PUTNAM INCOME FUND
Prospectus supplement dated January 13, 1997,
to prospectuses dated March 1, 1996
The third paragraph under the heading "How the funds are 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)
------- -------------------------
D. William Kohli 1994 Employed as an investment
Managing Director professional by Putnam
Management since September,
1994. Prior to September,
1994, Mr. Kohli was Executive
Vice President, and Co-Director
of Global Bond Management and,
prior to October, 1993, Senior
Portfolio Manager, at Franklin
Advisors/Templeton Investment
Counsel.
Robert M. Paine 1997 Employed as an investment
Senior Vice President professional by Putnam
Management since 1987.
Kenneth J. Taubes 1993 Employed as an investment
Senior Vice President professional by Putnam
Management since 1991.
Rosemary H. Thomsen 1993 Employed as an investment
Senior Vice President professional by Putnam
Management since 1986.
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