[Translation]
Semi-annual Report
(the Fifth Term)
From: November 1, 1998
To: April 30, 1999
AMENDMENT TO SECURITIES REGISTRATION STATEMENT
PUTNAM GLOBAL GOVERNMENTAL INCOME TRUST
Semi-annual Report
(the Fifth Term)
From: November 1, 1998
To: April 30, 1999
PUTNAM GLOBAL GOVERNMENTAL INCOME TRUST
Semi-annual Report
(the Fifth Term)
From: November 1 1998
To: April 30, 1999
To: Director of Kanto Local Finance Bureau
Filing Date: July 30, 1999
Name of the Registrant Fund: PUTNAM GLOBAL GOVERNMENTAL INCOME TRUST
Name of Trustees: George Putnam
John A. Hill
William F. Pounds
Jameson A. Baxter
Hans H. Estin
Ronald J. Jackson
Elizabeth T. Kennan
Lawrence J. Lasser
Robert E. Patterson
George Putnam, III
A.J.C. Smith
W. Nicholas Thorndike
W. Thomas Stephens
Paul L. Joskow
John J. Mullin III
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
- ii -
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 in Japanese
is
[ ]37 including front and back pages.)
C O N T E N T S
This
English Japanese
translation Original
I. STATUS OF INVESTMENT FUND
(1) Diversification of Investment Portfolio 1 1
(2) Results of Past Operations 2 2
(a) Record of Changes in Net Assets 2 2
(b) Record of Distributions Paid 3 2
(3) Record of Sales and Repurchases 34 3
II. OUTLINE OF THE FUND
1. Fund 5 4
(1) Amount of Capital Stock 5 4
(2) Information Concerning Major Shareholders 5 4
(3) Information Concerning Directors, Officers and
Employees 5 4
(4) Description of Business and Outline of Operations 87 6
(5) Miscellaneous 78 6
2. Putnam Investment Management, Inc.
(Investment Management Company) 79 7
(1) Amount of Capital Stock 79 7
(2) Information Concerning Major Shareholders 89 7
(3) Information Concerning Officers and Employees 89 7
(4) Summary of Business Lines and Business Operation 1920 16
(5) Miscellaneous 3233 30
III. OUTLINE OF THE FINANCIAL STATUS OF THE FUND 3233 31
IV. OUTLINE OF THE FINANCIAL STATUS OF THE
INVESTMENT MANAGEMENT COMPANY 3233 53
I. STATUS OF INVESTMENT FUND
(1) Diversification of Investment Portfolio
(As of the end of June 1999)
Investment
Types of Assets Name of Country Total US Dollars Ratio%
Foreign Government United Kingdom 59,267,438 12.37
Bonds Sweden 44,051,620 9.20
Netherlands 24,949,360 5.21
Canada 15,503,056 3.24
Greece 13,019,000 2.72
Spain 12,145,266 2.54
Germany 9,276,005 1.94
Denmark 8,198,221 1.71
New Zealand 7,585,981 1.58
Russia 50,965 0.01
Sub-total 194,046,912 40.52
U.S. Government United States 157,542,025 32.90
Short Term United States 15,956,622 3.33
Brady Bonds Brazil 11,910,958 2.49
Mexico 11,855,800 2.47
Argentina 5,656,250 1.18
Sub-total 29,423,008 6.14
Corporate Bonds United States 36,354,537 7.59
Germany 11,054,075 2.31
United Kingdom 9,461,859 1.98
Canada 7,848,956 1.64
Netherlands 6,145,184 1.28
Luxembourg 920,341 0.19
Denmark 877,293 0.18
France 667,776 0.14
Cayman Islands 180,000 0.04
Bermuda 167,850 0.03
Sub-total 73,677,871 15.38
Common Stock United States 138,756 0.03
Warrants Netherlands 47,500 0.01
United States 1,500 0.00
Sub-total 49,000 0.01
Preferred Stocks United States 91,800 0.02
Units United States 2,272,685 0.47
Purchased Options United States 5,071,041 1.06
Cash, Deposit and
Other assets (after
deductions of liabilities) 641,983 0.13
Total 478,911,703 100.00
(Net Asset Value) (57,996 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 ("dollar" or
"$") into Japanese Yen is yen121.10 for one U.S.
Dollar, which is the actual middle point between the
selling and buying currency rate by telegraphic
transfer of The Bank of Tokyo-Mitsubishi, Ltd. on
the end of June, 1999. 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.
Note 4: As of the end of June 1999, 73.71 %, 2.94 % and
23.13 % of the total Net Assets of the Fund was
invested in securities rated AAA (or its
equivalent), AA (or its equivalent) and other
securities, respectively.
(2) Results of Past Operations
(a) Record of Changes in Net Assets (Class M Shares)
Record of changes in net assets at the end of each
month within one year prior to the end of June 1999 is as
follows:
Total Net Asset Value Net Asset Value per Share
Dollar Yen
(thousands) (millions) Dollar Yen
1998 End of July 265,019 32,094 12.60 1,526
August 218,491 26,459 11.79 1,428
September 216,123 26,172 12.41 1,503
October 213,868 25,899 12.77 1,546
November 208,524 25,252 12.67 1,534
December 213,820 25,894 12.87 1,559
1999 End of January 226,303 27,405 12.93 1,566
February 230,257 27,884 12.58 1,523
March 231,930 28,087 12.63 1,529
April 234,732 28,426 12.65 1,532
May 225,566 27,316 12.23 1,481
June 217,787 26,374 12.00 1,453
(b) Record of Distributions Paid
Amount of Dividend
Period paid per Share Return of Capital
4th Fiscal Year
(11/1/97-10/31/98) $0.46 yen55.71 0.47 yen56.92
Record of distribution paid and Net Asset Value per share from April 1995
to June 1999 are as follows:
Dividend Net Asset Value
Ex-dividend Date (dollar) Per Share (Dollar)
April 20, 1995 0.072 12.94
July 20, 1995 0.222 13.36
October 20, 1995 0.221 13.48
December 20, 1995 0.092 13.84
March 20, 1996 0.221 13.81
June 20, 1996 0.219 13.65
September 20, 1996 0.218 14.00
December 20, 1996 0.332 14.18
March 20, 1997 0.217 13.79
June 29, 1997 0.217 13.80
September 22, 1997 0.217 13.80
December 19, 1997 0.232 13.39
January 20, 1998 0.073 13.30
February 27, 1998 0.073 13.18
March 20, 1998 0.071 13.10
April 20, 1998 0.069 12.77
May 20, 1998 0.068 12.98
June 22, 1998 0.068 13.14
July 20, 1998 0.068 12.81
August 20, 1998 0.068 11.98
September 21, 1998 0.068 12.24
October 20, 1998 0.068 12.72
November 20, 1998 0.068 12.66
December 20, 1998 0.069 12.80
January 20, 1999 0.068 12.89
February 22, 1999 0.068 12.73
March 22, 1999 0.069 12.61
April 20, 1999 0.062 12.68
May 20, 1999 0.062 12.50
June 21, 1999 0.062 12.06
(3) Record of Sales and Repurchases (Class M shares)
Records of sales and repurchases during one year period
up to and including the end of June, 1999 and number of
outstanding shares of the Fund as of the end of June, 1999 are
as follows:
Number of Number of Number of
Shares Sold Shares Outstanding
Repurchased Shares
Worldwide 6,204,316 10,487,598 18,150,479
(In Japan) (6,580,300) (11,335,400) (4,755,100)
Note: The number of Shares sold, repurchased and
outstanding in the parentheses represents those sold,
repurchased and outstanding in Japan. Shares have been sold
in Japan starting December, 1997.
