<PAGE> PAGE 1
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007 C020200 GROWTH AND INCOME FUND
007 C030200 N
007 C010300 3
007 C020300 PRECIOUS METALS FUND
007 C030300 N
007 C010400 4
007 C020400 REAL ESTATE SECURITIES FUND
007 C030400 N
007 C010500 5
007 C020500 UTILITY EQUITY FUND
007 C030500 N
007 C010600 6
007 C020600 HIGH INCOME FUND
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007 C010700 7
007 C020700 GLOBAL INCOME FUND
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007 C010800 8
007 C020800 INVESTMENT GRADE INTERMEDIATE BOND FUND
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007 C020900 INCOME SECURITIES FUND
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<PAGE> PAGE 2
007 C021000 U.S.GOVERNMENT SECURITIES FUND
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007 C011100 11
007 C021100 ZERO COUPON FUND - 1995
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007 C011200 12
007 C021200 ZERO COUPON FUND - 2000
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007 C011300 13
007 C021300 ZERO COUPON FUND - 2005
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007 C021400 ZERO COUPON FUND - 2010
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007 C021500 ADJUSTABLE U.S. GOVERNMENT FUND
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007 C011600 16
007 C021600 RISING DIVIDENDS FUND
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007 C011700 17
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007 C011800 18
007 C021800 TEMPLETON INTERNATIONAL EQUITY FUND
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<PAGE> PAGE 3
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012 C04AA01 7777
013 A00AA01 COOPERS & LYBRAND L.L.P.
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<PAGE> PAGE 4
022 A000001 DAIWA SECURITIES AMERICA INC.
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<PAGE> PAGE 5
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042 H00AA00 0
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054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
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054 O00AA00 N
058 A00AA00 Y
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058 C00AA00 Y
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<PAGE> PAGE 6
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085 A00AA00 Y
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086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
