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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000928816-11-000213.txt : 20110215
<SEC-HEADER>0000928816-11-000213.hdr.sgml : 20110215
<ACCEPTANCE-DATETIME>20110215171637
ACCESSION NUMBER:		0000928816-11-000213
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20110215
DATE AS OF CHANGE:		20110215
EFFECTIVENESS DATE:		20110215

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:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-07626
		FILM NUMBER:		11615127

	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
<FILENAME>a_munioppsdefa14a.htm
<DESCRIPTION>PUTNAM MUNICIPAL OPPORTUNITIES TRUST
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>SCHEDULE 14A INFORMATION</FONT></TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>&nbsp;</FONT></TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>PROXY STATEMENT PURSUANT TO SECTION 14(a)</FONT>&nbsp;</TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>OF THE SECURITIES EXCHANGE ACT OF 1934</FONT>&nbsp;</TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>Filed by the Registrant&nbsp; / X /</FONT></TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>&nbsp;</FONT></TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>Filed by a party other than the Registrant&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT size=2 face=serif>/&nbsp;&nbsp;&nbsp;/</FONT>&nbsp;</TD></TR>
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     <TD colSpan=2 noWrap align=left><B><FONT size=2 face=serif>Check the appropriate box</FONT></B><FONT size=2 face=serif>:</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif><FONT size=2 face=serif>/&nbsp;&nbsp; /</FONT></FONT></TD>
     <TD noWrap align=left><FONT size=2 face=serif><FONT size=2 face=serif>Preliminary Proxy Statement</FONT></FONT></TD>
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     <TD noWrap align=left><FONT size=2 face=serif>/&nbsp;&nbsp;&nbsp;/</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>Confidential, for Use of the Commission Only (as permitted by Rule</FONT>&nbsp;</TD>
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     <TD noWrap align=left><FONT size=2 face=serif>14a-6(e) (2))</FONT>&nbsp;</TD>
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     <TD noWrap align=left><FONT size=2 face=serif>/&nbsp;&nbsp; /</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>Definitive Proxy Statement</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>/ X /</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>Definitive Additional Materials</FONT>&nbsp;</TD>
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     <TD noWrap align=left><FONT size=2 face=serif>/&nbsp;&nbsp; /</FONT>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face=serif>Soliciting Material Pursuant to Sec. 240.14a-11(c) or Sec. 240.14a-12</FONT>&nbsp;</TD></TR>
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     <TD colSpan=3>&nbsp;</TD></TR>
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     <TD colSpan=3 noWrap align=center><B><FONT size=2 face=serif>PUTNAM MUNICIPAL OPPORTUNITIES TRUST</FONT></B>&nbsp;</TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>&nbsp;</FONT></TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>(Name of Registrant as Specified In Its Charter)</FONT>&nbsp;</TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>&nbsp;</FONT></TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>(Name of Person(s) Filing Proxy Statement,</FONT>&nbsp;</TD></TR>
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     <TD colSpan=3 noWrap align=center><FONT size=2 face=serif>if other than Registrant)</FONT></TD></TR></TABLE></DIV>
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     <TD noWrap align=left><FONT size=2 face=serif>/ X /</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>No fee required</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>/&nbsp;&nbsp;&nbsp;/</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>Fee computed on table below per Exchange Act Rule 14a 6(i)(1) and 0-11</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>(1) Title of each class of securities to which transaction applies:</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left></TD>
     <TD noWrap align=left><FONT size=2 face=serif><FONT size=2 face=serif>(2) Aggregate number of securities to which transaction applies:</FONT></FONT></TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>(3) Per unit price or other underlying value of transaction</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>computed pursuant to Exchange Act Rule 0-11 (set forth the</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>(4) Proposed maximum aggregate value of transaction:</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>(5) Total fee paid:</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>/&nbsp;&nbsp; /</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>Fee paid previously with preliminary materials.</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>/&nbsp;&nbsp; /</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>Check box if any part of the fee is offset as provided by Exchange Act Rule</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>0-11(a)(2) and identify the filing for which the offsetting fee was paid</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>previously. Identify the previous filing by registration statement</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>number, or the Form or Schedule and the date of its filing.</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>(1) Amount Previously Paid:</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>(2) Form, Schedule or Registration Statement No.:</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>(3) Filing Party:</FONT>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT size=2 face=serif>(4) Date Filed:</FONT>&nbsp;</TD></TR></TABLE></DIV>
