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BOSTON, December 10, 2012Putnam Investments announced today that it has received a DALBAR award for the 23rd consecutive year for its service quality. This continuous recognition of Putnam's work in this area includes being named DALBAR Mutual Fund Service Award winner for 21 years.

The DALBAR Service Awards are given annually by DALBAR, Inc., a leading financial services market research and consulting firm. The awards are based on rigorous, systematic and yearlong testing of customer service based on industry benchmarks, and point to service that exceeds industry standards in the most important areas. Putnam has received DALBAR awards for providing the highest level of customer service to clients each year since 1990, reflecting service quality that is consistently among the highest in the industry.

"We are pleased to be recognized by DALBAR for the 23rd straight year, signifying our relentless and continuous commitment to providing industry-leading service to our fund shareholders," said Robert L. Reynolds, president and chief executive officer, Putnam Investments. "We are enormously proud of the culture of service excellence that has been built at Putnam, and which is a core element in how we approach our business every day."

DALBAR, Inc., the nation's leading financial services market research and consulting firm, is committed to raising the standards of excellence in the financial services industry. With offices in both the US and Canada, DALBAR develops standards for, and provides research, ratings, and rankings of intangible factors to the mutual fund, broker/dealer, life insurance, property and casualty, and managed account industries. Measurements include investor behavior, customer satisfaction, service quality, communications, Internet services, and financial professional ratings.

About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money management firm. At the end of November 2012, Putnam had $127 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Amsterdam, Tokyo, Beijing, Singapore and Sydney. For more information, visit http://www.putnam.com.

Putnam mutual funds are distributed by Putnam Retail Management.