PUTNAM CAPITAL MANAGER TRUST
Prospectus Supplement dated January 8, 1996 to
Prospectuses dated May 1, 1995
On January 5, 1996, the Trustees approved a proposal to change
the fees payable to Putnam Investment Management, Inc. ("Putnam
Management"), under the Management Contract for PCM Utilities
Growth and Income Fund (the "Fund") that would result in an
increase in fees paid by the Fund to Putnam Management based upon
the net assets of the Fund at December 31, 1995. The fees for
the other funds of Putnam Capital Manager Trust will remain
unchanged.
The proposed change is subject to shareholder approval, and will
be submitted to shareholders at a meeting scheduled for July 11,
1996. If approved at the meeting, management fees for the Fund
would thereafter be paid at the following annual rates: 0.70% of
the first $500 million of average net assets, 0.60% of the next
$500 million, 0.55% of the next $500 million, 0.50% of the next
$5 billion, 0.475% of the next $5 billion, 0.455% of the next $5
billion, 0.44% of the next $5 billion, and 0.43% of any excess
thereafter.
HV-2022 22717 1/96