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008 B000101 A
008 C000101 801-26292
008 D010101 SAN MATEO
008 D020101 CA
008 D030101 94403
008 D040101 7777
015 A000101 BANK OF AMERICA NT & SA
015 B000101 C
015 C010101 SAN FRANCISCO
015 C020101 CA
015 C030101 94104
015 C040101 1502
015 E010101 X
015 A000102 CITIBANK, N.A.
015 B000102 S
015 C010102 BUENOS AIRES
015 D010102 ARGENTINA
015 E040102 X
015 A000103 NATIONAL AUSTRALIA BANK LTD.
015 B000103 S
015 C010103 MELBOURNE
015 D010103 AUSTRALIA
015 E040103 X
015 A000104 CREDITANSTALT-BANKVEREIN
015 B000104 S
015 C010104 VIENNA
015 D010104 AUSTRIA
<PAGE> PAGE 7
015 E040104 X
015 A000105 CITIBANK, N.A.
015 B000105 S
015 C010105 SAO PAULO
015 D010105 BRAZIL
015 E040105 X
015 A000106 STANDARD CHARTERED BANK
015 B000106 S
015 C010106 DHAKA
015 D010106 BANGLADESH
015 E040106 X
015 A000107 BANQUE BRUSSELS LAMBERT
015 B000107 S
015 C010107 BRUSSELS
015 D010107 BELGIUM
015 E040107 X
015 A000108 THE BANK OF N.T. BUTTERFIELD & SON LIMITED
015 B000108 S
015 C010108 HAMILTON
015 D010108 BERMUDA
015 E040108 X
015 A000109 THE CANADA TRUST COMPANY
015 B000109 S
015 C010109 TORONTO
015 D010109 CANADA
015 E040109 X
015 A000110 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000110 S
015 C010110 SHANGHAI
015 D010110 CHINA
015 E040110 X
015 A000111 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000111 S
015 C010111 BOGOTA
015 D010111 COLOMBIA
015 E040111 X
015 A000112 UNIBANK
015 B000112 S
015 C010112 COPENHAGEN
015 D010112 DENMARK
015 E040112 X
015 A000113 KANSALLIS-OSAKE-PANKKI
015 B000113 S
015 C010113 HELSINKI
015 D010113 FINLAND
015 E040113 X
015 A000114 SOCIETE GENERALE
015 B000114 S
015 C010114 PARIS
015 D010114 FRANCE
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<PAGE> PAGE 8
015 A000115 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
015 B000115 S
015 C010115 FRANKFURT
015 D010115 GERMANY
015 E040115 X
015 A000116 BARCLAYS BANK PLC
015 B000116 S
015 C010116 ATHENS
015 D010116 GREECE
015 E040116 X
015 A000117 BARCLAYS BANK PLC
015 B000117 S
015 C010117 HONG KONG
015 D010117 HONG KONG
015 E040117 X
015 A000118 CITIBANK, N.A.
015 B000118 S
015 C010118 BUDAPEST
015 D010118 HUNGARY
015 E040118 X
015 A000119 STANDARD CHARTERED BANK
015 B000119 S
015 C010119 FORT BOMBAY
015 D010119 INDIA
015 E040119 X
015 A000120 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000120 S
015 C010120 JAKARTA
015 D010120 INDONESIA
015 E040120 X
015 A000121 BANK OF IRELAND
015 B000121 S
015 C010121 DUBLIN
015 D010121 IRELAND
015 E040121 X
015 A000122 BANK LEUMI LE-ISRAEL B.M.
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015 D010122 ISRAEL
015 E040122 X
015 A000123 CITIBANK, N.A.
015 B000123 S
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015 D010123 ITALY
015 E040123 X
015 A000124 BARCLAYS TRUST AND BANKING COMPANY (JAPAN)
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015 C010124 TOKYO
015 D010124 JAPAN
015 E040124 X
015 A000125 THE HONGKONG AND SHANGHAI BANKING CORP.
<PAGE> PAGE 9
015 B000125 S
015 C010125 SEOUL
015 D010125 KOREA
015 E040125 X
015 A000126 CEDEL S.A. (DEPOSITORY)
015 B000126 S
015 C010126 LUXEMBOURG CITY
015 D010126 LUXEMBOURG
015 E040126 X
015 A000127 UNITED MALAYAN BANKING CORP. BERHAD
015 B000127 S
015 C010127 KUALA LUMPUR
015 D010127 MALAYSIA
015 E040127 X
015 A000128 BANCO NACIONAL DE MEXICO
015 B000128 S
015 C010128 MEXICO CITY
015 D010128 MEXICO
015 E040128 X
015 A000129 KAS-ASSOCIATIE N.V.
015 B000129 S
015 C010129 AMSTERDAM
015 D010129 NETHERLANDS
015 E040129 X
015 A000130 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
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015 C010130 WELLINGTON
015 D010130 NEW ZEALAND
015 E040130 X
015 A000131 CHRISTIANA BANK OG KREDITKASSE
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015 C010131 BERGEN
015 D010131 NORWAY
015 E040131 X
015 A000132 STANDARD CHARTERED BANK
015 B000132 S
015 C010132 KARACHI
015 D010132 PAKISTAN
015 E040132 X
015 A000133 BANCO DE CREDITO DEL PERU
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015 C010133 LIMA
015 D010133 PERU
015 E040133 X
015 A000134 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000134 S
015 C010134 MANILA
015 D010134 PHILIPPINES
015 E040134 X
015 A000135 CITIBANK, N.A.
015 B000135 S
<PAGE> PAGE 10
015 C010135 WARSAW
015 D010135 POLAND
015 E040135 X
015 A000136 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
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015 C010136 LISBON
015 D010136 PORTUGAL
015 E040136 X
015 A000137 BARCLAYS BANK PLC
015 B000137 S
015 C010137 SINGAPORE
015 D010137 SINGAPORE
015 E040137 X
015 A000138 STANDARD BANK OF SOUTH AFRICA LIMITED
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015 C010138 JOHANNESBURG
015 D010138 SOUTH AFRICA
015 E040138 X
015 A000139 BANCO DE SANTANDER
015 B000139 S
015 C010139 MADRID
015 D010139 SPAIN
015 E040139 X
015 A000140 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000140 S
015 C010140 COLOMBO
015 D010140 SRI LANKA
015 E040140 X
015 A000141 SKANDINAVISKA ENSKILDA BANKEN
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015 C010141 STOCKHOLM
015 D010141 SWEDEN
015 E040141 X
015 A000142 SWISS BANK CORPORATION
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015 C010142 ZURICH
015 D010142 SWITZERLAND
015 E040142 X
015 A000143 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000143 S
015 C010143 TAIPEI
015 D010143 TAIWAN
015 E040143 X
015 A000144 BANGKOK BANK LIMITED
015 B000144 S
015 C010144 BANGKOK
015 D010144 THAILAND
015 E040144 X
015 A000145 YAPI VE KREDI BANKASI A.S.
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015 C010145 ISTANBUL
<PAGE> PAGE 11
015 D010145 TURKEY
015 E040145 X
015 A000146 BANK OF AMERICA FOREIGN DIVISION - LONDON
015 B000146 S
015 C010146 LONDON
015 D010146 UNITED KINGDOM
015 E040146 X
015 A000147 CITIBANK, N.A.
015 B000147 S
015 C010147 CARACAS
015 D010147 VENEZUELA
015 E040147 X
015 A000148 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000148 S
015 C010148 SHENZHEN
015 D010148 CHINA
015 E040148 X
015 A000149 CITIBANK N.A.
015 B000149 S
015 C010149 SAN PAULO
015 D010149 BRAZIL
015 E040149 X
015 A000150 BERLINER HANDELS-UND FRANKFURTER BANK
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015 C010150 FRANKFURT
015 D010150 GERMANY
015 E040150 X
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028 A020100 2518
028 A030100 0
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028 B020100 2230
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<PAGE> PAGE 12
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028 H000100 0
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048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 15000000
048 K020100 0.400
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050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
053 C000100 N
055 A000100 N
055 B000100 N
056 000100 N
057 000100 N
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062 C000100 0.0
062 D000100 15.6
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<PAGE> PAGE 13
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062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 49
063 B000100 0.0
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
<PAGE> PAGE 14
070 Q020100 N
070 R010100 N
070 R020100 N
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071 B000100 0
071 C000100 0
071 D000100 0
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072 B000100 14267
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072 K000100 6
072 L000100 10
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<PAGE> PAGE 15
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074 L000100 5136
074 M000100 0
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074 O000100 0
074 P000100 136
074 Q000100 0
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074 R020100 0
074 R030100 0
074 R040100 1926
074 S000100 0
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074 U010100 446549
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008 A000201 FRANKLIN ADVISERS, INC
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008 C000201 801-26292
008 D010201 SAN MATEO
008 D020201 CA
008 D030201 94403
008 D040201 7777
008 A000202 TEMPLETON QUANTITATIVE ADVISORS, INC.
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008 D040202 0000
015 A000201 BANK OF AMERICA NT & SA
015 B000201 C
015 C010201 SAN FRANCISCO
015 C020201 CA
015 C030201 94104
015 C040201 1502
015 E010201 X
015 A000202 CITIBANK, N.A.
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<PAGE> PAGE 16
015 E040202 X
015 A000203 NATIONAL AUSTRALIA BANK LTD.
015 B000203 S
015 C010203 MELBOURNE
015 D010203 AUSTRALIA
015 E040203 X
015 A000204 CREDITANSTALT-BANKVEREIN
015 B000204 S
015 C010204 VIENNA
015 D010204 AUSTRIA
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015 A000205 STANDARD CHARTERED BANK
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015 C010205 DHAKA
015 D010205 BANGLADESH
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015 C010206 BRUSSELS
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015 A000207 THE BANK OF H.T. BUTTERFIELD & SON LTD.
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015 C010207 HAMILTON
015 D010207 BERMUDA
015 E040207 X
015 A000208 CITIBANK, N.A.
015 B000208 S
015 C010208 SAO PAULO
015 D010208 BRAZIL
015 E040208 X
015 A000209 THE CANADA TRUST COMPANY
015 B000209 S
015 C010209 TORONTO
015 D010209 CANADA
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015 A000210 THE HONGKONG AND SHANGHAI BANKING CORP.
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015 C010210 SHANGHAI
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015 A000211 THE HONGKONG AND SHANGHAI BANKING CORP.
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<PAGE> PAGE 17
015 A000213 UNIBANK
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015 D010221 INDIA
015 E040221 X
015 A000222 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000222 S
015 C010222 JAKARTA
015 D010222 INDONESIA
015 E040222 X
015 A000223 BANK OF IRELAND
<PAGE> PAGE 18
015 B000223 S
015 C010223 DUBLIN
015 D010223 IRELAND
015 E040223 X
015 A000224 BANK LEUMI LE-ISRAEL, B.M.
015 B000224 S
015 C010224 TEL AVIV
015 D010224 ISRAEL
015 E040224 X
015 A000225 CITIBANK, N.A.
015 B000225 S
015 C010225 MILAN
015 D010225 ITALY
015 E040225 X
015 A000226 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B000226 S
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015 D010226 JAPAN
015 E040226 X
015 A000227 THE HONGKONG AND SHANGHAI BANKING CORP
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015 E040227 X
015 A000228 CEDEL S.A.
015 B000228 S
015 C010228 LUXEMBOURG CITY
015 D010228 LUXEMBOURG
015 E040228 X
015 A000229 UNITED MALAYAN BANKING CORPORATION BERHAD
015 B000229 S
015 C010229 KUALA LUMPUR
015 D010229 MALAYSIA
015 E040229 X
015 A000230 BANCO NACIONAL DE MEXICO
015 B000230 S
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015 E040231 X
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015 C010232 WELLINGTON
015 D010232 NEW ZEALAND
015 E040232 X
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<PAGE> PAGE 19
015 C010233 BERGEN
015 D010233 NORWAY
015 E040233 X
015 A000234 STANDARD CHARTERED BANK
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015 E040234 X
015 A000235 BANCO DE CREDITO DEL PERU
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015 D010235 PERU
015 E040235 X
015 A000236 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000236 S
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015 A000237 CITIBANK, N.A.
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<PAGE> PAGE 20
015 D010243 SWEDEN
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015 A000244 SWISS BANK CORPORATION
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015 A000245 THE HONGKONG AND SHANGHAI BANKING CORP.
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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069 000200 N
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<PAGE> PAGE 23
070 N010200 Y
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<PAGE> PAGE 24
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008 A000301 FRANKLIN ADVISERS, INC
008 B000301 A
008 C000301 801-26292
008 D010301 SAN MATEO
008 D020301 CA
008 D030301 94403
008 D040301 7777
015 A000301 BANK OF AMERICA NT & SA
015 B000301 C
015 C010301 SAN FRANCISCO
015 C020301 CA
015 C030301 94104
015 C040301 1502
015 E010301 X
015 A000302 CITIBANK, N.A.
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015 D010302 ARGENTINA
<PAGE> PAGE 25
015 E040302 X
015 A000303 NATIONAL AUSTRALIA BANK LTD.
015 B000303 S
015 C010303 MELBOURNE
015 D010303 AUSTRALIA
015 E040303 X
015 A000304 CREDITANSTALT-BANKVEREIN
015 B000304 S
015 C010304 VIENNA
015 D010304 AUSTRIA
015 E040304 X
015 A000305 STANDARD CHARTERED BANK
015 B000305 S
015 C010305 DHAKA
015 D010305 BANGLADESH
015 E040305 X
015 A000306 BANQUE BRUSSELS LAMBERT
015 B000306 S
015 C010306 BRUSSELS
015 D010306 BELGIUM
015 E040306 X
015 A000307 THE BANK OF N.T. BUTTERFIELD & SON LTD.
015 B000307 S
015 C010307 HAMILTON
015 D010307 BERMUDA
015 E040307 X
015 A000308 CITIBANK, N.A.
015 B000308 S
015 C010308 SAO PAULO
015 D010308 BRAZIL
015 E040308 X
015 A000309 THE CANADA TRUST COMPANY
015 B000309 S
015 C010309 TORONTO
015 D010309 CANADA
015 E040309 X
015 A000310 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000310 S
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015 D010310 CHINA
015 E040310 X
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015 D010311 CHINA
015 E040311 X
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<PAGE> PAGE 26
015 A000313 UNIBANK
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015 E040314 X
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015 D010317 GREECE
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015 E040318 X
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015 E040320 X
015 A000321 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000321 S
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015 E040321 X
015 A000322 BANK OF IRELAND
015 B000322 S
015 C010322 DUBLIN
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015 E040322 X
015 A000323 BANK LEUMI LE-ISRAEL, B.M.
<PAGE> PAGE 27
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015 D010323 ISRAEL
015 E040323 X
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015 B000324 S
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015 E040324 X
015 A000325 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B000325 S
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015 D010325 JAPAN
015 E040325 X
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015 D010327 LUXEMBOURG
015 E040327 X
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015 B000328 S
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<PAGE> PAGE 28
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<PAGE> PAGE 29
015 D010343 SWITZERLAND
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015 A000344 THE HONGKONG AND SHANGHAI BANKING CORP.
