[H & M Final]
[Translation]
SEMI-ANNUAL REPORT
(THE FOURTH TERM)
FROM: OCTOBER 1, 1997
TO: MARCH 31, 1998
AMENDMENT TO SECURITIES REGISTRATION STATEMENT
PUTNAM U.S. GOVERNMENT INCOME TRUST
SEMI-ANNUAL REPORT
(THE FOURTH TERM)
FROM: OCTOBER 1, 1997
TO: MARCH 31, 1998
PUTNAM U.S. GOVERNMENT INCOME TRUST
SEMI-ANNUAL REPORT
(The Fourth Term)
From: October 1, 1997
To: March 31, 1998
To: Minister of Finance
Filing Date : June 15, 1998
Name of the Registrant Fund: PUTNAM U.S. GOVERNMENT
INCOME TRUST
Name and Official Title of Trustees: George Putnam
William
F. Pounds
Jameson
A. Baxter
Hans H.
Estin
John A.
Hill
Ronald
J. Jackson
Paul L.
Joskow
Elizabeth T. Kennan
Lawrence J. Lasser
John H.
Mullin, III
Robert
E. Patterson
Donald
S. Perkins
George
Putnam, III
A.J.C.
Smith
W.
Thomas Stephens
W.
Nicholas Thorndike
Address of Principal Office: One Post Office Square
Boston,
Massachusetts 02109
U. S.
A.
Name and Title of Registration Agent: Harume Nakano
Attorney-at-Law
Signature [Harume Nakano]
(Seal)
Ken
Miura
Attorney-at-Law
Signature [Ken Miura]
(Seal)
Address or Place of Business Kasumigaseki Building,
25th Floor
2-5,
Kasumigaseki 3-chome
Chiyoda-
ku, Tokyo
Name of Liaison Contact: Harume Nakano
Ken
Miura
Attorneys-at-Law
Place of Liaison Contact: Hamada & Matsumoto
Kasumigaseki Building, 25th
Floor
2-5,
Kasumigaseki 3-chome
Chiyoda-
ku, Tokyo
Phone Number: 03-3580-3377
- ii -
Places where a copy of this Semi-annual Report
is available for Public Inspection
Not applicable.
(Total number of pages of this Semi-annual Report
is 31 including the front page)
C O N T E N T S
This Japanese
EnglishOriginal
Translation
I. STATUS OF INVESTMENT FUND
(1) Diversification of Investment Portfolio 1
1
(2) Results of Past Operations 2 1
a. Record of Changes in Net Assets 2 1
b. Record of Distributions Paid. 2 2
(3) Record of Sales and Repurchases 3 2
II. OUTLINE OF THE FUND
1. FUND 4 3
(1) Amount of Capital Stock 4 3
(2) Information Concerning Major Shareholders
4 3
(3) Information Concerning Directors, Officers
and Employees 4 3
(4) Description of Business and Outline of Operation
6 5
(5) Miscellaneous 7 5
2. Putnam Investment Management, Inc.
(Investment Management Company) 7 5
(1) Amount of Capital Stock 7 5
(2) Information Concerning Major Shareholders
7 5
(3) Information Concerning Directors, Officers
and Employees 7 5
(4) Summary of Business Lines and Business Operation
16 18
(5) Miscellaneous 29 37
III. OUTLINE OF THE FINANCIAL STATUS OF THE FUND
3138
IV. OUTLINE OF THE FINANCIAL STATUS OF THE
INVESTMENT MANAGEMENT COMPANY 31 53
I. STATUS OF INVESTMENT FUND ("Putnam U.S. Government Income
Trust")
("Fund")
(1) Diversification of Investment Portfolio
Diversification of Investment Portfolio by Types of
Assets and geographic Regions:
Note 1: Investment ratio is calculated by dividing each
asset at its market value by the total Net Asset
Value of the Fund. The same applies hereinafter.
Note 2: The exchange rate of U.S. dollars ("Dollar" or
"$") into Japanese Yen is Yen132.40 for one U.S.
Dollar, which is the actual middle point between the
selling and buying currency rate by telegraphic
transfer on the April 30, 1998 quoted by The Bank of
Tokyo-Mitsubishi, Ltd. The same applies
hereinafter.
Note 3: In this report, money amounts and
percentages have been rounded. Therefore, there are
cases in which the amount for the "total" column is
not equal to the aggregate amount. Also, conversion
into other currencies is done simply by multiplying
the corresponding amount by the conversion rate
specified and rounded up when necessary. As a
result, in this report, there are cases in which
figures for the same information differ from each
other.
(2) Results of Past Operations
a. Record of Changes in Net Assets (Class M Shares)
Record of changes in net assets during the one year
period up to and including the end of April 1998 is as
follows:
(Note) Operations of Class M Shares were commenced on
February 6, 1995.
b. Record of Distributions Paid (Class M Shares)
Fiscal Year Amount paid per Share
The Third Fiscal Year $0.78 (Yen103)
(10/1/96 - 9/30/97)
Record of distribution paid at the end of each month during
the one year period up to and including April 1998 is as
follows:
132.4
Record Dates
Dividend
NAV per Share
Dollar
Yen
Dollar
1997 May 12
0.064
8.47
12.73
June 10
0.066
8.74
12.78
July 11
0.066
8.74
12.90
August 11
0.067
8.87
12.85
September 10
0.066
8.74
12.86
October 10
0.066
8.74
12.93
November 10
0.067
8.87
12.96
December10
0.070
9.27
13.01
1998 January 12
0.068
9.00
13.12
February 10
0.067
8.87
13.03
March 10
0.067
8.87
13.01
April 13
0.066
8.74
12.99
(3) Record of Sales and Repurchases (Class M Shares)
Record of sales and repurchases during the one year
period up to and including the end of April 1998 and
number of outstanding shares of the Fund as of the end of
Arpil 1998 are as follows:
Number of Shares Number of Shares Number of
Sold Repurchased Outstanding Shares
16,222,578 1,262,261 15,528,739
(14,721,400 ) (530,900) (14,190,500)
Note: The number of Shares sold, repurchased and
outstanding in the parentheses represents those sold,
repurchased and outstanding in Japan.
II. OUTLINE OF THE FUND
1. Fund
(1) Amount of Capital Stock
Not applicable.
(2) Information Concerning Major Shareholders
Not applicable.
(3) Information Concerning Directors, Officers and Employees
(1) Trustees and Officers of the Fund (as
of the end of April 1998)
Shares
Name Office and Resume Owned
Title
George Putnam Chairman and present: Chairman and 11,116.4
President Director of the
Investment
Management
Company and
Putnam Mutual
Funds Corp.
Director, Marsh &
McLennan
Companies, Inc.
William F. Vice present: Professor of 1,331.9
Pounds Chairman Management,
Alfred P. Sloan
School of
Management,
Massachusetts
Institute of
Technology
Jameson Adkins Trustee present: President, 131.9
Baxter Baxter
Associates, Inc.
Hans H. Estin Trustee present: Vice Chairman, 182.2
North American
Management Corp.
