EX-99.16 PWR OF ATTY 9 exnnst8.txt EX-99.16 PWR OF ATTY EXHIBIT 16 POWER OF ATTORNEY We, the undersigned Trustees of each of the funds listed on Schedule A hereto, hereby severally constitute and appoint John A. Hill, George Putnam, III, Charles E. Porter, Patricia C. Flaherty, John W. Gerstmayr, Bryan Chegwidden and Gordon H. Silver, and each of them singly, our true and lawful attorneys, with full power to them and each of them, to sign for us, and in our names and in the capacities indicated below, the Registration Statements on Form N-14 of each of the funds listed on Schedule A hereto and any all amendments (including post-effective amendments) to said Registration Statements and to file the same with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto our said attorneys, and each of them acting alone, full power and authority to do and perform each and every act and thing requisite or necessary to be done in the premises, as fully to all intents and purposes as he might or could do in person, and hereby ratify and confirm all that said attorneys or any of them may lawfully do or cause to be done by virtue thereof. WITNESS my hand and seal on the date set forth below. SIGNATURE TITLE DATE /s/ John A. Hill Chairman of the Board; March 15, 2002 John A. Hill Trustee /s/ George Putnam, III President; Principal; March 15, 2002 George Putnam, III Executive Office; Trustee /s/ Jameson A. Baxter Trustee March 15, 2002 Jameson A. Baxter /s/ Charles B. Curtis Trustee March 15, 2002 Charles B. Curtis /s/ Ronald J. Jackson Trustee March 15, 2002 Ronald J. Jackson /s/ Paul L. Joskow Trustee March 15, 2002 Paul L. Joskow /s/ Elizabeth T. Kennan Trustee March 15, 2002 Elizabeth T. Kennan /s/ Lawrence J. Lasser Trustee March 15, 2002 Lawrence J. Lasser /s/ John H. Mullin III Trustee March 15, 2002 John H. Mullin III /s/ Robert E. Patterson Trustee March 15, 2002 Robert E. Patterson /s/ A. J. C. Smith Trustee March 15, 2002 A. J. C. Smith /s/ W. Thomas Stephens Trustee March 15, 2002 W. Thomas Stephens /s/ W. Nicholas Thorndike Trustee March 15, 2002 W. Nicholas Thorndike SCHEDULE A PUTNAM FUNDS Putnam American Government Income Fund Putnam Arizona Tax Exempt Income Fund Putnam Asia Pacific Growth Fund Putnam Asset Allocation Funds Balanced Portfolio Conservative Portfolio Growth Portfolio Putnam Balanced Fund Putnam Balanced Retirement Fund Putnam California Investment Grade Municipal Trust Putnam California Tax Exempt Income Fund Putnam California Tax Exempt Money Market Fund Putnam Capital Appreciation Fund Putnam Classic Equity Fund Putnam Convertible Income-Growth Trust Putnam Convertible Opportunities and Income Trust Putnam Diversified Income Trust Putnam Equity Income Fund Putnam Europe Growth Fund Putnam Florida Tax Exempt Income Fund Putnam Funds Trust Putnam Asia Pacific Fund II Putnam Equity Fund 98 Putnam Equity Fund 2000 Putnam Financial Services Fund Putnam Growth Fund Putnam High Yield Trust II Putnam International Core Fund Putnam International Fund 2000 Putnam International Growth and Income Fund Putnam Mid Cap 2000 Fund Putnam New Century Growth Fund Putnam Technology Fund Putnam U.S. Core Fund The George Putnam Fund of Boston Putnam Global Equity Fund Putnam Global Governmental Income Trust Putnam Global Growth Fund Putnam Global Natural Resources Fund The Putnam Fund for Growth and Income Putnam Health Sciences Trust Putnam High Income Convertible and Bond Fund Putnam High Yield Advantage Fund Putnam High Yield Municipal Trust Putnam High Yield Trust Putnam Income Fund Putnam Intermediate U.S. Government Income Fund Putnam International Growth Fund Putnam Investment Funds Putnam Balanced Fund Putnam Capital Opportunities Fund Putnam Emerging Markets Fund Putnam Global Growth and Income Fund Putnam Growth Opportunities Fund Putnam International Fund Putnam International Blend Fund Putnam International Large Cap Growth Fund Putnam International New Opportunities Fund Putnam International Voyager Fund Putnam Mid-Cap Value Fund Putnam New Value Fund Putnam Research Fund Putnam Small Cap Value Fund Putnam Global Aggressive Growth Fund Putnam Investment Grade Municipal Trust Putnam Investors Fund Putnam Managed High Yield Trust Putnam Managed Municipal Income Trust Putnam Massachusetts Tax Exempt Income Fund