PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND
PUTNAM CALIFORNIA INTERMEDIATE TAX EXEMPT FUND
Prospectus Supplement dated June 5, 1995
to Prospectus dated February 1, 1995
William H. Reeves, Vice President of Putnam Investment
Management, Inc. ("Putnam Management") and Vice President of the
Trust, has had primary responsibility for the day-to-day
management of the Income Fund's portfolio since 1986. Mr. Reeves
has been employed by Putnam Management since 1986. James M.
Prusko, Assistant Vice President of Putnam Management and Vice
President of the Trust, has had primary responsibility for the
day-to-day management of the Intermediate Fund's portfolio since
June, 1995. Mr. Prusko has been employed by Putnam Management
since August, 1992. Prior to August, 1992, Mr. Prusko was a
Sales and Trading Associate at Salomon Brothers, Inc.
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