SCHEDULE 14A INFORMATION

           PROXY STATEMENT PURSUANT TO SECTION 14(A)
             OF THE SECURITIES EXCHANGE ACT OF 1934
                        (Amendment No. )
                                                             ----
                    Filed by the Registrant                 / X /
                                                           ----
                                                             ----
           Filed by a party other than the Registrant       /   /
                                                           ----
CHECK THE APPROPRIATE BOX:
 ----
/   /     Preliminary Proxy Statement
- ----
 ----
/   /     Confidential, for Use of the Commission Only (as
- ----      permitted by Rule 14a-6(e) (2))

 ----
/   /     Definitive Proxy Statement
- ----
 ----
/ X /     Definitive Additional Materials
- ----
 ----
/   /     Soliciting Material Pursuant to Sec. 240.14a-11(c) or
- ----      Sec. 240.14a-12

                    PUTNAM HIGH QUALITY BOND FUND
        (Name of Registrant as Specified In Its Charter)

           (Name of Person(s) Filing Proxy Statement,
                   if other than Registrant)

PAYMENT OF FILING FEE (CHECK THE APPROPRIATE BOX):

 ----
/ X /     No fee required
- ----
 ----
/   /     Fee computed on table below per Exchange Act Rule 14a
- ----      6(i)(1) and 0-11

          (1) Title of each class of securities to which
          transaction applies:

          (2) Aggregate number of securities to which
          transaction applies:

          (3) Per unit price or other underlying value of
          transaction computed pursuant to Exchange Act Rule
          0-11 (set forth the amount on which the filing fee
          is calculated and state how it was determined):

          (4) Proposed maximum aggregate value of
          transaction:

          (5) Total fee paid:

 ----
/   /     Fee paid previously with preliminary materials.
- ----

 ----
/   /     Check box if any part of the fee is offset as
- ----      provided by Exchange Act Rule 0-11(a)(2) and
          identify the filing for which the offsetting fee
          was paid previously.  Identify the previous filing
          by registration statement number, or the Form or
          Schedule and the date of its filing.

          (1) Amount Previously Paid:

          (2) Form, Schedule or Registration Statement No.:

          (3) Filing Party:

          (4) Date Filed:

                                        George Putnam
                                        Chairman of the Trustees
                                        The Putnam Funds
                                        One Post Office Square
                                        Boston, Massachusetts 02109
                                        

(standard Putnam letterhead)

Date xx, xxxx

Dear Shareholder,

You recently received a proxy statement requesting your vote
on important proposals. Our records show that we have not
received your completed proxy card. Your vote is important,
so we ask that you please record your voting instructions.
We have included another copy of the proxy card and a
business reply envelope for your convenience.

The Trustees are recommending the merger of the Putnam High
Quality Bond Fund into the Putnam American Government Income
Fund. The merger would result in an exchange of your current
shares, at net asset value, for shares of the Putnam
American Government Income Fund.

PUTNAM MANAGEMENT AND THE TRUSTEES BELIEVE THAT THE MERGER
OF THE RELATIVELY SMALL PUTNAM HIGH QUALITY BOND FUND INTO A
LARGER FUND WITH SIMILAR STRATEGY AND OBJECTIVE WILL BE MORE
COST EFFECTIVE AND IN THE BEST INTEREST OF SHAREHOLDERS.

In closing, we ask you to consider the merger proposal as
set forth in the proxy statement carefully. Should you have
any questions, please consult your financial advisor or
contact a Putnam customer service representative at 1-800-
225-1581.

Sincerely,

/s/George Putnam
George Putnam