John A. Hill Trustee present: Chairman and 467.4
Managing
Director, First
Reserve
Corporation
Ronald J. Trustee present: Former 133.6
Jackson Chairman,
President and
Chief Executive
Officer of Fisher-
Price, Inc.,
Trustee of Salem
Hospital and the
Peabody Essex
Museum
Paul. L. Trustee present: Professor of 116.0
Joskow Economics and
Management and
Head of the
Department of
Economics at the
Massachusetts
Institute of
Technology,
Director, New
England Electric
System State Farm
Indemnity Company
and Whitehead
Institute for
Biomedical
Research
Elizabeth T. Trustee present: President 451.3
Kennan Emeritus and
Professor, Mount
Holyoke College
Lawrence J. Trustee and present: President, 150.1
Lasser Vice Chief Executive
President Officer and
Director of
Putnam
Investments, Inc.
and the
Investment
Management
Company
Director, Marsh &
McLennan
Companies, Inc.
John H. Trustee present: Chairman and 394.0
Mullin, III Chief Executive
Officer of
Ridgeway Farm,
Director of ACX
Technologies,
Inc., Alex. Brown
Realty, Inc., and
The Liberty
Corporation
Robert E. Trustee present: President and 953.1
Patterson Trustee of Cabot
Industrial Trust
and Trustee of
Sea Education
Association
Donald S. Trustee present: Director of 1,122.8
Perkins various
corporations,
including Cummins
Engine Company,
Lucent
Technologies,
Inc., Nanophase
Technologies,
Inc., Springs
Industries, Inc.
and Time Warner
Inc.
George Putnam, Trustee present: President, New 1,907.6
III Generation
Research, Inc.
A.J.C. Smith Trustee present: Chairman and 684.0
Chief Executive
Officer, Marsh &
McLennan
Companies, Inc.
W. Thomas Trustee present: President and 104.4
Stephens Chief Executive
Officer of
MacMillian
Bloedel Ltd.,
Director of Qwest
Communications
and New Century
Energies
W. Nicholas Trustee present: Director of 150.1
Thorndike various
corporations and
charitable
organizations,
including Data
General
Corporation,
Bradley Real
Estate, Inc. and
Providence
Journal Co.
Trustee of Cabot
Industrial Trust,
Massachusetts
General Hospital
and Eastern
Utilities
Associations
Charles E. Executive present: Managing 0
Porter Vice Director of
President Putnam
Investments, Inc.
and the
Investment
Management
Company
Patricia C. Senior Vice present: Senior Vice 0
Flaherty President President of
Putnam
Investments, Inc.
and the
Investment
Management
Company
William N. Vice present: Director and 0
Shiebler President Senior Managing
Director of
Putnam
Investments, Inc.
President and
Director of
Putnam Mutual
Funds
Ian C. Vice present: Senior 0
Ferguson President Managing Director
of the Investment
Management
Company
Gordon H. Vice present: Director and 0
Silver President Senior Managing
Director of
Putnam
Investments, Inc.
and the
Investment
Management
Company
Michael Vice present: Managing 0
Martino President Director of
Putnam
Investments, Inc.
John D. Hughes Senior Vice present Senior Vice 0
President President of the
and Investment
Treasurer Management
Company
Beverly Marcus Clerk and N/A 0
Assistant
Treasurer
John R. Verani Vice present Senior Vice 0
President President of
Putnam
Investment, Inc.
and the
Investment
Management
Company
William J. Vice present Managing 0
Curtin President Director of
Putnam
Investments, Inc.
and the
Investment
Management
Company
Note: The Fund does not have any employees.
(4) Description of Business and Outline of Operation
The Fund may carry out any administrative and
managerial act, including the purchase, sale,
subscription and exchange of any securities, and the
exercise of all rights directly or indirectly pertaining
to the Fund's assets. The Fund has retained
Putnam Investment Management, Inc., the investment
adviser, to render investment advisory services
and Putnam Fiduciary Trust Company, to hold the assets of
the Fund in custody and act as Investor Servicing Agent.
(5) Miscellaneous
There has been, or is, no litigation or fact which
had or would have, a material effect on the Fund during
the six months before the filing of this report.
2. Putnam Investment Management, Inc. (Investment Management
Company)
(1) Amount of Capital Stock (as of the end of April 1998)
1. Amount of Capital (issued capital stock at par
value):
Common Stock 1,000 shares at $1 par value
2. Number of authorized shares of capital stock:
Common Stock 1,000 shares
3. Number of outstanding shares of capital stock:
Common Stock 1,000 shares
4. Amount of capital (for the purposes of this Item,
"Amount of Capital" means total stockholders' equity
for the past five years:
Year Amount of Capital
(Total Stockholders'
Equity)
End of 1993 $49,847,760
End of 1994 $48,149,491
End of 1995 $45,521,351
End of 1996 $45,817,658
End of 1997 $48,617,160
(2) Information Concerning Major Stockholders
As of the end of April 1998, all the outstanding shares
of capital stock of Investment Management Company were
owned by Putnam Investments, Inc.
(3) Information Concerning Officers and Employees
The following table lists the names of various officers
and directors of Investment Management Company and their
respective positions with Investment Management Company.
For each named individual, the table lists: (i) any other
organizations (excluding other Investment Management
Company's funds) with which the officer and/or director
has recently had or has substantial involvement; and (ii)
positions held with such organization:
List of Officers and Directors of Putnam Investment
Management, Inc.
( as of the end
of April 1998)
Position
with Putnam
Name Investment Other Business Affiliation
Management,
Inc.
Putnam, Chairman Director of Putnam Mutual
George Funds Corp.
Lasser, President
Lawrence J. and Director
Silver, Director and Director of Putnam Fiduciary
Gordon H. Senior Trust Company, Senior
Managing Administrative Officer and
Director Senior Managing Director of
Putnam Mutual Funds Corp.
Burke, Senior Senior Managing Director of
Robert W. Managing Putnam Mutual Funds Corp.
Director
Collman, Senior Senior Managing Director of
Kathleen M. Managing Putnam Mutual Funds Corp.
Director
Ferguson, Senior
Ian C. Managing
Director
Regan, Senior
Anthony W. Managing
Director
Spiegel, Director and Senior Managing Director of
Steven Senior Putnam Mutual Funds Corp.
Managing
Director
Anderson, Managing
Blake E. Director
Antill, Managing
Jennifer Director
Beck, Managing
Robert R. Director
Bogan, Managing
Thomas R. Director
Browchuk, Managing
Brett Director
Cassaro, Managing
Joseph A. Director
Cotner, C. Managing
Beth Director
Cronin, Managing Managing Director of Putnam
Kevin M. Director Fiduciary Trust Company
Curtin, Managing
William J. Director
D'Alelio, Managing
Edward H. Director
Daly, Managing Managing Director of Putnam
Kenneth L. Director Mutual Funds Corp.
DeTore, Managing Managing Director of Putnam
John A. Director Fiduciary Trust Company
Durgarian, Managing
Karnig H. Director
Esteves, Managing Treasurer and CFO of Putnam
Irene M. Director Fiduciary Trust Company
Gillis, Managing
Roland Director
Haslett, Managing
Thomas R. Director
Hurley, Managing Managing Director and CFO of
William J. Director Putnam Mutual Funds Corp.
