[H & M FINAL]
[Translation]
SEMI-ANNUAL REPORT
(The Sixth Term)
From: October 1, 1999
To: March 31, 2000
AMENDMENT TO SECURITIES REGISTRATION STATEMENT
(For NAV Sale)
PUTNAM U.S. GOVERNMENT INCOME TRUST
SEMI-ANNUAL REPORT
(The Sixth Term)
From: October 1, 1999
To: March 31, 2000
PUTNAM U.S. GOVERNMENT INCOME TRUST
SEMI-ANNUAL REPORT
(The Sixth Term)
From: October 1, 1999
To: March 31, 2000
<TABLE>
<CAPTION>
To: Director of Kanto Local Finance Bureau
<S> <C>
Filing Date: June 30, 2000
Filing Date of Amendment: July 4, 2000
Name of the Registrant Fund: PUTNAM U.S. GOVERNMENT INCOME TRUST
Name and Official Title of Representative Charles E. Porter
Of Trustees:
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
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 [ ] including the front page)
</TABLE>
CONTENTS
This Japanese
English Original
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 4 2
II. OUTLINE OF THE FUND
1. FUND 5 3
(1) Amount of Capital Stock 5 3
(2) Information Concerning Major Shareholders 5 3
(3) Information Concerning Directors, Officers
and Employees 5 3
(4) Description of Business and Outline of
Operation 8 5
(5) Miscellaneous 8 5
2. Putnam Investment Management, Inc.
(Investment Management Company) 8 5
(1) Amount of Capital Stock 8 5
(2) Information Concerning Major Shareholders 8 5
(3) Information Concerning Directors, Officers
and Employees 89 5
(4) Summary of Business Lines and Business
Operation 22 18
(5) Miscellaneous 34 37
III. OUTLINE OF THE FINANCIAL STATUS OF THE FUND 34 38
IV. OUTLINE OF THE FINANCIAL STATUS OF THE
INVESTMENT MANAGEMENT COMPANY 34 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:
-------------------------------------------------------------------------------
(As of the end of May 2000)
-------------------------------------------------------------------------------
Name of Investment Ratio
Types of Assets Country Total USD (%)
-------------------------------------------------------------------------------
U.S. Government Agency
Mortgages United States 2,556,178,922 95.76
-------------------------------------------------------------------------------
U.S. Treasury Obligations United States 74,072,370 2.77
-------------------------------------------------------------------------------
Cash, Deposit and Other 39,071,992 1.46
Assets (After deduction of
liabilities)
-------------------------------------------------------------------------------
Total 2,669,323,284 100.00
-------------------------------------------------------------------------------
(Net Asset Value) JPY 284,016 million
-------------------------------------------------------------------------------
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 ("USD" or "$") into Japanese Yen is
[YEN] 106.40 for one U.S. Dollar, which is the actual middle point
between the selling and buying currency rate by telegraphic transfer
on the May 31, 2000 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, simply multiplying the
corresponding amount does conversion into other currencies 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)
<TABLE>
<CAPTION>
Record of changes in net assets during the one-year period up to and including
the end of May 2000 is as follows:
--------------------------------------------------------------------------------------
Total Net Asset Value Net Asset Value per Share
--------------------------------------------------------------------------------------
USD (thousands) Yen (millions) USD Yen
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 End of June 137,966 14,680 12.62 1,343
--------------------------------------------------------------------------------------
July 135,232 14,389 12.49 1,329
--------------------------------------------------------------------------------------
August 132,965 14,147 12.43 1,323
--------------------------------------------------------------------------------------
September 133,362 14,190 12.55 1,335
--------------------------------------------------------------------------------------
October 130,865 13,924 12.53 1,333
--------------------------------------------------------------------------------------
November 123,713 13,163 12.47 1,327
--------------------------------------------------------------------------------------
December 118,722 12,632 12.32 1,311
--------------------------------------------------------------------------------------
2000 End of January 114,638 12,197 12.15 1,293
--------------------------------------------------------------------------------------
February 109,336 11,633 12.23 1,301
--------------------------------------------------------------------------------------
March 104,729 11,143 12.35 1,314
--------------------------------------------------------------------------------------
April 99,755 10,614 12.27 1,306
--------------------------------------------------------------------------------------
May 98,968 10,530 12.25 1,303
--------------------------------------------------------------------------------------
(Note) Operations of Class M Shares were comenced on February 6, 1995.
</TABLE>
b. Record of Distributions Paid (Class M Shares)
------------------------------------------------------------
Fiscal Year Amount paid per Share
------------------------------------------------------------
The Fifth Fiscal Year USD 0.76 (JPY80.864)
(10/1/98 - 9/30/99)
------------------------------------------------------------
(Note) Record of distribution paid during the period from
February 1995 through May 2000 are as follows:
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
Ex-dividend Dividend NAV per Ex-dividend Dividend NAV per
Date (USD) Share Date (USD) Share
(USD) (USD)
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1995 Feb. 6 0.074 12.29 1998 Jan. 12 0.068 13.12
------------------------------------------------------------------------------------
Mar. 6 0.076 12.26 Feb. 10 0.067 13.03
------------------------------------------------------------------------------------
Apr. 5 0.074 12.64 Mar. 10 0.067 13.01
------------------------------------------------------------------------------------
May 5 0.076 12.69 Apr. 13 0.066 12.99
------------------------------------------------------------------------------------
Jun. 5 0.075 12.89 May 11 0.066 12.97
------------------------------------------------------------------------------------
Jul. 5 0.074 12.83 Jun. 10 0.066 13.04
------------------------------------------------------------------------------------
Aug. 7 0.074 12.71 Jul. 10 0.066 13.03
------------------------------------------------------------------------------------
Sep. 5 0.074 12.84 Aug. 10 0.066 13.01
------------------------------------------------------------------------------------
Oct. 5 0.073 12.91 Sep. 11 0.066 13.10
------------------------------------------------------------------------------------
Nov. 6 0.072 12.97 Oct. 12 0.066 13.08
------------------------------------------------------------------------------------
Dec. 6 0.072 13.05 Nov. 10 0.066 13.02
------------------------------------------------------------------------------------
1996 Jan. 5 0.072 13.09 Dec. 10 0.066 13.08
------------------------------------------------------------------------------------
Feb. 5 0.072 13.11 1999 Jan. 11 0.066 13.01
------------------------------------------------------------------------------------
Mar. 8 0.070 12.70 Feb. 10 0.063 13.00
------------------------------------------------------------------------------------
Apr. 8 0.070 12.59 Mar. 10 0.063 12.87
------------------------------------------------------------------------------------
May 6 0.068 12.46 Apr. 12 0.063 12.93
------------------------------------------------------------------------------------
Jun. 7 0.066 12.44 May 10 0.063 12.82
------------------------------------------------------------------------------------
Jul. 5 0.065 12.39 Jun. 10 0.063 12.56
------------------------------------------------------------------------------------
Aug. 5 0.065 12.65 Jul. 12 0.063 12.61
------------------------------------------------------------------------------------
Sep. 6 0.064 12.42 Aug. 10 0.063 12.23
------------------------------------------------------------------------------------
Oct. 7 0.064 12.68 Sep. 10 0.063 12.48
------------------------------------------------------------------------------------
Nov. 5 0.064 12.80 Oct. 11 0.064 12.45
------------------------------------------------------------------------------------
Dec. 6 0.064 12.84 Nov. 10 0.063 12.50
------------------------------------------------------------------------------------
1997 Jan. 8 0.064 12.73 Dec. 10 0.063 12.49
------------------------------------------------------------------------------------
Feb. 7 0.065 12.82 2000 Jan. 10 0.064 12.20
------------------------------------------------------------------------------------
Mar. 7 0.065 12.75 Feb. 10 0.063 12.08
------------------------------------------------------------------------------------
Apr. 8 0.064 12.57 Mar. 10 0.064 12.18
------------------------------------------------------------------------------------
May 12 0.064 12.73 Apr. 10 0.063 12.37
------------------------------------------------------------------------------------
Jun. 10 0.066 12.78 May 10 0.063 12.11
------------------------------------------------------------------------------------
Jul. 11 0.066 12.90
------------------------------------------------------------------------------------
Aug. 11 0.067 12.85
------------------------------------------------------------------------------------
Sep. 10 0.066 12.86
------------------------------------------------------------------------------------
Oct. 10 0.066 12.93
------------------------------------------------------------------------------------
Nov. 10 0.067 12.96
------------------------------------------------------------------------------------
Dec. 10 0.070 13.01
------------------------------------------------------------------------------------
</TABLE>
(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 May and number of outstanding shares of the Fund as of the end of
May 2000 are as follows: (6/1/99-5/31/00)
-------------------------------------------------------------------------------
Number of Shares Sold Number of Shares Number of Outstanding
Repurchased Shares
-------------------------------------------------------------------------------
1,688,694 4,894,426 8,076,744
(781,300) (3,802,440) (6,925,380)
-------------------------------------------------------------------------------
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
<TABLE>
<CAPTION>
(1) Trustees and Officers of the Fund (as of May 31, 2000)
--------------------------------------------------------------------------------------
Shares
Name Office and Title Resume Owned
--------------------------------------------------------------------------------------
<S> <C> <C> <C>
George Putnam Chairman and present: Chairman and Director, 0
President Putnam Investment
Management and Putnam
Mutual Funds Corp.
