Company Press Release

OppenheimerFunds Enhances Marketing Capabilities with Three Senior Hires

NEW YORK, Oct. 24, 2013 -- OppenheimerFunds has enhanced its capabilities across key marketing disciplines including brand marketing, market planning and strategy, and product development with the addition of three senior hires.  

"As OppenheimerFunds continues to expand into new markets, it is imperative that we bring new active strategies to market, marketing's support of the client engagement model and the infrastructure required to support all of our marketing efforts," said Martha (Marty) Willis, Chief Marketing Officer of OppenheimerFunds. "To accomplish these objectives we are adding considerable strength and depth to an already very talented marketing organization."  

Joining from BlackRock as Senior Vice President, Strategy and Market Planning, is Peter Mintzberg. Peter has held a number of positions during his more than seven years at BlackRock, including the roles of Head of Marketing and Head of Strategy, Latin America and Iberia, and was a senior member of its Global Corporate Strategy Group. Additionally, he co-chaired BlackRock's Regional Operating Committee. Prior to BlackRock, he advised financial institutions globally on corporate strategy and acquisition opportunities as a consultant at McKinsey & Co.  

Stephen Tisdalle joins as Senior Vice President, Brand Marketing. He joins from Ogilvy & Mather, where he served as Managing Director leading Strategic Marketing Services across the agency. Prior to Ogilvy, he held senior leadership roles with Saffron Brand Consultants, IBM Business Consulting and PricewaterhouseCoopers Management Consulting. He has led brand and business transformation for leading brands including BlackRock, IBM, UPS and Goldman Sachs, among others.  

Rupa Athreya joins OppenheimerFunds as Head of Product Development. Previously she served as Head of Strategy for Chase Wealth Management, a unit of JPMorgan Chase. Prior to Chase, she held the position of Head of Product Development for Bloomberg Wealth. She began her career as a consultant at McKinsey & Co. advising financial institutions on strategy, organization and risk management.  

"Our industry is undergoing a major transformation and we have seen a convergence between retail and institutional businesses over the past several years," said Ms. Willis. "OppenheimerFunds is evolving its capabilities to succeed in this changing landscape by bringing innovative new products to market by enhancing the customer experience to better serve the evolving needs of our clients and by leveraging data and analytics to more strategically go to market. In Peter, Stephen and Rupa we have added considerable leadership and talent to help us enhance these capabilities."  

All three new hires are based in New York. Both Mr. Tisdalle and Mr. Mintzberg report to Ms. Willis. Ms. Athreya reports to Lori Heinel, Head of Investment Products.  

About OppenheimerFunds, Inc.

OppenheimerFunds, Inc. (OFI) is one of the largest and most reputable investment management firms in the country. Since the original Oppenheimer fund was first offered to the public in 1959, OFI has demonstrated it is a high conviction asset manager with a history of providing innovative investment strategies to its investors. OFI and its subsidiaries offer a broad array of products and services to individuals, institutional investors and corporations worldwide. OFI provides advisory services to the Oppenheimer mutual funds, and OFI Global Asset Management provides services to institutional clients. OFI, including its subsidiaries, managed more than $222 billion in assets for over 12 million shareholder accounts, including sub-accounts, as of September 30, 2013.  

These views represent the opinions of OppenheimerFunds, Inc. and are not intended as investment advice or to predict or depict performance of any investment. These views are subject to change based on subsequent developments.  

Shares of mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.  

Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fundprospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visitingoppenheimerfunds.com, or calling 1.800.525.7048. Read prospectuses and summary prospectuses carefully before investing.  

Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc. Two World Financial Center, 225 Liberty Street, New York, NY, 10281