<PAGE> PAGE 1
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001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
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008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTUAL FUNDS CORP.
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 PRICE WATERHOUSE LLP
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013 B020001 MA
<PAGE> PAGE 2
013 B030001 02109
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
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015 C030001 02109
015 E010001 X
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020 A000001 BANK OF AMERICA NT & SA
020 B000001 94-1687665
020 C000001 3
020 A000002 PAINE WEBBER INC.
020 B000002 13-2638166
020 C000002 1
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022 A000001 PIPER JAFFRAY & HOPWOOD
022 B000001 41-0953246
022 C000001 30029
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022 B000002 22-2347336
022 C000002 21348
022 D000002 11303
022 A000003 MERRILL LYNCK, PIERCE, FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003 13706
022 D000003 16471
022 A000004 DAIN BOSWORTH INC.
022 B000004 41-0212020
022 C000004 11847
022 D000004 5600
022 A000005 RAYMOND JAMES & ASSOCIATES INC.
022 B000005 59-1237041
022 C000005 10151
022 D000005 5902
022 A000006 SMITH, BARNEY, HARRIS, UPHAM & CO.
022 B000006 13-1912900
022 C000006 482
022 D000006 12738
022 A000007 AMRO BANK
<PAGE> PAGE 3
022 C000007 7420
022 D000007 5109
022 A000008 BEAR N SECURITIES
022 B000008 13-4946705
022 C000008 4205
022 D000008 6021
022 A000009 WILLIAM R HOUGH & CO.
022 B000009 13-2655998
022 C000009 2475
022 D000009 7550
022 A000010 GEORGE K. BAUM & CO. INC.
022 B000010 44-0522232
022 C000010 6035
022 D000010 3332
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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SIGNATURE PAUL BUCUVALAS
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY
FINANCIAL INFORMATION EXTRACTED
FROM Putnam Minnesota Tax Exempt Income Fund
Class A AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAY-31-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST >120,684,361
<INVESTMENTS-AT-VALUE> 122,564,659
<RECEIVABLES> 7,259,237
<ASSETS-OTHER> 2,510,242
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 132,334,138
<PAYABLE-FOR-SECURITIES> 4,549,375
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 612,553
<TOTAL-LIABILITIES> 5,161,928
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 127,796,908
<SHARES-COMMON-STOCK> 10,968,128
<SHARES-COMMON-PRIOR> 10,999,904
<ACCUMULATED-NII-CURRENT> 31,118
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,536,114)
<ACCUM-APPREC-OR-DEPREC> 1,880,298
<NET-ASSETS> 127,172,210
<DIVIDEND-INCOME> 0
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<NET-INVESTMENT-INCOME> 6,329,579
<REALIZED-GAINS-CURRENT> 816,541
<APPREC-INCREASE-CURRENT> (3,550,267)
<NET-CHANGE-FROM-OPS> 3,595,853
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,131,471)
<DISTRIBUTIONS-OF-GAINS> 0
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY
FINANCIAL INFORMATION EXTRACTED
FROM Putnam Minnesota Tax Exempt Income Fund
Class B AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAY-31-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST >120,684,361
<INVESTMENTS-AT-VALUE> 122,564,659
<RECEIVABLES> 7,259,237
<ASSETS-OTHER> 2,510,242
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 132,334,138
<PAYABLE-FOR-SECURITIES> 4,549,375
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 612,553
<TOTAL-LIABILITIES> 5,161,928
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 127,796,908
<SHARES-COMMON-STOCK> 3,451,771
<SHARES-COMMON-PRIOR> 2,208,418
<ACCUMULATED-NII-CURRENT> 31,118
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,536,114)
<ACCUM-APPREC-OR-DEPREC> 1,880,298
<NET-ASSETS> 127,172,210
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,538,790
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<NET-INVESTMENT-INCOME> 6,329,579
<REALIZED-GAINS-CURRENT> 816,541
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<NET-CHANGE-FROM-OPS> 3,595,853
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<DISTRIBUTIONS-OF-INCOME> (1,159,900)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-REDEEMED> (273,301)
<SHARES-REINVESTED> 83,951
<NET-CHANGE-IN-ASSETS> 9,054,836
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (17,447)
<OVERDIST-NET-GAINS-PRIOR> (3,250,498)
<GROSS-ADVISORY-FEES> 742,566
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,419,736
<AVERAGE-NET-ASSETS> 25,374,422
<PER-SHARE-NAV-BEGIN> 8.92
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<PER-SHARE-GAIN-APPREC> (.19)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS>(.41)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.73
<EXPENSE-RATIO> 1.67
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY
FINANCIAL INFORMATION EXTRACTED
FROM Putnam Minnesota Tax Exempt Income
Fund Class M AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAY-31-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST >120,684,361
<INVESTMENTS-AT-VALUE> 122,564,659
<RECEIVABLES> 7,259,237
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<PAYABLE-FOR-SECURITIES> 4,549,375
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<OTHER-ITEMS-LIABILITIES> 612,553
<TOTAL-LIABILITIES> 5,161,928
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<PAID-IN-CAPITAL-COMMON> 127,796,908
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<SHARES-COMMON-PRIOR> 115
<ACCUMULATED-NII-CURRENT> 31,118
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,536,114)
<ACCUM-APPREC-OR-DEPREC> 1,880,298
<NET-ASSETS> 127,172,210
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,538,790
<OTHER-INCOME> 0
<EXPENSES-NET> 1,209,211
<NET-INVESTMENT-INCOME> 6,329,579
<REALIZED-GAINS-CURRENT> 816,541
<APPREC-INCREASE-CURRENT> (3,550,267)
<NET-CHANGE-FROM-OPS> 3,595,853
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (22,640)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
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<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> (17,447)
<OVERDIST-NET-GAINS-PRIOR> (3,250,498)
<GROSS-ADVISORY-FEES> 742,566
<INTEREST-EXPENSE> 0
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<AVERAGE-NET-ASSETS> 474,697
<PER-SHARE-NAV-BEGIN> 8.95
<PER-SHARE-NII> .43
<PER-SHARE-GAIN-APPREC> (.18)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS>(.44)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.76
<EXPENSE-RATIO> 1.32
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
