SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. )
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Filed by the Registrant / X /
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Filed by a party other than the Registrant / /
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Check the appropriate box:
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/ / Preliminary Proxy Statement
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/ / Confidential, for Use of the Commission Only (as
- ---- permitted by Rule 14a-6(e) (2))
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/ X / Definitive Proxy Statement
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/ / Definitive Additional Materials
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/ / Soliciting Material Pursuant to Sec. 240.14a-11(c) or
- ---- Sec. 240.14a-12
PUTNAM CALIFORNIA INVESTMENT GRADE MUNICIPAL TRUST
PUTNAM HIGH YIELD MUNICIPAL TRUST
PUTNAM INVESTMENT GRADE MUNICIPAL TRUST
PUTNAM INVESTMENT GRADE MUNICIPAL TRUST II
PUTNAM INVESTMENT GRADE MUNICIPAL TRUST III
PUTNAM MANAGED MUNICIPAL INCOME TRUST
PUTNAM MUNICIPAL OPPORTUNITIES TRUST
PUTNAM NEW YORK INVESTMENT GRADE MUNICIPAL TRUST
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement,
if other than Registrant)
Payment of Filing Fee (Check the appropriate box):
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/ X / No fee required
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/ / Fee computed on table below per Exchange Act Rule 14a
- ---- 6(i)(1) and 0-11
<PAGE>
(1) Title of each class of securities to which
transaction applies:
(2) Aggregate number of securities to which transaction
applies:
(3) Per unit price or other underlying value of
transaction computed pursuant to Exchange Act Rule 0-11
(set forth the amount on which the filing fee is
calculated and state how it was determined):
(4) Proposed maximum aggregate value of transaction:
(5) Total fee paid:
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/ / Fee paid previously with preliminary materials.
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/ / Check box if any part of the fee is offset as provided
- ---- by Exchange Act Rule 0-11(a)(2) and identify the filing
for which the offsetting fee was paid previously.
Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its
filing.
(1) Amount Previously Paid:
(2) Form, Schedule or Registration Statement No.:
(3) Filing Party:
(4) Date Filed:
<PAGE>
IMPORTANT INFORMATION
FOR SHAREHOLDERS IN
PUTNAM CALIFORNIA INVESTMENT GRADE MUNICIPAL TRUST
PUTNAM HIGH YIELD MUNICIPAL TRUST
PUTNAM INVESTMENT GRADE MUNICIPAL TRUST
PUTNAM INVESTMENT GRADE MUNICIPAL TRUST II
PUTNAM INVESTMENT GRADE MUNICIPAL TRUST III
PUTNAM MANAGED MUNICIPAL INCOME TRUST
PUTNAM MUNICIPAL OPPORTUNITIES TRUST
PUTNAM NEW YORK INVESTMENT GRADE MUNICIPAL TRUST
The document you hold in your hands contains your proxy statement
and proxy card. A proxy card is, in essence, a ballot. When you
vote your proxy, it tells us how to vote on your behalf on
important issues relating to your fund. If you complete and sign
the proxy, we'll vote it exactly as you tell us. If you simply
sign the proxy, we'll vote it in accordance with the Trustees'
recommendations on page 4.
We urge you to spend a couple of minutes with the proxy
statement, fill out your proxy card, and return it to us. When
shareholders don't return their proxies in sufficient numbers, we
have to incur the expense of follow-up solicitations, which can
cost your fund money.
We want to know how you would like to vote and welcome your
comments. Please take a few moments with these materials and
return your proxy to us.
(PUTNAM LOGO APPEARS HERE)
BOSTON * LONDON * TOKYO
<PAGE>
Table of contents
A Message from the Chairman. . . . . . . . . . . . . . . . . . . . . . . .1
Notice of Shareholder Meeting. . . . . . . . . . . . . . . . . . . . . . .2
Trustees' Recommendations. . . . . . . . . . . . . . . . . . . . . . . .. 4
Proxy card enclosed
If you have any questions, please contact us at the special toll-
free number we have set up for you (1-800-225-1581) or call your
financial adviser.
<PAGE>
A Message from the Chairman
(Photograph of George Putnam appears here)
Dear Shareholder:
I am writing to you to ask for your vote on important questions
that affect your investment in your fund. While you are, of
course, welcome to join us at your fund's meeting, most
shareholders cast their vote by filling out and signing the
enclosed proxy. We are asking for your vote on the following
matters: (1) fixing the number of Trustees and electing your
fund's Trustees and (2) ratifying the selection of your fund's
independent auditors.
Although we would like very much to have each shareholder attend
his or her fund's meeting, we realize this is not possible.
Whether or not you plan to be present, we need your vote. We
urge you to complete, sign, and return the enclosed proxy card
promptly. A postage-paid envelope is enclosed.
I'm sure that you, like most people, lead a busy life and are
tempted to put this proxy aside for another day. Please don't.
When shareholders do not return their proxies, their fund may
have to incur the expense of follow-up solicitations. All
shareholders benefit from the speedy return of proxies.
Your vote is important to us. We appreciate the time and
consideration that I am sure you will give this important matter.
If you have questions about the proposals, contact your financial
adviser or call a Putnam customer service representative at
1-800-225-1581.
Sincerely yours,
/s/ George Putnam
(signature of George Putnam)
George Putnam, Chairman
<PAGE>
PUTNAM CALIFORNIA INVESTMENT GRADE MUNICIPAL TRUST
PUTNAM HIGH YIELD MUNICIPAL TRUST
PUTNAM INVESTMENT GRADE MUNICIPAL TRUST
PUTNAM INVESTMENT GRADE MUNICIPAL TRUST II
PUTNAM INVESTMENT GRADE MUNICIPAL TRUST III
PUTNAM MANAGED MUNICIPAL INCOME TRUST
PUTNAM MUNICIPAL OPPORTUNITIES TRUST
PUTNAM NEW YORK INVESTMENT GRADE MUNICIPAL TRUST
Notice of Annual Meeting of Shareholders
This is the formal agenda for your fund's shareholder meeting.
It tells you what matters will be voted on and the time and place
of the meeting, if you can attend in person.
To the Shareholders of Putnam California Investment Grade
Municipal Trust, Putnam High Yield Municipal Trust, Putnam
Investment Grade Municipal Trust, Putnam Investment Grade
Municipal Trust II, Putnam Investment Grade Municipal Trust III,
Putnam Managed Municipal Income Trust, Putnam Municipal
Opportunities Trust and Putnam New York Investment Grade
Municipal Trust:
The Annual Meeting of Shareholders of your fund will be held on
October 9, 1997 at 2:00 p.m., Boston time, on the eighth floor of
One Post Office Square, Boston, Massachusetts, to consider the
following:
1. Fixing the number of Trustees and electing Trustees. See
page 6.
2. Ratifying the selection by the Trustees of the independent
auditors of your fund for its current fiscal year. See
page 32.
3. Transacting other business as may properly come before the
meeting.
By the Trustees
George Putnam, Chairman
William F. Pounds, Vice Chairman
Jameson A. Baxter Robert E. Patterson
Hans H. Estin Donald S. Perkins
John A. Hill George Putnam, III
Ronald J. Jackson A.J.C. Smith
Elizabeth T. Kennan W. Nicholas Thorndike
Lawrence J. Lasser
WE URGE YOU TO MARK, SIGN, DATE, AND MAIL THE ENCLOSED PROXY IN
THE POSTAGE-PAID ENVELOPE PROVIDED SO YOU WILL BE REPRESENTED AT
THE MEETING.
July 11, 1997<PAGE>
Proxy Statement
This document will give you the information you need to vote on
the matters listed on the previous pages. Much of the
information in the proxy statement is required under rules of the
Securities and Exchange Commission ("SEC"); some of it is
technical. If there is anything you don't understand, please
contact us at our special toll-free number, 1-800-225-1581, or
call your financial adviser.
Who is asking for my vote?
The enclosed proxy is solicited by the Trustees of Putnam
California Investment Grade Municipal Trust, Putnam High Yield
Municipal Trust, Putnam Investment Grade Municipal Trust, Putnam
Investment Grade Municipal Trust II, Putnam Investment Grade
Municipal Trust III, Putnam Managed Municipal Income Trust,
Putnam Municipal Opportunities Trust and Putnam New York
Investment Grade Municipal Trust for use at the Annual Meeting of
Shareholders of your fund to be held on October 9, 1997, and, if
your fund's meeting is adjourned, at any later meetings, for the
purposes stated in the Notice of Annual Meeting (see previous
pages).
How do your fund's Trustees recommend that shareholders vote on
these proposals?
The Trustees recommend that you vote
1. For fixing the number of Trustees as proposed and the
election of all nominees; and
2. For ratifying the selection of the independent auditors of
your fund as indicated below:
Price Waterhouse LLP Putnam California Investment Grade
Municipal Trust
Putnam High Yield Municipal Trust
Putnam Investment Grade Municipal
Trust
Putnam New York Investment Grade
Municipal Trust
Coopers & Lybrand L.L.P. Putnam Investment Grade Municipal
Trust II
Putnam Investment Grade Municipal
Trust III
Putnam Managed Municipal Income
Trust
Putnam Municipal Opportunities
Trust
<PAGE>
Who is eligible to vote?
Shareholders of record at the close of business on July 11, 1997,
are entitled to be present and to vote at the meeting or any
adjourned meeting. The Notice of Annual Meeting, the proxy, and
the Proxy Statement are being mailed to shareholders of record on
or about July 17, 1997.
Each share is entitled to one vote. Unless otherwise noted, if
your fund's shares are divided into preferred and common shares,
the holders of your fund's preferred shares and the holders of
your fund's common shares will vote together as a single class.
Shares represented by duly executed proxies will be voted in
accordance with shareholders' instructions. If you sign the
proxy, but don't fill in a vote, your shares will be voted in
accordance with the Trustees' recommendations. If any other
business is brought before the meeting, your shares will be voted
at the Trustees' discretion.
The Proposals
I. ELECTION OF TRUSTEES
Who are the nominees for Trustees?
The Nominating Committee of the Trustees recommends that the
number of Trustees be fixed at thirteen and that you vote for the
election of the nominees described below. Each nominee is
currently a Trustee of your fund and of the other Putnam funds.
