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Putnam Investments Names Firm Veteran Darren Jaroch Portfolio Manager of Putnam Equity Income Fund

Putnam Investments today named Darren A. Jaroch, CFA, Portfolio Manager of Putnam Equity Income Fund (PEYAX), replacing Bartlett R. Geer, who will be leaving the firm to pursue other opportunities.

Jaroch has been with Putnam since 1999, during which time he has strived to produce strong performance records, while managing Putnam International Value Fund, global and international equity institutional portfolios. He previously managed Putnam Global Equity Fund.

Jaroch has been a long-time portfolio manager of Putnam International Value Fund (PNGAX), which ranked in the top 7% in its Lipper category, International Large-Cap Value Funds, for 3-year performance, as of July 31, 2012. Jaroch will continue to manage this fund, as well as his existing international and global institutional portfolios.

“Under Darren’s stewardship, Putnam Equity Income Fund will continue to provide advisors and their clients with a compelling, value-oriented investment product, that includes a strong dividend-paying component to help them pursue their long-term investment goals,” said Walter C. Donovan, Chief Investment Officer, Putnam Investments.

“As a firm, we are committed to developing and cultivating our deep bench of in-house investment talent to address the complex challenges of the current market environment,” continued Donovan. Since joining Putnam in 1999, Darren has continued to assume additional management responsibilities, proving himself through his solid investment performance results.”

Donovan noted that Jaroch will be supported by the considerable resources of Putnam’s U.S. Equities organization, as well as an Assistant Portfolio Manager on each fund, to be named at a later date.

In reference to Geer’s departure, Donovan explained, “We appreciate the many contributions Bart made to Putnam over the years and wish him all the best.”

About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money management firm with nearly 75 years of investment experience. At the end of July 2012, Putnam had $122 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Amsterdam, Beijing, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

Putnam Media Contacts:
Jon Goldstein – 617-760-1127; jon_goldstein@putnam.com
Laura McNamara – 617-760-1108; laura_mcnamara@putnam.com

Request a prospectus, or a summary prospectus if available, from your financial representative or by calling Putnam at 1-800-225-1581. The prospectus includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.

Putnam International Value Fund
Lipper rankings as of 7/31/12
Category: International large-cap value funds

Class A shares
Inception 8/1/96
Before sales charge
1 year 11% (9/87)
3 years 7% (5/78)
5 years 67% (41/61)
10 years 60% (21/34)

Putnam International Value Fund
Annualized total return performance as of 6/30/12

Class A shares
Inception 8/1/96
Before sales charge
1 year -14.26%
3 years 6.18
5 years -8.57
10 years 3.84

Total expense ratio: 1.37%

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or a loss when you sell your shares. Performance of class A shares is shown before sales charge, assumes reinvestment of distributions and does not account for taxes. Had the 5.75% sales charge been reflected returns would have been lower. For a portion of the periods, the fund had expense limitations, without which returns would have been lower. A short-term trading fee of 1% may apply to redemptions or exchanges from certain funds within the time period specified in the fund’s prospectus. To obtain the most recent month-end performance, visit www.putnam.com.

Lipper rankings for class A shares are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.

All funds have risk, and you can lose money. See the fund's prospectus for details.