PYM Putnam High Yield Mun Tr

Putnam Investments announced today that the 2006 annual shareholder meetings for the 12 Putnam closed-end funds will be held as follows: -0- *T June 2006 Shareholder Meetings ------------------------------- Putnam High Income Securities Fund (PCF) Putnam Investment Grade Municipal Trust (PGM) Putnam Managed High Yield Trust (PTM) Putnam Managed Municipal Income Trust (PMM) Putnam Master Intermediate Income Trust (PIM) Putnam Premier Income Trust (PPT) Putnam Tax-Free Health Care Fund (PMH) September 2006 Shareholder Meetings ----------------------------------- Putnam California Investment Grade Municipal Trust (PCA) Putnam High Yield Municipal Trust (PYM) Putnam Municipal Bond Fund (PMG) Putnam Municipal Opportunities Trust (PMO) Putnam New York Investment Grade Municipal Trust (PMN) *T For several of the Putnam closed-end funds, the anticipated 2006 shareholder meeting dates represent an acceleration by several months from shareholder meeting dates in recent years and the dates disclosed in the 2005 proxy statements. Putnam Investments and the Trustees of the funds have agreed to this accelerated schedule to provide for shareholder meetings sooner following the end of the funds' respective fiscal year-ends. For some of the funds, this would allow shareholders to vote sooner on required proposals to convert the funds to open-end status that have been or might be triggered at fiscal year-end. The open-ending proposal has been triggered for 2006 for Putnam Investment Grade Municipal Trust, Putnam Master Intermediate Income Trust and Putnam Premier Income Trust. In recent years, shareholders of Putnam closed-end funds have consistently voted to defeat similar open-ending proposals by substantial margins. Putnam and the Trustees expect that the shareholder meeting schedule for 2007 will reflect further acceleration of the shareholder meetings for a number of the funds. Because the first set of 2006 shareholder meetings is significantly earlier in the year than in previous years for four funds, the deadlines for submitting shareholder proposals as stated in the 2005 proxy statements for those funds have been changed. These four funds are: Putnam Investment Grade Municipal Trust (PGM), Putnam Managed High Yield Trust (PTM), Putnam Managed Municipal Income Trust (PMM) and Putnam Tax-Free Health Care Fund (PMH). The deadlines for the other Putnam closed-end funds remain as announced in the 2005 proxy statements. The new deadlines for submitting shareholder proposals for inclusion in the 2006 proxy statements for these four funds are as follows: -0- *T February 10, 2006 ----------------- Putnam Managed Municipal Income Trust February 28, 2006 ----------------- Putnam Investment Grade Municipal Trust Putnam Managed High Yield Trust Putnam Tax-Free Health Care Fund *T The most recent shareholder reports for these funds will include additional information relating to the submission of shareholder proposals for the 2006 shareholder meetings. The exact dates of the shareholder meeting and the applicable record dates for all 12 funds will be announced when formally approved by the Trustees of the funds, and may be earlier or later than indicated above. About Putnam Investments: Founded in 1937, Putnam Investments is one of the nation's oldest and largest money management firms. As of December 31, 2005, Putnam managed $189 billion assets, mutual fund assets were $126 billion and institutional assets were $63 billion. Putnam has offices in Boston, London and Tokyo. For more information, go to www.putnaminvestments.com.