Pursuant to the bylaws of your fund and the Investment Company
Act of 1940, holders of the preferred shares of the fund are
entitled to elect two Trustees. The remaining Trustees for the
fund will be elected by the holders of its preferred shares and
common shares voting together as a single class. Therefore,
Messrs. Hill and Patterson have been nominated as Trustees to be
elected by the holders of the preferred shares, while the other
eleven Trustees have been nominated to be elected by the holders
of your fund's preferred shares and common shares voting together
as a single class.
The Nominating Committee of the Trustees consists solely of
Trustees who are not "interested persons" (as defined in the
Investment Company Act of 1940) of your fund or of Putnam
Investment Management, Inc., your fund's investment manager
("Putnam Management").
<PAGE>
Jameson Adkins Baxter
[Insert Picture]
Ms. Baxter, age 53, is the President of Baxter Associates, Inc.,
a management and financial consulting firm which she founded in
1986. During that time, she was also a Vice President and
Principal of the Regency Group, Inc., and a Consultant to First
Boston Corporation, both of which are investment banking firms.
From 1965 to 1986, Ms. Baxter held various positions in
investment banking and corporate finance at First Boston.
Ms. Baxter currently also serves as a Director of Banta
Corporation, Avondale Financial Corp., and ASHTA Chemicals, Inc.
She is also the Chairman Emeritus of the Board of Trustees of
Mount Holyoke College, having previously served as Chairman for
five years and as a Board member for thirteen years; an Honorary
Trustee and past President of the Board of Trustees of the Emma
Willard School; and Chair of the Board of Governors of Good
Shepherd Hospital. Ms. Baxter is a graduate of Mount Holyoke
College.
Hans H. Estin
[Insert Picture]
Mr. Estin, age 68, is a Chartered Financial Analyst and the Vice
Chairman of North American Management Corp., a registered
investment adviser serving individual clients and their families.
Mr. Estin currently also serves as a Corporation Member of The
Schepens Eye Research Institute; and a Trustee of New England
Aquarium. He previously served as the Chairman of the Board of
Trustees of Boston University and is currently active in various
other civic associations, including the Boys & Girls Clubs of
Boston, Inc. Mr. Estin is a graduate of Harvard College and
holds honorary doctorates from Merrimack College and Boston
University.
John A. Hill
[Insert Picture]
Mr. Hill, age 55, is the Chairman and Managing Director of First
Reserve Corporation, a registered investment adviser investing in
companies in the world-wide energy industry on behalf of
institutional investors.
Prior to acquiring First Reserve in 1983, Mr. Hill held executive
positions with several investment advisory firms and held various
positions with the Federal government, including Associate
Director of the Office of Management and Budget and Deputy
Administrator of the Federal Energy Administration.
Mr. Hill currently also serves as a Director of Snyder Oil
Corporation, an exploration and production company which he
founded, Maverick Tube Corporation, a manufacturer of structural
steel, pipe and well casings, TransMontaingne Oil Company, a
refined oil product pipeline and distribution company,
Weatherford Enterra, Inc., an oil field service company, various
private companies controlled by First Reserve Corporation, and
various First Reserve Funds. He is also a Member of the Board of
Advisors of Fund Directions. He is currently active in various
business associations, including the Economic Club of New York,
and lectures on energy issues in the United States and Europe.
Mr. Hill is a graduate of Southern Methodist University.
Ronald J. Jackson
[Insert Picture]
Mr. Jackson, age 53, was Chairman of the Board, President and
Chief Executive Officer of Fisher-Price, Inc., a major toy
manufacturer, from 1990 to 1993. He previously served as
President and Chief Executive Officer of Stride-Rite, Inc., a
manufacturer and distributor of footwear, from 1989 to 1990, and
as President and Chief Executive Officer of Kenner Parker Toys,
Inc., a major toy and game manufacturer, from 1985 to 1987.
Prior to that, he held various financial and marketing positions
at General Mills, Inc. from 1966 to 1985, including Vice
President, Controller and Vice President of Marketing for Parker
Brothers, a toy and game company, and President of Talbots, a
retailer and direct marketer of women's apparel.
Mr. Jackson currently serves as a Director of Safety 1st, Inc., a
company which markets a wide range of child care and safety
products. He also serves as a Trustee of Salem Hospital and the
Peabody Essex Museum. Mr. Jackson is a graduate of Michigan
State University Business School.
Elizabeth T. Kennan
[Insert Picture]
Ms. Kennan, age 59, is President Emeritus and Professor of Mount
Holyoke College. From 1978 through June 1995, she was President
of Mount Holyoke College. From 1966 to 1978, she was on the
faculty of Catholic University, where she taught history and
published numerous articles.
Ms. Kennan currently also serves as a Director of NYNEX
Corporation, a telecommunications company, Northeast Utilities,
the Kentucky Home Life Insurance Companies, and Talbots. She
also serves as a Member of The Folger Shakespeare Library
Committee. She is currently active in various educational and
civic associations. Ms. Kennan is a graduate of Mount Holyoke
College, the University of Washington and St. Hilda College at
Oxford University and holds several honorary doctorates.
Lawrence J. Lasser*
[Insert Picture]
Mr. Lasser, age 54, is the Vice President of your fund and the
other Putnam funds. He has been the President, Chief Executive
Officer and a Director of Putnam Investments, Inc. and Putnam
Management since 1985, having begun his career there in 1969.
Mr. Lasser currently also serves as a Director of Marsh &
McLennan Companies, Inc., the parent company of Putnam
Management, and the United Way of Massachusetts Bay. He is a
Member of the Board of Overseers of the Museum of Fine Arts in
Boston, The Council on Foreign Relations, and a Member of the
Board of Governors and Executive Committee at the Investment
Company Institute. He is also a Trustee of the Beth
Israel\Deaconess Medical Center in Boston. Mr. Lasser is a
graduate of Antioch College and Harvard Business School.
Robert E. Patterson
[Insert Picture]
Mr. Patterson, age 52, is the Executive Vice President and
Director of Acquisitions of Cabot Partners Limited Partnership, a
registered investment adviser which manages real estate
investments for institutional investors. Prior to 1990, he was
the Executive Vice President of Cabot, Cabot & Forbes Realty
Advisors, Inc., the predecessor company of Cabot Partners. Prior
to that, he was a Senior Vice President of the Beal Companies, a
real estate management, investment and development company. He
has also worked as an attorney and held various positions in
state government, including the founding Executive Director of
the Massachusetts Industrial Finance Agency.
Mr. Patterson currently also serves as Chairman of the Joslin
Diabetes Center and as a Director of Brandywine Trust Company.
Mr. Patterson is a graduate of Harvard College and Harvard Law
School.
Donald S. Perkins*
[Insert Picture]
Mr. Perkins, age 70, is the retired Chairman of the Board of
Jewel Companies, Inc., a diversified retailer, where among other
roles he served as President, Chief Executive Officer and
Chairman of the Board from 1965 to 1980. He currently also
serves as a Director of various other public corporations,
including AON Corp., an insurance company, Cummins Engine
Company, Inc., an engine and power generator equipment
manufacturer and assembler, Current Assets L.L.C., a corporation
providing financial staffing services, LaSalle Street Fund, Inc.
and LaSalle U.S. Realty Income and Growth Fund, Inc., real estate
investment trusts, Lucent Technologies Inc., Ryerson Tull, Inc.,
America's largest steel service corporation, Springs Industries,
Inc., a textile manufacturer, and Time Warner, Inc., one of the
nation's largest media conglomerates. He previously served as a
Director of several other major public corporations, including
Corning Glass Works, Eastman Kodak Company, Firestone Tire &
Rubber Company and Kmart Corporation.
Mr. Perkins currently also serves as a Trustee and Vice Chairman
of Northwestern University and as a Trustee of the Hospital
Research and Education Trust. He is currently active in various
civic and business associations, including the Business Council
and the Civic Committee of the Commercial Club of Chicago, of
which he is the founding Chairman. Mr. Perkins is a graduate of
Yale University and Harvard Business School and holds an honorary
doctorate from Loyola University of Chicago.
William F. Pounds
[Insert Picture]
Dr. Pounds, age 69, is the Vice Chairman of your fund and of the
other Putnam funds. He has been a Professor of Management at the
Alfred P. Sloan School of Management at the Massachusetts
Institute of Technology since 1961 and served as Dean of that
School from 1966 to 1980. He previously served as Senior Advisor
to the Rockefeller Family and Associates and was a past Chairman
of Rockefeller & Co., Inc., a registered investment adviser which
manages Rockefeller family assets, and Rockefeller Trust Company.
Dr. Pounds currently also serves as a Director of IDEXX
Laboratories, Inc., PerSeptive Biosystems, Inc., Management
Sciences For Health, Inc. and Sun Company, Inc. He is also a
Trustee of the Museum of Fine Arts in Boston; an Overseer of WGBH
Educational Foundation, and a Fellow of The American Academy of
Arts and Sciences. He previously served as a Director of Fisher-
Price, Inc. and General Mills, Inc. Dr. Pounds is a graduate of
Carnegie-Mellon University.
George Putnam*
[Insert Picture]
Mr. Putnam, age 70, is the Chairman and President of your fund
and of the other Putnam funds. He is the Chairman and a Director
of Putnam Management and Putnam Mutual Funds Corp. and a Director
of Marsh & McLennan, their parent company. Mr. Putnam is the son
of the founder of the Putnam funds and Putnam Management and has
been employed in various capacities by Putnam Management since
1951, including Chief Executive Officer from 1961 to 1973. He is
a former Overseer and Treasurer of Harvard University; a past
Chairman of the Harvard Management Company; and a Trustee
Emeritus of Wellesley College and Bradford College.
Mr. Putnam currently also serves as a Director of Freeport-
McMoRan, Inc., Freeport Copper and Gold, Inc., McMoRan Oil and
Gas, Inc., mining and natural resources companies and Houghton
Mifflin Company, a major publishing company. He is also a
Trustee of Massachusetts General Hospital, McLean Hospital,
Vincent Memorial Hospital, WGBH Educational Foundation and the
Museum of Fine Arts and the Museum of Science in Boston; the New
England Aquarium; an Overseer of Northeastern University; and a
Fellow of The American Academy of Arts and Sciences. Mr. Putnam
is a graduate of Harvard College and Harvard Business School and
holds honorary doctorates from Bates College and Harvard
University.
