Exhibit (a)(12)

                            Mildred B. Horejsi Trust
                        c/o Badlands Trust Company, LLC
                                 3301 C Street,
                               Anchorage AK 99501


Dear fellow shareholders:

     Enclosed with this letter you will find an offer to purchase your shares of
the Putnam  California  Investment  Grade  Municipal Trust (the "PCA") at a cash
price of $14.16 per share. Our offer to purchase is at the highest average price
paid for PCA shares on the American Stock Exchange during the past 2 1/2 years.

     We urge you to consider  the  following  in making your  decision to tender
shares:

     We believe that  shareholders  of PCA deserve a fresh  start,  particularly
given that:

          -    the Securities and Exchange Commission ("SEC") has gone on record
               stating  that  officials  of  PCA's  manager,  Putnam  Investment
               Management,  LLC ("Putnam  Management")  breached their fiduciary
               duty to PCA.

          -    Putnam Management is embroiled in litigation,  investigations and
               other  allegations  of  varying  improprieties  which have led to
               various settlements with the SEC and the Massachusetts Securities
               Division.

          -    In  Morningstar's(TM)  latest  ratings  (December 31, 2006),  PCA
               received  only 2 of 5 stars  for its  overall,  5-,  and  10-year
               performance  history,  and  only  1 of 5  stars  for  its  3-year
               performance  history,  as compared with other similarly  situated
               California municipal  long-position  closed-end funds. We believe
               PCA can and should perform better and that investors  looking for
               income that is tax exempt under federal and California income tax
               statutes have better opportunities.

          -    Finally,   we  understand  that  Putnam  Management's  parent  is
               considering selling Putnam Management to a closely-held  Canadian
               corporation,  Power  Corporation,  which may not have  management
               experienced in the affairs of United States  closed-end  funds or
               funds traded on the American Stock Exchange.

     We are making our offer because we intend to acquire control of PCA so that
we may take PCA in a new  direction.  For  shareholders  who do not wish to be a
part of the new direction, our offer is an opportunity to sell shares before any
changes occur, and at the highest price over the last 2 1/2 years.

     One of the changes we will propose to  implement  if we acquire  control of
PCA is to change PCA's investment policies to permit PCA to invest in securities
other than California  municipal  bonds.  This change is likely to result in PCA
having little current income resulting in reduced or no dividends, and/or income
that is not exempt from federal and California  income taxes. In addition,  some
of the changes we would propose to implement are likely to increase PCA's costs.

     We urge you to complete  the attached  documents  and tender your shares in
our offer. The attached offering documents contain important  information and we
urge you to read the offering documents before making your decision.

     If you need further  information,  you may contact  Morrow & Co., Inc., our
information  agent,  at (800)  607-0088  (banks and  brokers  should  call (203)
658-9400).



                                      Mildred B. Horejsi Trust

                                      January 22, 2007