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
070 F020400 N
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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048 A010600 100000
048 A020600 0.625
048 B010600 150000
048 B020600 0.500
048 C010600 9750000
048 C020600 0.450
048 D010600 2500000
048 D020600 0.440
048 E010600 2500000
048 E020600 0.420
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 15000000
048 K020600 0.400
049 000600 N
050 000600 N
<PAGE> PAGE 53
051 000600 N
052 000600 N
053 A000600 N
055 A000600 N
055 B000600 N
056 000600 N
057 000600 N
062 A000600 Y
062 B000600 0.0
062 C000600 0.0
062 D000600 1.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 93.6
062 Q000600 0.0
062 R000600 2.4
063 A000600 0
063 B000600 8.0
064 A000600 N
064 B000600 N
066 A000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
<PAGE> PAGE 54
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 Y
070 N010600 Y
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 86955
071 B000600 28337
071 C000600 272015
071 D000600 10
072 A000600 6
072 B000600 15015
072 C000600 0
072 D000600 0
072 E000600 0
072 F000600 784
072 G000600 0
072 H000600 0
072 I000600 0
072 J000600 35
072 K000600 14
072 L000600 13
072 M000600 3
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 8
072 S000600 1
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 40
072 X000600 898
072 Y000600 0
072 Z000600 14117
072AA000600 1610
072BB000600 1340
<PAGE> PAGE 55
072CC010600 22249
072CC020600 0
072DD010600 21306
072DD020600 0
072EE000600 0
073 A010600 0.9108
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 912
074 B000600 3309
074 C000600 0
074 D000600 305929
074 E000600 7280
074 F000600 692
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 762
074 K000600 0
074 L000600 10516
074 M000600 0
074 N000600 329400
074 O000600 1803
074 P000600 141
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 321
074 S000600 0
074 T000600 327135
074 U010600 25307
074 U020600 0
074 V010600 12.93
074 V020600 0.00
074 W000600 0.0000
074 X000600 3
074 Y000600 7751
075 A000600 0
075 B000600 295703
076 000600 0.00
008 A000701 FRANKLIN ADVISERS, INC.
008 B000701 A
008 C000701 801-26292
008 D010701 SAN MATEO
008 D020701 CA
008 D030701 94403
008 D040701 7777
008 A000702 TEMPLETON INVESTMENT COUNSEL, INC.
008 B000702 S
<PAGE> PAGE 56
008 C000702 801-15125
008 D010702 FT. LAUDERDALE
008 D020702 FL
008 D030702 33394
008 D040702 3091
015 A000701 BANK OF AMERICA NT & SA
015 B000701 C
015 C010701 SAN FRANCISCO
015 C020701 CA
015 C030701 94104
015 C040701 1502
015 E010701 X
015 A000702 NATIONAL AUSTRALIA BANK LTD.
015 B000702 S
015 C010702 MELBOURNE
015 D010702 AUSTRALIA
015 E040702 X
015 A000703 CREDITANSTALT-BANKVEREIN
015 B000703 S
015 C010703 VIENNA
015 D010703 AUSTRIA
015 E040703 X
015 A000704 STANDARD CHARTERED BANK
015 B000704 S
015 C010704 DHAKA
015 D010704 BANGLADESH
015 E040704 X
015 A000705 BANQUE BRUSSELS LAMBERT
015 B000705 S
015 C010705 BRUSSELS
015 D010705 BELGIUM
015 E040705 X
015 A000706 THE BANK OF N.T. BUTTERFIELD & SON LIMITED
015 B000706 S
015 C010706 HAMILTON
015 D010706 BERMUDA
015 E040706 X
015 A000707 THE CANADA TRUST COMPANY
015 B000707 S
015 C010707 TORONTO
015 D010707 CANADA
015 E040707 X
015 A000708 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000708 S
015 C010708 SHANGHAI
015 D010708 CHINA
015 E040708 X
015 A000709 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
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015 C010709 SANTAFE DE BOGOTA
