-----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, J/L4zXJZwQBGFI3ZCramrxw5om9EgOde3NUQNw9Qb1KOCTTyfyEg2k3TwF2ZvZ/C jMQXkhjs8i37IGofQQDoTQ== 0000928816-07-001545.txt : 20071030 0000928816-07-001545.hdr.sgml : 20071030 20071030153943 ACCESSION NUMBER: 0000928816-07-001545 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070831 FILED AS OF DATE: 20071030 DATE AS OF CHANGE: 20071030 EFFECTIVENESS DATE: 20071030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND II CENTRAL INDEX KEY: 0000792288 IRS NUMBER: 046626127 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04518 FILM NUMBER: 071199461 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-292-14 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND /MA/ DATE OF NAME CHANGE: 19920609 0000792288 S000006210 PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND II C000017118 Class C Shares C000017119 Class M Shares C000017120 Class A Shares PXMAX C000017121 Class B Shares PMABX N-Q 1 a_mataxexemptinc.htm PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND a_mataxexemptinc.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY

Investment Company Act file number: (811- 04518)

Exact name of registrant as specified in charter: Putnam Massachusetts Tax Exempt Income Fund

Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109

Name and address of agent for service:  Beth S. Mazor, Vice President 
  One Post Office Square 
  Boston, Massachusetts 02109 
 
Copy to:  John W. Gerstmayr, Esq. 
  Ropes & Gray LLP 
  One International Place 
  Boston, Massachusetts 02110 
 
Registrant’s telephone number, including area code:  (617) 292-1000   

Date of fiscal year end: May 31, 2008

Date of reporting period: August 31, 2007

Item 1. Schedule of Investments:


Putnam Massachusetts Tax Exempt Income Fund
The fund's portfolio
8/31/07 (Unaudited)

Key to abbreviations
AMBAC -- AMBAC Indemnity Corporation
FGIC -- Financial Guaranty Insurance Company
FHLMC Coll. -- Federal Home Loan Mortgage Corporation Collateralized
FNMA Coll. -- Federal National Mortgage Association Collateralized
FSA -- Financial Security Assurance
GNMA Coll. -- Government National Mortgage Association Collateralized
G.O. Bonds -- General Obligation Bonds
MBIA -- MBIA Insurance Company
U.S. Govt. Coll. -- U.S. Government Collateralized
VRDN -- Variable Rate Demand Notes
XLCA -- XL Capital Assurance

MUNICIPAL BONDS AND NOTES (98.5%)(a)       
 
