OppenheimerFunds, Inc. More than $235 billion in assets under management as of 12/31/06 Formed in 1960 Based in New York Oppenheimer has been serving the investment needs of financial advisers and their clients since 1960. Oppenheimer is one of the largest and most respected mutual fund managers in the United States with more than $235 billion in assets under management, including subsidiaries and controlled affiliates in more than 6 million shareholder accounts as of 12/31/06. Building on more than four decades of investment experience, Oppenheimer combines discipline, individual accountability and collective insight to help investors achieve their financial goals. Oppenheimer believes that in order for investors to reach their financial goals, their investments must perform. That is why superior investment performance over the long term is their highest priority. An emphasis on performance is only the beginning of what investors can expect. More than 40 years of successful mutual fund investing has taught Oppenheimer that investment success results from a commitment to several basic principles, including: superior long-term performance; managers that adhere to their stated investment objective and policies; a collaborative approach to investment management; and actively managing risk. Bios Christopher Leavy, CFA Senior Vice President Mr. Leavy has over 11 years experience as an investment professional, including 2 years with Oppenheimer. Angelo Manioudakis Senior Vice President Mr. Manioudakis has over 11 years experience as an investment professional. Emmanuel Ferreira Vice President Mr.Ferreira has over 7 years experience as an investment professional. Nikolaos D. Monoyios, CFA Vice President Mr. Monoyois has over 20 years of experience as an invesmtin professional, including 4 years with Oppenheimer. Rajeev Bhaman, CFA Vice President Mr. Bhaman has over 13 years of experience as an investment professional, including 6 years with Oppenheimer. Marc Reinganum, Ph.D Vice President Mr. Reinganum has over 13 years of investment-related experience, including over 1 year with Oppenheimer. Prior to joining Oppenheimer, Mr. Reinganum worked with Mr. Charles E. Albers, the prior portfolio manager, and Mr. Monoyios for 12 years in a consulting capacity. Justin M. Leverenz, CFA Vice President Mr. Leverenz has been a vice president and senior analyst of Oppenheimer's global fund and international equity team since July 2004. Mr. Leverenz was the head of research for Goldman Sachs in Taiwan and head of Asian technology research pan-Asia from 2002 to 2004. Additionally, he was head of equity research Hong Kong and Taipei from 1993 to 1995 and from 1997 to 2000, respectively, and concurrently was a fund manager at Martin Currie Investment Management in Edinburgh, Scotland from 1995 to 1997. Mr. Leverenz received an MA and a BA from the University of California, San Diego. PL Main Street® Core Objectives and Investments Long-term growth of capital and income through investment in equity securities of large U.S. companies. Benchmark    S&P 500® Index The S&P 500 Index is an index of the stocks of approximately 500 large-capitalization companies traded in U.S. stock markets. Results include reinvested dividends. Investment Style    Large-cap blend Based on information from Morningstar, Inc., 2008. PL Emerging Markets Objectives and Investments Long-term growth of capital through investment in equity securities of companies that are located in countries generally regarded as "emerging market" countries. Benchmark    MSCI Emerging Markets Index The Morgan Stanley Capital International (MSCI) Emerging Markets Index is an index typically made up of stocks from approximately 26 emerging market countries. Results include reinvested dividends. Investment Style    Emerging Markets Based on information from Morningstar, Inc., 2008.

OppenheimerFunds PL Main Street® Core† PL Emerging Markets† OppenheimerFunds Managers Bios Company Profile Select a Manager AlgerAllianceBernsteinClearBridgeGoldman SachsHighlandJanusLazardLoomis SaylesMFSNeuberger BermanNFJOppenheimerFundsPAMPIMCOVan Kampen † These funds are available only through the Portfolio Optimization Funds.