PUTNAM INTERNATIONAL NEW OPPORTUNITIES FUND
Prospectus Supplement dated June 10, 1996 to
Prospectus dated January 1, 1996
The third paragraph under the heading "How the fund is managed"
on page 16 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:
Year Business experience
---- (at least 5 years)
------ --------------------
Justin M. Scott 1995 Employed as an investment
Managing Director professional by Putnam
Management since 1988.
J. Peter Grant 1996 Employed as an investment
Senior Vice President professional by Putnam
Management since 1973.
25900 6/96