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 June, 1999)
Shares
Name Office and Resume Owned
Title
George Putnam Chairman and present: Chairman and 3,240.25
President Director of 4
Putnam Investment
Management, Inc.
and Putnam Mutual
Funds Corp.
Director, Marsh &
McLennan
Companies, Inc.
John A. Hill Vice present: Chairman and 103.023
Chairman Managing
Director, First
Reserve
Corporation
William F. Vice present: Professor 608.349
Pounds Chairman Emeritus of
Management,
Alfred P. Sloan
School of
Management,
Massachusetts
Institute of
Technology
Jameson Adkins Trustee present: President, 106.336
Baxter Baxter
Associates, Inc.
Hans H. Estin Trustee present: Chartered 193.732
Financial Analyst
and Vice
Chairman, North
American
Management Corp.
Ronald J. Trustee present: Former 134.300
Jackson Chairman,
President and
Chief Executive
Officer of Fisher-
Price, Inc.,
Elizabeth T. Trustee present: President 480.483
Kennan Emeritus and
Professor, Mount
Holyoke College
Lawrence J. Trustee and present: President, 144.064
Lasser Vice Chief Executive
President Officer and
Director of
Putnam
Investments, Inc.
and Putnam
Investment
Management, Inc.
Director, Marsh &
McLennan
Companies, Inc.
and the United
Way of
Massachusetts Bay
Robert E. Trustee present: President and 3,268.83
Patterson Trustee of Cabot 8
Industrial Trust;
Director of
Brandywire Trust
Company
George Putnam, Trustee present: President, New 2,579.66
III Generation 2
Research, Inc.
and New
Generation
Adviser, Inc.
Director,
Massachusetts
Audubon Society
and the Boston
Family Office,
L.L.C.
A.J.C. Smith Trustee present: Chairman and 240.855
Chief Executive
Officer, Marsh &
McLennan
Companies, Inc.
W. Nicholas Trustee present: Director of 154.937
Thorndike various
corporations and
charitable
organizations,
including Courier
Corporation, Data
General
Corporation,
Bradley Real
Estate, Inc. and
Providence
Journal Co.
W. Thomas Trustee present: President and 112.266
Stephens Chief Executive
Officer of
MacMillan Bloedel
Ltd., Director of
Qwest
Communications
and New Century
Energies
Paul. L. Trustee present: Professor 123.142
Joskow Emeritus of
Economics and
Management and
Former Chairman
of the Department
of Economics at
the Massachusetts
Institute of
Technology,
Director, New
England Electric
System, State
Farm Indemnity
Corporation and
Whitehead
Institute for
Biological
Research
John H. Trustee present: Chairman and 243.702
Mullin, III Chief Executive
Officer of
Ridgeway Farm,
Director of ACX
Technologies,
Inc., Alex. Brown
Realty, Inc., and
The Liberty
Corporation
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 Putnam
Investment
Management, Inc.
John D. Hughes Vice present Senior Vice 0
President President of the
and Investment
Treasurer Management
Company
John R. Verani Vice present Senior Vice 0
President President of
Putnam
Investments, Inc.
and Putnam
Investment
Management, Inc.
Gordon H. Vice present: Director and 0
Silver President Senior Managing
Director of
Putnam
Investments, Inc.
and Putnam
Investment
Management, Inc.
Ian C. Vice present: Senior 0
Ferguson President Managing Director
of Putnam
Investment
Management, Inc.
Edward Vice present Managing 0
D'Alelio President Director of
Putnam
Investments, Inc.
and Putnam
Investment
Management, Inc.
Stephen Vice present Managing 0
Oristaglio President Director of
Putnam
Investments, Inc.
and Putnam
Investment
Management, Inc.
D. William Vice present Managing 0
Kohli President Director of
Putnam
Investments, Inc.
and Putnam
Investment
Management, Inc.
Jeffrey A. Vice present Senior Vice 0
Kaufman President President of
Putnam
Investments, Inc.
and Putnam
Investment
Management, Inc.
Richard A. Vice present Director and 0
Monaghan President Senior Managing
Director of
Putnam
Investments, Inc.
Putnam Investment
Management, Inc.,
President and
Director of
Putnam Mutual
Funds Corp..
(2) Employees of the Fund
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 which had or is
expected to 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 June, 1999)
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:
Amount of Capital
Year (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
(2) Information Concerning Major Stockholders
As of the end of June 1999, 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 June 30, 1999)
Position
with Putnam
Name Investment Other Business Affiliation
Management,
Inc.
1 Putnam, George Chairman Director of Putnam Mutual
Funds Corp.
2 Lasser, Lawrence President
J. and
Director,
CEO
3 Silver, Gordon Director Director of Putnam
H. and Senior Fiduciary Trust Company and
Managing Senior Managing Director of
Director Putnam Mutual Funds Corp.
4 Burke, Robert W. Senior Senior Managing Director of
Managing Putnam Mutual Funds Corp.
Director
5 Collman, Senior Senior Managing Director of
Kathleen M. Managing Putnam Mutual Funds Corp.
Director
6 Ferguson, Ian C. Senior
Managing
Director
7 Regan, Anthony Senior
W. Managing
Director
8 Spiegel, Steven Senior Senior Managing Director of
Managing Putnam Mutual Funds Corp.
Director
9 Anderson, Blake Managing
E. Director
10 Antill, Jennifer Managing
Director
11 Beck, Robert R. Managing
Director
12 Browchuk, Brett Managing
Director
13 Cassaro, Joseph Managing
A. Director
14 Cotner, C. Beth Managing
Director
15 Cronin, Kevin M. Managing Managing Director of Putnam
Director Fiduciary Trust Company
16 D'Alelio, Edward Managing
H. Director
17 Daly, Kenneth L. Managing Managing Director of Putnam
Director Mutual Funds Corp.
18 DeTore, John A. Managing Managing Director of Putnam
Director Fiduciary Trust Company
19 Durgarian, Managing Director and Managing
Karnig H. Director Director of Putnam
and Chief Fiduciary Trust Company
Financial
Officer
20 Esteves, Irene Managing Treasurer of Putnam
M. Director Fiduciary Trust Company
and Chief
Financial
Officer
21 Farrell, Deborah Managing Managing Director of Putnam
S. Director Mutual Funds Corp.
22 Gillis, Roland Managing
Director
23 Haslett, Thomas Managing
R. Director
24 Holding, Pamela Managing
Director
25 Hurley, William Managing Managing Director and CFO
J. Director of Putnam Mutual Funds
Corp.
26 Jacobs, Jerome Managing
J. Director
27 Joseph, Joseph Managing
P. Director
28 Kamshad, Omid Managing
Director
29 King, David L. Managing Managing Director of Putnam
Director Mutual Funds Corp.
30 Kohli, D. Managing
William Director
31 Kreisel, Anthony Managing
I. Director
32 Kuenstner, Managing
Deborah F. Director
33 Landes, William Managing
J. Director
34 Leichter, Managing
Jennifer E. Director
35 Leibovitch, Managing
Richard Director
36 Maloney, Kevin Managing
J. Director
37 Martino, Michael Managing Managing Director of Putnam
Director Fiduciary Trust Company
38 Maxwell, Scott Managing
M. Director
39 McGue, William Managing
F. Director
40 McMullen, Carol Managing
C. Director
41 Memani, Krisha Managing
Director
42 Miller, Daniel Managing
L. Director
43 Morgan Jr., John Managing Managing Director of Putnam
J. Director Fiduciary Trust Company
44 Morgan, Kelly A. Managing
Director
45 Oristaglio, Managing
Stephen Director
46 Peacher, Stephen Managing
C. Director
47 Pollard, Mark D. Managing
Director
48 Porter, Charles Managing
E. Director
49 Price, Quintin Managing
Director
50 Reilly, Thomas Managing
V. Director
51 Schultz, Managing Managing Director of Putnam
Mitchell D. Director Mutual Funds Corp.
