Holzer Holzer & Fistel, LLC Announces That a Shareholder Class Action Has Been Filed on Behalf of Purchasers of

ATLANTA, GA, Jul 30 (MARKET WIRE) --
Holzer Holzer & Fistel, LLC announces that a class action lawsuit has
been filed in the United States District Court for the District of
Colorado on behalf of all persons or entities who purchased Class A,
Class B and/or Class C shares of the Oppenheimer ATM-Free New York
Municipals (the "Fund") (NASDAQ: OPNYX) (NASDAQ: ONYBX) (NASDAQ: ONYCX)
offered by OppenheimerFunds, Inc. ("OppenheimerFunds") between May 21,
2006 and October 21, 2008, inclusive (the "Class Period").

The lawsuit alleges that OppenheimerFunds, along with other defendants,
violated the Securities Act of 1933 by misrepresenting the Fund's
investment strategy. The complaint also alleges that material facts were
omitted from the Registration Statements/Prospectuses issued in connection
with the offerings of these Funds.

If you purchased or held shares of the Fund during the Class Period, you
have the legal right to petition the Court to be appointed a "lead
plaintiff." A lead plaintiff is a representative party that acts on behalf
of other class members in directing the litigation. Any such request must
satisfy certain criteria and be made by August 7, 2009. Any member of the
purported class may move the Court to serve as lead plaintiff through
counsel of their choice, or may choose to do nothing and remain an absent
class member. If you are a Fund investor and would like to discuss a
potential lead plaintiff appointment, or your rights and interests with
respect to the lawsuit, you may contact Corey D. Holzer, Esq., or Marshall
P. Dees, Esq. via email at cholzer@holzerlaw.com, or mdees@holzerlaw.com,
or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates
its practice to vigorous representation of shareholders and investors in
litigation nationwide, including shareholder class action and derivative
litigation. More information about the firm is available through its
website, www.holzerlaw.com and upon request from the firm. Holzer Holzer &
Fistel, LLC has paid for the dissemination of this promotional
communication, and Corey D. Holzer is the attorney responsible for its
content.

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