Oppenheimer Small & Mid Cap Value A (QVSCX)

Fund Fact Sheet 12-31-09 09-30-09 06-30-2009 03-31-2009 Prospectus Fact Sheet Explanation

Fund Summary The investment seeks capital appreciation. The fund invests mainly in stocks of U.S. issuers having a market capitalization up to $13 billion. That includes both small cap stocks (stocks of issuers that have a market capitalization under $3 billion) and mid cap stocks (stocks of issuers having a capitalization between $3 billion and $13 billion).It invest at least 80% of net assets (plus the amount of any borrowings for investment purposes) in equity securities of small-cap and mid-cap domestic and foreign issuers.

Fund Management John Damian, Lead Manager since 10-Oct-01
Damian has been portfolio manager and a senior vice president of OppenheimerFunds Inc. since February 2004. Before joining Oppenheimer in September 2001, he was a senior analyst at Citigroup Asset Management from November 1999 through September 2001. Prior to that, from October 1997 through November 1999, Damian was a senior research analyst at Pzena Investment Management.