SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION DATED JANUARY 1, 1995
Templeton Growth Fund, Inc.
TEMPLETON FUNDS, INC.
Templeton World Fund
Templeton Foreign Fund
Templeton Smaller Companies Growth Fund, Inc.
Templeton Real Estate Securities Fund, Inc.
* * *
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1994, AS
SUPPLEMENTED NOVEMBER 4, 1994
Templeton Global Opportunities Trust
Templeton Developing Markets Trust
* * *
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION DATED JULY 28, 1994, AS
SUPPLEMENTED NOVEMBER 4, 1994
Franklin Templeton Japan Fund
* * *
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION DATED JUNE 27, 1994, AS
SUPPLEMENTED DECEMBER 2, 1994
TEMPLETON GLOBAL INVESTMENT TRUST
Templeton Global Rising Dividends Fund
Templeton Global Infrastructure Fund
* * *
The following text is added to the section entitled "PURCHASE, REDEMPTION AND
PRICING OF SHARES":
PURCHASES AT NET ASSET VALUE. The following amounts will be paid by FTD to
dealers who initiate and are responsible for purchases of $1 million or more and
for purchases made at net asset value by certain designated retirement plans
(excluding IRA and IRA rollovers), certain trust company and trust departments
of banks and certain retirement plans of organizations with collective
retirement
plan assets of $10 million or more): 1.00% on sales of $1 million but less $2
million, plus 0.80% on sales of $2 million but less than $3 million, plus 0.50%
on sales of $3 million but less than $50 million, plus 0.25% on sales of $50
million but less than $100 million, plus 0.15% on sales of $100 million or more.
Dealer concession breakpoints are reset every 12 months for purposes of
additional purchases.
As described in the Prospectus, FTD or its affiliates may make payments, out of
their own resources, to dealers responsible for certain purchases at net asset
value. As a condition of such payments, FTD or its affiliates may require
reimbursement from such dealers with respect to certain redemptions made within
12 months of the calendar month following purchase as well as other conditions,
all of which may be imposed by an agreement between FTD, or its affiliates, and
the dealer.
<PAGE>
The text of the section entitled "PURCHASE, REDEMPTION AND PRICING OF SHARES-
LETTER OF INTENT" is deleted and replaced with the following:
Purchasers who intend to invest $50,000 or more in Shares of the Fund or any
other fund in the Franklin Templeton Group (except Templeton Capital Accumulator
Fund, Inc., Templeton Variable Annuity Fund, Templeton Variable Products Series
Fund, Franklin Valuemark Funds and Franklin Government Securities Trust) within
13 months (whether in one lump sum or in installments, the first of which may
not
be less than 5% of the total intended amount and each subsequent installment not
less than $25 unless the investor is a qualifying employee benefit plan (the
"Benefit Plan"), including automatic investment and payroll deduction plans),
and to beneficially hold the total amount of such Shares fully paid for and
outstanding simultaneously for at least one full business day before the
expiration of that period, should execute a Letter of Intent ("LOI") on the form
provided in the Application in the Prospectus. Payment for not less than 5% of
the total intended amount must accompany the executed LOI unless the investor is
a Benefit Plan. Except for purchases of Shares by a Benefit Plan, those Shares
purchased with the first 5% of the intended amount stated in the LOI will be
held
as "Escrowed Shares" for as long as the LOI remains unfulfilled. Although the
Escrowed Shares are registered in the investor's name, his full ownership of
them is conditional upon fulfillment of the LOI. No Escrowed Shares can be
redeemed by the investor for any purpose until the LOI is fulfilled or
terminated. If the LOI is terminated for any reason other than fulfillment,
the Transfer Agent will redeem that portion of the Escrowed Shares required
and apply the proceeds to pay
any adjustment that may be appropriate to the sales commission on all Shares
(including the Escrowed Shares) already purchased under the LOI and apply any
unused balance to the investor's account. The LOI is not a binding obligation
to purchase any amount of Shares, but its execution will result in the purchaser
paying a lower sales charge at the appropriate quantity purchase level. A
purchase not originally made pursuant to an LOI may be included under a
subsequent LOI executed within 90 days of such purchase. In this case, an
adjustment will be made at the end of 13 months from the effective date of the
LOI at the net asset value per Share then in effect, unless the investor makes
an earlier written request to the Principal Underwriter upon fulfilling the
purchase of Shares under the LOI. In addition, the aggregate value of any
Shares purchased prior to the 90-day period referred to above may be applied to
purchases under a current LOI in fulfilling the total intended purchases under
the LOI. However, no adjustment of sales charges previously paid on purchases
prior to the 90-day period will be made.
If an LOI is executed on behalf of a benefit plan (such plans are described
under
"How to Buy Shares of the Fund - Net Asset Value Purchases" in the Prospectus),
the level and any reduction in sales charge for these employee benefit plans
will be based on actual plan participation and the projected investments in the
Franklin Templeton Group (except Templeton Capital Accumulator Fund, Inc.,
Templeton Variable Annuity Fund, Templeton Variable Products Series Fund,
Franklin Valuemark Funds and Franklin Government Securities Trust) under the
LOI.
Benefit Plans are not subject to the requirement to reserve 5% of the total
intended purchase, or to any penalty as a result of the early termination of a
plan, nor are Benefit Plans entitled to receive retroactive adjustments in price
for investments made before executing LOIs.
