Morningstar® Investment Profile™ | Disclosure Statement Morningstar - Free Trial   Putnam NJ Tax Exempt Income A  PTNJX   Snapshot Total Returns Rating & Risk Portfolio Nuts & Bolts Analyst Report Quote datadef_ratings Putnam NJ Tax Exempt Income A  PTNJX   Morningstar Report Overall Morningstar Rating™ What is this? As of 2009-10-31 Out of Muni New Jersey Funds Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance. Morningstar® Style Box™ What is this?    Avg Duration    5.82 Yrs    Avg Credit Quality    A As of 2009-09-30 Day Change $ 0.01    NAV (2009-11-20) $ 9.21    YTD Return % (2009-11-20) 14.18%    Total Assets ($ mil) 240 View Data Definitions   Performance     Growth of $10,000 Fund: Putnam NJ Tax Exempt Income A (from 1999-01-01 to 2009-10-31) Category: Muni New Jersey Index: BarCap Municipal TR USD Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20 Inception date: 1990-02-20 10yr and Inception Returns as of 2009-10-31 YTD Returns as of 2009-11-20 YTD 1 Year 3 Year 5 Year 10 Year Since Inception Fund 14.18 12.37 3.96 4.13 5.02 5.71 +/- Category -2.19 -1.79 1.48 0.85 0.30 --- +/- BarCap Municipal TR USD 2.04 0.70 -0.29 -0.23 --- --- Standardized Annual Returns %   more on standardized returns Quarter-End (as of 2009-09-30) 11.72 10.24 3.49 3.76 4.67 5.62 Month-End (as of 2009-10-31) 9.48 9.66 2.59 3.19 4.59 5.49 After Tax Returns % (as of 2009-09-30 )   On Distribution --- 9.66 2.62 3.21 4.61 --- On Distribution & Sale of Shares --- 7.80 2.83 3.31 4.57 --- Morningstar Rating --- --- --- # of compared funds covered (3 yrs : out of 64 funds), (5 yrs : out of 56 funds), (10 yrs : out of 48 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is 4.00%, the maximum deferred sales fee is none, and the maximum redemption sales fee is 1.00%. The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.   Portfolio Profile     Sector Breakdown % General Obligations 0.86 Advance Refunded 8.16 State Appropriated Tobacco --- Non-state Appropriated Tobacco 11.68 Education 16.01 Health 13.63 Housing 0.53 Industrial 9.06 Transportation 6.36 Utilities 1.44 Water/Sewer 2.96 Misc. Revenue 29.30 Bond Quality % of Bonds AAA 25.7 AA 25.7 A 25.0 BBB 20.3 BB 3.2 B 0.0 Below B 0.0 Not Rated 0.2   Asset Allocation % of Net Assets Cash 3.6 Stocks 0.0 Bonds 96.4 Other 0.0 Foreign Stocks 0.0 (as a % of Assets) Data through 2009-09-30 Data through 2009-09-30 Holding Status Total Number of Stock Holdings Turnover % 12 Total Number of Bond Holdings 133 30 Day SEC Yield % 3.57 % of Assets in Top 10 Holdings 22.69 ending as of 2009-09-30 View Data Definitions Top 10 Holdings Maturity Date Amount $000 Value $000 % of Net Assets Delaware Riv Port Auth 5.625% 2026-01-01 7,490 7,522 3.11 New Jersey Health Care Facs Fi Rev 6.75% 2019-07-01 5,000 6,262 2.59 Port Auth 6.125% 2094-06-01 5,000 6,138 2.54 Casino Reinvestment Dev Auth 5.25% 2021-06-01 5,405 5,600 2.31 Puerto Rico Sales Tax Fing Cor Rev Bd 6% 2042-08-01 5,000 5,498 2.27 Tobacco Settlement Fing Corp N Asset 6% 2037-06-01 4,500 5,078 2.10 New Jersey St Edl Facs Auth 5% 2017-09-01 4,315 4,770 1.97 New Jersey St Tpk Auth 6.5% 2016-01-01 4,000 4,755 1.96 Puerto Rico Comwlth Aqueduct & Rev Bd 6% 2038-07-01 4,500 4,695 1.94 Tobacco Settlement Fing Corp N Asset 5% 2029-06-01 5,350 4,599 1.90 Data through 2009-09-30   Other Information Fund Inception: 1990-02-20 Portfolio Manager  (Start Date) Thalia Meehan  (2007-01-30) Ms. Meehan is a Managing Director and Team Leader of the Tax Exempt team. In addition to managing Putnam's Tax Exempt team, she is a Portfolio Leader of the Tax Exempt Income Fund, the AMT-Free Insured Municipal Fund, and all state funds, including closed-end funds. Ms. Meehan has served on the National Federation of Municipal Analysts' Board of Governors and is a member of Putnam's Diversity Advisory Council, the Boston Municipal Analyst Forum, and the Boston Security Analysts Society, as well as the Society of Municipal Analysts. In 2002, she received the Meritorious Service Award from the NFMA. Ms. Meehan, who joined Putnam's Tax Exempt Bond Group in 1989, is a CFA charterholder, and has 24 years of investment industry experience. Paul Drury  (2002-07-31) Mr. Drury is a Senior Vice President and Tax Exempt Specialist on the Tax Exempt Fixed Income team. He is responsible for managing several sectors within the municipal market. He is a Portfolio Leader of the Tax-Free High Yield Fund. He is also a Portfolio Member of the remainder of Putnam's tax-exempt and closed-ended funds. Mr. Drury joined Putnam in 1989 as a Mutual Fund Accountant in the Tax Exempt Accounting Department. A CFA charterholder, he has over 17 years of investment industry experience. Susan A. McCormack  (2002-07-31) Ms. McCormack is a Senior Vice President and Tax Exempt Specialist on the Tax Exempt Fixed Income team. She is a Portfolio Member of the tax-exempt fixed income funds. Ms. McCormack joined Putnam in 1994 as an analyst and moved into the role of Portfolio Manager in 1999. She is a CFA charterholder with 19 years of investment experience. Brad Libby  (2007-01-30) Mr. Libby is Senior Vice President and Tax Exempt Specialist on the Tax Exempt Fixed Income team. He is a Portfolio Member of Putnam's tax-exempt fixed income funds. He originally joined Putnam in 1996 as an Investment Associate in the Tax Exempt Fixed Income Group before leaving to pursue an M.B.A.; he returned as a Tax Exempt Bond Analyst in 2001. Mr. Libby has nine years of investment industry experience. Sales Charge % (taken from prospectus dated 2009-09-30) Front: 4.00 Deferred: None Expense Ratio % 0.87 based on net assets (taken from annual report dated 2009-05-31) Correspondence Information One Post Office Square Boston,  MA  02109 United States Telephone: 800-225-1581 617-292-1000 Data on this page does not include the fund's short positions (if any). Show Data Definitions © Copyright 2009 Morningstar, Inc. All rights reserved. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc. Past performance is no guarantee of future results. Returns will vary and shares may be worth more or less than their original cost when sold.