<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE TEMPLETON
VARIABLE PRODUCTS SERIES FUND - TEMPLETON DEVELOPING MARKETS FUND JUNE 30, 2000
SEMIANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000829959
<NAME> TEMPLETON VARIABLE PRODUCTS SERIES FUND
<SERIES>
<NUMBER> 010
<NAME> TEMPLETON DEVELOPING MARKETS FUND -CLASS 2
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 220171132
<INVESTMENTS-AT-VALUE> 228209006
<RECEIVABLES> 65787841
<ASSETS-OTHER> 16363027
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 310359874
<PAYABLE-FOR-SECURITIES> 1447657
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1026713
<TOTAL-LIABILITIES> 2474370
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 374570145
<SHARES-COMMON-STOCK> 8468909
<SHARES-COMMON-PRIOR> 6416075
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (315402)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (74084799)
<ACCUM-APPREC-OR-DEPREC> 7715560
<NET-ASSETS> 307885504
<DIVIDEND-INCOME> 2546825
<INTEREST-INCOME> 291187
<OTHER-INCOME> 0
<EXPENSES-NET> (1726711)
<NET-INVESTMENT-INCOME> 1111301
<REALIZED-GAINS-CURRENT> (1962676)
<APPREC-INCREASE-CURRENT> (57114182)
<NET-CHANGE-FROM-OPS> (57965557)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (412198)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6622918
<NUMBER-OF-SHARES-REDEEMED> (4629858)
<SHARES-REINVESTED> 59774
<NET-CHANGE-IN-ASSETS> (39373102)
<ACCUMULATED-NII-PRIOR> 1649089
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (72122123)
<GROSS-ADVISORY-FEES> (1413365)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1726711)
<AVERAGE-NET-ASSETS> 342195463
<PER-SHARE-NAV-BEGIN> 7.74
<PER-SHARE-NII> 0.02<F1>
<PER-SHARE-GAIN-APPREC> (1.26)<F1>
<PER-SHARE-DIVIDEND> (0.05)<F1>
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.45
<EXPENSE-RATIO> 1.74<F2>
<FN>
<F1>BASED ON AVERAGE WEIGHTED SHARES OUTSTANDING.
<F2>ANNUALIZED.
</FN>
</TABLE>
