-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OTfeXERFbzkh2lxarwbpYv9tPcKnDzI66YAyFAEORx/MlI4bDdv0YWqbw/3AwG5l n88iiZbxW4vKytMW5/ICSQ== 0000928816-04-001068.txt : 20041019 0000928816-04-001068.hdr.sgml : 20041019 20041019160354 ACCESSION NUMBER: 0000928816-04-001068 CONFORMED SUBMISSION TYPE: 425 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20041019 DATE AS OF CHANGE: 20041019 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MUNICIPAL INCOME FUND CENTRAL INDEX KEY: 0000844872 IRS NUMBER: 043039506 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 425 SEC ACT: 1934 Act SEC FILE NUMBER: 811-05763 FILM NUMBER: 041085358 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921562 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM TAX FREE HIGH INCOME FUND DATE OF NAME CHANGE: 19920528 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM TAX FREE INCOME TRUST /MA/ CENTRAL INDEX KEY: 0000771951 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 046483374 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 425 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: NULL FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM TAX FREE INCOME TRUST DATE OF NAME CHANGE: 19920101 425 1 mif1.txt PUTNAM MUNICIPAL INCOME FUND PUTNAM INVESTMENTS news One Post Office Square Boston, Massachusetts 02109 1-617-760-7529 FOR IMMEDIATE RELEASE CONTACT: Nancy Fisher Laura McNamara Putnam Investments Putnam Investments 617-760-1608 617-760-1108 PUTNAM ANNOUNCES PROPOSED FUND MERGER BOSTON - (October 19, 2004) - Putnam Investments today announced that the Trustees of The Putnam Funds have approved in principle the merger of Putnam Municipal Income Fund into Putnam Tax-Free High Yield Fund. The merger is part of Putnam's ongoing efforts to clarify and refine its product line. The funds under consideration for merging have similar investment objectives and strategies. Both funds invest mainly in bonds that pay interest exempt from federal income tax. Because the combined fund would have a larger asset base, investors are expected to benefit from lower expenses. It is currently expected that the merger will be a tax-free transaction. However, there can be no assurance of the tax treatment of the merger, or that the expected benefits of the merger will be realized. Putnam Municipal Income Fund does not expect to accept new accounts after November 15, 2004. The completion of the merger transaction is subject to significant conditions, including final approval by the Trustees and approval by shareholders of Putnam Municipal Income Fund at a shareholder meeting expected to be held within approximately the next six months. There can be no assurance that the transaction will be completed. Putnam Municipal Income Fund: (Assets over $769 million as of September 30, 2004). The fund seeks as high a level of current income exempt from federal income taxes as Putnam Management believes is consistent with preservation of capital by combining investment grade and lower-rated municipal bonds in a nationally diversified portfolio. The combination of investment-grade bonds and higher-yielding lower-rated bonds is designed to help keep average portfolio quality high while potentially increasing the fund's income levels. The fund is currently managed by David E. Hamlin, (portfolio leader), Paul Drury, Susan A. McCormack, and James St. John (portfolio members), and the Putnam tax-exempt fixed income team. Putnam Tax-Free High Yield Fund: (Assets over $997 million as of September 30, 2004). The fund invests in a nationally diversified portfolio of lower-rated, higher-yielding municipal bonds and investment grade municipal bonds, with approximately 40% of its portfolio invested in lower-rated bonds as of July 31, 2004. The fund seeks high current income exempt from federal income tax. The fund is currently managed by David E. Hamlin (portfolio leader), Paul Drury, Susan A. McCormack, and James St. John (portfolio members), and the Putnam tax-exempt fixed income team. Assuming completion of the proposed merger, the fund will have approximately $1.7 billion in assets. About Putnam Investments: Founded in 1937, Putnam Investments is one of the nation's oldest and largest money management firms. As of September 30, 2004, Putnam managed $209 billion in assets, mutual fund assets were $140 billion and institutional assets were $69 billion, for nearly 11 million individual shareholders accounts and 500 institutional clients. Putnam has offices in Boston, London and Tokyo. For more information, go to www.putnaminvestments.com. ### Note: The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of any fund, nor is it a solicitation of a proxy. To receive a free copy of the prospectus/proxy statement relating to a proposed merger (which contains important information about fees, expenses and risk considerations) after a registration statement has been filed with the SEC and becomes effective, please call 1-800-225-1581. The prospectus/proxy statement will also be available without charge on the SEC's website (www.sec.gov). Read the prospectus/proxy statement carefully before making any investment decisions. [SCALES LOGO OMITTED] www.putnaminvestments,com -----END PRIVACY-ENHANCED MESSAGE-----