65934 10/00
Prospectus Supplement
dated October 9, 2000 to:
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PUTNAM GROWTH FUND
PUTNAM U.S. CORE FUND
PUTNAM VALUE FUND
to Prospectus dated August 30, 2000
The third paragraph under the heading "Who manages the funds?" is replaced
with the following for Putnam Growth Fund and Putnam U.S. Core Fund:
The following officers of Putnam Management have had primary responsibility
for the day-to-day management of the indicated fund's portfolio since the
years shown below. Their experience as portfolio managers or investment
analysts over at least the last five years is also shown.
Putnam Growth Fund
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Manager Since Experience
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Jeffrey Lindsey 1998 1994 - Present Putnam Management
Managing Director
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David Santos 1999 1986 - Present Putnam Management
Senior Vice President
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Anthony R. Sellitto, III 2000 Sept. 2000 - Present Putnam Management
Senior Vice President Prior to Sept. 2000 Berger Associates
Prior to January 1998 Crestone Capital
Management
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Putnam U.S. Core Fund
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Manager Since Experience
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Robert R. Beck 1998 1989 - Present Putnam Management
Managing Director
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Paul Warren 2000 May 1997 - Present Putnam Management
Managing Director Prior to May 1997 IDS Fund Management
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Paul E. Marrkand 1999 1987 - Present Putnam Management
Senior Vice President
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Michael P. Stack 1998 1997 - Present Putnam Management
Senior Vice President Prior to Nov.1997 Independence Investment
Associates Inc.
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