52 Scott, Justin M. Managing Managing Director of Putnam
Director Fiduciary Trust Company
53 Shadek Jr., Managing Managing Director of Putnam
Edward T. Director Fiduciary Trust Company
54 Starr, Loren Managing Managing Director of Putnam
Director Mutual Funds Corp.
55 Swift, Robert Managing
Director
56 Talanian, John Managing Managing Director of Putnam
C. Director Mutual Funds Corp.
57 Tibbetts, Managing Managing Director of Putnam
Richard B. Director Mutual Funds Corp.
58 Waldman, David Managing
L. Director
59 Wetlaufer, Eric Managing
Director
60 Woolverton, Managing Managing Director of Putnam
William H. Director Mutual Funds Corp.
61 Zieff, William Managing
E. Director
62 Arends, Michael Senior Vice Senior Vice President of
K. President Putnam Mutual Funds Corp.
63 Asher, Steven E. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
and Senior Vice President
of Putnam Fiduciary Trust
Company
64 Atkin, Michael Senior Vice
J. President
65 Augustine, Senior Vice
Jeffrey B. President
66 Bakshi, Manjit Senior Vice
S. President
67 Bamford, Dolores Senior Vice
Snyder President
68 Baumbach, Robert Senior Vice
K. President
69 Berka, Sharon A. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
70 Block, Richard Senior Vice
L. President
71 Boselli, John A. Senior Vice
President
72 Bousa, Edward P. Senior Vice
President
73 Bresnahan, Senior Vice Senior Vice President of
Leslee R. President Putnam Mutual Funds Corp.
74 Burke, Andrea Senior Vice
President
75 Burns, Cheryl A. Senior Vice
President
76 Byrne, Joshua L. Senior Vice
President
77 Callahan, Ellen Senior Vice
S. President
78 Carlson, David Senior Vice
G. President
79 Chrostowski, Senior Vice Senior Vice President of
Louis F. President Putnam Mutual Funds Corp.
80 Curran, Peter J. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
81 Dalferro, John Senior Vice
R. President
82 Derbyshire, Senior Vice
Ralph C. President
83 England, Richard Senior Vice
B. President
84 Finch, Edward R. Senior Vice
President
85 Flaherty, Senior Vice Senior Vice President of
Patricia C. President Putnam Mutual Funds Corp.
86 Fontana, Forrest Senior Vice
N. President
87 Francis, Senior Vice
Jonathan H. President
88 Frost, Karen T. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
89 Frucci, Richard Senior Vice Senior Vice President of
M. President Putnam Fiduciary Trust
Company
90 Fullerton, Brian Senior Vice Senior Vice President of
J. President Putnam Mutual Funds Corp.
91 Grant, Peter J. Senior Vice Senior Vice President of
President Putnam Fiduciary Trust
Company
92 Graviere, Senior Vice
Patrice President
93 Grim, Daniel J. Senior Vice
President
94 Haagensen, Paul Senior Vice
E. President
95 Hadden, Peter J. Senior Vice
President
96 Halperin, Senior Vice
Matthew C. President
97 Healey, Deborah Senior Vice
R. President
98 Hotchkiss, Senior Vice
Michael F. President
99 Kaufman, Jeffrey Senior Vice
President
100 Kay, Karen R. Senior Vice Clerk, Director and Senior
President Vice President of Putnam
Fiduciary Trust Company and
Senior Vice President of
Putnam Mutual Funds Corp.
101 Kirson, Steven Senior Vice
L. President
102 Knight, Jeffrey Senior Vice
L. President
103 Koontz, Jill A. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
104 Korn, Karen R. Senior Vice
President
105 Lannum III, Senior Vice
Coleman N. President
106 Lindsey, Jeffrey Senior Vice
R. President
107 Lomba, Rufino R. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
108 MacElwee, Jones, Senior Vice
Elizabeth M. President
109 Madore, Robert Senior Vice Senior Vice President of
A. President Putnam Fiduciary Trust
Company
110 Malloy, Julie M. Senior Vice
President
111 Marrkand, Paul Senior Vice
E. President
112 Matteis, Andrew Senior Vice
S. President
113 McDonald, Senior Vice
Richard E. President
114 Meehan, Thalia Senior Vice
President
115 Mehta, Sandeep Senior Vice
President
116 Miller, William Senior Vice
H. President
117 Mockard, Jeanne Senior Vice
L. President
118 Mufson, Michael Senior Vice
J. President
119 Mullen, Donald Senior Vice Senior Vice President of
E. President Putnam Mutual Funds Corp.
120 Mullin, Hugh H. Senior Vice
President
121 Netols, Jeffrey Senior Vice Senior Vice President of
W. President Putnam Fiduciary Trust
Company
122 Oler, Stephen S. Senior Vice
President
123 Paine, Robert M. Senior Vice
President
124 Parker, Margery Senior Vice
C. President
125 Perry, William Senior Vice
President
126 Peters, Carmel Senior Vice
President
127 Petralia, Senior Vice Senior Vice President of
Randolph S. President Putnam Mutual Funds Corp.
128 Plapinger, Keith Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
129 Pohl, Charles G. Senior Vice
President
130 Prusko, James M. Senior Vice Senior Vice President of
President Putnam Fiduciary Trust
Company
131 Quistberg, Paul Senior Vice
T. President
132 Ray, Christopher Senior Vice
A. President
133 Rogers, Kevin J. Senior Vice
President
134 Ruys de Perez, Senior Vice Senior Vice President of
Charles A. President Putnam Fiduciary Trust
Company and Senior Vice
President of Putnam Mutual
Funds Corp.
135 Santos, David J. Senior Vice Senior Vice President of
President Putnam Fiduciary Trust
Company
136 Santosus, Senior Vice
Anthony C. President
137 Schwister, Jay Senior Vice Senior Vice President of
E. President Putnam Fiduciary Trust
Company
138 Scordato, Senior Vice Senior Vice President of
Christine A. President Putnam Mutual Funds Corp.
139 Sievert, Jean I. Senior Vice
President
140 Simon, Sheldon Senior Vice
N. President
141 Simozar, Saied Senior Vice
President
142 Smith Jr., Leo Senior Vice
J. President
143 Smith, Margaret Senior Vice
D. President
144 Spatz, Erin J. Senior Vice
President
145 Stack, Michael Senior Vice Senior Vice President of
P. President Putnam Mutual Funds Corp.
146 Stairs, George Senior Vice
W. President
147 Strumpf, Casey Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
148 Sugimoto, Senior Vice Senior Vice President of
Toshifumi President Putnam Mutual Funds Corp.
