PUTNAM CAPITAL MANAGER TRUST
Prospectus Supplement dated November 4, 1996
to Prospectuses dated May 1, 1996
In the section of the prospectus of Putnam Capital Manager Trust
entitled "How the Trust is managed," the chart reflecting the
officers of Putnam Investment Management, Inc. ("Putnam
Management") who have primary responsibility for the day-to-day
management of PCM New Opportunities Fund is replaced with the
following:
Business experience
Year (at least 5 years)
------ -----------------
PCM New
Opportunities Fund
Daniel L. Miller 1994 Employed as an investment
Managing Director professional by Putnam
Management since 1983.
Carol C. McMullen 1996 Employed as an investment
Managing Director professional by Putnam
Management since June, 1995.
Prior to June, 1995, Ms.
McMullen was Senior Vice
President of Baring Asset
Management.
HV-2076 29532 11/96
37302-34 (11-96) 50454
6162-1 46134
