PUTNAM MASTER INTERMEDIATE INCOME TRUST — Director's Dealing 2008

Oct 17, 2008

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: PUTNAM MASTER INTERMEDIATE INCOME TRUST (pim)
CIK: 0000830622
Period of Report: 2008-09-30

Reporting Person: HILL JOHN A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-30	Closed-end fund	J	18.157	$5.39	Acquired	272.018	Direct

Footnotes

F1: Dividends reinvested for fiscal year ended 9/30/08

F2: Price as of 9/30/08