL, CO 80112-3924.
EACH TRUSTEE SERVES FOR AN INDEFINITE TERM, UNTIL
HIS OR HER RESIGNATION, RETIREMENT, DEATH OR
REMOVAL.
WILLIAM L. ARMSTRONG, Chairman of the following private mortgage banking
Vice Chairman (since 2003) companies: Cherry Creek Mortgage Company (since
and Trustee (since 2000) 1991), Centennial State Mortgage Company (since
Age: 67 1994), The El Paso Mortgage Company (since 1993),
Transland Financial Services, Inc. (since 1997);
Chairman of the following private companies: Great
Frontier Insurance (insurance agency) (since
1995), Ambassador Media Corporation and Broadway
Ventures (since 1984); a director of the following
public companies: Helmerich & Payne, Inc. (oil and
gas drilling/production company) (since 1992) and
UNUMProvident (insurance company) (since 1991).
Mr. Armstrong is also a Director/Trustee of Campus
Crusade for Christ and the Bradley Foundation.
Formerly a director of the following: Storage
Technology Corporation (a publicly- held computer
equipment company) (1991-February 2003), and
International Family Entertainment (television
channel) (1992-1997), Frontier Real Estate, Inc.
(residential real estate brokerage) (1994-1999),
and Frontier Title (title insurance agency)
(1995-June 1999); a U.S. Senator (January
1979-January 1991). Oversees 38 portfolios in the
OppenheimerFunds complex.
ROBERT G. AVIS, Formerly, Director and President of A.G. Edwards
Trustee (since 1990) Capital, Inc. (General Partner of private equity
Age: 73 funds) (until February 2001); Chairman, President
and Chief Executive Officer of A.G. Edwards
Capital, Inc. (until March 2000); Vice Chairman
and Director of A.G. Edwards, Inc. and Vice
Chairman of A.G. Edwards & Sons, Inc. (its
brokerage company subsidiary) (until March 1999);
Chairman of A.G. Edwards Trust Company and A.G.E.
Asset Management (investment advisor) (until March
1999); and a Director (until March 2000) of A.G.
Edwards & Sons and A.G. Edwards Trust Company.
Oversees 38 portfolios in the OppenheimerFunds
complex.
GEORGE C. BOWEN, Formerly Assistant Secretary and a director
Trustee (since 1998) (December 1991-April 1999) of Centennial Asset
Age: 67 Management Corporation; President, Treasurer and a
director (June 1989-April 1999) of Centennial
Capital Corporation; Chief Executive Officer and a
director of MultiSource Services, Inc. (March
1996-April 1999). Until April 1999 Mr. Bowen held
several positions in subsidiary or affiliated
companies of the Manager. Oversees 38 portfolios
in the OppenheimerFunds complex.
EDWARD L. CAMERON, A member of The Life Guard of Mount Vernon, George
Trustee (since 2000) Washington's home (since June 2000). Formerly
Age: 65 Director (March 2001-May 2002) of Genetic ID, Inc.
and its subsidiaries (a privately held biotech
company); a partner (July 1974- June 1999) with
PricewaterhouseCoopers LLP (an accounting firm);
and Chairman (July 1994-June 1998) of Price
Waterhouse LLP Global Investment Management
Industry Services Group. Oversees 38 portfolios in
the OppenheimerFunds complex.
JON S. FOSSEL, Director (since February 1998) of Rocky Mountain
Trustee (since 1990) Elk Foundation (a not-for-profit foundation); a
Age: 62 director (since 1997) of Putnam Lovell Finance
(finance company); a director (since June 2002) of
UNUMProvident (an insurance company). Formerly a
director (October 1999-October 2003) of P.R.
Pharmaceuticals (a privately held company);
Chairman and a director (until October 1996) and
President and Chief Executive Officer (until
October 1995) of the Manager; President, Chief
Executive Officer and a director (until October
1995) of
22 | CENTENNIAL MONEY MARKET TRUST
JON S. FOSSEL, Oppenheimer Acquisition Corp., Shareholders
Continued Services Inc. and Shareholder Financial Services,
Inc. Oversees 38 portfolios in the
OppenheimerFunds complex.