015 D010709 COLOMBIA
<PAGE> PAGE 57
015 E040709 X
015 A000710 UNIBANK
015 B000710 S
015 C010710 COPENHAGEN
015 D010710 DENMARK
015 E040710 X
015 A000711 KANSALLIS-OSAKE-PANKKI
015 B000711 S
015 C010711 HELSINKI
015 D010711 FINLAND
015 E040711 X
015 A000712 SOCIETE GENERALE
015 B000712 S
015 C010712 PARIS
015 D010712 FRANCE
015 E040712 X
015 A000713 BERLINER HANDELS-UND FRANKFURTER BANK
015 B000713 S
015 C010713 FRANKFURT
015 D010713 GERMANY
015 E040713 X
015 A000714 BARCLAYS BANK PLC, ATHENS
015 B000714 S
015 C010714 ATHENS
015 D010714 GREECE
015 E040714 X
015 A000715 BARCLAYS BANK PLC
015 B000715 S
015 C010715 HONG KONG
015 D010715 HONG KONG
015 E040715 X
015 A000716 STANDARD CHARTERED BANK
015 B000716 S
015 C010716 FORT BOMBAY
015 D010716 INDIA
015 E040716 X
015 A000717 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000717 S
015 C010717 JAKARTA
015 D010717 INDONESIA
015 E040717 X
015 A000718 BANK OF IRELAND
015 B000718 S
015 C010718 DUBLIN
015 D010718 IRELAND
015 E040718 X
015 A000719 CITIBANK, N.A.
015 B000719 S
015 C010719 MILAN
015 D010719 ITALY
015 E040719 X
<PAGE> PAGE 58
015 A000720 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B000720 S
015 C010720 TOKYO
015 D010720 JAPAN
015 E040720 X
015 A000721 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000721 S
015 C010721 SEOUL
015 D010721 KOREA
015 E040721 X
015 A000722 CEDEL S.A. (DEPOSITORY)
015 B000722 S
015 C010722 LUXEMBOURG CITY
015 D010722 LUXEMBOURG
015 E040722 X
015 A000723 UNITED MALAYAN BANKING CORP. BERHAD
015 B000723 S
015 C010723 KUALA LUMPUR
015 D010723 MALAYSIA
015 E040723 X
015 A000724 BANCO NACIONAL DE MEXICO
015 B000724 S
015 C010724 MEXICO CITY
015 D010724 MEXICO
015 E040724 X
015 A000725 KAS-ASSOCIATIE N.V.
015 B000725 S
015 C010725 AMSTERDAM
015 D010725 NETHERLANDS
015 E040725 X
015 A000726 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B000726 S
015 C010726 WELLINGTON
015 D010726 NEW ZEALAND
015 E040726 X
015 A000727 CHRISTIANIA BANK OG KREDITKASSE
015 B000727 S
015 C010727 BERGEN
015 D010727 NORWAY
015 E040727 X
015 A000728 STANDARD CHARTERED BANK
015 B000728 S
015 C010728 KARACHI
015 D010728 PAKISTAN
015 E040728 X
015 A000729 BANCO DE CREDITO DEL PERU
015 B000729 S
015 C010729 LIMA
015 D010729 PERU
015 E040729 X
015 A000730 THE HONGKONG AND SHANGHAI BANKING CORP.
<PAGE> PAGE 59
015 B000730 S
015 C010730 MANILA
015 D010730 PHILIPPINES
015 E040730 X
015 A000731 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B000731 S
015 C010731 LISBON
015 D010731 PORTUGAL
015 E040731 X
015 A000732 BARCLAYS BANK PLC
015 B000732 S
015 C010732 SINGAPORE
015 D010732 SINGAPORE
015 E040732 X
015 A000733 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000733 S
015 C010733 JOHANNESBURG
015 D010733 SOUTH AFRICA
015 E040733 X
015 A000734 BANCO DE SANTANDER
015 B000734 S
015 C010734 MADRID
015 D010734 SPAIN
015 E040734 X
015 A000735 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000735 S
015 C010735 COLOMBO
015 D010735 SRI LANKA
015 E040735 X
015 A000736 SKANDINAVISKA ENSKILDA BANKEN
015 B000736 S
015 C010736 STOCKHOLM
015 D010736 SWEDEN
015 E040736 X
015 A000737 SWISS BANK CORPORATION
015 B000737 S
015 C010737 ZURICH
015 D010737 SWITZERLAND
015 E040737 X
015 A000738 BANGKOK BANK LIMITED
015 B000738 S
015 C010738 BANGKOK
015 D010738 THAILAND
015 E040738 X
015 A000739 YAPI VE KREDI BANKASI A.S.
015 B000739 S
015 C010739 ISTANBUL
015 D010739 TURKEY
015 E040739 X
015 A000740 BANK OF AMERICA FOREIGN DIVISION - LONDON
015 B000740 S
<PAGE> PAGE 60
015 C010740 LONDON
015 D010740 UNITED KINGDOM
015 E040740 X
015 A000741 CITIBANK, N.A.
015 B000741 S
015 C010741 WARSAW
015 D010741 POLAND
015 E040741 X
015 A000742 CITIBANK, N.A.
015 B000742 S
015 C010742 CARACAS
015 D010742 VENEZUELA
015 E040742 X
015 A000743 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000743 S
015 C010743 TAIPEI
015 D010743 TAIWAN (ROC)
015 E040743 X
015 A000744 CITIBANK, N.A.
015 B000744 S
015 C010744 BUENOS AIRES
015 D010744 ARGENTINA
015 E040744 X
015 A000745 CITIBANK, N.A.
015 B000745 S
015 C010745 SAO PAULO
015 D010745 BRAZIL
015 E040745 X
015 A000746 CITIBANK BUDAPEST RT.
015 B000746 S
015 C010746 BUDAPEST
015 D010746 HUNGARY
015 E040746 X
015 A000747 BANK LEUMI LE-ISRAEL, B.M.
015 B000747 S
015 C010747 TEL AVIV
015 D010747 ISRAEL
015 E040747 X
015 A000748 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000748 S
015 C010748 SHENZHEN
015 D010748 CHINA
015 E040748 X
015 A000749 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
015 B000749 S
015 C010749 FRANKFURT
015 D010749 GERMANY
015 E040749 X
015 A000750 THE CHASE MANHATTAN BANK, N.A.
015 B000750 S
015 C010750 BUENOS AIRES
<PAGE> PAGE 61
015 D010750 ARGENTINA
015 E040750 X
015 A000751 THE CHASE MANHATTAN BANK AUSTRALIA LTD.
015 B000751 S
015 C010751 SYDNEY
015 D010751 AUSTRALIA
015 E040751 X
015 A000752 GENERALE BANK
015 B000752 S
015 C010752 BRUSSELS
015 D010752 BELGIUM
015 E040752 X
015 A000753 BARCLAYS BANK OF BOTSWANA LIMITED
015 B000753 S
015 C010753 GABORONE
015 D010753 BOTSWANA
015 E040753 X
015 A000754 BANCO CHASE MANHATTAN, S.A.
015 B000754 S
015 C010754 SAO PAULO
015 D010754 BRAZIL
015 E040754 X
015 A000755 ROYAL BANK OF CANADA
015 B000755 S
015 C010755 TORONTO
015 D010755 CANADA
015 E040755 X
015 A000756 THE CHASE MANHATTAN BANK, N.A.
015 B000756 S
015 C010756 SANTIAGO
015 D010756 CHILE
015 E040756 X
015 A000757 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000757 S
015 C010757 PRAGUE
015 D010757 CZECH REPUBLIC
015 E040757 X
015 A000758 DEN DANSKE BANK
015 B000758 S
015 C010758 COPENHAGEN
015 D010758 DENMARK
015 E040758 X
015 A000759 NATIONAL BANK OF EGYPT
015 B000759 S
015 C010759 CAIRO
015 D010759 EGYPT
015 E040759 X
015 A000760 BANQUE PARIBAS
015 B000760 S
015 C010760 PARIS
015 D010760 FRANCE
<PAGE> PAGE 62
015 E040760 X
015 A000761 CHASE BANK, A.G.
015 B000761 S
015 C010761 FRANKFURT
015 D010761 GERMANY
015 E040761 X
015 A000762 BARCLAYS BANK OF GHANA LTD.
015 B000762 S
015 C010762 ACCRA
015 D010762 GHANA
015 E040762 X
015 A000763 THE CHASE MANHATTAN BANK, N.A.
015 B000763 S
015 C010763 HONG KONG
015 D010763 HONG KONG
015 E040763 X
015 A000764 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000764 S
015 C010764 BOMBAY
015 D010764 INDIA
015 E040764 X
015 A000765 DEUTSCHE BANK, A.G.
015 B000765 S
015 C010765 BOMBAY
015 D010765 INDIA
015 E040765 X
015 A000766 THE CHASE MANHATTAN BANK, N.A.
015 B000766 S
015 C010766 MILAN
015 D010766 ITALY
015 E040766 X
015 A000767 THE CHASE MANHATTAN BANK, N.A.
015 B000767 S
015 C010767 TOKYO
015 D010767 JAPAN
015 E040767 X
015 A000768 ARAB BANK, PLC
015 B000768 S
015 C010768 AMMAN
015 D010768 JORDAN
015 E040768 X
015 A000769 THE CHASE MANHATTAN BANK, N.A.
015 B000769 S
015 C010769 KUALA LUMPUR
015 D010769 MALAYSIA
015 E040769 X
015 A000770 THE HONG KONG AND SHANGHAI BANKING CORP
015 B000770 S
015 C010770 PORT LOUIS
015 D010770 MAURITIUS
015 E040770 X
<PAGE> PAGE 63
015 A000771 THE CHASE MANHATTAN BANK, N.A.
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015 E040771 X
015 A000772 BANQUE COMMERCIALE DU MAROC
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015 C010772 CASABLANCA
015 D010772 MOROCCO
015 E040772 X
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015 D010775 NORWAY
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015 E040777 X
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015 D010778 PERU
015 E040778 X
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<PAGE> PAGE 64
015 B000781 S
015 C010781 MADRID
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015 D010782 SPAIN
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015 D010783 SWITZERLAND
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015 D010784 TAIWAN (ROC)
015 E040784 X
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015 D010785 THAILAND
015 E040785 X
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015 D010786 UNITED KINGDOM
015 E040786 X
015 A000787 FIRST NATIONAL BANK OF CHICAGO
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015 D010787 UNITED KINGDOM
015 E040787 X
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015 C010788 ISTANBUL
015 D010788 TURKEY
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015 A000789 THE FIRST NATIONAL BANK OF BOSTON
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015 C010789 MONTEVIDEO
015 D010789 URUGUAY
015 E040789 X
015 A000790 BARCLAYS BANK PLC
015 B000790 S
015 C010790 HARARE
015 D010790 ZIMBABWE
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015 B000791 C
<PAGE> PAGE 65
015 C010791 NEW YORK
015 C020791 NY
015 C030791 10081
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015 A000792 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
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015 A000794 BANCO NACIONAL DE MEXICO
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028 A030700 0
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028 B020700 0
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028 B040700 7024
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028 G020700 9276
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028 H000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.000
<PAGE> PAGE 66
048 A010700 100000
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048 B010700 150000
048 B020700 0.500
048 C010700 9750000
048 C020700 0.450
048 D010700 2500000
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048 E010700 2500000
048 E020700 0.420
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048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 15000000