George Putnam, III*
[Insert Picture]
Mr. Putnam, age 45, is the President of New Generation Research,
Inc., a publisher of financial advisory and other research
services relating to bankrupt and distressed companies, and New
Generation Advisers, Inc., a registered investment adviser which
provides advice to private funds specializing in investments in
such companies. Prior to founding New Generation in 1985, Mr.
Putnam was an attorney with the Philadelphia law firm Dechert
Price & Rhoads.
Mr. Putnam currently also serves as a Director of the
Massachusetts Audubon Society and The Boston Family Office,
L.L.C., a registered investment advisor that provides financial
services to individuals and families. He is also a Trustee of
the Sea Education Association and St. Mark's School and an
Overseer of the New England Medical Center. Mr. Putnam is a
graduate of Harvard College, Harvard Business School and Harvard
Law School.
A.J.C. Smith*
[Insert Picture]
Mr. Smith, age 63, is the Chairman and Chief Executive Officer of
Marsh & McLennan Companies, Inc. He has been employed by Marsh &
McLennan and related companies in various capacities since 1961.
Mr. Smith is a Director of the Trident Corp., and he also serves
as a Trustee of the Carnegie Hall Society, the Central Park
Conservancy, the Educational Broadcasting Corporation, the
Economic Club of New York, the U.S. Chamber of Commerce, and is a
Founder of the Museum of Scotland Society. He was educated in
Scotland and is a Fellow of the Faculty of Actuaries in
Edinburgh, a Fellow of the Canadian Institute of Actuaries, a
Fellow of the Conference of Actuaries, an Associate of the
Society of Actuaries, a Member of the American Academy of
Actuaries, the International Actuarial Association and the
International Association of Consulting Actuaries.
W. Nicholas Thorndike**
[Insert Picture]
Mr. Thorndike, age 64, serves as a Director of various
corporations and charitable organizations, including Data General
Corporation, a computer and high technology company, Bradley Real
Estate, Inc., a real estate investment firm, Providence Journal
Co., a newspaper publisher, and Courier Corporation, a book
binding and printing company. He is also a Trustee of Eastern
Utilities Associates, Massachusetts General Hospital, where he
previously served as chairman and president, and Northeastern
University.
Prior to December 1988, he was the Chairman of the Board and
Managing Partner of Wellington Management Company/Thorndike,
Doran, Paine & Lewis, a registered investment adviser which
manages mutual funds and institutional assets. He also
previously served as a Trustee of the Wellington Group of Funds
(now The Vanguard Group) and was the Chairman and a Director of
Ivest Fund, Inc. Mr. Thorndike is a graduate of Harvard College.
- ----------------------------
* Nominees who are or may be deemed to be "interested persons"
(as defined in the Investment Company Act of 1940) of your
fund, Putnam Management, and Putnam Mutual Funds Corp.
("Putnam Mutual Funds"), the principal underwriter for all
the open-end Putnam funds and an affiliate of Putnam
Management. Messrs. Putnam, Lasser, and Smith are deemed
"interested persons" by virtue of their positions as
officers or shareholders of your fund, or directors of
Putnam Management, Putnam Mutual Funds, or Marsh & McLennan
Companies, Inc., the parent company of Putnam Management and
Putnam Mutual Funds. Mr. George Putnam, III, Mr. Putnam's
son, is also an "interested person" of your fund, Putnam
Management, and Putnam Mutual Funds. Mr. Perkins may be
deemed to be an "interested person" of your fund because of
his service as a director of a certain publicly held company
that includes registered broker-dealer firms among its
subsidiaries. Neither your fund nor any of the other Putnam
funds currently engages in any transactions with such firms
except that certain of such firms act as dealers in the
retail sale of shares of certain Putnam funds in the
ordinary course of their business. The balance of the
nominees are not "interested persons."
** In February 1994 Mr. Thorndike accepted appointment as a
successor trustee of certain private trusts in which he has
no beneficial interest. At that time he also became
Chairman of the Board of two privately owned corporations
controlled by such trusts, serving in that capacity until
October 1994. These corporations filed voluntary petitions
for relief under Chapter 11 of the U.S. Bankruptcy Code in
August 1994.
Except as indicated above, the principal occupations and business
experience of the nominees for the last five years have been with
the employers indicated, although in some cases they have held
different positions with those employers. All the nominees were
elected by the shareholders in October 1996. The 13 nominees for
election as Trustees at the shareholder meeting of your fund who
receive the greatest number of votes will be elected Trustees of
your fund. The Trustees serve until their successors are elected
and qualified. Each of the nominees has agreed to serve as a
Trustee if elected. If any of the nominees is unavailable for
election at the time of the meeting, which is not anticipated,
the Trustees may vote for other nominees at their discretion, or
the Trustees may recommend that the shareholders fix the number
of Trustees at less than 13 for your fund.
What are the Trustees' responsibilities?
Your fund's Trustees are responsible for the general oversight of
your fund's business and for assuring that your fund is managed
in the best interests of its shareholders. The Trustees
periodically review your fund's investment performance as well as
the quality of other services provided to your fund and its
shareholders by Putnam Management and its affiliates, including
administration, custody, distribution and investor servicing. At
least annually, the Trustees review the fees paid to Putnam
Management and its affiliates for these services and the overall
level of your fund's operating expenses. In carrying out these
responsibilities, the Trustees are assisted by an independent
administrative staff and by your fund's auditors and legal
counsel, which are selected by the Trustees and are independent
of Putnam Management and its affiliates.
Do the Trustees have a stake in your fund?
The Trustees believe it is important that each Trustee have a
significant investment in the Putnam funds. The Trustees
allocate their investments among the more than 96 Putnam funds
based on their own investment needs. The Trustees' aggregate
investments in the Putnam funds total over $56 million. The
table below lists each Trustee's current investments in the fund
and in the Putnam funds as a group based on beneficial ownership.
Except as otherwise noted, each Trustee has sole voting power and
sole investment power with respect to his or her shares.<PAGE>
Share Ownership by
Trustees
Year first Number of
elected as shares of
Trustee of all Putnam
the Putnam funds owned
Trustees funds as of 5/15/97 (1)
- -------------------------------------------------------------------------------
Jameson A. Baxter 1994 48,336
Hans H. Estin 1972 29,539
John A. Hill 1985 142,061
Ronald J. Jackson 1996 124,061
Elizabeth T. Kennan 1992 26,197
Lawrence J. Lasser 1992 567,522
Robert E. Patterson 1984 63,328
Donald S. Perkins 1982 168,837
William F. Pounds 1971 324,764
George Putnam 1957 1,772,505
George Putnam, III 1984 309,877
A.J.C. Smith 1986 51,567
W. Nicholas Thorndike 1992 81,992
- --------------------------------------------------------------------------------
(1) These holdings do not include shares of Putnam money market funds.
<PAGE>
Share Ownership by Trustees
Number of Shares owned as of May 15, 1997 of:
Putnam California Putnam High Putnam Investment
Investment Grade Yield Municipal Grade Municipal
Trustee Municipal Trust Trust Trust
- ------------------------------------------------------------------------------
Jameson A. Baxter 118 119 119
Hans H. Estin 121 162 161
John A. Hill 100 100 100
Ronald J. Jackson 200(1) 200(1) 200(1)
Elizabeth T. Kennan 229(2) 222(3) 222(3)
Lawrence J. Lasser 100 100 100
Robert E. Patterson 100 300 300
Donald S. Perkins 173 1,260 513
William F. Pounds 335 500 500
George Putnam 885 1,100 900
George Putnam, III 500 300 300
A.J.C. Smith 200(4) 200(4) 200(4)
W. Nicholas Thorndike 128 150 150
- --------------------------------------------------------------------------------
(1) Mr. Jackson has shared investment power and shared voting power with
respect to such shares.
(2) Ms. Kennan is the custodian of a trust which owns 129 of these shares
and in which she has no economic interest.
(3) Ms. Kennan is the custodian of a trust which owns 122 of these shares
and in which she has no economic interest.
(4) Mr. Smith has shared investment power and shared voting power with
respect to such shares.
<PAGE>
As of May 15, 1997, the Trustees and officers of Putnam California
Investment Grade Municipal Trust, Putnam High Yield Municipal Trust and
Putnam Investment Grade Municipal Trust owned a total of 3,189, 4,713 and
3,765 common shares, respectively, of the funds, comprising less than 1% of
the outstanding common shares of such funds on that date. None of the
Trustees owns any preferred shares.
Share Ownership by Trustees
Number of Shares owned as of May 15, 1997 of:
Putnam Investment Putnam Investment Putnam Managed
Grade Municipal Grade Municipal Municipal Income
Trustee Trust II Trust III Trust
- ------------------------------------------------------------------------------
Jameson A. Baxter 1,227 1,457 119
Hans H. Estin 123 111 161
John A. Hill 100 2,500 100
Ronald J. Jackson 200(1) 200(1) 200(1)
Elizabeth T. Kennan 226(2) 213(3) 222(4)
Lawrence J. Lasser 100 100 100
Robert E. Patterson 100 200 300
Donald S. Perkins 889 1,017 1,251
William F. Pounds 335 100 500
George Putnam 899 961 1,100
George Putnam, III 500 500 300
A.J.C. Smith 200(5) 200(5) 200(5)
W. Nicholas Thorndike 130 113 150
- -------------------------------------------------------------------------------
(1) Mr. Jackson has shared investment power and shared voting power with
respect to such shares.
(2) Ms. Kennan is the custodian of a trust which owns 125 of these shares
and in which she has no economic interest.
(3) Ms. Kennan is the custodian of a trust which owns 113 of these shares
and in which she has no economic interest.<PAGE>
(4) Mr. Smith has shared investment power and shared voting power with
respect to such shares.
As of May 15, 1997, the Trustees and officers of Putnam Investment Grade
Municipal Trust II, Putnam Investment Grade Municipal Trust III and Putnam
Managed Municipal Income Trust owned a total of 5,027, 7,672 and 4,702 common
shares, respectively, of the funds, comprising less than 1% of the
outstanding common shares of such funds on that date. None of the Trustees
owns any preferred shares.
