PUTNAM TAX EXEMPT INCOME FUND
NSAR-B, EX-27, 2000-11-29
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Putnam Tax Exempt Income Fund
</LEGEND>
<SERIES>
   <NUMBER> 4
   <NAME> CLASS B

<S>                             <C>
<PERIOD-TYPE>                   ANNUAL
<FISCAL-YEAR-END>                          SEP-30-2000
<PERIOD-END>                               SEP-30-2000
<INVESTMENTS-AT-COST>                    1,717,722,802
<INVESTMENTS-AT-VALUE>                   1,758,939,593
<RECEIVABLES>                               31,016,251
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           1,789,955,844
<PAYABLE-FOR-SECURITIES>                     5,869,215
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   11,381,342
<TOTAL-LIABILITIES>                         17,250,557
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                 1,768,076,226
<SHARES-COMMON-STOCK>                       21,568,837
<SHARES-COMMON-PRIOR>                       25,441,190
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                     (3,703,047)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                  (33,176,493)
<ACCUM-APPREC-OR-DEPREC>                    41,508,601
<NET-ASSETS>                             1,772,705,287
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                          121,051,117
<OTHER-INCOME>                                       0
<EXPENSES-NET>                              15,286,669
<NET-INVESTMENT-INCOME>                    105,764,448
<REALIZED-GAINS-CURRENT>                   (4,260,426)
<APPREC-INCREASE-CURRENT>                 (17,956,554)
<NET-CHANGE-FROM-OPS>                       83,547,468
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                 (10,397,256)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      2,287,456
<NUMBER-OF-SHARES-REDEEMED>                (6,919,519)
<SHARES-REINVESTED>                            759,710
<NET-CHANGE-IN-ASSETS>                   (194,751,349)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                    (4,176,192)
<OVERDIST-NET-GAINS-PRIOR>                (30,019,438)
<GROSS-ADVISORY-FEES>                        9,046,050
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                             15,630,837
<AVERAGE-NET-ASSETS>                       198,883,056
<PER-SHARE-NAV-BEGIN>                             8.62
<PER-SHARE-NII>                                    .44
<PER-SHARE-GAIN-APPREC>                          (.09)
<PER-SHARE-DIVIDEND>                             (.44)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.53
<EXPENSE-RATIO>                                   1.43
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>


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