OppenheimerFunds, Inc. announced today that it was reclosing the Oppenheimer Enterprise Fund effective at the close of business today, July 1. In a supplement to the prospectus dated June 3, 1999, it was announced that once the fund reached $500 million in assets, it would close to new investors. The fund was previously closed on March 29, 1996, and reopened on June 9, 1997.

While the company said that it would open no new accounts after July 1, it will continue to accept investments of up to $5,000 per month from investors who owned shares of the fund before July 1.

"Our primary responsibility is to do the best job possible for the people who are already invested in the fund," said Jay Tracey, vice president and portfolio manager of the Enterprise Fund. "Based on the disciplined, research-intensive approach to management we follow, we believe that closing the Fund now is in the best interests of our existing shareholders because it provides the highest probability of maintaining the Fund's investment success. Should market circumstances and opportunities change to allow it, we would consider re-opening the Fund to new accounts in the future." 

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