PUTNAM DIVERSIFIED INCOME TRUST II
Prospectus Supplement dated April 7, 1997
to Prospectus dated May 17, 1996
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)
------- -------------------------
Gayle S. Attridge 1997 Employed as an investment
Vice President professional by Putnam
Management since 1993. Prior
to November, 1993, Ms.
Attridge was an Analyst at
Keystone Custody
International.
D. William Kohli 1994 Employed as an investment
Managing Director professional by Putnam
Management since 1994.
Prior to September, 1994, Mr.
Kohli was Executive Vice
President and Co-Director of
Global Bond Management and,
prior to October, 1993, Senior
Portfolio Manager at Franklin
Advisors/Templeton Investment
Counsel.
Jennifer E. Leichter 1996 Employed as an investment
Senior Vice President professional by Putnam
Management since 1987.
Michael Martino 1994 Employed as an investment
Managing Director professional by Putnam
Management since 1994. Prior
to January, 1994, Mr. Martino
was employed by Back Bay
Advisors as Executive Vice
President and Chief Investment
Officer.
Kenneth J. Taubes 1997 Employed as an investment
Senior Vice President professional by Putnam
Management since 1991.
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