-----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, WkohZM8Bf8w/5GnFQ4OsplSKU78honxBj9AKrS7bLDABOeKUDMVN0IlIff0u8TOE Q8QmcS6OzMuhPxu0bRVzFQ== 0000869392-97-000051.txt : 19970708 0000869392-97-000051.hdr.sgml : 19970708 ACCESSION NUMBER: 0000869392-97-000051 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970707 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000794615 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 043057637 STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-28321 FILM NUMBER: 97636764 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQU CITY: BOSTON STATE: MA ZIP: 02109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM VISTA FUND/NEW/ CENTRAL INDEX KEY: 0000081279 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 042430137 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-27664 FILM NUMBER: 97636765 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VISTA BASIC VALUE FUND DATE OF NAME CHANGE: 19891128 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VISTA FUND DATE OF NAME CHANGE: 19851202 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VISTA FUND INC/PRED/ DATE OF NAME CHANGE: 19821109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM VOYAGER FUND CENTRAL INDEX KEY: 0000081280 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 046187125 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-29546 FILM NUMBER: 97636766 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VOYAGER FUND INC /PRED/ DATE OF NAME CHANGE: 19821109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000205802 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 046396109 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-57165 FILM NUMBER: 97636767 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM PREFERRED INCOME FUND CENTRAL INDEX KEY: 0000730178 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 042811116 STATE OF INCORPORATION: MA FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-87053 FILM NUMBER: 97636768 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-292-11 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CORPORATE ASSET TRUST /MA DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CORPORATE CASH TRUST /MA DATE OF NAME CHANGE: 19910324 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CORPORATE CASH TRUST DIVERSIFIED STRATEGIES PORTFOLIO DATE OF NAME CHANGE: 19900712 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM U S GOVERNMENT INCOME TRUST CENTRAL INDEX KEY: 0000732337 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 042811119 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-87634 FILM NUMBER: 97636769 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921103 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM U S GOVERNMENT GUARANTEED SECURITIES INCOME TRUST DATE OF NAME CHANGE: 19910102 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM UNITED STATES GOVERNMENT SECURITIES INCOME FUND DATE OF NAME CHANGE: 19840806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM UTILITIES GROWTH & INCOME FUND CENTRAL INDEX KEY: 0000867824 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 046660195 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-37011 FILM NUMBER: 97636770 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM VOYAGER FUND II CENTRAL INDEX KEY: 0000868480 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 046661046 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-37527 FILM NUMBER: 97636771 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: