Robert L. Reynolds Named President and CEO of Putnam Investments

Thu Jun 12, 2008 8:12am EDT

* Reuters is not responsible for the content in this press release.

Charles E. Haldeman Named Chairman
BOSTON--(Business Wire)--
The Board of Directors of Putnam Investments announced today that
Robert L. "Bob" Reynolds has been named President and Chief Executive
Officer of Putnam Investments. Charles E. "Ed" Haldeman, current
Putnam Investments President and Chief Executive Officer, has been
named Chairman of Putnam Investment Management, LLC. Both appointments
are effective July 1, 2008.

   "Bob brings substantial industry experience, an outstanding record
of success, and a high energy level to Putnam's leadership team," said
R. Jeffrey Orr, Chairman of The Board of Directors of Putnam
Investments. "Along with Kevin Cronin, Putnam's Head of Investments,
and Bill Connolly, Putnam's Head of Global Distribution, we have a
very strong management team to move Putnam forward."

   "We welcome Bob to the Putnam team," said Mr. Haldeman. "I
personally look forward to working with him as we continue positioning
Putnam to exceed our clients' expectations."

   "For more than two decades, I have known Putnam as a formidable
and respected investment management company, and, quite frankly, a
very tough competitor," said Mr. Reynolds. "Putnam has a strong
reputation for its broad investment management capability,
distribution prowess, and award-winning service. I am honored and
excited to join Putnam and lead a company that has one of the great
legacies in the industry."

   Mr. Reynolds was Vice Chairman and Chief Operating Officer of
Fidelity Investments from 2000 to 2007. From 1996 to 2000, he was
President, Fidelity Investments Institutional Retirement Group.
Previously, Mr. Reynolds held various senior management roles within
the Fidelity Investments organization, beginning in 1984.

   A native of Clarksburg, West Virginia, Mr. Reynolds graduated from
the West Virginia University College of Business and Economics in 1974
with a bachelor's degree in business administration, majoring in
finance.

   Mr. Reynolds said: "I am very excited about the opportunities to
build upon Putnam's long-standing brand - which is among the best
known in the asset management business - and to work with the
outstanding Putnam employees. I see in Putnam a tremendous future."

   NOTE: Putnam is hosting a media conference call to discuss this
news at 10 a.m. (EDT) on Thursday, June 12. The dial-in number is:
Domestic: (800) 651-2215; International: (973) 935-8456; Conference
ID#51689277.

   Participants in the call at Putnam are:

   R. Jeffrey Orr, Chairman, The Board of Directors of Putnam
Investments

   Robert L. "Bob" Reynolds, President and Chief Executive Officer,
Putnam Investments

   Charles E. "Ed" Haldeman, Chairman, Putnam Investment Management,
LLC

   About Putnam

   Founded in 1937, Putnam Investments is one of the nation's oldest
and largest money management firms. As of May 31, 2008, Putnam managed
$175 billion in assets, of which $103 billion is for mutual fund
investors and $72 billion is for institutional accounts. Putnam has
offices in Boston, London, Frankfurt, Rome, Copenhagen, Sydney, Tokyo,
and Singapore. For more information, go to www.putnam.com.

Putnam Investments
Nancy Fisher, 617-760-1608
or
Laura McNamara, 617-760-1108

Copyright Business Wire 2008
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