57643 12/99
Prospectus Supplement
dated December 6, 1999 to:
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Putnam International New Opportunities Fund (the "fund")
Prospectuses dated January 30, 1999
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.
Manager Since Experience
Robert Swift 1996 Employed by Putnam Management since
Managing Director 1995. Prior to August 1995, Mr. Swift
was employed at IAI International/Hill
Samuel Investment Advisors.
Stephen Dexter 1999 Employed by Putnam Management since
Senior Vice President 1999. Prior to June 1999, Mr. Dexter
was employed at Scudder Kemper
Investments.
Carmel Peters 1999 Employed by Putnam Management since
Senior Vice President 1997. Prior to 1997, Ms. Peters was
employed at Wheelock Natwest Investment
Management. Prior to February 1996,
Ms. Peters was employed at Rothschild
Asset Management Asia Pacific.
Jack P. Chang 1997 Employed by Putnam Management since
Vice President 1997. Prior to July 1997, Mr. Chang
was employed at Columbia Management.