Putnam Master Income Trust Putnam Master Intermediate Income Trust Putnam Michigan Tax Exempt Income Fund Putnam Minnesota Tax Exempt Income Fund Putnam Money Market Fund Putnam Municipal Bond Fund Putnam Municipal Income Fund Putnam Municipal Opportunities Trust Putnam New Jersey Tax Exempt Income Fund Putnam New Opportunities Fund Putnam New York Investment Grade Municipal Trust Putnam New York Tax Exempt Income Fund Putnam New York Tax Exempt Money Market Fund Putnam New York Tax Exempt Opportunities Fund Putnam Ohio Tax Exempt Income Fund Putnam OTC & Emerging Growth Fund Putnam Pennsylvania Tax Exempt Income Fund Putnam Preferred Income Fund Putnam Premier Income Trust Putnam Strategic Income Fund Putnam Tax Exempt Income Fund Putnam Tax Exempt Money Market Fund Putnam Tax-Free Health Care Fund Putnam Tax-Free Income Trust Tax-Free High Yield Fund Tax-Free Insured Fund Putnam Tax Smart Funds Trust Putnam Tax Smart Equity Fund Putnam U.S. Government Income Trust Putnam Utilities Growth and Income Fund Putnam Variable Trust Putnam VT American Government Income Fund Putnam VT Asia Pacific Growth Fund Putnam VT Capital Appreciation Fund Putnam VT Diversified Income Fund Putnam VT Global Asset Allocation Fund Putnam VT Global Growth Fund Putnam VT Growth and Income Fund Putnam VT Growth Opportunities Fund Putnam VT Health Sciences Fund Putnam VT High Yield Fund Putnam VT Income Fund Putnam VT Investors Fund Putnam VT International Growth Fund Putnam VT International Growth and Income Fund Putnam VT International New Opportunities Fund Putnam VT Money Market Fund Putnam VT New Opportunities Fund Putnam VT New Value Fund Putnam VT OTC & Emerging Growth Fund Putnam VT Research Fund Putnam VT Small Cap Value Fund Putnam VT Technology Fund Putnam VT The George Putnam Fund of Boston Putnam VT Utilities Growth and Income Fund Putnam VT Vista Fund Putnam VT Voyager Fund Putnam VT Voyager Fund II Putnam Vista Fund Putnam Voyager Fund Putnam Voyager Fund II POWER OF ATTORNEY We, the undersigned Officers of each of the funds listed on Schedule A hereto, hereby severally constitute and appoint John A. Hill, George Putnam, III, Charles E. Porter, Patricia C. Flaherty, John W. Gerstmayr, Bryan Chegwidden and Gordon H. Silver, and each of them singly, our true and lawful attorneys, with full power to them and each of them, to sign for us, and in our names and in the capacities indicated below, the Registration Statements on Form N-14 of each of the funds listed on Schedule A hereto and any and all amendments (including post-effective amendments) to said Registration Statements and to file the same with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto our said attorneys, and each of them acting alone, full power and authority to do and perform each and every act and thing requisite or necessary to be done in the premises, as fully to all intents and purposes as he might or could do in person, and hereby ratify and confirm all that said attorneys or any of them may lawfully do or cause to be done by virtue thereof. WITNESS my hand and seal on the date set forth below. SIGNATURE TITLE DATE /s/ Michael T. Healy Assistant Treasurer and March 11, 2002 Michael T. Healy Principal Accounting Officer /s/ Judith Cohen Clerk March 15, 2002 Judith Cohen SCHEDULE A PUTNAM FUNDS Putnam American Government Income Fund Putnam Arizona Tax Exempt Income Fund Putnam Asia Pacific Growth Fund Putnam Asset Allocation Funds Balanced Portfolio Conservative Portfolio Growth Portfolio Putnam Balanced Fund Putnam Balanced Retirement Fund Putnam California Investment Grade Municipal Trust Putnam California Tax Exempt Income Fund Putnam California Tax Exempt Money Market Fund Putnam Capital Appreciation Fund Putnam Classic Equity Fund Putnam Convertible Income-Growth Trust Putnam Convertible Opportunities and Income Trust Putnam Diversified Income Trust Putnam Equity Income Fund Putnam Europe Growth Fund Putnam Florida Tax Exempt Income Fund Putnam Funds Trust Putnam Asia Pacific Fund II Putnam Equity Fund 98 Putnam Equity Fund 2000 Putnam Financial Services Fund Putnam Growth Fund Putnam High Yield Trust II Putnam International Core Fund Putnam International Fund 2000 Putnam International Growth and Income Fund Putnam Mid Cap 2000 Fund Putnam New Century Growth