Jacobs, Managing
Jerome J. Director
Joseph, Managing
Joseph P. Director
Kamshad, Managing
Omid Director
King, David Managing
L. Director
Kohli, D. Managing
William Director
Kreisel, Managing
Anthony I. Director
Kuenstner, Managing
Deborah F. Director
Landes, Managing
William J. Director
Leichter, Managing
Jennifer Director
Maloney, Managing
Kevin J. Director
Martino, Managing Managing Director of Putnam
Michael Director Fiduciary Trust Company
Maxwell, Managing
Scott M. Director
McGue, Managing
William F. Director
McMullen, Managing
Carol C. Director
Miller, Managing
Daniel L. Director
Morgan Jr., Managing Managing Director of Putnam
John J. Director Fiduciary Trust Company
O'Donnell Managing
Jr., C. Director
Patrick
Peacher, Managing
Stephen C. Director
Porter, Managing
Charles E. Director
Reilly, Managing
Thomas V. Director
Schultz, Managing Managing Director of Putnam
Mitchell D. Director Mutual Funds Corp.
Scott, Managing Managing Director of Putnam
Justin M. Director Fiduciary Trust Company
Shadek Jr., Managing
Edward T. Director
Starr, Managing Managing Director of Putnam
Loren Director Mutual Funds Corp.
Swift, Managing
Robert Director
Talanian, Managing Managing Director of Putnam
John C. Director Mutual Funds Corp.
Tibbetts, Managing Managing Director of Putnam
Richard B. Director Mutual Funds Corp.
Waldman, Managing
David L. Director and
Chief
Financial
Officer
Wetlaufer, Managing Managing Director of Putnam
Eric Director Mutual Funds Corp.
Woolverton, Managing Managing Director of Putnam
William H. Director Mutual Funds Corp.
Zieff, Managing
William E. Director
Arends, Senior Vice Senior Vice President of
Michael K. President Putnam Mutual Funds Corp.
Asher, Senior Vice Senior Vice President of
Steven E. President Putnam Mutual Funds Corp.
and Senior Vice President of
Putnam Fiduciary Trust
Company
Atkin, Senior Vice
Michael J. President
Attridge, Senior Vice Senior Vice President of
Gail S. President Putnam Fiduciary Trust
Company
Agustine, Senior Vice
Jeffrey B. President
Bakshi, Senior Vice
Manjit S. President
Bamford, Senior Vice
Dolores President
Snyder
Baumbach, Senior Vice
Robert K. President
Berka, Senior Vice Senior Vice President of
Sharon A. President Putnam Mutual Funds Corp.
Blaisdell, Senior Vice
Geoffrey C. President
Boselli, Senior Vice
John A. President
Bousa, Senior Vice
Edward P. President
Bresnahan, Senior Vice Senior Vice President of
Leslee R. President Putnam Mutual Funds Corp.
Burke, Senior Vice
Andrea President
Burns, Senior Vice
Cheryl A. President
Byrne, Senior Vice
Joshua L. President
Callahan, Senior Vice
Ellen S. President
Carlson, Senior Vice
David G. President
Chapman, Senior Vice
Susan President
Chrostowski Senior Vice Senior Vice President of
, Louis F. President Putnam Mutual Funds Corp.
Curran, Senior Vice Senior Vice President of
Peter J. President Putnam Mutual Funds Corp.
Dalferro, Senior Vice
John R. President
Danoff, Ami Senior Vice
K. President
Derbyshire, Senior Vice Senior Vice President of
Ralph C. President Putnam Fiduciary Trust
Company
England, Senior Vice
Richard B. President
Eurkus, Senior Vice
David J. President
Farrell, Senior Vice Senior Vice President of
Deborah S. President Putnam Mutual Funds Corp.
Finchi, Ted Senior Vice
President
Fitzgerald, Senior Vice
Michael T. President
Flaherty, Senior Vice Senior Vice President of
Patricia C. President Putnam Mutual Funds Corp.
Fontana, Senior Vice
Forrest N. President
Francis, Senior Vice
Jonathan H. President
Frucci, Senior Vice Senior Vice President of
Richard M. President Putnam Fiduciary Trust
Company
Fullerton, Senior Senior Vice President of
Brian J. Managing Putnam Mutual Funds Corp.
Director
Grant, Senior Vice Senior Vice President of
Peter J. President Putnam Fiduciary Trust
Company
Graviere, Senior Vice
Patrice President
Grim Daniel Senior Vice
J. President
Haagensen, Senior Vice
Paul E. President
Hadden, Senior Vice
Peter J. President
Halperin, Senior Vice
Matthew C. President
Healey, Senior Vice
Deborah R. President
Holding, Senior Vice
Pamela President
Hotchkiss, Senior Vice
Michael F. President
Kay, Karen Senior Vice Clerk, Director and Senior
R. President Vice President of Putnam
Fiduciary Trust Company and
Senior Vice President of
Putnam Mutual Funds Corp.
Kirson, Senior Vice
Steven L. President
Knight, Senior Vice
Jeffrey L. President
Kobylarz, Senior Vice
Jeffrey J. President
Koontz, Senior Vice Managing Director of Putnam
Jill A. President Mutual Funds Corp.
Korn, Karen Senior Vice
R. President
Lannum III, Senior Vice
Coleman N. President
Lindsey, Senior Vice
Jeffrey R. President
Lomba, Senior Vice
Rufino R. President
Lukens, Senior Vice
James W. President
MacElwee, Senior Vice
Elizabeth President
M.
Madore, Senior Vice Senior Vice President of
Robert A. President Putnam Fiduciary Trust
Company
Malloy, Senior Vice
Julie M. President
Manning, Senior Vice
Howard K. President
Marrkand, Senior Vice
Paul E. President
Matteis, Senior Vice
Andrew S. President
McAuley, Senior Vice
Alexander President
J.
McDonald, Senior Vice
Richard E. President
Meehan, Senior Vice
Thalia President
Mehta, Senior Vice
Sandeep President
Mikami, Senior Vice
Darryl K. President
Miller, Senior Vice
William H. President
Minn, Seung Senior Vice
H. President
Mockard, Senior Vice
Jeanne L. President
Morgan, Senior Vice
Kelly A. President
Mufson, Senior Vice
Michael J. President
Mullen, Senior Vice Senior Vice President of
Donald E. President Putnam Mutual Funds Corp.
Mullin, Senior Vice
Hugh H. President
Netols, Senior Vice Senior Vice President of
Jeffrey W. President Putnam Fiduciary Trust
Company
Oler, Senior Vice
Stephen S. President
Paine, Senior Vice
Robert M. President
Parker, Senior Vice
Margery C. President
Perry, Senior Vice
William President
Peters, Senior Vice
Carmel President
Plapinger, Senior Vice Senior Vice President of
Keith President Putnam Mutual Funds Corp.
Pohl, Senior Vice
Charles G. President
Pollard, Senior Vice
Mark D. President
Prusko, Senior Vice Senior Vice President of
James M. President Putnam Fiduciary Trust
Company
Quinton, Senior Vice
Keith P. President
Quistberg, Senior Vice
Paul T. President
Ray, Senior Vice
Christopher President
A.
