62342 6/00
Prospectus Supplement
dated June 5, 2000 to:
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PUTNAM EUROPE GROWTH FUND (the "Fund")
to Prospectus dated October 30, 1999
The second paragraph under the heading "Who manages the fund?" is replaced
with the following:
The following officers of Putnam Management have had primary responsibility
for the day-to-day management of the fund's portfolio since the years shown
below. Their experience as portfolio managers or investment analysts over
at least the last five years is also shown.
Manager Since Experience
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Omid Kamshad 1996 1996 - Present Putnam Management
Managing Director Prior to January 1996 Lombard Odier
International
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Joshua L. Byrne
Senior Vice President 2000 1993 - Present Putnam Management
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Nigel P.Hart
Senior Vice President 1998 1997 - Present Putnam Management
Prior to November 1997 IAI International
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Nicholas Melhuish
Vice President 1999 1999 - Present Putnam Management
Prior to August 1999 Schroder Investment
Management
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