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Putnam Announces Dividend Rates for Open-End Funds

BOSTON, MA -- (Marketwire) -- 12/27/12 -- The Trustees of The Putnam Funds declare the following distributions today.

                                                       RECORD     PAYMENT
                                                       ---------- ----------
FUND NAME AND DISTRIBUTIONS                            DATE       DATE
------------------------------------------------------ ---------- ----------

Putnam Global Sector Fund - Class B Shares (PPGBX)
$0.0320 per share investment income                    12/27/2012 12/28/2012
$0.4840 per share long term capital gain
$0.5160 per share total

Putnam Global Sector Fund - Class C Shares (PPGCX)
$0.0220 per share investment income                    12/27/2012 12/28/2012
$0.4840 per share long term capital gain
$0.5060 per share total

Putnam Global Sector Fund - Class M Shares (PPGMX)
$0.0530 per share investment income                    12/27/2012 12/28/2012
$0.4840 per share long term capital gain
$0.5370 per share total

Putnam Global Sector Fund - Class R Shares (PPGSX)
$0.0850 per share investment income                    12/27/2012 12/28/2012
$0.4840 per share long term capital gain
$0.5690 per share total

Putnam Global Sector Fund - Class Y Shares (PPGYX)
$0.1350 per share investment income                    12/27/2012 12/28/2012
$0.4840 per share long term capital gain
$0.6190 per share total

Putnam Retirement Ready 2015 Fund - Class B Shares (a)
$0.1950 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2015 Fund - Class C Shares (a)
$0.1780 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2015 Fund - Class M Shares (a)
$0.2460 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2015 Fund - Class R Shares (a)
$0.2890 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2015 Fund - Class Y Shares
 (PRRLX)
$0.3710 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2020 Fund - Class B Shares (a)
$0.2320 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2020 Fund - Class C Shares (a)
$0.2260 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2020 Fund - Class M Shares (a)
$0.2450 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2020 Fund - Class R Shares (a)
$0.2950 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2020 Fund - Class Y Shares
 (PRRNX)
$0.3770 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2025 Fund - Class B Shares (a)
$0.1470 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2025 Fund - Class C Shares (a)
$0.1420 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2025 Fund - Class M Shares (a)
$0.2180 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2025 Fund - Class R Shares (a)
$0.2270 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2025 Fund - Class Y Shares
 (PRRPX)
$0.3100 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2030 Fund - Class B Shares (a)
$0.0500 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2030 Fund - Class C Shares (a)
$0.0600 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2030 Fund - Class M Shares (a)
$0.0890 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2030 Fund - Class R Shares (a)
$0.1340 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2030 Fund - Class Y Shares
 (PRRTX)
$0.2090 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2035 Fund - Class B Shares (a)
$0.1010 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2035 Fund - Class C Shares (a)
$0.1200 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2035 Fund - Class M Shares (a) 12/27/2012 12/28/2012
$0.1420 per share investment income

Putnam Retirement Ready 2035 Fund - Class R Shares (a)
$0.1760 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2035 Fund - Class Y Shares
 (PRRYX)
$0.2470 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2040 Fund - Class B Shares (a)
$0.2150 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2040 Fund - Class C Shares (a)
$0.2180 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2040 Fund - Class M Shares (a)
$0.2700 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2040 Fund - Class R Shares (a)
$0.2710 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2040 Fund - Class Y Shares
 (PRZZX)
$0.3440 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2045 Fund - Class B Shares (a)
$0.3040 per share investment income                    12/27/2012 12/28/201

2

Putnam Retirement Ready 2045 Fund - Class C Shares (a)
$0.3440 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2045 Fund - Class M Shares (a)
$0.3350 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2045 Fund - Class R Shares (a)
$0.3480 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2045 Fund - Class Y Shares
 (PRVYX)
$0.4180 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2050 Fund - Class B Shares (a)
$0.0710 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2050 Fund - Class C Shares (a)
$0.0920 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2050 Fund - Class M Shares (a)
$0.1000 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2050 Fund - Class R Shares (a)
$0.1420 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2050 Fund - Class Y Shares (a)
$0.1970 per share investment income                    12/27/2012 12/28/2012

Putnam Retirement Ready 2055 Fund - Class B Shares (a)
$0.1490 per share investment income                    12/27/2012 12/28/2012
$0.0450 per share long term capital gain
$0.1940 per share total

Putnam Retirement Ready 2055 Fund - Class C Shares (a)
$0.1340 per share investment income                    12/27/2012 12/28/2012
$0.0450 per share long term capital gain
$0.1790 per share total

Putnam Retirement Ready 2055 Fund - Class M Shares (a)
$0.1420 per share investment income                    12/27/2012 12/28/2012
$0.0450 per share long term capital gain
$0.1870 per share total

Putnam Retirement Ready 2055 Fund - Class R Shares (a)
$0.1680 per share investment income                    12/27/2012 12/28/2012
$0.0450 per share long term capital gain
$0.2130 per share total

Putnam Retirement Ready 2055 Fund - Class Y Shares (a)
$0.2160 per share investment income                    12/27/2012 12/28/2012
$0.0450 per share long term capital gain
$0.2610 per share total

Putnam California Tax Exempt Income Fund - Class B
 Shares (PCTBX)
$0.0024 per share extra taxable income                 12/27/2012 12/31/2012

Putnam California Tax Exempt Income Fund - Class C
 Shares (PCTCX)
$0.0024 per share extra taxable income                 12/27/2012 12/31/2012

Putnam California Tax Exempt Income Fund - Class M
 Shares (PCLMX)
$0.0024 per share extra taxable income                 12/27/2012 12/31/2012

