PROSPECTUS SUPPLEMENT DATED NOVEMBER 13, 1995
INSTITUTIONAL FIDUCIARY TRUST
Money Market Portfolio and Franklin U.S. Government Securities
Money Market Portfolio
Franklin U.S. Government Agency Money Market Fund
Franklin Late Day Money Market Portfolio and Franklin U.S. Treasury Money
Market Portfolio
Franklin Cash Reserves Fund
(each dated November 1, 1995)
(each as may be further supplemented or amended from time to time)
The "How to Buy Shares of the Funds" and "How to Sell Shares of the Funds"
sections are supplemented to include the following:
Holiday Schedule. Each Fund is open for business and its net asset value is
calculated every day that both the Federal Reserve Bank of San Francisco
("San Francisco Fed") and the New York Stock Exchange ("Exchange") are open
for trading. The following holiday closings have been scheduled for 1996: New
Year's Day, Dr. Martin Luther King, Jr. Day , Presidents' Day, Good Friday,
Memorial Day (observed), Independence Day, Labor Day, Columbus Day
(observed), Veterans' Day, Thanksgiving Day and Christmas Day. Although the
Funds expect the same holiday schedule to be observed in the future, the San
Francisco Fed or the Exchange may modify its holiday schedule at any time. On
any day preceding or following an Exchange or San Francisco Fed holiday, or
on any day in which the Public Securities Association recommends an early
closing, each Fund reserves the right to advance the time on that day by
which notice of wire order purchase and wire order redemption orders must be
received in order to receive same day credit or redemption. Investors are
urged to place their trades as early in the day as possible on a day
preceding or following a holiday. To the extent that securities in each
Fund's portfolio are traded in other markets on days the San Francisco Fed or
the Exchange is closed, each Fund's net asset value may be affected when
investors do not have access to the Fund to purchase or redeem shares. Other
Franklin Templeton Funds may follow different holiday closing schedules.
