64585 09/00
Prospectus Supplement
dated September 12, 2000 to:
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Putnam Classic Equity Fund
Prospectuses dated March 30, 2000 as revised May 15, 2000
In the section entitled "Who manages the fund?" the second paragraph 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.
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Manager Since Experience
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Deborah Kuenstner 2000 March 1997 -- Present Putnam Management
Managing Director Prior to March 1997 Senior Portfolio
Manager at DuPont
Pension Fund Investment
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Coleman N. Lannum, III 2000 August 1997 -- Present Putnam Management
Senior Vice President Prior to August 1997 Director of Investor
Relations, Mallinckrodt,
Inc.
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