CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in this
Post-Effective Amendment No. 27 to the registration statement on Form
N-1A (File No. 2-60492) ("Registration Statement") of our report dated
October 12, 1999, relating to the financial statements and financial
highlights appearing in the August 31, 1999 Annual Report of Putnam High
Yield Trust, which are also incorporated by reference into the
Registration Statement. We also consent to the references to us under
the headings "Financial highlights" and "Independent Accountants and
Financial Statements" in such Registration Statement.
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Boston, Massachusetts
December 26, 2000
