-----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,
 QKP59/jsuYcPPbaXm2GhuVXtb8ZU2y6KSVoebhf6qzcj5OoCoqLlmackHj3et4UC
 9JwlziLofrMM+Td7MlQKQQ==

<SEC-DOCUMENT>0000892980-96-000020.txt : 19961001
<SEC-HEADER>0000892980-96-000020.hdr.sgml : 19961001
ACCESSION NUMBER:		0000892980-96-000020
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19960930
SROS:			AMEX
SROS:			NYSE

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:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-03873
		FILM NUMBER:		96636925

	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 NEW YORK TAX EXEMPT INCOME TRUST
		CENTRAL INDEX KEY:			0000719712
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				042794490
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-03741
		FILM NUMBER:		96636926

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172921000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM NEW YORK TAX EXEMPT INCOME FUND
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM HIGH YIELD ADVANTAGE FUND
		CENTRAL INDEX KEY:			0000787836
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				066290063
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-04616
		FILM NUMBER:		96636927

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		STREET 2:		MAILSTOP A 14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		8002251581

	MAIL ADDRESS:	
		STREET 1:		NULL

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH YIELD TRUST II
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM NEW YORK TAX EXEMPT MONEY MARKET FUND
		CENTRAL INDEX KEY:			0000821546
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				042980863
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05335
		FILM NUMBER:		96636928

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		STREET 2:		MAILSTOP A14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172921536

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM HIGH YIELD MUNICIPAL TRUST
		CENTRAL INDEX KEY:			0000848077
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046621377
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05795
		FILM NUMBER:		96636929

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		STREET 2:		MAILSTOP A 14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		8002251581

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM INVESTMENT GRADE MUNICIPAL TRUST
		CENTRAL INDEX KEY:			0000855048
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046629611
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05901
		FILM NUMBER:		96636930

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQUARE
		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 INTERMEDIATE US GOVT INCOME FUND
		CENTRAL INDEX KEY:			0000869797
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046661044
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-06257
		FILM NUMBER:		96636931

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQUARE
		STREET 2:		MAILSTOP A 14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		8002551581

	MAIL ADDRESS:	
		STREET 1:		NULL

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM BALANCED GOVERNMENT FUND
		DATE OF NAME CHANGE:	19930121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM BALANCED MORTGAGE FUND
		DATE OF NAME CHANGE:	19921223

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM FOCUS GROWTH FUND
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM INVESTMENT GRADE MUNICIPAL TRUST II
		CENTRAL INDEX KEY:			0000892884
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046716830
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-07270
		FILM NUMBER:		96636932

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQUARE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172921000

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM NEW YORK INVESTMENT GRADE MUNICIPAL TRUST
		CENTRAL INDEX KEY:			0000892960
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046716832
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-07274
		FILM NUMBER:		96636933

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQUARE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172921000

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM CALIFORNIA INVESTMENT GRADE MUNICIPAL TRUST
		CENTRAL INDEX KEY:			0000892980
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046716831
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-07276
		FILM NUMBER:		96636934

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQUARE
		STREET 2:		MAILSTOP A 14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		8002251581

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM MUNICIPAL OPPORTUNITIES TRUST
		CENTRAL INDEX KEY:			0000900422
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				043187549
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-07626
		FILM NUMBER:		96636935

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQUARE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172921000

	MAIL ADDRESS:	
		STREET 1:		ONE POST OFFICE SQUARE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<TEXT>

PRODUCT SUPPORT SERVICES

Proxy Update                               September 30, 1996
                         
Over the next several months, 66 Putnam funds are scheduled to
distribute proxy statements to their shareholders.  Within each
proxy statement, Putnam will solicit shareholder votes on a
number of proposals relating to the operation of each fund. 
These proposals will vary among funds.  Attached is a matrix
which includes all funds scheduled for meetings, the meeting
date, and a list of proposals for each.  Below are explanations
of each proposal.

Trustees
Putnam is requesting that shareholders elect trustees to
represent their fund.  The trustees are responsible for the
general oversight of the fund's business and for assuring that
the fund is managed in the best interest of the shareholders.

Auditors
Shareholders are being asked to ratify the selection by the
trustees of the independent auditors of their fund for its
current fiscal year.  Auditors will review the financial
statements of the fund and issue a report validating the figures.

Investment Restrictions
Putnam is requesting that shareholders approve a number of
amendments to, or deletions of, fundamental investment
restrictions.  The proposals are listed below.

For amending the fund's fundamental investment restriction with
respect to investments in real estate.

For amending the fund's fundamental investment restriction with
respect to diversification.

For amending the fund's fundamental investment restriction with
respect to senior securities.

For amending the fund's fundamental investment restriction with
respect to investments in the voting securities of a single
issuer.

For amending the fund's fundamental investment restriction with
respect to making loans.

For amending the fund's fundamental investment restriction with
respect to investments in commodities.

For amending the fund's fundamental investment restriction with
respect to concentration of its assets.  
<PAGE>
For eliminating the fund's fundamental investment restriction
with respect to investments in certain oil, gas and mineral
interests.

For eliminating the fund's fundamental investment restriction
with respect to pledging assets.

For eliminating the fund's fundamental investment restriction
with respect to margin transactions.

For eliminating the fund's fundamental investment restriction
with respect to short sales.

For eliminating the fund's fundamental investment restriction
with respect to investments in securities of issuers in which
management of the fund or Putnam Investment Management, Inc. owns
securities.

For eliminating the fund's fundamental investment restriction
with respect to investments in other investment companies.

For eliminating the fund's fundamental investment restriction
with respect to investing to gain control of a company's
management.

For eliminating the fund's fundamental investment restriction
with respect to the investments in restricted securities.


For Internal Use Only

Product Support Services is committed to keeping Putnam informed
of any current product/industry information.  If you have any
questions or comments, please contact PSS.






s:\proxy\working\solicit\Q&A1031.WP
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
