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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 ShcsrAyjOxkFZJUivLerY4T3dThF5CepsXEjo9Rud2e8Y7HTsbCholfrs/I8nfEg
 /PHiMWigzOw7eBW/QQnpgw==

<SEC-DOCUMENT>0000830622-97-000001.txt : 19970211
<SEC-HEADER>0000830622-97-000001.hdr.sgml : 19970211
ACCESSION NUMBER:		0000830622-97-000001
CONFORMED SUBMISSION TYPE:	N-23C-1
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19970131
FILED AS OF DATE:		19970207
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM MASTER INTERMEDIATE INCOME TRUST
		CENTRAL INDEX KEY:			0000830622
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046584465
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		N-23C-1
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	817-00189
		FILM NUMBER:		97520856

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172921000
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-23C-1
<SEQUENCE>1
<TEXT>

                                             FORM N-23C-1
                                   STATEMENT BY REGISTERED CLOSED-END
                         INVESTMENT COMPANY WITH RESPECT TO PURCHASES OF ITS OWN
                    SECURITIES PURSUANT TO RULE N-23C-1 DURING THE LAST CALENDAR
MONTH

<TABLE>
<CAPTION>

REPORT FOR CALENDAR MONTH ENDING: January 1997
NAME OF REGISTERED CLOSED-END INVESTMENT COMPANY:  Putnam Master Intermediate
Income Trust


Date of      Identification   Number of   Price Per   Approximate Asset Value    Name of Seller or
Each         of Security      Shares      Share       or Approximate Asset       of Seller's Broker
Transaction                   Purchased               Coverage per Share at
                                                      Time of Purchase
<C>          <C>              <C>         <C>         <C>                        <C>
1/9/97       746909100        17,000      7.625       8.65                       Smith Barney
1/10/97      746909100        17,000      7.625       8.67                       Smith Barney
1/13/97      746909100        17,000      7.625       8.66                       Smith Barney
1/20/97      746909100        15,000      7.625       8.66                       Smith Barney
1/21/97      746909100        15,000      7.625       8.67                       Smith Barney


                                                      PUTNAM MASTER INTERMEDIATE
INCOME TRUST
                                                      Name of Registrant

                                                      By: /s/ Charles E. Porter
                                                      Title: Executive Vice
President
</TABLE>                                              Date: February 7, 1997


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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