Vote-By-Phone Solicitation Script for
Putnam Asset Allocation Funds
Balanced Portfolio
Conservative Portfolio
Growth Portfolio
This script provides information to the shareholder and
solicits their vote by phone, to be confirmed by written
confirmation.
Good Morning/ Afternoon/ Evening. May I please speak with
(name of shareholder)? I am representing Putnam Investments
in Boston. I am calling in connection with the upcoming
shareholder meeting for Putnam Asset Allocation Funds -
[Balanced Portfolio, Conservative Portfolio, Growth
Portfolio] * for which you recently received a proxy
statement requesting your vote.
To verify I am speaking with the shareholder of record, may
I confirm that you are (name of shareholder of record) and
that your address of record is (address of record)?
(If the person is unwilling to confirm this information,
thank them for their time and terminate the call.)
We noted that we have not yet received your proxy card. Do
you have any questions regarding the proposals being
considered at the meeting that I can clarify for you?
(If there are questions regarding the proposal, please refer
to the proxy statement.)
Would you like to vote by telephone?
(If not, ask the shareholder if they would like another
proxy card, thank them for their time and terminate the
call. If so, proceed as follows:)
Page 44 of the proxy statement that you received describes
our procedures for voting your shares by telephone.
I will now paraphrase the proxy card so that you can provide
us with your voting instructions. The proxy card generally
states the following:
* State only name of portfolio(s) in which the shareholder
holds shares as of the record date.
<PAGE>
By authorizing your shares to be voted at the meeting you
are approving George Putnam, Hans H. Estin, and Robert E.
Patterson, and each of them separately, as proxies, with
power of substitution, and are authorizing them to represent
and vote your shares, at the meeting of shareholders of
Putnam Asset Allocation Funds - Balanced Portfolio,
Conservative Portfolio, Growth Portfolio on September 5,
1996, at 2:00 p.m., Boston time, and at any adjournments
thereof.
When properly authorized, the proxy will be voted in the
manner directed by the shareholder. In their discretion,
the proxies are authorized to vote upon such other matters
as may properly come before the meeting.
The proxy card requests your vote on the following
proposals, for which the Trustees are recommending your
voting in favor.
Proposal 1
Elect the following nominees as Trustees: 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, E. Shapiro, A.J.C. Smith, W.N.
Thorndike. (Shareholders of all funds voting together)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal? Would you like to withhold authority to
vote for one or more of the nominees?
Proposal 2
Ratify the selection of Price Waterhouse LLP as
independent auditors of your fund? (Shareholders of
all funds voting together)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 3.A.
Amend the fund's fundamental investment restriction
with respect to diversification. (Shareholders of each
fund voting separately)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
<PAGE>
Proposal 3.B.
Amend the fund's fundamental investment restriction
with respect to investments in the voting securities of
a single issuer. (Shareholders of each fund voting
separately)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 3.C.
Amend the fund's fundamental investment restriction
with respect to making loans. (Shareholders of each
fund voting separately)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 3.D.
Approving an amendment to the fund's fundamental
investment restriction with respect to senior
securities (Shareholders of each fund voting
separately)
How would you like to vote on this proposal?
Would you like to vote for this proposal, against the
proposal, or would you like to abstain from voting on
this proposal.
Proposal 3.E.
Amend the fund's fundamental investment restriction
with respect to investments in commodities.
(Shareholders of each fund voting separately)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 4.A.
Eliminate the fund's fundamental investment restriction
with respect to investments in securities of issuers in
which management of the fund or Putnam Investment
Management, Inc. owns securities. (Shareholders of
each fund voting separately)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 4.B.
Eliminate the fund's fundamental investment restriction
with respect to margin transactions. (Shareholders of
each fund voting separately)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 4.C.
Eliminate the fund's fundamental investment restriction
with respect to short sales. (Shareholders of each
fund voting separately)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 4.D.
Eliminate the fund's fundamental investment restriction
with respect to pledging assets. (Shareholders of
each fund voting separately)
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 4.E.
Eliminate the fund's fundamental investment restriction
with respect to investments in restricted securities.
(Shareholders of each fund voting separately).
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 4.F.
Eliminate the fund's fundamental investment restriction
with respect to investments in certain oil, gas and
mineral interests. (Shareholders of each fund voting
separately).
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
Proposal 4.G.
Eliminate the fund's fundamental investment restriction
with respect to investing to gain control of a
company's management. (Shareholders of each fund
voting separately).
How would you like to vote on this proposal?
Would you like to vote for the proposal, against the
proposal, or would you like to abstain from voting on
this proposal?
<PAGE>
Thank you.
I will now repeat your instructions:
You voted: (For, Against, Abstained from) (list all
proposals)
Is this correct?
Thank you. We will be sending you a written confirmation of
your vote. Please call us if the information on the
confirmation is incorrect.
<PAGE>
VOTE BY PHONE CONFIRMATION LETTER
(WRITTEN)
VOTE CONFIRMATION
(Shareholder name & address of record)
PUTNAM ASSET ALLOCATION FUNDS - Balanced Portfolio
Meeting of Shareholders September 5, 1996
Account:
Shares:
Votes Received: (list proposal as on proxy card)
(FOR) (AGAINST) (ABSTAIN)
Dear Shareholder:
In connection with the above-referenced Meeting of
Shareholders, this notice will confirm that your shares have
been voted as indicated in accordance with your telephone
instructions. If any of the information is incorrect,
please call 1-800-735-3428 immediately, and in any event no
later than 5:00 P.M. Eastern Daylight Time on September 4,
1996.
Thank you for your cooperation.
Very truly yours,
(Solicitation Agent)
<PAGE>
VOTE BY PHONE CONFIRMATION LETTER
(WRITTEN)
VOTE CONFIRMATION
(Shareholder name & address of record)
PUTNAM ASSET ALLOCATION FUNDS - Conservative Portfolio
Meeting of Shareholders September 5, 1996
Account:
Shares:
Votes Received: (list proposal as on proxy card)
(FOR) (AGAINST) (ABSTAIN)
Dear Shareholder:
In connection with the above-referenced Meeting of
Shareholders, this notice will confirm that your shares have
been voted as indicated in accordance with your telephone
instructions. If any of the information is incorrect,
please call 1-800-735-3428 immediately, and in any event no
later than 5:00 P.M. Eastern Daylight Time on September 4,
1996.
Thank you for your cooperation.
Very truly yours,
(Solicitation Agent)
<PAGE>
VOTE BY PHONE CONFIRMATION LETTER
(WRITTEN)
VOTE CONFIRMATION
(Shareholder name & address of record)
PUTNAM ASSET ALLOCATION FUNDS - Growth Portfolio
Meeting of Shareholders September 5, 1996
Account:
Shares:
Votes Received: (list proposal as on proxy card)
(FOR) (AGAINST) (ABSTAIN)
Dear Shareholder:
In connection with the above-referenced Meeting of
Shareholders, this notice will confirm that your shares have
been voted as indicated in accordance with your telephone
instructions. If any of the information is incorrect,
please call 1-800-735-3428 immediately, and in any event no
later than 5:00 P.M. Eastern Daylight Time on September 4,
1996.
Thank you for your cooperation.
Very truly yours,
(Solicitation Agent)