  Rating(RAT)  Principal amount  Value 

Massachusetts (94.5%)       
Boston, Indl. Dev. Fin. Auth. Rev. Bonds (Springhouse,       
Inc.), 6s, 7/1/28  BB-/P  $2,150,000  $2,165,287 
Boston, Indl. Dev. Fin. Auth. Swr. Fac. Rev. Bonds       
(Harbor Elec. Energy Co.), 7 3/8s, 5/15/15  Aa3  4,640,000  4,652,203 
Boston, Wtr. & Swr. Comm. Rev. Bonds, Ser. A, 5 3/4s,       
11/1/13  Aa2  7,435,000  7,850,393 
Framingham, Hsg. Auth. Rev. Bonds (Beaver Terrace),       
Ser. A, GNMA Coll., 6.35s, 2/20/32  AAA  2,100,000  2,278,752 
Holden, G.O. Bonds (Multi-Purpose), FGIC, U.S. Govt.       
Coll., 5 1/2s, 3/1/20 (Prerefunded)  Aaa  5,185,000  5,457,316 
Lowell, G.O. Bonds, Ser. A, XLCA, 5s, 9/15/22  Aaa  1,750,000  1,818,250 
MA Bay Trans. Auth. Sales Tax Rev. Bonds, Ser. C,       
5 1/2s, 7/1/16  AAA  5,000,000  5,536,950 
MA Bay Trans. Auth. Sales Tax Special Tax Bonds, Ser.       
B, 5 1/4s, 7/1/30  AAA  1,350,000  1,459,107 
MA State College Bldg. Auth. Rev. Bonds, Ser. B, XLCA,       
5 1/2s, 5/1/28  Aaa  4,000,000  4,442,320 
MA State Dev. Fin. Agcy. Higher Ed. Rev. Bonds       
(Emerson College), Ser. A       
5s, 1/1/19  A-  1,200,000  1,243,344 
5s, 1/1/18  A-  580,000  604,540 
MA State Dev. Fin. Agcy. Rev. Bonds       
(Lasell College), 6 3/4s, 7/1/31  BB+/P  110,000  113,213 
(Lasell College), 6 3/4s, 7/1/31 (Prerefunded)  BB+/P  1,305,000  1,464,758 
(Lasell Village), Ser. A, 6 3/8s, 12/1/25 (Prerefunded)  BB/P  1,250,000  1,308,613 
(MA Biomedical Research), Ser. C, 6 1/8s, 8/1/12  Aa3  1,950,000  2,065,011 
(MA Biomedical Research), Ser. C, 5 7/8s, 8/1/10  Aa3  1,830,000  1,907,354 
(WGBH Edl. Foundation), Ser. A, AMBAC, 5 3/4s, 1/1/42  Aaa  5,000,000  5,702,300 
(Boston Biomedical Research), 5 3/4s, 2/1/29  Baa3  1,750,000  1,762,775 
(Hampshire College), 5.7s, 10/1/34  BBB  1,315,000  1,347,967 
(Linden Ponds, Inc.), Ser. A, 5 1/2s, 11/15/27  BB/P  600,000  584,958 
(Middlesex School), 5 1/8s, 9/1/23  A1  1,000,000  1,037,270 
(First Mtge. - Orchard Cove), 5s, 10/1/19  BBB-  550,000  522,687 
MA State Dev. Fin. Agcy. VRDN (Boston U.)       
Ser. R-2, XLCA, 3.9s, 10/1/42  VMIG1  3,300,000  3,300,000 
Ser. R-4, XLCA, 3.9s, 10/1/42  VMIG1  1,025,000  1,025,000 
MA State Edl. Fin. Auth. Rev. Bonds, Ser. E, AMBAC,       
5s, 1/1/13  Aaa  3,625,000  3,646,533 
MA State G.O. Bonds (Construction Loan)       
Ser. A, FSA, 5s, 3/1/24 (Prerefunded)  AAA  13,000,000  13,920,920 
Ser. D, 5s, 8/1/21 (Prerefunded)  AAA  3,190,000  3,429,378 
MA State Hlth. & Edl. Fac. Auth. Rev. Bonds       
(Winchester Hosp.), Ser. E, 6 3/4s, 7/1/30       
(Prerefunded)  BBB+/F  2,945,000  3,170,528 
(UMass Memorial), Ser. C, 6 1/2s, 7/1/21  Baa2  3,125,000  3,278,219 
(Berkshire Hlth. Syst.), Ser. E, 6 1/4s, 10/1/31  BBB+  1,300,000  1,347,424 
(Harvard U.), Ser. N, 6 1/4s, 4/1/20  Aaa  5,000,000  5,949,850 
(Learning Ctr. for Deaf Children), Ser. C, 6 1/8s,       
7/1/29  Ba2  1,000,000  982,780 
(Hlth. Care Syst. Covenant Hlth.), Ser. E, 6s, 7/1/31  A  3,000,000  3,147,660 
(Partners Hlth. Care Syst.), Ser. C, 6s, 7/1/15  Aa2  2,100,000  2,247,672 
(Partners Hlth. Care Syst.), Ser. C, 6s, 7/1/14  Aa2  1,460,000  1,563,733 
(Partners Hlth. Care Syst.), Ser. C, 5 3/4s, 7/1/32  Aa2  150,000  155,993 
(Partners Hlth. Care Syst.), Ser. C, 5 3/4s, 7/1/32       
(Prerefunded)  Aa2  3,850,000  4,159,271 
(Baystate Med. Ctr.), Ser. F, 5.7s, 7/1/27  A1  1,000,000  1,028,290 
(Caritas Christian Oblig. Group), Ser. A, 5 5/8s,       
7/1/20  BBB  1,955,000  1,979,301 
(Milton Hosp.), Ser. C, 5 1/2s, 7/1/16  BBB-  800,000  811,480 
(Milton Hosp.), Ser. C, 5 1/2s, 7/1/11  BBB-  1,265,000  1,286,227 
(Cape Cod Hlth. Care), Ser. B, 5.45s, 11/15/23  BBB  2,600,000  2,620,982 
MBIA, 5.38s, 7/1/18  Aaa  15,800,000  15,817,064 
(Jordan Hosp.), Ser. D, 5 3/8s, 10/1/28  BB+  3,000,000  2,942,430 
(Boston College), Ser. K, 5 3/8s, 6/1/14  Aa3  4,250,000  4,578,950 
(Partners Hlth. Care Syst.), Ser. B, 5 1/4s, 7/1/11  Aa2  3,000,000  3,088,200 
(MA Inst. of Tech.), Ser. I-1, 5.2s, 1/1/28  Aaa  10,000,000  10,883,200 
(Simmons College), Ser. F, FGIC, 5s, 10/1/33       
(Prerefunded)  Aaa  5,245,000  5,589,124 
(Worcester City Campus Corp.), Ser. E, FGIC, 5s,       


