Certifications
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I, Linwood E. Bradford, a Principal Executive Officer of TH Lee,
Putnam Emerging Opportunities Portfolio, certify that:

1. I have reviewed this report on Form N-CSR of TH Lee, Putnam Emerging
Opportunities Portfolio:

2. Based on my knowledge, this report does not contain any untrue
statements of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period
covered by this report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in
net assets, and cash flows (if the financial statements are required
to include a statement of cash flows) of the registrant as of, and
for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in rule 30a-3(c) under the Investment Company Act) for the
registrant and have:

a) designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the
period in which this report are being prepared;

b) evaluated the effectiveness of the registrant's disclosure controls
and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date
within 90 days prior to the filing date of this report (the "Evaluation
Date") based on such evaluation; and

c) disclosed in this report any change in the registrant's internal
control over financial reporting that occurred during the registrant's
most recent fiscal half-year (the registrant's second fiscal half-year
in the case of an annual report) that has materially affected, or is
reasonably likely to materially affect, the registrant's internal control
over financial reporting.

5. The registrant's other certifying officer and I have disclosed
to the registrant's auditors and the audit committee of the registrant's
board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or
operation of internal controls over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal controls.

/s/ Linwood E. Bradford      Date: June 25, 2004
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Linwood E. Bradford, Principal Executive Officer




Certifications
- --------------
I, Steven D. Krichmar, the Principal Financial Officer of TH Lee, Putnam
Emerging Opportunities Portfolio, certify that:

1. I have reviewed this report on Form N-CSR of TH Lee, Putnam Emerging
Opportunities Portfolio:

2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period
covered by this report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in
net assets, and cash flows (if the financial statements are required
to include a statement of cash flows) of the registrant as of, and
for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in rule 30a-3(c) under the Investment Company Act) for the
registrant and have:

a) designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the
period in which this report are being prepared;

b) evaluated the effectiveness of the registrant's disclosure controls
and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date
within 90 days prior to the filing date of this report (the "Evaluation
Date") based on such evaluation; and

c) disclosed in this report any change in the registrant's internal
control over financial reporting that occurred during the registrant's
most recent fiscal half-year (the registrant's second fiscal half-year
in the case of an annual report) that has materially affected, or is
reasonably likely to materially affect, the registrant's internal
control over financial reporting.

5. The registrant's other certifying officer and I have disclosed to
this registrant's auditors and the audit committee of this registrant's
board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design
or operation of internal controls over financial reporting which are
reasonably likely to adversely affect each registrant's ability to
record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or
other employees who have a significant role in this registrant's
internal controls.


/s/ Steven D. Krichmar      Date: June 25, 2004
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Steven D. Krichmar, Principal Financial Officer