Reeves, Senior Vice
William H. President
Rosalanko, Senior Vice
Thomas J. President
Ruys de Senior Vice Senior Vice President of
Perez, President Putnam Fiduciary Trust
Charles A. Company and Senior Vice
President of Putnam Mutual
Funds Corp.
Santos, Senior Vice Senior Vice President of
David J. President Putnam Fiduciary Trust
Company
Santosus, Senior Vice
Anthony C. President
Schwister, Senior Vice Senior Vice President of
Jay E. President Putnam Fiduciary Trust
Company
Scordato, Senior Vice Senior Vice President of
Christine President Putnam Mutual Funds Corp.
A.
Senter, Max Senior Vice
S. President
Shadek Jr., Senior Vice
Edward President
Silk, David Senior Vice
M. President
Simon, Senior Vice
Sheldon N. President
Simozar, Senior Vice
Saied President
Smith Jr., Senior Vice
Leo J. President
Smith, Senior Vice
Margaret D. President
Spatz, Erin Senior Vice
J. President
Stack, Senior Vice Senior Vice President of
Michael P. President Putnam Mutual Funds Corp.
Stairs, Senior Vice
George W. President
Storkerson, Senior Vice Senior Vice President of
John K. President Putnam Fiduciary Trust
Company
Strumpf, Senior Vice
Casey President
Sullivan, Senior Vice
Roger R. President
Svensson, Senior Vice
Lisa H. President
Swanberg, Senior Vice
Charles H. President
Thomas, Senior Vice
David K. President
Thomsen, Senior Vice Senior Vice President of
Rosemary H. President Putnam Fiduciary Trust
Company
Till, Senior Vice
Hilary F. President
Troped, Senior Vice Senior Vice President of
Bonnie L. President Putnam Mutual Funds Corp.
Turner, Senior Vice
Virginia M. President
Van Vleet, Senior Vice
Charles C. President
Verani, Senior Vice Senior Vice President of
John R. President Putnam Fiduciary Trust
Company and Senior Vice
President of Putnam Mutual
Funds Corp.
Walsh, Senior Vice
Francis P. President
Warren, Senior Vice
Paul C. President
Weinstein, Senior Vice
Michael R. President
Weiss, Senior Vice
Manuel President
Whalen, Senior Vice Senior Vice President of
Edward F. President Putnam Mutual Funds Corp.
Wheeler, Senior Vice
Diane D.F. President
Wyke, Senior Vice
Richard P. President
Yogg, Senior Vice
Michael R. President
Zukowski, Senior Vice
Gerald S. President
(4) Summary of Business Lines and Business Operation
Investment Management Company is engaged in the business
of providing investment management and investment
advisory services to mutual funds. As of the end
of April 1998, Investment Management Company managed,
advised, and/or administered the following 103
funds and fund portfolios (having an aggregate net asset
value of approximately $ 207.79 billion):
(As of the end of April 1998)
NameMonth/Date/Year Established Principal Characteristics
Total Net Asset Value ($ million) Net Asset Value per share
($)
The George Putnam Fund of Boston; A 11/5/37 Open/Equity
"3,358.6"19.32
The George Putnam Fund of Boston; B 4/24/92 Open/Equity
"1,246.9"19.17
The George Putnam Fund of Boston; M 12/1/94 Open/Equity
272.8 19.17
The George Putnam Fund of Boston; Y 1/1/94 Open/Equity
474.5 19.35
Putnam Arizona Tax Exempt Income Fund; A 1/30/91
Open/Bond119.6 9.24
Putnam Arizona Tax Exempt Income Fund; B 7/15/93
Open/Bond31.79.23
Putnam Arizona Tax Exempt Income Fund; M 7/3/95
Open/Bond0.5 9.25
Putnam American Government Income Fund; A 3/1/85
Open/Bond"1,472.3"8.79
Putnam American Government Income Fund; B 5/20/94
Open/Bond36.88.75
Putnam American Government Income Fund; M 2/14/95
Open/Bond1.7 8.81
Putnam Asia Pacific Growth Fund; A2/20/91 Open/Equity
345.4 10.91
Putnam Asia Pacific Growth Fund; B6/1/93 Open/Equity
143.1 10.75
Putnam Asia Pacific Growth Fund; M2/1/95 Open/Equity 7.8
10.86
Putnam Asset Allocation: Balanced Portfolio; A 2/7/94
Open/Balanced 905.0 12.16
Putnam Asset Allocation: Balanced Portfolio; B 2/11/94
Open/Balanced 521.2 12.09
Putnam Asset Allocation: Balanced Portfolio; C 9/1/94
Open/Balanced 92.812.03
Putnam Asset Allocation: Balanced Portfolio; M 2/6/95
Open/Balanced 56.812.14
Putnam Asset Allocation: Balanced Portfolio; Y 7/14/94
Open/Balanced 255.4 12.17
Putnam Asset Allocation : Conservative Portfolio; A 2/7/94
Open/Balanced 383.9 10.52
Putnam Asset Allocation : Conservative Portfolio; B 2/18/94
Open/Balanced 159.2 10.48
Putnam Asset Allocation : Conservative Portfolio; C 9/1/94
Open/Balanced 36.710.46
Putnam Asset Allocation : Conservative Portfolio; M 2/7/95
Open/Balanced 19.010.49
Putnam Asset Allocation : Conservative Portfolio; Y 7/14/94
Open/Balanced 27.410.53
Putnam Asset Allocation: Growth Portfolio; A2/8/94
Open/Balanced 650.5 13.70
Putnam Asset Allocation: Growth Portfolio; B2/16/94
Open/Balanced 431.4 13.54
Putnam Asset Allocation: Growth Portfolio; C9/1/94
Open/Balanced 94.213.44
Putnam Asset Allocation: Growth Portfolio; M2/1/95
Open/Balanced 50.113.55
Putnam Asset Allocation: Growth Portfolio; Y7/14/94
Open/Balanced 246.3 13.78
Putnam Balanced Retirement Fund; A4/19/85 Open/Balanced
660.2 11.58
Putnam Balanced Retirement Fund; B2/1/94 Open/Balanced
123.5 11.48
Putnam Balanced Retirement Fund; M3/17/95 Open/Balanced
10.411.52
Putnam California Tax Exempt Income Fund; A 4/29/83
Open/Bond"3,021.2"8.67
Putnam California Tax Exempt Income Fund; B 1/4/93
Open/Bond601.1 8.66
