CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in this
Post-Effective Amendment No. 39 to the registration statement on Form
N-1A (File No. 33-56339) ("Registration Statement") of our reports dated
October 10, 2000 and October 11, 2000, relating to the financial
statements and financial highlights appearing in the August 31, 2000
Annual Reports of Putnam International Voyager Fund and Putnam New Value
Fund, respectively, each a series of Putnam Investment Funds, which are
also incorporated by reference in to the Registration Statement. Also,
we hereby consent to the incorporation by reference in this
Post-Effective Amendment No. 39 to the registration statement on Form
N-1A (File No. 33-56339) ("Registration Statement") of our reports dated
October 8, 1999 and October 11, 1999 relating to the financial
statements and financial highlights appearing in the August 31, 1999
Annual Reports of Putnam International Fund and Putnam Emerging Markets
Fund, respectively, each a series of Putnam Investment Funds, which are
also incorporated by reference in to the Registration Statement. We also
consent to the references to us under the headings "Financial
highlights" and "Independent Accountants and Financial Statements" in
such Registration Statement.
PricewaterhouseCoopers LLP
Boston, Massachusetts
December 26, 2000