Director, Freeport
Copper and Gold, Inc.,
Houghton Mifflin Company
and Marsh & McLennan
Companies, Inc.
--------------------------------------------------------------------------------------
John A. Hill Vice Chairman present: Chairman and Managing 556.027
Director, First Reserve
Corp. Director, Synder
Oil Corporation,
TransMontaigne Oil
Company and various
private companies owned
by First Reserve Corp.
--------------------------------------------------------------------------------------
William F. Pounds Vice Chairman present: Professor Emeritus of 1,519.284
Management, Alfred P.
Sloan School of
Management, Massachusetts
Institute of Technology,
Director, IDEXX
Laboratories, Inc.,
Management Sciences for
Health, Inc. and Sun
Company, Inc.
--------------------------------------------------------------------------------------
Jameson Adkins Trustee present: President, Baxter 150.474
Baxter Associates, Inc.,
Director, MB Financial,
Inc., ASHTA Chemicals,
Inc., Banta Corporation
and Ryerson Tull, Inc.
--------------------------------------------------------------------------------------
Hans H. Estin Trustee present: Vice Chairman, North 207.787
American Management Corp.
--------------------------------------------------------------------------------------
Ronald J. Jackson Trustee present: Former Chairman, 150.744
President and Chief
Executive Officer,
Fisher-Price, Inc.
--------------------------------------------------------------------------------------
Paul. L. Joskow Trustee present: Professor of Economics 132.298
and Management and former
Chairman of Dept. of
Economics, the
Massachusetts Institute
of Technology, Director
of New England Electric
System, State Farm
Indemnity Company and
Whitehead Institute for
Biomedical Research
--------------------------------------------------------------------------------------
Elizabeth T. Kennan Trustee present: President Emeritus and 264.294
Professor, Mount Holyoke
College, Director, Bell
Atlantic, The Kentucky
Home Life Insurance
Companies, Northern
Utilities and Talbots
--------------------------------------------------------------------------------------
Lawrence J. Lasser Trustee and Vice present: President, Chief 171.166
President Executive Officer and
Director Putnam
Investments, Inc. and
Putnam Investment
Management, Inc.
Director, Marsh &
McLennan Companies,
Inc. and United Way of
Massachusetts Bay
--------------------------------------------------------------------------------------
John H. Mullin, III Trustee present: Chairman and Chief 449.414
Executive Officer,
Ridgeway Farm
Director, ACX
Technologies, Inc.,
Alex. Brown Realty, Inc.,
The Liberty Corporation
and Carolina Power &
Light
--------------------------------------------------------------------------------------
Robert E. Patterson Trustee present: President and Trustee, 1,087.154
Cabot Industrial Trust
and Director of
Brandywine Trust
Company
--------------------------------------------------------------------------------------
George Putnam, III Trustee present: President, New 2,176.023
Generation Research,
Inc. and New Generation
Advisers, Inc.
Director, The Boston
Family Office L.L.C.
--------------------------------------------------------------------------------------
A.J.C. Smith Trustee present: Chairman and Chief 780.210
Executive Officer,
Marsh & McLennan
Companies, Inc.
Director, Trident
Partnership
--------------------------------------------------------------------------------------
W. Thomas Stephens Trustee present: President and Chief 119.094
Executive Officer of
MacMillan Bloedel,
Ltd. Director, Qwest
Communications and
New Century Energies
--------------------------------------------------------------------------------------
W. Nicholas Thorndike Trustee present: Director of various 171.166
corporations and
charitable organizations,
including Courier Corp.,
Data General Corp.,
Bradley Real Estate, Inc.
and Providence Journal Co.
--------------------------------------------------------------------------------------
Charles E. Porter Executive Vice present: Managing Director, 0
President Putnam Investments, Inc.
and Putnam Investment
Management, Inc.
--------------------------------------------------------------------------------------
Patricia C. Flaherty Senior Vice present: Senior Vice President 0
President of Putnam Investments,
Inc. and Putnam Investment
Management, Inc.
--------------------------------------------------------------------------------------
Richard A. Monaghan Vice President present: Managing Director, 0
Putnam Investments,
Inc., Chief of Mutual
Fund Business, Putnam
Mutual Funds Corp.
--------------------------------------------------------------------------------------
Ian C. Ferguson Vice President present: Senior Managing Director 0
of Putnam Investments,
Inc. and Putnam Investment
Management, Inc.
--------------------------------------------------------------------------------------
Gordon H. Silver Vice President present: Director and Senior 0
Managing Director of
Putnam Investments, Inc.
and Putnam Investment
Management, Inc.
--------------------------------------------------------------------------------------
John D. Hughes Senior Vice present Senior Vice President 0
President and of Putnam Investment
Treasurer Management, Inc.
--------------------------------------------------------------------------------------
Brett C. Browchuk Vice President present Managing Director of 0
Putnam Investment
Management, Inc.
--------------------------------------------------------------------------------------
John R. Verani Vice President present: Senior Vice President 0
of Putnam Investments,
Inc. and Putnam
Investment Management,
Inc.
--------------------------------------------------------------------------------------
Michael Martino Vice President present: Managing Director of 0
Putnam Investments, Inc.
--------------------------------------------------------------------------------------
Stephen Oristaglio Vice President present Managing Director of 0
Putnam Investment
Management, Inc.
--------------------------------------------------------------------------------------
Kevin M. Cronin Vice President present: Managing Director of 0
Putnam Investments, Inc.
--------------------------------------------------------------------------------------
Edward H. D'Alelio Vice President present: Managing Director, 0
Putnam Investment
Management, Inc.
--------------------------------------------------------------------------------------
Paul G. Bucuvalas Assistant present: N/A 0
Treasurer
--------------------------------------------------------------------------------------
Mary A. Eaton Associate present: N/A 0
Treasurer and
Assistant Clerk
--------------------------------------------------------------------------------------
Judith Cohen Associate Clerk present: N/A 0
--------------------------------------------------------------------------------------
Katharine Howard Senior Associate present: N/A 0
Treasurer
--------------------------------------------------------------------------------------
Wanda M McManus Assistant Clerk present: N/A 0
--------------------------------------------------------------------------------------
Joanne M. Neary Assistant Clerk present: N/A 0
--------------------------------------------------------------------------------------
</TABLE>
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 1,000 (as of May 31, 2000)
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 1994 $48,149,491
End of 1995 $45,521,351
End of 1996 $45,817,658
End of 1997 $48,617,160
End of 1998 $425,782,007
End of 1999 $879,639,862
(2) Information Concerning Major Stockholders
As of the end of May 2000, Putnam Investments, Inc owned all the outstanding
shares of capital stock of Investment Management Company.
(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:
<TABLE>
<CAPTION>
List of Officers and Directors of Putnam Investment Management, Inc.
(as of the end of May 2000)
--------------------------------------------------------------------------------------
Position with
Putnam
Investment
Management,
Name Inc. Other Business Affiliation
--------------------------------------------------------------------------------------
<S> <C> <C>
1 Putnam, George Chairman Director of Putnam Mutual Funds Corp.
--------------------------------------------------------------------------------------
2 Lasser, Lawrence J. President and
Director, CEO
--------------------------------------------------------------------------------------
3 Silver, Gordon H. Director and Director of Putnam Fiduciary Trust
Senior Managing Company and Senior Managing Director
Director of Putnam Mutual Funds Corp.
--------------------------------------------------------------------------------------
4 Collman, Kathleen M. Senior Managing Senior Managing Director of Putnam
Director Mutual Funds Corp.
--------------------------------------------------------------------------------------
5 Durgarian, Karnig H. Senior Managing Director and Managing Director of
Director Putnam Fiduciary Trust Company
--------------------------------------------------------------------------------------
6 Esteves, Irene M. Senior Managing Director of Putnam Fiduciary Trust
Director and Company
Chief Financial
Officer
--------------------------------------------------------------------------------------
7 Ferguson, Ian C. Senior Managing Senior Managing Director of Putnam
Director Mutual Funds Corp.
