PUTNAM CAPITAL MANAGER TRUST
Prospectus Supplement dated March 6, 1995
to Prospectus dated
May 1, 1994, as revised January 1, 1995
Jennifer E. Leichter, Senior Vice President of Putnam Investment
Management, Inc. ("Putnam Management"), Mark Turner, Managing
Director of Putnam Management, D. William Kohli, Senior Vice
President of Putnam Management, Neil J. Powers, Vice President of
Putnam Management, and Mark J. Siegel, Vice President of Putnam
Management, each a Vice President of the Trust, have had primary
responsibility for the day-to-day management of PCM Diversified
Income Fund's portfolio since September, 1993, July, 1994,
September, 1994, September, 1994, and November, 1994, respectively.
Ms. Leichter and Mr. Powers have been employed by Putnam Management
since 1987 and 1986, respectively. Mr. Turner has been employed by
Putnam Management since November, 1992. Prior to November, 1992,
Mr. Turner was Managing Director of Scudder, Stevens & Clark, Inc.
Mr. Kohli has been employed 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. Mr. Siegel has been
employed by Putnam Management since June, 1993. Prior to June,
1993, Mr. Siegel was Vice President of Salomon Brothers
International Ltd.
