EX-99

PricewaterhouseCoopers LLP
125 High Street
Boston, MA 02110-1707
Telephone (617) 530 5000
Facsimile (617) 530 5001
www.pwc.com


Report of Independent Registered Public Accounting Firm

To the Trustees and Shareholders of Putnam Voyager Fund:

In planning and performing our audit of the financial statements
of Putnam Voyager Fund (the Fund) as of and for the year ended
July 31, 2006, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), we considered
the Funds internal control over financial reporting, including
control activities for safeguarding securities, as a basis for
designing our auditing procedures for the purpose of expressing
our opinion on the financial statements and to comply with the
requirements of Form N-SAR, but not for the purpose of expressing
an opinion on the effectiveness of the Funds internal control
over financial reporting. Accordingly, we express no such
opinion.

The management of the Fund is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls.  A funds internal control over
financial reporting is a process designed 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.  Such
internal control over financial reporting includes policies and
procedures that provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition, use or
disposition of a funds assets that could have a material effect
on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.

A control deficiency exists when the design or operation of a
control does not allow management or employees, in the normal
course of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A significant deficiency
is a control deficiency, or combination of control deficiencies,
that adversely affects the funds ability to initiate, authorize,
record, process or report external financial data reliably in
accordance with generally accepted accounting principles such
that there is more than a remote likelihood that a misstatement
of the funds annual or interim financial statements that is more
than inconsequential will not be prevented or detected.  A
material weakness is a control deficiency, or combination of
control deficiencies, that results in more than a remote
likelihood that a material misstatement of the annual or interim
financial statements will not be prevented or detected.

Our consideration of the Funds internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control over financial reporting that might be
significant deficiencies or material weaknesses under standards
established by the Public Company Accounting Oversight Board
(United States).  However, we noted no deficiencies in the Funds
internal control over financial reporting and its operation,
including controls for safeguarding securities, that we consider
to be material weaknesses as defined above as of July 31, 2006.

This report is intended solely for the information and use of
management and the Board of Trustees of Putnam Voyager Fund and
the Securities and Exchange Commission and is not intended to be
and should not be used by anyone other than these specified
parties.


/s/ PricewaterhouseCoopers LLP
September 8, 2006







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EX-99

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 $9,590,469 in
proceeds paid by Putnam Management. The fund had accrued a
receivable for this amount in the prior fiscal year.

During the period, the fund received $6,125,083 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

New accounting pronouncement

In June 2006, FASB issued Interpretation No. 48, Accounting for
Uncertainty in Income Taxes (the Interpretation). The
Interpretation prescribes a minimum threshold for financial
statement recognition of the benefit of a tax position taken or
expected to be taken by a filer in the filers tax return. The
Interpretation will become effective for fiscal years beginning
after December 15, 2006 but will also apply to tax positions
reflected in the funds financial statements as of that date. No
determination has been made whether the adoption of the
Interpretation will require the fund to make any adjustments to
its net assets or have any other effect on the funds financial
statements.

EX-99

007 Putnam Voyager Fund attachment
7/31/06

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 year ended July 31, 2006, Putnam Management has
assumed $148,087 of legal, shareholder servicing and
communication, audit and Trustee fees incurred by the fund in
connection with certain legal and regulatory matters.


72DD1 (000s omitted)

Class A		49,154

72DD2 (000s omitted)

Class M		143
Class R		5
Class Y		18,061

73A1 (000s omitted)

Class A		0.1250

73A2 (000s omitted)

Class M		0.0280
Class R		0.1050
Class Y		0.1720


74U1 (000s omitted)

Class A		341,194
Class B		77,158
Class C		4,659

74U2 (000s omitted)

Class M		3,967
Class R		108
Class Y		94,362


74V1

Class A		16.20
Class B		14.12
Class C		15.50

74V2

Class M		15.22
Class R		16.09
Class Y		16.74

Item 61

Additional Information About Minimum Required Investment

Shareholders can open a fund account with as little as $500 and
make subsequent investments in any amount. The minimum investment
is waived if you make regular investments weekly, semi monthly,
or monthly through automatic deductions through your bank
checking or savings account. Currently, Putnam is waiving the
minimum, but reserves the right to reject initial investments
under the minimum.


Item 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.