Prospectus Supplement 50586 2/99
dated February 8, 1999 to:
_________________________________________________________________
PUTNAM INTERNATIONAL VOYAGER FUND (the "fund")
Prospectus dated December 30, 1998
The third paragraph under the heading "Who manages the fund?" 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 shown
below. Their experience as portfolio managers or investment
analysts over at least the last five years is also shown:
Manager Year Experience
- --------------- ------- -------------------------
Joseph P. Joseph 1999 Employed by Putnam
Managing Director Management since
1994. Prior to October
1994, Mr. Joseph was
employed by Vert
Independent Capital
Research Inc.
Omid Kamshad 1997 Employed by Putnam
Managing Director Management since
1996. Prior to January
1996, Mr. Kamshad was
employed by Lombard Odier
International, and prior
to April 1995, he was
employed by Baring Asset
Management Company.
Joshua L. Byrne 1997 Employed by Putnam
Senior Vice President Management since 1993.
Nigel P. Hart 1997 Employed by Putnam
Vice President Management since
1997. Prior to November
1997, Mr. Hart was
employed by IAI
International.
