PROSPECTUS SUPPLEMENT 61055 5/00
dated May 8, 2000 to:
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Putnam International New Opportunities Fund
Prospectus dated January 30, 2000
1. The section "Distribution (12b-1) plans" is supplemented as follows:
Putnam Mutual Funds has agreed to reduce the class B 12b-1 fee from
1.00% to 0.90%. Payments to dealers are not affected by this reduction.
The table of fees and expenses set forth under the heading "About the
fund - Expenses summary" has not been restated to reflect this
reduction.
2. 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
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Robert Swift
Managing Director 1996 1995-Present Putnam Management
Prior to Aug. 1995 IAI International/Hill
Samuel Investment Advisors
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Stephen Dexter
Senior Vice President 1999 1999-Present Putnam Management
Prior to June 1999 Scudder Kemper Investments
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Carmel Peters
Senior Vice President 1999 1997-Present Putnam Management
Feb. 1996-May 1997 Wheelock Natwest
Investment Management
Prior to Feb. 1996 Rothschild Asset
Management Asia Pacific
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Peter Hadden 2000 1992-Present Putnam Management
Senior Vice President
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