Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Leibler Kenneth R
   2. Issuer Name and Ticker or Trading Symbol
PUTNAM MUNICIPAL OPPORTUNITIES TRUST [pmo] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
PUTNAM INVESTMENTS, ONE POST OFFICE SQUARE		 3. Date of Earliest Transaction (Month/Day/Year)
02/25/2008
(Street)

BOSTON, MA 02109		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common shares 02/25/2008(1)   J(2)   187 (3) A $ 12.51 (4) 287 (5) D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Leibler Kenneth R
PUTNAM INVESTMENTS
ONE POST OFFICE SQUARE
BOSTON, MA 02109		   X      

Signatures

 Kenneth R. Leibler   02/27/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Effective date of mergers of each of Putnam Investment Grade Municipal Trust and Putnam Municipal Bond Fund into issuer.
(2) Each of Putnam Investment Grade Municipal Trust (PGM) and Putnam Municipal Bond Fund (PMG), each of which is a closed-end investment company, merged into issuer (PMO) on February 25, 2008. Common shares of PMO were issued in exchange for all outstanding common shares of each of PGM and PMG based on the per-share net asset values of each fund's common shares calculated as of February 22, 2008.
(3) Reflects the issuance of 83 common shares of PMO received in connection with the merger of PGM into PMO and the issuance of 104 common shares of PMO received in connection with the merger of PMG into PMO.
(4) Per-share net asset value of PMO common shares as of February 22, 2008. Reflects rounding.
(5) Each of Putnam Investment Grade Municipal Trust (PGM) and Putnam Municipal Bond Fund (PMG), each of which is a closed-end investment company, merged into issuer (PMO) on February 25, 2008. Common shares of PMO were issued in exchange for all outstanding common shares of each of PGM and PMG based on the per-share net asset values of each fund's common shares calculated as of February 22, 2008.

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