TXBL STKR 7/96o
FRANKLIN GROUP OF FUNDS(R)
TEMPLETON GROUP OF FUNDS
(the "Franklin Templeton Funds")
PROSPECTUS SUPPLEMENT
DATED JULY 1, 1996
1. The Fund's policy regarding purchases by retirement plans at net asset value
(without a sales charge) as described in the section "How Do I Buy Shares?" or
"How to Buy Shares of the Fund(s)" of the prospectuses for the Franklin
Templeton Funds listed below is revised as follows:
The Fund's sales charges will not apply to purchases made by retirement plans
that (i) are sponsored by an employer with at least 100 employees, (ii) have
plan assets of $1 million or more, or (iii) agree to invest at least $500,000
in the Franklin Templeton Funds over a 13 month period. Retirement plans that
are not "designated plans" (as defined in the prospectus) must also meet
the requirements described under "Group Purchases."
2. The Fund's policy regarding purchases at net asset value is revised to add
the following:
The Fund's sales charges, including contingent deferred sales charges, will not
apply to an annuity payment received under either an annuity option or from
death benefit proceeds, PROVIDED THAT the annuity contract offers as one
underlying investment option the Franklin Valuemark Funds, Templeton Variable
Annuity Fund, the Templeton Variable Products Series Fund, or the Franklin
Government Securities Trust. The payment must be returned within 365 days of
its payment date. Shareholders should contact their tax advisor for
information on any tax consequences of these purchases.
FRANKLIN GROUP OF FUNDS(R)
Franklin Equity Fund(R) Dated November 1, 1995,
as amended February 2, 1996,
as supplemented March 1, 1996
Franklin Custodian Funds, Inc.
(Growth, Utilities, DynaTech, Income and
U.S. Government Securities Series)
Dated February 1, 1996, as amended April 3, 1996
Franklin's Income Series
Franklin's U.S. Government Securities Series
Franklin Investment Grade Income Fund
Franklin Strategic Mortgage Portfolio
Dated February 1, 1996, as supplemented March 28, 1996
Franklin Rising Dividends Fund
Dated February 1, 1996, as supplemented March 1, 1996
AGE High Income Fund, Inc.
Dated October 1, 1995, as amended April 8, 1996
Franklin Gold Fund
Dated December 1, 1995, as supplemented March 1, 1996
Franklin Short-Intermediate
U.S. Government Securities Fund
Dated March 1, 1996, as supplemented March 28, 1996
Templeton Pacific Growth Fund
Franklin International Equity Fund
Franklin Adjustable U.S. Government
Securities Fund
Dated March 1, 1996, as supplemented June 18, 1996
Franklin Adjustable Rate Securities Fund
Franklin Convertible Securities Fund
Franklin Equity Income Fund
Franklin Global Government Income Fund
Franklin Balance Sheet Investment Fund
Franklin Templeton German Government Income Fund
Franklin Templeton International
Currency Funds
(Global Currency, Hard Currency
and High Income Currency Funds)
Dated March 1, 1996
Franklin Value Fund
Dated March 11, 1996
Franklin MicroCap Value Fund
Dated December 12, 1995,
as supplemented May 31, 1996
Franklin Small Cap Growth Fund
Dated September 1, 1995,
as amended March 28, 1996
Franklin Natural Resources Fund
Dated June 5, 1995,
as supplemented February 5, 1996
and March 1, 1996
Franklin Premier Return Fund
Dated May 1, 1996
Franklin Real Estate Securities Fund
Dated September 1, 1995, as amended March
19, 1996, as supplemented April 4, 1996
Franklin California Growth Fund
Dated September 1, 1995, as amended January 3,
1996, as supplemented March 1, 1996
Franklin Strategic Income Fund
Dated September 1, 1995, as amended December 19,
1995, as supplemented March 1, 1996
Franklin Global Utilities Fund
Dated September 1, 1995, as amended January 10,
1996, as supplemented March 1, 1996
Franklin Global Health Care Fund
Dated September 1, 1995,
as amended April 18, 1996
TEMPLETON FUNDS
Templeton Growth Fund, Inc.
Templeton World Fund
Dated January 1, 1996,
as supplemented March 1, 1996
Templeton Foreign Fund
Templeton Global Real Estate Fund
Dated January 1, 1996, as amended May 15, 1996
Templeton Global Smaller Companies Fund, Inc.
Dated January 1, 1996,
as supplemented March 1, 1996 and May 15, 1996
Templeton Developing Markets Trust
Templeton American Trust, Inc.
Templeton Global Opportunities Trust
Dated May 1, 1996
Templeton Global Bond Fund
Dated January 1, 1996,
as amended May 15, 1996
Templeton Global Infrastructure Fund
Dated July 10, 1995, amended February 6,
1996, as supplemented March 1, 1996
Templeton Region Funds
Dated May 8, 1995, amended March 21, 1996
Templeton Americas Government
Securities Fund
Dated July 10, 1995,
as supplemented on July 26, 1995,
August 8, 1995, October 2, 1995,
December 5, 1995 , March 1, 1996,
and May 23, 1996
Templeton Growth and Income Fund Dated
July 10, 1995, amended December 6, 1995,
as supplemented March 1, 1996
Franklin Templeton Japan Fund
Dated August 1, 1995, amended February 29, 1996
(Each as may be further amended or supplemented from time-to-time)
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