--------------------------------------------------------------------------------------
8 Oristaglio, Stephen Senior Managing
Director
--------------------------------------------------------------------------------------
9 Regan, Anthony W. Senior Managing
Director
--------------------------------------------------------------------------------------
10 Spiegel, Steven Senior Managing Senior Managing Director of Putnam
Director Mutual Funds Corp.
--------------------------------------------------------------------------------------
11 Anderson, Blake E. Managing
Director
--------------------------------------------------------------------------------------
12 Beck, Robert R. Managing
Director
--------------------------------------------------------------------------------------
13 Boneparth, John F. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
14 Bradford Jr, Linwood Managing
Director
--------------------------------------------------------------------------------------
15 Bresnahan, Leslee R. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
16 Browchuk, Brett C. Managing
Director
--------------------------------------------------------------------------------------
17 Cassaro, Joseph A. Managing
Director
--------------------------------------------------------------------------------------
18 Cotner, C. Beth Managing
Director
--------------------------------------------------------------------------------------
19 Cronin, Kevin M. Managing Managing Director of Putnam
Director Fiduciary Trust Company
--------------------------------------------------------------------------------------
20 D'Alelio, Edward H. Managing
Director
--------------------------------------------------------------------------------------
21 Daly, Kenneth L. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
22 DeTore, John A. Managing Managing Director of Putnam
Director Fiduciary Trust Company
--------------------------------------------------------------------------------------
23 Gillis, Roland Managing
Director
--------------------------------------------------------------------------------------
24 Haslett, Thomas R. Managing
Director
--------------------------------------------------------------------------------------
25 Holding, Pamela Managing
Director
--------------------------------------------------------------------------------------
26 Hurley, William J. Managing Managing Director and CFO of Putnam
Director Mutual Funds Corp.
--------------------------------------------------------------------------------------
27 Jacobs, Jerome J. Managing
Director
--------------------------------------------------------------------------------------
28 Joseph, Joseph P. Managing
Director
--------------------------------------------------------------------------------------
29 Kamshad, Omid Managing
Director
--------------------------------------------------------------------------------------
30 Kanwal, Amrit Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
31 King, David L. Managing
Director
--------------------------------------------------------------------------------------
32 Kohli, D. William Managing
Director
--------------------------------------------------------------------------------------
33 Kuenstner, Deborah F. Managing
Director
--------------------------------------------------------------------------------------
34 Landes, William J. Managing
Director
--------------------------------------------------------------------------------------
35 Leibovitch, Richard G. Managing
Director
--------------------------------------------------------------------------------------
36 Leichter, Jennifer E. Managing
Director
--------------------------------------------------------------------------------------
37 Lindsey, Jeffrey Managing
Director
--------------------------------------------------------------------------------------
38 Lohr, Mark G. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
39 MacElwee Jones, Managing
Elizabeth M. Director
--------------------------------------------------------------------------------------
40 Maloney, Kevin J. Managing
Director
--------------------------------------------------------------------------------------
41 Martens, Erwin W. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
42 Martino, Michael Managing Managing Director of Putnam
Director Fiduciary Trust Company
--------------------------------------------------------------------------------------
43 McMullen, Carol C. Managing
Director
--------------------------------------------------------------------------------------
44 Memani, Krisha K. Managing
Director
--------------------------------------------------------------------------------------
45 Miller, Daniel L. Managing
Director
--------------------------------------------------------------------------------------
46 Miller, Jeffrey M. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
47 Morgan Jr., John J. Managing Managing Director of Putnam
Director Fiduciary Trust Company
--------------------------------------------------------------------------------------
48 Morgan, Kelly A. Managing
Director
--------------------------------------------------------------------------------------
49 Morris, Dirk Managing
Director
--------------------------------------------------------------------------------------
50 Mufson, Michael J. Managing
Director
--------------------------------------------------------------------------------------
51 Murphy, Jennifer P. Managing
Director
--------------------------------------------------------------------------------------
52 Nagashima, Toshio Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
53 Peacher, Stephen C. Managing
Director
--------------------------------------------------------------------------------------
54 Peters, Jeffrey F. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
55 Porter, Charles E. Managing
Director
--------------------------------------------------------------------------------------
56 Price, Quintin I. Managing
Director
--------------------------------------------------------------------------------------
57 Reilly, Thomas V. Managing
Director
--------------------------------------------------------------------------------------
58 Sai, Yumiko Managing
Director
--------------------------------------------------------------------------------------
59 Schultz, Mitchell D. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
60 Scott, Justin M. Managing Managing Director of Putnam
Director Fiduciary Trust Company
--------------------------------------------------------------------------------------
61 Shadek Jr., Edward T. Managing
Director
--------------------------------------------------------------------------------------
62 Smith Jr, Leo J. Managing
Director
--------------------------------------------------------------------------------------
63 Starr, Loren M. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
64 Swift, Robert Managing
Director
--------------------------------------------------------------------------------------
65 Talanian, John C. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
66 Thomsen, Rosemary H. Managing
Director
--------------------------------------------------------------------------------------
67 Tibbetts, Richard B. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
68 Waldman, David L. Managing
Director
--------------------------------------------------------------------------------------
69 Warren, Paul C. Managing
Director
--------------------------------------------------------------------------------------
70 Weiss, Manuel Managing
Director
--------------------------------------------------------------------------------------
71 Wetlaufer, Eric Managing
Director
--------------------------------------------------------------------------------------
72 Woolverton, William H. Managing Managing Director of Putnam Mutual
Director Funds Corp.
--------------------------------------------------------------------------------------
73 Allansmith, Lauren L. Senior Vice
President
--------------------------------------------------------------------------------------
74 Arends, Michael K. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
75 Asher, Steven E. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
76 Atkin, Michael J. Senior Vice
President
--------------------------------------------------------------------------------------
77 Augustine, Jeffrey B. Senior Vice
President
--------------------------------------------------------------------------------------
78 Bakshi, Manjit S. Senior Vice
President
--------------------------------------------------------------------------------------
79 Baldasarre, Michele C. Senior Vice
President
--------------------------------------------------------------------------------------
80 Bamford, Dolores Snyder Senior Vice
President
--------------------------------------------------------------------------------------
81 Bell, Carl D. Senior Vice
President
--------------------------------------------------------------------------------------
82 Bent, John J. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
83 Block, Richard L. Senior Vice
President
--------------------------------------------------------------------------------------
84 Bloemker, Rob A. Senior Vice
President
--------------------------------------------------------------------------------------
85 Boselli, John A. Senior Vice
President
--------------------------------------------------------------------------------------
86 Bray, Jeffrey Senior Vice
President
--------------------------------------------------------------------------------------
87 Bukovac, Ronald J. Senior Vice
President
--------------------------------------------------------------------------------------
88 Burke, Andrea Senior Vice
President
--------------------------------------------------------------------------------------
89 Burns, Cheryl A. Senior Vice
President
--------------------------------------------------------------------------------------
90 Byrne, Joshua L. Senior Vice
President
--------------------------------------------------------------------------------------
91 Callahan, Ellen S. Senior Vice
President
--------------------------------------------------------------------------------------
92 Carlson, David G. Senior Vice
President
--------------------------------------------------------------------------------------
93 Chase, Mary Claire Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
94 Chrostowski, Louis F. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
95 Crane III, George H. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
96 Curran, Peter J. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
97 Dalferro, John R. Senior Vice
President
--------------------------------------------------------------------------------------
98 Derbyshire, Ralph C. Senior Vice Senior Vice President of Putnam
President Fiduciary Trust Company
--------------------------------------------------------------------------------------
99 Dexter, Stephen P. Senior Vice
President
--------------------------------------------------------------------------------------
100 Divney, Kevin M. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
101 Donaldson, Scott M. Senior Vice
President
--------------------------------------------------------------------------------------
102 Eigerman, Nathan W. Senior Vice
President
--------------------------------------------------------------------------------------
103 Elavia, Tony H. Senior Vice
President
--------------------------------------------------------------------------------------
104 England, Richard B. Senior Vice
President
--------------------------------------------------------------------------------------
105 Epke Laura L. Senior Vice
President
--------------------------------------------------------------------------------------
106 Farrell, Deborah S. Senior Vice
President
--------------------------------------------------------------------------------------
107 Ferry, John A. Senior Vice
President
--------------------------------------------------------------------------------------
