PPT Putnam Premier Income Trust

Putnam Investments today announced the launch of separate tender offers for the following closed-end funds: Fund Tender offer expiration date Putnam High Income Securities Fund (NYSE: PCF) Expires July 10, 2007 Putnam High Yield Municipal Trust (NYSE: PYM) Expires July 9, 2007 Putnam Investment Grade Municipal Trust (NYSE: PGM) Expires July 9, 2007 Putnam Managed Municipal Income Trust (NYSE: PMM) Expires July 10, 2007 Putnam Master Intermediate Income Trust (NYSE: PIM) Expires July 11, 2007 Putnam Municipal Bond Fund (NYSE: PMG) Expires July 11, 2007 Putnam Municipal Opportunities Trust (NYSE: PMO) Expires July 12, 2007 Putnam Premier Income Trust (NYSE: PPT) Expires July 12, 2007 Specific documentation for each tender offer is being mailed to shareholders of the funds. As indicated above, the expiration dates for the tender offers vary. As previously disclosed in February, each fund is offering to purchase up to 10% of its outstanding common shares for cash at a price per share equal to 98% of the net asset value per share (NAV) as of the expiration date. The tender offers are part of an effort by the Trustees of the Funds to enhance liquidity for fund shareholders. In approving this program, the Trustees considered that tender offers would give shareholders an opportunity to sell at least some of their shares at a price close to NAV, and that the tender offer price of 98% of NAV would help offset the costs that shareholders who retain their shares would otherwise bear in connection with the tender offers. About Putnam Investments: Founded in 1937, Putnam Investments is one of the nation's oldest and largest money management firms. As of April 30, 2007, Putnam managed $192 billion assets. Mutual fund assets were $121 billion. Institutional assets were $71 billion. Putnam has offices in Boston, London, and Tokyo. For more information, go to www.putnam.com.