SAM FREEDMAN, Director of Colorado Uplift (a non-profit charity)
Trustee (since 1996) (since September 1984). Formerly (until October
Age: 63 1994) Mr. Freedman held several positions in
subsidiary or affiliated companies of the Manager.
Oversees 38 portfolios in the OppenheimerFunds
complex.
BEVERLY L. HAMILTON, Trustee of Monterey International Studies (an
Trustee (since 2002) educational organization) (since February 2000); a
Age: 57 director of The California Endowment (a
philanthropic organization) (since April 2002) and
of Community Hospital of Monterey Peninsula
(educational organization) (since February 2002);
a director of America Funds Emerging Markets
Growth Fund (since October 1991) (an investment
company); an advisor to Credit Suisse First
Boston's Sprout venture capital unit. Mrs.
Hamilton also is a member of the investment
committees of the Rockefeller Foundation and of
the University of Michigan. Formerly, Trustee of
MassMutual Institutional Funds (open-end
investment company) (1996-May 2004); a director of
MML Series Investment Fund (April 1989-May 2004)
and MML Services (April 1987-May 2004) (investment
companies); member of the investment committee
(2000-2003) of Hartford Hospital; an advisor
(2000-2003) to Unilever (Holland)'s pension fund;
and President (February 1991-April 2000) of ARCO
Investment Management Company. Oversees 37
portfolios in the OppenheimerFunds complex.
ROBERT J. MALONE, Chairman, Chief Executive Officer and director of
Trustee (since 2002) Steele Street State Bank (a commercial banking
Age: 59 entity) (since August 2003), Colorado UpLIFT (a
non-profit organization) (since 1986); a trustee
(since 2000) of the Gallagher Family Foundation
(non-profit organization). Formerly a director of
Jones Knowledge, Inc. (a privately held company)
(2001-July 2004), and U.S. Exploration, Inc. (oil
and gas exploration) (1997-February 2004),
Chairman of U.S. Bank-Colorado (a subsidiary of
U.S. Bancorp and formerly Colorado National Bank,)
(July 1996-April 1999) and a director of
Commercial Assets, Inc. (a REIT) (1993-2000).
Oversees 37 portfolios in the OppenheimerFunds
complex.
F. WILLIAM MARSHALL, JR., Trustee of MassMutual Institutional Funds (since
Trustee (since 2000) 1996) and MML Series Investment Fund (since 1987)
Age: 62 (both open-end investment companies) and the
Springfield Library and Museum Association (since
1995) (museums) and the Community Music School of
Springfield (music school) (since 1996); Trustee
(since 1987), Chairman of the Board (since 2003)
and Chairman of the investment committee (since
1994) for the Worcester Polytech Institute
(private university); and President and Treasurer
(since January 1999) of the SIS Fund (a private
not for profit charitable fund). Formerly, member
of the investment committee of the Community
Foundation of Western Massachusetts (1998 - 2003);
Chairman (January 1999-July 1999) of SIS & Family
Bank, F.S.B. (formerly SIS Bank) (commercial
bank); and Executive Vice President (January
1999-July 1999) of Peoples Heritage Financial
Group, Inc. (commercial bank). Oversees 38
portfolios in the OppenheimerFunds complex.
- --------------------------------------------------------------------------------
INTERESTED TRUSTEE THE ADDRESS OF MR. GRABISH IN THE CHART BELOW IS
6803 S. TUCSON WAY, CENTENNIAL, CO 80112-3924. MR.
GRABISH SERVES FOR AN INDEFINITE TERM, UNTIL HIS
RESIGNATION, RETIREMENT, DEATH OR REMOVAL.
RICHARD GRABISH, Senior Vice President, Assistant Director of Sales
Trustee (since 2001) and Marketing (since March 1997), and Manager of
Age: 55 Private Client Services (since June 1985) for A.G.
Edwards & Sons, Inc. (broker/dealer and investment
firm); Chairman and Chief Executive
23 | CENTENNIAL MONEY MARKET TRUST
TRUSTEES AND OFFICERS Unaudited / Continued
- --------------------------------------------------------------------------------
RICHARD GRABISH, Officer (since March 2001) of A.G. Edwards Trust
Continued Company; Director (since March 1988) of A.G.
