Putnam Investments announced that it has entered into an agreement with the Société Générale Savings and Investment Retirement Plan U.S., which holds $220 million in assets, to provide defined-contribution plan services for over 3,000 U.S.-based employees.

The services that Putnam Investments will provide to the Société Générale Savings and Investment Retirement Plan U.S. include payroll-integrated recordkeeping, customized communication and onsite education programs, and access to a new suite of participant and plan sponsor websites.

The advisor on the plan is National Retirement Partners President and Chief Executive Officer William R. Chetney. “Société Générale chose Putnam Investments for several reasons, including its competitive pricing, award-winning customer service and education programs, open architecture and ability to improve administrative efficiencies, said Mr. Chetney. “They also were impressed with the enhancements Putnam made earlier this year to its defined-contribution program, including a significant investment in new outcome-oriented web tools.”

“We are pleased that Société Générale has selected Putnam Investments to provide essential services for their U.S. retirement plan,” said Edmund F. Murphy, III, Managing Director, Head of Defined Contribution, Putnam Investments. “In continuing to emerge as a leading defined contribution provider in the marketplace, Putnam has significantly bolstered its full service offerings in the past year through the addition of great talent, leading-edge technology, and commitment to innovation and world-class service. Our selection by Société Générale is a wonderful validation of our business and we look forward to working with such an outstanding organization.”

Beginning in March 2009, Putnam expanded the services it offers to retirement plans and developed products to meet the needs of those planning for or already in retirement. The firm created a new open-architecture platform that provides flexible and scalable services, state-of-the-art technology and customized plan designs for advisors, consultants and their plan sponsor clients in every segment of the retirement market. Putnam also offers an open architecture with access to over 10,000 investment options and qualified default investment alternatives (QDIA). Currently, Putnam’s platform serves approximately 21,000 retirement plans.

Putnam’s enhanced defined-contribution plan service offering is part of the company’s deepened commitment to the retirement market. Putnam’s President and Chief Executive Officer, Robert L. Reynolds, himself a 30-year retirement industry veteran who has been named among the most influential individuals in the defined-contribution business, has called for sweeping reforms to help meet the nation’s emergent retirement savings challenge.

Under Reynolds leadership, Putnam Investments has focused on strengthening investment performance, industry innovation -- including new products and platforms-- and further development of its retirement products and services. Progress has been demonstrated by an improvement in investment performance across all asset categories, the launch of innovative new products (including the industry’s first suite of target Absolute Return Funds), the revitalization of the firm’s brand, trailblazing new Web-based tools and the use of social media, and an overall strengthening of talent in key roles.

About Putnam Investments

Founded in 1937, Putnam Investments is a leading global money management firm with over 70 years of investment experience. At the end of December 2009, Putnam had $115 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Amsterdam, Tokyo, Singapore, and Sydney. For more information, visit putnam.com.

Putnam mutual funds are distributed by Putnam Retail Management.

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