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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000869392-05-000082.txt : 20050628
<SEC-HEADER>0000869392-05-000082.hdr.sgml : 20050628
<ACCEPTANCE-DATETIME>20050628162452
ACCESSION NUMBER:		0000869392-05-000082
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20050430
FILED AS OF DATE:		20050628
DATE AS OF CHANGE:		20050628
EFFECTIVENESS DATE:		20050628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM MUNICIPAL OPPORTUNITIES TRUST
		CENTRAL INDEX KEY:			0000900422
		IRS NUMBER:				043187549
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07626
		FILM NUMBER:		05921125

	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>
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<TEXT>
<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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022 B000004 13-2655998
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022 A000007 BANK OF AMERICA CORP.
022 B000007 94-1687665
022 C000007      3628
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022 A000008 LEGG MASON WOOD WALKER, INC.
022 B000008 52-0902557
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022 A000009 SAMUEL RAMIREZ
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SIGNATURE   MICHAEL T. HEALY
TITLE       PRINC. ACCT. OFFICER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>auditletter582.txt
<TEXT>

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 Municipal
Opportunities Trust:

In planning and performing our audit of the financial statements
of Putnam Municipal Opportunities Trust for the year ended April
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 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 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
April 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
June 8, 2005
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>legal77e582.txt
<TEXT>
Note 5
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 currently
expected by the end
of the summer.

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 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.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
