PROSPECTUS SUPPLEMENT
FRANKLIN GROUP OF FUNDS
TEMPLETON GROUP OF FUNDS
DATED MAY 1, 1995
Supplement to the sales charge table in the section "How to Buy
Shares of the Fund(s)" of the prospectuses for the Franklin
Templeton Funds which follow:
During the period May 1, 1995 through October 31, 1995, Franklin
Templeton Distributors, Inc. ("Distributors"), the principal
underwriter of the above funds, will reallow to the securities
firm of BA Investment Services one-half of Distributors net
underwriting commission with respect to purchases of any of the
listed funds originated by BA Investment Services. For example if
the net underwriting commission retained by Distributors on a
total sales charge of 4.50% is 0.50%, an additional 0.25% will be
reallowed to BA Investment Services.
FRANKLIN GROUP OF FUNDS
Franklin Federal Intermediate Tax-Free Income Fund
Franklin Federal Tax-Free Income Fund
Franklin New York Insured Tax-Free Income Fund
Franklin New York Intermediate-Term Tax Free Income Fund
Franklin Partners Funds
(FPF - Franklin Tax-Advantaged International Bond, U.S.
Government Securities and High Yield Securities Funds),
Franklin Premier Return Fund,
Franklin Tax-Free Trust
(TF1 - Insured, Massachusetts Insured, Michigan Insured,
Minnesota Insured, Ohio Insured, Arizona Insured and Florida
Insured Tax-Free Income Funds)
(TF2 - Alabama, Florida, Georgia, Kentucky, Louisiana, Maryland,
Missouri, North Carolina, Texas and Virginia Tax-Free Income
Funds)
(TF3 - Arizona, Colorado, Connecticut, Indiana, New Jersey, Ohio,
Oregon, Pennsylvania, Puerto Rico and High Yield Tax-Free Income
Funds)
each dated May 1, 1995
Franklin California Tax-Free Income Fund, Inc.,
dated August 1, 1994
Franklin California Insured Tax-Free Income Fund
dated November 1, 1995
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
each dated February 1, 1995
Franklin Equity Fund, dated November 1, 1994
Franklin Gold Fund, dated December 1, 1994
Franklin New York Tax-Free Income Fund, Inc.,
dated October 1, 1994
Franklin Real Estate Securities Fund,
dated September 1, 1994
Franklin Rising Dividends Fund,
dated February 1, 1995
each as amended May 1, 1995
Franklin Adjustable Rate Securities Fund
Franklin Adjustable U.S. Government Securities Fund
Franklin Balance Sheet Investment Fund
Franklin Convertible Securities Fund
Franklin Equity Income Fund
Franklin Global Government Income Fund
Franklin International Equity Fund
Franklin Pacific Growth Fund
Franklin Short-Intermediate U.S. Government Securities Fund
Franklin Templeton German Government Bond Fund
Franklin Templeton International Currency Funds
(Global, High and High Income Currency Funds)
each dated March 1, 1995
Age High Income Fund Fund, Inc., dated October 1, 1994 Franklin
California High Yield Municipal Fund,
dated October 1, 1994
Franklin California Growth Fund, dated September 1, 1994, as
amended November 11, 1994
Franklin Corporate Qualified Dividend Fund,
dated February 1, 1995
Franklin Global Utilities Fund
dated September 1, 1994, as amended December 30, 1994
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 Small Cap Growth Fund
dated September 1, 1994
Franklin Strategic Income Fund
dated December 30, 1994
(each as supplemented February 1, 1995)
Franklin Strategic Mortgage Portfolio
dated February 1, 1995
Franklin California Intermediate-Term Tax-Free Income Fund, dated
November 1, 1994, as amended March 17, 1995
(each as may be further amended and supplemented from time-to-
time)
TEMPLETON GROUP OF FUNDS
Templeton Developing Markets Trust
Templeton Foreign Fund
Templeton Growth Fund
Templeton Global Infrastructure Fund
Templeton Global Opportunities Trust
Templeton Global Rising Dividends Fund
Templeton Income Fund
Templeton Smaller Companies Growth Fund, Inc.
Templeton Real Estate Securities Fund
Templeton World Fund
dated May 1, 1995
Templeton Americas Government Securities Fund
dated June 27, 1994 (as previously supplemented on April 6, 1995)
Franklin Templeton Japan Fund
dated July 28, 1994 (as previously supplemented on January 25,
1995 and April 15, 1995)
(each as may be further amended and supplemented from time-to-
time)