Share Ownership by Trustees
Number of Shares owned as of May 15, 1997 of:
Putnam Municipal Putnam New York
Opportunities Investment Grade
Trustee Trust Municipal Trust
- -------------------------------------------------------------------------------
Jameson A. Baxter 120 117
Hans H. Estin 123 120
John A. Hill 100 1,100
Ronald J. Jackson 200(1) 200(1)
Elizabeth T. Kennan 231(2) 223(3)
Lawrence J. Lasser 100 100
Robert E. Patterson 100 100
Donald S. Perkins 601 218
William F. Pounds 500 335
George Putnam 915 866
George Putnam, III 500 500
A.J.C. Smith 200(4) 200(4)
W. Nicholas Thorndike 130 127
- --------------------------------------------------------------------------------
(1) Mr. Jackson has shared investment power and shared voting power with
respect to such shares.
(2) Ms. Kennan is the custodian of a trust which owns 131 of
these shares and in which she has no economic interest.
(3) Ms. Kennan is the custodian of a trust which owns 123 of
these shares and in which she has no economic interest.
(4) Mr. Smith has shared investment power and shared voting
power with respect to such shares.
As of May 15, 1997, the Trustees and officers of Putnam
Municipal Opportunities Trust and Putnam New York Investment
Grade Municipal Trust owned a total of 3,820 and 4,205 common
shares, respectively, of the funds, comprising less than 1% of
the outstanding common shares of such funds on that date. None
of the Trustees owns any preferred shares.
What are some of the ways in which the Trustees represent
shareholder interests?
The Trustees believe that, as substantial investors in the Putnam
funds, their interests are closely aligned with those of
individual shareholders. Among other ways, the Trustees seek to
represent shareholder interests:
by carefully reviewing your fund's investment performance on
an individual basis with your fund's managers;
by also carefully reviewing the quality of the various other
services provided to the funds and their shareholders by
Putnam Management and its affiliates;
by discussing with senior management of Putnam Management
steps being taken to address any performance deficiencies;
by reviewing the fees paid to Putnam Management to ensure
that such fees remain reasonable and competitive with those
of other mutual funds, while at the same time providing
Putnam Management sufficient resources to continue to
provide high quality services in the future;
by monitoring potential conflicts between the funds and
Putnam Management and its affiliates to ensure that the
funds continue to be managed in the best interests of their
shareholders; and
by also monitoring potential conflicts among funds to ensure
that shareholders continue to realize the benefits of
participation in a large and diverse family of funds.
<PAGE>
How often do the Trustees meet?
The Trustees meet each month (except August) over a two-day
period to review the operations of your fund and of the other
Putnam funds. A portion of these meetings is devoted to meetings
of various Committees of the board which focus on particular
matters. These currently include: the Committee of Independent
Trustees, which conducts an annual review of all contractual
arrangements with Putnam Management and its affiliates; the
Contract Committee, which reviews such matters on an interim
basis during the course of the year; the Communication and
Service Committee, which reviews the quality of services provided
by your fund's investor servicing agent, custodian and
distributor; the Pricing, Brokerage and Special Investments
Committee, which reviews matters relating to valuation of
securities, best execution, brokerage costs and allocations and
new investment techniques; the Audit Committee, which reviews
accounting policies and the adequacy of internal controls and
supervises the engagement of the funds' auditors; the
Compensation, Administration and Legal Affairs Committee, which
reviews the compensation of the Trustees and their administrative
staff and supervises the engagement of the funds' independent
counsel; the Nominating Committee, which is responsible for
selecting nominees for election as Trustees, and the Closed-end
Fund Committee, which is responsible for reviewing special issues
applicable to closed-end funds such as your fund.
Each Trustee generally attends at least two formal committee
meetings during each regular meeting of the Trustees. During
1996, the average Trustee participated in approximately 40
committee and board meetings. In addition, the Trustees meet in
small groups with Chief Investment Officers and Portfolio
Managers to review recent performance and the current investment
climate for selected funds. These meetings ensure that each
fund's performance is reviewed in detail at least twice a year.
The Committee of Independent Trustees and the Contract Committee
typically meet on several additional occasions during the year to
carry out their responsibilities. Other Committees, including an
Executive Committee, may also meet on special occasions as the
need arises.
What are the Trustees paid for their services?
Each Trustee receives a fee for his or her services. Each
Trustee also receives fees for serving as Trustee of the other
Putnam funds. The Trustees periodically review their fees to
assure that such fees continue to be appropriate in light of
their responsibilities as well as in relation to fees paid to
trustees of other mutual fund complexes. The Compensation
Committee, which consists solely of Trustees not affiliated with
Putnam Management, estimates that Committee and Trustee meeting
time together with the appropriate preparation requires the
equivalent of at least three business days per Trustee meeting.
The following tables show the fees paid to each Trustee by each
fund for fiscal 1996 and the fees paid to each Trustee by all of
the Putnam funds during calendar year 1996:
Putnam California Investment Grade Municipal Trust
COMPENSATION TABLE
Pension or Estimated Total
Aggregate retirement annual benefits compensation
compensation benefits accrued from all from all
from the as part of Putnam funds Putnam
Trustees fund(1) fund expenses(2) upon retirement(3 funds(4)
Jameson A. Baxter $579 $115 $85,646 $172,291(5)
Hans H. Estin 576 391 85,646 171,291
John A. Hill 574 146 85,646 170,791(5)
Ronald J. Jackson(6) 525 14 85,646 94,807(5)
Elizabeth T. Kennan 575 260 85,646 171,291
Lawrence J. Lasser 574 195 85,646 169,791
Robert E. Patterson 592 117 85,646 182,291
Donald S. Perkins 579 426 85,646 170,291
William F. Pounds(7) 597 396 98,146 197,291
George Putnam 579 449 85,646 171,291
George Putnam, III 579 77 85,646 171,291
A.J.C. Smith 567 262 85,646 169,791
W. Nicholas Thorndike587 373 85,646 181,291
(1) Includes an annual retainer and an attendance fee for each meeting attended.
(2) The Trustees approved a Retirement Plan for Trustees of the Putnam funds
on October 1, 1996. Prior to that date, voluntary retirement benefits were
paid to certain retired Trustees.
(3) Assumes that each Trustee retires at the normal retirement date.
Estimated benefits for each Trustee are based on Trustee fee rates in
effect during calendar 1996.
(4) As of December 31, 1996, there were 96 funds in the Putnam family.
(5) Includes compensation deferred pursuant to a Trustee Compensation
Deferral Plan.
(6) Elected as a Trustee in May 1996.
(7) Includes additional compensation for service as Vice Chairman of the
Putnam funds.
<PAGE>
Putnam High Yield Municipal Trust
COMPENSATION TABLE
Pension or Estimated Total
Aggregate retirement annual benefits compensation
compensation benefits accrued from all from all
from the as part of Putnam funds Putnam
Trustees fund(1) fund expenses(2) upon retirement(3)funds(4)
<TABLE>
<C> <C> <C> <C> <C>
Jameson A. Baxter $823 $152 $85,646 $172,291(5)
Hans H. Estin 820 533 85,646 171,291
John A. Hill 818 199 85,646 170,791(5)
Ronald J. Jackson(6 674 13 85,646 94,807(5)
Elizabeth T. Kennan 820 361 85,646 171,291
Lawrence J. Lasser 818 271 85,646 169,791
Robert E. Patterson 864 160 85,646 182,291
Donald S. Perkins 823 581 85,646 170,291
William F. Pounds(7)874 535 98,146 197,291
George Putnam 823 613 85,646 171,291
George Putnam, III 823 105 85,646 171,291
A.J.C. Smith 810 356 85,646 169,791
W. Nicholas Thorndik860 519 85,646 181,291
</TABLE>
(1) Includes an annual retainer and an attendance fee for each meeting attended.
(2) The Trustees approved a Retirement Plan for Trustees of the Putnam funds on
October 1, 1996. Prior to that date, voluntary retirement benefits were
paid to certain retired Trustees.
(3) Assumes that each Trustee retires at the normal retirement date.
Estimated benefits for each Trustee are based on Trustee fee rates in
effect during calendar 1996.
(4) As of December 31, 1996, there were 96 funds in the Putnam family.
(5) Includes compensation deferred pursuant to a Trustee Compensation
Deferral Plan.
(6) Elected as a Trustee in May 1996.
(7) Includes additional compensation for service as Vice Chairman of the
Putnam funds. <PAGE>
Putnam Investment Grade Municipal Trust
COMPENSATION TABLE
Pension or Estimated Total
Aggregate retirement annual benefits compensation
compensation benefits accrued from all from all
from the as part of Putnam funds Putnam
Trustees fund(1) fund expenses(2) upon retirement(3 funds(4)
Jameson A. Baxter $ 944 $0 $85,646 $172,291(5)
Hans H. Estin 939 0 85,646 171,291
John A. Hill 937 0 85,646 170,791(5)
Ronald J. Jackson(6) 461 0 85,646 94,807(5)
Elizabeth T. Kennan 942 0 85,646 171,291
Lawrence J. Lasser 938 0 85,646 169,791
Robert E. Patterson 990 0 85,646 182,291
Donald S. Perkins 941 0 85,646 170,291
William F. Pounds(7) 1,018 0 98,146 197,291
George Putnam 942 0 85,646 171,291
George Putnam, III 942 0 85,646 171,291
A.J.C. Smith 935 0 85,646 169,791
W. Nicholas Thorndike 986 0 85,646 181,291
(1) Includes an annual retainer and an attendance fee for each meeting attended.
(2) The Trustees approved a Retirement Plan for Trustees of the Putnam funds
on October 1, 1996. Prior to that date, voluntary retirement benefits
were paid to certain retired Trustees.
(3) Assumes that each Trustee retires at the normal retirement date.
Estimated benefits for each Trustee are based on Trustee fee rates in
effect during calendar 1996.
(4) As of December 31, 1996, there were 96 funds in the Putnam family.
(5) Includes compensation deferred pursuant to a Trustee Compensation
Deferral Plan.
(6) Elected as a Trustee in May 1996.
(7) Includes additional compensation for service as Vice Chairman of the
Putnam funds.
