TLGOF STKP
SUPPLEMENT DATED FEBRUARY 1, 1998
TO THE PROSPECTUSES OF
TEMPLETON AMERICAN TRUST
TEMPLETON DEVELOPING MARKETS TRUST
TEMPLETON GLOBAL OPPORTUNITIES TRUST
DATED MAY 1, 1997
TEMPLETON GLOBAL INFRASTRUCTURE FUND
TEMPLETON GROWTH AND INCOME FUND
DATED AUGUST 1, 1997
TEMPLETON FOREIGN FUND
TEMPLETON GLOBAL BOND FUND
TEMPLETON GLOBAL REAL ESTATE FUND
TEMPLETON GLOBAL SMALLER COMPANIES FUND, INC.
TEMPLETON GROWTH FUND
TEMPLETON WORLD FUND
DATED JANUARY 1, 1998
The prospectus is amended as follows:
I. The following paragraph is added to the end of the section "Group Purchases -
Class I Only" found under "How Do I Buy Shares? - Sales Charge Reductions and
Waivers":
A qualified group does not include a 403(b) plan that only allows salary
deferral contributions. 403(b) plans that only allow salary deferral
contributions and that purchased Class I shares of the Fund at a reduced sales
charge under the group purchase privilege before February 1, 1998, however, may
continue to do so.
II. The section "Retirement Plans," found under "How Do I Buy Shares? - Sales
Charge Reductions and Waivers," is replaced in its entirety with the following:
RETIREMENT PLANS. Retirement plans that (i) are sponsored by an employer with at
least 100 employees, or (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 may buy Class I shares without a front-end sales charge. Retirement
plans that are not Qualified Retirement Plans, SIMPLEs or SEPs must also meet
the requirements described under "Group Purchases - Class I Only" above to be
able to buy Class I shares without a front-end sales charge. We may enter into a
special arrangement with a Securities Dealer, based on criteria established by
the Fund, to add together certain small Qualified Retirement Plan accounts for
the purpose of meeting these requirements.
For retirement plan accounts opened on or after May 1, 1997, a Contingent
Deferred Sales Charge may apply if the retirement plan is transferred out of the
Franklin Templeton Funds or terminated within 365 days of the retirement plan
account's initial purchase in the Franklin Templeton Funds. Please see "How Do I
Sell Shares? - Contingent Deferred Sales Charge" for details.
Any retirement plan that does not meet the requirements to buy Class I shares
without a front-end sales charge and that was a shareholder of the Fund on or
before February 1, 1995, may buy shares of the Fund subject to a maximum sales
charge of 4% of the Offering Price, 3.2% of which will be retained by Securities
Dealers.
III. The following replaces the second paragraph under "How Do I Sell Shares? -
Contingent Deferred Sales Charge":
Certain retirement plan accounts opened on or after May 1, 1997, and that
qualify to buy Class I shares without a front-end sales charge may also be
subject to a Contingent Deferred Sales Charge if the retirement plan is
transferred out of the Franklin Templeton Funds or terminated within 365 days of
the account's initial purchase in the Franklin Templeton Funds.
IV. The following definition is added to the "Useful Terms and Definitions"
section:
SIMPLE (Savings Incentive Match Plan for Employees) - An employer sponsored
salary deferral plan established under section 408(p) of the Code
