TL103 STKP1
TL103 STPZ2
PROSPECTUS SUPPLEMENT
DATED JUNE 10, 1997
Templeton Global Smaller Companies Fund, Inc. - Class I and Class II
dated January 1, 1997 as amended March 17, 1997
Templeton Global Smaller Companies Fund, Inc. - Advisor Class
dated January 1, 1997
The discussion under "WHO MANAGES THE FUND? - PORTFOLIO MANAGEMENT" is amended
by replacing it with the following text:
PORTFOLIO MANAGEMENT. The lead portfolio manager of the Fund since June 1997 is
Peter A. Nori. Mr. Nori is a vice president of TICI. He holds a BS in finance
and an MBA with an emphasis in finance from the University of San Francisco.
He is a Chartered Financial Analyst and a member of the Association for
Investment Management and Research. Mr. Nori joined Franklin in 1987 and
completed Franklin's management training program before moving into portfolio
research in 1990 as an equity analyst and becoming the co-portfolio manager of
the Franklin Convertible Securities Fund. In 1994, he joined the Templeton
organization as a research analyst specializing in small-cap companies. Mr.
Nori currently manages several separate accounts and a variable annuity product.
He has global research responsibilities for the steel and data processing
industries, and country coverage of Austria.
Simon Rudolph exercises secondary portfolio management responsibilities for the
Fund. Mr. Rudolph is a vice president of TICI. He holds a BA in economic history
from Durham University in England, and is a Chartered Accountant and a member of
the Institute of Chartered Accountants of England and Wales. Mr. Rudolph has
been a securities analyst since 1986. Before joining the Franklin Templeton
organization in 1997, he was an executive director with Morgan Stanley and was
responsible for analysis of continental European insurance companies. Currently,
Mr. Rudolph has research responsibilities for the shipping industry, small-cap
Asian companies and country coverage of India.
