<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON VARIABLE PRODUCTS SERIES FUND - FRANKLIN S&P 500 INDEX 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> 0
<NAME> FRANKLIN S&P 500 INDEX FUND - CLASS 3
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 49,521,320
<INVESTMENTS-AT-VALUE> 50,446,879
<RECEIVABLES> 21,638
<ASSETS-OTHER> 779,364
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 51,247,881
<PAYABLE-FOR-SECURITIES> 747,236
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 34,195
<TOTAL-LIABILITIES> 781,431
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 49,563,923
<SHARES-COMMON-STOCK> 814,275
<SHARES-COMMON-PRIOR> 222,589
<ACCUMULATED-NII-CURRENT> 108,800
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (139,548)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 933,275
<NET-ASSETS> 50,466,450
<DIVIDEND-INCOME> 123,831
<INTEREST-INCOME> 53,094
<OTHER-INCOME> 0
<EXPENSES-NET> (67,847)
<NET-INVESTMENT-INCOME> 109,078
<REALIZED-GAINS-CURRENT> (139,548)
<APPREC-INCREASE-CURRENT> 463,344
<NET-CHANGE-FROM-OPS> 432,874
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,250
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 814,301
<NUMBER-OF-SHARES-REDEEMED> (222,942)
<SHARES-REINVESTED> 327
<NET-CHANGE-IN-ASSETS> 33,141,683
<ACCUMULATED-NII-PRIOR> 21,813
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (14,756)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (72,747)
<AVERAGE-NET-ASSETS> 36,353,576
<PER-SHARE-NAV-BEGIN> 10.550
<PER-SHARE-NII> .020<F1>
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> (.010)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 10.560
<EXPENSE-RATIO> .800<F2>
<FN>
<F1>BASED ON AVERAGE OUTSTANDING SHARES.
<F2>ANNUALIZED
</FN>
</TABLE>