Edwards & Sons, Inc. Formerly (until March 1987)
President and Vice Chairman of A.G. Edwards Trust
Company. Oversees 6 portfolios in the
OppenheimerFunds complex.
- --------------------------------------------------------------------------------
INTERESTED TRUSTEE THE ADDRESS OF MR. MURPHY IN THE CHART BELOW IS
AND OFFICER TWO WORLD FINANCIAL CENTER, 225 LIBERTY STREET,
NEW YORK, NY 10281-1008. MR. MURPHY SERVES FOR AN
INDEFINITE TERM, UNTIL HIS RESIGNATION, DEATH OR
REMOVAL.
JOHN V. MURPHY, Chairman, Chief Executive Officer and director
President (since 2001) (since June 2001) and President (since September
and Trustee (since 2003) 2000) of the Manager; President and a director or
Age: 55 trustee of other Oppenheimer funds; President and
a director (since July 2001) of Oppenheimer
Acquisition Corp. (the Manager's parent holding
company) and of Oppenheimer Partnership Holdings,
Inc. (a holding company subsidiary of the
Manager); a director (since November 2001) of
OppenheimerFunds Distributor, Inc. (a subsidiary
of the Manager); Chairman and a director (since
July 2001) of Shareholder Services, Inc. and of
Shareholder Financial Services, Inc. (transfer
agent subsidiaries of the Manager); President and
a director (since July 2001) of OppenheimerFunds
Legacy Program (a charitable trust program
established by the Manager); a director of the
following investment advisory subsidiaries of the
Manager: OFI Institutional Asset Management, Inc.,
Centennial Asset Management Corporation, Trinity
Investment Management Corporation and Tremont
Capital Management, Inc. (since November 2001),
HarbourView Asset Management Corporation and OFI
Private Investments, Inc. (since July 2001);
President (since November 1, 2001) and a director
(since July 2001) of Oppenheimer Real Asset
Management, Inc.; Executive Vice President (since
February 1997) of Massachusetts Mutual Life
Insurance Company (the Manager's parent company);
a director (since June 1995) of DLB Acquisition
Corporation (a holding company that owns the
shares of Babson Capital Management LLC); a
member of the Investment Company Institute's Board
of Governors (elected to serve from October 3,
2003 through September 30, 2006). Formerly, Chief
Operating Officer (September 2000-June 2001) of
the Manager; President and trustee (November
1999-November 2001) of MML Series Investment Fund
and MassMutual Institutional Funds (open-end
investment companies); a director (September
1999-August 2000) of C.M. Life Insurance Company;
President, Chief Executive Officer and director
(September 1999-August 2000) of MML Bay State Life
Insurance Company; a director (June 1989-June
1998) of Emerald Isle Bancorp and Hibernia Savings
Bank (a wholly-owned subsidiary of Emerald Isle
Bancorp). Oversees 73 portfolios as
Trustee/Director and 10 portfolios as Officer in
the OppenheimerFunds complex.
- --------------------------------------------------------------------------------
OFFICERS THE ADDRESS OF THE OFFICERS IN THE CHART BELOW IS
AS FOLLOWS: FOR MR. ZACK, TWO WORLD FINANCIAL
CENTER, 225 LIBERTY STREET, 11TH FLOOR, NEW YORK,
NY 10281-1008, FOR MS. WOLF, MR. WIXTED, AND MR.
VANDEHEY, 6803 S. TUCSON WAY, CENTENNIAL, CO
80112-3924. EACH OFFICER SERVES FOR AN ANNUAL TERM
OR UNTIL HIS OR HER EARLIER RESIGNATION, DEATH OR
REMOVAL.
CAROL E. WOLF, Senior Vice President of OppenheimerFunds, Inc.
Vice President (since 1990) (since June 2000) and of HarbourView Asset
Age: 52 Management Corporation (since 6/39/03); an officer
of 6 portfolios in the OppenheimerFunds complex.