NULL FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GROWTH FUND /MA/ DATE OF NAME CHANGE: 19930223 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM SHORT TERM US GOVERNMENT FUND DATE OF NAME CHANGE: 19930223 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VECTOR GROWTH FUND DATE OF NAME CHANGE: 19920703 497 1 DEFINITIVE INFORMATION 1 Statement of Additional Information ("SAI") Supplement dated July 7, 1997 to: PUTNAM AMERICAN GOVERNMENT INCOME FUND SAI dated January 30, 1997 PUTNAM ARIZONA TAX EXEMPT INCOME FUND SAI dated September 30, 1996 PUTNAM ASIA PACIFIC GROWTH FUND SAI dated January 30, 1997 PUTNAM ASSET ALLOCATION FUND: BALANCED PORTFOLIO SAI dated January 30, 1997 PUTNAM ASSET ALLOCATION FUND: CONSERVATIVE PORTFOLIO SAI dated January 30, 1997 PUTNAM ASSET ALLOCATION FUND: GROWTH PORTFOLIO SAI dated January 30, 1997 PUTNAM BALANCED RETIREMENT FUND SAI dated February 28, 1997 PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND SAI dated January 30, 1997 PUTNAM CAPITAL APPRECIATION FUND SAI dated September 30, 1996 PUTNAM CONVERTIBLE INCOME-GROWTH TRUST SAI dated February 28, 1997 PUTNAM DIVERSIFIED EQUITY TRUST SAI dated June 30, 1997 PUTNAM DIVERSIFIED INCOME TRUST SAI dated January 30, 1997 PUTNAM EMERGING MARKETS FUND SAI dated October 30, 1996 PUTNAM EQUITY INCOME FUND SAI dated March 30, 1997 PUTNAM EUROPE GROWTH FUND SAI dated October 30, 1996 PUTNAM FLORIDA TAX EXEMPT INCOME FUND SAI dated September 30, 1996 PUTNAM FEDERAL INCOME TRUST SAI dated February 28, 1997 THE GEORGE PUTNAM FUND OF BOSTON SAI dated November 30, 1996 PUTNAM GLOBAL GOVERNMENTAL INCOME TRUST SAI dated February 28, 1997 PUTNAM GLOBAL GROWTH FUND SAI dated February 28, 1997, as revised June 12, 1997 PUTNAM GLOBAL NATURAL RESOURCES FUND SAI dated December 30, 1996 THE PUTNAM FUND FOR GROWTH AND INCOME SAI dated February 28, 1997 PUTNAM GROWTH AND INCOME FUND II SAI dated March 30, 1997 PUTNAM HIGH YIELD ADVANTAGE FUND SAI dated March 30, 1997 PUTNAM HIGH YIELD TRUST SAI dated December 30, 1996 PUTNAM HEALTH SCIENCES TRUST SAI dated December 30, 1996 PUTNAM INCOME FUND SAI dated February 28, 1997 PUTNAM INTERMEDIATE U.S. GOVERNMENT INCOME FUND SAI dated March 30, 1997 PUTNAM INTERNATIONAL GROWTH FUND SAI dated October 30, 1996 PUTNAM INTERNATIONAL NEW OPPORTUNITIES FUND SAI dated December 31, 1996 PUTNAM INTERNATIONAL VOYAGER FUND SAI dated October 30, 1996 PUTNAM INVESTORS FUND SAI dated November 30, 1996 PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND SAI dated September 30, 1996 PUTNAM MICHIGAN TAX EXEMPT INCOME FUND SAI dated September 30, 1996 PUTNAM MINNESOTA TAX EXEMPT INCOME FUND SAI dated September 30, 1996 PUTNAM MONEY MARKET FUND SAI dated January 30, 1997 PUTNAM MUNICIPAL INCOME FUND SAI dated July 30, 1996 PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND SAI dated September 30, 1996 PUTNAM NEW OPPORTUNITIES FUND SAI dated October 30, 1996 PUTNAM NEW VALUE FUND SAI dated December 31, 1996 PUTNAM NEW YORK TAX EXEMPT INCOME FUND SAI dated January 30, 1997 PUTNAM NEW YORK TAX EXEMPT OPPORTUNITIES FUND SAI dated January 30, 1997 PUTNAM OHIO TAX EXEMPT INCOME FUND SAI dated September 30, 1996 PUTNAM OTC & EMERGING GROWTH FUND SAI dated December 16, 1996 PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND SAI dated September 30, 1996 PUTNAM PREFERRED INCOME FUND SAI dated March 30, 1997 PUTNAM TAX EXEMPT INCOME FUND SAI dated January 30, 1997 PUTNAM TAX-FREE HIGH YIELD FUND SAI dated November 30, 1996 PUTNAM TAX-FREE INSURED