Putnam California Tax Exempt Income Fund; M 2/14/95
Open/Bond13.18.66
Putnam VT Asia Pacific Growth Fund; A 5/1/95 Open/Equity
112.5 8.62
Putnam VT Asia Pacific Growth Fund; B 4/30/98 Open/Equity
"1,006.0"8.62
Putnam VT Diversified Income Fund; A 9/15/93 Open/Bond
647.4 10.97
Putnam VT Diversified Income Fund; B 4/6/98 Open/Bond
"1,001.0"10.97
Putnam VT Global Growth Fund; A 5/1/90 Open/Equity
"1,862.9"18.38
Putnam VT Global Growth Fund; B 4/30/98 Open/Equity
"1,020.0"18.38
Putnam VT Global Asset Allocation Fund; A 2/1/88
Open/Balanced "1,046.1"18.41
Putnam VT Global Asset Allocation Fund; B 4/30/98
Open/Balanced "1,013.0"18.41
Putnam VT Growth and Income Fund; A 2/1/88 Open/Balanced
"9,429.7"27.67
Putnam VT Growth and Income Fund; B 4/6/98 Open/Balanced
987.0 27.61
Putnam VT High Yield Fund; A 2/1/88 Open/Bond"1,117.5"
13.00
Putnam VT High Yield Fund; B 4/30/98 Open/Bond"1,002.0"
13.02
Putnam VT Money Market Fund; A 2/1/88 Open/Bond430.4
1.00
Putnam VT Money Market Fund; B 4/30/98 Open/Bond
"1,000.0"1.00
Putnam VT New Opportunities Fund; A 5/2/94 Open/Equity
"3,144.7"24.29
Putnam VT New Opportunities Fund; B 4/30/98 Open/Equity
"1,015.0"24.29
Putnam VT U.S. Government and High Quality Bond Fund; A
2/1/88 Open/Bond804.2 12.97
Putnam VT U.S. Government and High Quality Bond Fund; B
4/30/98 Open/Bond"1,006.0"12.97
Putnam VT Utilities Growth and Income Fund; A 5/1/92
Open/Balanced 875.4 16.44
Putnam VT Utilities Growth and Income Fund; B 4/30/98
Open/Balanced "1,015.0"16.44
Putnam VT Voyager Fund; A 2/1/88 Open/Equity
"5,295.5"42.25
Putnam VT Voyager Fund; B 4/30/98 Open/Equity
"1,017.0"42.25
Putnam Capital Appreciation Fund; A 8/5/93 Open/Equity
"1,520.7"23.98
Putnam Capital Appreciation Fund; B 11/2/94 Open/Equity
"1,685.5"23.69
Putnam Capital Appreciation Fund; M 1/22/96 Open/Equity
121.0 23.74
Putnam Convertible Income-Growth Trust; A 6/29/72
Open/Balanced "1,209.2"22.92
Putnam Convertible Income-Growth Trust; B 7/15/93
Open/Balanced 313.5 22.69
Putnam Convertible Income-Growth Trust; M 3/13/95
Open/Balanced 19.422.77
Putnam Diversified Equity Trust; A7/1/94 Open/Equity
288.3 14.00
Putnam Diversified Equity Trust; B7/2/94 Open/Equity
361.5 13.87
Putnam Diversified Equity Trust; M7/3/95 Open/Equity
27.413.91
Putnam Diversified Income Trust; A10/3/88 Open/Bond
"2,098.2"12.68
Putnam Diversified Income Trust; B3/1/93 Open/Bond
"2,372.8"12.63
Putnam Diversified Income Trust; M12/1/94 Open/Bond
"1,098.1"12.64
Putnam Diversified Income Trust ; Y 7/11/96 Open/Bond
23.312.68
Putnam Equity Income Fund; A 6/15/77 Open/Balanced
"1,049.9"17.06
Putnam Equity Income Fund; B 9/13/93 Open/Balanced 596.4
16.95
Putnam Equity Income Fund; M 12/2/94 Open/Balanced 60.6
16.97
Putnam Europe Growth Fund; A 9/7/90 Open/Equity 674.9
23.12
Putnam Europe Growth Fund; B 2/1/94 Open/Equity 511.5
22.59
Putnam Europe Growth Fund; M 12/1/94 Open/Equity 31.1
22.97
Putnam Florida Tax Exempt Income Fund; A 8/24/90
Open/Bond238.0 9.33
Putnam Florida Tax Exempt Income Fund; B 1/4/93
Open/Bond69.89.33
Putnam Florida Tax Exempt Income Fund; M 5/1/95
Open/Bond1.3 9.32
Putnam High Quality Bond Fund; A 6/2/86 Open/Bond330.5
10.12
Putnam High Quality Bond Fund; B 6/6/94 Open/Bond15.2
10.08
Putnam High Quality Bond Fund; M 4/12/95 Open/Bond1.1
10.13
Putnam Global Governmental Income Trust; A 6/1/87
Open/Bond273.1 13.19
Putnam Global Governmental Income Trust; B 2/1/94
Open/Bond38.213.16
Putnam Global Governmental Income Trust; M 3/17/95
Open/Bond300.0 13.12
Putnam Global Growth Fund; A 9/1/67 Open/Equity
"3,023.2"11.68
Putnam Global Growth Fund; B 4/27/92 Open/Equity
"1,925.8"11.28
Putnam Global Growth Fund; M 3/1/95 Open/Equity 52.4
11.60
Putnam Global Growth Fund; Y 6/15/94 Open/Equity 61.6
11.86
Putnam Growth and Income Fund II; A 1/5/95 Open/Balanced
"1,249.1"15.14
Putnam Growth and Income Fund II; B 1/5/95 Open/Balanced
"1,494.4"15.03
Putnam Growth and Income Fund II; M 1/5/95 Open/Balanced
175.1 15.08
The Putnam Fund for Growth and Income; A 11/6/57
Open/Balanced "19,553.3" 21.55
The Putnam Fund for Growth and Income; B 4/27/92
Open/Balanced "16,596.9" 21.29
The Putnam Fund for Growth and Income; M 5/1/95
Open/Balanced 436.4 21.43
The Putnam Fund for Growth and Income; Y 6/15/94
Open/Balanced 897.6 21.59
Putnam High Yield Advantage Fund; A 3/25/86 Open/Bond
"1,586.7"10.10
Putnam High Yield Advantage Fund; B 5/16/94 Open/Bond
"1,355.6"10.05
Putnam High Yield Advantage Fund; M 12/1/94 Open/Bond
"2,168.3"10.09
Putnam High Yield Trust; A 2/14/78 Open/Bond"3,296.1"
13.18
Putnam High Yield Trust; B 3/1/93 Open/Bond"1,233.7"
13.12
Putnam High Yield Trust; M 7/3/95 Open/Bond23.513.17
Putnam Health Sciences Trust; A 5/28/82 Open/Equity
"2,400.7"63.21
Putnam Health Sciences Trust; B 3/1/93 Open/Equity
"1,162.3"61.29
Putnam Health Sciences Trust; M 7/3/95 Open/Equity
52.962.58
Putnam Income Fund; A 11/1/54 Open/Bond"1,397.9"7.12
Putnam Income Fund; B 3/1/93 Open/Bond444.6 7.08
Putnam Income Fund; M 12/14/94 Open/Bond"1,567.9"7.08
Putnam Income Fund; Y 2/12/94 Open/Bond231.9 7.12
Putnam Intermediate U.S. Government Income Fund; A 2/16/93
Open/Bond143.0 4.92
Putnam Intermediate U.S. Government Income Fund; B 2/16/93
