FRANKLIN HIGH INCOME TRUST
497, 1998-04-21
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105 STKP
112 STKP1
FIST1 STKP
FTIT STKP

                         SUPPLEMENT DATED APRIL 21, 1998
                             TO THE PROSPECTUSES OF

                         FRANKLIN'S AGE HIGH INCOME FUND
                              DATED OCTOBER 1, 1997
                            AS AMENDED MARCH 23, 1998

                    FRANKLIN CALIFORNIA TAX-FREE INCOME FUND
                              DATED AUGUST 1, 1997
                            AS AMENDED APRIL 6, 1998

                       FRANKLIN INVESTORS SECURITIES TRUST
              (FIST1 - GLOBAL GOVERNMENT INCOME, SHORT-INTERMEDIATE
   U.S. GOVERNMENT SECURITIES, CONVERTIBLE SECURITIES AND EQUITY INCOME FUNDS)
                     FRANKLIN TEMPLETON INTERNATIONAL TRUST
                               DATED MARCH 1, 1998

The  prospectus  is amended to revise the  following  definition  in the "Useful
Terms and Definitions" section:

 CONTINGENCY  PERIOD - For Class I shares,  the 12 month  period  during which a
 Contingent   Deferred  Sales  Charge  may  apply.  For  Class  II  shares,  the
 contingency  period is 18 months.  The holding period for Class I begins on the
 first day of the month in which you buy shares.  Regardless  of when during the
 month you buy  Class I shares,  they will age one month on the last day of that
 month and each following  month.  The holding period for Class II begins on the
 day you buy your shares. For example, if you buy Class II shares on the 18th of
 the  month,  they will age one month on the 18th day of the next month and each
 following month.



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