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October 2, 2000 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Dear Sirs: We have read the statements made by John D. Hughes, Treasurer of The Putnam Funds (copy attached), which we understand has been filed in response to Sub-Item 77k or 102j of Form N-SAR and agree with the statements concerning our firm contained therein. Very truly yours, /s/ PricewaterhouseCoopers LLP
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