TFS-P
SUPPLEMENT TO THE PROSPECTUS
DATED MARCH 1, 1995
(each as previously supplemented February 1, 1995 and as may be
further amended and supplemented)
Age High Income Fund Fund
Dated October 1, 1994
Franklin Balance Sheet Investment Fund
Dated March 1, 1995
Franklin California Tax-Free Income Fund, Inc.
Dated August 1, 1994
Franklin California Insured Tax-Free Income Fund
Dated November 1, 1994
Franklin California Intermediate-Term Tax-Free Income Fund, Dated
November 1, 1994
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
All Dated February 1, 1995
Franklin Equity Fund
Dated November 1, 1994, as Amended January 19, 1995
Franklin Federal Tax-Free Income Fund
Dated September 1, 1994
Franklin Gold Fund
Dated December 1, 1994
Franklin Pacific Growth Fund
Dated March 1, 1995
Franklin International Equity Fund
Dated March 1, 1995
Franklin Global Government Income Fund
Dated March 1, 1995
Franklin Short-Intermediate U.S. Government Securities Fund,
Dated March 1, 1995
Franklin Convertible Securities Fund
Dated March 1, 1995
Franklin Adjustable U.S. Government Securities Fund
Dated March 1, 1995
Franklin Equity Income Fund
Dated March 1, 1995
Franklin Adjustable Rate Securities Fund
Dated March 1, 1995
Franklin Corporate Qualified Dividends Fund
Dated February 1, 1995
Franklin Rising Dividends Fund
Dated February 1, 1995
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 California High Yield Municipal Fund
Dated October 1, 1994
Franklin New York Tax-Free Income Fund, Inc.
Dated October 1, 1994
Franklin New York Insured Tax-Free Income Fund
Dated May 1, 1994
Franklin New York Intermediate-Term Tax Free Income Fund
Dated May 1, 1994
Franklin Partners Funds
(FPF - Franklin Tax-Advantaged International Bond, U.S.
Government Securities and High Yield Securities Funds)
Dated May 1, 1994, as Amended October 21, 1994
Franklin Premier Return Fund
Dated May 1, 1994, As Amended September 8, 1994
Franklin Real Estate Securities Fund
Dated September 1, 1994
Franklin Strategic Mortgage Portfolio
Dated February 1, 1995
Franklin California Growth Fund
Dated September 1, 1994, as Amended November 11, 1994
Franklin Strategic Income Fund
Dated December 30, 1994
Franklin Global Utilities Fund
Dated September 1, 1994
Franklin Small Cap Growth Fund
Dated September 1, 1994
Franklin Federal Intermediate Tax-Free Income Fund
Dated July 1, 1994, as amended September 30, 1994
Franklin Tax Free Trust
(TF1 - Insured, Massachusetts Insured, Michigan Insured,
Minnesota Insured, Ohio Insured, Arizona Insured and Florida
Insured Tax-Free Income Funds)
Dated July 1, 1994,
(TF2 - Alabama, Florida, Georgia, Kentucky, Louisiana, Maryland,
Missouri, North Carolina, Texas and Virginia Tax-Free Income
Funds)
Dated July 1, 1994, As Amended October 4, 1994
(TF3 - Arizona, Colorado, Connecticut, Indiana, New Jersey, Ohio,
Oregon, Pennsylvania, Puerto Rico and High Yield Tax-Free Income
Funds)
Dated July 1, 1994, As Amended October 4, 1994
Franklin Templeton German Government Bond Fund
Dated March 1, 1995
Franklin Templeton International Currency Funds
(Global, High and High Income Currency Funds)
Dated March 1, 1995
During the period March 1, 1995 through April 30, 1995, the
securities firm of TFS Securities, Inc., ("TFS") will receive the
full front-end sales commission with respect to purchases
originated by TFS, from Franklin Templeton Distributors, Inc.,
the principal underwriter for the above funds.