FUND SAI dated November 30, 1996 PUTNAM U.S. GOVERNMENT INCOME TRUST SAI dated January 30, 1997 PUTNAM UTILITIES GROWTH AND INCOME FUND SAI dated February 28, 1997 PUTNAM VISTA FUND SAI dated November 30, 1996 PUTNAM VOYAGER FUND SAI dated November 30, 1996 PUTNAM VOYAGER FUND II SAI dated April 30, 1997 The section entitled "Investment Performance" is supplemented by the following: INVESTMENT PERFORMANCE Standard performance measures Putnam American Government Income Fund Class A Class B Class M Inception date: 3/1/85 5/20/94 2/14/95 Annualized total return: (for periods ended 5/31/97) 1 year 2.60% 1.99% 4.12% 5 years 4.74 4.60 4.78 10 years 6.31 5.91 6.13 Yield (period ended 5/31/97) 30-day Yield 5.29% 4.81% 5.14% Putnam Arizona Tax Exempt Income Fund Class A Class B Class M Inception date: 1/30/91 7/15/93 7/3/95 Annualized total return: (for periods ended 5/31/97) 1 year 2.28% 1.82% 3.55% 5 years 5.25 5.16 5.26 Life of fund 6.29 6.29 6.17 Yield (period ended 5/31/97) 30-day Yield 4.50% 4.08% 4.28% Tax-equivalent yield** 7.86% 7.12% 7.47% Putnam Asia Pacific Growth Fund Class A Class B Class M Inception date: 2/20/91 6/1/93 2/1/95 Annualized total return: (for periods ended 5/31/97) 1 year -1.20% -0.82% 0.80% 5 years 11.46 11.74 11.42 Life of fund 9.19 9.38 8.99 Putnam Asset Allocation Funds: Balanced Portfolio Class A Class B Class C Class M Class Y Inception date: 2/7/94 2/11/94 9/1/94 2/6/95 7/5/94 Annualized total return: (for periods ended 5/31/97) 1 year 9.92% 10.73% 14.68% 11.90% 16.82% Life of fund 12.00 12.48 12.99 12.34 14.25 Yield (period ended 5/31/97) 30-day Yield 2.28% 1.65% 1.63% 1.83% 2.64% Putnam Asset Allocation Funds: Conservative Portfolio Class A Class B Class C Class M Class Y Inception date: 2/7/94 2/18/94 9/1/94 2/7/95 7/14/94 Annualized total return: (for periods ended 5/31/97) 1 year 6.42% 7.04% 11.17% 8.47% 13.15% Life of fund 8.06 8.45 9.11 8.32 10.26 Yield (period ended 5/31/97) 30-day Yield 3.03% 2.47% 2.46% 2.62% 3.45% Putnam Asset Allocation Funds: Growth Portfolio Class A Class B Class C Class M Class Y Inception date: 2/8/94 2/16/94 9/1/94 2/3/95 7/14/94 Annualized total return: (for periods ended 5/31/97) 1 year 9.93% 10.78% 14.79% 12.00% 16.94% Life of fund 13.25 13.84 14.31 13.47 15.62 Yield (period ended 5/31/97) 30-day Yield 1.25% 0.60% 0.60% 0.82% 1.58% Putnam Balanced Retirement Fund Class A Class B Class M Inception date: 4/19/85 2/1/94 3/17/95 Annualized total return: (for periods ended 5/31/97) 1 year 11.22% 12.09% 13.29% 5 years 11.50 11.73 11.47 10 years 10.10 9.84 9.74 Yield (period ended 5/31/97) 30-day Yield 3.18% 2.62% 2.83% Putnam California Tax Exempt Income Fund Class A Class B Class M Inception date: 4/29/83 1/4/93 2/14/95 Annualized total return: (for periods ended 5/31/97) 1 year 3.07% 2.59% 4.43% 5 years 5.92 5.84 5.89 10 years 7.70 7.36 7.41 Yield (period ended 5/31/97) 30-day Yield 4.80% 4.39% 4.61% Tax-equivalent yield** 8.76% 8.01% 8.42% Putnam Capital Appreciation Fund Class A Class B Class M Inception date: 8/5/93 11/2/94 1/22/96 Annualized total return: (for periods ended 5/31/97) 1 year 15.88% 17.02% 18.07% Life of fund 25.09 25.68 25.21 Putnam Convertible Income-Growth Trust Class A Class B Class M Inception date: 6/29/72 7/15/93 3/13/95 Annualized total return: (for periods ended 5/31/97) 1 year 9.55% 10.35% 11.66% 5 years 13.33 13.57 13.26 10 years 10.40 10.14 10.01 Yield (period ended 5/31/97) 30-day Yield 4.04% 3.55% 3.65% Putnam Diversified Equity Trust Class A Class B Class M Inception date: 