048 K020700 0.400
049 000700 N
050 000700 N
051 000700 N
052 000700 N
053 A000700 N
055 A000700 Y
055 B000700 N
056 000700 N
057 000700 N
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 0.9
062 E000700 0.0
062 F000700 0.0
062 G000700 0.6
062 H000700 0.0
062 I000700 2.1
062 J000700 0.0
062 K000700 0.0
062 L000700 4.2
062 M000700 11.4
062 N000700 0.0
062 O000700 0.0
062 P000700 40.6
062 Q000700 22.1
062 R000700 1.4
063 A000700 0
063 B000700 6.7
<PAGE> PAGE 67
064 A000700 N
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 Y
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 Y
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 N
070 K020700 N
070 L010700 Y
070 L020700 Y
070 M010700 Y
070 M020700 Y
070 N010700 Y
070 N020700 Y
070 O010700 N
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 Y
070 Q020700 N
070 R010700 Y
070 R020700 Y
071 A000700 233750
071 B000700 230452
071 C000700 211751
071 D000700 109
072 A000700 6
072 B000700 10507
072 C000700 416
072 D000700 0
<PAGE> PAGE 68
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072 F000700 677
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072 O000700 0
072 P000700 0
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072 R000700 4
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072 U000700 0
072 V000700 0
072 W000700 16
072 X000700 875
072 Y000700 0
072 Z000700 10048
072AA000700 8164
072BB000700 18523
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072DD010700 9276
072DD020700 0
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073 C000700 0.0000
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074 B000700 2215
074 C000700 16977
074 D000700 179819
074 E000700 3557
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<PAGE> PAGE 69
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074 R040700 619
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074 T000700 249556
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074 X000700 3
074 Y000700 202899
075 A000700 0
075 B000700 247852
076 000700 0.00
008 A000801 FRANKLIN ADVISERS, INC.
008 B000801 A
008 C000801 801-26292
008 D010801 SAN MATEO
008 D020801 CA
008 D030801 94403
008 D040801 7777
015 A000801 BANK OF AMERICA NT & SA
015 B000801 C
015 C010801 SAN FRANCISCO
015 C020801 CA
015 C030801 94104
015 C040801 1502
015 E010801 X
015 A000802 CITIBANK, N.A.
015 B000802 S
015 C010802 BUENOS AIRES
015 D010802 ARGENTINA
015 E040802 X
015 A000803 NATIONAL AUSTRALIA BANK LTD.
015 B000803 S
015 C010803 MELBOURNE
015 D010803 AUSTRALIA
015 E040803 X
015 A000804 CREDITANSTALT-BANKVEREIN
015 B000804 S
015 C010804 VIENNA
015 D010804 AUSTRIA
015 E040804 X
015 A000805 STANDARD CHARTERED BANK
015 B000805 S
015 C010805 DHAKA
015 D010805 BANGLADESH
015 E040805 X
015 A000806 BANQUE BRUSSELS LAMBERT
015 B000806 S
<PAGE> PAGE 70
015 C010806 BRUSSELS
015 D010806 BELGIUM
015 E040806 X
015 A000807 THE BANK OF N.T. BUTTERFIELD & SON LTD.
015 B000807 S
015 C010807 HAMILTON
015 D010807 BERMUDA
015 E040807 X
015 A000808 CITIBANK, N.A.
015 B000808 S
015 C010808 SAO PAULO
015 D010808 BRAZIL
015 E040808 X
015 A000809 THE CANADA TRUST COMPANY
015 B000809 S
015 C010809 TORONTO
015 D010809 CANADA
015 E040809 X
015 A000810 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000810 S
015 C010810 SHANGHAI
015 D010810 CHINA
015 E040810 X
015 A000811 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000811 S
015 C010811 SHENZHEN
015 D010811 CHINA
015 E040811 X
015 A000812 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000812 S
015 C010812 BOGOTA
015 D010812 COLOMBIA
015 E040812 X
015 A000813 UNIBANK
015 B000813 S
015 C010813 COPENHAGEN
015 D010813 DENMARK
015 E040813 X
015 A000814 KANSALLIS-OSAKE-PANKKI
015 B000814 S
015 C010814 HELSINKI
015 D010814 FINLAND
015 E040814 X
015 A000815 SOCIETE GENERALE
015 B000815 S
015 C010815 PARIS
015 D010815 FRANCE
015 E040815 X
015 A000816 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
015 B000816 S
015 C010816 FRANKFURT
<PAGE> PAGE 71
015 D010816 GERMANY
015 E040816 X
015 A000817 BARCLAYS BANK PLC
015 B000817 S
015 C010817 ATHENS
015 D010817 GREECE
015 E040817 X
015 A000818 BARCLAYS BANK PLC
015 B000818 S
015 C010818 HONG KONG
015 D010818 HONG KONG
015 E040818 X
015 A000819 CITIBANK, N.A.
015 B000819 S
015 C010819 BUDAPEST
015 D010819 HUNGARY
015 E040819 X
015 A000820 STANDARD CHARTERED BANK
015 B000820 S
015 C010820 FORT BOMBAY
015 D010820 INDIA
015 E040820 X
015 A000821 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000821 S
015 C010821 JAKARTA
015 D010821 INDONESIA
015 E040821 X
015 A000822 BANK OF IRELAND
015 B000822 S
015 C010822 DUBLIN
015 D010822 IRELAND
015 E040822 X
015 A000823 BANK LEUMI LE-ISRAEL, B.M.
015 B000823 S
015 C010823 TEL AVIV
015 D010823 ISRAEL
015 E040823 X
015 A000824 CITIBANK, N.A.
015 B000824 S
015 C010824 MILAN
015 D010824 ITALY
015 E040824 X
015 A000825 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B000825 S
015 C010825 TOKYO
015 D010825 JAPAN
015 E040825 X
015 A000826 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000826 S
015 C010826 SEOUL
015 D010826 KOREA
<PAGE> PAGE 72
015 E040826 X
015 A000827 CEDEL S.A. (DEPOSITORY)
015 B000827 S
015 C010827 LUXEMBOURG CITY
015 D010827 LUXEMBOURG
015 E040827 X
015 A000828 UNITED MALAYAN BANKING CORPORATION BERHAD
015 B000828 S
015 C010828 KUALA LUMPUR
015 D010828 MALAYSIA
015 E040828 X
015 A000829 BANCO NACIONAL DE MEXICO
015 B000829 S
015 C010829 MEXICO CITY
015 D010829 MEXICO
015 E040829 X
015 A000830 KAS-ASSOCIATIE N.V.
015 B000830 S
015 C010830 AMSTERDAM
015 D010830 NETHERLANDS
015 E040830 X
015 A000831 ANZ BANKING GROUP(NEW ZEALAND) LIMITED
015 B000831 S
015 C010831 WELLINGTON
015 D010831 NEW ZEALAND
015 E040831 X
015 A000832 CHRISTIANIA BANK OG KREDITKASSE
015 B000832 S
015 C010832 BERGEN
015 D010832 NORWAY
015 E040832 X
015 A000833 STANDARD CHARTERED BANK
015 B000833 S
015 C010833 KARACHI
015 D010833 PAKISTAN
015 E040833 X
015 A000834 BANCO DE CREDITO DEL PERU
015 B000834 S
015 C010834 LIMA
015 D010834 PERU
015 E040834 X
015 A000835 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000835 S
015 C010835 MANILA
015 D010835 PHILIPPINES
015 E040835 X
015 A000836 CITIBANK, N.A.
015 B000836 S
015 C010836 WARSAW
015 D010836 POLAND
015 E040836 X
<PAGE> PAGE 73
015 A000837 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B000837 S
015 C010837 LISBON
015 D010837 PORTUGAL
015 E040837 X
015 A000838 BARCLAYS BANK PLC
015 B000838 S
015 C010838 SINGAPORE
015 D010838 SINGAPORE
015 E040838 X
015 A000839 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000839 S
015 C010839 JOHANNESBURG
015 D010839 SOUTH AFRICA
015 E040839 X
015 A000840 BANCO DE SANTANDER
015 B000840 S
015 C010840 MADRID
015 D010840 SPAIN
015 E040840 X
015 A000841 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000841 S
015 C010841 COLOMBO
015 D010841 SRI LANKA
015 E040841 X
015 A000842 SKANDINAVISKA ENSKILDA BANKEN
015 B000842 S
015 C010842 STOCKHOLM
015 D010842 SWEDEN
015 E040842 X
015 A000843 SWISS BANK CORPORATION
015 B000843 S
015 C010843 ZURICH
015 D010843 SWITZERLAND
015 E040843 X
015 A000844 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000844 S
015 C010844 TAIPEI
015 D010844 TAIWAN (ROC)
015 E040844 X
015 A000845 BANGKOK BANK LTD.
015 B000845 S
015 C010845 BANGKOK
015 D010845 THAILAND
015 E040845 X
015 A000846 YAPI VE KREDI BANKASI A.S.
015 B000846 S
015 C010846 ISTANBUL
015 D010846 TURKEY
015 E040846 X
015 A000847 BANK OF AMERICA FOREIGN DIVISION - LONDON
<PAGE> PAGE 74
015 B000847 S
015 C010847 LONDON
015 D010847 UNITED KINGDOM
015 E040847 X
015 A000848 CITIBANK, N.A.
015 B000848 S
015 C010848 CARACAS
015 D010848 VENEZUELA
015 E040848 X
015 A000849 BERLINER HANDELS-UND FRANKFURTER BANK
015 B000849 S
015 C010849 FRANKFURT
015 D010849 GERMANY
015 E040849 X
028 A010800 1940
028 A020800 0
028 A030800 0
028 A040800 3968
028 B010800 3144
028 B020800 0
028 B030800 0
028 B040800 2220
028 C010800 2960
028 C020800 0
028 C030800 0
028 C040800 2771
028 D010800 2621
028 D020800 0
028 D030800 0
028 D040800 2546
028 E010800 3093
028 E020800 0
028 E030800 0
028 E040800 2594
028 F010800 2393
028 F020800 6604
028 F030800 0
028 F040800 2189
028 G010800 16151
028 G020800 6604
028 G030800 0
028 G040800 16288
028 H000800 0
045 000800 Y
046 000800 N
047 000800 Y
048 000800 0.000
048 A010800 100000
048 A020800 0.625
048 B010800 150000