<PAGE>
Putnam Investment Grade Municipal Trust II
COMPENSATION TABLE
Pension or Estimated Total
Aggregate retirement annual benefits compensation
compensation benefits accrued from all from all
from the as part of Putnam funds Putnam
Trustees fund(1) fund expenses(2) upon retirement(3) funds(4)
Jameson A. Baxter $796 $162 $85,646 $172,291(5)
Hans H. Estin 792 559 85,646 171,291
John A. Hill 790 209 85,646 170,791(5)
Ronald J. Jackson(6) 718 18 85,646 94,807(5)
Elizabeth T. Kennan 791 375 85,646 171,291
Lawrence J. Lasser 790 281 85,646 169,791
Robert E. Patterson 811 167 85,646 182,291
Donald S. Perkins 796 609 85,646 170,291
William F. Pounds(7) 848 564 98,146 197,291
George Putnam 796 642 85,646 171,291
George Putnam, III 796 110 85,646 171,291
A.J.C. Smith 781 374 85,646 169,791
W. Nicholas Thorndike 805 539 85,646 181,291
(1) Includes an annual retainer and an attendance fee for each meeting attended.
(2) The Trustees approved a Retirement Plan for Trustees of the Putnam funds
on October 1, 1996. Prior to that date, voluntary retirement benefits
were paid to certain retired Trustees.
(3) Assumes that each Trustee retires at the normal retirement date.
Estimated benefits for each Trustee are based on Trustee fee rates in
effect during calendar 1996.
(4) As of December 31, 1996, there were 96 funds in the Putnam family.
(5) Includes compensation deferred pursuant to a Trustee Compensation
Deferral Plan.
(6) Elected as a Trustee in May 1996.
(7) Includes additional compensation for service as Vice Chairman of the
Putnam funds.
<PAGE>
Putnam Investment Grade Municipal Trust III
COMPENSATION TABLE
Pension or Estimated Total
Aggregate retirement annual benefits compensation
compensation benefits accruedfrom all from all
from the as part of Putnam funds Putnam
Trustees fund(1) fund expenses(2)upon retirement(3 funds(4)
Jameson A. Baxter $586 $0 $85,646 $172,291(5)
Hans H. Estin 583 0 85,646 171,291
John A. Hill 581 0 85,646 170,791(5)
Ronald J. Jackson(6)241 0 85,646 94,807(5)
Elizabeth T. Kennan 584 0 85,646 171,291
Lawrence J. Lasser 580 0 85,646 169,791
Robert E. Patterson 616 0 85,646 182,291
Donald S. Perkins 582 0 85,646 170,291
William F. Pounds(7)597 0 98,146 197,291
George Putnam 584 0 85,646 171,291
George Putnam, III 584 0 85,646 171,291
A.J.C. Smith 579 0 85,646 169,791
W. Nicholas Thorndike613 0 85,646 181,291
(1) Includes an annual retainer and an attendance fee for each meeting attended.
(2) The Trustees approved a Retirement Plan for Trustees of the Putnam funds
on October 1, 1996. Prior to that date, voluntary retirement benefits
were paid to certain retired Trustees.
(3) Assumes that each Trustee retires at the normal retirement date.
Estimated benefits for each Trustee are based on Trustee fee rates in
effect during calendar 1996.
(4) As of December 31, 1996, there were 96 funds in the Putnam family.
(5) Includes compensation deferred pursuant to a Trustee Compensation
Deferral Plan.
(6) Elected as a Trustee in May 1996.
(7) Includes additional compensation for service as Vice Chairman of the
Putnam funds.
<PAGE>
Putnam Managed Municipal Income Trust
COMPENSATION TABLE
Pension or Estimated Total
Aggregate retirement annual benefits compensation
compensation benefits accruedfrom all from all
from the as part of Putnam funds Putnam
Trustees fund(1) fund expenses(2)upon retirement(3)funds(4)
Jameson A. Baxter $1,383 $0 $85,646 $172,291(5)
Hans H. Estin 1,377 0 85,646 171,291
John A. Hill(5) 1,374 0 85,646 170,791
Ronald J. Jackson(5)(6)555 0 85,646 94,807
Elizabeth T. Kennan 1,379 0 85,646 171,291
Lawrence J. Lasser 1,372 0 85,646 169,791
Robert E. Patterson 1,443 0 85,646 182,291
Donald S. Perkins 1,374 0 85,646 170,291
William F. Pounds(7) 1,493 0 98,146 197,291
George Putnam 1,379 0 85,646 171,291
George Putnam, III 1,379 0 85,646 171,291
A.J.C. Smith 1,370 0 85,646 169,791
W. Nicholas Thorndike1,437 0 85,646 181,291
(1) Includes an annual retainer and an attendance fee for each meeting attended.
(2) The Trustees approved a Retirement Plan for Trustees of the Putnam funds
on October 1, 1996. Prior to that date, voluntary retirement benefits
were paid to certain retired Trustees.
(3) Assumes that each Trustee retires at the normal retirement date.
Estimated benefits for each Trustee are based on Trustee fee rates in
effect during calendar 1996.
(4) As of December 31, 1996, there were 96 funds in the Putnam family.
(5) Includes compensation deferred pursuant to a Trustee Compensation
Deferral Plan. The total amounts of deferred compensation payable by the
fund to Mr. Hill and Mr. Jackson as
of October 31, 1996 were $2,050 and $562, respectively, including income
earned on such amounts.
(6) Elected as a Trustee in May 1996.
(7) Includes additional compensation for service as Vice Chairman of the
Putnam funds.
<PAGE>
Putnam Municipal Opportunities Trust
COMPENSATION TABLE
Pension or Estimated Total
Aggregate retirement annual benefits compensation
compensation benefits accrued from all from all
from the as part of Putnam funds Putnam
Trustees fund(1) fund expenses(2) upon retirement(3) funds(4)
Jameson A. Baxter $798 $162 $85,646 $172,291(5)
Hans H. Estin 794 559 85,646 171,291
John A. Hill 792 209 85,646 170,791(5)
Ronald J. Jackson(6) 721 18 85,646 94,807(5)
Elizabeth T. Kennan 793 375 85,646 171,291
Lawrence J. Lasser 792 281 85,646 169,791
Robert E. Patterson 814 167 85,646 182,291
Donald S. Perkins 798 609 85,646 170,291
William F. Pounds(7) 853 564 98,146 197,291
George Putnam 798 642 85,646 171,291
George Putnam, III 798 110 85,646 171,291
A.J.C. Smith 783 374 85,646 169,791
W. Nicholas Thorndike808 539 85,646 181,291
(1) Includes an annual retainer and an attendance fee for each meeting attended.
(2) The Trustees approved a Retirement Plan for Trustees of the Putnam funds
on October 1, 1996. Prior to that date, voluntary retirement benefits
were paid to certain retired Trustees.
(3) Assumes that each Trustee retires at the normal retirement date.
Estimated benefits for each Trustee are based on Trustee fee rates in
effect during calendar 1996.
(4) As of December 31, 1996, there were 96 funds in the Putnam family.
(5) Includes compensation deferred pursuant to a Trustee Compensation
Deferral Plan.
(6) Elected as a Trustee in May 1996.
(7) Includes additional compensation for service as Vice Chairman of the
Putnam funds.
<PAGE>
Putnam New York Investment Grade Municipal Trust
COMPENSATION TABLE
Pension or Estimated Total
Aggregate retirement annual benefits compensation
compensation benefits accrued from all from all
from the as part of Putnam funds Putnam
Trustees fund(1) fund expenses(2) upon retirement(3)funds(4)
Jameson A. Baxter $556 $111 $85,646 $172,291(5)
Hans H. Estin 553 376 85,646 171,291
John A. Hill 551 141 85,646 170,791(5)
Ronald J. Jackson(6)505 14 85,646 94,807(5)
Elizabeth T. Kennan 552 250 85,646 171,291
Lawrence J. Lasser 551 187 85,646 169,791
Robert E. Patterson 568 113 85,646 182,291
Donald S. Perkins 556 409 85,646 170,291
William F. Pounds(7)566 381 98,146 197,291
George Putnam 556 432 85,646 171,291
George Putnam, III 556 74 85,646 171,291
A.J.C. Smith 545 251 85,646 169,791
W. Nicholas Thorndike564 359 85,646 181,291
(1) Includes an annual retainer and an attendance fee for each meeting attended.
(2) The Trustees approved a Retirement Plan for Trustees of the Putnam funds
on October 1, 1996. Prior to that date, voluntary retirement benefits
were paid to certain retired Trustees.
(3) Assumes that each Trustee retires at the normal retirement date.
Estimated benefits for each Trustee are based on Trustee fee rates in
effect during calendar 1996.
(4) As of December 31, 1996, there were 96 funds in the Putnam family.
(5) Includes compensation deferred pursuant to a Trustee Compensation
Deferral Plan.
(6) Elected as a Trustee in May 1996.
(7) Includes additional compensation for service as Vice Chairman of the
Putnam funds.
<PAGE>
Under a Retirement Plan for Trustees of the Putnam funds (the "Plan"),
each Trustee who retires with at least five years of service as a
Trustee of the funds is entitled to receive an annual retirement
benefit equal to one-half of the average annual compensation paid to
such Trustee for the last three years of service prior to retirement.
This retirement benefit is payable during a Trustee's lifetime,
beginning the year following retirement, for a number of years equal
to such Trustee's years of service. A death benefit is also available
under the Plan which assures that the Trustee and his or her
beneficiaries will receive benefit payments for the lesser of an
aggregate period of (i) ten years or (ii) such Trustee's total years
of service.
The Plan Administrator (a committee comprised of Trustees that are not
"interested persons" of the fund, as defined in the Investment Company
Act of 1940) may terminate or amend the Plan at any time, but no
termination or amendment will result in a reduction in the amount of
benefits (i) currently being paid to a Trustee at the time of such
termination or amendment, or (ii) to which a current Trustee would
have been entitled to receive had he or she retired immediately prior
to such termination or amendment.
For additional information about your fund, including further
information about its Trustees and officers, please see "Fund
Information," on page 36.
Putnam Investments
Putnam Investment Management, Inc. and its affiliate, Putnam Fiduciary
Trust Company, your fund's investor servicing agent and custodian, are
wholly owned by Putnam Investments, Inc., One Post Office Square,
Boston, Massachusetts 02109, a holding company that is in turn wholly
owned by Marsh & McLennan Companies, Inc., which has executive offices
at 1166 Avenue of the Americas, New York, New York 10036. Marsh &
McLennan Companies, Inc. and its operating subsidiaries are
professional services firms with insurance and reinsurance brokerage,
consulting, and investment management businesses.
