PUTNAM CAPITAL MANAGER TRUST
Prospectus Supplement dated March 6, 1995
to Prospectus dated
May 1, 1994, as revised February 15, 1995
Effective April, 1995, Roland W. Gillis, Robert R. Beck and
Charles H. Swanberg, each a Senior Vice President of Putnam
Management and Vice President of the Trust, will have primary
responsibility for the day-to-day management of PCM Voyager
Fund's portfolio. Mr. Gillis, who will assume this
responsibility in April, was employed by Putnam Management in
1995 and was previously Vice President of Keystone Custodian
Funds, Inc. Mr. Beck, who assumed this reponsibility earlier in
1995, and Mr. Swanberg, who assumed this responsibility in 1994,
have been employed by Putnam Management since 1989 and 1984,
respectively.