048 B020800 0.500
<PAGE> PAGE 75
048 C010800 9750000
048 C020800 0.450
048 D010800 2500000
048 D020800 0.440
048 E010800 2500000
048 E020800 0.420
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048 H020800 0.000
048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 15000000
048 K020800 0.400
049 000800 N
050 000800 N
051 000800 N
052 000800 N
053 A000800 N
055 A000800 Y
055 B000800 N
056 000800 N
057 000800 N
062 A000800 Y
062 B000800 24.7
062 C000800 0.0
062 D000800 25.4
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 22.1
062 N000800 4.4
062 O000800 0.0
062 P000800 22.7
062 Q000800 0.0
062 R000800 0.0
063 A000800 0
063 B000800 2.4
064 A000800 N
064 B000800 N
066 A000800 N
067 000800 N
<PAGE> PAGE 76
068 A000800 N
068 B000800 N
069 000800 N
070 A010800 Y
070 A020800 Y
070 B010800 N
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 N
070 L010800 Y
070 L020800 N
070 M010800 Y
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 N
070 O020800 N
070 P010800 Y
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 29986
071 B000800 18076
071 C000800 105357
071 D000800 17
072 A000800 6
072 B000800 4748
072 C000800 0
072 D000800 0
072 E000800 0
072 F000800 455
072 G000800 0
072 H000800 0
<PAGE> PAGE 77
072 I000800 0
072 J000800 10
072 K000800 5
072 L000800 6
072 M000800 1
072 N000800 6
072 O000800 0
072 P000800 0
072 Q000800 0
072 R000800 3
072 S000800 1
072 T000800 0
072 U000800 0
072 V000800 0
072 W000800 4
072 X000800 491
072 Y000800 0
072 Z000800 4257
072AA000800 332
072BB000800 82
072CC010800 4459
072CC020800 0
072DD010800 6604
072DD020800 0
072EE000800 0
073 A010800 0.5678
073 A020800 0.0000
073 B000800 0.0000
073 C000800 0.0000
074 A000800 0
074 B000800 41547
074 C000800 40405
074 D000800 80555
074 E000800 0
074 F000800 0
074 G000800 0
074 H000800 0
074 I000800 0
074 J000800 0
074 K000800 0
074 L000800 1516
074 M000800 0
074 N000800 164023
074 O000800 0
074 P000800 77
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 218
074 S000800 0
<PAGE> PAGE 78
074 T000800 163728
074 U010800 12112
074 U020800 0
074 V010800 13.52
074 V020800 0.00
074 W000800 0.0000
074 X000800 3
074 Y000800 0
075 A000800 0
075 B000800 158528
076 000800 0.00
008 A000901 FRANKLIN ADVISERS, INC
008 B000901 A
008 C000901 801-26292
008 D010901 SAN MATEO
008 D020901 CA
008 D030901 94403
008 D040901 7777
015 A000901 BANK OF AMERICA NT & SA
015 B000901 C
015 C010901 SAN FRANCISCO
015 C020901 CA
015 C030901 94104
015 C040901 1502
015 E010901 X
015 A000902 CITIBANK, N.A.
015 B000902 S
015 C010902 BUENOS AIRES
015 D010902 ARGENTINA
015 E040902 X
015 A000903 CREDITANSTALT-BANKVEREIN
015 B000903 S
015 C010903 VIENNA
015 D010903 AUSTRIA
015 E040903 X
015 A000904 NATIONAL AUSTRALIA BANK LTD.
015 B000904 S
015 C010904 MELBOURNE
015 D010904 AUSTRALIA
015 E040904 X
015 A000905 STANDARD CHARTERED BANK
015 B000905 S
015 C010905 DHAKA
015 D010905 BANGLADESH
015 E040905 X
015 A000906 BANQUE BRUSSELS LAMBERT
015 B000906 S
015 C010906 BRUSSELS
015 D010906 BELGIUM
015 E040906 X
015 A000907 THE BANK OF N.T. BUTTERFIELD & SON LTD.
<PAGE> PAGE 79
015 B000907 S
015 C010907 HAMILTON
015 D010907 BERMUDA
015 E040907 X
015 A000908 CITIBANK, N.A.
015 B000908 S
015 C010908 SAO PAULO
015 D010908 BRAZIL
015 E040908 X
015 A000909 THE CANADA TRUST COMPANY
015 B000909 S
015 C010909 TORONTO
015 D010909 CANADA
015 E040909 X
015 A000910 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000910 S
015 C010910 SHANGHAI
015 D010910 CHINA
015 E040910 X
015 A000911 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000911 S
015 C010911 SHENZHEN
015 D010911 CHINA
015 E040911 X
015 A000912 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000912 S
015 C010912 BOGOTA
015 D010912 COLOMBIA
015 E040912 X
015 A000913 UNIBANK
015 B000913 S
015 C010913 COPENHAGEN
015 D010913 DENMARK
015 E040913 X
015 A000914 KANSALLIS-OSAKE-PANKKI
015 B000914 S
015 C010914 HELSINKI
015 D010914 FINLAND
015 E040914 X
015 A000915 SOCIETE GENERALE
015 B000915 S
015 C010915 PARIS
015 D010915 FRANCE
015 E040915 X
015 A000916 BERLINER HANDELS-UND FRANKFURTER BANK
015 B000916 S
015 C010916 FRANKFURT
015 D010916 GERMANY
015 E040916 X
015 A000917 BARCLAYS BANK PLC
015 B000917 S
<PAGE> PAGE 80
015 C010917 ATHENS
015 D010917 GREECE
015 E040917 X
015 A000918 BARCLAYS BANK PLC
015 B000918 S
015 C010918 HONG KONG
015 D010918 HONG KONG
015 E040918 X
015 A000919 CITIBANK, N.A.
015 B000919 S
015 C010919 BUDAPEST
015 D010919 HUNGARY
015 E040919 X
015 A000920 STANDARD CHARTERED BANK
015 B000920 S
015 C010920 FORT BOMBAY
015 D010920 INDIA
015 E040920 X
015 A000921 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000921 S
015 C010921 JAKARTA
015 D010921 INDONESIA
015 E040921 X
015 A000922 BANK OF IRELAND
015 B000922 S
015 C010922 DUBLIN
015 D010922 IRELAND
015 E040922 X
015 A000923 BANK LEUMI LE-ISRAEL, B.M.
015 B000923 S
015 C010923 TEL AVIV
015 D010923 ISRAEL
015 E040923 X
015 A000924 CITIBANK, N.A.
015 B000924 S
015 C010924 MILAN
015 D010924 ITALY
015 E040924 X
015 A000925 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B000925 S
015 C010925 TOKYO
015 D010925 JAPAN
015 E040925 X
015 A000926 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000926 S
015 C010926 SEOUL
015 D010926 KOREA
015 E040926 X
015 A000927 CEDEL S.A. (DEPOSITORY)
015 B000927 S
015 C010927 LUXEMBOURG CITY
<PAGE> PAGE 81
015 D010927 LUXEMBOURG
015 E040927 X
015 A000928 UNITED MALAYAN BANKING CORPORATION BERHAD
015 B000928 S
015 C010928 KUALA LUMPUR
015 D010928 MALAYSIA
015 E040928 X
015 A000929 BANCO NACIONAL DE MEXICO
015 B000929 S
015 C010929 MEXICO CITY
015 D010929 MEXICO
015 E040929 X
015 A000930 KAS-ASSOCIATIE N.V.
015 B000930 S
015 C010930 AMSTERDAM
015 D010930 NETHERLANDS
015 E040930 X
015 A000931 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B000931 S
015 C010931 WELLINGTON
015 D010931 NEW ZEALAND
015 E040931 X
015 A000932 CHRISTIANIA BANK OG KREDITKASSE
015 B000932 S
015 C010932 BERGEN
015 D010932 NORWAY
015 E040932 X
015 A000933 STANDARD CHARTERED BANK
015 B000933 S
015 C010933 KARACHI
015 D010933 PAKISTAN
015 E040933 X
015 A000934 BANCO DE CREDITO DEL PERU
015 B000934 S
015 C010934 LIMA
015 D010934 PERU
015 E040934 X
015 A000935 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000935 S
015 C010935 MANILA
015 D010935 PHILIPPINES
015 E040935 X
015 A000936 CITIBANK, N.A.
015 B000936 S
015 C010936 WARSAW
015 D010936 POLAND
015 E040936 X
015 A000937 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B000937 S
015 C010937 LISBON
015 D010937 PORTUGAL
<PAGE> PAGE 82
015 E040937 X
015 A000938 BARCLAYS BANK PLC
015 B000938 S
015 C010938 SINGAPORE
015 D010938 SINGAPORE
015 E040938 X
015 A000939 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000939 S
015 C010939 JOHANNESBURG
015 D010939 SOUTH AFRICA
015 E040939 X
015 A000940 BANCO DE SANTANDER
015 B000940 S
015 C010940 MADRID
015 D010940 SPAIN
015 E040940 X
015 A000941 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000941 S
015 C010941 COLOMBO
015 D010941 SRI LANKA
015 E040941 X
015 A000942 SKANDINAVISKA ENSKILDA BANKEN
015 B000942 S
015 C010942 STOCKHOLM
015 D010942 SWEDEN
015 E040942 X
015 A000943 SWISS BANK CORPORATION
015 B000943 S
015 C010943 ZURICH
015 D010943 SWITZERLAND
015 E040943 X
015 A000944 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000944 S
015 C010944 TAIPEI
015 D010944 TAIWAN (ROC)
015 E040944 X
015 A000945 BANGKOK BANK LTD.
015 B000945 S
015 C010945 BANGKOK
015 D010945 THAILAND
015 E040945 X
015 A000946 YAPI VE KREDI BANKASI A.S.
015 B000946 S
015 C010946 ISTANBUL
015 D010946 TURKEY
015 E040946 X
015 A000947 BANK OF AMERICA FOREIGN DIVISION - LONDON
015 B000947 S
015 C010947 LONDON
015 D010947 UNITED KINGDOM
015 E040947 X
<PAGE> PAGE 83
015 A000948 CITIBANK, N.A.
015 B000948 S
015 C010948 CARACAS
015 D010948 VENEZUELA
015 E040948 X
015 A000949 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
015 B000949 S
015 C010949 FRANKFURT
015 D010949 GERMANY
015 E040949 X
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<PAGE> PAGE 84
048 E010900 2500000
048 E020900 0.420
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048 H020900 0.000
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048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 15000000
048 K020900 0.400
049 000900 N
050 000900 N
051 000900 N
052 000900 N
053 A000900 N
055 A000900 N
055 B000900 N
