(Letterhead of Charles E. Porter, Executive Vice President of the
Putnam Funds)

May 31, 1994

Dear Shareholder:

You recently received a proxy statement requesting your vote on
matters relating to Putnam Convertible Income-Growth Trust.  Our
records show that you have not yet voted.  Your vote is very
important.  At your Fund's shareholder meeting earlier this
month, action on a proposal to increase the Fund's management fee
was adjourned to permit solicitation of additional proxies.

As explained in the enclosed materials relating to your IRA
Account with the Fund, the terms of your IRA plan have been
amended to permit Putnam Fiduciary Trust Company, as Trustee of
your IRA account, to vote shares held in your account for which
no timely instructions have been received.  The Trustee will vote
these shares in the same proportion as the Trustee has been
instructed to vote shares held by all IRA accounts for which
instructions have been received.

Your vote is important to us and we hope that you will take the
time to instruct the Trustee how you wish your shares to be
voted.  Please vote by completing the enclosed ballot card and
return it to us in the enclosed self-addressed, postage-paid
envelope.  Thank you.

Sincerely,
/s/ Charles E. Porter
Executive Vice President



     (Letterhead of Charles E. Porter, Executive Vice President of the
Putnam Funds)

May 31, 1994

Dear Shareholder:

You recently received a proxy statement requesting your vote on
matters relating to Putnam Convertible Income-Growth Trust.  Our
records show that you have not yet voted.  Your vote is very
important.  At your Fund's shareholder meeting earlier this
month, action on a proposal to increase the Fund's management fee
was adjourned to permit solicitation of additional proxies.

As explained in the enclosed materials relating to your 403(b)(7)
Custodial Account with the Fund, the terms of your account have
been amended to permit Putnam Fiduciary Trust Company, as
Custodian of your 403(b)(7) Custodial Account, to vote shares
held in your account for which no timely instructions have been
received.  The Custodian will vote these shares in the same
proportion as the Custodian has been instructed to vote shares
held by all 403(b)(7) accounts for which instructions have been
received.

Your vote is important to us and we hope that you will take the
time to instruct the Trustee how you wish your shares to be
voted.  Please vote by completing the enclosed ballot card and
return it to us in the enclosed self-addressed, postage-paid
envelope.  Thank you.

Sincerely,
/s/ Charles E. Porter
Executive Vice President