108 Flaherty, Patricia C. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
109 Fleisher, Peter M. Senior Vice
President
--------------------------------------------------------------------------------------
110 Fontana, Forrest N. Senior Vice
President
--------------------------------------------------------------------------------------
111 Francis, Jonathan H. Senior Vice
President
--------------------------------------------------------------------------------------
112 Fraser, Henrietta Senior Vice
President
--------------------------------------------------------------------------------------
113 Frost, Karen T. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
114 Frucci, Richard M. Senior Vice Senior Vice President of Putnam
President Fiduciary Trust Company
--------------------------------------------------------------------------------------
115 Gorman, Stephen A. Senior Vice
President
--------------------------------------------------------------------------------------
116 Graham, Andrew Senior Vice
President
--------------------------------------------------------------------------------------
117 Grant, Peter J. Senior Vice Senior Vice President of Putnam
President Fiduciary Trust Company
--------------------------------------------------------------------------------------
118 Graviere, Patrice Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
119 Grim, Daniel J. Senior Vice
President
--------------------------------------------------------------------------------------
120 Haagensen, Paul E. Senior Vice
President
--------------------------------------------------------------------------------------
121 Hadas, Edward Senior Vice
President
--------------------------------------------------------------------------------------
122 Hadden, Peter J. Senior Vice
President
--------------------------------------------------------------------------------------
123 Halperin, Matthew C. Senior Vice
President
--------------------------------------------------------------------------------------
124 Hamlin, David E. Senior Vice
President
--------------------------------------------------------------------------------------
125 Harring, Linda Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
126 Hart, Nigel P. Senior Vice
President
--------------------------------------------------------------------------------------
127 Healey, Deborah R. Senior Vice
President
--------------------------------------------------------------------------------------
128 Hoey, Thomas J. Senior Vice
President
--------------------------------------------------------------------------------------
129 Horwitz, Jonathan S. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
130 Hotchkiss, Michael F. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
131 Kaufman, Jeffrey Senior Vice
President
--------------------------------------------------------------------------------------
132 Kay, Karen R. Senior Vice Clerk, Director and Senior Vice
President President of Putnam Fiduciary Trust
Company
--------------------------------------------------------------------------------------
133 Kennedy, Catherine A. Senior Vice
President
--------------------------------------------------------------------------------------
134 Kins, William P. Senior Vice
President
--------------------------------------------------------------------------------------
135 Kirson, Steven L. Senior Vice
President
--------------------------------------------------------------------------------------
136 Knight, Jeffrey L. Senior Vice
President
--------------------------------------------------------------------------------------
137 Koontz, Jill A. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
--------------------------------------------------------------------------------------
138 Korn, Karen R. Senior Vice
President
--------------------------------------------------------------------------------------
139 Lannum III, Coleman N. Senior Vice
President
--------------------------------------------------------------------------------------
140 Lemire, Kevin Senior Vice
President
--------------------------------------------------------------------------------------
141 Lewis, Craig S. Senior Vice
President
--------------------------------------------------------------------------------------
142 Madore, Robert A. Senior Vice Senior Vice President of Putnam
President Fiduciary Trust Company
--------------------------------------------------------------------------------------
143 Malak, Saba Senior Vice
President
--------------------------------------------------------------------------------------
144 Malloy, Julie M. Senior Vice
President
--------------------------------------------------------------------------------------
145 Manuel Jr., Richard D. Senior Vice
President
--------------------------------------------------------------------------------------
146 Marrkand, Paul E. Senior Vice
President
--------------------------------------------------------------------------------------
147 Marshall, William L. Senior Vice
President
--------------------------------------------------------------------------------------
148 Matteis, Andrew S. Senior Vice
President
--------------------------------------------------------------------------------------
149 McDonald, Richard E. Senior Vice
President
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150 Meehan, Thalia Senior Vice
President
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151 Mehta, Sandeep Senior Vice
President
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152 Miller, Christopher G. Senior Vice
President
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153 Mockard, Jeanne L. Senior Vice
President
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154 Moore, Gerald Senior Vice
President
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155 Mullen, Donald E. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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156 Mullin, Hugh H. Senior Vice
President
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157 Murphy, Kevin F. Senior Vice
President
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158 Netols, Jeffrey W. Senior Vice Senior Vice President of Putnam
President Fiduciary Trust Company
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159 O'Brien, Lois C. Senior Vice
President
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160 O'Connell, Stephen P. Senior Vice
President
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161 Oler, Stephen S. Senior Vice
President
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162 Paine, Robert M. Senior Vice
President
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163 Pampliesa, Carlos Senior Vice
President
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164 Parker, Margery C. Senior Vice
President
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165 Parr, Cynthia O. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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166 Perry, William Senior Vice
President
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167 Peters, Carmel Senior Vice
President
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168 Petralia, Randolph S. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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169 Plapinger, Keith Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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170 Pohl, Charles G. Senior Vice
President
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171 Prusko, James M. Senior Vice Senior Vice President of Putnam
President Fiduciary Trust Company
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172 Puddle, David G. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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173 Quistberg, Paul T. Senior Vice
President
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174 Rogers, Kevin J. Senior Vice
President
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175 Ruys de Perez, Charles Senior Vice Senior Vice President of Putnam
A. President Fiduciary Trust Company
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176 Salm, Michael V. Senior Vice
President
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177 Santos, David J. Senior Vice Senior Vice President of Putnam
President Fiduciary Trust Company
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178 Santosus, Anthony C. Senior Vice
President
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179 Scanlon, Michael M. Senior Vice
President
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180 Schwister, Jay E. Senior Vice Senior Vice President of Putnam
President Fiduciary Trust Company
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181 Scordato, Christine A. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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182 Scully, Walter D. Senior Vice
President
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183 Selden, Denise D. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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184 Sievert, Jean I. Senior Vice
President
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185 Simon, Sheldon N. Senior Vice
President
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186 Simozar, Saied Senior Vice
President
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187 Smith, Margaret D. Senior Vice
President
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188 Spatz, Erin J. Senior Vice
President
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189 Spiers, John Graham Senior Vice
President
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190 Stack, Michael P. Senior Vice
President
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191 Stairs, George W. Senior Vice
President
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192 Sugimoto, Toshifumi Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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193 Sullivan, Roger R. Senior Vice
President
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194 Sullivan, William J. Senior Vice
President
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195 Suzuki, Toshimi Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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196 Svensson, Lisa H. Senior Vice
President
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197 Swanberg, Charles H. Senior Vice
President
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198 Temple, Michael Senior Vice
President
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199 Troped Blacker, Bonnie Senior Vice Senior Vice President of Putnam
L. President Mutual Funds Corp.
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200 Verani, John R. Senior Vice Senior Vice President of Putnam
President Fiduciary Trust Company
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201 Vlieberg, Vincent Senior Vice
President
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202 Walsh, Francis P. Senior Vice
President
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203 Weinstein, Michael R. Senior Vice
President
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204 Whalen, Edward F. Senior Vice Senior Vice President of Putnam
President Mutual Funds Corp.
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205 Weiss, James C. Senior Vice
President
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206 Williams, Fayval S. Senior Vice
President
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207 Wyke, Richard P. Senior Vice
President
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208 Yogg, Michael R. Senior Vice
President
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</TABLE>
(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 May 2000, Investment Management Company managed, advised,
and/or administered the following 117 funds and fund portfolios (having
an aggregate net asset value of approximately 381.83 billion)
[Fund List] - Please give us the end of May list.
