Prospectus Supplement 40670 2/98
dated February 9, 1998 to:
_________________________________________________________________
Putnam Voyager Fund (the "fund")
Prospectuses dated November 30, 1997
In the section "How the fund is managed," the chart indicating
the officers of Putnam Investment Management, Inc. ("Putnam
Management") that have primary responsibility for the day-to-day
management of the fund is replaced with the following:
Business experience
Year (at least 5 years)
------- -------------------------
Robert R. Beck 1995 Employed as an investment
Senior Vice President professional by Putnam
Management since 1989.
Roland W. Gillis 1995 Employed as an investment
Senior Vice President professional by Putnam
Management since March, 1995.
Prior to March, 1995, Mr.
Gillis was a Senior Vice President
of Keystone Custodian Funds, Inc.
Michael P. Stack 1997 Employed as an investment
Senior Vice President professional by Putnam
Management since November,
1997. Prior to November,
1997, Mr. Stack was
employed as a Senior Vice
President and Portfolio
Manager by Independence
Investment Associates, Inc.
Charles H. Swanberg 1994 Employed as an investment
Senior Vice President professional by Putnam
Management since 1984.
Michael E. Nance 1998 Employed as an investment
Vice President professional by Putnam
Management since June,
1994. Prior to June,
1994, Mr. Nance attended the
University of Chicago Graduate
School of Business.