7/1/94 7/1/94 7/3/95 Annualized total return: (for periods ended 5/31/97) 1 year 8.47% 9.41% 10.74% Life of fund 17.35 18.41 17.98 Putnam Diversified Income Trust Class A Class B Class M Class Y Inception date: 10/3/88 3/1/93 12/1/94 7/1/96 Annualized total return: (for periods ended 5/31/97) 1 year 3.97% 3.28% 5.33% 9.39% 5 years 7.96 7.91 8.00 9.07 Life of fund 9.14 8.89 8.99 9.78 Yield (period ended 5/31/97) 30-day Yield 6.40% 5.91% 6.28% 7.01% Putnam Emerging Markets Fund Class A Class B Class M Inception date: 12/28/95 10/30/96 10/30/96 Annualized total return: (for periods ended 5/31/97) 1 year 3.65% 4.19% 5.62% Life of fund 20.05 21.68 21.44 Putnam Equity Income Fund Class A Class B Class M Inception date: 6/15/77 9/13/93 12/2/94 Annualized total return: (for periods ended 5/31/97) 1 year 17.27% 18.45% 19.43% 5 years 16.15 16.44 16.06 10 years 10.80 10.54 10.41 Yield (period ended 5/31/97) 30-day Yield 1.80% 1.18% 1.38% Putnam Europe Growth Fund Class A Class B Class M Inception date: 9/7/90 2/1/94 12/1/94 Annualized total return: (for periods ended 5/31/97) 1 year 15.96% 17.20% 18.27% 5 years 14.35 14.65 14.43 Life of Fund 14.22 14.37 14.10 Putnam Florida Tax Exempt Income Fund Class A Class B Class M Inception date: 8/24/90 1/4/93 5/1/95 Annualized total return: (for periods ended 5/31/97) 1 year 2.88% 2.28% 4.14% 5 years 5.46 5.38 5.48 Life of fund 6.79 6.74 6.64 Yield (period ended 5/31/97) 30-day Yield 4.76% 4.35% 4.54% Tax-equivalent yield** 7.88% 7.20% 7.52% Putnam Federal Income Trust Class A Class B Class M Inception date: 6/2/86 6/6/94 4/12/95 Annualized total return: (for periods ended 5/31/97) 1 year 3.06% 2.38% 4.56% 5 years 4.77 4.66 4.82 10 years 6.96 6.56 6.77 Yield (period ended 5/31/97) 30-day Yield 5.90% 5.44% 5.77% The George Putnam Fund of Boston Class A Class B Class M Class Y Inception date: 11/5/37 4/27/92 12/1/94 4/1/94 Annualized total return: (for periods ended 5/31/97) 1 year 13.22% 14.21% 15.37% 20.47% 5 years 12.55 12.81 12.50 14.10 10 years 11.29 11.03 10.88 12.05 Yield (period ended 5/31/97) 30-day Yield 3.11% 2.57% 2.63% 3.53% Putnam Global Governmental Income Trust Class A Class B Class M Inception date: 6/1/87 2/1/94 3/17/95 Annualized total return: (for periods ended 5/31/97) 1 year 1.69% 1.04% 3.10% 5 years 5.60 5.54 5.62 Life of fund 9.40 9.04 9.21 Yield (period ended 5/31/97) 30-day Yield 6.29% 5.87% 6.05% Putnam Global Growth Fund Class A Class B Class M Class Y Inception date: 9/1/67 4/27/92 3/1/95 6/15/94 Annualized total return: (for periods ended 5/31/97) 1 year 12.05% 12.89% 14.04% 19.18% 5 years 11.84 12.06 11.80 13.54 10 years 9.11% 8.84% 8.74% 9.92% Putnam Global Natural Resources Fund Class A Class B Class M Inception date: 7/24/80 2/1/94 7/3/95 Annualized total return: (for periods ended 5/31/97) 1 year 12.64% 13.69% 14.73% 5 years 10.69 10.93 10.68 10 years 9.95 9.69 9.57 The Putnam Fund For Growth and Income Class A Class B Class M Class Y Inception date: 11/16/57 4/27/92 5/1/95 6/15/94 Annualized total return: (for periods ended 5/31/97) 1 year 17.53% 18.77% 19.73% 25.02% 5 years 16.04 16.31 15.99 17.60 10 years 13.46 13.18 13.06 14.22 Yield (period ended 5/31/97) 30-day Yield 1.90% 1.28% 1.46% 2.23% Putnam Growth and Income Fund II Class A Class B Class M Inception date: 1/5/95 1/5/95 1/5/95 Annualized total return: (for periods ended 5/31/97) 1 year 16.81% 18.10% 19.09% Life of fund 25.16 26.41 25.77 Yield (period ended 5/31/97) 30-day Yield 1.51% 0.87% 1.07% Putnam Health Sciences Trust Class A Class B Class M