Proxy Solicitation Script
                                   for 
                       Putnam Tax-Free Income Trust


This script provides information to the shareholder and solicits
his/her vote by mail.

Putnam:   Good Evening Mr./Ms.          . My name is          and
          I'm calling from Putnam Investments in Boston.  I'm
          calling in regard to the important proxy materials
          which you should have received for your Trust's
          shareholders' meeting which will be held in May.  This
          information was mailed to you in early March.  The
          package consisted of a Putnam business envelope with
          black and red print on the outside of the envelope. 
          The words "Important Proxy Material Enclosed   Prompt
          Response Will Save Your Fund Money" were clearly marked
          on the package.  Do you recall receiving it? (Proceed
          to A or B as applicable).

A         (If the shareholder has received the proxy materials.)

S/H:      Yes.

Putnam:   Great, however according to our most recent records, we
          have not received your proxy ballot which was included
          in the package.  Could you tell me if you have already
          returned it? 

     *    If the shareholder received the information, but has
          not sent it back, continue with:  We are calling our
          shareholders to urge them to read and complete the
          Proxy ballot enclosed in the package. By promptly doing
          so, it may save your Trust the cost of an additional
          mailing.

     *    If the shareholder returned the ballot, continue with:
          Thank you very much for your time, Mr./Ms.          .
          Your vote is very important.

     *    If the shareholder threw the ballot away because he/she
          did not think it was important, proceed to B.

B         (If the shareholder has not received the proxy
          materials.)

S/H:      No.

Putnam:   May I confirm your address so that another package can
          be sent to you? (Confirm address with shareholder.) You
          will be receiving a duplicate package shortly.  We ask
          only that you read the materials and take a moment to
          complete and return the proxy ballot.  By promptly
          doing so, it may save your Trust the cost of an
          additional mailing.  If you have any questions in
          regard to this material, please call us, toll-free, at
          1-(800) 225-1581.

Putnam:   Thank you very much for your time, Mr./Ms.         . We
          look forward to receiving your ballot shortly. 


          The following information is only to be given if the
          shareholder would like to know what the proposals are:

Putnam:   The 1994 meeting of the shareholders of your Trust will
          be held on May 5, 1994.  Although we would like to have
          each shareholder attend, we understand this is not
          always possible.  Even if you cannot attend, we need
          your support on the proposals which will be addressed
          at the meeting.

S/H:      What are the proposals?

Putnam:   The proposals to be acted upon at the meeting are more
          fully described in the proxy statement.  I will be
          happy to summarize them for you:

          1    ELECTION OF TRUSTEES.  All of the nominees have
               been nominated by the Nominating Committee and are
               presently Trustees of the Trust.

          2    SELECTION OF AUDITORS.  The Trustees have selected
               Price Waterhouse to be the Trust's auditors.  You
               are given the opportunity to ratify or reject this
               selection.  The Trustees recommend that the
               Trust's shareholders ratify the selection of Price
               Waterhouse.

       (The third proposal is to be voted on only by shareholders of
Tax-Free High Yield Fund)

          3    APPROVAL OR DISAPPROVAL OF AN AMENDMENT TO THE
               MANAGEMENT CONTRACT.  The Trustees recommend that
               the shareholders of Putnam Tax-Free High Yield
               Fund approve an amendment to the Management
               Contract between the Trust and Putnam Investment
               Management, Inc.  The proposed amended Management
               Contract is identical in all other substantive
               respects to the existing contract except for the
               proposed increase in the annual management fee
               payable to Putnam Management by the Fund.  Based
               upon the net assets of Putnam Tax-Free High Yield
               Fund as of January 14, 1994 of $1,839,524,282, the
               effective annual management fee rate under the
               proposed fee schedule would be .545% as compared
               to .468% under the existing schedule.  

               The Trustees believe that the proposed new
               management fee is fair and reasonable and in the
               best interests of the shareholders of Putnam Tax-
               Free High Yield Fund.  If the shareholders do not
               approve the amendment to the Contract, the
               existing Management Contract will continue in
               effect.

Putnam:   Those are the proposals. Can I clarify anything for
          you? If not, please read the materials carefully,
          complete the enclosed proxy card and return it promptly
          in the envelope provided. 

S/H:      Thank you for the information.

Putnam:   Thank you for your time, Mr./Ms.        . Your vote is
          very important, and we look forward to receiving it
          soon.