SUPPLEMENT DATED MAY 1, 1997
TO THE PROSPECTUS OF
Franklin California Tax-Free Trust
(Franklin California Insured
Tax-Free Income Fund and Franklin
California Tax-Exempt Money Fund)
dated November 1, 1996
I. Effective June 1, 1997, the section "Sales Charge Waivers" under "How Do I
Buy Shares? - Insured Fund - Sales Charge Reductions and Waivers" is amended to
delete category 4, in its entirety.
II. The following paragraph is added under "How Do I Sell Shares?":
Beginning on or about May 1, 1997, you will automatically be able to redeem
shares by telephone without completing a telephone redemption agreement. Please
notify us in writing if you do not want this option to be available on your
account. If you later decide you would like this option, send us written
instructions signed by all account owners, with a signature guarantee.
