OPPENHEIMER TREMONT OPPORTUNITY FUND, LLC
                           Supplement dated April 8, 2005 to the
                               Prospectus dated July 30, 2004

The Prospectus is changed as follows:  The section captioned "Management Team" on page 42
under the heading " HOW THE FUND IS MANAGED" is deleted in its entirety and replaced with
the following:

Portfolio Manager.  The portfolio manager of the Fund is Timothy J. Birney, who is
primarily responsible for selecting the Fund's investments in Portfolio Funds and
allocating the Fund's assets among the Portfolio Funds selected.  Mr. Birney has been Vice
President and Portfolio Manager of the Investment Manager since November 2003.  From May
2002 through November 2003, Mr. Birney served as Vice President at Asset Alliance
Corporation, where his responsibilities included the development and distribution of
structured products and quantitative allocation and risk management models.  From March
1998 through May 2002, Mr. Birney served as Vice President and Research Portfolio Manager
of Alternative Asset Management at Nikko Securities Co. International, Inc.  He also worked
as a Research Associate at Yamaichi International (America) from April 1996 through March
1998 and as a Foreign Exchange Trader with Credit Suisse in New York from April 1995 until
April 1996.

April 8, 2005                                                 PS0372.007