Market Overview

High Income Securities Fund Makes Announcement

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High Income Securities Fund (NYSE:PCF) (the "Fund"), formally known as
Putnam High Income Securities Fund, today announced that the Fund's name
change will take effect on July 24, 2018. The Fund's ticker symbol will
remain "PCF". As previously announced, Putnam Investment Management, LLC
will no longer serve as the Fund's investment adviser and the Fund will
be internally managed until further notice. Going forward, U.S. Bank,
N.A. will be the Fund's custodian and U.S. Bancorp Fund Services, LLC
will be the Fund's administrator and fund accountant. Approximately 99%
of the Fund's portfolio currently consists of cash and cash equivalents
in anticipation of the previously announced self-tender offer and the
proposed deregistration of the Fund, which is anticipated to occur in
the last quarter of 2018 or the first quarter of 2019. In addition, the
Fund does not intend to pay any further regular distributions.

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