U.S. SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                           FORM 24F-2
                Annual Notice of Securities Sold
                     Pursuant to Rule 24f-2

1.     Name and address of issuer:  Putnam Europe Growth
       
       One Post Office Square
       Boston, Massachusetts  02109

2.     The name of each series or class of securities for which
       this Form is filed (if the Form is being filed for all
       series and classes of securities of the issuer, check the
       box but do not list series or classes): [ X ]

3.     Investment Company Act File Number:          811-5693
       Securities Act File Number:                  33-25658
       
4(a).  Last day of fiscal year for which this Form is filed:
       06/30/98


4(b).  [   ]   Check box if this Form is being filed late (i.e.,
more than 90 calendar days after the end of the
               issuer's fiscal year).  (See Instruction A.2)

       Note:  If the Form is being filed late, interest must be
       paid on the registration fee due.

4(c).  [   ]Check box if this is the last time the issuer will
       be filing this Form.

5.     Calculation of registration fee:

(i)   Aggregate sale price of securities sold                    
      during the fiscal year pursuant to section                 
      24(f):                                       $1,721,295,598
                                                                 
(ii)  Aggregate price of securities redeemed or                  
      repurchased during the fiscal year:          $1,057,576,339
                                                                 
(iii) Aggregate price of securities redeemed or                  
      repurchased during any prior fiscal year                   
      ending no earlier than October 11, 1995                    
      that were not previously used to reduce                    
      registration fees payable to the                           
      Commission:                                              $0
                                                                 
(iv)  Total available redemption credits [add                    
      Items 5(ii) and 5(iii):                      $1,057,576,339
                                                                 
(v)   Net sales - if Item 5(i) is greater than                   
      Item 5(iv) [subtract Item 5(iv) from Item                  
      5(i)]:                                         $663,719,259
                                                                 
(vi)  Redemption credits available for use in                    
      future years - if Item 5(i) is less than                   
      Item 5 (iv) [subtract Item 5 (iv) from                     
      Item 5 (i)]:                                             $0
                                                                 
(vii) Multiplier for determining registration                    
      fee                                                        
     (see Instruction C.9):                               .000295
                                                                 
                                                                 
                                                                 
                                                                 
(viii)Registration fee due [multiply Item 5(v)                   
      by Item 5(vii)] (enter 0 if no fee is                      
      due):                                           $195,797.18


6.     Prepaid Shares

       If the response to Item 5(i) was determined by deducting
       an amount of securities that were registered under the
       Securities Act of 1933 pursuant to rule 24e-2 as in
       effect before October 11, 1997, then report the amount of
       securities (number of shares or other units) deducted
       here:

       If there is a number of shares or other units that were
       registered pursuant to rule 24e-2 remaining unsold at the
       end of the fiscal year for which this form is filed that
       are available for use by the issuer in future years, then
       state that number here:

7.     Interest due - if this Form is being filed more than 90
       days after the end of the issuer's fiscal year (see
       Instruction D):

       +$-

8.     Total of the amount of the registration fee due plus any
       interest due [line 5(viii) plus line 7]:

       =$195,797.18

9.     Date the registration fee and any interest payment was
       sent to the Commission's lockbox depository:


       Method of Delivery:

               [x]  Wire Transfer (CIK)0000842940
               [   ]     Mail or other means
                                
                                
                                
                            SIGNATURE

This report has been signed below by the following person on
behalf of the issuer and in the capacity and on the date
indicated.

By (Signature and Title)      /s/Paul Bucuvalas
                              ___________________________________
                              Paul Bucuvalas
                              Managing Director
                               Custody Services

Date:  9/21/98