11/98 48071
Prospectus Supplement
dated November 9, 1998 to:
PUTNAM DIVERSIFIED INCOME TRUST (THE "FUND")
Prospectuses dated January 30, 1998
The third paragraph under the heading "How the fund is managed"
is replaced with the following:
The following officers of Putnam Investment Management, Inc.
("Putnam Management") have had primary responsibility for the day-
to-day management of the fund's portfolio since the years stated
below:
Business experience
Year (at least 5 years)
----- -------------------------
D. William Kohli 1994 Employed as an investment professional
Managing Director by Putnam Management
since 1994. Prior to
September, 1994, Mr. Kohli was
Executive Vice President and
Co-Director of Global Bond
Management.
Michael Martino 1994 Employed as an investment professional
Managing Director by Putnam Management
since 1994. Prior to January,
1994, Mr. Martino was
Executive Vice President and
Chief Investment Officer of
Back Bay Advisors.
David L. Waldman 1998 Employed as an investment professional
Managing Director by Putnam Management
since 1997. Prior to June
1997, Mr. Waldman was a Senior
Portfolio Manager at Lazard
Freres. Prior to April 1995,
he held various titles at
Goldman Sachs, including
Analyst, Associate, Portfolio
Manager and Vice President.
Jeffrey A. Kaufman 1998 Employed as an investment professional
Senior Vice President by Putnam Management
since 1998. Prior to August
1998, Mr. Kaufman was a Vice
President at MFS Investment
Management. Prior to March
1994, he was an Emerging
Markets Research Consultant at
Salomon Brothers.
Kenneth J. Taubes 1997 Employed as an investment professional
Senior Vice President by Putnam Management since 1991.
