By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business, were not acquired for the purpose of
and do not have the effect of changing or influencing the control
of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purposes or effect.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.
PUTNAM INVESTMENTS, INC.
Name/Title: Frederick S. Marius
Assistant Vice President and Associate Counsel
Date: August 7, 1995
For this and all future filings, reference is made to Power of
Attorney dated November 9, 1992, with respect to duly authorized
signatures on behalf of Marsh & McLennan Companies, Inc., Putnam
Investments, Inc., Putnam Investment Management, Inc., The Putnam
Advisory Company, Inc. and any Putnam Fund wherever applicable.
For this and all future filings, reference is made to an Agreement
dated June 28, 1990, with respect to one filing of Schedule 13G on
behalf of said entitites, pursuant to Rule 13d-1(f)(1).
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