497 1 ius1.txt PUTNAM INTERMEDIATE U.S. GOVERNMENT INCOME FUND Prospectus Supplement 86498 9/02 dated September 30, 2002 to: PUTNAM INTERMEDIATE U.S. GOVERNMENT INCOME FUND Prospectuses dated March 30, 2002 The second paragraph under the heading "Who manages the fund?" is replaced with the following: Putnam Management's investment professionals are organized into investment management teams, with a particular team dedicated to each specific asset class. The members of the Core Fixed-Income Team are responsible for the day-to-day management of the fund. The names of all team members can be found at www.putnaminvestments.com. The following team members coordinate the team's management of the fund's portfolio. Their experience as investment professionals over at least the last five years is shown. ------------------------------------------------------------------------- Portfolio leader Since Experience ------------------------------------------------------------------------- Kevin M. Cronin 1998 1997 - Present Putnam Management ------------------------------------------------------------------------- Portfolio member Since Experience ------------------------------------------------------------------------- Rob A. Bloemker 2002 1999 - Present Putnam Management Prior to 1999 Lehman Brothers -------------------------------------------------------------------------