158 STKP1
482 STKP
SUPPLEMENT DATED APRIL 21, 1998
TO THE PROSPECTUSES OF
FRANKLIN RISING DIVIDENDS FUND
DATED FEBRUARY 1, 1998
FRANKLIN VALUE FUND
DATED MARCH 1, 1998
The prospectus is amended as follows:
I. The section "Who Manages the Fund? - Management Team" is revised to add
Gerard P. Sullivan to the management team, effective March 1998, and to add the
following:
Gerard P. Sullivan
Portfolio Manager of Advisory Services
Mr. Sullivan holds a Master of Business Administration degree in Finance and
Accounting from the Columbia Graduate School of Business and a Bachelor of Arts
degree in Political Science from Columbia University. He has been with the
Franklin Templeton Group since March 1998. Previously, he was a Portfolio
Manager for SunAmerica Asset Management from February 1995 to February 1998 and
a Portfolio Manager for Texas Commerce Investment Management & Co. from July
1993 to February 1995.
II. The following definition is revised in the "Useful Terms and Definitions"
section:
CONTINGENCY PERIOD - For Class I shares, the 12 month period during which a
Contingent Deferred Sales Charge may apply. For Class II shares, the
contingency period is 18 months. The holding period for Class I begins on the
first day of the month in which you buy shares. Regardless of when during the
month you buy Class I shares, they will age one month on the last day of that
month and each following month. The holding period for Class II begins on the
day you buy your shares. For example, if you buy Class II shares on the 18th of
the month, they will age one month on the 18th day of the next month and each
following month.