Open/Bond74.54.92
Putnam Intermediate U.S. Government Income Fund; M 4/3/95
Open/Bond6.9 4.93
Putnam International New Opportunities Fund; A 1/3/95
Open/Equity 815.2 13.06
Putnam International New Opportunities Fund; B 7/21/95
Open/Equity "1,030.7"12.85
Putnam International New Opportunities Fund; M 7/21/95
Open/Equity 83.112.94
Putnam Investors Fund; A12/1/25 Open/Equity "2,739.2"
13.16
Putnam Investors Fund; B3/1/93 Open/Equity 654.5
12.69
Putnam Investors Fund; M12/2/94 Open/Equity 65.412.98
Putnam Investors Fund; Y11/30/96 Open/Equity 160.5
13.17
Putnam Massachusetts Tax Exempt Income Fund; A 10/23/89
Open/Bond290.0 9.51
Putnam Massachusetts Tax Exempt Income Fund; B 7/15/93
Open/Bond102.9 9.50
Putnam Massachusetts Tax Exempt Income Fund; M 5/12/95
Open/Bond2.6 9.50
Putnam Michigan Tax Exempt Income Fund; A 10/23/89
Open/Bond143.3 9.27
Putnam Michigan Tax Exempt Income Fund; B 7/15/93
Open/Bond40.39.26
Putnam Michigan Tax Exempt Income Fund; M 4/17/95
Open/Bond1.7 9.27
Putnam Minnesota Tax Exempt Income Fund; A 10/23/89
Open/Bond101.5 9.11
Putnam Minnesota Tax Exempt Income Fund; B 7/15/93
Open/Bond42.69.09
Putnam Minnesota Tax Exempt Income Fund; M 4/3/95
Open/Bond1.5 9.11
Putnam Money Market Fund; A 10/1/76 Open/Bond"2,190.0"
1.00
Putnam Money Market Fund; B 4/27/92 Open/Bond456.8
1.00
Putnam Money Market Fund; M 12/8/94 Open/Bond64.21.00
Putnam Municipal Income Fund; A 5/22/89 Open/Bond807.7
9.22
Putnam Municipal Income Fund; B 1/4/93 Open/Bond493.6
9.21
Putnam Municipal Income Fund; M 12/1/94 Open/Bond14.9
9.22
Putnam New Jersey Tax Exempt Income Fund; A 2/20/90
Open/Bond218.5 9.23
Putnam New Jersey Tax Exempt Income Fund; B 1/4/93
Open/Bond94.29.22
Putnam New Jersey Tax Exempt Income Fund; M 5/1/95
Open/Bond0.6 9.23
Putnam New York Tax Exempt Income Fund; A 9/2/83
Open/Bond"1,660.3"8.88
Putnam New York Tax Exempt Income Fund; B 1/4/93
Open/Bond224.3 8.86
Putnam New York Tax Exempt Income Fund; M 4/10/95
Open/Bond2.2 8.88
Putnam New York Tax Exempt Opportunities Fund; A 11/7/90
Open/Bond165.6 9.09
Putnam New York Tax Exempt Opportunities Fund; B 2/1/94
Open/Bond63.49.08
Putnam New York Tax Exempt Opportunities Fund; M 2/10/95
Open/Bond2.4 9.07
Putnam Global Natural Resources Fund; A7/24/80 Open/Equity
239.4 21.90
Putnam Global Natural Resources Fund; B2/1/94 Open/Equity
157.0 21.56
Putnam Global Natural Resources Fund; M7/3/95 Open/Equity
8.5 21.75
Putnam New Opportunities Fund; A 8/31/90 Open/Equity
"9,883.0"56.46
Putnam New Opportunities Fund; B 3/1/93 Open/Equity
"7,856.4"54.31
Putnam New Opportunities Fund; M 12/1/94 Open/Equity
437.9 55.50
Putnam New Opportunities Fund; Y 7/19/94 Open/Equity
452.0 57.03
Putnam Ohio Tax Exempt Income Fund; A 10/23/89 Open/Bond
184.2 9.18
Putnam Ohio Tax Exempt Income Fund; B 7/15/93 Open/Bond
52.59.17
Putnam Ohio Tax Exempt Income Fund; M 4/3/95 Open/Bond2.2
9.18
Putnam OTC & Emerging Growth Fund; A 11/1/82 Open/Equity
"2,664.6"18.72
Putnam OTC & Emerging Growth Fund; B 7/15/93 Open/Equity
"1,333.8"17.95
Putnam OTC & Emerging Growth Fund; M 12/2/94 Open/Equity
242.5 18.36
Putnam OTC & Emerging Growth Fund; Y 7/12/96 Open/Equity
111.0 18.82
Putnam International Growth Fund; A 2/28/91 Open/Equity
"1,660.0"19.93
Putnam International Growth Fund; B 6/1/94 Open/Equity
"1,102.8"19.59
Putnam International Growth Fund; M 12/1/94 Open/Equity
130.1 19.80
Putnam International Growth Fund; Y 7/12/96 Open/Equity
146.7 19.98
Putnam Pennsylvania Tax Exempt Income Fund; A 7/21/89
Open/Bond184.7 9.41
Putnam Pennsylvania Tax Exempt Income Fund; B 7/15/93
Open/Bond88.59.40
Putnam Pennsylvania Tax Exempt Income Fund; M 7/3/95
Open/Bond1.8 9.42
Putnam Preferred Income Fund; A 1/4/84 Open/Bond121.8
9.15
Putnam Preferred Income Fund; M 4/20/95 Open/Bond10.9
9.12
Putnam Tax - Free Income Trust Tax -
Free High Yield Fund; A 9/20/93 Open/Bond650.8 14.55
Putnam Tax - Free Income Trust Tax -
Free High Yield Fund B 9/9/85 Open/Bond"1,346.6"14.56
Putnam Tax - Free Income Trust Tax -
Free High Yield Fund M 12/29/94 Open/Bond17.914.55
Putnam Tax - Free Income Trust Tax -
Free Insured Fund; A 9/30/93 Open/Bond223.1 15.27
Putnam Tax - Free Income Trust Tax -
Free Insured Fund; B 9/9/85 Open/Bond333.5 15.29
Putnam Tax - Free Income Trust Tax -
Free Insured Fund; M 6/1/95 Open/Bond1.7 15.26
Putnam Tax Exempt Income Fund; A 12/31/76 Open/Bond
"1,988.3"9.13
Putnam Tax Exempt Income Fund; B 1/4/93 Open/Bond248.3
9.13
Putnam Tax Exempt Income Fund; M 2/16/95 Open/Bond9.9
9.15
Putnam Tax Exempt Money Market Fund 10/26/87 Open/Bond
84.01.00
Putnam U.S. Government Income Trust; A 2/8/84 Open/Bond
"2,095.9"13.07
Putnam U.S. Government Income Trust; B 4/27/92 Open/Bond
"1,237.4"13.02
Putnam U.S. Government Income Trust; M 2/6/95 Open/Bond
201.9 13.05
Putnam U.S. Government Income Trust; Y 4/11/94 Open/Bond6.5
13.07
Putnam Utilities Growth and Income Fund; A 11/19/90
Open/Balanced 721.1 13.35
Putnam Utilities Growth and Income Fund; B 4/27/92
Open/Balanced 759.7 13.27
Putnam Utilities Growth and Income Fund; M 3/1/95
Open/Balanced 11.013.33
Putnam Vista Fund; A 6/3/68 Open/Equity "3,232.8"
13.51
Putnam Vista Fund; B 3/1/93 Open/Equity "1,566.5"
12.93
Putnam Vista Fund; M 12/1/94 Open/Equity 129.7
