SUPPLEMENT TO THE PROSPECTUS
Prospectus Dated May 1, 1995
Templeton Smaller Companies Growth Fund, Inc.
The discussion under "MANAGEMENT OF THE FUND - INVESTMENT MANAGER" is amended by
deleting the first four sentences of the fourth paragraph and inserting the
following text:
The lead portfolio manager for the Fund is Marc S. Joseph. Mr. Joseph
joined the Investment Manager in 1993 as a Vice President. Prior to
joining the Templeton organization, he served as a vice president of
Pacific Financial Research and a management consultant for
McKinsey & Co. He holds a B.S. in Computer Science from the College
of William & Mary and an MBA from Harvard Business School, where he
graduated as a Baker Scholar. Mr. Joseph is also a MAGNA CUM LAUDE
graduate of the Harvard Law School, where he was an editor of
the HARVARD LAW REVIEW.
July 27, 1995 TL103 STKR 07/95