Formerly Vice President of OppenheimerFunds, Inc.
(June 1990 - June 2000).
24 | CENTENNIAL MONEY MARKET TRUST
BARRY D. WEISS, Vice President of OppenheimerFunds, Inc. (since
Vice President (since 2001) July 2001) and of HarbourView Asset Management
Age: 40 Corporation (since June 2003); an officer of 6
portfolios in the OppenheimerFunds complex.
Formerly Assistant Vice President and Senior
Credit Analyst of the Manager (February 2000-June
2001). Prior to joining the Manager in February
2000, he was Associate Director, Structured
Finance, Fitch IBCA Inc. (April 1998 - February
2000).
BRIAN W. WIXTED, Senior Vice President and Treasurer (since March
Treasurer (since 1999) 1999) of the Manager; Treasurer of HarbourView
Age: 44 Asset Management Corporation, Shareholder
Financial Services, Inc., Shareholder Services,
Inc., Oppenheimer Real Asset Management
Corporation, and Oppenheimer Partnership Holdings,
Inc. (since March 1999), of OFI Private
Investments, Inc. (since March 2000), of
OppenheimerFunds International Ltd. and
OppenheimerFunds plc (since May 2000), of OFI
Institutional Asset Management, Inc. (since
November 2000), and of OppenheimerFunds Legacy
Program (a Colorado non-profit corporation) (since
June 2003); Treasurer and Chief Financial Officer
(since May 2000) of OFI Trust Company (a trust
company subsidiary of the Manager); Assistant
Treasurer (since March 1999) of Oppenheimer
Acquisition Corp. Formerly Assistant Treasurer of
Centennial Asset Management Corporation (March
1999-October 2003) and OppenheimerFunds Legacy
Program (April 2000-June 2003); Principal and
Chief Operating Officer (March 1995-March 1999) at
Bankers Trust Company-Mutual Fund Services
Division. An officer of 83 portfolios in the
OppenheimerFunds complex.
ROBERT G. ZACK, Executive Vice President (since January 2004) and
Vice President and Secretary General Counsel (since February 2002) of the
(since 2001) Manager; General Counsel and a director (since
Age: 56 November 2001) of the Distributor; General Counsel
(since November 2001) of Centennial Asset
Management Corporation; Senior Vice President and
General Counsel (since November 2001) of
HarbourView Asset Management Corporation;
Secretary and General Counsel (since November
2001) of Oppenheimer Acquisition Corp.; Assistant
Secretary and a director (since October 1997) of
OppenheimerFunds International Ltd. and
OppenheimerFunds plc; Vice President and a
director (since November 2001) of Oppenheimer
Partnership Holdings, Inc.; a director (since
November 2001) of Oppenheimer Real Asset
Management, Inc.; Senior Vice President, General
Counsel and a director (since November 2001) of
Shareholder Financial Services, Inc., Shareholder
Services, Inc., OFI Private Investments, Inc. and
OFI Trust Company; Vice President (since November
2001) of OppenheimerFunds Legacy Program; Senior
Vice President and General Counsel (since November
2001) of OFI Institutional Asset Management, Inc.;
a director (since June 2003) of OppenheimerFunds
(Asia) Limited. Formerly Senior Vice President
(May 1985-December 2003), Acting General Counsel
(November 2001-February 2002) and Associate
General Counsel (May 1981-October 2001) of the
Manager; Assistant Secretary of Shareholder
Services, Inc. (May 1985-November 2001),
Shareholder Financial Services, Inc. (November
1989-November 2001); and OppenheimerFunds
International Ltd. (October 1997-November 2001).
An officer of 83 portfolios in the
OppenheimerFunds complex.
MARK S. VANDEHEY, Senior Vice President and Chief Compliance Officer
Vice President (since 2004) (since March 2004) of the Manager; Vice
Age: 53 President (since June 1983) of OppenheimerFunds
Distributor, Inc., Centennial Asset Management
Corporation and Shareholder Services, Inc.
Formerly (until February 2004) Vice President and
Director of Internal Audit of OppenheimerFunds,
Inc. An officer of 83 portfolios in the
OppenheimerFunds complex.
