EX-99

PricewaterhouseCoo
pers LLP
125 High Street
Boston, MA 02110
Telephone (617)
530 5000
Facsimile (617)
530 5001


Report of Independent Registered Public Accounting Firm


To the Trustees and Shareholders of Putnam New Opportunities
Fund:

In planning and performing our audit of the financial statements
of Putnam New Opportunities Fund for the year ended June 30,
2005, we considered its internal control, including control
activities for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of
Form NSAR, not to provide assurance on internal control.

The management of Putnam New Opportunities Fund is responsible
for establishing and maintaining internal control.  In fulfilling
this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls.  Generally, controls that are relevant to an audit
pertain to the entitys objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles.  Those
controls include the safeguarding of assets against unauthorized
acquisition, use or disposition.

Because of inherent limitations in internal control, errors or
fraud may occur and may not be detected.  Also, projection of any
evaluation of internal control to future periods is subject to
the risk that controls may become inadequate because of changes
in conditions or that the effectiveness of their design and
operation may deteriorate.

Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the Public Company
Accounting Oversight Board (United States).  A material weakness,
for purposes of this report, is a condition in which the design
or operation of one or more of the internal control components
does not reduce to a relatively low level the risk that
misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees
in the normal course of performing their assigned functions.
However, we noted no matters involving internal control and its
operation, including controls for safeguarding securities, that
we consider to be material weaknesses as defined above as of June
30, 2005.

This report is intended solely for the information and use of
management and the Board of Trustees 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
August 9, 2005

EX-99

852 Putnam New Opportunities Fund attachment
6/30/05 Annual

Because of 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:

53A	For the period ended June 30, 2005, Putnam Management has
assumed $256,854 of legal, shareholder servicing and
communication, audit and Trustee fees incurred by the fund in
connection with certain legal and regulatory matters.

74U1 (000s omitted)

Class A	111,785
Class B	20,943
Class C	1,078

74U2 (000s omitted)

Class M	2,671
Class R	4
Class Y	9,425

74V1

Class A	41.60
Class B	37.45
Class C	39.73

74V2

Class M	39.14
Class R	41.38
Class Y	42.97

EX-99

852 Putnam New Opportunities Fund attachment
6/30/05 Annual

77E

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 shareholders and the funds. The
restitution amount will be allocated to shareholders pursuant to
a plan developed by an independent consultant, with payments to
shareholders 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.

On March 23, 2005, Putnam Management entered into a settlement
with the Securities and Exchange Commission resolving its
inquiry into Putnam Managements alleged failure to fully and
effectively disclose a former brokerage allocation practice to
the Board of Trustees and shareholders of the Putnam Funds. This
practice, which Putnam Management ceased as of January 1, 2004,
involved allocating a portion of the brokerage on mutual fund
portfolio transactions to certain broker-dealers who sold shares
of Putnam mutual funds. Under the settlement order, Putnam
Management has paid a civil penalty of $40 million and
disgorgement of $1 to the Securities and Exchange Commission.
These amounts, which are included in Other income on the
Statement of operations, subsequently will be distributed to
certain Putnam funds pursuant to a plan to be approved by the
Securities and Exchange Commission. As part of the settlement,
Putnam Management neither admitted nor denied any wrongdoing.

Putnam Investments has recorded a charge of $30 million for the
estimated cost that it believes will be necessary to address
issues relating to the calculation of certain amounts paid by
the Putnam mutual funds in previous years. The previous payments
were cost reimbursements by the Putnam funds to Putnam for
transfer agent services relating to defined contribution
operations. Putnam currently anticipates that any payments made
by Putnam related to this issue will be paid to the Putnam
funds. Review of this issue is ongoing.

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

852 Putnam New Opportunities Fund attachment

Shareholder meeting results
(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 For 	Votes Withheld
Jameson A. Baxter 		113,453,010 	5,295,919
Charles B. Curtis 		113,103,198 	5,645,731
Myra R. Drucker 		114,336,142 	4,412,787
Charles E. Haldeman, Jr.	114,335,290 	4,413,639
John A. Hill 			113,462,522 	5,286,407
Ronald J. Jackson* 		113,496,027 	5,252,902
Paul L. Joskow 			113,454,552 	5,294,377
Elizabeth T. Kennan 		113,355,675 	5,393,254
John H. Mullin, III 		113,468,723 	5,280,206
Robert E. Patterson 		113,423,684 	5,325,245
George Putnam, III 		113,400,111 	5,348,818
A.J.C. Smith** 			113,360,795 	5,388,134
W. Thomas Stephens 		113,433,818 	5,315,111
Richard B. Worley 		114,332,735 	4,416,194

* Mr. Jackson retired from the Board of Trustees on June
10, 2005.
** Mr. Smith retired from the Board of Trustees on January
14, 2005.

All tabulations are rounded to nearest whole number.


January 10, 2005 meeting

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

Votes For 	Votes Against 		Abstentions
72,516,047 	8,322,183 		37,841,141

A proposal to amend the 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 For 	Votes Against 		Abstentions
72,912,864 	8,034,507 		37,732,000

A proposal to amend the 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 For 	Votes Against 		Abstentions
77,103,763 	4,088,773 		37,486,835

A proposal to amend the funds Agreement and Declaration of
Trust to permit the fund to satisfy redemption requests
other than in cash was defeated as follows:

Votes For 	Votes Against 		Abstentions
67,711,783 	12,439,915 		38,527,673

All tabulations are rounded to nearest whole number.