Inception date: 5/28/82 3/1/93 7/3/95 Annualized total return: (for periods ended 5/31/97) 1 year 12.19% 13.14% 14.28% 5 years 15.85 16.10 15.80 10 years 15.21% 14.93% 14.82% Putnam High Yield Advantage Fund Class A Class B Class M Inception date: 3/25/86 5/16/94 12/1/94 Annualized total return: (for periods ended 5/31/97) 1 year 5.74% 5.18% 7.12% 5 years 9.30 9.08 9.35 10 years 10.30 9.82 10.10 Yield (period ended 5/31/97) 30-day Yield 7.92% 7.57% 7.81% Putnam High Yield Trust Class A Class B Class M Inception date: 2/14/78 3/1/93 7/3/95 Annualized total return: (for periods ended 5/31/97) 1 year 7.39% 6.90% 8.77% 5 years 9.51 9.45 9.57 10 years 9.97 9.59 9.80 Yield (period ended 5/31/97) 30-day Yield 7.75% 7.38% 7.44% Putnam Income Fund Class A Class B Class M Class Y Inception date: 11/1/54 3/1/93 12/1/94 6/16/94 Annualized total return: (for periods ended 5/31/97) 1 year 4.16% 3.63% 5.62% 9.75% 5 years 6.73 6.65 6.75 7.92 10 years 8.59 8.20 8.38 9.21 Yield (period ended 5/31/97) 30-day Yield 5.68% 5.20% 5.49% 6.21% Putnam Intermediate U.S. Government Income Fund Class A Class B Class M Inception date: 2/16/93 2/16/93 4/4/95 Annualized total return: (for periods ended 5/31/97) 1 year 3.64% 3.47% 4.75% Life of fund 4.28 4.46 4.43 Yield (period ended 5/31/97) 30-day Yield 5.20% 4.76% 5.12% Putnam International Growth Fund Class A Class B Class M Class Y Inception date: 2/28/91 6/1/94 12/1/94 7/12/96 Annualized total return: (for periods ended 5/31/97) 1 year 13.80% 14.69% 15.78% 21.02% 5 years 13.44 13.63 13.43 14.85 Life of fund 11.71 11.84 11.53 12.83 Putnam International New Opportunities Fund Class A Class B Class M Inception date: 1/3/95 7/21/95 7/21/95 Annualized total return: (for periods ended 5/31/97) 1 year 7.89% 8.56% 9.82% Life of fund 18.27 19.37 18.89 Putnam International Voyager Fund Class A Class B Class M Inception date: 12/28/95 10/30/96 10/30/96 Annualized total return: (for periods ended 5/31/97) 1 year 12.77% 13.81% 14.83% Life of fund 17.86% 19.45% 19.20% Putnam Investors Fund Class A Class B Class M Class Y Inception date: 12/1/25 3/1/93 12/2/94 11/30/96 Annualized total return: (for periods ended 5/31/97) 1 year 17.09% 18.38% 19.28% 24.22% 5 years 17.33 17.59 17.27 18.72 10 years 12.99% 12.68% 12.59% 13.67% Putnam Massachusetts Tax Exempt Income Fund Class A Class B Class M Inception date: 10/23/89 7/15/93 5/12/95 Annualized total return: (for periods ended 5/31/97) 1 year 2.83% 2.35% 4.17% 5 years 6.08 6.04 6.03 Life of fund 7.44 7.30 7.24 Yield (period ended 5/31/97) 30-day Yield 4.98% 4.57% 4.77% Tax-equivalent yield** 9.37% 8.60% 8.97% Putnam Michigan Tax Exempt Income Fund Class A Class B Class M Inception date: 10/23/89 7/15/93 4/17/95 Annualized total return: (for periods ended 5/31/97) 1 year 3.24% 2.73% 4.54% 5 years 5.70 5.70 5.68 Life of fund 6.58 6.47 6.39 Yield (period ended 5/31/97) 30-day yield 4.93% 4.53% 4.73% Tax-equivalent yield** 8.54% 7.85% 8.19% Putnam Minnesota Tax Exempt Income Fund Class A Class B Class M Inception date: 10/23/89 7/15/93 4/3/95 Annualized total return: (for periods ended 5/31/97) 1 year 2.34% 1.83% 3.63% 5 years 5.21 5.12 5.17 Life of fund 6.18 6.02 5.97 Yield (period ended 5/31/97) 30-day Yield 4.91% 4.55% 4.74% Tax-equivalent yield** 8.88% 8.23% 8.58% Putnam Money Market Fund Class A Class B Class M Inception date: 10/1/76 4/27/92 12/8/94 Annualized total return: (for periods ended 5/31/97) 1 year 5.07% -0.45% 4.91% 5 years 4.13 3.28 3.98 10 years 5.52 5.01 5.36 Yield (period ended 5/31/97) 7-day yield 