PAGE
PAGE 1
000 B000000 08/31/98
000 C000000 805664
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000 J000000 A
001 A000000 TEMPLETON GROWTH FUND, INC.
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PAGE
PAGE 2
008 A000001 TEMPLETON GLOBAL ADVISORS LIMITED
008 B000001 A
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008 D010001 NASSAU
008 D050001 BAHAMAS
010 A000001 FRANKLIN TEMPLETON SERVICES INC.
010 B000001 8-00000
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011 B000001 8-5889
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PAGE
PAGE 3
014 B000001 8-5889
015 A000001 THE CHASE MANHATTAN BANK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10081
015 E010001 X
015 A000002 THE CHASE MANHATTAN BANK
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015 C010002 BUENOS AIRES
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PAGE
PAGE 4
015 C010009 TORONTO
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PAGE
PAGE 5
015 E040018 X
015 A000019 CITIBANK BUDAPEST RT.
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PAGE
PAGE 6
015 D020027 01210
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PAGE
PAGE 7
015 D010036 CHINA
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PAGE
PAGE 8
015 D010045 SWITZERLAND
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PAGE
PAGE 9
015 D010054 LUXEMBOURG
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015 A000059 BARCLAYS BANK OF KENYA
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015 A000061 BARCLAYS BANK PLC
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015 A000062 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
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015 A000063 DEUTSCHE BANK A.G.
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PAGE
PAGE 10
015 E040064 X
015 A000065 THE BRITISH BANK OF THE MIDDLE EAST
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015 A000066 STANBIC BANK OF SWAZILAND LTD
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015 A000067 EUROCLEAR OPERATIONS CENTRE
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015 C010067 BRUSSELS
015 D010067 BELGIUM
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015 A000068 CITIBANK N.A.
015 B000068 S
015 C010068 QUITO
015 D010068 ECUADOR
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015 A000069 THE BANK OF BERMUDA LTD
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015 A000073 ING BANK
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PAGE
PAGE 11
020 A000001 GOLDMAN SACHS
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PAGE
PAGE 12
022 A000006 PRUDENTIAL BACHE SEC.
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PAGE
PAGE 13
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PAGE
PAGE 14
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PAGE
PAGE 15
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PAGE
PAGE 16
070 J010000 Y
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PAGE
PAGE 17
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PAGE
PAGE 18
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SIGNATURE /s/JAMES R. BAIO
James R. Baio
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Templeton Growth Fund August 31, 1998 Annual Report and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000805664
<NAME> TEMPLETON GROWTH FUND, INC.
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<NAME> TEMPLETON GROWTH FUND, INC.- CLASS I
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<EXPENSES-NET> (160253266)
<NET-INVESTMENT-INCOME> 352041372
<REALIZED-GAINS-CURRENT> 1794895388
<APPREC-INCREASE-CURRENT> (3948921534)
<NET-CHANGE-FROM-OPS> (1801984774)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (309635887)
<DISTRIBUTIONS-OF-GAINS> (1624126003)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 162377765
<NUMBER-OF-SHARES-REDEEMED> (123878907)
<SHARES-REINVESTED> 84313094
<NET-CHANGE-IN-ASSETS> (888914662)
<ACCUMULATED-NII-PRIOR> 243486766
<ACCUMULATED-GAINS-PRIOR> 1388600548
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (86332815)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (160253266)
<AVERAGE-NET-ASSETS> 13213631176
<PER-SHARE-NAV-BEGIN> 22.47
<PER-SHARE-NII> .50
<PER-SHARE-GAIN-APPREC> (2.76)
<PER-SHARE-DIVIDEND> (.55)
<PER-SHARE-DISTRIBUTIONS> (2.88)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.78
<EXPENSE-RATIO> 1.08
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Templeton Growth Fund August 31, 1998 Annual Report and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000805664
<NAME> TEMPLETON GROWTH FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> TEMPLETON GROWTH FUND, INC.- CLASS II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-END> AUG-31-1998
<INVESTMENTS-AT-COST> 13942422201
<INVESTMENTS-AT-VALUE> 12069248009
<RECEIVABLES> 64531447
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 12133779456
<PAYABLE-FOR-SECURITIES> 45702869
