3087 7/99
Prospectus Supplement
dated July 26, 1999 to:

Putnam Europe Growth Fund
Putnam International Growth Fund
Prospectuses dated October 30, 1998

Putnam Investors Fund
Putnam OTC & Emerging Growth Fund
Putnam Vista Fund
Putnam Voyager Fund
The George Putnam Fund of Boston
Prospectuses dated November 30, 1998

Effective July 26, 1999, each fund listed above will offer class C
shares.  This document provides important information about class
C shares and supplements the Prospectus of each such fund.

The section "Fees and Expenses" is supplemented as follows:
FEES AND EXPENSES
This table summarizes the fees and expenses you may pay if you buy
and hold class C shares of a fund. You pay shareholder fees
directly. Annual fund operating expenses are deducted from a
fund's assets.
Shareholder Fees (fees paid directly from your investment)

Maximum Sales Charge (Load)
Imposed On Purchases (as a
percentage of the offering price)           NONE
Maximum Deferred Sales Charge (Load)
(as a percentage of the original
purchase price or redemption
proceeds, whichever is lower)               1.00%


Annual fund operating expenses
(expenses that are deducted from fund assets)

                                                                

                                                                           Total Annual
                                    Management   Distribution   Other      Fund Operating
                                    Fees         (12b-1) Fees   Expenses   Expenses
Putnam Europe Growth Fund            0.75%       1.00%          0.32%      2.07%
Putnam International Growth Fund     0.68%       1.00%          0.43%      2.11%
Putnam Investors Fund                0.51%       1.00%          0.19%      1.70%
Putnam OTC & Emerging Growth Fund    0.54%       1.00%          0.21%      1.75%
Putnam Vista Fund                    0.49%       1.00%          0.24%      1.73%
Putnam Voyager Fund                  0.48%       1.00%          0.23%      1.71%
The George Putnam Fund of Boston     0.49%       1.00%          0.26%      1.75%

EXAMPLE
This example translates the "total annual fund operating expenses"
shown in the preceding table into dollar amounts. By doing this,
you can more easily compare the cost of investing in a fund to the
cost of investing in other mutual funds. The example makes certain
assumptions. It assumes that you invest $10,000 in a fund for the
time periods shown and, except as stated, redeem all your shares
at the end of those periods. It also assumes a 5% return on your
investment each year and that the fund's operating expenses remain
the same. The example is hypothetical; your actual costs and
returns may be higher or lower.

                                1 year
                             no redemption   1 year   3 years  5 years  10 years
Putnam Europe Growth Fund        $210          $310     $649    $1,114  $2,400
Putnam International Growth Fund $214          $314     $661    $1,134  $2,441
Putnam Investors Fund            $173          $273     $536    $  923  $2,009
Putnam OTC & Emerging Growth Fund$178          $278     $551    $  949  $2,062
Putnam Vista Fund                $176          $276     $545    $  939  $2,041
Putnam Voyager Fund              $174          $274     $539    $  928  $2,019
The George Putnam Fund of Boston $178          $278     $551    $  949  $2,062

The section "How do I buy fund shares?" is replaced by the
following (except for the tables of class A and class M initial
sales charges and class A and class B deferred sales charges,
which remain unchanged):

HOW DO I BUY FUND SHARES?
You can open a fund account with as little as $500 and make
additional investments at any time with as little as $50. The fund
sells its shares at the offering price, which is the NAV plus any
applicable sales charge. Your financial advisor or Putnam Investor
Services generally must receive your completed buy order before
the close of regular trading on the New York Stock Exchange for
your shares to be bought at that day's offering price.
You can buy shares
* Through a financial advisor. Your advisor will be responsible
for furnishing all necessary documents to Putnam Investor
Services, and may charge you for his or her services.
* Through systematic investing. You can make regular investments
of $25 or more per month through automatic deductions from your
bank checking or savings account. Application forms are available
through your advisor or Putnam Investor Services at 1-800-225-
1581.
You may also complete an order form and write a check for the
amount you wish to invest, payable to the fund. Return the check
and completed form to Putnam Mutual Funds.
The fund may periodically close to new purchases of shares or
refuse any order to buy shares if the fund determines that doing
so would be in the best interests of the fund and its
shareholders.
WHICH CLASS OF SHARES IS BEST FOR ME?
This prospectus offers you a choice of four classes of fund
shares: A, B, C and M. This allows you to choose among different
types of sales charges and different levels of ongoing operating
expenses, as illustrated in the "Fees and expenses" section. The
class of shares that is best for you depends on a number of
factors, including the amount you plan to invest and how long you
plan to hold the shares. Here is a summary of the differences
among the classes of shares:
Class A shares

* Initial sales charge of up to 5.75%
* Lower sales charge for investments of $50,000 or more
* No deferred sales charge (except on certain redemptions of
shares bought without an initial sales charge)
* Lower annual expenses, and higher dividends, than class B, C or
M shares because of lower 12b-1 fee

Class B shares

* No initial sales charge; your entire investment goes to work for
you
* Deferred sales charge of up to 5% if you sell shares within 6
years after you bought them
* Higher annual expenses, and lower dividends, than class A or M
shares because of higher 12b-1 fee
* Convert automatically to class A shares after 8 years, reducing
the future 12b-1 fee (may convert sooner in some cases)
* Orders for class B shares for more than $250,000 are treated as
orders for class A shares or refused

Class C shares

* No initial sales charge; your entire investment goes to work for
you
* Deferred sales charge of up to 1.00% if you sell shares within
one year after you bought them
* Higher annual expenses, and lower dividends, than class A or M
shares because of higher 12b-1 fee
* No conversion to class A shares, so future 12b-1 fee does not
decrease
* Orders of $1,000,000 or more and orders which because of a right
of accumulation or statement of intent would qualify for the
purchase of class A shares without an initial sales charge will be
treated as orders for class A shares or declined.

Class M shares

* Initial sales charge of up to 3.50%
* Lower sales charges for larger investments of $50,000 or more
* No deferred sales charge
* Lower annual expenses, and higher dividends, than class B and
class C shares because of lower 12b-1 fee
* Higher annual expenses, and lower dividends, than class A shares
because of higher 12b-1 fee
* No conversion to class A shares, so future 12b-1 fee does not
decrease

* You may be eligible for reductions and waivers of sales charges.
Sales charges may be reduced or waived under certain circumstances
and for certain groups. Information about reductions and waivers
of sales charges is included in the SAI. You may consult your
financial advisor or Putnam Mutual Funds for assistance.
* Distribution (12b-1) plans. The fund has adopted distribution
plans to pay for the marketing of fund shares and for services
provided to shareholders. The plans provide for payments at annual
rates (based on average net assets) of up to 0.35% on class A
shares and 1.00% on class B, class C and class M shares. The
Trustees currently limit payments on class A and class M shares to
0.25% and 0.75% of average net assets, respectively. Because these
fees are paid out of the fund's assets on an ongoing basis, they
will increase the cost of your investment. The higher fees for
class B, class C and class M shares may cost you more than paying
the initial sales charge for class A shares. Because class C and
class M shares, unlike class B shares, do not convert to class A
shares, class C and class M shares may cost you more over time
than class B shares.