149 Sullivan, Roger Senior Vice
R. President
150 Svensson, Lisa Senior Vice
H. President
151 Swanberg, Senior Vice
Charles H. President
152 Thomsen, Senior Vice Senior Vice President of
Rosemary H. President Putnam Fiduciary Trust
Company
153 Troped, Bonnie Senior Vice Senior Vice President of
L. President Putnam Mutual Funds Corp.
154 Verani, John R. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
155 Walsh, Francis Senior Vice
P. President
156 Warren, Paul C. Senior Vice
President
157 Weinstein, Senior Vice
Michael R. President
158 Weiss, Manuel Senior Vice
President
159 Whalen, Edward Senior Vice Senior Vice President of
F. President Putnam Mutual Funds Corp.
160 Wheeler, Diane Senior Vice
D.F. President
161 Wyke, Richard P. Senior Vice
President
162 Yogg, Michael R. Senior Vice
President
163 Zukowski, Gerald Senior Vice
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
June, 1999, Investment Management Company managed,
advised, and/or administered the following 115 funds and
fund portfolios (having an aggregate net asset value of nearly $245 billion):
(As of June 30, 1999)
Name Month/Da Principal Total Net
te/Year Characteris Net Asset
Establis tics Asset Value
hed Value per
($ share
million ($)
)
1 The George Putnam Fund of 11/5/37 Open/Equity 4,059.4 18.95
Boston; A 1
2 The George Putnam Fund of 4/24/92 Open/Equity 1,669.2 18.80
Boston; B 1
3 The George Putnam Fund of 12/1/94 Open/Equity 301.58 18.80
Boston; M
4 The George Putnam Fund of 1/1/94 Open/Equity 726.43 18.99
Boston; Y
5 Putnam American Government 3/1/85 Open/Bond 1,328.4 8.50
Income Fund; A 9
6 Putnam American Government 5/20/94 Open/Bond 123.42 8.47
Income Fund; B
7 Putnam American Government 2/14/95 Open/Bond 4.22 8.52
Income Fund; M
8 Putnam Asia Pacific Growth 2/20/91 Open/Equity 212.92 12.06
Fund; A
9 Putnam Asia Pacific Growth 6/1/93 Open/Equity 173.35 11.82
Fund; B
10 Putnam Asia Pacific Growth 2/1/95 Open/Equity 14.12 11.95
Fund; M
11 Putnam Asia Pacific Fund 3/23/98 Open/Equity 3.10 10.84
II
12 Putnam Asset Allocation: 2/7/94 Open/Balanc 971.02 12.50
Balanced Portfolio; A ed
13 Putnam Asset Allocation: 2/11/94 Open/Balanc 570.88 12.44
Balanced Portfolio; B ed
14 Putnam Asset Allocation: 9/1/94 Open/Balanc 121.52 12.37
Balanced Portfolio; C ed
15 Putnam Asset Allocation: 2/6/95 Open/Balanc 69.45 12.48
Balanced Portfolio; M ed
16 Putnam Asset Allocation: 7/14/94 Open/Balanc 347.23 12.51
Balanced Portfolio; Y ed
17 Putnam Asset Allocation : 2/7/94 Open/Balanc 412.16 10.54
Conservative Portfolio; A ed
18 Putnam Asset Allocation : 2/18/94 Open/Balanc 187.96 10.50
Conservative Portfolio; B ed
19 Putnam Asset Allocation : 9/1/94 Open/Balanc 61.21 10.48
Conservative Portfolio; C ed
20 Putnam Asset Allocation : 2/7/95 Open/Balanc 24.09 10.50
Conservative Portfolio; M ed
21 Putnam Asset Allocation : 7/14/94 Open/Balanc 82.87 10.55
Conservative Portfolio; Y ed
22 Putnam Asset Allocation: 2/8/94 Open/Balanc 764.99 14.64
Growth Portfolio; A ed
23 Putnam Asset Allocation: 2/16/94 Open/Balanc 487.81 14.44
Growth Portfolio; B ed
24 Putnam Asset Allocation: 9/1/94 Open/Balanc 106.63 14.32
Growth Portfolio; C ed
25 Putnam Asset Allocation: 2/1/95 Open/Balanc 64.22 14.47
Growth Portfolio; M ed
26 Putnam Asset Allocation: 7/14/94 Open/Balanc 324.91 14.74
Growth Portfolio; Y ed
27 Putnam Arizona Tax Exempt 1/30/91 Open/Bond 105.44 9.04
Income Fund; A
28 Putnam Arizona Tax Exempt 7/15/93 Open/Bond 33.02 9.03
Income Fund; B
29 Putnam Arizona Tax Exempt 7/3/95 Open/Bond 0.57 9.05
Income Fund; M
30 Putnam Balanced Fund 10/2/95 Open/Balanc 4.02 12.82
ed
31 Putnam Balanced Retirement 4/19/85 Open/Balanc 689.88 11.19
Fund; A ed
32 Putnam Balanced Retirement 2/1/94 Open/Balanc 199.62 11.10
Fund; B ed
33 Putnam Balanced Retirement 3/17/95 Open/Balanc 15.62 11.13
Fund; M ed
34 Putnam Balanced Retirement 1/4/99 Open/Balanc 1.78 11.20
Fund; Y ed
35 Putnam California 11/27/92 Closed/Bond 69.11 15.00
Investment Grade Municipal
Trust
36 Putnam California Tax 4/29/83 Open/Bond 2,876.7 8.43
Exempt Income Fund; A 9
37 Putnam California Tax 1/4/93 Open/Bond 643.75 8.42
Exempt Income Fund; B
38 Putnam California Tax 2/14/95 Open/Bond 20.12 8.42
Exempt Income Fund; M
39 Putnam California Tax 10/26/87 Open/Bond 31.54 1.00
Exempt Money Market Fund
40 Putnam Capital 8/5/93 Open/Equity 69.85 8.42
Opportunities Fund; A
41 Putnam Capital 11/2/94 Open/Equity 91.27 8.38
Opportunities Fund; B
42 Putnam Capital 1/22/96 Open/Equity 5.20 8.39
Opportunities Fund; M
43 Putnam Capital 8/5/93 Open/Equity 1,258.6 23.14
Appreciation Fund; A 3
44 Putnam Capital 11/2/94 Open/Equity 1,394.5 22.84
Appreciation Fund; B 5
45 Putnam Capital 1/22/96 Open/Equity 92.74 22.88
Appreciation Fund; M
46 Putnam Convertible 6/29/95 Closed/Bond 88.27 23.78
Opportunity and Income
Trust
47 Putnam Convertible Income- 6/29/72 Open/Balanc 1,039.4 20.87
Growth Trust; A ed 1
48 Putnam Convertible Income- 7/15/93 Open/Balanc 309.51 20.64
Growth Trust; B ed
49 Putnam Convertible Income- 3/13/95 Open/Balanc 17.30 20.75
Growth Trust; M ed
50 Putnam Convertible Income- 12/30/98 Open/Balanc 66.16 20.87
Growth Trust; Y ed
51 Putnam Diversified Equity 7/1/94 Open/Equity 354.81 15.30
Trust; A
52 Putnam Diversified Equity 7/2/94 Open/Equity 433.21 15.02
Trust; B
53 Putnam Diversified Equity 2/1/99 Open/Equity 3.95 15.28
Trust; C
54 Putnam Diversified Equity 7/3/95 Open/Equity 35.85 15.12
Trust; M
55 Putnam Dividend Income 9/28/89 Closed/Bond 121.49 11.22
Fund
56 Putnam Diversified Income 10/3/88 Open/Bond 1,638.5 11.09
Trust; A 9
57 Putnam Diversified Income 3/1/93 Open/Bond 1,869.6 11.04