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 62992963
<TOTAL-LIABILITIES> 108695832
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 12183498977
<SHARES-COMMON-STOCK> 52878215
<SHARES-COMMON-PRIOR> 34049448
<ACCUMULATED-NII-CURRENT> 268936336
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1445822503
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1873174192)
<NET-ASSETS> 12025083624
<DIVIDEND-INCOME> 312010645
<INTEREST-INCOME> 200283993
<OTHER-INCOME> 0
<EXPENSES-NET> (160253266)
<NET-INVESTMENT-INCOME> 352041372
<REALIZED-GAINS-CURRENT> 1794895388
<APPREC-INCREASE-CURRENT> (3948921534)
<NET-CHANGE-FROM-OPS> (1801984774)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16109670)
<DISTRIBUTIONS-OF-GAINS> (109111611)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 21887098
<NUMBER-OF-SHARES-REDEEMED> (8429791)
<SHARES-REINVESTED> 5371460
<NET-CHANGE-IN-ASSETS> (888914662)
<ACCUMULATED-NII-PRIOR> 243486766
<ACCUMULATED-GAINS-PRIOR> 1388600548
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (86332815)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (160253266)
<AVERAGE-NET-ASSETS> 948697716
<PER-SHARE-NAV-BEGIN> 22.18
<PER-SHARE-NII> .38
<PER-SHARE-GAIN-APPREC> (2.77)
<PER-SHARE-DIVIDEND> (.42)
<PER-SHARE-DISTRIBUTIONS> (2.88)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.49
<EXPENSE-RATIO> 1.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Templeton Growth Fund August 31, 1998 Annual Report and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000805664
<NAME> TEMPLETON GROWTH FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> TEMPLETON GROWTH FUND, INC.-ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-END> AUG-31-1998
<INVESTMENTS-AT-COST> 13942422201
<INVESTMENTS-AT-VALUE> 12069248009
<RECEIVABLES> 64531447
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 12133779456
<PAYABLE-FOR-SECURITIES> 45702869
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 62992963
<TOTAL-LIABILITIES> 108695832
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 12183498977
<SHARES-COMMON-STOCK> 2160456
<SHARES-COMMON-PRIOR> 1313073
<ACCUMULATED-NII-CURRENT> 268936336
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1445822503
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1873174192)
<NET-ASSETS> 12025083624
<DIVIDEND-INCOME> 312010645
<INTEREST-INCOME> 200283993
<OTHER-INCOME> 0
<EXPENSES-NET> (160253266)
<NET-INVESTMENT-INCOME> 352041372
<REALIZED-GAINS-CURRENT> 1794895388
<APPREC-INCREASE-CURRENT> (3948921534)
<NET-CHANGE-FROM-OPS> (1801984774)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (846245)
<DISTRIBUTIONS-OF-GAINS> (4067274)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1306769
<NUMBER-OF-SHARES-REDEEMED> (694766)
<SHARES-REINVESTED> 235380
<NET-CHANGE-IN-ASSETS> (888914662)
<ACCUMULATED-NII-PRIOR> 243486766
<ACCUMULATED-GAINS-PRIOR> 1388600548
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (86332815)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (160253266)
<AVERAGE-NET-ASSETS> 38973622
<PER-SHARE-NAV-BEGIN> 22.49
<PER-SHARE-NII> .56
<PER-SHARE-GAIN-APPREC> (2.78)
<PER-SHARE-DIVIDEND> (.59)
<PER-SHARE-DISTRIBUTIONS> (2.88)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.80
<EXPENSE-RATIO> 0.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
The Board of Directors and Shareholders
Templeton Growth Fund, Inc.
In planning and performing our audit of the financial statements of Templeton
Growth Fund, Inc. for the year ended August 31, 1998, we considered its internal
control, including controls over safeguarding securities, in order to determine
our auditing procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form N-SAR, not to
provide assurance on internal control.
The management of Templeton Growth Fund, Inc. is responsible for establishing
and maintaining internal control. In fulfilling this responsibility, estimates
and judgments by management are required to assess the expected benefits and
related costs of controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally accepted
accounting principles. Those controls include safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and may not be detected. Also, projection of any evaluation of internal control
to future periods is subject to the risk that it may become inadequate because
of changes in conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of the
specific internal control component does not reduce to a relatively low level
the risk that errors or fraud in amounts that would be material in relation to
the financial statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing their assigned
functions. However, we noted no matters involving internal control, including
controls over safeguarding securities that we consider to be material weaknesses
as defined above as of August 31, 1998.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
/s/MCGLADREY & PULLEN, LLP
New York, New York
September 29, 1998