PROSPECTUS SUPPLEMENT
FRANKLIN GROUP OF FUNDS
TEMPLETON GROUP OF FUNDS
DATED MAY 1, 1995
Supplement to the sales charge table in the section "How to Buy Shares of the
Fund(s)" of the prospectuses for the Franklin Templeton Funds which follow:
During the period May 1, 1995 through October 31, 1995, Franklin Templeton
Distributors, Inc. ("Distributors"), the principal underwriter of the above
funds, will reallow to the securities firm of BA Investment Services one-half
of Distributors net underwriting commission with respect to purchases of any
of the listed funds originated by BA Investment Services. 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 BA Investment
Services.
FRANKLIN GROUP OF FUNDS
Franklin Federal Intermediate Tax-Free Income Fund
Franklin Federal Tax-Free Income Fund
Franklin New York Insured Tax-Free Income Fund
Franklin New York Intermediate-Term Tax Free Income Fund
Franklin Partners Funds
(FPF - Franklin Tax-Advantaged International Bond, U.S. Government Securities
and High Yield Securities Funds),
Franklin Premier Return Fund,
Franklin Tax-Free Trust
(TF1 - Insured, Massachusetts Insured, Michigan Insured, Minnesota Insured,
Ohio Insured, Arizona Insured and Florida Insured Tax-Free Income Funds)
(TF2 - Alabama, Florida, Georgia, Kentucky, Louisiana, Maryland, Missouri,
North Carolina, Texas and Virginia Tax-Free Income Funds)
(TF3 - Arizona, Colorado, Connecticut, Indiana, New Jersey, Ohio, Oregon,
Pennsylvania, Puerto Rico and High Yield Tax-Free Income Funds)
each dated May 1, 1995
Franklin California Tax-Free Income Fund, Inc.,
dated August 1, 1994
Franklin California Insured Tax-Free Income Fund
dated November 1, 1995
Franklin Custodian Funds, Inc.
(FCF - Growth, Utilities, DynaTech, Income And U.S. Government Securities
Series)
and the separate prospectuses for Income Series and U.S. Government Securities
Series
each dated February 1, 1995
Franklin Equity Fund, dated November 1, 1994
Franklin Gold Fund, dated December 1, 1994
Franklin New York Tax-Free Income Fund, Inc.,
dated October 1, 1994
Franklin Real Estate Securities Fund,
dated September 1, 1994
Franklin Rising Dividends Fund,
dated February 1, 1995
each as amended May 1, 1995
Franklin Adjustable Rate Securities Fund
Franklin Adjustable U.S. Government Securities Fund
Franklin Balance Sheet Investment Fund
Franklin Convertible Securities Fund
Franklin Equity Income Fund
Franklin Global Government Income Fund
Franklin International Equity Fund
Franklin Pacific Growth Fund
Franklin Short-Intermediate U.S. Government Securities Fund
Franklin Templeton German Government Bond Fund
Franklin Templeton International Currency Funds
(Global, High and High Income Currency Funds)
EACH DATED MARCH 1, 1995
Age High Income Fund Fund, Inc., dated October 1, 1994 Franklin California
High Yield Municipal Fund,
dated October 1, 1994
Franklin California Growth Fund, dated September 1, 1994, as amended November
11, 1994
Franklin Corporate Qualified Dividend Fund,
dated February 1, 1995
Franklin Global Utilities Fund
dated September 1, 1994, as amended December 30, 1994
Franklin Investment Grade Income Fund, dated February 1, 1995
Franklin Municipal Securities Trust
(Hawaii, Washington, Tennessee and Arkansas Municipal Bond Funds),
dated October 1, 1994
Franklin Small Cap Growth Fund
dated September 1, 1994
Franklin Strategic Income Fund
dated December 30, 1994
(each as supplemented February 1, 1995)
Franklin Strategic Mortgage Portfolio
dated February 1, 1995
Franklin California Intermediate-Term Tax-Free Income Fund, dated November 1,
1994, as amended March 17, 1995
(EACH AS MAY BE FURTHER AMENDED AND SUPPLEMENTED FROM TIME-TO-TIME)
TEMPLETON GROUP OF FUNDS
Templeton Developing Markets Trust
Templeton Foreign Fund
Templeton Growth Fund
Templeton Global Infrastructure Fund
Templeton Global Opportunities Trust
Templeton Global Rising Dividends Fund
Templeton Income Fund
Templeton Smaller Companies Growth Fund, Inc.
Templeton Real Estate Securities Fund
Templeton World Fund
dated May 1, 1995
Templeton Americas Government Securities Fund
dated June 27, 1994 (as previously supplemented on April 6, 1995)
Franklin Templeton Japan Fund
dated July 28, 1994 (as previously supplemented on January 25, 1995 and April
15, 1995)
(EACH AS MAY BE FURTHER AMENDED AND SUPPLEMENTED FROM TIME-TO-TIME)