   
10/1/26  Aaa  2,000,000  2,058,720 
(Fisher College), Ser. A, 5s, 4/1/22  BBB-  1,110,000  1,050,548 
(Wellesley College), 5s, 7/1/17  Aa1  1,000,000  1,046,140 
(Worcester City Campus Corp.), Ser. F, FGIC, 4 1/2s,       
10/1/25  Aaa  2,735,000  2,685,141 
MA State Hsg. Fin. Agcy. Rev. Bonds (Single Fam. Mtge.)       
Ser. 86, 5.1s, 12/1/21  Aa2  325,000  325,358 
Ser. 84, 4 1/4s, 12/1/07  Aa2  435,000  435,078 
MA State Indl. Fin. Agcy. Rev. Bonds       
(1st Mtge. Stone Institution & Newton), 7.9s, 1/1/24  BB-/P  1,500,000  1,505,190 
(American Hingham, Wtr. Treatment), 6 3/4s, 12/1/25  BBB/F  4,520,000  4,535,684 
(1st Mtge. Berkshire Retirement), Ser. A, 6 5/8s,       
7/1/16  BBB-  3,850,000  3,865,785 
(Wentworth Inst. of Tech.), 5 3/4s, 10/1/28       
(Prerefunded)  AAA  1,650,000  1,716,561 
MA State Port Auth. Rev. Bonds, Ser. A       
MBIA, 5s, 7/1/33  AAA  2,400,000  2,425,176 
AMBAC, 5s, 7/1/26  AAA  3,000,000  3,081,870 
MA State Port Auth. Special Fac. Rev. Bonds (BOSFUEL),       
FGIC, 5s, 7/1/27  Aaa  2,500,000  2,503,675 
MA State School Bldg. Auth. Dedicated Sales Tax Rev.       
Bonds, Ser. A       
FSA, 5s, 8/15/23  Aaa  5,000,000  5,161,950 
FSA, 5s, 8/15/20  Aaa  6,500,000  6,781,060 
FSA, 5s, 8/15/17  Aaa  5,000,000  5,302,400 
AMBAC, 4 3/4s, 8/15/32  Aaa  4,000,000  3,948,080 
MA State Special Oblig. Dedicated Tax Rev. Bonds       
FGIC, FHLMC Coll., FNMA Coll., 5 1/4s, 1/1/22       
(Prerefunded)  Aaa  2,000,000  2,152,200 
FGIC, 5 1/4s, 1/1/20 (Prerefunded)  Aaa  5,000,000  5,380,500 
MA State Wtr. Poll. Abatement Rev. Bonds       
Ser. 5, 5 3/8s, 8/1/27  Aaa  4,490,000  4,619,447 
Ser. 5, 5 3/8s, 8/1/27 (Prerefunded)  Aaa  2,510,000  2,612,810 
Ser. 12, 5s, 8/1/20  Aaa  2,645,000  2,774,684 
MA State Wtr. Resource Auth. Rev. Bonds, Ser. A       
6 1/2s, 7/15/19 (Prerefunded)  Aa2  5,500,000  6,427,850 
FGIC, U.S. Govt. Coll., 5 3/4s, 8/1/39 (Prerefunded)  Aaa  10,000,000  10,646,500 
MBIA, 5s, 8/1/29  Aaa  4,000,000  4,086,440 
MBIA, 5s, 8/1/29  Aaa  3,225,000  3,311,075 
MBIA, 5s, 8/1/27  Aaa  1,500,000  1,543,635 
Milford, G.O. Bonds, FSA, 5 1/8s, 12/15/24  Aaa  2,475,000  2,598,923 
Norwell, G.O. Bonds, AMBAC, 5s, 2/15/25  Aaa  1,000,000  1,031,230 
Quincy, Rev. Bonds, FSA, 5.3s, 1/15/11  Aaa  7,200,000  7,205,040 
U. MA Bldg. Auth. Rev. Bonds, Ser. 04-1, AMBAC       
5 3/8s, 11/1/16  Aaa  210,000  227,394 
5 3/8s, 11/1/16 (Prerefunded)  Aaa  790,000  865,722 
Westford, G.O. Bonds, FGIC, 5 1/4s, 4/1/20  Aaa  1,000,000  1,034,050 
      262,221,493 