13.25
Putnam Vista Fund; Y 3/28/95 Open/Equity 285.5
13.65
Putnam Voyager Fund II; A 4/14/93 Open/Equity 646.7
21.87
Putnam Voyager Fund II; B 10/2/95 Open/Equity 601.4
21.45
Putnam Voyager Fund II; M 10/2/95 Open/Equity 72.0
21.61
Putnam Voyager Fund; A 4/1/96 Open/Equity "13,785.6"
21.78
Putnam Voyager Fund; B 4/27/92 Open/Equity "7,336.2"
20.58
Putnam Voyager Fund; M 12/1/94 Open/Equity 322.9
21.38
Putnam Voyager Fund; Y 4/1/94 Open/Equity "1,489.9"
22.08
Putnam California Investment Grade Municipal Trust 11/27/92
Closed/Bond 70.815.37
Putnam Convertible Opportunities and Income Trust6/29/95
Closed/Bond 16.028.28
Putnam Dividend Income Fund 9/28/89 Closed/Bond 127.7
11.80
Putnam High Income Convertible and Bond Fund7/9/87
Closed/Bond 134.4 9.97
Putnam Investment Grade Municipal Trust; A 10/26/89
Closed/Bond 247.2 11.93
Putnam Investment Grade Municipal Trust; B 10/26/89
Closed/Bond 140.1 11.93
Putnam Investment Grade Municipal Trust II; A 11/27/92
Closed/Bond 188.8 14.14
Putnam Investment Grade Municipal Trust II; B 11/27/92
Closed/Bond 63.114.14
Putnam Investment Grade Municipal Trust III; A 11/29/93
Closed/Bond 53.313.30
Putnam Investment Grade Municipal Trust III; B 11/29/93
Closed/Bond 10.013.30
Putnam Managed High Yield Trust 6/25/93 Closed/Bond
112.8 15.02
Putnam Managed Municipal Income Trust; A 2/24/89
Closed/Bond 452.8 9.83
Putnam Managed Municipal Income Trust; B 2/24/89
Closed/Bond 175.1 9.83
Putnam Master Income Trust 12/28/87 Closed/Bond 493.0
9.29
Putnam Master Intermediate Income Trust4/29/88 Closed/Bond
864.6 8.65
Putnam Municipal Opportunities Trust; A5/28/93 Closed/Bond
227.0 14.05
Putnam Municipal Opportunities Trust; B5/28/93 Closed/Bond
121.2 14.05
Putnam New York Investment Grade Municipal Trust; A 11/27/92
Closed/Bond 39.713.96
Putnam New York Investment Grade Municipal Trust; B 11/27/92
Closed/Bond 10.013.96
Putnam Premier Income Trust 2/29/88 Closed/Bond
"1,246.3"8.89
Putnam Tax - Free Heath Care Fund 6/29/92 Closed/Bond
205.5 14.89
Putnam Growth Opportunities; A 10/2/95 Open/Equity
187.0 15.88
Putnam Growth Opportunities; B 8/1/97 Open/Equity
198.6 15.79
Putnam Growth Opportunities; M 8/1/97 Open/Equity
16.515.82
Putnam Strategic Income Fund; A 2/19/95 Open/Bond59.0
8.69
Putnam Strategic Income Fund; B 2/19/96 Open/Bond88.5
8.70
Putnam Strategic Income Fund; M 2/19/96 Open/Bond8.6
8.70
Putnam High Yield Total Return Fund; A 1/1/97 Open/Bond
27.29.10
Putnam High Yield Total Return Fund; B 1/1/97 Open/Bond
34.78.99
Putnam High Yield Total Return Fund; M 1/1/97 Open/Bond2.9
9.01
Putnam VT International Growth and Income; A1/1/97
Open/Balanced 286.8 13.61
Putnam VT International Growth and Income; B4/6/98
Open/Balanced "1,019.0"13.61
Putnam VT International New Opportunities Fund; A1/1/97
Open/Equity "3,144.7"11.60
Putnam VT International New Opportunities Fund; B4/30/98
Open/Equity "1,018.0"11.60
Putnam VT International Growth Fund; A 1/1/97 Open/Equity
225.7 13.66
Putnam VT International Growth Fund; B 4/30/98 Open/Equity
"1,016.0"13.66
Putnam Balanced Fund 10/2/95 Open/Balanced 3.2 12.22
Putnam Emerging Markets Fund; A 10/2/95 Open/Equity
52.610.16
Putnam Emerging Markets Fund; B 10/2/95 Open/Equity
40.210.05
Putnam Emerging Markets Fund; M 10/2/95 Open/Equity 3.7
10.08
Putnam California Tax Exempt Money Market Fund 10/26/87
Open/Bond30.61.00
Putnam High Yield Municipal Trust; A 5/25/89 Closed/Bond
201.3 9.19
Putnam High Yield Municipal Trust; B 5/25/89 Closed/Bond
45.09.19
Putnam New York Tax Exempt Money Market Fund10/26/87
Open/Bond37.01.00
Putnam International Growth and Income Fund; A 8/1/96
Open/Equity 389.2 12.56
Putnam International Growth and Income Fund; B 8/1/96
Open/Equity 393.9 12.49
Putnam International Growth and Income Fund; M 8/1/96
Open/Equity 37.712.53
Putnam Research Fund 10/2/95 Open/Equity 14.613.47
Putnam New Value Fund; A 1/3/95 Open/Equity 476.4
14.92
Putnam New Value Fund; B 2/26/96 Open/Equity 480.6
14.78
Putnam New Value Fund; M 2/26/96 Open/Equity 51.5
14.84
Putnam Global Growth and Income Fund; A1/3/95 Open/Equity
20.113.59
Putnam Global Growth and Income Fund; B1/3/95 Open/Equity
14.613.56
Putnam Global Growth and Income Fund; M1/3/95 Open/Equity
1.4 13.57
Putnam International Fund 12/28/95 Open/Equity 4.3
11.09
Putnam Japan Fund 12/28/95 Open/Equity 2.2 5.05
Putnam International Voyager Fund; A 12/28/95 Open/Equity
82.213.66
Putnam International Voyager Fund; B 10/30/96 Open/Equity
64.613.56
Putnam International Voyager Fund; M 10/30/96 Open/Equity
6.9 13.61
Putnam VT New Value Fund; A 1/2/97 Open/Equity 240.1
12.07
Putnam VT New Value Fund; B 4/30/98 Open/Equity
"1,014.0"12.07
Putnam VT Vista Fund; A 1/2/97 Open/Equity 229.9
14.02
Putnam VT Vista Fund; B 4/30/98 Open/Equity "1,019.0"
14.02
Putnam Equity 98 Fund 12/30/97 Open/Equity 4.6 11.02
Putnam High Yield Fund II; A 12/31/97 Open/Bond142.9
9.07
Putnam High Yield Fund II; B 12/31/97 Open/Bond221.2
9.06
Putnam High Yield Fund II; M 12/31/97 Open/Bond11.09.06
(5) Miscellaneous
There has been, or is, no litigation or fact which
had or would have, a material effect on the Investment
Management Company during the six months before the
filing of this report.