2. RATIFICATION OF INDEPENDENT AUDITORS
Coopers & Lybrand L.L.P., One Post Office Square, Boston,
Massachusetts 02109, independent accountants, has been selected by
the Trustees as the independent auditors of Putnam Investment Grade
Municipal Trust II, Putnam Investment Grade Municipal Trust III,
Putnam Managed Municipal Income Trust and Putnam Municipal
Opportunities Trust for their current fiscal years.
Price Waterhouse LLP, 160 Federal Street, Boston, Massachusetts
02110, independent accountants, has been selected by the Trustees as
the independent auditors of Putnam California Investment Grade
Municipal Trust, Putnam High Yield Municipal Trust, Putnam Investment
Grade Municipal Trust and Putnam New York Investment Grade Municipal
Trust for their current fiscal years.
Among the country's preeminent accounting firms, these firms together
also serve as the auditors for all of the other funds in the Putnam
family. Each was selected primarily on the basis of its expertise as
auditors of investment companies, the quality of its audit services,
and the competitiveness of the fees charged for these services.
A majority of the votes on the matter is necessary to ratify the
selection of auditors. A representative of each of the independent
auditors is expected to be present at the meeting to make statements
and to respond to appropriate questions.
Further Information About Voting and the Meeting
Quorum and Methods of Tabulation. The shareholders of each fund vote
separately on the proposals presented for their fund. In the case of
each fund, a majority of the shares entitled to vote -- present in
person or represented by proxy -- constitutes a quorum for the
transaction of business with respect to any proposal at the meeting
(unless otherwise noted in the proxy statement), except that where the
preferred shares or common shares shall vote as a separate class, then
a majority of the aggregate number of shares of that class shall be
necessary to constitute a quorum for the transaction of business by
that class. Shares represented by proxies that reflect abstentions
and "broker non-votes" (i.e., shares held by brokers or nominees as to
which (i) instructions have not been received from the beneficial
owners or the persons entitled to vote and (ii) the broker or nominee
does not have the discretionary voting power on a particular matter)
will be counted as shares that are present and entitled to vote on the
matter for purposes of determining the presence of a quorum. Votes
cast by proxy or in person at the meeting will be counted by persons
appointed by your fund as tellers for the meeting.
The tellers will count the total number of votes cast "for" approval
of the proposals for purposes of determining whether sufficient
affirmative votes have been cast. With respect to the election of
Trustees and selection of auditors, neither abstentions nor broker
non-votes have any effect on the outcome of the proposal. With
respect to any other proposals, abstentions and broker non-votes have
the effect of a negative vote on the proposal.
Other business. The Trustees know of no other business to be brought
before the meeting. However, if any other matters properly come
before the meeting, it is their intention that proxies that do not
contain specific restrictions to the contrary will be voted on such
matters in accordance with the judgment of the persons named as
proxies in the enclosed form of proxy.
Simultaneous meetings. The meeting of shareholders of your fund is
called to be held at the same time as the meetings of shareholders of
certain of the other Putnam funds. It is anticipated that all
meetings will be held simultaneously. If any shareholder at the
meeting objects to the holding of a simultaneous meeting and moves for
an adjournment of the meeting to a time promptly after the
simultaneous meetings, the persons named as proxies will vote in favor
of such adjournment.
Solicitation of proxies. In addition to soliciting proxies by mail,
Trustees of your fund and employees of Putnam Management, Putnam
Fiduciary Trust Company, and Putnam Mutual Funds may solicit proxies
in person or by telephone. Your fund may also arrange to have votes
recorded by telephone. The telephone voting procedure is designed to
authenticate shareholders' identities, to allow shareholders to
authorize the voting of their shares in accordance with their
instructions and to confirm that their instructions have been properly
recorded. Your fund has been advised by counsel that these procedures
are consistent with the requirements of applicable law. If these
procedures were subject to a successful legal challenge, such votes
would not be counted at the meeting. Your fund is unaware of any such
challenge at this time. Shareholders would be called at the phone
number Putnam Investments has in its records for their accounts, and
would be asked for their Social Security number or other identifying
information. The shareholders would then be given an opportunity to
authorize proxies to vote their shares at the meeting in accordance
with their instructions. To ensure that the shareholders'
instructions have been recorded correctly, they will also receive a
confirmation of their instructions in the mail. A special toll-free
number will be available in case the information contained in the
confirmation is incorrect.
Your fund's Trustees have adopted a general policy of maintaining
confidentiality in the voting of proxies. Consistent with this
policy, your fund may solicit proxies from shareholders who have not
voted their shares or who have abstained from voting.
Persons holding shares as nominees will upon request be reimbursed for
their reasonable expenses in soliciting instructions from their
principals. Each fund has retained at its expense Automatic Data
Processing, 51 Mercedes Way, Edgewood, New York 11717, to aid in the
solicitation of instructions for registered and nominee accounts, for
a fee not to exceed $1,000 per fund plus reasonable out-of-pocket
expenses for mailing and phone costs.
Revocation of proxies. Proxies, including proxies given by telephone,
may be revoked at any time before they are voted by a written
revocation received by the Clerk of your fund, by properly executing a
later-dated proxy or by attending the meeting and voting in person.
Date for receipt of shareholders' proposals for the next annual
meeting. It is anticipated that each fund's next annual meeting of
shareholders will be held in October 1998. Shareholder proposals must
be received by your fund before March 20, 1998, to be included in your
fund's proxy statement for the next annual meeting.
Adjournment. If sufficient votes in favor of any of the proposals set
forth in the Notice of the Meeting are not received by the time
scheduled for the meeting, the persons named as proxies may propose
adjournments of the meeting for a period or periods of not more than
60 days in the aggregate to permit further solicitation of proxies
with respect to those proposals. Any adjournment will require the
affirmative vote of a majority of the votes cast on the question in
person or by proxy at the session of the meeting to be adjourned. The
persons named as proxies will vote in favor of adjournment those
proxies which they are entitled to vote in favor of such proposals.
They will vote against adjournment those proxies required to be voted
against such proposals. Your fund pays the costs of any additional
solicitation and of any adjourned session. Any proposals for which
sufficient favorable votes have been received by the time of the
meeting may be acted upon and considered final regardless of whether
the meeting is adjourned to permit additional solicitation with
respect to any other proposal.
Financial information. Your fund will furnish to you upon request,
without charge, a copy of the fund's annual report for its most recent
fiscal year, and a copy of its semiannual report for any subsequent
semiannual period. Such requests may be directed to Putnam Investor
Services, P.O. Box 41203, Providence, RI 02940-1203 or 1-800-225-
1581.
Fund Information
Limitation of Trustee liability. The Agreement and Declaration of
Trust of each fund provides that the fund will indemnify its Trustees
and officers against liabilities and expenses incurred in connection
with litigation in which they may be involved because of their offices
with the fund, except if it is determined in the manner specified in
the Agreement and Declaration of Trust that they have not acted in
good faith in the reasonable belief that their actions were in the
best interests of the fund or that such indemnification would relieve
any officer or Trustee of any liability to the fund or its
shareholders arising by reason of willful misfeasance, bad faith,
gross negligence or reckless disregard of his or her duties. Your
fund, at its expense, provides liability insurance for the benefit of
its Trustees and officers.
Audit and Nominating Committees. The voting members of the Audit
Committee of your fund include only Trustees who are not "interested
persons" of the fund by reason of any affiliation with Putnam
Investments and its affiliates. The Audit Committee currently
consists of Messrs. Estin (Chairman), Jackson, Perkins (without vote),
Putnam, III (without vote), Smith (without vote), and Ms. Kennan. The
Nominating Committee consists only of Trustees who are not "interested
persons" of your fund or Putnam Management. The Nominating Committee
currently consists of Dr. Pounds and Ms. Kennan (Co-chairpersons), Ms.
Baxter, and Messrs. Estin, Hill, Jackson, Patterson, and Thorndike.