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<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>February 14, 2011</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>Dear Shareholder:</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>I am writing to you because by now, as a shareholder of Putnam Municipal Opportunities Trust (the &#147;fund&#148;), you may have received a letter from Karpus Management, Inc. (&#147;Karpus&#148;).</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>Karpus claims in its letter that your fund&#146;s Board of Trustees and management team have not acted in the best interest of all shareholders. This statement could not be further from the truth. Your fund&#146;s Trustees are independent, highly qualified, active fiduciaries who have proactively protected the long-term interests of shareholders since the fund&#146;s inception.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>By contrast, Karpus is one of several well-known investor groups that specialize in taking positions in closed-end funds with the primary goal of profiting from trading discounts. Once these investor groups have established their position in a fund, they pursue a scheme of pressuring the management of the fund to provide a liquidity event (</FONT><I><FONT size=3 face=sans-serif>e.g.</FONT></I><FONT size=3 face=sans-serif>, a merger, open-ending, or liquidation) that would permit them to realize a trading profit. Karpus&#146;s scheme ignores the substantial cost that a liquidity event can impose on other shareholders under certain market conditions. Karpus&#146;s scheme also ignores the advantages that the closed-end fund structure can provide to shareholders. Contrary to its claims, Karpus has interests that are very different from those of long-term shareholders who consciously selected your fund for the advantages of its closed-end structure.</FONT><
/P>
<P style="TEXT-ALIGN: left"><B><FONT size=3 face=sans-serif>We strongly urge you </FONT></B><B><FONT size=3 face=sans-serif><U>not</U> </FONT></B><B><FONT size=3 face=sans-serif>to respond to any Karpus communication, and especially </FONT></B><B><FONT size=3 face=sans-serif><U>do not vote any GREEN proxy cards</U> </FONT></B><B><FONT size=3 face=sans-serif>that you may receive from Karpus.</FONT></B></P>
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<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>Very shortly we will be sending you management&#146;s proxy statement and our WHITE proxy card. Once you receive our material, we ask you to please show your support of your fund&#146;s current Board of Trustees and management team by reading the material, and signing, dating, and returning the WHITE proxy card.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>Should you have any questions, please do not hesitate to contact our proxy agent by calling toll free, 1 (800) 780-7316.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Sincerely,</FONT></P>
<IMG border=0 src="munioppspmox2x1.jpg">
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<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>John A. Hill, Chairman</FONT><BR>
<FONT size=2 face=sans-serif>Board of Trustees</FONT><BR>
<FONT size=2 face=sans-serif>The Putnam Funds</FONT></P>





<BR>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>FOR MORE INFORMATION: The foregoing is not a solicitation of any proxy. For more information regarding the fund, or to receive a free copy of materials filed with the Securities and Exchange Commission (SEC), please visit Putnam&#146;s Web site at putnam.com/individual. Free copies of these materials can also be found on the SEC&#146;s Web site at </FONT><U><FONT size=2 face=sans-serif>http://www.sec.gov</FONT></U><FONT size=2 face=sans-serif>. Please read the proxy statement carefully when it is available because it will contain important information.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>The fund, its trustees, officers, and other members of management may be deemed to be participants in any future solicitation of the fund&#146;s security holders in connection with its 2010-2011 annual meeting of shareholders. Shareholders may obtain information regarding the names, affiliations, and interests of these individuals in the fund&#146;s Certified Shareholder Report on Form N-CSR for the year ended April 30, 2010 and its proxy statement for the 2010-2011 annual meeting of shareholders when it becomes available.</FONT></P>

















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