JANUARY, 2010

Entering 2010, there has been a great deal of reflection on the past decade and anticipation over what to expect for the next ten years. No matter what new challenges may be on the horizon, it is clear that philanthropy will continue to remain an important part of the corporate culture in America. In fact, according to a 2008 poll conducted by the Committee to Encourage Corporate Philanthropy, 100% of CEOs believe that corporate philanthropy is important to creating long-term shareholder value and 94% say their board of directors would agree.

To ensure giving programs remain viable, no matter the market cycle, companies may need to employ different strategies to balance philanthropic and business objectives. Having begun this process five years ago, OppenheimerFunds is already well-positioned to continue to serve our partners effectively and ensure a significant impact in our focus area of youth entrepreneurship and business education.

Our program allows us to team up with experts in this important field, providing financial support to our partners while also raising awareness of the effectiveness of an entrepreneurial curriculum. This past year we were honored to promote Ten9Eight, a documentary film highlighting young competitors as they prepare for the 2008 OppenheimerFunds/NFTE National Youth Entrepreneurship Challenge. This inspirational film features the relevant work of our national partner, NFTE, and provides a forum to inform employees of our charitable activities and ensures our partners have a platform to share their work with a broad audience.

I am pleased to report that even through these challenging times we have maintained all of our philanthropic relationships and remain committed to our mission. As you navigate through our on-line report, you’ll have the opportunity to learn more about our current and future program plans.

We look forward to continuing to build on our strong foundation and to further develop the Program in 2010.

Bill Glavin
Chairman & CEO
OppenheimerFunds, Inc.