September 29, 2000
Mr. Steven D. Krichmar
PricewaterhouseCoopers, LLP
160 Federal Street
Boston, MA 02110
Dear Mr. Krichmar:
On July 20, 2000, the Audit Committee of the Putnam Funds
listed on the attached Exhibit voted to recommend to the
Trustees not to retain PricewaterhouseCoopers LLP as the
independent accountants for such funds. The Trustees were to
consider this recommendation at their July meeting.
In accordance with the requirements of item 304 of Regulation
S-K please provide us with a letter from your firm addressed
to the Securities and Exchange Commission stating your
agreement with the following:
1. On July 20, 2000, the Audit Committee of the Putnam funds
specified on Exhibit 1 voted not to retain
PricewaterhouseCoopers LLP as the funds' independent
accountants. The Trustees were to consider this
recommendation at their July meeting.
2. PricewaterhouseCoopers LLP's reports on the funds'
financial statements for fiscal years ended in 1998 and 1999
did not contain an adverse opinion or a disclaimer of opinion,
not were such reports qualified or modified as to uncertainty,
audit scope or accounting principles.
3. During the funds' fiscal years ended in 1998 and 1999,
and through the date hereof, (I) there were no disagreements
with PricewaterhouseCoopers LLP on any matter of accounting
principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreements
Mr. Steven D. Krichmar
September 29, 2000
Page 2
if not resolved to the satisfaction of
PricewaterhouseCoopers LLP, would have caused it to
make reference to the subject matter of the
disagreement in its report on the financial statements
for such years and (ii) there were no "reportable
events" as defined in paragraph (a)(1)(v) of item 304
of Regulation S-K.
A copy of your letter will be filed with the Securities and
Exchange Commission along with this letter as an exhibit to
each fund's next Form N-SAR (in accordance with Sub-item 77k
of Form N-SAR).
Sincerely,
/S/ John D. Hughes
Treasurer of The Putnam Funds
Exhibit 1
Trust/Fund 1933 Act 1940 Act
SEC File No: SEC File No:
Putnam Convertible Opportunities and Income Trust 33-
57901 811-07253
Putnam Global Equity Fund 33-53135 811-7105
Putnam Small Cap Value Fund 33-56339 811-7237
Putnam High Yield Municipal Trust 33-27889
811-5795
Putnam Municipal Income Fund 33-26921 811-5763
Putnam Strategic Income Fund 33-55791 811-7221
Putnam Tax Free Health Care Fund 33-47739
811-6659
Putnam Managed High Yield Trust 33-61388 811-7658
Putnam Arizona Tax Exempt Income Fund 33-37992
811-6258
Putnam Florida Tax Exempt Income Fund 33-35677
811-6129
Putnam Vista Fund 2-27664 811-1561
Putnam Emerging Markets Fund 33-56339 811-7237
Putnam Global Natural Resources Fund 2-67827
811-3061
Putnam High Yield Trust 2-60492 811-2796
Putnam International Fund 33-56339 811-7237
Putnam U.S. Government Income Trust 2-87634
811-3897
Putnam Master Intermediate Income Trust 33-20610
811-5498
Putnam Diversified Income Trust 33-23623 811-5635
Putnam New York Tax Exempt Income Trust 2-83909
811-3741
Putnam New York Tax Exempt Money Market Fund 33-17344
811-5335
Putnam New York Tax Exempt Opportunities Fund 33-37001
811-6176
