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Elizabeth Krentzman Appointed to Oppenheimer Funds New York Board

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SOURCE OppenheimerFunds, Inc.

NEW YORK, July 11, 2014 /PRNewswire/ -- The Board of Trustees/Directors of the Oppenheimer Funds designated New York Board ("New York Board" or "Board") is pleased to announce the recent appointment of Elizabeth Krentzman to the Board, effective August 1, 2014. 

Ms. Krentzman recently retired from Deloitte LLP after serving as the firm's U.S. mutual fund leader.  Ms. Krentzman formerly served as the general counsel of the Investment Company Institute (ICI), where she was responsible for legal and regulatory initiatives affecting the Institute's member firms. In addition to representing mutual fund interests before numerous U.S. regulatory agencies and the U.S. Congress, Ms. Krentzman worked closely with foreign regulators and international trade associations to address global issues as U.S. investment managers continue to expand their operations worldwide.

Before joining the ICI, Ms. Krentzman spent seven years at Deloitte & Touche as the leader of the investment management regulatory consulting practice. Prior to that, Ms. Krentzman served as an assistant director in the SEC's Division of Investment Management, where she was responsible for rules involving investment company reporting and disclosure obligations, and investment adviser regulation. Ms. Krentzman developed a number of SEC rules affecting asset management firms and assisted in completing the Division of Investment Management's 1992 report, Protecting Investors: A Half Century of Investment Company Regulation. Prior to joining the SEC, Ms. Krentzman was associated with the law firm Ropes & Gray, where she handled regulatory and compliance matters for investment companies, their advisers and directors.

Ms. Krentzman is a member of the District of Columbia and Florida Bar Associations, and is a former chair of the District of Columbia Bar Investment Management Subcommittee. She received her B.A. and J.D. degrees from the University of Florida and served on the University of Florida Law Review.

"We are very pleased that Ms. Krentzman has agreed to join us," said Brian Wruble, Chairman of the Board. "She is a superbly knowledgeable professional and a delightful person. She will fit right in."

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 $249.2 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of June 30, 2014.

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. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.

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

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