Officers and other information. In addition to George Putnam and
Lawrence J. Lasser, the officers of each fund are as follows:
<PAGE>
Putnam California Investment Grade Municipal Trust
Year first
elected to
Name (age) Office office
- -----------------------------------------------------------------
Charles E. Porter (58) Executive Vice President 1992
Patricia C. Flaherty (50) Senior Vice President 1993
John D. Hughes (62) Senior Vice President
& Treasurer 1992
Gordon H. Silver (50) Vice President 1992
Gary N. Coburn (51) Vice President 1993
William J. Curtin (37) Vice President 1996
Jerome J. Jacobs (38) Vice President 1996
William H. Reeves* (53) Vice President 1995
William N. Shiebler** (55) Vice President 1992
John R. Verani (58) Vice President 1992
Paul M. O'Neil (44) Vice President 1992
Beverly Marcus (53) Clerk 1992
- -----------------------------------------------------------------
* Portfolio manager
** President of Putnam Mutual Funds
Putnam High Yield Municipal Trust
Year first
elected to
Name (age) Office office
- -----------------------------------------------------------------
Charles E. Porter (58) Executive Vice President 1989
Patricia C. Flaherty (50) Senior Vice President 1993
John D. Hughes (62) Senior Vice President
& Treasurer 1989
Gordon H. Silver (50) Vice President 1990
Gary N. Coburn (51) Vice President 1989
William J. Curtin (37) Vice President 1996
Blake E. Anderson* (40) Vice President 1996
Jerome J. Jacobs (38) Vice President 1996
William N. Shiebler** (55) Vice President 1991
John R. Verani (58) Vice President 1989
Paul M. O'Neil (44) Vice President 1992
Beverly Marcus (53) Clerk 1989
- -----------------------------------------------------------------
* Portfolio manager
** President of Putnam Mutual Funds
<PAGE>
Putnam Investment Grade Municipal Trust
Year first
elected to
Name (age) Office office
- -----------------------------------------------------------------
Charles E. Porter (58) Executive Vice President 1989
Patricia C. Flaherty (50) Senior Vice President 1993
John D. Hughes (62) Senior Vice President
& Treasurer 1989
Gordon H. Silver (50) Vice President 1990
Gary N. Coburn (51) Vice President 1989
William J. Curtin (37) Vice President 1996
Richard P. Wyke* (41) Vice President 1996
Jerome J. Jacobs (38) Vice President 1996
William N. Shiebler** (55) Vice President 1991
John R. Verani (58) Vice President 1989
Paul M. O'Neil (44) Vice President 1992
Beverly Marcus (53) Clerk 1989
- -----------------------------------------------------------------
* Portfolio manager
** President of Putnam Mutual Funds
Putnam Investment Grade Municipal Trust II
Year first
elected to
Name (age) Office office
- -----------------------------------------------------------------
Charles E. Porter (58) Executive Vice President 1992
Patricia C. Flaherty (50) Senior Vice President 1993
John D. Hughes (62) Senior Vice President
& Treasurer 1992
Gordon H. Silver (50) Vice President 1992
Gary N. Coburn (51) Vice President 1992
William J. Curtin (37) Vice President 1996
Richard P. Wyke* (41) Vice President 1996
Jerome J. Jacobs (38) Vice President 1996
William N. Shiebler** (55) Vice President 1992
John R. Verani (58) Vice President 1992
Paul M. O'Neil (44) Vice President 1992
Beverly Marcus (53) Clerk 1992
- -----------------------------------------------------------------
* Portfolio manager
** President of Putnam Mutual Funds
<PAGE>
Putnam Investment Grade Municipal Trust III
Year first
elected to
Name (age) Office office
- -----------------------------------------------------------------
Charles E. Porter (58) Executive Vice President 1993
Patricia C. Flaherty (50) Senior Vice President 1993
John D. Hughes (62) Senior Vice President
& Treasurer 1993
Gordon H. Silver (50) Vice President 1993
Gary N. Coburn (51) Vice President 1993
William J. Curtin (37) Vice President 1996
Richard P. Wyke* (41) Vice President 1996
Jerome J. Jacobs (38) Vice President 1996
William N. Shiebler** (55) Vice President 1993
John R. Verani (58) Vice President 1993
Paul M. O'Neil (44) Vice President 1993
Beverly Marcus (53) Clerk 1993
- -----------------------------------------------------------------
* Portfolio manager
** President of Putnam Mutual Funds
Putnam Managed Municipal Income Trust
Year first
elected to
Name (age) Office office
- -----------------------------------------------------------------
Charles E. Porter (58) Executive Vice President 1989
Patricia C. Flaherty (50) Senior Vice President 1993
John D. Hughes (62) Senior Vice President
& Treasurer 1989
Gordon H. Silver (50) Vice President 1989
Gary N. Coburn (51) Vice President 1990
William J. Curtin (37) Vice President 1996
Richard P. Wyke* (41) Vice President 1996
Jerome J. Jacobs (38) Vice President 1996
William N. Shiebler** (55) Vice President 1991
John R. Verani (58) Vice President 1989
Paul M. O'Neil (44) Vice President 1992
Beverly Marcus (53) Clerk 1989
- -----------------------------------------------------------------
* Portfolio manager
** President of Putnam Mutual Funds
<PAGE>
Putnam Municipal Opportunities Trust
Year first
elected to
Name (age) Office office
- -----------------------------------------------------------------
Charles E. Porter (58) Executive Vice President 1993
Patricia C. Flaherty (50) Senior Vice President 1993
John D. Hughes (62) Senior Vice President
& Treasurer 1993
Gordon H. Silver (50) Vice President 1993
Gary N. Coburn (51) Vice President 1993
William J. Curtin (37) Vice President 1996
Blake E. Anderson* (40) Vice President 1996
Jerome J. Jacobs (38) Vice President 1996
William N. Shiebler** (55) Vice President 1993
John R. Verani (58) Vice President 1993
Paul M. O'Neil (44) Vice President 1993
Beverly Marcus (53) Clerk 1993
- -----------------------------------------------------------------
* Portfolio manager
** President of Putnam Mutual Funds
Putnam New York Investment Grade Municipal Trust
Year first
elected to
Name (age) Office office
- -----------------------------------------------------------------
Charles E. Porter (58) Executive Vice President 1992
Patricia C. Flaherty (50) Senior Vice President 1993
John D. Hughes (62) Senior Vice President
& Treasurer 1992
Gordon H. Silver (50) Vice President 1992
Gary N. Coburn (51) Vice President 1993
William J. Curtin (37) Vice President 1996
Howard K. Manning* (44) Vice President 1996
Jerome J. Jacobs (38) Vice President 1996
William N. Shiebler** (55) Vice President 1992
John R. Verani (58) Vice President 1992
Paul M. O'Neil (44) Vice President 1992
Beverly Marcus (53) Clerk 1992
- -----------------------------------------------------------------
* Portfolio manager
** President of Putnam Mutual Funds
All of the officers of your fund are employees of Putnam Management or
its affiliates. Because of their positions with Putnam Management or
its affiliates or their ownership of stock of Marsh & McLennan
Companies, Inc., Messrs. Putnam, Putnam, III, Lasser and Smith
(nominees for Trustees of your fund), as well as the officers of your
fund, will benefit from the management fees, custodian fees, and
investor servicing fees paid or allowed by the fund.
Assets and shares outstanding of each fund
as of July 3, 1997
Net assets:
Putnam California Investment Grade
Municipal Trust $70,026,865
Putnam High Yield Municipal Trust $200,729,062
Putnam Investment Grade Municipal Trust $244,638,353
Putnam Investment Grade Municipal Trust II $187,454,963
Putnam Investment Grade Municipal Trust III $52,878,176
Putnam Managed Municipal Income Trust $452,290,738
Putnam Municipal Opportunities Trust $224,557,432
Putnam New York Investment Grade
Municipal Trust $39,472,723
Common shares outstanding and authorized to vote:
Putnam California Investment Grade
Municipal Trust 4,607,092 shares
Putnam High Yield Municipal Trust 21,732,465 shares
Putnam Investment Grade Municipal Trust 20,570,043 shares
Putnam Investment Grade Municipal
Trust II 13,357,092 shares
Putnam Investment Grade Municipal
Trust III 4,007,092 shares
Putnam Managed Municipal Income Trust 45,723,956 shares
Putnam Municipal Opportunities Trust 16,157,092 shares
Putnam New York Investment Grade
Municipal Trust 2,847,092 shares
Preferred shares outstanding and authorized to vote:
Putnam California Investment Grade
Municipal Trust 320 shares
Putnam High Yield Municipal Trust 900 shares
Putnam Investment Grade Municipal Trust 1,400 shares
Putnam Investment Grade Municipal Trust II 1,260 shares
Putnam Investment Grade Municipal Trust III 200 shares
Putnam Managed Municipal Income Trust 1,750 shares
Putnam Municipal Opportunities Trust 800 shares
Putnam New York Investment Grade Municipal Trust200 shares
Persons beneficially owning more than 5% of common shares as of May
31, 1997
Putnam California Investment Grade Municipal Trust None
Putnam High Yield Municipal Trust None
Putnam Investment Grade Municipal Trust None
Putnam Investment Grade Municipal Trust II None
Putnam Investment Grade Municipal Trust III None
Putnam Managed Municipal Income Trust None
Putnam Municipal Opportunities Trust None
Putnam New York Investment Grade Municipal Trust None
<PAGE>
Persons beneficially owning more than 5% of preferred shares as of May
31, 1997
Putnam California Investment Grade Municipal Trust None
Putnam High Yield Municipal Trust None
Putnam Investment Grade Municipal Trust None
Putnam Investment Grade Municipal Trust II None
Putnam Investment Grade Municipal Trust III None
Putnam Managed Municipal Income Trust None
Putnam Municipal Opportunities Trust None
Putnam New York Investment Grade Municipal Trust None
PUTNAMINVESTMENTS
The Putnam Funds
One Post Office Square
Boston, Massachusetts 02109
Toll-free 1-800-225-1581 <PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam California Investment Grade Municipal Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam California Investment Grade Municipal Trust (Common Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam California Investment Grade Municipal Trust on October 9, 1997,
at 2:00 p.m., Boston time, and at any adjournments thereof, all of the
shares of the fund that the undersigned shareholder would be entitled
to vote if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam California Investment Grade Municipal Trust
(Common Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees:
The nominees for Trustees are: J.A. Baxter, H.H. Estin, R.J.
Jackson, E.T. Kennan, L.J. Lasser, D.S. Perkins, W.F. Pounds,
G. Putnam, G. Putnam, III, A.J.C. Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Price Waterhouse LLP
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam California Investment Grade Municipal Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam California Investment Grade Municipal Trust (Preferred Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam California Investment Grade Municipal Trust on October 9, 1997,
at 2:00 p.m., Boston time, and at any adjournments thereof, all of the
shares of the fund that the undersigned shareholder would be entitled
to vote if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam California Investment Grade Municipal Trust
(Preferred Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees
The nominees for Trustees are: J.A. Baxter, H.H. Estin, J.A.
Hill, R.J. Jackson, E.T. Kennan, L.J. Lasser, R.E. Patterson,
D.S. Perkins, W.F. Pounds, G. Putnam, G. Putnam, III, A.J.C.
Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Price Waterhouse LLP
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam High Yield Municipal Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam High Yield Municipal Trust (Common Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam High Yield Municipal Trust on October 9, 1997, at 2:00 p.m.,
Boston time, and at any adjournments thereof, all of the shares of the
fund that the undersigned shareholder would be entitled to vote if
personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam High Yield Municipal Trust
(Common Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees:
The nominees for Trustees are: J.A. Baxter, H.H. Estin, R.J.
Jackson, E.T. Kennan, L.J. Lasser, D.S. Perkins, W.F. Pounds,
G. Putnam, G. Putnam, III, A.J.C. Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Price Waterhouse LLP
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam High Yield Municipal Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam High Yield Municipal Trust (Preferred Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam High Yield Municipal Trust on October 9, 1997, at 2:00 p.m.,
Boston time, and at any adjournments thereof, all of the shares of the
fund that the undersigned shareholder would be entitled to vote if
personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam High Yield Municipal Trust
(Preferred Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees
The nominees for Trustees are: J.A. Baxter, H.H. Estin, J.A.
Hill, R.J. Jackson, E.T. Kennan, L.J. Lasser, R.E. Patterson,
D.S. Perkins, W.F. Pounds, G. Putnam, G. Putnam, III, A.J.C.
Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Price Waterhouse LLP
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Investment Grade Municipal Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Investment Grade Municipal Trust (Common Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam Investment Grade Municipal Trust on October 9, 1997, at 2:00
p.m., Boston time, and at any adjournments thereof, all of the shares
of the fund that the undersigned shareholder would be entitled to vote
if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Investment Grade Municipal Trust
(Common Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees:
The nominees for Trustees are: J.A. Baxter, H.H. Estin, R.J.