<TABLE>
<CAPTION>
(As of May 31, 2000)
Year/Month/ Total Net Net Asset
Day Principal Asset Value Value per
Name Established Characteristics ($ million) share ($)
<S> <C> <C> <C> <C> <C>
1 The George Putnam Fund of Boston; A 11/5/37 Open/Equity 3,215.59 16.11
2 The George Putnam Fund of Boston; B 4/24/92 Open/Equity 1,253.94 15.98
3 The George Putnam Fund of Boston; M 12/1/94 Open/Equity 238.37 15.98
4 The George Putnam Fund of Boston; Y 1/1/94 Open/Equity 706.43 16.14
5 Putnam American Government Income Fund; A 3/1/85 Open/Bond 1,403.36 8.22
6 Putnam American Government Income Fund; B 5/20/94 Open/Bond 115.05 8.19
7 Putnam American Government Income Fund; M 2/14/95 Open/Bond 6.55 8.25
8 Putnam Asia Pacific Growth Fund; A 2/20/91 Open/Equity 266.34 13.81
9 Putnam Asia Pacific Growth Fund; B 6/1/93 Open/Equity 212.99 13.50
10 Putnam Asia Pacific Growth Fund; M 2/1/95 Open/Equity 12.23 13.66
11 Putnam Asia Pacific Fund II 3/23/98 Open/Equity 4.24 11.66
12 Putnam Asset Allocation: Balanced Portfolio; A 2/7/94 Open/Balanced 1,204.84 12.45
13 Putnam Asset Allocation: Balanced Portfolio; B 2/11/94 Open/Balanced 543.67 12.36
14 Putnam Asset Allocation: Balanced Portfolio; C 9/1/94 Open/Balanced 135.38 12.29
15 Putnam Asset Allocation: Balanced Portfolio; M 2/6/95 Open/Balanced 75.98 12.41
16 Putnam Asset Allocation: Balanced Portfolio; Y 7/14/94 Open/Balanced 506.67 12.46
17 Putnam Asset Allocation: Conservative Portfolio; A 2/7/94 Open/Balanced 340.77 10.17
18 Putnam Asset Allocation: Conservative Portfolio; B 2/18/94 Open/Balanced 176.22 10.14
19 Putnam Asset Allocation: Conservative Portfolio; C 9/1/94 Open/Balanced 42.66 10.12
20 Putnam Asset Allocation: Conservative Portfolio; M 2/7/95 Open/Balanced 24.07 10.14
21 Putnam Asset Allocation: Conservative Portfolio; Y 7/14/94 Open/Balanced 181.30 10.19
22 Putnam Asset Allocation: Growth Portfolio; A 2/8/94 Open/Balanced 789.59 14.16
23 Putnam Asset Allocation: Growth Portfolio; B 2/16/94 Open/Balanced 485.26 13.93
24 Putnam Asset Allocation: Growth Portfolio; C 9/1/94 Open/Balanced 126.01 13.81
25 Putnam Asset Allocation: Growth Portfolio; M 2/1/95 Open/Balanced 65.29 13.96
26 Putnam Asset Allocation: Growth Portfolio; Y 7/14/94 Open/Balanced 455.00 14.25
27 Putnam Arizona Tax Exempt Income Fund; A 1/30/91 Open/Bond 90.76 8.54
28 Putnam Arizona Tax Exempt Income Fund; B 7/15/93 Open/Bond 28.18 8.53
29 Putnam Arizona Tax Exempt Income Fund; M 7/3/95 Open/Bond 0.85 8.55
30 Putnam Balanced Retirement Fund; A 4/19/85 Open/Balanced 558.97 9.65
31 Putnam Balanced Retirement Fund; B 2/1/94 Open/Balanced 145.20 9.56
32 Putnam Balanced Retirement Fund; M 3/17/95 Open/Balanced 12.48 9.59
33 Putnam Balanced Retirement Fund; Y 1/4/99 Open/Balanced 2.25 9.65
34 Putnam Balanced Fund; A 10/2/95 Open/Balanced 10.42 13.26
35 Putnam Balanced Fund; B 4/3/00 Open/Balanced 0.92 13.26
36 Putnam Balanced Fund; C 4/3/00 Open/Balanced 0.04 13.26
37 Putnam Balanced Fund; M 4/3/00 Open/Balanced 0.26 13.26
38 Putnam California Investment Grade Municipal Trust 11/27/92 Closed/Bond 64.55 14.01
39 Putnam California Tax Exempt Income Fund; A 4/29/83 Open/Bond 2,463.81 8.01
40 Putnam California Tax Exempt Income Fund; B 1/4/93 Open/Bond 530.63 8.00
41 Putnam California Tax Exempt Income Fund; M 2/14/95 Open/Bond 15.18 8.00
42 Putnam California Tax Exempt Money Market Fund 10/26/87 Open/Bond 26.08 1.00
43 Putnam Capital Opportunities Fund; A 8/5/93 Open/Equity 86.99 8.85
44 Putnam Capital Opportunities Fund; B 11/2/94 Open/Equity 89.26 8.75
45 Putnam Capital Opportunities Fund; M 1/22/96 Open/Equity 6.88 8.78
46 Putnam Capital Appreciation Fund; A 8/5/93 Open/Equity 1,002.06 23.75
47 Putnam Capital Appreciation Fund; B 11/2/94 Open/Equity 1,047.14 23.39
48 Putnam Capital Appreciation Fund; M 1/22/96 Open/Equity 70.12 23.47
49 Putnam Convertible Opportunity and Income Trust 6/29/95 Closed/Bond 81.15 21.86
50 Putnam Classic Equity Fund; A 1/5/95 Open/Balanced 1,092.45 12.16
51 Putnam Classic Equity Fund; B 1/5/95 Open/Balanced 1,098.03 12.04
52 Putnam Classic Equity Fund; C 2/1/99 Open/Balanced 36.73 12.12
53 Putnam Classic Equity Fund; M 1/5/95 Open/Balanced 126.75 12.09
54 Putnam Convertible Income-Growth Trust; A 6/29/72 Open/Balanced 953.13 18.67
55 Putnam Convertible Income-Growth Trust; B 7/15/93 Open/Balanced 257.35 18.41
56 Putnam Convertible Income-Growth Trust; M 3/13/95 Open/Balanced 15.86 18.53
57 Putnam Convertible Income-Growth Trust; Y 12/30/98 Open/Balanced 58.83 18.68
58 Putnam Dividend Income Fund 9/28/89 Closed/Bond 113.17 10.45
59 Putnam Diversified Income Trust; A 10/3/88 Open/Bond 1,316.55 10.21
60 Putnam Diversified Income Trust; B 3/1/93 Open/Bond 1,327.63 10.17
61 Putnam Diversified Income Trust; C 2/1/99 Open/Bond 10.25 10.19
62 Putnam Diversified Income Trust; M 12/1/94 Open/Bond 900.37 10.17
63 Putnam Diversified Income Trust; Y 7/11/96 Open/Bond 9.37 10.23
64 Putnam Emerging Markets Fund; A 10/2/95 Open/Equity 82.97 10.48
65 Putnam Emerging Markets Fund; B 10/2/95 Open/Equity 53.24 10.36
66 Putnam Emerging Markets Fund; M 10/2/95 Open/Equity 3.93 10.40
67 Putnam Equity Fund 98 12/30/97 Open/Equity 22.60 20.16
68 Putnam Equity Income Fund; A 6/15/77 Open/Balanced 1,026.79 14.05
69 Putnam Equity Income Fund; B 9/13/93 Open/Balanced 491.80 13.94
70 Putnam Equity Income Fund; C 2/1/99 Open/Balanced 12.93 14.01
71 Putnam Equity Income Fund; M 12/2/94 Open/Balanced 51.57 13.96
72 Putnam Europe Growth Fund; A 9/7/90 Open/Equity 1,041.52 25.67
73 Putnam Europe Growth Fund; B 2/1/94 Open/Equity 844.18 25.00
74 Putnam Europe Growth Fund; C 7/26/99 Open/Equity 12.20 25.55
75 Putnam Europe Growth Fund; M 12/1/94 Open/Equity 79.06 25.48
76 Putnam Florida Tax Exempt Income Fund; A 8/24/90 Open/Bond 201.11 8.62
77 Putnam Florida Tax Exempt Income Fund; B 1/4/93 Open/Bond 70.80 8.62
78 Putnam Florida Tax Exempt Income Fund; M 5/1/95 Open/Bond 0.52 8.62
79 Putnam Global Natural Resources Fund; A 7/24/80 Open/Equity 205.43 21.21
80 Putnam Global Natural Resources Fund; B 2/1/94 Open/Equity 131.20 20.84
81 Putnam Global Natural Resources Fund; M 7/3/95 Open/Equity 6.86 21.07
82 Putnam Global Equity Trust; A 7/1/94 Open/Equity 592.91 17.26
83 Putnam Global Equity Trust; B 7/2/94 Open/Equity 657.48 16.88
84 Putnam Global Equity Trust; C 2/1/99 Open/Equity 32.78 17.13
85 Putnam Global Equity Trust; M 7/3/95 Open/Equity 55.00 17.02
86 Putnam Global Growth and Income Fund; A 1/3/95 Open/Equity 50.22 13.49
87 Putnam Global Growth and Income Fund; B 1/3/95 Open/Equity 35.89 13.33
88 Putnam Global Growth and Income Fund; M 1/3/95 Open/Equity 2.85 13.40
89 Putnam Global Governmental Income Trust; A 6/1/87 Open/Bond 101.31 11.11
90 Putnam Global Governmental Income Trust; B 2/1/94 Open/Bond 24.44 11.08
