Company Press Release

Putnam Investments Launches Network TV Ad Campaign

BOSTON, MA--(December 3, 2010) - Putnam Investments today announced it will kick off a network television advertising campaign related to its exclusive sponsorship of the U.S. Ski Team and U.S. Snowboarding. Putnam's partnership, which runs for the next four seasons, will help support young American athletes in the sports of alpine, freestyle, and cross-country skiing; ski jumping; snowboarding; and Nordic combined as they prepare for the next Olympics in Sochi, Russia, in 2014.

The ad campaign will debut on NBC, Sunday, December 5, during the World Cup downhill races at Beaver Creek, Colorado. It marks the first TV advertising by Putnam under the leadership of President and Chief Executive Officer Robert L. Reynolds. "We feel a direct connection between the drive and determination of these athletes and the commitment to excellence we share at Putnam Investments," said Reynolds. "Ours is a performance-driven and integrity-based business, and we hope to convey that spirit in our new campaign."

The two ads that air beginning December 5 feature Olympic Gold Medalist Ted Ligety in extreme slow motion as he banks a turn and completes a jump. "We chose to slow these scenes down to emphasize the tremendous effort and focus that goes into every facet of these competitions," said Reynolds. "What these elite athletes make look so easy requires years of hard work and discipline. It is the realization of a worthwhile goal achieved painstakingly over time. At Putnam, we believe that is an appropriate metaphor for the pursuit of one's financial goals. It's what our portfolio managers strive to do every day as they work to deliver performance to our clients."

The new campaign is designed to complement Putnam's existing online, social media, and print advertising strategy, which has focused primarily on showcasing the success of Putnam's team of portfolio managers and analysts in addressing critical investor needs, such as income, growth, and volatility reduction.

The TV ads, which will also be aired on December 11 and 18 on Versus, can be viewed on Putnam's Web site at putnam.com/USSA later today.

U.S. Ski Team and U.S. Snowboarding athletes were highly successful at last February's Olympic Games, leaving Vancouver with a record 21 medals, including six gold medals, more than doubling the previous record of 10 medals in 2002. The synergy of matching two performance-driven organizations such as U.S. Ski Team and U.S. Snowboarding was one of the primary reasons Putnam entered into the partnership. "We believe these athletes are outstanding ambassadors for Putnam, and we know they'll be competing to win all the way to Russia," said Reynolds.

About the sponsorship
The sponsorship is a natural progression stemming from Putnam's connecting its brand to "performance in motion" activities over the past two years, including sponsoring Ligety individually, and equestrian events in the Greater Boston area.

Under the terms of the partnership, Putnam Investments is an official sponsor of both the U.S. Ski Team and U.S. Snowboarding. Putnam's logo will appear on the uniforms of the U.S. alpine, freestyle, and Nordic teams. Putnam also will engage with key U.S. events, including associate sponsorship of one of the team's biggest marquee events, the Audi Birds of Prey Race Week World Cup at Beaver Creek, Colorado, on December 3-5, 2010. The partnership will extend across the next four World Cup seasons and through the XXII Winter Olympic Games in Sochi, Russia, in 2014.

About Putnam
Founded in 1937, Putnam Investments is a leading global money management firm with over 70 years of investment experience. In 2010, the firm was named "Mutual Fund Manager of the Year" by Institutional Investor. At the end of September 2010, Putnam had $120 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Amsterdam, Tokyo, Singapore, and Sydney. For more information, visit putnam.com.

Putnam mutual funds are distributed by Putnam Retail Management.

About U.S. Ski Team and U.S. Snowboarding The U.S. Ski Team and U.S. Snowboarding, as part of the U.S. Ski and Snowboard Association (USSA), develop and maintain teams of world-class athletes for national and international competition, including the Olympic Winter Games. The U.S. Ski Team and U.S. Snowboarding select teams in all sports for major events such as the Olympics and World Championships as well as annual teams in many Olympic disciplines. The organization coordinates nationwide development and elite programs for all competitive skiing sports while maintaining a strong adherence to core values. For more information, visit usskiteam.com or ussnowboarding.com.