Trust; B 3
58 Putnam Diversified Income 2/1/99 Open/Bond 4.99 11.07
Trust; C
59 Putnam Diversified Income 12/1/94 Open/Bond 958.51 11.05
Trust; M
60 Putnam Diversified Income 7/11/96 Open/Bond 17.69 11.10
Trust ; Y
61 Putnam Emerging Markets 10/2/95 Open/Equity 62.90 9.67
Fund; A
62 Putnam Emerging Markets 10/2/95 Open/Equity 45.60 9.59
Fund; B
63 Putnam Emerging Markets 10/2/95 Open/Equity 5.13 9.61
Fund; M
64 Putnam Equity Fund 98 12/30/97 Open/Equity 9.19 14.84
65 Putnam Equity Income Fund; 6/15/77 Open/Balanc 1,288.4 17.21
A ed 0
66 Putnam Equity Income Fund; 9/13/93 Open/Balanc 717.63 17.11
B ed
67 Putnam Equity Income Fund; 2/1/99 Open/Balanc 9.35 17.19
C ed
68 Putnam Equity Income Fund; 12/2/94 Open/Balanc 67.59 17.12
M ed
69 Putnam Europe Growth Fund; 9/7/90 Open/Equity 895.19 21.72
A
70 Putnam Europe Growth Fund; 2/1/94 Open/Equity 790.16 21.15
B
71 Putnam Europe Growth Fund; 12/1/94 Open/Equity 97.61 21.49
M
72 Putnam Florida Tax Exempt 8/24/90 Open/Bond 229.33 9.12
Income Fund; A
73 Putnam Florida Tax Exempt 1/4/93 Open/Bond 80.17 9.12
Income Fund; B
74 Putnam Florida Tax Exempt 5/1/95 Open/Bond 1.35 9.12
Income Fund; M
75 Putnam Global Natural 7/24/80 Open/Equity 198.22 19.66
Resources Fund; A
76 Putnam Global Natural 2/1/94 Open/Equity 146.91 19.31
Resources Fund; B
77 Putnam Global Natural 7/3/95 Open/Equity 7.88 19.51
Resources Fund; M
78 Putnam Global Equity Fund 5/6/98 Open/Equity 4.90 16.16
79 Putnam Global Growth and 1/3/95 Open/Equity 34.64 14.48
Income Fund; A
80 Putnam Global Growth and 1/3/95 Open/Equity 26.22 14.37
Income Fund; B
81 Putnam Global Growth and 1/3/95 Open/Equity 2.64 14.42
Income Fund; M
82 Putnam Global Governmental 6/1/87 Open/Bond 228.29 12.05
Income Trust; A
83 Putnam Global Governmental 2/1/94 Open/Bond 32.80 12.02
Income Trust; B
84 Putnam Global Governmental 3/17/95 Open/Bond 217.79 12.00
Income Trust; M
85 Putnam Global Growth Fund; 9/1/67 Open/Equity 3,701.7 13.41
A 6
86 Putnam Global Growth Fund; 4/27/92 Open/Equity 2,012.0 12.87
B 7
87 Putnam Global Growth Fund; 2/1/99 Open/Equity 10.20 13.37
C
88 Putnam Global Growth Fund; 3/1/95 Open/Equity 69.41 13.28
M
89 Putnam Global Growth Fund; 6/15/94 Open/Equity 150.26 13.62
Y
90 Putnam Growth and Income 1/5/95 Open/Balanc 1,392.8 15.43
Fund II; A ed 6
91 Putnam Growth and Income 1/5/95 Open/Balanc 1,645.8 15.31
Fund II; B ed 0
92 Putnam Growth and Income 2/1/99 Open/Balanc 25.40 15.40
Fund II; C ed
93 Putnam Growth and Income 1/5/95 Open/Balanc 185.23 15.36
Fund II; M ed
94 The Putnam Fund for Growth 11/6/57 Open/Balanc 23,184. 22.42
and Income; A ed 03
95 The Putnam Fund for Growth 4/27/92 Open/Balanc 16,585. 22.13
and Income; B ed 91
96 The Putnam Fund for Growth 5/1/95 Open/Balanc 507.75 22.29
and Income; M ed
97 The Putnam Fund for Growth 6/15/94 Open/Balanc 1,384.8 22.45
and Income; Y ed 3
98 Putnam Growth Fund 5/1/98 Open/Equity 2.74 10.97
99 Putnam Growth 10/2/95 Open/Equity 1,340.5 22.27
Opportunities; A 1
100 Putnam Growth 8/1/97 Open/Equity 1,520.7 21.96
Opportunities; B 4
101 Putnam Growth 2/1/99 Open/Equity 64.16 22.24
Opportunities; C
102 Putnam Growth 8/1/97 Open/Equity 89.74 22.07
Opportunities; M
103 Putnam High Income 7/9/87 Closed/Bond 116.28 8.53
Convertible and Bond Fund
104 Putnam High Yield 3/25/86 Open/Bond 1,081.9 8.15
Advantage Fund; A 2
105 Putnam High Yield 5/16/94 Open/Bond 921.42 8.11
Advantage Fund; B
106 Putnam High Yield 12/1/94 Open/Bond 934.84 8.14
Advantage Fund; M
107 Putnam High Yield 12/30/98 Open/Bond 10.38 8.15
Advantage Fund; Y
108 Putnam High Yield Total 1/1/97 Open/Bond 47.18 7.40
Return Fund; A
109 Putnam High Yield Total 1/1/97 Open/Bond 53.38 7.33
Return Fund; B
110 Putnam High Yield Total 1/1/97 Open/Bond 3.17 7.34
Return Fund; M
111 Putnam High Quality Bond 6/2/86 Open/Bond 308.43 9.63
Fund; A
112 Putnam High Quality Bond 6/6/94 Open/Bond 35.99 9.59
Fund; B
113 Putnam High Quality Bond 4/12/95 Open/Bond 2.91 9.63
Fund; M
114 Putnam High Yield Fund II; 12/31/97 Open/Bond 537.52 7.70
A
115 Putnam High Yield Fund II; 12/31/97 Open/Bond 795.29 7.71
B
116 Putnam High Yield Fund II; 12/31/97 Open/Bond 37.96 7.70
M
117 Putnam High Yield Trust; A 2/14/78 Open/Bond 2,574.2 10.75
4
118 Putnam High Yield Trust; B 3/1/93 Open/Bond 759.17 10.71
119 Putnam High Yield Trust; M 7/3/95 Open/Bond 16.61 10.75
120 Putnam High Yield Trust; Y 12/30/98 Open/Bond 22.16 10.75
121 Putnam Health Sciences 5/28/82 Open/Equity 2,898.2 59.39
Trust; A 9
122 Putnam Health Sciences 3/1/93 Open/Equity 2,151.0 56.91
Trust; B 9
123 Putnam Health Sciences 7/3/95 Open/Equity 92.11 58.39
Trust; M
124 Putnam High Yield 5/25/89 Closed/Bond 196.36 8.88
Municipal Trust
125 Putnam Income Fund; A 11/1/54 Open/Bond 1,293.5 6.57
3
126 Putnam Income Fund; B 3/1/93 Open/Bond 488.74 6.54
127 Putnam Income Fund; M 12/14/94 Open/Bond 1,695.7 6.54
8
128 Putnam Income Fund; Y 2/12/94 Open/Bond 246.53 6.59
129 Putnam Intermediate U.S. 2/16/93 Open/Bond 234.71 4.84
Government Income Fund; A
130 Putnam Intermediate U.S. 2/16/93 Open/Bond 147.52 4.84
Government Income Fund; B
131 Putnam Intermediate U.S. 4/3/95 Open/Bond 11.79 4.85
Government Income Fund; M
132 Putnam Intermediate U.S. 10/1/97 Open/Bond 114.97 4.83
Government Income Fund; Y
133 Putnam International Fund 12/28/95 Open/Equity 5.16 11.95
134 Putnam International 8/1/96 Open/Equity 466.82 12.59
Growth and Income Fund; A
135 Putnam International 8/1/96 Open/Equity 445.94 12.49
Growth and Income Fund; B
136 Putnam International 2/1/99 Open/Equity 8.91 12.58
Growth and Income Fund; C
