50144 2/99
PROSPECTUS SUPPLEMENT
dated February 8, 1999 to:
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PUTNAM INTERNATIONAL NEW OPPORTUNITIES 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 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 Since Experience
- ---------- ------ ----------------------------
Robert Swift 1996 Employed by Putnam Management
Managing Director since 1995. Prior to August,
1995, Mr. Swift was employed at
IAI International/Hill Samuel
Investment Advisors.
J. Peter Grant 1999 Employed by Putnam Management
Senior Vice President since 1973.
Stephen Oler 1997 Employed by Putnam Management
Senior Vice President since 1997. Prior to June,
1997, Mr. Oler was employed at
Templeton Investments and prior
to
March, 1996, he was employed at
Baring Asset Management Co.
Jack P. Chang 1997 Employed by Putnam Management
Vice President since 1997. Prior to July,
1997, Mr. Chang was employed at
Columbia Management.
