o FIST2 *P
SUPPLEMENT DATED MAY 7, 1999
TO THE PROSPECTUS OF
FRANKLIN INVESTORS SECURITIES TRUST
(FIST2 - FRANKLIN ADJUSTABLE
U.S. GOVERNMENT SECURITIES FUND,
FRANKLIN ADJUSTABLE RATE SECURITIES FUND
AND FRANKLIN BOND FUND)
DATED MARCH 1, 1999
On May 6, 1999, Franklin Adjustable U.S. Government Securities Fund acquired the
assets of Franklin Adjustable Rate Securities Fund. In exchange, Franklin
Adjustable Rate Securities Fund received shares of Franklin Adjustable U.S.
Government Securities Fund which it distributed to its shareholders. All
references to the Franklin Adjustable Rate Securities Fund in the prospectus are
deleted.
Please keep this supplement for future reference.
