The Putnam Funds
One Post Office Square
Boston, Massachusetts  02109

IMPORTANT NOTICE

Our records indicate that you have more than one account in
Putnam American Government Income Fund.  To avoid the expense of
multiple mailings, we have enclosed a proxy card for each of your
accounts in this mailing.

Please sign, date, and return all proxy cards in the enclosed
postage-paid envelope.

Thank you for your cooperation and prompt attention to this
matter.



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