Prospectus Supplement 43756 6/98
dated June 5, 1998 to:
_________________________________________________________________
Putnam International Growth Fund (the "fund")
Prospectuses dated October 30, 1997
The seventh paragraph under the heading "How the fund pursues its
objective --Foreign investments" is replaced in its entirety with
the following:
Certain of the foregoing risks may also apply to some extent to
securities of U.S. issuers that are denominated in foreign
currencies or that are traded in foreign markets, or to
securities of U.S. issuers having significant foreign operations.