91 Putnam Global Governmental Income Trust; C 7/26/99 Open/Bond 0.28 11.09
92 Putnam Global Governmental Income Trust; M 3/17/95 Open/Bond 149.14 11.06
93 Putnam Global Growth Fund; A 9/1/67 Open/Equity 5,645.92 15.64
94 Putnam Global Growth Fund; B 4/27/92 Open/Equity 2,045.00 14.83
95 Putnam Global Growth Fund; C 2/1/99 Open/Equity 62.93 15.46
96 Putnam Global Growth Fund; M 3/1/95 Open/Equity 90.78 15.39
97 Putnam Global Growth Fund; Y 6/15/94 Open/Equity 244.82 15.95
98 The Putnam Fund for Growth and Income; A 11/6/57 Open/Balanced 19,622.60 18.75
99 The Putnam Fund for Growth and Income; B 4/27/92 Open/Balanced 10,716.15 18.47
100 The Putnam Fund for Growth and Income; M 5/1/95 Open/Balanced 386.09 18.62
101 The Putnam Fund for Growth and Income; Y 6/15/94 Open/Balanced 1,390.75 18.78
102 Putnam Growth Fund 5/1/98 Open/Equity 4.07 13.43
103 Putnam Growth Opportunities; A 10/2/95 Open/Equity 2,789.79 27.61
104 Putnam Growth Opportunities; B 8/1/97 Open/Equity 3,090.32 27.05
105 Putnam Growth Opportunities; C 2/1/99 Open/Equity 269.06 27.40
106 Putnam Growth Opportunities; M 8/1/97 Open/Equity 148.10 27.23
107 Putnam High Income Convertible and Bond Fund 7/9/87 Closed/Bond 108.42 7.92
108 Putnam High Yield Advantage Fund; A 3/25/86 Open/Bond 778.72 7.27
109 Putnam High Yield Advantage Fund; B 5/16/94 Open/Bond 633.94 7.24
110 Putnam High Yield Advantage Fund; M 12/1/94 Open/Bond 664.15 7.26
111 Putnam High Yield Advantage Fund; Y 12/30/98 Open/Bond 9.94 7.28
112 Putnam High Yield Fund II; A 12/31/97 Open/Bond 533.88 6.86
113 Putnam High Yield Fund II; B 12/31/97 Open/Bond 754.70 6.87
114 Putnam High Yield Fund II; M 12/31/97 Open/Bond 33.30 6.87
115 Putnam High Yield Trust; A 2/14/78 Open/Bond 2,108.82 9.64
116 Putnam High Yield Trust; B 3/1/93 Open/Bond 404.83 9.61
117 Putnam High Yield Trust; M 7/3/95 Open/Bond 11.50 9.64
118 Putnam High Yield Trust; Y 12/30/98 Open/Bond 16.95 9.64
119 Putnam Health Sciences Trust; A 5/28/82 Open/Equity 3,335.54 71.38
120 Putnam Health Sciences Trust; B 3/1/93 Open/Equity 2,423.78 67.94
121 Putnam Health Sciences Trust; M 7/3/95 Open/Equity 102.69 69.86
122 Putnam Health Sciences Trust; Y 4/4/00 Open/Equity 20.77 71.41
123 Putnam High Yield Municipal Trust 5/25/89 Closed/Bond 176.25 7.95
124 Putnam Income Fund; A 11/1/54 Open/Bond 938.95 6.15
125 Putnam Income Fund; B 3/1/93 Open/Bond 381.10 6.12
126 Putnam Income Fund; C 7/26/99 Open/Bond 6.23 6.14
127 Putnam Income Fund; M 12/14/94 Open/Bond 1,213.66 6.12
128 Putnam Income Fund; Y 2/12/94 Open/Bond 217.46 6.17
129 Putnam Intermediate U.S. Government Income Fund; A 2/16/93 Open/Bond 222.45 4.74
130 Putnam Intermediate U.S. Government Income Fund; B 2/16/93 Open/Bond 106.19 4.75
131 Putnam Intermediate U.S. Government Income Fund; M 4/3/95 Open/Bond 9.29 4.76
132 Putnam Intermediate U.S. Government Income Fund; Y 10/1/97 Open/Bond 108.52 4.74
133 Putnam International Fund 12/28/95 Open/Equity 7.55 12.63
134 Putnam International Growth and Income Fund; A 8/1/96 Open/Equity 541.26 11.93
135 Putnam International Growth and Income Fund; B 8/1/96 Open/Equity 456.17 11.79
136 Putnam International Growth and Income Fund; C 2/1/99 Open/Equity 20.58 11.88
137 Putnam International Growth and Income Fund; M 8/1/96 Open/Equity 39.78 11.88
138 Putnam International Growth Fund; A 2/28/91 Open/Equity 6,402.27 28.01
139 Putnam International Growth Fund; B 6/1/94 Open/Equity 3,279.63 27.37
140 Putnam International Growth Fund; M 12/1/94 Open/Equity 342.09 27.73
141 Putnam International Growth Fund; Y 7/12/96 Open/Equity 908.24 28.13
142 Putnam International New Opportunities Fund; A 1/3/95 Open/Equity 1,547.91 20.45
143 Putnam International New Opportunities Fund; B 7/21/95 Open/Equity 1,516.29 19.78
144 Putnam International New Opportunities Fund; C 2/1/99 Open/Equity 69.25 20.26
145 Putnam International New Opportunities Fund; M 7/21/95 Open/Equity 120.20 20.04
146 Putnam International Voyager Fund; A 12/28/95 Open/Equity 1,025.54 24.90
147 Putnam International Voyager Fund; B 10/30/96 Open/Equity 770.94 24.52
148 Putnam International Voyager Fund; M 10/30/96 Open/Equity 58.51 24.69
149 Putnam Investment Grade Municipal Trust I 10/26/89 Closed/Bond 217.08 10.28
150 Putnam Investment Grade Municipal Trust II 11/27/92 Closed/Bond 165.50 12.39
151 Putnam Investment Grade Municipal Trust III 11/29/93 Closed/Bond 48.12 12.01
152 Putnam Investors Fund; A 12/1/25 Open/Equity 7,993.98 17.73
153 Putnam Investors Fund; B 3/1/93 Open/Equity 4,376.18 16.82
154 Putnam Investors Fund; M 12/2/94 Open/Equity 263.80 17.30
155 Putnam Investors Fund; Y 1/7/97 Open/Equity 1,308.12 17.84
156 Putnam Latin America Fund 3/23/98 Open/Equity 2.84 7.40
157 Putnam Massachusetts Tax Exempt Income Fund; A 10/23/89 Open/Bond 259.58 8.74
158 Putnam Massachusetts Tax Exempt Income Fund; B 7/15/93 Open/Bond 109.41 8.73
159 Putnam Massachusetts Tax Exempt Income Fund; M 5/12/95 Open/Bond 4.17 8.74
160 Putnam Master Income Trust 4/29/88 Closed/Bond 393.54 7.41
161 Putnam Managed High Yield Trust 6/25/93 Closed/Bond 81.90 10.91
162 Putnam Michigan Tax Exempt Income Fund; A 10/23/89 Open/Bond 116.90 8.38
163 Putnam Michigan Tax Exempt Income Fund; B 7/15/93 Open/Bond 40.06 8.36
164 Putnam Michigan Tax Exempt Income Fund; M 4/17/95 Open/Bond 2.01 8.37
165 Putnam Mid-Cap Value Fund 11/1/99 Open/Balanced 4.22 9.61
166 Putnam Minnesota Tax Exempt Income Fund; A 10/23/89 Open/Bond 86.87 8.31
167 Putnam Minnesota Tax Exempt Income Fund; B 7/15/93 Open/Bond 45.31 8.29
168 Putnam Minnesota Tax Exempt Income Fund; M 4/3/95 Open/Bond 2.19 8.31
169 Putnam Managed Municipal Income Trust 2/24/89 Closed/Bond 388.58 8.30
170 Putnam Money Market Fund; A 10/1/76 Open/Bond 3,483.96 1.00
171 Putnam Money Market Fund; B 4/27/92 Open/Bond 743.45 1.00
172 Putnam Money Market Fund; C 2/1/99 Open/Bond 33.05 1.00
173 Putnam Money Market Fund; M 12/8/94 Open/Bond 99.98 1.00
174 Putnam Master Intermediate Income Trust 4/29/88 Closed/Bond 718.11 7.17
175 Putnam Municipal Income Fund; A 5/22/89 Open/Bond 690.95 8.42
176 Putnam Municipal Income Fund; B 1/4/93 Open/Bond 400.59 8.41
177 Putnam Municipal Income Fund; C 2/1/99 Open/Bond 8.64 8.42
178 Putnam Municipal Income Fund; M 12/1/94 Open/Bond 12.84 8.41
179 Putnam Municipal Opportunities Trust 5/28/93 Closed/Bond 198.99 12.32
180 Putnam New Century Growth Fund; A 1/21/00 Open/Equity 656.96 20.86
181 Putnam New Century Growth Fund; B 1/21/00 Open/Equity 551.67 20.81
182 Putnam New Century Growth Fund; C 1/21/00 Open/Equity 112.55 20.81
183 Putnam New Century Growth Fund; M 1/21/00 Open/Equity 30.20 20.83
184 Putnam New Opportunities Fund; A 8/31/90 Open/Equity 18,833.34 85.29
185 Putnam New Opportunities Fund; B 3/1/93 Open/Equity 10,843.78 80.44
