PUTNAM INVESTORS FUND
Supplement dated April 7, 1994
to Prospectuses dated December 1, 1993
Brooke A. Cobb, Senior Vice President of Putnam Investment
Management, Inc. ("Putnam Management"), Christopher Ainley,
Vice President of Putnam Management, and David Santos, Vice
President of Putnam Management, each of whom is also a Vice
President of the Fund, are primarily responsible for the day-to-
day management of the Fund's portfolio. Mr. Cobb has had this
responsibility since June, 1988, and Messrs. Ainley and Santos
have had this responsibility since April, 1994. Mr. Ainley has
been employed by Putnam Management since March, 1992. Prior to
joining Putnam Management, Mr. Ainley was a Vice President at
J.P. Morgan Investment Management for more than four years.
Messrs. Cobb and Santos have been employed by Putnam Management
for the past five years.
