College Savings Plan

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Not FDIC Insured

May Lose Value

No Bank Guarantee

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The challenge

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Figures include tuition, fees, room, and board. Estimated growth rate of 5.5%.Sources: The College Board, 2008; and www.FinAid.org, 2008.

College costs are risingFour years of tuition, room, and board

2008

Public college $62,238

Private college$148,21

0

$163,154

2026

$388,528

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College debt is also rising

Undergraduates nationwide use loansto finance 49% of their college

costs.

The average college senior owes $19,237 at graduation.

The median starting salary for a graduate with a bachelor’s degree is $50,900.

Sources: Trends in Student Aid 2007 (The College Board); National Postsecondary Student Aid Study, Trends in Undergraduate Borrowing II, March 2008.

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Help meet the challenge with a529 plan

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What is a 529 plan?

• A way for families to save for college

• An investment account withtax advantages

– Qualified withdrawals arefederally tax free

• Operated by states and educational institutions

• Ohio Tuition Trust Authority established in 1989

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Benefits of a 529 plan• Can be used for any accredited college

in the country• Anyone can contribute to your account• You have more control than with other types

ofcollege savings investments

• You can change beneficiaries• You have other options if the beneficiary

does not attend college

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Tax benefits for every investor

• Withdrawals used for qualified higher education expenses are free from federal income tax*

• No taxes on earnings while your account accumulates

• Lower estate-tax liability without sacrificing control of your assets

* Withdrawals of earnings not used to pay for qualified higher education expenses are subject to tax and a 10% penalty.State taxes may apply.Withdrawals for qualified higher education expenses subject to tax if HOPE Scholarship or Lifetime Learning Credit is claimed for same expenses.If withdrawing funds for qualified higher education expenses from both a 529 account and a Coverdell Education Savings Account, a portion of the earnings distribution may be subject to tax and penalty on amounts that exceed qualified higher education expenses. Please read the Offering Statement for details.

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Estate planningGrandparent uses Putnam CollegeAdvantage to lower estate tax

* Married couples filing jointly may contribute up to $130,000 per beneficiary. Individuals may contribute up to $65,000. Contributions are generally treated as gifts to the beneficiary for federal gift tax purposes and are subject to annual federal gift tax exclusion amount ($13,000 for 2009). Contributor may elect to treat contribution in excess of that amount (up to $65,000 for 2009) as pro-rated over 5 years. Election is made by filing a federal gift tax return. While contributions are generally excludable from contributor’s gross estate, if electing contributor dies during 5-year period, amounts allocable to years after death are includible in contributor’s gross estate. Consult your tax advisor for more information.

Current estate value $3,695,000

Contribution to 529 plans* $195,000Beneficiaries

Estate value after contribution $3,500,000

Estate tax exemption for 2009 $3,500,000

Estate taxes due $0

Child A$65,000Age 11

Child B$65,000Age 5

Child C$65,000Age 2

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A 529 has limited impact on financial-aid opportunities

• Assets in a 529 account owned by parent are generally considered to be assets of the parent

• Distributions for qualified expenses do not reduce financial aid

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Make the mostof yourinvestment

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Start early, contribute often

This chart is for illustrative purposes only and is not intended to be representative of past or future performance.The Jones family saves $340 monthly for 18 years. The Smith family saves $1,219 monthly for 8 years. Assumes a hypothetical 8% annual return compounded monthly.

The Jones family starts saving today, contributing$340 every month

Total contribution$73,440

The Smith family waits 10 yearsto start saving, contributing$1,219 every month

Total contribution$117,024

Earnings$89,714

Account value$163,154after 18 years

Earnings$46,130

Account value$163,154after 8 years

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The Jones grandfather makes an initial contribution of $13,000

Let the whole family contribute

This chart is for illustrative purposes only and is not intended to be representative of past or future performance.The Jones grandfather makes a lump-sum contribution of $13,000 today. The Jones parents contribute $226 each month.Assumes a hypothetical 8% annual return compounded monthly.