THE TRUST'S STATEMENT OF ADDITIONAL INFORMATION CONTAINS ADDITIONAL INFORMATION
ABOUT THE TRUST'S TRUSTEES AND IS AVAILABLE WITHOUT CHARGE UPON REQUEST.
25 | CENTENNIAL MONEY MARKET TRUST
ITEM 2. CODE OF ETHICS
The registrant has adopted a code of ethics that applies to the
registrant's principal executive officer, principal financial officer, principal
accounting officer or controller or persons performing similar functions.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT
The Board of Trustees of the registrant has determined that Edward L.
Cameron, the Chairman of the Board's Audit Committee, and George C. Bowen, a
member of the Board's Audit Committee, possess the technical attributes
identified in Instruction 2(b) of Item 3 to Form N-CSR to qualify as "audit
committee financial experts," and has designated Messrs. Cameron and Bowen as
the Audit Committee's financial experts. Messrs. Cameron and Bowen are
"independent" Trustees pursuant to paragraph (a)(2) of Item 3 to Form N-CSR.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES
(a) Audit Fees
The principal accountant for the audit of the registrant's annual
financial statements billed $55,000 in fiscal 2004 and $52,700 in
fiscal 2003.
(b) Audit-Related Fees
The principal accountant for the audit of the registrant's annual
financial statements billed no such fees to the registrant during
the last two fiscal years.
The principal accountant for the audit of the registrant's annual
financial statements billed $5,525 in fiscal 2004 and $45,744 in
fiscal 2003 to the registrant's investment adviser or any entity
controlling, controlled by, or under common control with the
adviser that provides ongoing services to the registrant.
Such fees would include, among others: due diligence related to
mergers and acquisitions, accounting consultations and audits in
connection with acquisitions, internal control reviews and
consultation concerning financial accounting and reporting
standards.
(c) Tax Fees
The principal accountant for the audit of the registrant's annual
financial statements billed no such fees to the registrant during
the last two fiscal years.
The principal accountant for the audit of the registrant's annual
financial statements billed $0 in fiscal 2004 and $7,370 in fiscal
2003 to the registrant's investment adviser or any entity
controlling, controlled by, or under common control with the
adviser that provides ongoing services to the registrant.
Such fees would include, among others: tax compliance, tax
planning and tax advice. Tax compliance generally involves
preparation of original and amended tax returns, claims for a
refund and tax payment-planning services. Tax planning and tax
advice includes assistance with tax audits and appeals, tax advice
related to mergers and acquisitions and requests for rulings or
technical advice from taxing authorities.
(d) All Other Fees
The principal accountant for the audit of the registrant's annual
financial statements billed no such fees to the registrant during
the last two fiscal years.
The principal accountant for the audit of the registrant's annual
financial statements billed $0 in fiscal 2004 and $3,500 in fiscal
2003 to the registrant's investment adviser or any entity
controlling, controlled by, or under common control with the
adviser that provides ongoing services to the registrant.
Such fees would include services provided to the registrant's
Board of Trustees with respect to the annual renewal of the
registrant's investment advisory agreement.
(e) (1) During its regularly scheduled periodic meetings, the
registrant's audit committee will pre-approve all audit,
audit-related, tax and other services to be provided by the
principal accountants of the registrant.
The audit committee has delegated pre-approval authority to its
Chairman for any subsequent new engagements that arise between
regularly scheduled meeting dates provided that any fees such
pre-approved are presented to the audit committee at its next
regularly scheduled meeting.
Pre-approval of non-audit services is waived provided that: 1) the
aggregate amount of all such services provided constitutes no more
than five percent of the total amount of fees paid by the
registrant to it principal accountant during the fiscal year in
which services are provided 2) such services were not recognized
by the registrant at the time of engagement as non-audit services
and 3) such services are promptly brought to the attention of the
audit committee of the registrant and approved prior to the
completion of the audit.
(2) 100%
(f) Not applicable as less than 50%.
