PUTNAM MANAGED MUNICIPAL INCOME TRUST
DEFA14A, 1998-07-17
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                         SCHEDULE 14A INFORMATION

                 PROXY STATEMENT PURSUANT TO SECTION 14(a)
                  OF THE SECURITIES EXCHANGE ACT OF 1934                   
                             (Amendment No. )
                                                                       ----
                          Filed by the Registrant                     / X /
                                                                      ---- 
                                                                       ----
                Filed by a party other than the Registrant            /   /
                                                                      ---- 
Check the appropriate box:
 ----                                                                      
/   /    Preliminary Proxy Statement                                       
- ----
 ----
/   /    Confidential, for Use of the Commission Only (as
- ----          permitted by Rule 14a-6(e) (2))

 ----
/   /    Definitive Proxy Statement                                        
- ----                                                                       
 ----                                                                      
/ X /    Definitive Additional Materials                                   
- ----
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/   /    Soliciting Material Pursuant to Sec. 240.14a-11(c) or
- ----     Sec. 240.14a-12

                     PUTNAM HIGH YIELD MUNICIPAL TRUST
                  PUTNAM INVESTMENT GRADE MUNICIPAL TRUST
                   PUTNAM MANAGED MUNICIPAL INCOME TRUST
                   PUTNAM MUNICIPAL OPPORTUNITIES TRUST
                (Name of Person(s) Filing Proxy Statement, 
                         if other than Registrant)

Payment of Filing Fee (Check the appropriate box):

 ----
/ X /    No fee required
- ----
 ----
/   /    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:

 ----
/   /    Fee paid previously with preliminary materials.
- ----

 ----
/   /    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>
                                  George Putnam
                                  Chairman of the Trustees
                                  The Putnam Funds
                                  One Post Office Square
                                  Boston, Massachusetts  02109


PUTNAM LOGO

(Date)

Dear Shareholder:

You recently received a proxy statement requesting your vote on
important proposals.  Our records show that we have not received
your completed ballot.  Your vote is important.  Please cast your
ballot.  We have included another copy of the proxy ballot and a
business reply envelope for your convenience.

Putnam Management and the Trustees believe that these proposals
would be in the best interests of shareholders.

In closing, we ask you to consider the proposals carefully. 
Should you have any questions, please consult your financial
advisor or contact a Putnam customer service representative at 1-
800-225-1581.

Sincerely,

/s/George Putnam
George Putnam





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