Putnam
Investments
One Post
Office
Square
Boston, MA
02109
December
3, 1999
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
RE: Putnam Investors Fund (Reg. No. 2-10783) (811-
159) (the "Fund") Post-Effective Amendment No.
80 to Registration Statement on Form N-1A
Ladies and Gentlemen:
Pursuant to Rule 497(j) under the Securities Act
of 1933, as amended, the Fund hereby certifies that
the form of Prospectus and Statement of Additional
Information that would have been filed on behalf of
the Fund pursuant to Rule 497(c) upon the
effectiveness of Post-Effective Amendment No. 80 to
the Fund's Registration Statement on Form N-1A (the
"Amendment") would not have differed from that
contained in the Amendment, which is the most recent
amendment to such Registration Statement and was
filed electronically on November 24, 1999.
Comments or questions concerning this certificate may
be
directed to Kathy Moynihan at 1-800-225-2465, ext.
11796.
Very truly yours,
Putnam Investors Fund
/s/ Gordon H. Silver
By:
_______________________________________
Gordon H. Silver
Vice President
cc: Will Shields, Esq.