137 Putnam International 8/1/96 Open/Equity 36.34 12.56
Growth and Income Fund; M
138 Putnam International 2/28/91 Open/Equity 2,907.4 21.64
Growth Fund; A 5
139 Putnam International 6/1/94 Open/Equity 1,818.3 21.20
Growth Fund; B 4
140 Putnam International 12/1/94 Open/Equity 207.22 21.46
Growth Fund; M
141 Putnam International 7/12/96 Open/Equity 256.18 21.73
Growth Fund; Y
142 Putnam International New 1/3/95 Open/Equity 837.87 15.38
Opportunities Fund; A
143 Putnam International New 7/21/95 Open/Equity 993.89 14.99
Opportunities Fund; B
144 Putnam International New 2/1/99 Open/Equity 3.61 15.34
Opportunities Fund; C
145 Putnam International New 7/21/95 Open/Equity 78.30 15.15
Opportunities Fund; M
146 Putnam International 12/28/95 Open/Equity 177.06 15.76
Voyager Fund; A
147 Putnam International 10/30/96 Open/Equity 133.48 15.58
Voyager Fund; B
148 Putnam International 10/30/96 Open/Equity 14.85 15.66
Voyager Fund; M
149 Putnam Investment Grade 10/26/89 Closed/Bond 239.08 11.42
Municipal Trust
150 Putnam Investment Grade 11/27/92 Closed/Bond 179.55 13.44
Municipal Trust II
151 Putnam Investment Grade 11/29/93 Closed/Bond 51.65 12.89
Municipal Trust III
152 Putnam Investors Fund; A 12/1/25 Open/Equity 6,106.3 16.26
0
153 Putnam Investors Fund; B 3/1/93 Open/Equity 3,008.4 15.52
1
154 Putnam Investors Fund; M 12/2/94 Open/Equity 199.69 15.94
155 Putnam Investors Fund; Y 1/7/97 Open/Equity 523.71 16.32
156 Putnam Latin America Fund 3/23/98 Open/Equity 2.03 6.64
157 Putnam Massachusetts Tax 10/23/89 Open/Bond 292.39 9.27
Exempt Income Fund; A
158 Putnam Massachusetts Tax 7/15/93 Open/Bond 122.06 9.26
Exempt Income Fund; B
159 Putnam Massachusetts Tax 5/12/95 Open/Bond 6.38 9.26
Exempt Income Fund; M
160 Putnam Master Income Trust 4/29/88 Closed/Bond 426.47 8.03
161 Putnam Managed High Yield 6/25/93 Closed/Bond 92.01 12.26
Trust
162 Putnam Michigan Tax Exempt 10/23/89 Open/Bond 142.61 8.98
Income Fund; A
163 Putnam Michigan Tax Exempt 7/15/93 Open/Bond 45.81 8.96
Income Fund; B
164 Putnam Michigan Tax Exempt 4/17/95 Open/Bond 1.87 8.97
Income Fund; M
165 Putnam Minnesota Tax 10/23/89 Open/Bond 101.05 8.89
Exempt Income Fund; A
166 Putnam Minnesota Tax 7/15/93 Open/Bond 51.03 8.87
Exempt Income Fund; B
167 Putnam Minnesota Tax 4/3/95 Open/Bond 1.61 8.89
Exempt Income Fund; M
168 Putnam Managed Municipal 2/24/89 Closed/Bond 433.52 9.33
Income Trust
169 Putnam Money Market Fund; 10/1/76 Open/Bond 3,434.1 1.00
A 4
170 Putnam Money Market Fund; 4/27/92 Open/Bond 789.56 1.00
B
171 Putnam Money Market Fund; 2/1/99 Open/Bond 5.35 1.00
C
172 Putnam Money Market Fund; 12/8/94 Open/Bond 107.16 1.00
M
173 Putnam Master Intermediate 4/29/88 Closed/Bond 778.02 7.77
Income Trust
174 Putnam Municipal Income 5/22/89 Open/Bond 795.97 8.99
Fund; A
175 Putnam Municipal Income 1/4/93 Open/Bond 491.15 8.98
Fund; B
176 Putnam Municipal Income 2/1/99 Open/Bond 6.00 8.98
Fund; C
177 Putnam Municipal Income 12/1/94 Open/Bond 15.74 8.98
Fund; M
178 Putnam Municipal 5/28/93 Closed/Bond 219.62 13.59
Opportunities Trust
179 Putnam New Opportunities 8/31/90 Open/Equity 11,851. 65.60
Fund; A 33
180 Putnam New Opportunities 3/1/93 Open/Equity 8,384.0 62.51
Fund; B 5
181 Putnam New Opportunities 12/1/94 Open/Equity 491.30 64.05
Fund; M
182 Putnam New Opportunities 7/19/94 Open/Equity 1,033.1 66.48
Fund; Y 4
183 Putnam New Value Fund; A 1/3/96 Open/Equity 440.78 15.39
184 Putnam New Value Fund; B 2/26/96 Open/Equity 470.08 15.22
185 Putnam New Value Fund; M 2/26/96 Open/Equity 42.06 15.30
186 Putnam New Jersey Tax 2/20/90 Open/Bond 210.51 8.97
Exempt Income Fund; A
187 Putnam New Jersey Tax 1/4/93 Open/Bond 97.49 8.96
Exempt Income Fund; B
188 Putnam New Jersey Tax 5/1/95 Open/Bond 1.24 8.97
Exempt Income Fund; M
189 Putnam New York Investment 11/27/92 Closed/Bond 38.64 13.57
Grade Municipal Trust
190 Putnam New York Tax Exempt 9/2/83 Open/Bond 1,491.5 8.57
Income Fund; A 6
191 Putnam New York Tax Exempt 1/4/93 Open/Bond 216.11 8.55
Income Fund; B
192 Putnam New York Tax Exempt 4/10/95 Open/Bond 2.27 8.57
Income Fund; M
193 Putnam New York Tax Exempt 10/26/87 Open/Bond 37.05 1.00
Money Market Fund
194 Putnam New York Tax Exempt 11/7/90 Open/Bond 154.06 8.84
Opportunities Fund; A
195 Putnam New York Tax Exempt 2/1/94 Open/Bond 67.93 8.84
Opportunities Fund; B
196 Putnam New York Tax Exempt 2/10/95 Open/Bond 2.42 8.83
Opportunities Fund; M
197 Putnam Ohio Tax Exempt 10/23/89 Open/Bond 181.76 8.83
Income Fund; A
198 Putnam Ohio Tax Exempt 7/15/93 Open/Bond 58.33 8.82
Income Fund; B
199 Putnam Ohio Tax Exempt 4/3/95 Open/Bond 1.97 8.83
Income Fund; M
200 Putnam OTC & Emerging 11/1/82 Open/Equity 2,865.0 20.15
Growth Fund; A 1
201 Putnam OTC & Emerging 7/15/93 Open/Equity 1,347.7 19.13
Growth Fund; B 4
202 Putnam OTC & Emerging 12/2/94 Open/Equity 310.95 19.63
Growth Fund; M
203 Putnam OTC & Emerging 7/12/96 Open/Equity 113.70 20.33
Growth Fund; Y
204 Putnam Pennsylvania Tax 7/21/89 Open/Bond 175.46 8.96
Exempt Income Fund; A
205 Putnam Pennsylvania Tax 7/15/93 Open/Bond 95.88 8.95
Exempt Income Fund; B
206 Putnam Pennsylvania Tax 7/3/95 Open/Bond 2.33 8.96
Exempt Income Fund; M
207 Putnam Preferred Income 1/4/84 Open/Bond 111.58 8.62
Fund; A
208 Putnam Preferred Income 4/20/95 Open/Bond 10.97 8.60
Fund; M
209 Putnam Premier Income 2/29/95 Closed/Bond 1,086.1 7.71
Trust 2
210 Putnam Research Fund; A 10/2/95 Open/Equity 459.55 17.01
211 Putnam Research Fund; B 6/15/98 Open/Equity 475.08 16.88
212 Putnam Research Fund; C 2/1/99 Open/Equity 27.11 16.98
213 Putnam Research Fund; M 6/15/98 Open/Equity 40.81 16.92
