-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001205984-03-000002.txt : 20030124
<SEC-HEADER>0001205984-03-000002.hdr.sgml : 20030124
<ACCEPTANCE-DATETIME>20030124112443
ACCESSION NUMBER:		0001205984-03-000002
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030115
FILED AS OF DATE:		20030124

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VERANI  JOHN R
		CENTRAL INDEX KEY:			0001205984
		RELATIONSHIP:				OFFICER

	FILING VALUES:
		FORM TYPE:		5

	MAIL ADDRESS:	
		STREET 1:		C/O PUTNAM LLC
		STREET 2:		ONE POST OFFICE SQ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM HIGH BOND FUND
		CENTRAL INDEX KEY:			0000810943
		IRS NUMBER:				046562068
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05133
		FILM NUMBER:		03523466

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		STREET 2:		MAILSTOP A 14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		8002251581

	MAIL ADDRESS:	
		STREET 1:		PUTNAM LLC
		STREET 2:		ONE POST OFFICE SQ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH INCOME CONVERTIBLE & BOND FUND
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>jrvpcf.txt
<TEXT>
FORM 5

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

( x )	Check box if no longer subject to					OMB APPROVAL
Section 16. Form 4 or Form 5 obligations			OMB Number:	3235-0287
may continue. See Instruction 1(b)	Estimated average burden
(  )Form 3 Holdings Reported	of Hours per response:0.5
(  )Form 4 Transactions Reported

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
30(f) of the Investment Company Act of 1940.

1.	Name and Address of Reporting Person:

		John R. Verani
		Putnam, LLC
		One Post Office Square
		Boston, Massachusetts 02109

2.	Issuer Name and Ticker or Trading Symbol:

Putnam High Income Bond Fund [PCF]

3.	I.R.S. Identification Number of Reporting Person, if an entity
(Voluntary):

4.	Statement for Month/Day/Year:	January 15, 2003

5.	If Amendment, Date of Original (Month/Year):

6.	Relationship of Reporting Person(s) to Issuer (Check all applicable):

(  )	Director									(	)	10% Owner
(x )	Officer (give officer title below)		(	)	Other (specify below)

Vice President

7.	Individual or Joint/Group Filing (Check applicable line):

(x)	Form filed by One Reporting Person	( )	Form filed by More than One
													Reporting Person

If the form is filed by more than one reporting person, see Instruction
4(b)(v)

Table I:	Non-Derivative Securities Acquired, Disposed of, or Beneficially
Owned

1.	Title of Security (Instr. 3):		N/A

2.	Transaction Date:	Month/Day/Year

3.	Transaction Code (Instr. 8):
			Code:		V:

4.	Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5):
		Amount:	(A) or (D):		Price:


(Page 1 of Two Pages)



5.	Amount of Securities Beneficially Owned At End of Issuer's Fiscal Year
(Instr. 3 and 4):

6.	Ownership Form:  Direct (D) or Indirect (I) (Instr. 4):

7.	Nature of Indirect Beneficial Ownership (Instr. 4)


Table II:	 Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible securities)

1.	Title of Derivative Security (Instr. 3):		N/A

2.	Conversion or Exercise Price of Derivative Security:

3.	Transaction Date:		Month/Day/Year:

4.	Transaction Code (Instr. 8):	Code:		V:

5.	Number of Derivative Securities Acquired (A) or Disposed of(D) (Instr.
3, 4 and 5):
		(A) or (D):

6.	Date Exercisable and Expiration Date (Month/Day/Year):
		Date Exercisable:			Expiration Date:

7.	Title and Amount of Underlying Securities (Instr. 3 and 4):
		Title:					Amount or Number of Shares:

8. Price of Derivative Security (Instr. 5):

9. Number of Derivative Securities Beneficially Owned at End of Year
(Instr. 4):

10.Ownership Form of Derivative Security:  Direct (D) or Indirect (I)
(Instr. 4):

11.Nature of Indirect Beneficial Ownership (Instr. 4):
Explanation of Responses, if any:




- ---------------------------------------------------------------------
Signed on behalf of the above Officer pursuant to the attached
Confirming Statement.


By:  	Andrew J. Hachey
Vice President
 			Putnam Investments Legal and Compliance Department

Date:	January 24, 2003



(Page 2 of 2 Pages)

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.14 OTH CONSENT
<SEQUENCE>3
<FILENAME>jrvsign.txt
<DESCRIPTION>CONFIRMING STATEMENT
<TEXT>


Confirming Statement

I, as Reporting Person of Putnam Investment Management, LLC and/or
Putnam, LLC, the Issuer's Investment Adviser and Indirect Parent
Holding Company, respectively, hereby authorize and designate each and
every Managing Director, Senior Vice President and Vice President in
the Putnam Investments Legal and Compliance Department to file SEC
Exchange Act Forms 3, 4 or 5 on my behalf until further notice in
electronic format pursuant to Rule 101(b)(4) of Regulation S-T.

- ---------------------------

/s/  John R. Verani

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