497 1 pfg1.txt THE PUTNAM FUND FOR GROWTH AND INCOME Prospectus Supplement 8/02 dated August 30, 2002 to: THE PUTNAM FUND FOR GROWTH AND INCOME Class A and Class Y shares prospectuses dated February 28, 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 Large-Cap Value 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 --------------------------------------------------------------------------- Hugh H. Mullin 1996 1986 - Present Putnam Management --------------------------------------------------------------------------- Portfolio members Since Experience --------------------------------------------------------------------------- David L. King 1993 1983 - Present Putnam Management Christopher G. Miller 2000 1998 - Present Putnam Management Prior to 1998 Analytic TSA Global Asset Management