NAME OF REGISTRANT
Franklin Investors Securities Trust
File No. 811-4986
Exhibit Item No. 77D (g): Policies with respect to security
investments
At a meeting held on February 15, 2000, the Board of Trustees of the
Registrant approved the following resolution:
RESOLVED, that the prospectus and statement of additional
information for the Franklin Equity Income Fund (the "Fund") series
of the Trust be amended as follows:
1. To provide that the Fund may invest up to 35% of its net
assets, in the aggregate, in any combination of one or more of
the types of securities currently permitted to be purchased by
the Fund in addition to its primary investments;
2. To eliminate the sentence in the section of the statement of
additional information describing the debt securities in which
the Fund may invest which currently states that the Fund does
not intend to invest more than 5% of its assets in fixed-
income securities rated below Baa by Moody's or BBB by S&P;
and
3. To clarify that the Fund's main investments may include both
domestic and foreign securities.
FURTHER RESOLVED, that the officers of the Trust, in consultation
with counsel, be and each of them hereby is, authorized and
directed to take any and all actions appropriate to carry out the
intent and accomplish the purposes of the foregoing resolution,
including the filing of a supplement or amendment to the Trust's
registration statement with the U.S. Securities and Exchange
Commission, and the distribution of such amended or supplemented
disclosure concerning such changes to the Fund's shareholders.
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