65871 10/00
Prospectus Supplement
dated October 9, 2000 to:
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Putnam Utilities Growth and Income Fund (the "fund")
Prospectus dated February 29, 2000
In the section entitled "Who manages the fund?" the second paragraph is
replaced with the following:
The following officers and the Credit Team of Putnam Management have
primary responsibility for the day-to-day management of the fund's
portfolio. Their length of service to the fund and their experience as
portfolio managers or investment analysts over at least the last five years
are shown.
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Manager Since Experience
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Krishna K. Memani 1999 1998 - Present Putnam Management
Managing Director Prior to September 1998 Morgan Stanley & Co.
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Jeanne L. Mockard 1998 1990 - Present Putnam Management
Senior Vice President
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Michael R. Yogg 2000 1997 - Present Putnam Management
Senior Vice President Prior to April 1997 State Street Research
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