PROSPECTUS SUPPLEMENT
FRANKLIN GROUP OF FUNDS(R)
TEMPLETON GROUP OF FUNDS
DATED JULY 26, 1995
The section "Purchases at Net Asset Value" under "How to Buy Shares of the Fund"
of the Franklin Templeton Funds (as such term is defined in the Prospectus) is
modified in the following respects:
1. Substitute the following text for paragraph four:
"Class I shares may be purchased at net asset value and without the
imposition of a contingent deferred sales charge by investors who have,
within the past 60 days, redeemed an investment in a mutual fund which
is not part of the Franklin Templeton Funds which was subject to a
front-end sales charge or a contingent deferred sales charge and which
has investment objectives similar to those of the Fund."
2. The period in which investors may reinvest at net asset value is increased to
365 days from 120 days. This privilege extends to reinvestment of redemption
proceeds, dividends and capital gain distributions initially paid in cash and,
for a taxable fund, any distributions from an existing retirement account which
was already invested in the Franklin Templeton Funds, including participants of
the Franklin Templeton Profit Sharing 401(k) plan.
FRANKLIN GROUP OF FUNDS(R)
Franklin New York Tax-Free Income Fund, Inc.,
dated October 1, 1994, as amended July 14, 1995
Franklin Balance Sheet Investment Fund, dated March 1, 1995, as amended July 5,
1995
Franklin Natural Resources Fund, dated June 5, 1995
Franklin Custodian Funds, Inc.
(FCF - group prospectus for 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, as amended
June 1, 1995)
AGE High Income Fund, Inc., dated May 15, 1995
Franklin Federal Intermediate-Term 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(R)
(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) (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, 1994 Franklin Real
Estate Securities Fund, dated September 1, 1994 Franklin Global Government
Income Fund, dated March 1, 1995
Franklin Global Utilities Fund, dated September 1, 1994, as amended December 30,
1994
(each as amended May 1, 1995)
Franklin Adjustable Rate Securities Fund
Franklin Adjustable U.S. Government Securities Fund
Franklin Convertible Securities Fund
Franklin Equity Income Fund
Franklin International Equity Fund
Franklin Short-Intermediate U.S. Government Securities Fund
Franklin Templeton German Government Bond Fund
Franklin Templeton International Currency Funds
(Global, Hard and High Income Currency Funds)
(each dated March 1, 1995)
Franklin California High Yield Municipal Fund,
dated October 1, 1994
Franklin California Growth Fund, dated September 1, 1994, as amended November
11, 1994 Franklin Global Health Care Fund, dated September 1, 1994 Franklin
Investment Grade Income Fund, dated February 1, 1995 Frankln Corporate Qualified
Dividend Fund, dated February 1, 1995 Franklin Municipal Securities Trust
(Hawaii, Washington, Tennessee and Arkansas Municipal Bond Funds), dated October
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 Small Cap Growth Fund, dated September 1, 1994, as amended February 1,
1995
(each as may be further amended and supplemented from time to time)
TEMPLETON GROUP OF FUNDS
Templeton Americas Government Securities Fund
dated July 10, 1995
Templeton Developing Markets Trust
Templeton Growth Fund
Templeton Income Fund
Templeton Smaller Companies Growth Fund, Inc.
(each dated May 1, 1995)
Templeton Real Estate Securities Fund
Templeton World Fund
dated May 1, 1995 (as previously supplemented on May 25, 1995)
Franklin Templeton Japan Fund
dated July 28, 1994 (as previously supplemented on May 25, 1995)
(each as may be further amended and supplemented from time to time)
