SUPPLEMENT TO THE PROSPECTUSES DATED JANUARY 1, 1997
INSTITUTIONAL FIDUCIARY TRUST
MONEY MARKET PORTFOLIO
FRANKLIN U.S. GOVERNMENT SECURITIES MONEY MARKET PORTFOLIO
FRANKLIN U.S. TREASURY MONEY MARKET PORTFOLIO
FRANKLIN INSTITUTIONAL ADJUSTABLE U.S. GOVERNMENT SECURITIES FUND
FRANKLIN INSTITUTIONAL ADJUSTABLE RATE SECURITIES FUND
FRANKLIN U.S. GOVERNMENT AGENCY MONEY MARKET FUND
FRANKLIN CASH RESERVES FUND
DATED NOVEMBER 1, 1996
As of January 1, 1997, certain Franklin Templeton Funds began offering a new
class of shares, designated "Advisor Class." Advisor Class shares of any
Franklin Templeton Fund may be exchanged for shares of the Fund. Beginning on or
about May 1, 1997, Class Z shares of Franklin Mutual Series Fund Inc. may also
be exchanged for shares of the Fund.
The discussion under "May I Exchange Shares for Shares of Another Fund? -
Exchange Restrictions" is amended by replacing the first restriction with the
following text:
You may only exchange shares within the same class.*
*Because the Fund does not offer Advisor Class shares, Advisor Class shares of
any Franklin Templeton Fund may be exchanged for shares of the Fund at Net Asset
Value. Beginning on or about May 1, 1997, Class Z shares of Mutual Series may
also be exchanged into shares of the Fund.
January 1, 1997
