PUTNAM DIVERSIFIED INCOME TRUST
Prospectus Supplement dated April 28, 1997
to Prospectus dated January 30, 1997
The fifth paragraph of the section of the Prospectus entitled
"Distribution Plans - Class B and class M distribution plans" is
replaced with the following:
Putnam Mutual Funds also pays to dealers, as additional
compensation with respect to the sale of class M shares, 0.15% of
such average net asset value of class M shares. For class M
shares, the total annual payment to dealers equals 0.40% of such
average net asset value.
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