EX-99

852 Putnam New Opportunities Fund attachment
6/30/06 Annual

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

852 Putnam New Opportunities Fund attachment
6/30/06 Annual

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 $3,010,524 in
proceeds paid by Putnam Management. The fund had accrued a
receivable for this amount in the prior fiscal year.

In March 2006, the fund received $3,605,432 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

852 Putnam New Opportunities Fund attachment
6/30/06 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 year ended June 30, 2006, Putnam Management has
assumed $77,215 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	80,673
Class B	14,958
Class C	919

74U2 (000s omitted)

Class M	1,828
Class R	11
Class Y	8,739

74V1

Class A	45.72
Class B	40.85
Class C	43.34

74V2

Class M	42.79
Class R	45.37
Class Y	47.34



Additional Information About Errors and Omissions Policy--Item
85B

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.

EX-99

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 (the Fund) as of and for the
year ended June 30, 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 June 30, 2006.

This report is intended solely for the information and use of
management and the Board of Trustees of Putnam New Opportunities
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
August 10, 2006