<DOCUMENT>
<TYPE>EX-99.16 PWR OF ATTY
<SEQUENCE>12
<FILENAME>exnnst12.txt
<DESCRIPTION>EX-99.16 PWR OF ATTY
<TEXT>

EXHIBIT 11.

POWER OF ATTORNEY

I, the undersigned Principal Executive Officer of each of the funds
listed on Schedule A hereto, hereby severally constitute and appoint
John A. Hill, George Putnam III, Jonathan S. Horwitz, John W. Gerstmayr,
Bryan Chegwidden and James P. Pappas, and each of them singly, my true
and lawful attorneys, with full power to them and each of them, to sign
for me, and in my name and in the capacities indicated below, the
Registration Statements on Form N-1A, Form N-2 or Form N-14 of each of
the funds listed on Schedule A hereto and any and all amendments
(including post-effective amendments) and to file the same with all
exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto my said attorneys, and
each of them acting alone, full power and authority to do and perform
each and every act and thing requisite or necessary to be done in the
premises, as fully to all intents and purposes as he might or could do
in person, and hereby ratify and confirm all that said attorneys or any
of them may lawfully do or cause to be done by virtue thereof.

WITNESS my hand and seal on the date set forth below.

Signature                 Title                            Date

/s/ Charles E. Porter     Executive Vice President,        September 16, 2004
---------------------     Associate Treasurer and
Charles E. Porter         Principal Executive Officer

Schedule A
Putnam High Income Bond Fund
Putnam High Income Opportunities Trust
Putnam Master Income Trust
Putnam Premier Income Trust


POWER OF ATTORNEY

We, the undersigned Officers of each of the funds listed on Schedule A
hereto, hereby severally constitute and appoint John A. Hill, George
Putnam III, Charles E. Porter, Jonathan S. Horwitz, John W. Gerstmayr,
Bryan Chegwidden and James P. Pappas, and each of them singly, our true
and lawful attorneys, with full power to them and each of them, to sign
for us, and in our names and in the capacities indicated below, the
Registration Statements on Form N-1A, Form N-2 or Form N-14 of each of
the funds listed on Schedule A hereto and any and all amendments
(including post-effective amendments) and to file the same with all
exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto my said attorneys, and
each of them acting alone, full power and authority to do and perform
each and every act and thing requisite or necessary to be done in the
premises, as fully to all intents and purposes as he might or could do
in person, and hereby ratify and confirm all that said attorneys or any
of them may lawfully do or cause to be done by virtue thereof.

WITNESS my hand and seal on the date set forth below.

Signature                  Title                         Date

/s/ Steven D. Krichmar     Vice President and Principal  September 17, 2004
---------------------      Financial Officer
Steven D. Krichmar

/s/ Michael T. Healy       Assistant Treasurer and       September 21, 2004
---------------------      Principal Accounting
Michael T. Healy           Officer


Schedule A
Putnam High Income Bond Fund
Putnam High Income Opportunities Trust
Putnam Master Income Trust
Putnam Premier Income Trust


POWER OF ATTORNEY

We, the undersigned Trustees of each of the funds listed on Schedule A
hereto, hereby severally constitute and appoint John A. Hill, George
Putnam III, Charles E. Porter, Jonathan S. Horwitz, John W. Gerstmayr,
Bryan Chegwidden and James P. Pappas, and each of them singly, our true
and lawful attorneys, with full power to them and each of them, to sign
for us, and in our names and in the capacities indicated below, the
Registration Statements on Form N-1A, Form N-2 or Form N-14 of each of
the funds listed on Schedule A hereto and any and all amendments
(including post-effective amendments) and to file the same with all
exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto our said attorneys,
and each of them acting alone, full power and authority to do and
perform each and every act and thing requisite or necessary to be done
in the premises, as fully to all intents and purposes as he might or
could do in person, and hereby ratify and confirm all that said
attorneys or any of them may lawfully do or cause to be done by virtue
thereof.

WITNESS my hand and seal on the date set forth below.

Signature                     Title                         Date

/s/ John A. Hill              Chairman of the Board;        September 16, 2004
-----------------------       Trustee
John A. Hill

/s/ George Putnam, III        President; Trustee            September 17, 2004
-----------------------
George Putnam, III

/s/ Jameson A. Baxter         Trustee                       September 16, 2004
-----------------------
Jameson A. Baxter

/s/ Charles B. Curtis         Trustee                       September 20, 2004
-----------------------
Charles B. Curtis

/s/ Ronald J. Jackson         Trustee                       September 17, 2004
-----------------------
Ronald J. Jackson

/s/ Paul L. Joskow            Trustee                       September 15, 2004
-----------------------
Paul L. Joskow

                              Trustee
-----------------------
Elizabeth T. Kennan

                              Trustee
-----------------------
John H. Mullin, III

/s/ Robert E. Patterson       Trustee                       September 20, 2004
-----------------------
Robert E. Patterson

/s/ A.J.C. Smith              Trustee                       September 17, 2004
-----------------------
A.J.C. Smith

/s/ W. Thomas Stephens        Trustee                       September 17, 2004
-----------------------
W. Thomas Stephens

Schedule A
Putnam High Income Bond Fund
Putnam High Income Opportunities Trust
Putnam Master Income Trust
Putnam Premier Income Trust

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</DOCUMENT>