056 000900 N
057 000900 N
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062 B000900 0.0
062 C000900 0.0
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062 O000900 0.0
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063 B000900 7.3
064 A000900 N
064 B000900 N
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
<PAGE> PAGE 85
070 A020900 Y
070 B010900 Y
070 B020900 N
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070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 Y
070 K010900 Y
070 K020900 N
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070 L020900 Y
070 M010900 Y
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070 N020900 N
070 O010900 Y
070 O020900 N
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070 P020900 Y
070 Q010900 N
070 Q020900 N
070 R010900 Y
070 R020900 N
071 A000900 207296
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071 D000900 22
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<PAGE> PAGE 86
072 M000900 7
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<PAGE> PAGE 87
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008 A001001 FRANKLIN ADVISERS, INC.
008 B001001 A
008 C001001 801-26292
008 D011001 SAN MATEO
008 D021001 CA
008 D031001 94403
008 D041001 7777
015 A001001 BANK OF AMERICA NT & SA
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<PAGE> PAGE 88
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<PAGE> PAGE 89
062 R001000 0.0
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070 K021000 N
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070 L021000 N
070 M011000 N
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070 Q011000 N
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<PAGE> PAGE 90
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<PAGE> PAGE 91
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008 A001101 FRANKLIN ADVISERS, INC.
008 B001101 A
008 C001101 801-26292
008 D011101 SAN MATEO
008 D021101 CA
008 D031101 94403
008 D041101 7777
015 A001101 BANK OF AMERICA NT & SA
015 B001101 C
015 C011101 SAN FRANCISCO
015 C021101 CA
015 C031101 94104
015 C041101 1502
015 E011101 X
015 A001102 CITIBANK, N.A.
015 B001102 S
015 C011102 BUENOS AIRES
015 D011102 ARGENTINA
015 E041102 X
015 A001103 NATIONAL AUSTRALIA BANK LTD.
015 B001103 S
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015 E041103 X
015 A001104 CREDITANSTALT-BANKVEREIN
015 B001104 S
015 C011104 VIENNA
015 D011104 AUSTRIA
015 E041104 X
015 A001105 BARCLAYS BANK PLC VIA STANDARD CHARTERED BANK
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<PAGE> PAGE 92
015 E041105 X
015 A001106 BANQUE BRUSSELS LAMBERT
015 B001106 S
015 C011106 BRUSSELS
015 D011106 BELGIUM
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015 A001107 THE BANK OF N.T. BUTTERFIELD & SON LTD.
015 B001107 S
015 C011107 HAMILTON
015 D011107 BERMUDA
015 E041107 X
015 A001108 CITIBANK, N.A.
015 B001108 S
015 C011108 SAO PAULO
015 D011108 BRAZIL
015 E041108 X
015 A001109 THE CANADA TRUST COMPANY
015 B001109 S
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015 D011109 CANADA
015 E041109 X
015 A001110 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001110 S
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015 D011110 CHINA
015 E041110 X
015 A001111 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001111 S
015 C011111 SHENZHEN
015 D011111 CHINA
015 E041111 X
015 A001112 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
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<PAGE> PAGE 93
015 A001116 BERLINER HANDELS-UND FRANKFURTER BANK
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015 D011117 GREECE
015 E041117 X
015 A001118 BARCLAYS BANK PLC
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015 D011118 HONG KONG
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015 E041120 X
015 A001121 THE HONGKONG AND SHANGHAI BANKING CORP
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015 D011121 INDONESIA
015 E041121 X
015 B001122 S
015 C011122 DUBLIN
015 D011122 IRELAND
015 E041122 X
015 A001123 BANK LEUMI LE-ISRAEL, B.M.
015 B001123 S
015 C011123 TEL AVIV
015 D011123 ISRAEL
015 E041123 X
015 A001124 CITIBANK, N.A.
015 B001124 S
015 C011124 MILAN
015 D011124 ITALY
015 E041124 X
015 A001125 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B001125 S
015 C011125 TOKYO
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015 E041125 X
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<PAGE> PAGE 94
015 C011126 SEOUL
015 D011126 KOREA
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015 A001127 CEDEL S.A. (DEPOSITORY)
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015 C011127 LUXEMBOURG CITY
015 D011127 LUXEMBOURG
015 E041127 X
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015 D011128 MALAYSIA
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015 B001131 S
015 C011131 WELLINGTON
015 D011131 NEW ZEALAND
015 E041131 X
015 A001132 CHRISTIANIA BANK OG KREDITKASSE
015 C011132 BERGEN
015 D011132 NORWAY
015 E041132 X
015 A001133 BANCO DE CREDITO DEL PERU
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015 E041133 X
015 A001134 THE HONGKONG AND SHANGHAI BANKING CORP.
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015 A001135 CITIBANK, N.A.
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015 C011136 LISBON
015 D011136 PORTUGAL
<PAGE> PAGE 95
015 E041136 X
015 A001137 BARCLAYS BANK PLC
015 B001137 S
015 C011137 SINGAPORE
015 D011137 SINGAPORE
015 E041137 X
015 A001138 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B001138 S
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015 D011138 SOUTH AFRICA
015 E041138 X
015 A001139 BANCO DE SANTANDER
015 B001139 S
015 C011139 MADRID
015 D011139 SPAIN
015 E041139 X
015 A001140 STANDARD CHARTERED BANK
015 B001140 S
015 C011140 KARACHI
015 D011140 PAKISTAN
015 E041140 X
015 A001141 THE HONGKONG AND SHANGHAI BANKING CORP, LTD.
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015 D011141 SRI LANKA
015 E041141 X
015 A001142 SKANDINAVISKA ENSKILDA BANKEN
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015 D011142 SWEDEN
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015 A001144 THE HONGKONG AND SHANGHAI BANKING CORP.
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015 A001145 BANGKOK BANK LTD.
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015 D011145 THAILAND
015 E041145 X
015 A001146 YAPI VE KREDI BANKASI A.S.
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<PAGE> PAGE 96
015 A001147 BANK OF AMERICA FOREIGN DIVISION - LONDON
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015 E041147 X
015 A001148 CITIBANK, N.A.
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<PAGE> PAGE 97
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057 001100 N
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<PAGE> PAGE 98
064 B001100 N
066 A001100 N
067 001100 N
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 Y
070 A021100 Y
070 B011100 N
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070 C021100 N
070 D011100 N
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 N
070 F021100 N
070 G011100 N
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
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070 J021100 N
070 K011100 N
070 K021100 N
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070 L021100 N
070 M011100 N
070 M021100 N
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070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 N
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070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 4410
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071 C001100 48955
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<PAGE> PAGE 99
072 F001100 89
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<PAGE> PAGE 100
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008 A001201 FRANKLIN ADVISERS, INC.
008 B001201 A
008 C001201 801-26292
008 D011201 SAN MATEO
008 D021201 CA
008 D031201 94403
008 D041201 7777
015 A001201 BANK OF AMERICA NT & SA
015 B001201 C
015 C011201 SAN FRANCISCO
015 C021201 CA
015 C031201 94104
015 C041201 1502
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015 A001203 CITIBANK, N.A.
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015 A001204 NATIONAL AUSTRALIA BANK LTD.
