-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FZNdVkqk9KgcioMk/5/YG0OpjjOy9QG4kV6zPr0s9ZkJrrtpdG74zLvMZZOBpHfh
 Q7agEfOq1uqKpoJubdY9XQ==

<SEC-DOCUMENT>0000832754-97-000002.txt : 19970107
<SEC-HEADER>0000832754-97-000002.hdr.sgml : 19970107
ACCESSION NUMBER:		0000832754-97-000002
CONFORMED SUBMISSION TYPE:	N-23C-1
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19961231
FILED AS OF DATE:		19970106
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM MASTER INTERMEDIATE INCOME TRUST
		CENTRAL INDEX KEY:			0000830622
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046584465
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		N-23C-1
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	817-00189
		FILM NUMBER:		97501397

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172921000
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-23C-1
<SEQUENCE>1
<TEXT>

									FORM N-23C-1
							STATEMENT BY REGISTERED CLOSED-END
					INVESTMENT COMPANY WITH RESPECT TO PURCHASES OF ITS OWN 
				SECURITIES PURSUANT TO RULE N-23C-1 DURING THE LAST CALENDAR MONTH

<TABLE>
<CAPTION>

REPORT FOR CALENDAR MONTH ENDING: December 1996
NAME OF REGISTERED CLOSED-END INVESTMENT COMPANY:  Putnam Master Intermediate Income Trust


Date of	Identification	Number of	Price Per	Approximate Asset Value	Name of Seller or
Each	of Security	Shares	Share	or Approximate Asset	of Seller's Broker
Transaction		Purchased		Coverage per Share at
				Time of Purchase
<C>	<C>	<C>	<C>	<C>	<C>
12/10/96	746909100	17,000	7.625	8.70	Smith Barney
12/11/96	746909100	17,000	7.625	8.70	Smith Barney 
12/17/96	746909100	16,000	7.625	8.68	Smith Barney
12/19/96	746909100	16,000	7.625	8.62	Smith Barney
12/30/96	746909100	17,500	7.625	8.68	Smith Barney
12/31/96	746909100	17,500	7.625	8.69	Smith Barney


				PUTNAM MASTER INTERMEDIATE INCOME TRUST
				Name of Registrant

				By: /s/ Charles E. Porter
				Title: Executive Vice President
</TABLE>				Date: January 6, 1997



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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