Prospectus Supplement dated July 21, 1997 to Class A share
Prospectus:
PUTNAM EQUITY INCOME FUND
Prospectus dated March 30, 1997, as revised May 30, 1997
THE GEORGE PUTNAM FUND OF BOSTON
Prospectus dated November 30, 1996, as revised May 30, 1997
PUTNAM NEW VALUE FUND
Prospectus dated December 31, 1996, as revised May 30, 1997
PUTNAM VOYAGER FUND II
Prospectus dated April 30, 1997
Effective April 15, 1997, the prospectus is modified as
follows:
The section of the prospectus entitled "How to buy shares"
is replaced by the following:
All
orders to purchase shares must be made through your
employer's retirement plan. For more information about
how to purchase shares of the fund through your
employer's plan or limitations on the amount that may
be purchased, please consult your employer. Shares are
sold to eligible employer-sponsored retirement plans at
the net asset value per share next determined after
receipt of an order by Putnam Mutual Funds. Orders
must be received by Putnam Mutual Funds before the
close of regular trading on the New York Stock Exchange
in order to receive that day's net asset value. A
class A qualified benefit plan (an employer-sponsored
retirement plan for which Putnam Fiduciary Trust
Company or its affiliates provide recordkeeping or
other services in connection with the purchase of class
A shares) is eligible to purchase fund shares at net
asset value if it initially invests at least $20
million in Putnam funds and other investments managed
by Putnam Management or its affiliates or if its dealer
of record has, with Putnam Mutual Funds' approval,
waived its commission or agreed to refund its
commission to Putnam Mutual Funds in the event the plan
redeems 90% or more of its cumulative purchases within
two years of its initial purchase. An
employer-
sponsored retirement plan, other than a class A
qualified benefit plan, is eligible to purchase fund
shares at net asset value if its investment in class A
shares is at least $1 million, or it has at least 200
eligible employees, and the dealer of record waives its
commission with the consent of Putnam Mutual Funds.
Employer-sponsored retirement plans participating in a
"multi-fund" program approved by Putnam Mutual Funds
may include amounts invested in other mutual funds
participating in such program for purposes of
determining whether the plan may purchase class A
shares at net asset value. Employer-sponsored plans
may make additional investments of any amount at any
time. To eliminate the need for safekeeping, the fund
will not issue certificates for your shares.
As described in the SAI, Putnam Mutual Funds pays the
dealer of record a commission of up to 1% on sales to
class A qualified benefit plans. Putnam Mutual Funds
will from time to time, at its expense, provide
additional promotional incentives or payments to
dealers that sell shares of the Putnam funds. These
incentives or payments may include payments for travel
expenses, including lodging, incurred in connection
with trips taken by invited registered representatives
and their guests to locations within and outside the
United States for meetings or seminars of a business
nature. In some instances, these incentives or
payments may be offered only to certain dealers who
sold or may sell significant amounts of shares.
Certain dealers may not sell all classes of shares.
35725 7/97
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