Jackson, E.T. Kennan, L.J. Lasser, D.S. Perkins, W.F. Pounds,
G. Putnam, G. Putnam, III, A.J.C. Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Price Waterhouse LLP
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Investment Grade Municipal Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Investment Grade Municipal Trust (Preferred Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam Investment Grade Municipal Trust on October 9, 1997, at 2:00
p.m., Boston time, and at any adjournments thereof, all of the shares
of the fund that the undersigned shareholder would be entitled to vote
if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Investment Grade Municipal Trust
(Preferred Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees
The nominees for Trustees are: J.A. Baxter, H.H. Estin, J.A.
Hill, R.J. Jackson, E.T. Kennan, L.J. Lasser, R.E. Patterson,
D.S. Perkins, W.F. Pounds, G. Putnam, G. Putnam, III, A.J.C.
Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Price Waterhouse LLP
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Investment Grade Municipal Trust II
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Investment Grade Municipal Trust II (Common Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam Investment Grade Municipal Trust II on October 9, 1997, at 2:00
p.m., Boston time, and at any adjournments thereof, all of the shares
of the fund that the undersigned shareholder would be entitled to vote
if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Investment Grade Municipal Trust II
(Common Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees:
The nominees for Trustees are: J.A. Baxter, H.H. Estin, R.J.
Jackson, E.T. Kennan, L.J. Lasser, D.S. Perkins, W.F. Pounds,
G. Putnam, G. Putnam, III, A.J.C. Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Coopers & Lybrand L.L.P.
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Investment Grade Municipal Trust II
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Investment Grade Municipal Trust II (Preferred Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam Investment Grade Municipal Trust II on October 9, 1997, at 2:00
p.m., Boston time, and at any adjournments thereof, all of the shares
of the fund that the undersigned shareholder would be entitled to vote
if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Investment Grade Municipal Trust II
(Preferred Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees
The nominees for Trustees are: J.A. Baxter, H.H. Estin, J.A.
Hill, R.J. Jackson, E.T. Kennan, L.J. Lasser, R.E. Patterson,
D.S. Perkins, W.F. Pounds, G. Putnam, G. Putnam, III, A.J.C.
Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Coopers & Lybrand L.L.P.
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Investment Grade Municipal Trust III
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Investment Grade Municipal Trust III (Common Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam Investment Grade Municipal Trust III on October 9, 1997, at
2:00 p.m., Boston time, and at any adjournments thereof, all of the
shares of the fund that the undersigned shareholder would be entitled
to vote if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Investment Grade Municipal Trust III
(Common Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees:
The nominees for Trustees are: J.A. Baxter, H.H. Estin, R.J.
Jackson, E.T. Kennan, L.J. Lasser, D.S. Perkins, W.F. Pounds,
G. Putnam, G. Putnam, III, A.J.C. Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Coopers & Lybrand L.L.P.
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Investment Grade Municipal Trust III
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Investment Grade Municipal Trust III (Preferred Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam Investment Grade Municipal Trust III on October 9, 1997, at
2:00 p.m., Boston time, and at any adjournments thereof, all of the
shares of the fund that the undersigned shareholder would be entitled
to vote if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Investment Grade Municipal Trust III
(Preferred Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees
The nominees for Trustees are: J.A. Baxter, H.H. Estin, J.A.
Hill, R.J. Jackson, E.T. Kennan, L.J. Lasser, R.E. Patterson,
D.S. Perkins, W.F. Pounds, G. Putnam, G. Putnam, III, A.J.C.
Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Coopers & Lybrand L.L.P.
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Managed Municipal Income Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Managed Municipal Income Trust (Common Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam Managed Municipal Income Trust on October 9, 1997, at 2:00
p.m., Boston time, and at any adjournments thereof, all of the shares
of the fund that the undersigned shareholder would be entitled to vote
if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Managed Municipal Income Trust
(Common Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees:
The nominees for Trustees are: J.A. Baxter, H.H. Estin, R.J.
Jackson, E.T. Kennan, L.J. Lasser, D.S. Perkins, W.F. Pounds,
G. Putnam, G. Putnam, III, A.J.C. Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Coopers & Lybrand L.L.P.
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Managed Municipal Income Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Managed Municipal Income Trust (Preferred Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam8Managed Municipal Income Trust on October 9, 1997, at 2:00
p.m., Boston time, and at any adjournments thereof, all of the shares
of the fund that the undersigned shareholder would be entitled to vote
if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Managed Municipal Income Trust
(Preferred Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees
The nominees for Trustees are: J.A. Baxter, H.H. Estin, J.A.
Hill, R.J. Jackson, E.T. Kennan, L.J. Lasser, R.E. Patterson,
D.S. Perkins, W.F. Pounds, G. Putnam, G. Putnam, III, A.J.C.
Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Coopers & Lybrand L.L.P.
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Municipal Opportunities Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Municipal Opportunities Trust (Common Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam Municipal Opportunities Trust on October 9, 1997, at 2:00 p.m.,
Boston time, and at any adjournments thereof, all of the shares of the
fund that the undersigned shareholder would be entitled to vote if
personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Municipal Opportunities Trust
(Common Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees:
The nominees for Trustees are: J.A. Baxter, H.H. Estin, R.J.
Jackson, E.T. Kennan, L.J. Lasser, D.S. Perkins, W.F. Pounds,
G. Putnam, G. Putnam, III, A.J.C. Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Coopers & Lybrand L.L.P.
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam Municipal Opportunities Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam Municipal Opportunities Trust (Preferred Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam Municipal Opportunities Trust on October 9, 1997, at 2:00 p.m.,
Boston time, and at any adjournments thereof, all of the shares of the
fund that the undersigned shareholder would be entitled to vote if
personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam Municipal Opportunities Trust
(Preferred Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees
The nominees for Trustees are: J.A. Baxter, H.H. Estin, J.A.
Hill, R.J. Jackson, E.T. Kennan, L.J. Lasser, R.E. Patterson,
D.S. Perkins, W.F. Pounds, G. Putnam, G. Putnam, III, A.J.C.
Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Coopers & Lybrand L.L.P.
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam New York Investment Grade Municipal Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam New York Investment Grade Municipal Trust (Common Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam New York Investment Grade Municipal Trust on October 9, 1997,
at 2:00 p.m., Boston time, and at any adjournments thereof, all of the
shares of the fund that the undersigned shareholder would be entitled
to vote if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam New York Investment Grade Municipal Trust
(Common Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees:
The nominees for Trustees are: J.A. Baxter, H.H. Estin, R.J.
Jackson, E.T. Kennan, L.J. Lasser, D.S. Perkins, W.F. Pounds,
G. Putnam, G. Putnam, III, A.J.C. Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Price Waterhouse LLP
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
<PAGE>
PUTNAMINVESTMENTS
This is your PROXY CARD.
Please vote this proxy, sign it below, and return it promptly in the
envelope provided. Your vote is important.
Putnam New York Investment Grade Municipal Trust
Proxy for a meeting of shareholders to be held on October 9, 1997 for
Putnam New York Investment Grade Municipal Trust (Preferred Shares).
This proxy is solicited on behalf of the Trustees of the fund.
The undersigned shareholder hereby appoints George Putnam, Hans H.
Estin, and Robert E. Patterson, and each of them separately, Proxies,
with power of substitution, and hereby authorizes them to represent
and to vote, as designated below, at the meeting of shareholders of
Putnam New York Investment Grade Municipal Trust on October 9, 1997,
at 2:00 p.m., Boston time, and at any adjournments thereof, all of the
shares of the fund that the undersigned shareholder would be entitled
to vote if personally present.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: X
THIS PROXY CARD IS VALID ONLY WHEN SIGNED.
Putnam New York Investment Grade Municipal Trust
(Preferred Shares)
For address changes and/or comments, please mark this box and
write them on the back where indicated.
If you complete and sign the proxy, we'll vote it exactly as you tell
us. If you simply sign the proxy, it will be voted FOR fixing the
number of Trustees and electing Trustees as set forth in Proposal 1
and FOR Proposal 2. In their discretion, the Proxies will also be
authorized to vote upon such other matters that may properly come
before the meeting.
THE TRUSTEES RECOMMEND A VOTE FOR FIXING THE NUMBER OF TRUSTEES AND
ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND FOR PROPOSAL 2.
1. Proposal to elect Trustees
The nominees for Trustees are: J.A. Baxter, H.H. Estin, J.A.
Hill, R.J. Jackson, E.T. Kennan, L.J. Lasser, R.E. Patterson,
D.S. Perkins, W.F. Pounds, G. Putnam, G. Putnam, III, A.J.C.
Smith and W.N. Thorndike.
/ / FOR fixing the number of Trustees and electing all the nominees
/ / WITHHOLD authority to vote for all nominees
/ / FOR All Except
To withhold authority to vote for one or more of the nominees,
mark "For All Except" and write those nominees' names on the
line below.
----------------------------------------------------------
2. Proposal to ratify FOR AGAINST ABSTAIN
the selection of / / / / / /
Price Waterhouse LLP
as the independent
auditors of your fund.
Note: If you have questions on any of the Proposals, please call
1-800-225-1581.
Please sign your name exactly as it appears on this card. If you are
a joint owner, each owner should sign. When signing as executor,
administrator, attorney, trustee, or guardian, or as custodian for a
minor, please give your full title as such. If you are signing for a
corporation, please sign the full corporate name and indicate the
signer's office. If you are a partner, sign in the partnership name.
- -----------------------------------------------------------------
Shareholder Signature (PLEASE SIGN IN BOX) Date
- -----------------------------------------------------------------
Co-owner Signature (PLEASE SIGN IN BOX) Date
<PAGE>
HAS YOUR ADDRESS CHANGED?
Please use this form to notify us of any change in address or
telephone number or to provide us with your comments. Detach this
form from the proxy ballot and return it with your signed proxy in the
enclosed envelope.
Street
- -----------------------------------------------------------------
City State Zip
- -----------------------------------------------------------------
Telephone
- -----------------------------------------------------------------
DO YOU HAVE ANY COMMENTS?
- -----------------------------------------------------------------
- -----------------------------------------------------------------
DEAR SHAREHOLDER:
Your vote is important. Please help us to eliminate the expense of
follow-up mailings by signing and returning this proxy as soon as
possible. A postage-paid envelope is enclosed for your convenience.
THANK YOU!
