PUTNAM CAPITAL MANAGER TRUST (the "Trust")
Prospectus Supplement dated October 7, 1996
to Prospectuses dated May 1, 1996
In the section of the prospectus of the Trust entitled "How the
Trust is managed," the chart reflecting the primary portfolio
managers of PCM Global Asset Allocation Fund, PCM Global Growth
Fund and PCM High Yield Fund are replaced with the following:
Business experience
Year (at least 5 years)
---- -----------------------------
PCM Global Asset
Allocation Fund
William Kohli 1994 Employed as an investment
Managing Director professional by Putnam
Investment Management, Inc.,
("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, was Senior
Portfolio Manager at Franklin
Advisors/Templeton Investment
Counsel.
Anthony I. Kreisel 1996 Employed as an investment
Managing Director professional by Putnam
Management since 1986.
William J. Landes 1993 Employed as an investment
Managing Director professional by Putnam
Management since 1985.
Richard M. Frucci 1995 Employed as an investment
Senior Vice President professional by Putnam
Management since 1984.
David L. King 1993 Employed as an investment
Senior Vice President professional by Putnam
Management since 1983.
John K. Storkerson 1993 Employed as an investment
Senior Vice President professional by Putnam
Management since 1979.
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Christopher A. Ray 1993 Employed as an investment
Vice President professional by Putnam
Management since December,
1992. Prior to December,
1992, Mr. Ray was Vice
President and Portfolio
Manager at Scudder, Stevens &
Clark, Inc., and, prior to
March, 1992, Mr. Ray was Vice
President of Putnam
Management.
David J. Santos 1995 Employed as an investment
Vice President professional by Putnam
Management since 1986.
PCM Global Growth
Fund
Carol C. McMullen 1995 Employed as an investment
Managing Director professional by Putnam
Management since June, 1995.
Prior to June, 1995, Ms.
McMullen was Senior Vice
President at Baring Asset
Management.
John K. Storkerson 1992 Employed as an investment
Senior Vice President professional by Putnam
Management since 1979.
Robert Swift 1996 Employed as an investment
Senior Vice President professional by Putnam
Management since August,
1995. Prior to August, 1995,
Mr. Swift was Director and
Portfolio Manager at IAI
International/Hill Samuel
Investment Advisors.
Ami Kuan Danoff 1996 Employed as an investment
Vice President professional by Putnam
Management since April, 1993.
Prior to April, 1993, Ms.
Danoff attended the MIT Sloan
School of Management.
PCM High Yield Fund
Jin W. Ho 1996 Employed as an investment
Managing Director professional by Putnam
Management since 1983.
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HV-2043 28310 10/96
37302-33 A (9-96) 50454
VAPRO-10/96S