 
Puerto Rico (3.4%)       
Children's Trust Fund Tobacco Settlement Rev. Bonds,       
5 3/8s, 5/15/33  BBB  2,335,000  2,257,501 
Cmnwlth. of PR, Govt. Dev. Bank Rev. Bonds, Ser. B,       
5s, 12/1/16  Baa3  500,000  523,680 
Cmnwlth. of PR, Hwy. & Trans. Auth. Rev. Bonds, Ser.       
K, 5s, 7/1/17  BBB+  1,500,000  1,557,915 
Cmnwlth. of PR, Pub. Bldg. Auth. Rev. Bonds (Govt.       
Fac.), Ser. I, 5 1/4s, 7/1/29  Baa3  1,500,000  1,531,770 
PR Elec. Pwr. Auth. Rev. Bonds, Ser. RR, FSA, 5s,       
7/1/20  Aaa  3,500,000  3,668,174 
      9,539,040 

 
Virgin Islands (0.6%)       
VI Pub. Fin. Auth. Rev. Bonds, FGIC, 5s, 10/1/24  Aaa  1,500,000  1,562,115 
 
 
TOTAL INVESTMENTS       

Total investments (cost $266,069,981)(b)      $273,322,648 


INTEREST RATE SWAP CONTRACTS OUTSTANDING at 8/31/07 (Unaudited)

        Payments  Payments   
Swap counterparty /      Termination  made by  received by  Unrealized 
Notional amount      date  fund per annum  fund per annum  depreciation 

Goldman Sachs International             
  $2,900,000  (E)  2/28/18  3.846%  USD-SIFMA Municipal Swap   
          Index  $(10,328) 

(E) See Interest rate swap contracts note regarding extended effective dates.


TOTAL RETURN SWAP CONTRACTS OUTSTANDING at 8/31/07 (Unaudited)

             
        Fixed payments  Total return   
Swap counterparty /      Termination  received (paid) by  received by  Unrealized 
Notional amount      date  fund per annum  or paid by fund  appreciation 

Goldman Sachs International             
  $1,650,000  (F)  2/28/08  --  Municipal Market  $309 
          Data AAA   
          municipal 10   
          Year rate   

 
Lehman Brothers Special Financing, Inc.             
  1,650,000    2/29/08  --  4.27% minus  191 
          Lehman Brothers   
          Municipal Swap   
          Index   

 
Total            $500 

(F) Is valued at fair value following procedures approved by the Trustees.


NOTES

(a) Percentages indicated are based on net assets of $277,427,392.

(RAT) The Moody's or Standard & Poor's ratings indicated are believed to be the most recent ratings available at August 31, 2007 for the securities listed. Ratings are generally ascribed to securities at the time of issuance. While the agencies may from time to time revise such ratings, they undertake no obligation to do so, and the ratings do not necessarily represent what the agencies would ascribe to these securities at August 31, 2007. Securities rated by Putnam are indicated by "/P." Securities rated by Fitch are indicated by "/F." Security ratings are defined in the Statement of Additional Information.

(b) The aggregate identified cost on a tax basis is $266,069,981, resulting in gross unrealized appreciation and depreciation of $9,109,323 and $1,856,656, respectively, or net unrealized appreciation of $7,252,667.

At August 31, 2007, liquid assets totaling $405 have been designated as collateral for open swap contracts.

The rates shown on VRDN are the current interest rates at August 31, 2007.

The dates shown on debt obligations are the original maturity dates.

