PUTNAM TAX EXEMPT MONEY MARKET FUND
DEFA14A, 1994-03-21
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PUTNAM LOGO


     We are forwarding to you a copy of the Prospectus/Proxy
Statement relating to the proposed reorganization between Putnam
California Tax Exempt Money Market Fund and Putnam Tax Exempt
Money Market Fund, described therein.


Sincerely,


Putnam Mutual Funds Corp.



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