PUTNAM VARIABLE TRUST (THE "TRUST")
Prospectus Supplement dated June 9, 1997
to Prospectuses dated April 30, 1997
In the section of the prospectus of the Trust entitled "How the
Trust is managed," the chart indicating the officers of Putnam
Investment Management, Inc. ("Putnam Management") that have
primary responsibility for the day-to-day management of Putnam VT
Growth and Income Fund's portfolio is replaced with the
following:
BUSINESS EXPERIENCE
YEAR (AT LEAST 5 YEARS)
---- -----------------------------
PUTNAM VT GROWTH AND
INCOME FUND
Anthony I. Kreisel 1993 Employed as an investment
Managing Director professional by Putnam
Management since 1986.
David L. King 1993 Employed as an investment
Senior Vice President professional by Putnam
Management since 1983.
Sheldon N. Simon 1997 Employed as an investment
Senior Vice President professional by Putnam
Management since 1984.
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