41377 3/98
Prospectus Supplement
dated March 9, 1998 to:
- -----------------------------------------------------------------
Putnam Diversified Equity Trust
Prospectus dated June 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 L. King 1994 Employed as an investment
Managing Director professional by Putnam
Management since 1983.
Charles H. Swanberg 1994 Employed as an investment
Senior Vice President professional by Putnam
Management since 1984.
Paul Warren 1997 Employed as an investment
Senior Vice President professional by Putnam
Management since August, 1997.
Prior to May, 1997, Mr. Warren
was a Director at IDS Fund
Management, and prior to
August, 1994, was a Director
at Pilgrim Baxter Associates.
Prior to March, 1994, Mr.
Warren was a Director at
Prudential Asia, and prior to
February, 1993, was a Director
at Rothschild Asset
Management.
