Company Press Release

OppenheimerFunds' Michelle Borré Joins Global Multi-Asset Group

NEW YORK, January 6, 2014 – OppenheimerFunds has announced that portfolio manager Michelle Borré and her team of analysts have joined the Global Multi-Asset Group (GMAG) led by Mark Hamilton, CIO Asset Allocation, effective January 1, 2014.

Ms. Borré joined OppenheimerFunds in 2003 as a senior research analyst on the Value Investment team. She is currently the portfolio manager of Oppenheimer Capital Income Fund and Oppenheimer Flexible Strategies Fund. The fundamental processes of both funds will remain the same. Ms. Borré’s team of three analysts will continue to report directly to her and she will report directly to Mr. Hamilton.

“Ms. Borré and her team will significantly enhance GMAG’s research and portfolio management capabilities with their independent, fundamentally driven investment approach,” said Mr. Hamilton. “In turn, her team will benefit from access to greater resources and personnel as a part of GMAG. Together, the combination will foster continued investment success on behalf of our clients across all of the firm’s multi-asset products and solutions.”

The Global Multi-Asset Group works closely with portfolio managers and research analysts across OppenheimerFunds’ equity, fixed income and alternatives teams to develop and manage innovative portfolio solutions for clients.

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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 $232 billion in assets for over 12 million shareholder accounts, including sub-accounts, as of December 31, 2013.