5.39% 4.89% 5.24% Effective yield 5.54% 5.01% 5.38% Putnam Municipal Income Fund Class A Class B Class M Inception date: 5/22/89 1/4/93 12/1/94 Annualized total return: (for periods ended 5/31/97) 1 year 3.32% 2.87% 4.77% 5 years 6.02 6.01 6.04 Yield (period ended 5/31/97) 30-day Yield 5.37% 5.04% 5.22% Tax-equivalent yield* 8.89% 8.34% 8.64% Putnam New Jersey Tax Exempt Income Fund Class A Class B Class M Inception date: 2/20/90 1/4/93 5/1/95 Annualized total return: (for periods ended 5/31/97) 1 year 3.23% 2.74% 4.65% 5 years 5.57 5.47 5.57 Yield (period ended 5/31/97) 30-day Yield 4.72% 4.32% 4.52% Tax-equivalent yield** 8.35% 7.64% 7.99% Putnam New Opportunities Fund Class A Class B Class M Class Y Inception date: 8/31/90 3/1/93 12/1/94 7/19/94 Annualized total return: (for periods ended 5/31/97) 1 year -9.89% -9.80% -8.18% -4.15% 5 years 23.12 23.52 23.08 24.78 Life of fund 27.30 27.43 27.05 28.56 Putnam New Value Fund Class A Class B Class M Inception date: 1/3/95 2/26/96 2/26/96 Annualized total return: (for periods ended 5/31/97) 1 year 14.94% 16.02% 17.11% Life of fund 25.11 26.36 25.69 Yield (period ended 5/31/97) 30-day Yield 1.32% 0.68% 0.89% Putnam New York Tax Exempt Income Fund Class A Class B Class M Inception date: 9/2/83 1/4/93 4/10/95 Annualized total return: (for periods ended 5/31/97) 1 year 3.19% 2.55% 4.51% 5 years 5.48 5.39 5.43 10 years 7.48 7.12 7.17 Yield (period ended 5/31/97) 30-day Yield 4.73% 4.29% 4.53% Tax-equivalent yield*** 8.77% 7.96% 8.40% Putnam New York Tax Exempt Opportunities Fund Class A Class B Class M Inception date: 11/7/90 2/1/94 2/10/95 Annualized total return: (for periods ended 5/31/97) 1 year 2.79% 2.18% 4.08% 5 years 5.66 5.62 5.58 Yield (period ended 5/31/97) 30-day Yield 4.98% 4.53% 4.72% Tax-equivalent yield*** 9.24% 8.40% 8.75% Putnam Ohio Tax Exempt Income Fund Class A Class B Class M Inception date: 10/23/89 7/15/93 4/3/95 Annualized total return: (for periods ended 5/31/97) 1 year 2.72% 2.10% 4.12% 5 years 5.51 5.44 5.50 Life of fund 6.48 6.33 6.29 Yield (period ended 5/31/97) 30-day Yield 4.80% 4.39% 4.58% Tax-equivalent yield** 8.55% 7.82% 8.15% Putnam OTC & Emerging Growth Fund Class A Class B Class M Class Y Inception date: 11/1/82 7/15/93 12/2/94 7/12/96 Annualized total return: (for periods ended 5/31/97) 1 year -21.65% -21.26% -20.14% -16.57% 5 years 19.48 19.80 19.45 20.98 10 years 13.57 13.30 13.18 14.29 Putnam Pennsylvania Tax Exempt Income Fund Class A Class B Class M Inception date: 7/21/89 7/15/93 7/3/95 Annualized total return: (for periods ended 5/31/97) 1 year 2.77% 2.17% 3.99% 5 years 6.02 5.93 6.03 Life of fund 7.02 6.82 6.81 Yield (period ended 5/31/97) 30-day Yield 5.05% 4.65% 4.84% Tax-equivalent yield** 8.60% 7.92% 8.24% Putnam Preferred Income Fund Class A Class M Inception date: 1/4/84 4/20/95 Annualized total return: (for periods ended 5/31/97) 1 year 7.56% 8.69% 5 years 7.47 7.37 10 years 7.63 7.44 Yield (period ended 5/31/97) 30-day Yield 6.46% 6.28% Putnam Tax Exempt Income Fund Class A Class B Class M Inception date: 12/31/76 1/4/93 2/16/95 Annualized total return: (for periods ended 5/31/97) 1 year 3.66% 3.12% 4.97% 5 years 5.80 5.76 5.79 10 years 7.77 7.45 7.49 Yield (period ended 5/31/97) 30-day Yield 4.97% 4.57% 4.76% Tax-equivalent yield* 8.23% 7.57% 7.88% Putnam U.S. Government Income Trust Class A Class B Class M Class Y Inception date: 2/8/84 4/27/92 2/6/95 4/11/94 Annualized total return: (for periods ended 5/31/97) 1 year 3.41% 2.80% 4.90% 8.81% 5 years 4.93 4.85 5.02 6.13 