Putnam Shuffles Growth Fund Managers Amid Departur

July 2, 2003 — Putnam Investments announced management changes on a number of its growth-oriented funds and said two of its stock pickers are leaving the firm.

Justin Scott, Kevin Divney and Paul Marrkand are now on the portfolio management team of the $3.7-billion Putnam Vista Fd/A (PVISX). They join lead manager Eric Wetlaufer, and co-manager Kenneth Doerr. Putnam said co-manager Dana Clark, who joined the firm in 1987, is leaving in early July.

Scott, who joined Putnam in 1988, has 22 years of investment experience. Divney, who joined Putnam in 1997, has 13 years of investment experience. Marrkand joined the firm in 1987 and has 13 years of investment experience.

Walton Pearson and David Santos become portfolio managers on the $17.6-billion Putnam Voyager Fd/A (PVOYX). They join lead manager Brian O’Toole and co-managers Tony Elavia and Eric Wetlaufer.

Pearson joined Putnam in 2003 and has 18 years of investment experience. Prior to joining Putnam, he was a portfolio manager at Alliance Capital. Santos has been with Putnam since 1986 and has 17 years of investment experience. Both are members of Putnam’s large-cap growth team.

In addition, Daniel Miller becomes a manager on the $2-billion Putnam OTC Emerging Growth Fd/A (POEGX), joining Roland Gillis. Miller joined Putnam in 1983 and has 21 years of investment experience. Mike Mufson, who helped run the fund after joining Putnam 1993, will also leave in early July.

Neither Clark nor Mufson could be reached for comment. A spokesperson for the firm did not know their future plans.