III. OUTLINE OF THE FINANCIAL STATUS OF THE FUND
Translation of unaudited semi-annual accounts will be
attached to the Japanese version of the Semi-annual
Report.
IV. OUTLINE OF THE FINANCIAL STATUS OF THE INVESTMENT
MANAGEMENT COMPANY
Translation of unaudited semi-annual accounts will be
attached to the Japanese version of the Semi-annual
Report.
AMENDMENT TO SECURITIES REGISTRATION STATEMENT
PUTNAM U.S. GOVERNMENT INCOME TRUST
AMENDMENT TO
SECURITIES REGISTRATION STATEMENT
To: Minister of Finance
Filing
Date: June 15, 1998
Name of the Registrant Trust: PUTNAM U.S. GOVERNMENT
INCOME TRUST
Name and Official Title of Trustees: George Putnam
William
F. Pounds
Jameson
A. Baxter
Hans H.
Estin
John A.
Hill
Ronald
J. Jackson
Paul L.
Joskow
Elizabeth T. Kennan
Lawrence J. Lasser
John H.
Mullin, III
Robert
E. Patterson
Donald
S. Perkins
George
Putnam, III
A.J.C.
Smith
W.
Thomas Stephens
W.
Nicholas Thorndike
Address of Principal Office: One Post Office Square
Boston,
Massachusetts 02109
U. S.
A.
Name and Title of Registration Agent: Harume Nakano
Attorney-at-Law
Signature [Harume Nakano]_
(Seal)
Ken
Miura
Attorney-at-Law
Signature [Ken Miura]_____
(Seal)
Address or Place of Business Kasumigaseki Building,
25th Floor
2-5,
Kasumigaseki 3-chome
Chiyoda-
ku, Tokyo
Name of Liaison Contact: Harume Nakano
Ken
Miura
Attorneys-at-Law
Place of Liaison Contact: Hamada & Matsumoto
Kasumigaseki Building, 25th
Floor
2-5,
Kasumigaseki 3-chome
Chiyoda-
ku, Tokyo
Phone Number: 03-3580-3377
- ii -
Public Offering or Sale for Registration
Name of the Fund Making Public PUTNAM U.S. GOVERNMENT
INCOME
Offering or Sale of Foreign TRUST
Investment Fund Securities:
Type and Aggregate Amount of Up to 76.1 million Class M
Shares
Foreign Investment Fund Securities Up to the total
amount aggregating the
to be Publicly Offered or Sold: amounts calculated by
multiplying the respective net
asset value per Class M Share by
the respective number of Class M
Shares in respect of 76.1
million Class M Shares
(The
maximum amount expected to be
sold is 1 billion U.S. dollars
(Yen131.5 billion).
Note 1: U.S.$ amount is translated into Japanese Yen at the
rate of U.S.$l.00=Yen32.40 the mean of the exchange rate
quotations by The Bank of Tokyo-Mitsubishi, Ltd. for
buying and selling spot dollars by telegraphic transfer
against yen on May 29, 1998.
Note 2: The maximum amount expected to be sold is an amount
calculated by multiplying the net asset value per Class M
Share as of May 29, 1998 (U.S.$13.05) by 76.1 million
Class M Shares for convenience.
Places where a copy of this Amendment to Securities
Registration
Statement is available for Public Inspection
Not applicable.
(Total number of pages of this Amendment to Securities
Registration
Statement is 5 including front and back pages.)
I. Reason For Filing This Amendment To Securities
Registration Statement:
This statement purports to amend and update the relevant
information of the Securities Registration Statement
("Original SRS") filed on March 16, 1998 due to the fact
that the aforementioned Semi-annual Report was filed
today.
The exchange rates used in this statement to translate
the amended amounts of foreign currencies are different
from those used before these amendments, as the latest
exchange rates are used in this statement.
II. Contents of the Amendments:
Part II. INFORMATION ON THE ISSUER (page 5 of the Original
SRS)
The following matters in the Original SRS are amended to
have the same contents as those provided in the following
items of the aforementioned Semi-annual Report:
Before amendment After amendment
[Original SRS] [Aforementioned Semi-annual
Report]
IDescription of the Fund I. Status of Investment
.Status of Investment Portfolio of the Fund
5Portfolio
.
(Diversification of (1 Diversification of
AInvestment Portfolio ) Investment Portfolio
) (the aforementioned Semi-
annual Report, page 1)
(Results of Past Operations (2 Results of Past Operations
B )
)
Record of Changes in Net Record of Changes in Net
(Assets (Class M Shares) a) Assets (Class M Shares)
1(Regarding the amounts as (Ditto, page 2)
)at the end of each month (Regarding the amounts as
during one-year period at the end of each month
from, and including, the during one-year period
latest relevant date from, and including, the
appertaining to the filing latest relevant date
date of the Original SRS) appertaining to the filing
date of the afore-mentioned
Semi-annual Report)
Record of Distributions Record of Distributions
(Paid (Class M Shares) b) Paid (Class M Shares)
2(Regarding the dividends (Ditto, page 2)
)paid at the end of each (Regarding the dividends
month up to the latest paid at the end of each
relevant date of the month up to the latest
Original SRS) relevant date of the afore-
mentioned Semi-annual
Report)
IOutline of the Fund II Outline of the Fund
I .
.
1Fund 1. Fund
.
(Amount of Capital Stock (1 Amount of Capital Stock
E ) (Ditto, page 4)
)
(Information Concerning (2 Information Concerning
GMajor Shareholders ) Major Shareholders (Ditto,
) page 4)
(Information Concerning (3 Information Concerning
HDirectors, Officers and ) Directors, Officers and
)Employees Employees (Ditto, page 4)
(Description of Business and (4 Description of Business and
IOutline of Operation ) Outline of Operation
) (Ditto, page 6)
2Putnam Investment 2. Putnam Investment
.Management, Inc. Management, Inc.
(Investment Management (Investment Management
Company) Company)
(Amount of Capital Stock (1 Amount of Capital Stock
E ) (Ditto, page 7)
)
(Information Concerning (2 Information Concerning
GMajor Stockholders ) Major Stockholders (Ditto,
) page 7)
(Information Concerning (3 Information Concerning
HOfficers and Employees ) Officers and Employees
) (Ditto, page 7)
(Summary of Business Lines (4 Summary of Business Lines
Iand Business Operation ) and Business Operation
) (Ditto, page 18)
With respect to Section IV the Financial Condition of the
Fund in the Original SRS, Item III Outline of the
Financial Status of the Fund in the aforementioned Semi-
annual Report (Ditto, page 29) is added to the Original
SRS.
Part III. SPECIAL INFORMATION (page 13 of the Original SRS)
With respect to Section II the Financial Condition of the
Investment Management Company in the Original SRS, Item
IV Outline of the Financial Status of the Investment
Management Company in the aforementioned Semi-annual
Report (Ditto, page 31) is added to the Original SRS.