Fund Putnam Technology Fund Putnam U.S. Core Fund The George Putnam Fund of Boston Putnam Global Equity Fund Putnam Global Governmental Income Trust Putnam Global Growth Fund Putnam Global Natural Resources Fund The Putnam Fund for Growth and Income Putnam Health Sciences Trust Putnam High Income Convertible and Bond Fund Putnam High Yield Advantage Fund Putnam High Yield Municipal Trust Putnam High Yield Trust Putnam Income Fund Putnam Intermediate U.S. Government Income Fund Putnam International Growth Fund Putnam Investment Funds Putnam Balanced Fund Putnam Capital Opportunities Fund Putnam Emerging Markets Fund Putnam Global Growth and Income Fund Putnam Growth Opportunities Fund Putnam International Fund Putnam International Blend Fund Putnam International Large Cap Growth Fund Putnam International New Opportunities Fund Putnam International Voyager Fund Putnam Mid-Cap Value Fund Putnam New Value Fund Putnam Research Fund Putnam Small Cap Value Fund Putnam Global Aggressive Growth Fund Putnam Investment Grade Municipal Trust Putnam Investors Fund Putnam Managed High Yield Trust Putnam Managed Municipal Income Trust Putnam Massachusetts Tax Exempt Income Fund Putnam Master Income Trust Putnam Master Intermediate Income Trust Putnam Michigan Tax Exempt Income Fund Putnam Minnesota Tax Exempt Income Fund Putnam Money Market Fund Putnam Municipal Bond Fund Putnam Municipal Income Fund Putnam Municipal Opportunities Trust Putnam New Jersey Tax Exempt Income Fund Putnam New Opportunities Fund Putnam New York Investment Grade Municipal Trust Putnam New York Tax Exempt Income Fund Putnam New York Tax Exempt Money Market Fund Putnam New York Tax Exempt Opportunities Fund Putnam Ohio Tax Exempt Income Fund Putnam OTC & Emerging Growth Fund Putnam Pennsylvania Tax Exempt Income Fund Putnam Preferred Income Fund Putnam Premier Income Trust Putnam Strategic Income Fund Putnam Tax Exempt Income Fund Putnam Tax Exempt Money Market Fund Putnam Tax-Free Health Care Fund Putnam Tax-Free Income Trust Tax-Free High Yield Fund Tax-Free Insured Fund Putnam Tax Smart Funds Trust Putnam Tax Smart Equity Fund Putnam U.S. Government Income Trust Putnam Utilities Growth and Income Fund Putnam Variable Trust Putnam VT American Government Income Fund Putnam VT Asia Pacific Growth Fund Putnam VT Capital Appreciation Fund Putnam VT Diversified Income Fund Putnam VT Global Asset Allocation Fund Putnam VT Global Growth Fund Putnam VT Growth and Income Fund Putnam VT Growth Opportunities Fund Putnam VT Health Sciences Fund Putnam VT High Yield Fund Putnam VT Income Fund Putnam VT Investors Fund Putnam VT International Growth Fund Putnam VT International Growth and Income Fund Putnam VT International New Opportunities Fund Putnam VT Money Market Fund Putnam VT New Opportunities Fund Putnam VT New Value Fund Putnam VT OTC & Emerging Growth Fund Putnam VT Research Fund Putnam VT Small Cap Value Fund Putnam VT Technology Fund Putnam VT The George Putnam Fund of Boston Putnam VT Utilities Growth and Income Fund Putnam VT Vista Fund Putnam VT Voyager Fund Putnam VT Voyager Fund II Putnam Vista Fund Putnam Voyager Fund Putnam Voyager Fund II POWER OF ATTORNEY I, the undersigned Treasurer of each of the funds listed on Schedule A hereto, hereby severally constitute and appoint John A. Hill, George Putnam, III, Patricia C. Flaherty, John W. Gerstmayr, Bryan Chegwidden and Gordon H. Silver, and each of them singly, my true and lawful attorneys, with full power to them and each of them, to sign for me, and in my name and in the capacities indicated below, the Registration Statements on Form N-14 of each of the funds listed on Schedule A hereto and any and all amendments (including post-effective amendments) to said Registration Statements and to file the same with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto my said attorneys, and each of them acting alone, full power and authority to do and perform each and every act and thing requisite or necessary to be done in the premises, as fully to all intents and purposes as he might or could do in person, and hereby ratify and confirm all that said attorneys or any of them may lawfully do or cause to be done by virtue thereof. WITNESS my hand and seal on the date set forth below. SIGNATURE TITLE DATE /s/ Charles E. Porter Executive Vice President; March 15, 2002 Charles E. Porter Treasurer and Principal Financial Officer SCHEDULE A PUTNAM FUNDS Putnam American Government Income Fund Putnam Arizona Tax Exempt Income Fund Putnam Asia Pacific Growth Fund Putnam Asset Allocation Funds Balanced Portfolio Conservative Portfolio Growth Portfolio Putnam Balanced Fund Putnam Balanced Retirement Fund Putnam California Investment Grade Municipal Trust Putnam California Tax Exempt Income Fund Putnam California Tax Exempt Money Market Fund Putnam Capital Appreciation Fund Putnam Classic Equity Fund Putnam Convertible Income-Growth Trust Putnam Convertible Opportunities and Income Trust Putnam Diversified Income Trust Putnam Equity Income Fund Putnam Europe Growth Fund Putnam Florida Tax Exempt Income Fund Putnam Funds Trust Putnam Asia Pacific Fund II Putnam Equity Fund 98 Putnam Equity Fund 2000 Putnam Financial Services Fund Putnam Growth Fund Putnam High Yield Trust II Putnam International Core Fund Putnam International Fund 2000 Putnam International Growth and Income Fund Putnam Mid Cap 2000 Fund Putnam New Century Growth Fund Putnam Technology Fund Putnam U.S. Core Fund The George Putnam Fund of Boston Putnam Global Equity Fund Putnam Global Governmental Income Trust Putnam Global Growth Fund Putnam Global Natural Resources Fund The Putnam Fund for Growth and Income Putnam Health Sciences Trust Putnam High Income Convertible and Bond Fund Putnam High Yield Advantage Fund Putnam High Yield Municipal Trust Putnam High Yield Trust Putnam Income Fund Putnam Intermediate U.S. Government Income Fund Putnam International Growth Fund Putnam Investment Funds Putnam Balanced Fund Putnam Capital Opportunities Fund Putnam Emerging Markets Fund Putnam Global Growth and Income Fund Putnam Growth Opportunities Fund Putnam International Fund Putnam International Blend Fund Putnam International Large Cap Growth Fund Putnam International New Opportunities Fund Putnam International Voyager Fund Putnam Mid-Cap Value Fund Putnam New Value Fund Putnam Research Fund Putnam Small Cap Value Fund Putnam Global Aggressive Growth Fund Putnam Investment Grade Municipal Trust Putnam Investors Fund Putnam Managed High Yield Trust Putnam Managed Municipal Income Trust Putnam Massachusetts Tax Exempt Income Fund Putnam Master Income Trust Putnam Master Intermediate Income Trust Putnam Michigan Tax Exempt Income Fund Putnam Minnesota Tax Exempt Income Fund Putnam Money Market Fund Putnam Municipal Bond Fund Putnam Municipal Income Fund Putnam Municipal Opportunities Trust Putnam New Jersey Tax Exempt Income Fund Putnam New Opportunities Fund Putnam New York Investment Grade Municipal Trust Putnam New York Tax Exempt Income Fund Putnam New York Tax Exempt Money Market Fund Putnam New York Tax Exempt Opportunities Fund Putnam Ohio Tax Exempt Income Fund Putnam OTC & Emerging Growth Fund Putnam Pennsylvania Tax Exempt Income Fund Putnam Preferred Income Fund Putnam Premier Income Trust Putnam Strategic Income Fund Putnam Tax Exempt Income Fund Putnam Tax Exempt Money Market Fund Putnam Tax-Free Health Care Fund Putnam Tax-Free Income Trust Tax-Free High Yield Fund Tax-Free Insured Fund Putnam Tax Smart Funds Trust Putnam Tax Smart Equity Fund Putnam U.S. Government Income Trust Putnam Utilities Growth and Income Fund Putnam Variable Trust Putnam VT American Government Income Fund Putnam VT Asia Pacific Growth Fund Putnam VT Capital Appreciation Fund Putnam VT Diversified Income Fund Putnam VT Global Asset Allocation Fund Putnam VT Global Growth Fund Putnam VT Growth and Income Fund Putnam VT Growth Opportunities Fund Putnam VT Health Sciences Fund Putnam VT High Yield Fund Putnam VT Income Fund Putnam VT Investors Fund Putnam VT International Growth Fund Putnam VT International Growth and Income Fund Putnam VT International New Opportunities Fund Putnam VT Money Market Fund Putnam VT New Opportunities Fund Putnam VT New Value Fund Putnam VT OTC & Emerging Growth Fund Putnam VT Research Fund Putnam VT Small Cap Value Fund Putnam VT Technology Fund Putnam VT The George Putnam Fund of Boston Putnam VT Utilities Growth and Income Fund Putnam VT Vista Fund Putnam VT Voyager Fund Putnam VT Voyager Fund II Putnam Vista Fund Putnam Voyager Fund Putnam Voyager Fund II