PUTNAM TAX EXEMPT MONEY MARKET FUND
DEFA14A, 1994-04-28
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TELEPHONE VOTING SCRIPT (OPERATOR READING TO SHAREHOLDER CALLING
IN)

Good (morning) (afternoon) (evening) this is Tritech Services; I
am Operator (name).  May I please have the three digit Fund ID
No. which appears on the priority letter?

May I have your four digit PIN No. please?  Name and address? 
Social Security No.?  Number of shares?

I will now read to you the text of the proxy card.

PUTNAM CALIFORNIA TAX EXEMPT MONEY MARKET FUND 
Proxy for the Meeting of Shareholders, June 2, 1994.
This Proxy is solicited on behalf of the Trustees of the Fund.

(text of proxy card)

The Trustees recommend a vote FOR the proposal listed below.

1.   Approve an Agreement and Plan of Reorganization providing
     for the transfer of all of the assets of the Fund to Putnam
     Tax Exempt Money Market Fund (the "Money Market Fund") in
     exchange for shares of the Money Market Fund and the
     assumption by the Money Market Fund of all of the
     liabilities of the Fund, and the distribution of such shares
     to the shareholders of the Fund in liquidation of the Fund.
 
       -----               -----               -----
     /    /              /    /              /    /
     ----  FOR           ----  AGAINST       ----  ABSTAIN

How do you wish to vote on this item?

Thank you. Do you wish to send the entire message?
      -----
     /    /                                                 
     ----  YES 

To repeat your instructions:  on item 1 you voted --------------.
     
                                   and you wish to send the
                                   entire message

Is this correct?

May we please have your name and phone number where you can be
reached so that we may call back to verify your vote?

               Phone Number 1      --------------------
               Phone Number 2      --------------------

Thank you.<PAGE>
                 TELEPHONIC VOTING CONFIRMATION PROCEDURES

After vote has been received from the shareholder, the operator
will call the shareholder and relay the following text:

     Good (morning) (afternoon) (evening) this is Tritech
Services; I am Operator (name).  I am calling to confirm your
telephonic vote on Putnam California Tax Exempt Money Market
Fund. Is this (name of shareholder)?  May I please have your
Social Security number?

     On item 1, reorganization of the Fund, you voted
          (FOR) (AGAINST) (ABSTAIN)

     Is this information correct?

     (If shareholder response is yes): Thank you, a written
confirmation of your vote will be mailed to you.

     (If shareholder response is no): May I have the corrected
information?  (The operator makes note of adjusted vote and
confirms the change to the shareholder.)  Thank you, a written
confirmation of your vote will be mailed to you.

<PAGE>
TELEPHONE VOTING SCRIPT (OPERATOR READING TO SHAREHOLDER CALLING
IN)

Good (morning) (afternoon) (evening) this is Tritech Services; I
am Operator (name).  May I please have the three digit Fund ID
No. which appears on the priority letter?

May I have your four digit PIN No. please?  Name and address? 
Social Security No.?  Number of shares?

I will now read to you the text of the proxy card.

PUTNAM NEW YORK TAX EXEMPT MONEY MARKET FUND 
Proxy for the Meeting of Shareholders, June 2, 1994.
This Proxy is solicited on behalf of the Trustees of the Fund.

(text of proxy card)

The Trustees recommend a vote FOR the proposal listed below.

1.   Approve an Agreement and Plan of Reorganization providing
     for the transfer of all of the assets of the Fund to Putnam
     Tax Exempt Money Market Fund (the "Money Market Fund") in
     exchange for shares of the Money Market Fund and the
     assumption by the Money Market Fund of all of the
     liabilities of the Fund, and the distribution of such shares
     to the shareholders of the Fund in liquidation of the Fund.
 
       -----               -----               -----
     /    /              /    /              /    /
     ----  FOR           ----  AGAINST       ----  ABSTAIN

How do you wish to vote on this item?

Thank you. Do you wish to send the entire message?
      -----
     /    /                                            
     ----  YES 

To repeat your instructions:  on item 1 you voted --------------.
     
                                   and you wish to send the 
                                   entire message

Is this correct?

May we please have your name and phone number where you can be
reached so that we may call back to verify your vote?

               Phone Number 1      --------------------
               Phone Number 2      --------------------

Thank you.<PAGE>
                 TELEPHONIC VOTING CONFIRMATION PROCEDURES

After vote has been received from the shareholder, the operator
will call the shareholder and relay the following text:

     Good (morning) (afternoon) (evening) this is Tritech
Services; I am Operator (name).  I am calling to confirm your
telephonic vote on Putnam New York Tax Exempt Money Market Fund.
Is this (name of shareholder)?  May I please have your Social
Security number?

     On item 1, reorganization of the Fund, you voted
          (FOR) (AGAINST) (ABSTAIN)

     Is this information correct?

     (If shareholder response is yes): Thank you, a written
confirmation of your vote will be mailed to you.

     (If shareholder response is no): May I have the corrected
information?  (The operator makes note of adjusted vote and
confirms the change to the shareholder.)  Thank you, a written
confirmation of your vote will be mailed to you.






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