WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Investment Grade Municipal Trust III
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME>
<S> <C>
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<FISCAL-YEAR-END> OCT-31-1999
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</TABLE>
