EX-99

057 Putnam Europe Equity Fund attachment
12/31/04 Semi

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 December 31, 2004, Putnam Management
has assumed $21,710 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		4,235
Class B		1,201
Class C		31

72DD2 (000s omitted)

Class M		78

73A1 (000s omitted)

Class A		0.2630
Class B		0.1060
Class C		0.1110

73A2 (000s omitted)

Class M		0.0920
Class R		0.2290

74U1 (000s omitted)

Class A		16,279
Class B		11,198
Class C		282

74U2 (000s omitted)

Class M		848

74V1

Class A		20.93
Class B		20.24
Class C		20.80

74V2

Class M		20.81
Class R		20.91

EX-99

Results of November 11, 2004 and January 10, 2005 shareholder
meetings
(Unaudited)

A special meeting of shareholders of the fund was held on
November 11, 2004. At that meeting consideration of certain
proposals was adjourned to a final meeting held on January 10,
2005.

November 11, 2004 meeting
At the meeting, each of the nominees for Trustees was elected, as
follows:


     					Votes 		Votes
 	   		 		for 		withheld

Jameson A. Baxter 			17,936,823 	870,676
Charles B. Curtis 			17,939,043 	868,456
Myra R. Drucker 			17,956,305 	851,194
Charles E. Haldeman, Jr. 		17,947,375 	860,124
John A. Hill 				17,938,408 	869,091
Ronald J. Jackson 			17,954,306 	853,193
Paul L. Joskow 				17,943,176 	864,323
Elizabeth T. Kennan 			17,921,426 	886,073
John H. Mullin, III 			17,929,950 	877,549
Robert E. Patterson 			17,942,953 	864,546
George Putnam, III 			17,897,296 	910,203
A.J.C. Smith* 				17,911,884 	895,615
W. Thomas Stephens 			17,927,889 	879,610
Richard B. Worley 			17,953,168 	854,331

A motion with respect to a proposal to approve an amendment to
the funds Agreement and Declaration of Trust was not brought
before the meeting and accordingly no vote was taken with respect
to the proposal.


Results of November 11, 2004 and January 10, 2005 shareholder
meetings (continued)
(Unaudited)

January 10, 2005 meeting
A proposal to amend funds fundamental investment restriction with
respect to borrowing to allow the fund the investments
flexibility permitted by the Investment Company Act was defeated
as follows:

      Votes 				Votes
      for 				against 		Abstentions

      11,766,415 			1,198,777 		6,026,229

A proposal to amend funds fundamental investment restriction with
respect to making loans to enhance the funds ability to
participate in an interfund borrowing and lending program was
defeated as follows:

      Votes 			Votes
      for 			against 		Abstentions

      11,845,783 		1,102,612 		6,043,026

A proposal to amend funds fundamental investment restriction with
respect to diversification of investments to enhance the funds
ability to invest in registered investment companies such as
Putnam Prime Money Market Fund was defeated as follows:

      Votes 			Votes
      for 			against 		Abstentions

      12,280,983 		738,460 		5,971,978



* Mr. Smith resigned from the Board of Trustees on January 21,
2005.
All tabulations are rounded to nearest whole number.

EX-99

Regulatory matters and litigation

On April 8, 2004, Putnam Management entered into agreements with
the Securities and Exchange Commission (SEC) and the
Massachusetts Securities Division representing a final settlement
of all charges brought against Putnam Management by those
agencies on October 28, 2003 in connection with excessive
shortterm trading by Putnam employees and, in the case of the
charges brought by the Massachusetts Securities Division, by
participants in some Putnamadministered 401(k) plans. The
settlement with the SEC requires Putnam Management to pay $5
million in disgorgement plus a civil monetary penalty of $50
million, and the settlement
with the Massachusetts Securities Division requires Putnam
Management to pay $5 million in restitution and an administrative
fine of $50 million. The settlements also leave intact the
process established under an earlier partial settlement with the
SEC under which Putnam Management agreed to pay the amount of
restitution determined by an independent consultant, which may
exceed the disgorgement and restitution amounts specified above,
pursuant to a plan to be developed by the independent consultant.

Putnam Management, and not the investors in any Putnam fund, will
bear all costs, including restitution, civil penalties and
associated legal fees stemming from both of these proceedings.
The SECs 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 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.

The fund may experience increased redemptions as a result of
these matters, which could result in increased transaction costs
and operating expenses.

In connection with its investigation of
certain brokerage matters, the staff of the Philadelphia district
office of the SEC has raised the question whether, in years prior
to 2004, Putnam Management fully and effectively disclosed its
practices relating to the allocation of brokerage on mutual fund
portfolio transactions to broker dealers who sold shares of the
funds. Putnam Management ceased directing brokerage to
brokerdealers in connection with the sale of fund shares as of
January 1, 2004. Putnam Management and the Philadelphia office
negotiated an offer of settlement under which Putnam Management
would pay a civil penalty in the amount of $40 million and
disgorgement in the amount of $1, and the total amount would be
distributed to certain Putnam funds. The offer of settlement is
subject to final documentation and approval by the Commissioners
and the staff of the SEC. Discussions with the staff with respect
to the offer of settlement are ongoing.