59701 2/00
Prospectus Supplement
dated February 28, 2000 to:
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PUTNAM EQUITY INCOME FUND
PUTNAM GROWTH AND INCOME FUND II
PUTNAM HIGH YIELD ADVANTAGE FUND
PUTNAM INTERMEDIATE U.S. GOVERNMENT INCOME FUND
to the Class A Prospectuses dated March 30, 1999
PUTNAM VOYAGER FUND II
to the Class A Prospectus dated April 30, 1999
PUTNAM CAPITAL APPRECIATION FUND
to the Class A Prospectus dated September 30, 1999
Supplement to sections entitled "How do I buy fund shares," "Fees and
expenses" and "Example":
Effective immediately, an employer-sponsored retirement plan is eligible to
purchase class A shares without an initial sales charge through this
prospectus if it invests at least $1 million in class A shares. A deferred
sales charge of up to 0.75% is applicable only to a plan that redeems 90%
or more of its cumulative purchases within two years of the plan's initial
purchase of class A shares, and only if Putnam Mutual Funds paid a
commission on the plan's purchases. To reflect this potential charge, the
expenses shown in the Example for someone who invests $10,000 and redeems
all shares after one year are increased by $75.
