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PUTNAM INVESTMENT GRADE MUNICIPAL TRUST III JOINS THE AMEX

 NEW YORK, Nov. 19 /PRNewswire/ -- The American Stock Exchange today began trading the initial public offering of common shares of Putnam Investment Grade Municipal Trust III.
 The Trust, trading under ticker symbol PML, opened at 15 on 3,500 shares.
 Goin & Company, Inc. has been selected as the Trust's specialist firm.
 The Trust's initial public offering consists of 4 million common shares and an over-allotment option of 600,000 shares.
 Putnam Investment Grade Municipal Trust III is a newly organized, closed-end, diversified management investment company. The Trust says that its investment objective is to provide a high level of current income exempt from federal income tax consistent with the preservation of capital, and will invest in investment grade tax-exempt securities.
 Boston-based Putnam Investment Management, Inc. is the Trust's investment manager and administrator.
 The American Stock Exchange is unique among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies and a principal market for derivatives. The American Stock Exchange is dedicated to providing both public and professional investors with superior trading products and services at competitive prices.
 -0- 11/19/93
 /CONTACT: Melissa Grand, manager-communications of American Stock Exchange, 212-306-1635/
 (PML)


CO: Putnam Investment Management, Inc. ST: Massachusetts IN: FIN SU: OFR

SH -- NY026 -- 6474 11/19/93 11:05 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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