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FOR IMMEDIATE RELEASE
CONTACT: Sinead Martin Nancy Fisher
Putnam Investments Putnam Investments
617-760-8515 617-760-1608
SHAREHOLDERS OF PUTNAM HIGH INCOME OPPORTUNITIES TRUST AND PUTNAM HIGH
INCOME BOND FUND APPROVE MERGER
BOSTON, Massachusetts (January 13, 2005) - At a special meeting of
shareholders of Putnam High Income Opportunities Trust (NYSE: PCV) and
Putnam High Income Bond Fund (NYSE: PCF), each a closed-end bond fund, the
shareholders of each fund today approved the merger of High Income
Opportunities Trust into High Income Bond Fund. The voting results
tabulated as of the meeting time were as follows:
Merger of Putnam High Income Opportunities Trust and Putnam High Income Bond
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Putnam High Income Opportunities Trust No. of Shares % shares voted
For 1,820,046.692 92.059%
Against 91,226.992 4.614%
Abstain 65,768.544 3.327%
Putnam High Income Bond Fund No. of Shares % shares voted
For 6,962,085.036 89.307%
Against 524,286.312 6.725%
Abstain 309,331.507 3.968%
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January 13, 2005
The transaction is currently expected to close on or about January 24,
2005, subject to the satisfaction of certain conditions. In the
transaction, the shareholders of Putnam High Income Opportunities Trust
will receive Putnam High Income Bond Fund shares with an equal net asset
value to the Putnam High Income Opportunities Trust shares held.
About Putnam Investments: Founded in 1937, Putnam Investments is one of
the nation's oldest and largest money management firms. As of December
31, 2004, Putnam had nearly 5,000 employees and managed $213 billion for
approximately 11 million individual shareholders accounts and nearly 300
institutional clients. Putnam has headquarters in Boston and offices in
London and Tokyo. For more information, go to
www.putnaminvestments.com.
The foregoing is not an offer to sell, nor a solicitation of an offer to
buy, shares of any fund, nor is it a solicitation of a proxy. To receive
a free copy of the prospectus/proxy statement relating to the proposed
merger (which contains important information about fees, expenses and
risk considerations), please call 1-800-225-1581. The prospectus/proxy
statement is also available without charge on the SEC's website
(www.sec.gov). Read the prospectus/proxy statement carefully before
making any investment decisions.
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