10 years 7.24 6.88 7.07 7.85 Yield (period ended 5/31/97) 30-day Yield 6.30% 5.86% 6.17% 6.87% Putnam Utilities Growth and Income Fund Class A Class B Class M Inception date: 11/19/90 4/27/92 3/1/95 Annualized total return: (for periods ended 5/31/97) 1 year 10.48% 11.35% 12.74% 5 years 11.48 11.73 11.50 Life of fund 11.07 11.26 10.93 Yield (period ended 5/31/97) 30-day Yield 3.23% 2.69% 2.81% Putnam Vista Fund Class A Class B Class M Class Y Inception date: 6/3/68 3/1/93 12/1/94 3/28/95 Annualized total return: (for periods ended 5/31/97) 1 year 3.70% 4.15% 5.67% 10.29% 5 years 17.35 17.64 17.31 18.91 10 years 14.04 13.76 13.65 14.79 Putnam Voyager Fund Class A Class B Class M Class Y Inception date: 4/1/69 4/27/92 12/1/94 4/1/94 Annualized total return: (for periods ended 5/31/97) 1 year -0.80% -0.46% 0.99% 5.50% 5 years 17.11 17.37 17.07 18.72 10 years 15.10 14.82 14.72 15.90 Putnam Voyager Fund II Class A Class B Class M Inception date: 4/14/93 10/2/95 10/2/95 Annualized total return: (for periods ended 5/31/97) 1 year -8.42% -8.32% -6.68% Life of fund 17.76 18.29 17.86 * Assumes the combined maximum federal tax rates when applicable. Results for investors subject to lower tax rates would not be as advantageous. ** Assumes the combined maximum federal and state tax rates when applicable. Results for investors subject to lower tax rates would not be as advantageous. *** Assumes the combined maximum federal, state and city tax rates when applicable. Results for investors subject to lower tax rates would not be as advantageous. Returns for class A and class M shares reflect the deduction of the current maximum initial sales charges of 5.75% (4.75% for Putnam Diversified Income Trust, Putnam Income Fund and Putnam U.S. Government Income Trust and zero for Putnam Money Market Fund) for class A shares and 3.50% (3.25% for Putnam Diversified Income Trust, Putnam Income Fund and Putnam U.S. Government Income Trust and zero for Putnam Money Market Fund) for class M shares. Returns for class B shares reflect the deduction of the applicable contingent deferred sales charge ("CDSC"), which is 5% (3% for Putnam Intermediate U.S. Government Income Fund) in the first year, declining to 1% in the sixth year (fourth year for Putnam Intermediate U.S. Government Income Fund), and is eliminated thereafter. Class Y shares are offered without an initial sales charge or CDSC. Returns shown for class B, class M and class Y shares for periods prior to their inception are derived from the historical performance of class A shares, adjusted to reflect both the deduction of the initial sales charge or CDSC, if any, currently applicable to each class and, in the case of class B and class M shares, the higher operating expenses applicable to such shares. For class C shares of the Asset Allocation Funds, returns shown for periods prior to their inception are derived from the historical performance of class A shares, adjusted to reflect both the deduction of the CDSC currently applicable to class C shares, which is 1% for the first year and is eliminated thereafter, and the higher operating expenses applicable to class C shares. Returns shown for class A shares have not been adjusted to reflect payments under the class A distribution plan prior to its implementation. All returns assume reinvestment of distributions at net asset value and represent past performance; they do not guarantee future results. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 34626 -----END PRIVACY-ENHANCED MESSAGE-----