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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 WEDlp2CqefzEQtliZUCWn6imN5UgomrrVcKkk86LRx/ihAwC/vrejSFx7YhT5xRT
 b7zewvPOBld7+2tNFTKxrw==

<SEC-DOCUMENT>0001067621-08-000020.txt : 20080612
<SEC-HEADER>0001067621-08-000020.hdr.sgml : 20080612
<ACCEPTANCE-DATETIME>20080612125001
ACCESSION NUMBER:		0001067621-08-000020
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20080612
DATE AS OF CHANGE:		20080612
GROUP MEMBERS:		ANDREW DAKOS
GROUP MEMBERS:		BULLDOG INVESTORS
GROUP MEMBERS:		PHILLIP GOLDSTEIN

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM MASTER INTERMEDIATE INCOME TRUST
		CENTRAL INDEX KEY:			0000830622
		IRS NUMBER:				046584465
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-82455
		FILM NUMBER:		08894923

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172921562

	MAIL ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOLDSTEIN PHILLIP
		CENTRAL INDEX KEY:			0001067621

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		9147475262

	MAIL ADDRESS:	
		STREET 1:		60 HERITAGE DRIVE
		CITY:			PLEASANTVILLE
		STATE:			NY
		ZIP:			10570
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>third.txt
<TEXT>
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
6/11/08

1. NAME OF REPORTING PERSON
Bulldog Investors, Phillip Goldstein and Andrew Dakos


2. CHECK THE BOX IF MEMBER OF A GROUP                  a[ ]

                                                       b[ ]

3. SEC USE ONLY

4. SOURCE OF FUNDS
WC


5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e)                        []

6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
________________________________________________________________

7. SOLE VOTING POWER

3,563,500

8. SHARED VOTING POWER

0

9. SOLE DISPOSITIVE POWER

3,563,500
_________________________________________________________

10. SHARED DISPOSITIVE POWER
0

11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON

3,563,500

12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES   []

13. PERCENT OF CLASS REPRESENTED BY ROW 11

4.39%

14. TYPE OF REPORTING PERSON

IA
________________________________________________________________



The following constitutes Amendment # 2 to the Schedule 13d
filed on July 7, 2007. This 13d amends the original 13d as
specifically set forth.


Item 5 is amended as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As per the N-CSRS filed on May 30, 2008, 81,137,030 shares
were outstanding as of March 31, 2008.
The percentages set forth in item 5 was derived
using such number.

Bulldog Investors, Phillip Goldstein and Andrew Dakos
beneficially own an aggregate of 3,563,500 shares of PIM or
4.39% of the outstanding shares.


Power to dispose of and vote securities resides either with Mr.
Goldstein, Mr. Dakos or with clients.


  c)   During the past 60 days the following shares of PIM were
Sold :

Trade Date	Quantity	Price
4/14/08		18,700		$6.18
4/15/08		8,400		$6.20
4/16/08		34,500		$6.17
4/17/08		5,200		$6.18
4/18/08		118,300		$6.19
4/21/08		20,000		$6.21
4/22/08		58,000		$6.24
4/22/08		5,478 (Tender)	$6.64
4/22/08		2,026,811 (Tender) $6.64
4/23/08		8,600		$6.23
5/02/08		8,000		$6.29
5/15/08		6,000		$6.29
5/27/08		8,200		$6.23
5/28/08		13,600		$6.30
5/29/08		2,066		$6.29
5/30/08		9,500		$6.28
6/02/08		14,100		$6.30
6/03/08		4,600		$6.31




  d)   Beneficiaries of managed accounts are
     entitled to receive any dividends or sales proceeds.

  e)   NA


Dated: 6/11/08

By: /s/ Phillip Goldstein
Name:   Phillip Goldstein

By: /s/ Andrew Dakos
Name: Andrew Dakos

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