EX-99

Putnam Global Equity Fund as of 4/30/06

Regulatory matters and litigation

Putnam Management has entered into agreements with the Securities
and Exchange Commission and the Massachusetts Securities Division
settling charges connected with excessive short term trading by
Putnam employees and, in the case of the charges brought by the
Massachusetts Securities Division, by participants in some Putnam
administered 401(k) plans.  Pursuant to these settlement
agreements, Putnam Management will pay a total of $193.5 million
in penalties and restitution, with $153.5 million being paid to
certain open end funds and their shareholders. The amount will be
allocated to shareholders and funds pursuant to a plan developed
by an independent consultant, and will be paid following approval
of the plan by the SEC and the Massachusetts Securities Division.

The Securities and Exchange Commissions and Massachusetts
Securities Divisions allegations and related matters also serve
as the general basis for numerous lawsuits, including purported
class action lawsuits filed against Putnam Management and certain
related parties, including certain Putnam funds.  Putnam
Management will bear any costs incurred by Putnam funds in
connection with these lawsuits.  Putnam Management believes that
the likelihood that the pending private lawsuits and purported
class action lawsuits will have a material adverse financial
impact on the fund is remote, and the pending actions are not
likely to materially affect its ability to provide investment
management services to its clients, including the Putnam funds.

Pursuant to a settlement with the Securities and Exchange
Commission relating to Putnam Managements brokerage allocation
practices, on October 13, 2005 the fund received $1,820,560 in
proceeds paid by Putnam Management.  The fund had accrued a
receivable for this amount in the prior fiscal year.

In March 2006, the fund received $1,084,260 from Putnam to
address issues relating to the calculation of certain amounts
paid by the Putnam mutual funds to Putnam for transfer agent
services. This amount is included in Fees waived and reimbursed
by Manager or affiliate on the Statement of operations.  Review
of this matter is ongoing and the amount received by the fund may
be adjusted in the future. Such adjustment is not expected to be
material.

Putnam Management and Putnam Retail Management are named as
defendants in a civil suit in which the plaintiffs allege that
the management and distribution fees paid by certain Putnam funds
were excessive and seek recovery under the Investment Company Act
of 1940.  Putnam Management and Putnam Retail Management have
contested the plaintiffs claims and the matter is currently
pending in the U.S. District Court for the District of
Massachusetts.  Based on currently available information, Putnam
Management believes that this action is without merit and that it
is unlikely to have a material effect on Putnam Managements and
Putnam Retail Managements ability to provide services to their
clients, including the fund.

EX-99

Putnam Global Equity Fund, as of 4/30/06, semiannual report

Because the electronic format for filing Form NSAR does not
provide adequate space for responding to certain items correctly,
the correct answers are as follows:

53A	For the period ended April 30, 2006, Putnam Management has
assumed $16,475 of legal, shareholder servicing and
communication, audit and Trustee fees incurred by the fund in
connection with certain legal and regulatory matters.

72DD1 		Class A 15,885
		Class B 172
		Class C 25

72DD2		Class M 106
		Class R 2
		Class Y 254

73A1		Class A 0.075
		Class B 0.004
		Class C 0.007

74A2		Class M 0.029
		Class R 0.067
		Class Y 0.098

74U1		Class A 204,859
		Class B 36,969
		Class C 3,345

74U2		Class M 3,364
		Class R 66
		Class Y 2,490

74V1		Class A 10.22
		Class B 9.33
		Class C 9.83

74V2		Class M 9.87
		Class R 10.17
		Class Y 10.53


85B Additional Information About Errors and Omissions Policy

While no claims with respect to the Registrant/Series were filed
under such policy during the period, requests under such policy
for reimbursement of legal expenses and costs arising out of
claims of market timing activity in the Putnam Funds have been
submitted by the investment manager of the Registrant/Series.