PROSPECTUS SUPPLEMENT
DATED MAY 1, 1997
Templeton Global Infrastucture Fund - Class I and Class
II dated August 1, 1996
Templeton Foreign Fund - Advisor Class
Templeton Growth Fund, Inc. - Advisor Class
Templeton Global Bond Fund - Advisor Class
Templeton Global Smaller Companies Fund, Inc. - Advisor Class
dated January 1, 1997
I . The discussion under "HOW DO I SELL SHARES?" is amended by replacing the
chart and first paragraph with the following text:
You may sell(redeem) your shares at any time.
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METHOD STEPS TO FOLLOW
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BY MAIL 1. Send us written instructions signed by all
account owners. If you would like your redemption
proceeds wired to a bank account, your instructions
should include:
The name, address and telephone number of the
bank where you want the proceeds sent
Your bank account number
The Federal Reserve ABA routing number
If you are using a savings and loan or credit
union, the name of the corresponding bank and the
account number
2. Include any outstanding share certificates for
the shares you are selling
3. Provide a signature guarantee if required
4. Corporate, partnership and trust accounts may
need to send additional documents. Accounts under
court jurisdiction may have other requirements.
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BY PHONE Call Shareholder Services. If you would like your
redemption proceeds wired to a bank account, other
than an escrow account, you must first sign up for
the wire feature. To sign up, send us written
instructions, with a signature guarantee. To avoid
any delay in processing, the instructions should
include the items listed in "By Mail" above.
Telephone requests will be accepted:
If the request is $50,000 or less. Institutional
accounts may exceed $50,000 by completing a
separate agreement. Call Institutional Services to
receive a copy.
If there are no share certificates issued for the
shares you want to sell or you have already
returned them to the Fund
Unless you are selling shares in a Trust Company
retirement plan account
Unless the address on your account was changed
by phone within the last 15 days
If you do not want the ability to redeem by phone to
apply to your account, please let us know.
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THROUGH YOUR DEALER Call your investment representative
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We will send your redemption check within seven days after we receive your
request in proper form. If you would like the check sent to an address other
than the address of record or made payable to someone other than the registered
owners on the account, send us written instructions signed by all account
owners, with a signature guarantee. We are not able to receive or pay out cash
in the form of currency.
The wiring of redemption proceeds is a special service that we make available
whenever possible for redemption requests of $1,000 or more. If we receive your
request in proper form before 4:00 p.m. Eastern time, your wire payment will be
sent the next business day. For requests received in proper form after 4:00 p.m.
Eastern time, the payment will be sent the second business day. By offering this
service to you, the Fund is not bound to meet any redemption request in less
than the seven day period prescribed by law. Neither the Fund nor its agents
shall be liable to you or any other person if, for any reason, a redemption
request by wire is not processed as described in this section.
II . The following paragraph is added under "WHAT ARE THE FUND'S POTENTIAL
RISKS?":
Hong Kong is scheduled to revert to the sovereignty of China on July 1, 1997. As
with any major political transfer of power, this could result in political,
social, economic, market or other developments in Hong Kong, China or other
countries that could affect the value of Fund investments.