186 Putnam New Opportunities Fund; M 12/1/94 Open/Equity 682.43 82.70
187 Putnam New Opportunities Fund; Y 7/19/94 Open/Equity 2,095.62 86.75
188 Putnam New Value Fund; A 1/3/96 Open/Equity 319.23 12.46
189 Putnam New Value Fund; B 2/26/96 Open/Equity 312.93 12.33
190 Putnam New Value Fund; M 2/26/96 Open/Equity 29.72 12.40
191 Putnam New Jersey Tax Exempt Income Fund; A 2/20/90 Open/Bond 174.05 8.47
192 Putnam New Jersey Tax Exempt Income Fund; B 1/4/93 Open/Bond 84.37 8.46
193 Putnam New Jersey Tax Exempt Income Fund; M 5/1/95 Open/Bond 0.68 8.46
194 Putnam New York Investment Grade Municipal Trust 11/27/92 Closed/Bond 36.16 12.70
195 Putnam New York Tax Exempt Income Fund; A 9/2/83 Open/Bond 1,256.80 8.15
196 Putnam New York Tax Exempt Income Fund; B 1/4/93 Open/Bond 171.58 8.14
197 Putnam New York Tax Exempt Income Fund; M 4/10/95 Open/Bond 1.54 8.16
198 Putnam New York Tax Exempt Money Market Fund 10/26/87 Open/Bond 41.93 1.00
199 Putnam New York Tax Exempt Opportunities Fund; A 11/7/90 Open/Bond 124.61 8.27
200 Putnam New York Tax Exempt Opportunities Fund; B 2/1/94 Open/Bond 58.91 8.27
201 Putnam New York Tax Exempt Opportunities Fund; M 2/10/95 Open/Bond 2.11 8.26
202 Putnam Ohio Tax Exempt Income Fund; A 10/23/89 Open/Bond 149.49 8.29
203 Putnam Ohio Tax Exempt Income Fund; B 7/15/93 Open/Bond 48.43 8.28
204 Putnam Ohio Tax Exempt Income Fund; M 4/3/95 Open/Bond 1.63 8.29
205 Putnam OTC & Emerging Growth Fund; A 11/1/82 Open/Equity 4,699.95 25.40
206 Putnam OTC & Emerging Growth Fund; B 7/15/93 Open/Equity 2,187.53 23.85
207 Putnam OTC & Emerging Growth Fund; M 12/2/94 Open/Equity 526.16 24.58
208 Putnam OTC & Emerging Growth Fund; Y 7/12/96 Open/Equity 616.93 25.72
209 Putnam Pennsylvania Tax Exempt Income Fund; A 7/21/89 Open/Bond 141.45 8.35
210 Putnam Pennsylvania Tax Exempt Income Fund; B 7/15/93 Open/Bond 77.07 8.34
211 Putnam Pennsylvania Tax Exempt Income Fund; M 7/3/95 Open/Bond 2.20 8.36
212 Putnam Preferred Income Fund; A 1/4/84 Open/Bond 82.99 7.89
213 Putnam Preferred Income Fund; M 4/20/95 Open/Bond 6.52 7.87
214 Putnam Premier Income Trust 1995/2/29 Closed/Bond 1,004.06 7.12
215 Putnam Research Fund; A 10/2/95 Open/Equity 818.16 18.45
216 Putnam Research Fund; B 6/15/98 Open/Equity 859.37 18.17
217 Putnam Research Fund; C 2/1/99 Open/Equity 93.56 18.28
218 Putnam Research Fund; M 6/15/98 Open/Equity 58.65 18.26
219 Putnam Research Fund; Y 4/4/00 Open/Equity 13.80 18.46
220 Putnam Small Cap Value Fund; A 4/12/99 Open/Equity 117.24 10.24
221 Putnam Small Cap Value Fund; B 5/3/99 Open/Equity 78.79 10.16
222 Putnam Small Cap Value Fund; C 7/23/99 Open/Equity 12.02 10.18
223 Putnam Small Cap Value Fund; M 3/28/00 Open/Equity 0.64 10.23
224 Putnam Strategic Income Fund; A 2/19/95 Open/Bond 73.19 6.86
225 Putnam Strategic Income Fund; B 2/19/96 Open/Bond 112.38 6.87
226 Putnam Strategic Income Fund; C 2/1/99 Open/Bond 5.58 6.88
227 Putnam Strategic Income Fund; M 2/19/96 Open/Bond 7.25 6.86
228 Putnam Tax Smart Equity Fund; A 7/1/99 Open/Equity 143.52 10.08
229 Putnam Tax Smart Equity Fund; B 10/1/99 Open/Equity 151.70 10.03
230 Putnam Tax Smart Equity Fund; C 10/1/99 Open/Equity 46.43 10.03
231 Putnam Tax Smart Equity Fund; M 3/28/00 Open/Equity 0.60 10.08
232 Putnam Tax Exempt Income Fund; A 12/31/76 Open/Bond 1,552.38 8.29
233 Putnam Tax Exempt Income Fund; B 1/4/93 Open/Bond 189.60 8.29
234 Putnam Tax Exempt Income Fund; M 2/16/95 Open/Bond 8.87 8.32
235 Putnam Tax Exempt Money Market Fund 10/26/87 Open/Bond 91.15 1.00
236 Putnam Tax-Free Health Care Fund 6/29/92 Closed/Bond 181.99 13.18
237 Putnam Tax-Free Income Trust
Tax-Free High Yield Fund; A 9/20/93 Open/Bond 1,111.10 13.11
238 Putnam Tax-Free Income Trust
Tax-Free High Yield Fund; B 9/9/85 Open/Bond 453.25 13.13
239 Putnam Tax-Free Income Trust
Tax-Free High Yield Fund; C 2/1/99 Open/Bond 3.72 13.11
240 Putnam Tax-Free Income Trust
Tax-Free High Yield Fund; M 12/29/94 Open/Bond 16.48 13.11
241 Putnam Tax-Free Income Trust
Tax-Free Insured Fund; A 9/30/93 Open/Bond 242.23 14.04
242 Putnam Tax-Free Income Trust
Tax-Free Insured Fund; B 9/9/85 Open/Bond 243.51 14.06
243 Putnam Tax-Free Income Trust
Tax-Free Insured Fund; M 6/1/95 Open/Bond 2.59 14.08
244 Putnam U.S. Core Fund 5/1/98 Open/Equity 6.83 12.05
245 Putnam U.S. Government Income Trust; A 2/8/84 Open/Bond 1,821.31 12.28
246 Putnam U.S. Government Income Trust; B 4/27/92 Open/Bond 716.61 12.22
247 Putnam U.S. Government Income Trust; C 7/26/99 Open/Bond 5.26 12.26
248 Putnam U.S. Government Income Trust; M 2/6/95 Open/Bond 98.97 12.25
249 Putnam U.S. Government Income Trust; Y 4/11/94 Open/Bond 27.17 12.27
250 Putnam Utilities Growth and Income Fund; A 11/19/90 Open/Balanced 1,058.48 13.02
251 Putnam Utilities Growth and Income Fund; B 4/27/92 Open/Balanced 319.91 12.94
252 Putnam Utilities Growth and Income Fund; C 7/26/99 Open/Balanced 2.35 12.97
253 Putnam Utilities Growth and Income Fund; M 3/1/95 Open/Balanced 12.28 12.99
254 Putnam Value Fund 5/1/98 Open/Balanced 2.62 8.51
255 Putnam Vista Fund; A 6/3/68 Open/Equity 6,145.50 18.03
256 Putnam Vista Fund; B 3/1/93 Open/Equity 2,643.24 16.77
257 Putnam Vista Fund; M 12/1/94 Open/Equity 222.45 17.40
258 Putnam Vista Fund; Y 3/28/95 Open/Equity 920.25 18.39
259 Putnam Voyager Fund II; A 4/14/93 Open/Equity 1,796.84 32.33
260 Putnam Voyager Fund II; B 10/2/95 Open/Equity 1,628.42 31.12
261 Putnam Voyager Fund II; C 2/1/99 Open/Equity 125.75 32.04
262 Putnam Voyager Fund II; M 10/2/95 Open/Equity 155.25 31.56
263 Putnam Voyager Fund; A 4/1/96 Open/Equity 24,266.86 28.98
264 Putnam Voyager Fund; B 4/27/92 Open/Equity 11,237.82 26.58
265 Putnam Voyager Fund; M 12/1/94 Open/Equity 610.06 28.03
266 Putnam Voyager Fund; Y 4/1/94 Open/Equity 3,870.50 29.61
267 Putnam VT American Government Income Fund; IA 1/31/00 Open/Bond 6.46 10.30
268 Putnam VT American Government Income Fund; IB 1/31/00 Open/Bond 0.25 10.29
269 Putnam VT Asia Pacific Growth Fund; IA 5/1/95 Open/Equity 172.44 12.09
270 Putnam VT Asia Pacific Growth Fund; IB 4/30/98 Open/Equity 10.69 12.06
271 Putnam VT Diversified Income Fund; IA 9/15/93 Open/Bond 570.97 9.03
272 Putnam VT Diversified Income Fund; IB 4/6/98 Open/Bond 42.14 9.00
273 Putnam VT Global Asset Allocation Fund; IA 2/1/88 Open/Balanced 896.91 16.71
274 Putnam VT Global Asset Allocation Fund; IB 4/30/98 Open/Balanced 12.03 16.73
275 Putnam VT George Putnam Fund; IA 4/30/98 Open/Equity 280.64 10.09
276 Putnam VT George Putnam Fund; IB 4/30/98 Open/Equity 61.79 10.08
277 Putnam VT Global Growth Fund; IA 5/1/90 Open/Equity 2,589.97 21.66
278 Putnam VT Global Growth Fund; IB 4/30/98 Open/Equity 61.70 21.59
279 Putnam VT Growth and Income Fund; IA 2/1/88 Open/Balanced 8,755.05 24.06
280 Putnam VT Growth and Income Fund; IB 4/6/98 Open/Balanced 305.57 23.99
