36721 9/97
PUTNAM ASIA PACIFIC GROWTH FUND (the "fund")
Prospectus Supplement dated September 8, 1997
to Prospectus dated January 30, 1997,
as revised July 30, 1997
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)
------- -------------------------
David K. Thomas 1991 Employed as an investment
Senior Vice President professional by Putnam
Management since 1987.
Paul Warren 1997 Employed as an investment
Vice President professional by Putnam
Management since August, 1997.
Prior to May, 1997, Mr. Warren
was a Director at IDS Fund
Management, prior to
August, 1994, Mr. Warren was a
Director at Prudential Asia,
and prior to February, 1993,
was a Director at Rothchild
Asset Management.
