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Putnam Investments salutes Ted Ligety for winning three gold medals during historic performance at 2013 world ski championships

Along with legions of ski fans worldwide, Putnam Investments watched with excitement last week as U.S. Ski Team leader and Putnam's well-recognized marketing partner, Ted Ligety, won three gold medals at last week's 2013 FIS Alpine World Ski Championships in Schladming, Austria. Ligety became the first American to ever win three gold medals at a world championships, a feat last accomplished in 1968 by the legendary skier, Jean-Claude Killy, during the Grenoble Winter Olympic Games.

Putnam has enjoyed a close marketing relationship with Ligety since 2009 that includes appearances in the firm's top markets, participation in Putnam's advertising and social media efforts and overall support of brand development opportunities globally. Putnam is also an Official Sponsor of the U.S. Ski Team and U.S. Snowboarding.

"Putnam Investments is extraordinarily proud to be a primary sponsor of Ted Ligety, a true champion whose achievements bring global visibility to the Putnam brand," said Putnam Investments President and Chief Executive Officer Robert L. Reynolds. "We look forward to watching Ted and the U.S. Ski Team's continued success as they turn their attention to the 2014 Winter Games in Sochi, Russia."

"As an investment management firm that places tremendous importance on superior performance results across categories and disciplines, Putnam has great appreciation and respect for the depth of talent, versatility and pure determination demonstrated by Ted," Reynolds said. "Bringing an unyielding commitment to excellence and executing at the highest level are brand attributes with which any individual or company would want to be associated."

Leading the Pack
In recognition of the firm's broad-based performance strength, last week, Putnam Investments was ranked # 1 in the Barron's/Lipper Fund Families Report for 2012 investment results across a variety of asset types, including U.S. Equities, World Equities, Mixed Equities, Taxable Bond and Tax-Exempt Bond. The occasion marked the second time in four years that Putnam landed the top spot in the annual rankings.

Building a Winning Team
Reynolds also noted that the partnership with Ligety is a primary example of Putnam's broader sports marketing strategy to align its brand with teams and athletes that resonate with the firm's advisor, institutional and investor audiences, and, who best personify Putnam's results-oriented philosophy and values. "With Ted, PGA Champion golfer Keegan Bradley, and the three-time Super Bowl winning New England Patriots, Putnam is honored to have three highly visible champions in its sports sponsorship stable," Reynolds noted.

Building upon its marketing partnership with Ligety, in October 2010, Putnam announced it had become the exclusive mutual fund sponsor of the U.S. Ski Team and sponsor of U.S. Snowboarding, supporting U.S. athletes in the sports of alpine, freestyle and cross-country skiing, ski jumping, snowboarding and Nordic combined. Putnam's sponsorship, which continues through 2014, will help support young American athletes as they prepare for the next Winter Olympic Games in Sochi, Russia.

About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money management firm with over 75 years of investment experience. The firm was recently named #1 Mutual Fund Family by Lipper/Barron's based on the firm's 2012 performance across asset classes. At the end of January 2013, Putnam had $133 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Beijing, Amsterdam, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

How Barron's ranked the fund families:

The Lipper/Barron's survey published February 9, 2013, for the 2012 award period, ranked Putnam #1 out of 62 fund families with funds in five categories: general U.S. stock, global or international, mixed-asset, taxable bond, and tax-exempt bond. Putnam Investments ranked 27 of 53 and 36 of 46 for the 5- and 10-year periods, respectively. Lipper/Barron's survey published February 7, 2011, for the 2010 award period, ranked Putnam #14 out of 57 fund families with funds in five categories: general U.S. stock, global or international, mixed-asset, taxable bond, and tax-exempt bond. Putnam Investments ranked 41 of 53 and 38 of 46 for the 5- and 10-year periods, respectively.

The Lipper/Barron's survey published February 1, 2010, for the 2009 award period, ranked Putnam #1 out of 61 fund families with funds in five categories: general U.S. stock, global or international, mixed-asset, taxable bond, and tax-exempt bond. Putnam Investments ranked 43 of 54 and 46 of 48 for the 5- and 10-year periods, respectively. Only funds with at least one year of performance were included. Returns were calculated minus the effects of sales charges and 12b-1 fees. Rankings were asset weighted, so larger funds had a greater impact on a fund family's overall ranking, and then weighted by category, with each category assigned a percentage. Past performance is not indicative of future results. Barron's is a registered trademark of Dow Jones & Company.

For complete performance for Putnam funds, visit putnam.com.

Consider these risks before investing: Our allocation of assets among permitted asset categories may hurt performance. The prices of stocks and bonds in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including both general financial market conditions and factors related to a specific issuer or industry. Our active trading strategy may lose money or not earn a return sufficient to cover associated trading and other costs. Our use of leverage obtained through derivatives increases these risks by increasing investment exposure. Bond investments are subject to interest-rate risk, which means the prices of the fund's bond investments are likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Unlike bonds, funds that invest in bonds have ongoing fees and expenses. Lower-rated bonds may offer higher yields in return for more risk. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Additional risks may be associated with emerging-market securities, including illiquidity and volatility. The use of derivatives involves additional risks, such as the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund's effort to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. REITs involve the risks of real estate investing, including declining property values. Commodities involve the risks of changes in market, political, regulatory, and natural conditions. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Additional risks are listed in the funds' prospectus.

Investors should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus, or summary prospectus if available, containing this and other information for any Putnam fund or product, call your financial representative or call Putnam at 1-800-225-1581. Please read the prospectus carefully before investing.