OppenheimerFunds, Inc. Strengthens Equity Investments Area

Mani Govil Hired as Team Leader for "Main Street" Team

NEW YORK, May 19 /PRNewswire/ -- OppenheimerFunds, Inc. (OFI) announced today
that Manind ("Mani") Govil has been named Team Leader and Portfolio Manager of
the Main Street equity team, effective today. He will be joined by several
colleagues consisting of portfolio managers, fundamental analysts and a trader
from his previous employer, RS Investment Management Co. LLC. The new
12-person team will apply their time-tested approach, which combines
fundamental security analysis with robust quantitative tools, to the three
Oppenheimer Main Street funds: Oppenheimer Main Street Fund (Nasdaq: MSIGX),
Oppenheimer Main Street Opportunity Fund (Nasdaq: OMSOX), and Oppenheimer Main
Street Small-Cap Fund (Nasdaq: OPMSX), as well as their related accounts.

"Mani has an established track record of investment excellence and more than
15 years of experience managing core equity products through up and down
markets," said Chris Leavy, CIO of Equities at OppenheimerFunds. "This
furthers OppenheimerFunds' efforts to strengthen and deepen our investment
teams and we are excited to have Mani and his team join us."

Mr. Govil, one of the "20 rising stars" of 2008, according to Institutional
Investor, most recently worked at RS Investment Management Co. LLC, where from
August 2005 through March 2009, he was the lead portfolio manager for the RS
Large Cap Alpha Fund, formerly the RS Core Equity Fund. Earlier in his career,
he served as lead manager for large-cap equities, co-head of equities and head
of equity research at Mercantile Capital Advisers, Inc., where he managed the
Mercantile Growth & Income Fund from April 1996 through July 2005. He will
serve as lead portfolio manager of Oppenheimer Main Street Fund (Nasdaq:
MSIGX) and Oppenheimer Main Street Opportunity Fund (Nasdaq: OMSOX).

Joining Mr. Govil are several seasoned professionals, including:
-- Benjamin Ram -- will co-manage Oppenheimer Main Street Fund (Nasdaq:
MSIGX) with Mr. Govil
-- Anthony Gennaro -- will co-manage Oppenheimer Main Street Opportunity
Fund (Nasdaq: OMSOX) with Mr. Govil
-- Matthew Ziehl -- will be lead portfolio manager of Oppenheimer Main
Street Small-Cap Fund (Nasdaq: OPMSX)

-- Raman Vardharaj -- will co-manage Oppenheimer Main Street Small-Cap
Fund
(Nasdaq: OPMSX)

In their previous roles, Mr. Ram and Mr. Gennaro managed institutional mid-cap
strategies; Mr. Ziehl managed the RS Small Cap Core Fund; and Mr. Vardharaj
led the team's quantitative analysis efforts.

In addition to the portfolio managers, who will also serve as analysts, five
seasoned fundamental analysts, one quantitative analyst and a trader are also
joining the Main Street team.

"OppenheimerFunds is one of the best-recognized brand names in the industry
and their distribution and sales force is top-notch," said Mr. Govil. "I look
forward to the opportunity this new role presents and am pleased to continue
working with the talented team we built over the last several years."

About OppenheimerFunds, Inc.
OppenheimerFunds, Inc. is one of the nation's largest and most respected
investment management companies. The Oppenheimer funds managed by
OppenheimerFunds, Inc. and a subsidiary have more than 6 million shareholder
accounts.

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.

The products and services of OppenheimerFunds, Inc. and its controlled
affiliates include: mutual funds, qualified retirement plans for individuals
and corporations, investment management for institutions and sub-advisory
services. OppenheimerFunds is widely recognized as a leader in educating and
empowering investors and for its award-winning customer service.

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

Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc., Two
World Financial Center, 225 Liberty Street, 11th Floor, New York, NY 10281.
OppenheimerFunds, Inc. is a member of the MassMutual Financial Group and is
not affiliated with Oppenheimer & Co, Inc. or Oppenheimer Capital.

(C) Copyright 2009 OppenheimerFunds Distributor, Inc. All rights reserved.

SOURCE OppenheimerFunds, Inc.

Jeaneen Pisarra, +1-212-323-5178; or Andrew Healy, +1-212-323-0325, both of
OppenheimerFunds, Inc.