PUTNAM MASTER INTERMEDIATE INCOME TRUST — Director's Dealing 2006

Dec 15, 2006

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: PUTNAM MASTER INTERMEDIATE INCOME TRUST (pim)
CIK: 0000830622
Period of Report: 2006-09-30

Reporting Person: Drucker Myra R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-09-30	Closed-end fund	J	2.0068	$6.21	Acquired	102.0068	Direct

Footnotes

F1: late filing of dividend reinvestments for FYE 2006

F2: price as of 9/30/06