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 JANUARY 25, 1995
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, from
its own resources, to securities 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 companies 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, from
its own resources, to securities dealers responsible for certain purchases
at net asset value. As a condition of such payments, FTD or its affiliates
may require reimbursement from such securities 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 securities 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 install-
ment 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 Shareholder 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.
