24F-2NT

             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 International Growth Fund
       One Post Office Square
       Boston, Massachusetts  02109

2.     Name of each series or class of funds for which this
       notice is filed:

       Classes A, B, M, and Y shares.

3.     Investment Company Act File Number:  811-7615
       Securities Act File Number:          33-53135
       
4.     Last day of fiscal year for which this notice is filed:
       June 30, 1997.

5.     Check box if this notice is being filed more than 180
       days after the close of the issuer's fiscal year for the
       purposes of reporting securities sold after the close of
       the fiscal year but before termination of the issuer's
       24f-2 declaration:
                                             [   ]

6.     Date of termination of issuer's declaration under Rule
       24f-2(a)(1), if applicable (see Instruction A.6):

7.     Number and amount of securities of the same class or
       series which have been registered under the Securities
       Act of 1933 other than pursuant to Rule 24f-2 in a prior
       fiscal year, but which remained unsold at the beginning
       of the fiscal year: None


8.     Number and amount of securities registered during the
       fiscal year other than pursuant to Rule 24f-2: None


9.     Number and aggregate sale price of securities sold during
       the fiscal year:
       99,467,822 shares;  $1,545,365,517
10.    Number and aggregate sale price of securities sold during
       the fiscal year in reliance upon registration pursuant to
       Rule 24f-2:
       99,467,822 shares;  $1,545,365,517

11.    Number and aggregate sale price of securities issued
       during the fiscal year in connection with dividend
       reinvestment plans, if applicable (see Instruction B.7):
       470,183 shares;  $6,787,148

12.    Calculation of registration fee:

(i)    Aggregate sale price of securities sold                   
during the fiscal year in reliance on Rule 24f-2   $1,545,365,517
(from Item 10):
                                                                 
(ii)   Aggregate price of shares issued in             $6,787,148
connection with dividend reinvestment plans
(from Item 11, if applicable):
                                                                 
(iii)Aggregate price of shares redeemed or           $685,412,213
repurchased during the fiscal year (if
applicable):
                                                                 
(iv)   Aggregate price of shares redeemed or                 NONE
repurchased and previously applied as a
reduction to filing fees pursuant to Rule 24e-2
(if applicable):
                                                                 
(v)    Net aggregate price of securites sold and     $866,740,452
issued during the fiscal year in reliance on
Rule 24f-2 [line (i), plus line (ii), less line
(iii), plus line (iv)] (if applicable):
                                                                 
(vi)   Multiplier prescribed by Section 6(b) of      1/33rd of 1%
the Securities Act of 1933 or other applicable
law or regulation (see Instruction C.6):
                                                                 
(vii)Fee due [line (i) or line (v) multiplied by     $262,648,.63
line (vi)]:

13.    Check box if fees are being remitted to the Commission's
       lockbox depository as described in section 3a of the
       Commission's Rules of Informal and Other Procedures
       (17 CFR 202.3a).
                                             [ X ]
Date of mailing or wire transfer of filing fees to the
Commission's lockbox depository: August , 1997.

                           SIGNATURES

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)
                              ___________________________________
                              John D. Hughes
                              Senior Vice President and Treasurer

Date:

EX-99

                          ROPES & GRAY
                     ONE INTERNATIONAL PLACE
                BOSTON, MASSACHUSETTS 02110-2624
                         (617) 951-7000
                                
                         August 21, 1997
                                
                                
Putnam International Growth Fund
One Post Office Square
Boston, Massachusetts 02109

Ladies and Gentlemen:

     We are furnishing this opinion in connection with the sale
during the fiscal year ended June 30, 1997 of 99,467,822 shares
of beneficial interest (the "Shares") of Putnam International
Growth Fund (the "Fund").

     We understand that on your books you record as sold Shares
for which orders have been accepted notwithstanding that on the
date of acceptance such Shares may not have been paid for, and
that for purposes of compliance with Rule 24f-2 (the "Rule")
under the Investment Company Act of 1940, as amended, you regard
such Shares as having been sold.

     We have examined copies of (i) your Agreement and
Declaration of Trust as on file at the office of the Secretary of
State of The Commonwealth of Massachusetts, which provides for an
unlimited number of authorized shares of beneficial interest, and
(ii) your Bylaws, which provide for the issue and sale by the
Fund of such Shares.  We have also examined (i) a copy of the
notice (the "Notice") to be filed pursuant to the Rule by you
with the Securities and Exchange Commission relating to your
registration of an indefinite number of shares of beneficial
interest of the Fund pursuant to the Securities Act of 1933, as
amended, and making definite registration of the Shares pursuant
to the Rule, and (ii) a certificate of the Treasurer of the Fund
stating that 98,623,797 of the Shares had been recorded as issued
and that the appropriate consideration therefor as provided in
your Bylaws had been received at June 30,1997, and that 844,025
of the Shares had been recorded as sold and issued on your books
at June 30,1997, but that at that date payment had not been
received and was not then due in the ordinary course of business.

July 9, 1997
page 2


     We assume that appropriate action has been taken to register
or qualify the sale of the Shares under any applicable state and
federal laws regulating offerings and sales of securities, and
that the Notice will be timely filed with the Securities and
Exchange Commission.

     Based upon the foregoing, we are of the opinion that:

     1.  The Fund is a legally organized and validly existing
voluntary association with transferable shares of beneficial
interest under the laws of The Commonwealth of Massachusetts and
is authorized to issue an unlimited number of shares of
beneficial interest.

     2.  The Shares were validly issued and, except for the
844,025 Shares for which payment had not been received at June
30, 1997 and was not then due in the ordinary course of business,
were fully paid and nonassessable by the Fund at June 30,1997.

     The Fund is an entity of the type commonly known as a
Massachusetts business trust.  Under Massachusetts law,
shareholders could, under certain circumstances, be held
personally liable for the obligations of the Fund.  However, the
Agreement and Declaration of Trust disclaims shareholder
liability for acts or obligations of the Fund and requires that
notice of such disclaimer be given in each agreement, obligation
or instrument entered into or executed by the Fund or its
Trustees.  The Agreement and Declaration of Trust provides for
indemnification out of the property of the Fund for all loss and
expense of any shareholder of the Fund held personally liable for
the obligations of the Fund solely by reason of his being or
having been a shareholder of the Fund.  Thus, the risk of a
shareholder incurring financial loss on account of shareholder
liability is limited to circumstances in which the Fund itself
would be unable to meet its obligations.

     We consent to this opinion accompanying the Notice.

                              Very truly yours,


                              Ropes & Gray