Putnam Investments Wins DALBAR Service Awards for the 2Oth Year; Retains Role as Veteran Industry Leader in Service Excellence

Putnam Investments has been honored for the 20th consecutive year with the DALBAR Service Awards, winning five awards in total for 2009, including the Mutual Fund Service Award for service to shareholders, the Annuity Service Award for exceptional service to annuity contract holders, and the Financial Intermediary Service Award for quality service to advisors, both pre- and post-sale.

This year’s awards mark the 11th year that Putnam has won the “triple crown” for top quality service in each of the three DALBAR categories - an accomplishment unrivaled in the mutual fund industry.

“Putnam’s operations and service teams, led by Steve Krichmar, continue to set industry standards for excellence, helping to lay a critical foundation for the firm’s future success,” said Putnam President and Chief Executive Officer Robert L. Reynolds. “We are proud of our culture of second-to-none customer service and are pleased to see that legacy recognized once again through the DALBAR Service Awards.”

The DALBAR Service Award symbolizes the achievement of the highest tier of service to customers within the financial services industry. It is awarded only to those firms that exceed industry norms in key service areas. Putnam has received DALBAR awards for providing the highest level of customer service to clients for twenty consecutive years, since 1990.

Putnam Investments was also recently recognized for outstanding service by the third-party quality service evaluator, National Quality Review (NQR), earning a 5-star rating in the third quarter of 2009. To achieve the 5-star rating, Putnam had to average a 98.3% overall accuracy standard over a four-quarter rolling period. NQR evaluated Putnam's transaction processing such as cash investments, redemptions, new accounts, exchanges, account maintenance, and transfers.

Under Reynolds leadership, Putnam Investments has focused on strengthening investment performance, industry innovation -- including new products and platforms-- and further development of its retirement products and services. Progress has been demonstrated by an improvement in investment performance across all asset categories, the launch of innovative new products (including the industry’s first suite of target Absolute Return Funds), the revitalization of the firm’s brand, trailblazing new Web-based tools and the use of social media, and an overall strengthening of talent in key roles.

About Putnam Investments: Putnam Investments is a leading global money management firm with over 70 years of investment experience. As of December 2009, Putnam managed $115 billion in assets. Putnam has offices in Boston, London and Tokyo. For more information, go to www.putnam.com.

The DALBAR Service Award symbolizes the achievement of the highest tier of service to customers within the financial services industry. It is awarded only to those firms that exceed industry benchmarks after rigorous systematic testing in key service areas. Over the year, DALBAR evaluates telephone interactions and rigorously evaluates the level of service provided to our clients and advisors. Tests focus on the level of expertise provided to each client as well as evaluating the overall client experience for courtesy and efficiency. The winners of this award can confidently consider themselves service leaders within the financial services industry.

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