(g) The principal accountant for the audit of the registrant's annual
financial statements billed $5,525 in fiscal 2004 and $56,614 in
fiscal 2003 to the registrant and the registrant's investment
adviser or any entity controlling, controlled by, or under common
control with the adviser that provides ongoing services to the
registrant related to non-audit fees. Those billings did not
include any prohibited non-audit services as defined by the
Securities Exchange Act of 1934.
(h) The registrant's audit committee of the board of trustees has
considered whether the provision of non-audit services that were
rendered to the registrant's investment adviser, and any entity
controlling, controlled by, or under common control with the
investment adviser that provides ongoing services to the
registrant that were not pre-approved pursuant to paragraph
(c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with
maintaining the principal account's independence. No such services
were rendered.
ITEM 5. NOT APPLICABLE
ITEM 6. SCHEDULE OF INVESTMENTS
Not applicable
ITEM 7. NOT APPLICABLE
ITEM 8. NOT APPLICABLE
ITEM 9. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
The Board is responsible for approving nominees for election as
trustees. To assist in this task, the Board has designated the Audit Committee
as the nominating committee for the Board. It reviews and recommends nominees to
the Board. The Committee is comprised entirely of disinterested trustees as
defined in Section 2(a)(19) of the Investment Company Act of 1940.
The Audit Committee charter describes the responsibilities of the Committee in
nominating candidates for election as independent Trustees of the Registrant.
The Registrant's Board has adopted a written charter for the Committee. A
current copy of the Audit Committee charter is available to shareholders on the
OppenheimerFunds website at www.oppenheimerfunds.com.
Under the current policy, if the Board determines that a vacancy exists or is
likely to exist on the Board, the Audit Committee of the Board will consider
candidates for Board membership including recommended by Registrant
shareholders. The Audit Committee will consider nominees recommended by
independent Board members or recommended by any other Board members including
Board members affiliated with the Registrant's investment advisors. The
Committee may, upon Board approval, retain an executive search firm to assist in
screening potential candidates. Upon Board approval, the Audit Committee may
also use the services of legal, financial, or other external counsel that it
deems necessary or desirable in the screening process. Shareholders wishing to
submit a nominee for election to the Board may do so by mailing their submission
to the offices of OppenheimerFunds, Inc., 6803 South Tucson Way, Centennial, CO
80112, to the attention of the Board of Trustees of the named Registrant, c/o
the Secretary of the Registrant.
The Committee's process for identifying and evaluating nominees for trustees
includes a number of factors. In screening candidates for board membership,
whether the candidate is suggested by Board members, shareholders or others, the
Committee considers the candidate's professional experience, soundness of
judgment, integrity, ability to make independent, analytical inquiries,
collegiality, willingness and ability to devote the time required to perform
Board activities adequately, ability to represent the interests of all
shareholders of the Registrant, and diversity relative to the board's
composition. Candidates are expected to provide a mix of attributes, experience,
perspective and skills necessary to effectively advance the interests of
shareholders.
ITEM 10. CONTROLS AND PROCEDURES
(a) Based on their evaluation of registrant's disclosure controls and
procedures (as defined in rule 30a-2(c) under the Investment
Company Act of 1940 (17 CFR 270.30a-2(c)) as of June 30, 2004,
registrant's principal executive officer and principal financial
officer found registrant's disclosure controls and procedures to
provide reasonable assurances that information required to be
disclosed by registrant in the reports that it files under the
Securities Exchange Act of 1934 (a) is accumulated and
communicated to registrant's management, including its principal
executive officer and principal financial officer, to allow timely
decisions regarding required disclosure, and (b) is recorded,
processed, summarized and reported, within the time periods
specified in the rules and forms adopted by the U.S. Securities
and Exchange Commission.
(b) There have been no significant changes in registrant's internal
controls over financial reporting that occurred during the
registrant's last fiscal half-year that has materially affected,
or is reasonably likely to materially affect, the registrant's
internal control over financial reporting.
ITEM 11. EXHIBITS.
(A) EXHIBIT ATTACHED HERETO. (ATTACH CODE OF ETHICS AS EXHIBIT)
(B) EXHIBITS ATTACHED HERETO. (ATTACH CERTIFICATIONS AS EXHIBITS)