THE PUTNAM FUND FOR GROWTH AND INCOME
Prospectus Supplement dated July 15, 1996
to Prospectuses dated March 1, 1996
The third paragraph under the heading "How the fund is managed"
is replaced with the following:
The following officers of Putnam Investment Management, Inc.
("Putnam Management") have had primary responsibility for the
day-to-day management of the fund's portfolio since the years
stated below:
Business experience
Year (at least 5 years)
------- -------------------------
Anthony I. Kreisel 1993 Employed as an investment
Managing Director professional by Putnam
Management since 1986.
David L. King 1993 Employed as an investment
Senior Vice President professional by Putnam
Management since 1983.
Hugh H. Mullin 1996 Employed as an investment
Senior Vice President professional by Putnam
Management since 1986.
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