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<TYPE>EX-99.16 PWR OF ATTY
<SEQUENCE>6
<FILENAME>exnnst6.txt
<DESCRIPTION>EX-99.16 PWR OF ATTY
<TEXT>

EXHIBIT 5.

POWER OF ATTORNEY


We, the undersigned Trustees of each of the funds listed on Schedule A
hereto, hereby severally constitute and appoint John Hill, George Putnam
III, Charles E. Porter, Jonathan S. Horwitz, Daniel T. Gallagher, John
W. Gerstmayr and Bryan Chegwidden, 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-2 or Form N-14 of each of the funds
listed on Schedule A hereto and any and all amendments (including
post-effective amendments) to said Registration Statements 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/  Myra R. Drucker             Trustee                    October 14, 2004
--------------------
Myra R. Drucker

/s/  Charles E. Haldeman, Jr.    Trustee                    October 14, 2004
-----------------------------
Charles E. Haldeman, Jr.

/s/  Richard B. Worley           Trustee                    October 14, 2004
----------------------
Richard B. Worley


Schedule A

Putnam California Investment Grade Municipal Trust
Putnam High Income Bond Fund
Putnam High Income Opportunities Trust
Putnam High Yield Municipal Trust
Putnam Investment Grade Municipal Trust
Putnam Managed High Yield Trust
Putnam Managed Municipal Income Trust
Putnam Master Income Trust
Putnam Master Intermediate Income Trust
Putnam Municipal Bond Fund
Putnam Municipal Opportunities Trust
Putnam New York Investment Grade Municipal Trust
Putnam Premier Income Trust
Putnam Tax-Free Health Care Fund

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