<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>auditletter582.txt
<TEXT>
June 9, 2003


To the Trustees and Shareholders of Putnam Municipal
Opportunities Trust:

In planning and performing our audit of the financial statements
of Putnam Municipal Opportunities Trust for the year ended April
30, 2003, 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 N-SAR, not to provide assurance on internal
control.

The management of Putnam Municipal Opportunities Trust 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 accounting principles
generally accepted in the United States of America.  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 the 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 American Institute
of Certified Public Accountants.  A material weakness 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 April 30, 2003.

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.



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