I+GOF STKP1
SUPPLEMENT DATED NOVEMBER 17, 1997
TO THE PROSPECTUSES OF
Franklin Gold Fund
dated December 1, 1996
Templeton Global Real Estate Fund
Templeton Growth Fund, Inc.
Templeton Pacific Growth Fund
dated January 1, 1997
Templeton Global Smaller Companies Fund, Inc.
dated January 1, 1997, as amended March 17, 1997
Templeton World Fund
dated January 1, 1997, as amended March 19, 1997
Templeton Foreign Fund
dated January 1, 1997, as amended April 4, 1997
Templeton Global Bond Fund
dated January 1, 1997, as amended September 2, 1997
Franklin Custodian Funds, Inc.
Franklin Rising Dividends Fund
U.S. Government Securities Series
Income Series
dated February 1, 1997
Franklin Convertible Securities Fund
Franklin Equity Income Fund
Franklin Global Government Income Fund
Franklin Value Fund
dated March 1, 1997
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Templeton American Trust, Inc.
Templeton Developing Markets Trust
Templeton Global Opportunities Trust
dated May 1, 1997
Franklin Mutual Series Fund, Inc.
dated May 1, 1997, as amended August 19, 1997
Templeton Global Infrastructure Fund
Templeton Growth and Income Fund
Templeton Region Funds
dated August 1, 1997
Franklin California Growth Fund
Franklin Global Health Care Fund
Franklin Global Utilities Fund
Franklin Real Estate Securities Fund
Franklin Small Cap Growth Fund
dated September 1, 1997
Franklinis AGE High Income Fund
dated October 1, 1997
Franklin Equity Fund
dated November 1, 1997
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The prospectus is amended as follows:
I. The first two paragraphs and the first waiver category in the section "Sales
Charge Waivers," found under "How Do I Buy Shares? - Sales Charge Reductions and
Waivers," are replaced with the following:
Sales Charge Waivers.+If one of the following sales charge waivers applies to
you or your purchase of Fund shares, you may buy shares of the Fund without a
front-end sales charge or a Contingent Deferred Sales Charge. All of the sales
charge waivers listed below apply to purchases of Class I shares only, except
for items 1 and 4 which also apply to Class II purchases.
Certain distributions, payments or redemption proceeds that you receive may
be used to buy shares of the Fund without a sales charge if you reinvest them
within 365 days of their payment or redemption date. They include:
1. Dividend and capital gain distributions from any Franklin Templeton Fund
or a real estate investment trust (REIT) sponsored or advised by Franklin
Properties, Inc. The distributions generally must be reinvested in the same
class of shares. Certain exceptions apply, however, to Class II shareholders
who chose to reinvest their distributions in Class I shares of the Fund before
November 17, 1997, and to Advisor Class or Class Z shareholders of a Franklin
Templeton Fund who may reinvest their distributions in Class I shares of the
Fund.
II. Under "What Distributions Might I Receive from the Fund? - Distribution
Options," the references in the first two paragraphs to the ability of Class II
shareholders to reinvest or direct their distributions to Class I shares of the
Fund or another Franklin Templeton Fund are deleted and the following paragraph
is added to the section:
Distributions may be reinvested only in the same class of shares, except as
follows: (i) Class II shareholders who chose to reinvest their distributions in
Class I shares of the Fund or another Franklin Templeton Fund before November
17, 1997, may continue to do so; and (ii) Class II shareholders may reinvest
their distributions in shares of any Franklin Templeton money fund.
