SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. ) ---- Filed by the Registrant / X / ---- ---- Filed by a party other than the Registrant / / ---- CHECK THE APPROPRIATE BOX: ---- / / Preliminary Proxy Statement - ---- ---- / / Confidential, for Use of the Commission Only (as - ---- permitted by Rule 14a-6(e) (2)) ---- / / Definitive Proxy Statement - ---- ---- / X / Definitive Additional Materials - ---- ---- / / Soliciting Material Pursuant to Sec. 240.14a-11(c) or - ---- Sec. 240.14a-12 PUTNAM MANAGED HIGH YIELD TRUST PUTNAM MASTER INCOME TRUST (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than Registrant) PAYMENT OF FILING FEE (CHECK THE APPROPRIATE BOX): ---- / X / No fee required - ---- ---- / / Fee computed on table below per Exchange Act Rule 14a - ---- 6(i)(1) and 0-11 (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: ---- / / Fee paid previously with preliminary materials. - ---- ---- / / Check box if any part of the fee is offset as - ---- provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: This is the logon page to the Website - ------------------------------------------------------------ INTERNET PROXY VOTING SERVICE PLEASE ENTER CONTROL NUMBER FROM YOUR PROXY CARD: CHECK HERE / / TO VOTE WITH BOARD RECOMMENDATIONS. / VOTE PROXY CARD./ Sample graphics of Where your Control Number is Proxyweb.com is a service of: Located on card. Management Information Services Corp. Full service proxy specialists (781) 871-1660 This site is best viewed using Netscape Or Internet Explorer versions 3.0 or higher and using a display resolution of 800 X 600. Voting instruction page Putnam Logo INTERNET PROXY SERVICE INTERNET PROXY CARD PUTNAM (NAME OF FUND) THE TRUSTEES RECOMMEND A VOTE "FOR" FIXING THE NUMBER OF TRUSTEES AND ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND "FOR" THE OTHER PROPOSAL LISTED BELOW. When using a `For all except' response, enter the number(s) of the nominees(s) you wish to withhold on, separated by a comma, in the text field. Proposal 1. Proposal for fixing the number of Trustees and electing Trustees. 0 FOR ALL The nominees for Trustees are: (01) J.A. Baxter, (02) H. H. Estin 0 WITHHOLD ALL (03) J.A. Hill, (04) R.J. Jackson, (05) P.L. Joskow, 0 FOR ALL EXCEPT: (06) E.T. Kennan, (07) L.J. Lasser, (08) J.H. Mullin, III, (09) R.E. Patterson, (10) W.F. Pounds, (11) G. Putnam, (12) G. Putnam, III, (13) A.J.C. Smith, (14) W.T. Stephens, and (15) W.N. Thorndike. Proposal 2. Proposal to ratify the selection of (Name of Auditor) as the independent auditors of your fund. 0 FOR 0 AGAINST 0 ABSTAIN If you have questions on any of the proposals, please call 1-800-225-1581. IF YOU DO NOT SPECIFY VOTING INSTRUCTIONS ON THE PROPOSASL, YOUR PROXY WILL VOTE "FOR" THE PROPOSALS ON YOUR BEHALF. To receive email confirmation, enter your email address here: PRESS THIS BUTTON TO SUBMIT YOUR VOTING INSTRUCTIONS. PLEASE REVIEW YOUR SELECTIONS CAREFULLY BEFORE SUBMITTING YOUR VOTING INSTRUCTIONS. IF YOU SUBMIT YOUR VOTING INSTRUCTIONS MORE THAN ONCE FOR THE SAME PROPOSAL, ONLY YOUR LAST (MOST RECENT) VOTING INSTRUCTIONS WILL BE CONSIDERED VALID. Page that comes up after you submit your voting instructions. Putnam Logo INTERNET PROXY SERVICE INTERNET PROXY CARD PUTNAM (NAME OF FUND) THANK YOU! YOUR VOTE HAS BEEN SUBMITTED. THE TRUSTEES RECOMMEND A VOTE "FOR" FIXING THE NUMBER OF TRUSTEES AND ELECTING ALL OF THE NOMINEES FOR TRUSTEES AND "FOR" THE OTHER PROPOSAL LISTED BELOW. Proposal 1. Proposal for fixing the number of Trustees and electing Trustees. The nominees for Trustees are: (01) J.A. Baxter, (02) H. H. Estin (your voting instruction listed here) (03) J.A. Hill, (04) R.J. Jackson, (05) P.L. Joskow, (06) E.T. Kennan, (07) L.J. Lasser, (08) J.H. Mullin, III, (09) R.E. Patterson, (10) W.F. Pounds, (11) G. Putnam, (12) G. Putnam, III, (13) A.J.C. Smith, (14) W.T. Stephens, and (15) W.N. Thorndike. Proposal 2. Proposal to ratify the selection of (Name of Auditor) as the independent auditors of your fund. If you have questions on the proposals, please call 1-800-225-1581. No email confirmation has been sent. or Your email confirmation has been sent to: (email address listed) Change Vote Exit Internet Proxy Voting Service Vote Another Proxy Proxy Vote Confirm, if requested. From: (Vendor Website address) on (date) (time) To: (email address) Subject: Confirmation of Internet Proxy Vote Your vote has been submitted for Putnam (Name of Fund). Proposal 1. Proposal for fixing the number of Trustees and electing Trustees. The nominees for Trustees are: (01) J.A. Baxter, (02) H. H. Estin (03) J.A. Hill, (04) R.J. Jackson, (05) P.L. Joskow, (06) E.T. Kennan, (07) L.J. Lasser, (08) J.H. Mullin, III, (09) R.E. Patterson, (10) W.F. Pounds, (11) G. Putnam, (12) G. Putnam, III, (13) A.J.C. Smith, (14) W.T. Stephens, and (15) W.N. Thorndike. Proposal 2. Proposal to ratify the selection of (Name of Auditor) as the independent auditors of your fund. (your voting instruction listed here) Thank you for using (Website address), The Internet Proxy Voting Service!