FUBSGP.DOCo
FRANKLIN GROUP OF FUNDS(R)
TEMPLETON GROUP OF FUNDS
(THE "FRANKLIN TEMPLETON FUNDS")
PROSPECTUS SUPPLEMENT
DATED APRIL 1, 1996
The sales charge table 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 supplemented as follows:
From April 1, 1996 through June 30, 1996, Franklin Templeton Distributors,
Inc. ("Distributors"), the principal underwriter of the Franklin Templeton
Funds, will reallow to the securities firm of First Union Brokerage Services
one-half of Distributors' net underwriting commission with respect to
purchases of any of the listed funds originated by the firm. For example, if
the net underwriting commission retained by Distributors on a total sales
charge of 4.50% is 0.50%, an additional 0.25% will be reallowed to First
Union Brokerage Services.
FRANKLIN GROUP OF FUNDS(R)
FRANKLIN CALIFORNIA TAX-FREE INCOME FUND, INC.
Dated August 1, 1995, as supplemented October 1, 1995
FRANKLIN CALIFORNIA INSURED TAX-FREE INCOME FUND
FRANKLIN CALIFORNIA INTERMEDIATE-TERM TAX-FREE INCOME FUND
Dated November 1, 1995
FRANKLIN EQUITY FUND
Dated November 1, 1995, as amended February 2, 1996, as supplemented March 1,
1996
FRANKLIN RISING DIVIDENDS FUND
FRANKLIN CUSTODIAN FUNDS, INC.
(Growth, Utilities, DynaTech, Income and U.S. Government Securities Series)
Dated February 1, 1996, as supplemented March 1, 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 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
FRANKLIN PACIFIC GROWTH FUND
FRANKLIN INTERNATIONAL EQUITY FUND
FRANKLIN ADJUSTABLE U.S. GOVERNMENT SECURITIES FUND
FRANKLIN ADJUSTABLE RATE SECURITIES FUND
FRANKLIN CONVERTIBLE SECURITIES FUND
FRANKLIN EQUITY INCOME FUND
FRANKLIN GLOBAL GOVERNMENT INCOME 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 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'S AGE HIGH INCOME FUND, INC.
Dated October 1, 1995, as supplemented December 13, 1995 and March 1, 1996
FRANKLIN MUNICIPAL SECURITIES TRUST
(Hawaii, Washington, Tennessee and Arkansas Municipal Bond Funds)
FRANKLIN CALIFORNIA HIGH YIELD MUNICIPAL FUND
Dated October 1, 1995
FRANKLIN NEW YORK TAX-FREE INCOME FUND, INC.
Dated October 1, 1995 as amended February 7, 1996
FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND
FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND
FRANKLIN PARTNERS FUNDS(R)
(FPF - Franklin Tax-Advantaged International Bond, U.S. Government Securities
and High Yield Securities Funds)
Dated May 1, 1995, as supplemented July 26, 1995 and October 1, 1995
FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND
Dated May 1, 1995, as amended December 5, 1995
FRANKLIN FEDERAL TAX-FREE INCOME FUND
Dated September 1, 1995, as supplemented October 1, 1995
FRANKLIN PREMIER RETURN FUND
Dated May 1, 1995, as supplemented October 31, 1995, December 13, 1995 and
March 1, 1996
FRANKLIN REAL ESTATE SECURITIES FUND
Dated September 1, 1995, as amended March 19, 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 supplemented October 1, 1995, December 13, 1995
and March 1, 1996
FRANKLIN TAX-FREE TRUST
(TF1 - Insured, Massachusetts Insured, Michigan Insured, Minnesota Insured,
Ohio Insured, Arizona Insured and Florida Insured Tax-Free Income Funds)
Dated May 1, 1995, as amended January 25, 1996
(TF2 - Alabama, Florida, Georgia, Kentucky, Louisiana, Maryland, Missouri,
North Carolina, Texas and Virginia Tax-Free Income Funds)
Dated May 1, 1995, as amended January 3, 1996
(TF3 - Arizona, Colorado, Connecticut, Indiana, New Jersey, Oregon,
Pennsylvania, Puerto Rico and High Yield Tax-Free Income Funds)
Dated May 1, 1995, as amended December 5, 1995
FRANKLIN MICROCAP VALUE FUND
Dated December 12, 1995, as supplemented March 1, 1996
TEMPLETON FUNDS
TEMPLETON GROWTH FUND, INC.
TEMPLETON WORLD FUND
TEMPLETON FOREIGN FUND
TEMPLETON SMALLER COMPANIES GROWTH FUND, INC.
TEMPLETON REAL ESTATE SECURITIES FUND
TEMPLETON INCOME FUND
Dated January 1, 1996 , as supplemented March 1, 1996
TEMPLETON DEVELOPING MARKETS TRUST
Dated May 1, 1995, amended January 10, 1996, as supplemented March 1, 1996
TEMPLETON GLOBAL INFRASTRUCTURE FUND
Dated July 10, 1995, amended February 6, 1996, as supplemented March 1, 1996
TEMPLETON AMERICAN TRUST, INC.
Dated May 1, 1995, amended December 20, 1995, 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 and March 1, 1996
TEMPLETON GROWTH AND INCOME FUND
Dated July 10, 1995, amended December 6, 1995, as supplemented March 1, 1996
TEMPLETON GLOBAL OPPORTUNITIES TRUST
Dated May 1, 1995, amended 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)