Putnam California Tax Exempt Income Fund - Class Y
 Shares (PCIYX)
$0.0024 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Massachusetts Tax Exempt Income Fund - Class B
 Shares (PMABX)
$0.0094 per share extra taxable income                 12/27/2012 12/31/2012
$0.0034 per share short-term capital gain
$0.0058 per share long-term capital gain
$0.0186 per share total

Putnam Massachusetts Tax Exempt Income Fund - Class C
 Shares (PMMCX)
$0.0094 per share extra taxable income                 12/27/2012 12/31/2012
$0.0034 per share short-term capital gain
$0.0058 per share long-term capital gain
$0.0186 per share total

Putnam Massachusetts Tax Exempt Income Fund - Class M
 Shares (PMAMX)
$0.0094 per share extra taxable income                 12/27/2012 12/31/2012
$0.0034 per share short-term capital gain
$0.0058 per share long-term capital gain
$0.0186 per share total

Putnam Massachusetts Tax Exempt Income Fund - Class Y
 Shares (PMAYX)
$0.0094 per share extra taxable income                 12/27/2012 12/31/2012
$0.0034 per share short-term capital gain
$0.0058 per share long-term capital gain
$0.0186 per share total

Putnam New York Tax Exempt Income Fund - Class B
 Shares (PEIBX)
$0.0002 per share extra taxable income                 12/27/2012 12/31/2012

Putnam New York Tax Exempt Income Fund - Class C
 Shares (PNNCX)
$0.0002 per share extra taxable income                 12/27/2012 12/31/2012

Putnam New York Tax Exempt Income Fund - Class M
 Shares (PNYMX)
$0.0002 per share extra taxable income                 12/27/2012 12/31/2012

Putnam New York Tax Exempt Income Fund - Class Y
 Shares (PNYYX)
$0.0002 per share extra taxable income                 12/27/2012 12/31/2012

Putnam New Jersey Tax Exempt Income Fund - Class B
 Shares (PNJBX)
$0.0006 per share extra taxable income                 12/27/2012 12/31/2012

Putnam New Jersey Tax Exempt Income Fund - Class C
 Shares (PNJCX)
$0.0006 per share extra taxable income                 12/27/2012 12/31/2012

Putnam New Jersey Tax Exempt Income Fund - Class M
 Shares (PNJMX)
$0.0006 per share extra taxable income                 12/27/2012 12/31/2012

Putnam New Jersey Tax Exempt Income Fund - Class Y
 Shares (PNJYX)
$0.0006 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Pennsylvania Tax Exempt Income Fund - Class B
 Shares (PPNBX)
$0.0007 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Pennsylvania Tax Exempt Income Fund - Class C
 Shares (PPNCX)
$0.0007 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Pennsylvania Tax Exempt Income Fund - Class M
 Shares (PPAMX)
$0.0007 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Pennsylvania Tax Exempt Income Fund - Class Y
 Shares (PPTYX)
$0.0007 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Short Duration Income Fund - Class B Shares
 (PSDBX)
$0.0009 per share short-term capital gain              12/27/2012 12/31/2012

Putnam Short Duration Income Fund - Class C Shares
 (PSDLX)
$0.0009 per share short-term capital gain              12/27/2012 12/31/2012

Putnam Short Duration Income Fund - Class M Shares
 (PSDGX)
$0.0009 per share short-term capital gain              12/27/2012 12/31/2012

Putnam Short Duration Income Fund - Class R Shares
 (PSDRX)
$0.0009 per share short-term capital gain              12/27/2012 12/31/2012

Putnam Short Duration Income Fund - Class Y Shares
 (PSDYX)
$0.0009 per share short-term capital gain              12/27/2012 12/31/2012

Putnam Short Duration Income Fund - Class R5 Shares
 (PSDKX)
$0.0009 per share short-term capital gain              12/27/2012 12/31/2012

Putnam Short Duration Income Fund - Class R6 Shares
 (PSDQX)
$0.0009 per share short-term capital gain              12/27/2012 12/31/2012

Putnam Tax Exempt Income Fund - Class B Shares (PTBEX)
$0.0005 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Tax Exempt Income Fund - Class C Shares (PTECX)
$0.0005 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Tax Exempt Income Fund - Class M Shares (PTXMX)
$0.0005 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Tax Exempt Income Fund - Class Y Shares (PTEYX)
$0.0005 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Tax-Free High Yield Fund - Class B Shares
 (PTHYX)
$0.0084 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Tax-Free High Yield Fund - Class C Shares
 (PTCCX)
$0.0084 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Tax-Free High Yield Fund - Class M Shares
 (PTYMX)
$0.0084 per share extra taxable income                 12/27/2012 12/31/2012

Putnam Tax-Free High Yield Fund - Class Y Shares
 (PTFYX)
$0.0084 per share extra taxable income                 12/27/2012 12/31/2012


SECTION 19 DISCLOSURE
Retirement Ready 2055 Fund
As of December 18, 2012, the fund had net realized and unrealized losses of $0.246 per share, of which $0.270 represents unrealized depreciation of portfolio securities.

Additional disclosure:
If a fund's dividend included an estimated distribution such as a return of capital or capital gain: For the purposes of this disclosure, a fund's dividend sources are determined in accordance with accounting principles, which may vary from federal tax treatment. The sources of dividends are estimated at the time of declaration. Actual results may vary. Any non-taxable return of capital cannot be determined until after the end of the fund's fiscal year. In January 2013, you will receive information as to the federal tax status of this and other distributions from the fund in the preceding calendar year.

Shareholders Contact:
1-800-225-1581

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