281 Putnam VT Growth Opportunities Fund; IA 1/31/00 Open/Equity 52.88 9.76
282 Putnam VT Growth Opportunities Fund; IB 1/31/00 Open/Equity 10.87 9.75
283 Putnam VT High Yield Fund; IA 2/1/88 Open/Bond 838.73 9.53
284 Putnam VT High Yield Fund; IB 4/30/98 Open/Bond 26.43 9.53
285 Putnam VT Health and Sciences Fund; IA 4/30/98 Open/Equity 299.27 12.16
286 Putnam VT Health and Sciences Fund; IB 4/30/98 Open/Equity 44.59 12.14
287 Putnam VT Income Fund; IA 2/1/88 Open/Bond 820.00 11.65
288 Putnam VT Income Fund; IB 4/30/98 Open/Bond 30.19 11.63
289 Putnam VT International Growth and Income; IA 1/1/97 Open/Balanced 394.36 12.90
290 Putnam VT International Growth and Income; IB 4/6/98 Open/Balanced 22.30 12.87
291 Putnam VT International New Opportunities Fund; IA 1/1/97 Open/Equity 363.20 18.26
292 Putnam VT International New Opportunities Fund; IB 4/30/98 Open/Equity 126.25 18.22
293 Putnam VT International Growth Fund; IA 1/1/97 Open/Equity 679.25 18.43
294 Putnam VT International Growth Fund; IB 4/30/98 Open/Equity 91.16 18.39
295 Putnam VT Investors Fund; IA 4/30/98 Open/Equity 953.64 13.99
296 Putnam VT Investors Fund; IB 4/30/98 Open/Equity 188.01 13.96
297 Putnam VT Money Market Fund; IA 2/1/88 Open/Bond 691.38 1.00
298 Putnam VT Money Market Fund; IB 4/30/98 Open/Bond 53.84 1.00
299 Putnam VT New Opportunities Fund; IA 5/2/94 Open/Equity 6,314.96 37.98
300 Putnam VT New Opportunities Fund; IB 4/30/98 Open/Equity 152.26 37.86
301 Putnam VT New Value Fund; IA 1/2/97 Open/Equity 245.57 11.61
302 Putnam VT New Value Fund; IB 4/30/98 Open/Equity 16.98 11.60
303 Putnam VT OTC & Emerging Growth Fund; IA 4/30/98 Open/Equity 286.71 15.58
304 Putnam VT OTC & Emerging Growth Fund; IB 4/30/98 Open/Equity 57.11 15.55
305 Putnam VT Research; IA 10/1/98 Open/Equity 179.55 14.76
306 Putnam VT Research; IB 10/1/98 Open/Equity 50.69 14.73
307 Putnam VT Small Cap Value Fund; IA 4/30/99 Open/Equity 26.68 10.89
308 Putnam VT Small Cap Value Fund; IB 4/30/99 Open/Equity 14.71 10.87
309 Putnam VT Utilities Growth and Income Fund; IA 5/1/92 Open/Balanced 899.11 16.16
310 Putnam VT Utilities Growth and Income Fund; IB 4/30/98 Open/Balanced 21.24 16.14
311 Putnam VT Vista Fund; IA 1/2/97 Open/Equity 677.97 21.10
312 Putnam VT Vista Fund; IB 4/30/98 Open/Equity 130.08 21.06
313 Putnam VT Voyager Fund; IA 2/1/88 Open/Equity 8,590.11 54.76
314 Putnam VT Voyager Fund; IB 4/30/98 Open/Equity 299.40 54.61
315 Putnam Worldwide Equity Fund 5/6/98 Open/Equity 27.76 27.39
</TABLE>
(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
PricewaterhouseCoopers LLP in the U.S.A. is responsible for this part.
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
PricewaterhouseCoopers LLP in the U.S.A. is responsible for this part.
Translation of unaudited semi-annual accounts will be attached to the
Japanese version of the Semi-annual Report.
AMENDMENT TO SECURITIES REGISTRATION STATEMENT
(For NAV Sale)
PUTNAM U.S. GOVERNMENT INCOME TRUST
AMENDMENT TO SECURITIES REGISTRATION STATEMENT
(for NAV Sale)
<TABLE>
<CAPTION>
To: Minister of Finance
<S> <C>
Filing Date: June 30, 2000
Filing Date of Amendment: July 4, 2000
Name of the Registrant Trust: PUTNAM U.S. GOVERNMENT INCOME TRUST
Name and Official Title of Representative Charles E. Porter
Of Trustees:
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
</TABLE>
Public Offering or Sale for Registration
Name of the Fund Making Public Offering or Sale of Foreign Investment Fund
Securities:
PUTNAM U.S. GOVERNMENT INCOME TRUST
Type and Aggregate Amount of Foreign Investment Fund Securities
Up to 115.4 million Class M Shares
Up to the total amount aggregating the amounts calculated by multiplying the
respective net asset value per Class M Share by the respective number of
Class M Shares in respect of 115.4 million Class M Shares.
(The maximum amount expected to be sold is 1,402.11 billion U.S. dollars
([YEN] 149.2 billion).
Note 1: U.S.$ amount is translated into Japanese Yen at the rate of U.S.
$l.00=[YEN] 106.40 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 31, 2000.
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 January 31,
2000 (U.S.$12.15) by 115.4 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 17, 2000
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:
<TABLE>
<CAPTION>
Before amendment After amendment
[Original SRS] [Aforementioned Semi-annual Report]
<S> <C>
I. Description of the Fund I. Status of Investment Portfolio of the Fund
5. Status of Investment Portfolio
(A) Diversification of Investment (1) Diversification of Investment Portfolio
Portfolio (the aforementioned Semi-annual Report,
page 1)
(B) Results of Past Operations (2) Results of Past Operations
(1) Record of Changes in Net Assets a Record of Changes in Net Assets
(Class M Shares) (Class M Shares) (Ditto, page 2)
(Regarding the amounts as at the (Regarding the amounts as at the
end of each month during one-year end of each month during one-year
period from, and including, the period from, and including, the
latest relevant date appertaining latest relevant date appertaining
to the filing date of the Original to the filing date of the
SRS) afore-mentioned Semi-annual Report)
(2) Record of Distributions Paid b Record of Distributions Paid
(Class M Shares) (Class M Shares) (Ditto, page 2)
(Regarding the dividends paid at (Regarding the dividends paid at
the end of each month up to the the end of each month up to the
latest relevant date of the latest relevant date of the
Original SRS) afore-mentioned Semi-annual Report)
II. Outline of the Fund II. Outline of the Fund
1. Fund 1. Fund
(E) Amount of Capital Stock (1) Amount of Capital Stock (Ditto, page 5)
(G) Information Concerning Major (2) Information Concerning Major
Shareholders Shareholders (Ditto, page 5)
(H) Information Concerning Directors, (3) Information Concerning Directors,
Officers and Employees Officers and Employees (Ditto, page 5)
(I) Description of Business and (4) Description of Business and
Outline of Operation Outline of Operation (Ditto, page 8)
2. Putnam Investment Management, 2. Putnam Investment Management, Inc.
Inc. (Investment Management (Investment Management Company)
Company)
(E) Amount of Capital Stock (1) Amount of Capital Stock (Ditto, page 9)
(G) Information Concerning Major (2) Information Concerning Major
Stockholders Stockholders (Ditto, page 9)
(H) Information Concerning Officers (3) Information Concerning Officers
and Employees and Employees (Ditto, page 9)
(I) Summary of Business Lines and (4) Summary of Business Lines and
Business Operation Business Operation (Ditto, page 22)
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 34) 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 34) is added to the Original SRS.
</TABLE>
