<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>auditletter074.txt
<TEXT>
Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Trustees of
Putnam Master Intermediate Income Trust

In planning and performing our audit of the financial statements
of the Putnam Master Intermediate Income Trust, as of and for the
year ended September 30, 2005, in accordance with the standards
of the Public Company Accounting Oversight Board (United States),
we considered its internal control over financial reporting,
including control activities for safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N SAR, but not for the purpose of
expressing an opinion on the effectiveness of the Putnam Master
Intermediate Income Trusts internal control over financial
reporting.  Accordingly, we express no such opinion.

The management of the Putnam Master Intermediate Income Trust is
responsible for establishing and maintaining effective internal
control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. A companys internal control over financial reporting is
a process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with
U.S. generally accepted accounting principles. Such internal
control includes policies and procedures that provide reasonable
assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of a companys assets
that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.

A control deficiency exists when the design or operation of a
control does not allow management or employees, in the normal
course of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A significant deficiency
is a control deficiency, or combination of control deficiencies,
that adversely affects the companys ability to initiate,
authorize, record, process or report financial data reliably in
accordance with U.S. generally accepted accounting principles
such that there is more than a remote likelihood that a
misstatement of the companys annual or interim financial
statements that is more than inconsequential will not be
prevented or detected. A material weakness is a significant
deficiency, or combination of significant deficiencies, that
results in more than a remote likelihood that a material
misstatement of the annual or interim financial statements will
not be prevented or detected.

Our consideration of the Putnam Master Intermediate Income Trusts
internal control over financial reporting was for the limited
purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control that
might be significant deficiencies or material weaknesses under
standards established by the Public Company Accounting Oversight
Board (United States). However, we noted no deficiencies in the
Putnam Master Intermediate Income Trusts internal control over
financial reporting and its operation, including controls for
safeguarding securities that we consider to be a material
weakness as defined above as of September 30, 2005.

This report is intended solely for the information and use of
management and the Board of Trustees of the Putnam Master
Intermediate Income Trust 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/ KPMG LLP


November 8, 2005




</TEXT>
</DOCUMENT>