214 Putnam Small Cap Value 4/12/99 Open/Equity 34.60 10.33
Fund; A
215 Putnam Small Cap Value 5/3/99 Open/Equity 14.86 10.32
Fund; B
216 Putnam Strategic Income 2/19/95 Open/Bond 81.28 7.45
Fund; A
217 Putnam Strategic Income 2/19/96 Open/Bond 126.36 7.46
Fund; B
218 Putnam Strategic Income 2/1/99 Open/Bond 4.49 7.47
Fund; C
219 Putnam Strategic Income 2/19/96 Open/Bond 8.89 7.45
Fund; M
220 Putnam Tax Exempt Income 12/31/76 Open/Bond 1,812.3 8.84
Fund; A 8
221 Putnam Tax Exempt Income 1/4/93 Open/Bond 230.82 8.84
Fund; B
222 Putnam Tax Exempt Income 2/16/95 Open/Bond 9.78 8.86
Fund; M
223 Putnam Tax Exempt Money 10/26/87 Open/Bond 77.36 1.00
Market Fund
224 Putnam Tax - Free Health 6/29/92 Closed/Bond 197.40 14.30
Care Fund
225 Putnam Tax - Free Income 9/20/93 Open/Bond 1,138.1 14.17
Trust 6
Tax - Free High Yield
Fund; A
226 Putnam Tax - Free Income 9/9/85 Open/Bond 781.17 14.19
Trust
Tax - Free High Yield Fund
B
227 Putnam Tax - Free Income 2/1/99 Open/Bond 2.74 14.16
Trust
Tax - Free High Yield Fund
C
228 Putnam Tax - Free Income 12/29/94 Open/Bond 24.34 14.17
Trust
Tax - Free High Yield Fund
M
229 Putnam Tax - Free Income 9/30/93 Open/Bond 246.53 14.74
Trust
Tax - Free Insured Fund; A
230 Putnam Tax - Free Income 9/9/85 Open/Bond 332.70 14.76
Trust
Tax - Free Insured Fund; B
231 Putnam Tax - Free Income 6/1/95 Open/Bond 1.88 14.78
Trust
Tax - Free Insured Fund; M
232 Putnam U.S. Core Fund 5/1/98 Open/Equity 3.47 11.38
233 Putnam U.S. Government 2/8/84 Open/Bond 1,996.5 12.67
Income Trust; A 2
234 Putnam U.S. Government 4/27/92 Open/Bond 1,182.5 12.61
Income Trust; B 6
235 Putnam U.S. Government 2/6/95 Open/Bond 137.97 12.64
Income Trust; M
236 Putnam U.S. Government 4/11/94 Open/Bond 29.23 12.66
Income Trust; Y
237 Putnam Utilities Growth 11/19/90 Open/Balanc 961.41 14.22
and Income Fund; A ed
238 Putnam Utilities Growth 4/27/92 Open/Balanc 670.63 14.15
and Income Fund; B ed
239 Putnam Utilities Growth 3/1/95 Open/Balanc 14.22 14.20
and Income Fund; M ed
240 Putnam Value Fund 5/1/98 Open/Balanc 2.37 9.48
ed
241 Putnam Vista Fund; A 6/3/68 Open/Equity 3,904.3 14.70
6
242 Putnam Vista Fund; B 3/1/93 Open/Equity 1,822.5 13.89
9
243 Putnam Vista Fund; M 12/1/94 Open/Equity 154.35 14.31
244 Putnam Vista Fund; Y 3/28/95 Open/Equity 471.64 14.92
245 Putnam Voyager Fund II; A 4/14/93 Open/Equity 920.16 26.25
246 Putnam Voyager Fund II; B 10/2/95 Open/Equity 846.47 25.50
247 Putnam Voyager Fund II; C 2/1/99 Open/Equity 25.48 26.20
248 Putnam Voyager Fund II; M 10/2/95 Open/Equity 100.91 25.77
249 Putnam Voyager Fund; A 4/1/96 Open/Equity 17,737. 25.03
33
250 Putnam Voyager Fund; B 4/27/92 Open/Equity 8,735.2 23.31
4
251 Putnam Voyager Fund; M 12/1/94 Open/Equity 401.12 24.38
252 Putnam Voyager Fund; Y 4/1/94 Open/Equity 2,389.4 25.47
2
253 Putnam VT Asia Pacific 5/1/95 Open/Equity 134.65 10.90
Growth Fund; IA
254 Putnam VT Asia Pacific 4/30/98 Open/Equity 0.84 10.88
Growth Fund; IB
255 Putnam VT Diversified 9/15/93 Open/Bond 653.16 9.77
Income Fund; IA
256 Putnam VT Diversified 4/6/98 Open/Bond 6.01 9.76
Income Fund; IB
257 Putnam VT Global Asset 2/1/88 Open/Balanc 998.53 18.19
Allocation Fund; IA ed
258 Putnam VT Global Asset 4/30/98 Open/Balanc 2.44 18.20
Allocation Fund; IB ed
259 Putnam VT George Putnam 4/30/98 Open/Equity 227.91 10.89
Fund; IA
260 Putnam VT George Putnam 4/30/98 Open/Equity 9.06 10.88
Fund; IB
261 Putnam VT Global Growth 5/1/90 Open/Equity 2,089.0 19.92
Fund; IA 1
262 Putnam VT Global Growth 4/30/98 Open/Equity 5.16 19.90
Fund; IB
263 Putnam VT Growth and 2/1/88 Open/Balanc 10,841. 29.18
Income Fund; IA ed 88
264 Putnam VT Growth and 4/6/98 Open/Balanc 33.83 29.14
Income Fund; IB ed
265 Putnam VT High Yield Fund; 2/1/88 Open/Bond 1,024.6 10.88
IA 2
266 Putnam VT High Yield Fund; 4/30/98 Open/Bond 6.01 10.88
IB
267 Putnam VT Health and 4/30/98 Open/Equity 192.67 10.19
Sciences Fund; IA
268 Putnam VT Health and 4/30/98 Open/Equity 5.14 10.19
Sciences Fund; IB
269 Putnam VT Income Fund; IA 2/1/88 Open/Bond 1,015.1 12.52
9
270 Putnam VT Income Fund; IB 4/30/98 Open/Bond 6.05 12.52
271 Putnam VT International 1/1/97 Open/Balanc 350.75 13.89
Growth and Income; IA ed
272 Putnam VT International 4/6/98 Open/Balanc 2.01 13.89
Growth and Income; IB ed
273 Putnam VT International 1/1/97 Open/Equity 157.00 13.73
New Opportunities Fund; IA
274 Putnam VT International 4/30/98 Open/Equity 1.28 13.72
New Opportunities Fund; IB
275 Putnam VT International 1/1/97 Open/Equity 392.55 15.19
Growth Fund; IA
276 Putnam VT International 4/30/98 Open/Equity 4.69 15.17
Growth Fund; IB
277 Putnam VT Investors Fund; 4/30/98 Open/Equity 552.17 12.79
IA
278 Putnam VT Investors Fund; 4/30/98 Open/Equity 14.69 12.78
IB
279 Putnam VT Money Market 2/1/88 Open/Bond 691.38 1.00
Fund; IA
280 Putnam VT Money Market 4/30/98 Open/Bond 12.35 1.00
Fund; IB
281 Putnam VT New 5/2/94 Open/Equity 4,141.9 28.89
Opportunities Fund; IA 5
282 Putnam VT New 4/30/98 Open/Equity 6.30 28.85
Opportunities Fund; IB
283 Putnam VT New Value Fund; 1/2/97 Open/Equity 298.41 13.52
IA
284 Putnam VT New Value Fund; 4/30/98 Open/Equity 2.42 13.51
IB
285 Putnam VT OTC & Emerging 4/30/98 Open/Equity 50.56 11.92
Growth Fund; IA
286 Putnam VT OTC & Emerging 4/30/98 Open/Equity 1.57 11.92
Growth Fund; IB
287 Putnam VT Research; IA 10/1/98 Open/Equity 74.52 13.26
288 Putnam VT Research; IB 10/1/98 Open/Equity 2.68 13.25
289 Putnam VT Small Cap Value 4/30/99 Open/Equity 4.48 10.99
Fund; IA
290 Putnam VT Small Cap Value 4/30/99 Open/Equity 0.38 10.99
Fund; IB
291 Putnam VT Utilities Growth 5/1/92 Open/Balanc 1,036.0 17.64
