oGOF SAIP
SUPPLEMENT DATED JANUARY 1, 1998
TO THE STATEMENTS OF ADDITIONAL
INFORMATION OF
FRANKLIN VALUE FUND
DATED MARCH 1, 1997
FRANKLIN MUTUAL SERIES FUND INC.
DATED MAY 1, 1997,
AS AMENDED AUGUST 19, 1997
The statement of additional information is amended to replace the second
paragraph in the section "The Rule 12b-1 Plans," found under "The Fund's
Underwriter," with the following:
The Class I Plan. Under the Class I plan, the Fund may pay up to a maximum of
0.35% per year of Class I's average daily net assets, payable quarterly, for
expenses incurred in the promotion and distribution of Class I shares. Of this
amount, the Fund may reimburse up to 0.35% to Distributors or others, out of
which 0.10% will generally be retained by Distributors for its distribution
expenses.
