THE PUTNAM FUND FOR GROWTH AND INCOME
Prospectus Supplement dated June 9, 1997
to Prospectuses dated February 28, 1997
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.
Sheldon N. Simon 1997 Employed as an investment
Senior Vice President professional by Putnam
Management since 1984.
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