and Income Fund; IA ed 8
292 Putnam VT Utilities Growth 4/30/98 Open/Balanc 4.28 17.64
and Income Fund; IB ed
293 Putnam VT Vista Fund; IA 1/2/97 Open/Equity 375.08 16.60
294 Putnam VT Vista Fund; IB 4/30/98 Open/Equity 3.02 16.59
295 Putnam VT Voyager Fund; IA 2/1/88 Open/Equity 6,652.6 47.96
4
296 Putnam VT Voyager Fund; IB 4/30/98 Open/Equity 22.33 47.89
(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
June, 1999, Investment Management Company managed,
advised, and/or administered the following 115 funds and
fund portfolios (having an aggregate net asset value of
approximately $245 billion):
(5) Miscellaneous
There has been, or is, no litigation which had or is
expected to have a material effect on the Fund and/or 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.]
IV. OUTLINE OF THE FINANCIAL STATUS OF THE INVESTMENT
MANAGEMENT COMPANY
[Translation of Unaudited Semi-annual Accounts will be
attached.]
AMENDMENT TO SECURITIES REGISTRATION STATEMENT
PUTNAM GLOBAL GOVERNMENTAL INCOME TRUST
AMENDMENT TO THE SECURITIES REGISTRATION STATEMENT
To: Director of Kanto Local Finance Bureau
Filing Date: July 31, 1998
Name of the Registrant Trust: PUTNAM GLOBAL GOVERNMENTAL INCOME TRUST
Name and Official Title of Trustees: George Putnam
John A. Hill
William F. Pounds
Jameson A. Baxter
Hans H. Estin
Ronald J. Jackson
Elizabeth T. Kennan
Lawrence J. Lasser
Robert E. Patterson
George Putnam, III
A.J.C. Smith
W. Nicholas Thorndike
W. Thomas Stephens
Paul L. Joskow
John J. Mullin III
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 GLOBAL GOVERNMENTAL INCOME TRUST
Offering or Sale of Foreign
Investment Fund Securities:
Type and Aggregate Amount of Up to 80 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 80 million
Class M Shares
(The Maximum amount expected to be
sold is 1,034.4 million U.S.
dollars (approximately yen125.3billion).
Note 1: U.S.$ amount is translated into Japanese Yen at the
rate of U.S.$l.00=yen121.10 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 June 30, 1999.
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 29, 1999 (U.S.$12.93) by 80 million
Class M Shares for convenience.
Places where a copy of this Amendment to the Securities
Registration
Statement is available for Public Inspection
Not applicable.
(Total number of pages of this Amendment to Securities
Registration Statement in Japanese is
2 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
("SRS") filed on March 16, 1999 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 4 of the original Japanese SRS)
The following matters in the original Japanese 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 Japanese SRS] [Aforementioned Semi-annual
Report]
I. Description of the Fund I. Status of Investment
5. Status of Investment Portfolio of the Fund
Portfolio
(A) Diversification of (1 Diversification of
Investment Portfolio ) Investment Portfolio
(the aforementioned
Japanese Semi-annual
Report, page 1)
(B) Results of Past Operations (2 Results of Past Operations
)
Record of Changes in Net Record of Changes in Net
(1) Assets (Class M Shares) a) Assets (Class M Shares)
(Regarding the amounts as (Ditto, page [ ]2)
at the end of each month
during one-year period (Regarding the amounts as
from, and including, the at the end of each month
latest relevant date during one-year period
appertaining to the filing from, and including, the
date of the original latest relevant date
Japanese SRS) appertaining to the filing
date of the afore-mentioned
Semi-annual Report)
Record of Distributions Record of Distributions
(2) Paid (Class M Shares) b) Paid (Class M Shares)
(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 Japanese SRS) relevant date of the afore-
mentioned Semi-annual
Report)
II. Outline of the Trust II Outline of the Fund
.
1. Trust 1. Fund
(E) Amount of Capital Share (1 Amount of Capital Share
) (Ditto, page [ ]4)
(G) Information Concerning (2 Information Concerning
Major Shareholders ) Major Shareholders (Ditto,
page [ ]4)
(H) Information Concerning (3 Information Concerning
Directors, Officers and ) Directors, Officers and
Employees Employees (Ditto, page [
]4)
(I) Description of Business (4 Description of Business and
and Outline of Operation ) Outline of Operation
(Ditto, page [ ]6)
(J) Miscellaneous (5 Miscellaneous(Ditto, page [
) ]6)
2. Putnam Investment 2. Putnam Investment
Management, Inc. Management, Inc.
(Investment Management (Investment Management
Company) Company)
(E) Amount of Capital Share (1 Amount of Capital Share
) (Ditto, page [ ]7)
(G) Information Concerning (2 Information Concerning
Major Shareholders ) Major Shareholders (Ditto,
page [ ]7)
(H) Information Concerning (3 Information Concerning
Officers and Employees ) Officers and Employees
(Ditto, page [ ]7)
(I) Description of Business (4 Description of Business and
and Outline of Operation ) Outline of Operation
(Ditto, page [ ]29)
(J) Miscellaneous (5 Miscellaneous(Ditto, page [
) ]50)
With respect to Section IV the Financial Conditions of
the Fund in the original SRS, Item III Financial
Conditions of the Fund in the aforementioned Semi-annual
Report (Ditto, from page 3[ ]1 and to 52[ ]) is added
to the original SRS.
Part III. SPECIAL INFORMATION (page 6 of the original Japanese SRS)
With respect to Section II the Financial Conditions of
the Investment Management Company in the original SRS,
Item IV Financial Conditions of the Investment Management
Company in the aforementioned Semi-annual Report (Ditto,
from page [ ]53 and [ ]to 69) is added to the original
SRS.
