EX-99

007 Putnam Voyager Fund attachment
1/31/04 Semi-annual

Putnam Management has agreed to assume certain expenses incurred
by the fund in connection with allegations of improper short-
term trading activity.  During the funds period ended January
31, 2004, legal, shareholder servicing and communication, audit, and
Trustee fees incurred by the fund and assumed by Putnam Management were
$340,331.

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

74U1	(000s omitted)

Class A	666,813
Class B	192,236
Class C	8,939

74U2	(000s omitted)

Class M	18,696
Class R	5
Class Y	195,144

74V1

Class A	16.19
Class B	14.27
Class C	15.67

74V2

Class M	15.32
Class R	16.16
Class Y	16.67

EX-99

Putnam Voyager Fund
Item 77E attachment
1/31/04 semi-annual

Regulatory matters and litigation.  On November 13, 2003, Putnam
Management agreed to entry of an order by the Securities and
Exchange Commission in partial resolution of administrative and
cease-and-desist proceedings initiated by the SEC on October 28,
2003 in connection with alleged excessive short-term trading by
at least six Putnam Management investment professionals.  The
SECs findings reflect that four of those employees engaged in
such trading in funds over which they had investment decision-
making responsibility and had access to non-public information
regarding, among other things, current portfolio holdings and
valuations.  The six individuals are no longer employed by
Putnam Management. Under the order, Putnam Management will make
restitution for losses attributable to excessive short-term
trading by Putnam employees, institute new employee trading
restrictions and enhanced employee trading compliance, retain an
independent compliance consultant, and take other remedial
actions.  Putnam Management neither admitted nor denied the
orders findings, which included findings that Putnam Management
willfully violated provisions of the federal securities laws.  A
civil monetary penalty and other monetary relief, if any, will
be determined at a later date. If a hearing is necessary to
determine the amounts of such penalty or other relief, Putnam
Management will be precluded from arguing that it did not
violate the federal securities laws in the manner described in
the SEC order, the findings set forth in the SEC order will be
accepted as true by the hearing officer and additional evidence
may be presented.  Putnam Management, and not the investors in
any Putnam fund, will bear all costs, including restitution,
civil penalties and associated legal fees.  Administrative
proceedings instituted by the Commonwealth of Massachusetts on
October 28, 2003 against Putnam Management in connection with
alleged market timing activities by Putnam employees and by
participants in some Putnam-administered 401(k) plans are
pending.  Putnam Management has committed to make complete
restitution for any losses suffered by Putnam shareholders as a
result of any improper market-timing activities by Putnam
employees or within Putnam-administered 401(k) plans.

The SECs and Commonwealths 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 has agreed to bear any costs incurred by
Putnam funds in connection with these lawsuits.  Based on
currently available information, 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.

For the period ended January 31, 2004, Putnam Management has
assumed $340,331 of legal, shareholder servicing and
communication, audit, and Trustee fees incurred by the fund in
connection with these matters.

Review of these matters by counsel for Putnam Management and by
separate independent counsel for the Putnam funds and their
independent Trustees is continuing.  In addition, Marsh &
McLennan Companies, Inc., Putnam Managements parent company, has
engaged counsel to conduct a separate review of Putnam
Managements policies and controls related to short-term trading.
The fund may experience increased redemptions as a result of
these matters, which could result in increased transaction costs
and operating expenses.