The fund had the following sector concentrations greater than 10% at August 31, 2007 (as a percentage of net assets):

Health care  23.7% 
Utilities and power  19.4 
Education  18.8 
Limited tax  10.2 

The fund had the following insurance concentrations greater than 10% at August 31, 2007 (as a percentage of net assets):

FSA  16.1% 
FGIC  14.1 

Security valuation Tax-exempt bonds and notes are generally valued on the basis of valuations provided by an independent pricing service approved by the Trustees. Such services use information with respect to transactions in bonds, quotations from bond dealers, market transactions in comparable securities and various relationships between securities in determining value. Certain investments and derivatives are also valued at fair value following procedures approved by the Trustees. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security at a given point in time and does not reflect an actual market price, which may be different by a material amount.

Total return swap contracts The fund may enter into total return swap contracts, which are arrangements to exchange a market-linked return for a periodic payment, both based on a notional principal amount. To the extent that the total return of the security or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the fund will receive a payment from or make a payment to the counterparty. Total return swap contracts are marked-to-market daily based upon quotations from market makers and the change, if any, is recorded as unrealized gain or loss. Payments received or made are recorded as realized gains or loss. Certain total return swap contracts may include extended effective dates. Income related to these swap contracts is accrued based on the terms of the contract. The fund could be exposed to credit or market risk due to unfavorable changes in the fluctuation of interest rates or in the price of the underlying security or index, the possibility that there is no liquid market for these agreements or that the counterparty may default on its obligation to perform. Risk of loss may exceed amounts recognized on the statement of assets and liabilities. Total return swap contracts outstanding at period end, if any, are listed after the fund’s portfolio.

Interest rate swap contracts The fund may enter into interest rate swap contracts, which are arrangements between two parties to exchange cash flows based on a notional principal amount, to manage the fund’s exposure to interest rates. Interest rate swap contracts are marked-to-market daily based upon quotations from an independent pricing service or market makers and the change, if any, is recorded as unrealized gain or loss. Payments received or made are recorded as realized gains or loss. Certain interest rate swap contracts may include extended effective dates. Income related to these swap contracts is accrued based on the terms of the contract. The fund could be exposed to credit or market risk due to unfavorable changes in the fluctuation of interest rates or if the counterparty defaults on its obligation to perform. Risk of loss may exceed amounts recognized on the statement of assets and liabilities. Interest rate swap contracts outstanding at period end, if any, are listed after the fund’s portfolio.

For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com


Item 2. Controls and Procedures:

(a) The registrant's principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.

(b) Changes in internal control over financial reporting:

During the period, Putnam Fiduciary Trust Company, the fund's transfer agent, began utilizing shareholder systems and systems support provided by DST Systems, Inc. and certain of its affiliates.

Item 3. Exhibits:

Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Putnam Massachusetts Tax Exempt Income Fund

By (Signature and Title):

/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: October 30, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title):

/s/ Charles E. Porter
Charles E. Porter
Principal Executive Officer
Date: October 30, 2007

By (Signature and Title):

/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: October 30, 2007


EX-99.CERT 2 b_cert.htm EX-99.CERT b_845cert.htm

Certifications

I, Charles E. Porter, the Principal Executive Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting.

/s/ Charles E. Porter
_____________________________
Date: October 29, 2007
Charles E. Porter
Principal Executive Officer


Certifications

I, Steven D. Krichmar, the Principal Financial Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting.

/s/ Steven D. Krichmar
_______________________________
Date: October 29, 2007
Steven D. Krichmar
Principal Financial Officer


Attachment A
NQ
Period (s) ended August 31, 2007

433  Putnam Capital Appreciation Fund 
060  Putnam High Yield Advantage Fund 
949  Putnam Classic Equity Fund 
012  Putnam Equity Income Fund 
398  Putnam Limited Duration Government Income Fund 
168  Putnam Tax Free Health Care Fund 
058  Putnam Investment Grade Municipal Trust 
030  Putnam New York Tax Exempt Income Fund 
846  Putnam Michigan Tax Exempt Income Fund 
019  Putnam New Jersey Tax Exempt Income Fund 
848  Putnam Ohio Tax Exempt Income Fund 
047  Putnam Pennsylvania Tax Exempt Income Fund 
847  Putnam Minnesota Tax Exempt Income Fund 
845  Putnam Massachusetts Tax Exempt Income Fund 
855  Putnam Arizona Tax Exempt Income Fund 


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