Install
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Copy the esp file into Oblivion/Data
Activate the esp file in the Oblivion Launcher Data Files

Info
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Most NPC enemies no longer always level up with the player, they either stay at their own level or they level up to a limit.
The Monsters and Daedra now will be randomly spawned e.g The player is at level 2 but may be attacked by a Gloom Wraith.
Most of the loot is no longer tailored to the player's level. The loot will also randomly spawn.