38651 11/97
PUTNAM INTERNATIONAL FUND
Prospectus Supplement dated November 12, 1997
to Prospectus dated December 31, 1996
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 for Putnam International Fund:
BUSINESS EXPERIENCE
YEAR (AT LEAST 5 YEARS)
------- -------------------------
Putnam International Fund
Justin M. Scott 1995 Employed as an investment
Managing Director professional by Putnam
Management since 1988.
Seung H. Minn 1997 Employed as an investment
Vice President professional by Putnam
Management since June, 1995.
Prior to June, 1995, Mr. Minn
was a Vice President and
Portfolio Manager at Templeton
Quantitative Advisors, and
prior to 1993, was a
Senior Quantitative Analyst at
DIAS Group, Inc.