Totalcontribution$61,816

The Jones parents contribute $226 every month

Earnings$101,338

Account value$163,154after 18 years

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Saving with Putnam CollegeAdvantage

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The Putnam Investmentsdifference

• A time-honored tradition inmoney management

• A prudent approach to investing

• Funds for every investment goal

• A commitment to doingwhat’s right for investors

• Industry-leading service

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Putnam CollegeAdvantage benefits and features

• High account value limit of $331,000*

• No age or time restrictions

• Choose from 20 investment options

* As of January 2009. Subject to periodic review.

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Age-based portfolios

* Allocations shown are target allocations; actual allocations may vary. See offering statement for details.

Asset allocation options reallocate annually, becomingmore conservative as beneficiaries approach college ageAge of beneficiary Newborn 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21+

Conservative

Moderate

Aggressive

Equity Fixed Income Cash

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Goal-based options

Balanced

Allocations shown are target allocations; actual allocations may vary. See the offering statement for details.

Asset allocation portfolios based on the investor’s objective

Aggressive growthGrowth

Equity 60%

Fixed Income34%

Cash 6%

Equity 85%

Fixed Income15%

Cash 0%

Equity 100%

Fixed Income 0%

Cash 0%

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Buildyour ownportfolio

Capital Preservation | Putnam Money Market Option *

Capital Preservation | Putnam Stable Value Option †

Investment Grade Bond | Putnam Income Option

High-Yield Bond | Putnam High Yield Option

U.S. Large-Cap Equity Value | Putnam Equity Income Option

U.S. Large-Cap Equity Blend | Fidelity Spartan 500 Index Option

Diversified Large Cap Equity Blend | Davis New York Venture Option

U.S. Small-Cap Equity Value | Maxim Loomis Sayles Small Cap Value Option **

U.S. Small-Cap Equity Growth | Fidelity Advisor Small Cap Option

U.S. Mid-Cap Equity Growth | Maxim T. Rowe Price Mid Cap Growth Option **

International Large-Cap Equity Blend | Putnam International Equity Option

International Small-Cap Equity Blend | Putnam International Capital Opportunities Option

U.S. Large-Cap Equity Growth | Maxim Janus Large Cap Growth Option **

Diversified Small-/Mid-Cap Equity | Fidelity Advisor Leveraged Company Stock Option

Cash

Fixed Income

Equity

* Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money investing in a money market fund. Money market funds are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency.

** Available on or about January 2009.

† Putnam Stable Value Asset Class Option invests in Putnam Income Fund and Putnam Money Market Fund, and in insurance wrapper agreements issued by a bank or an insurance company.

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Getting started is easy

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 * A gift of $65,000 in 2009 would constitute five years’ worth of gifts. Additional gifts made for the same beneficiary in the same five-year period would be subject to federal gift taxes. Election is made by filing a federal gift tax return. If the electing contributor dies during the 5-year period, amounts allocable to year after death are inducible in the contributor’s gross estate.

** Contribution limit as of 1/1/09. Subject to periodic review.

How much can you contribute?

• No minimum investment

• As much as $65,000 in a single year ($130,000 for couples filing jointly) without exceeding the federalgift-tax exclusion*

• Account value can be as high as $331,000**

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Many ways to contribute

• Invest a lump sum

• Establish a dollar cost averaging program

• Encourage contributions with gift certificates

Systematic investing and dollar cost averaging do not assure a profit or protect against loss in a declining market. You should consider your ability to continue investing during periods of low prices.

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Withdrawals are easy

• You tell us how tomake out the check

• Mail the completed formto Putnam Investments

* Withdrawals of earnings not used to pay for qualified higher education expenses are subject to tax and a 10% penalty. State taxes may apply.

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• Contact Melody Ferguson, Financial Advisor

• Call 312-663-1336

• Email: mferguson@sagepointadvisor.com

• Visit www.putnam.com

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