36BUY396
PROSPECTUS SUPPLEMENT
DATED MARCH 28, 1996
FRANKLIN SHORT-INTERMEDIATE
U.S. GOVERNMENT SECURITIES FUND
Dated March 1, 1996
(as may be supplemented from time-to-time)
I. The following replaces the discussion under category (xii) regarding
investors qualifying to purchase shares of the Fund at net asset value:
(xii) Designated Retirement Plans. Non-Designated Retirement Plans
may also qualify to purchase shares of the Fund under this privilege
if they meet the requirements for Designated Retirement Plans and
those described under "Group Purchases," above.