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015 C011204 MELBOURNE
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015 E041204 X
015 A001205 CREDITANSTALT-BANKVEREIN
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015 C011205 VIENNA
015 D011205 AUSTRIA
015 E041205 X
015 A001206 STANDARD CHARTERED BANK
015 B001206 S
015 C011206 DHAKA
015 D011206 BANGLADESH
015 E041206 X
015 A001207 BANQUE BRUSSELS LAMBERT
015 B001207 S
015 C011207 BRUSSELS
<PAGE> PAGE 101
015 D011207 BELGIUM
015 E041207 X
015 A001208 THE BANK OF N.T. BUTTERFIELD & SON LTD.
015 B001208 S
015 C011208 HAMILTON
015 D011208 BERMUDA
015 E041208 X
015 A001209 CITIBANK, N.A.
015 B001209 S
015 C011209 SAO PAULO
015 D011209 BRAZIL
015 E041209 X
015 A001210 THE CANADA TRUST COMPANY
015 B001210 S
015 C011210 TORONTO
015 D011210 CANADA
015 E041210 X
015 A001211 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001211 S
015 C011211 SHANGHAI
015 D011211 CHINA
015 E041211 X
015 A001212 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001212 S
015 C011212 SHENZHEN
015 D011212 CHINA
015 E041212 X
015 A001213 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
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015 C011213 BOGOTA
015 D011213 COLOMBIA
015 E041213 X
015 A001214 UNIBANK
015 B001214 S
015 C011214 COPENHAGEN
015 D011214 DENMARK
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015 A001215 KANSALLIS-OSAKE-PANKKI
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015 C011215 HELSINKI
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015 C011216 PARIS
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015 A001217 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
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<PAGE> PAGE 102
015 E041217 X
015 A001218 BARCLAYS BANK PLC
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015 C011218 ATHENS
015 D011218 GREECE
015 E041218 X
015 A001219 BARCLAYS BANK PLC
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015 C011219 HONG KONG
015 D011219 HONG KONG
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015 A001220 CITIBANK, N.A.
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015 C011220 BUDAPEST
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015 A001221 STANDARD CHARTERED BANK
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015 A001222 THE HONGKONG AND SHANGHAI BANKING CORP.
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015 A001223 BANK OF IRELAND
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015 A001224 BANK LEUMI LE-ISRAEL, B.M.
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015 C011224 TEL AVIV
015 D011224 ISRAEL
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015 A001225 CITIBANK, N.A.
015 B001225 S
015 C011225 MILAN
015 D011225 ITALY
015 E041225 X
015 A001226 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B001226 S
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015 D011226 JAPAN
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015 A001227 THE HONGKONG AND SHANGHAI BANKING CORP.
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015 D011227 KOREA
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<PAGE> PAGE 103
015 A001228 CEDEL S.A. (DEPOSITORY)
015 B001228 S
015 C011228 LUXEMBOURG CITY
015 D011228 LUXEMBOURG
015 E041228 X
015 A001229 UNITED MALAYAN BANKING CORPORATION BERHAD
015 B001229 S
015 C011229 KUALA LUMPUR
015 D011229 MALAYSIA
015 E041229 X
015 A001230 BANCO NACIONAL DE MEXICO
015 B001230 S
015 C011230 MEXICO CITY
015 D011230 MEXICO
015 E041230 X
015 A001231 KAS-ASSOCIATIE N.V.
015 B001231 S
015 C011231 AMSTERDAM
015 D011231 NETHERLANDS
015 E041231 X
015 A001232 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B001232 S
015 C011232 WELLINGTON
015 D011232 NEW ZEALAND
015 E041232 X
015 A001233 CHRISTIANIA BANK OG KREDITKASSE
015 B001233 S
015 C011233 BERGEN
015 D011233 NORWAY
015 E041233 X
015 A001234 BARCLAYS BANK PLC VIA STANDARD CHARTERED BANK
015 B001234 S
015 C011234 KARACHI
015 D011234 PAKISTAN
015 E041234 X
015 A001235 BANCO DE CREDITO DEL PERU
015 B001235 S
015 C011235 LIMA
015 D011235 PERU
015 E041235 X
015 A001236 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001236 S
015 C011236 MANILA
015 D011236 PHILIPPINES
015 E041236 X
015 A001237 CITIBANK, N.A.
015 B001237 S
015 C011237 WARSAW
015 D011237 POLAND
015 E041237 X
015 A001238 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
<PAGE> PAGE 104
015 B001238 S
015 C011238 LISBON
015 D011238 PORTUGAL
015 E041238 X
015 A001239 BARCLAYS BANK PLC
015 B001239 S
015 C011239 SINGAPORE
015 D011239 SINGAPORE
015 E041239 X
015 A001240 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B001240 S
015 C011240 JOHANNESBURG
015 D011240 SOUTH AFRICA
015 E041240 X
015 A001241 BANCO DE SANTANDER
015 B001241 S
015 C011241 MADRID
015 D011241 SPAIN
015 E041241 X
015 A001242 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001242 S
015 C011242 COLOMBO
015 D011242 SRI LANKA
015 E041242 X
015 A001243 SKANDINAVISKA ENSKILDA BANKEN
015 B001243 S
015 C011243 STOCKHOLM
015 D011243 SWEDEN
015 E041243 X
015 A001244 SWISS BANK CORPORATION
015 B001244 S
015 C011244 ZURICH
015 D011244 SWITZERLAND
015 E041244 X
015 A001245 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001245 S
015 C011245 TAIPEI
015 D011245 TAIWAN (ROC)
015 E041245 X
015 A001246 BANGKOK BANK LTD.
015 B001246 S
015 C011246 BANGKOK
015 D011246 THAILAND
015 E041246 X
015 A001247 YAPI VE KREDI BANKASI A.S.
015 B001247 S
015 C011247 ISTANBUL
015 D011247 TURKEY
015 E041247 X
015 A001248 BANK OF AMERICA FOREIGN DIVISION - LONDON
015 B001248 S
<PAGE> PAGE 105
015 C011248 LONDON
015 D011248 UNITED KINGDOM
015 E041248 X
015 A001249 CITIBANK, N.A.
015 B001249 S
015 C011249 CARACAS
015 D011249 VENEZUELA
015 E041249 X
015 A001250 BERLINER HANDELS-UND FRANKFURTER BANK
015 B001250 S
015 C011250 FRANKFURT
015 D011250 GERMANY
015 E041250 X
028 A011200 5462
028 A021200 0
028 A031200 0
028 A041200 1404
028 B011200 5335
028 B021200 0
028 B031200 0
028 B041200 1711
028 C011200 6260
028 C021200 0
028 C031200 0
028 C041200 2010
028 D011200 3333
028 D021200 0
028 D031200 0
028 D041200 1235
028 E011200 2960
028 E021200 0
028 E031200 0
028 E041200 1733
028 F011200 4120
028 F021200 5283
028 F031200 0
028 F041200 5235
028 G011200 27470
028 G021200 5283
028 G031200 0
028 G041200 13328
028 H001200 0
045 001200 Y
046 001200 N
047 001200 Y
048 001200 0.000
048 A011200 100000
048 A021200 0.625
048 B011200 150000
048 B021200 0.500
048 C011200 9750000
<PAGE> PAGE 106
048 C021200 0.450
048 D011200 2500000
048 D021200 0.440
048 E011200 2500000
048 E021200 0.420
048 F011200 0
048 F021200 0.000
048 G011200 0
048 G021200 0.000
048 H011200 0
048 H021200 0.000
048 I011200 0
048 I021200 0.000
048 J011200 0
048 J021200 0.000
048 K011200 15000000
048 K021200 0.400
049 001200 N
050 001200 N
051 001200 N
052 001200 N
053 A001200 Y
053 B001200 Y
053 C001200 N
055 A001200 N
055 B001200 N
056 001200 N
057 001200 N
062 A001200 Y
062 B001200 0.0
062 C001200 0.0
062 D001200 0.6
062 E001200 0.0
062 F001200 0.0
062 G001200 0.0
062 H001200 0.0
062 I001200 0.0
062 J001200 0.0
062 K001200 0.0
062 L001200 0.0
062 M001200 22.5
062 N001200 75.5
062 O001200 0.0
062 P001200 0.0
062 Q001200 1.4
062 R001200 0.0
063 A001200 0
063 B001200 5.5
064 A001200 N
064 B001200 N
066 A001200 N
<PAGE> PAGE 107
067 001200 N
068 A001200 N
068 B001200 N
069 001200 N
070 A011200 Y
070 A021200 Y
070 B011200 N
070 B021200 N
070 C011200 N
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 N
070 E021200 N
070 F011200 N
070 F021200 N
070 G011200 N
070 G021200 N
070 H011200 N
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 N
070 K021200 N
070 L011200 Y
070 L021200 N
070 M011200 N
070 M021200 N
070 N011200 Y
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 Y
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200 14702
071 B001200 716
071 C001200 108699
071 D001200 1
072 A001200 6
072 B001200 3720
072 C001200 0
072 D001200 0
072 E001200 0
072 F001200 204
072 G001200 0
<PAGE> PAGE 108
072 H001200 0
072 I001200 0
072 J001200 5
072 K001200 2
072 L001200 3
072 M001200 1
072 N001200 0
072 O001200 0
072 P001200 0
072 Q001200 0
072 R001200 2
072 S001200 0
072 T001200 0
072 U001200 0
072 V001200 0
072 W001200 2
072 X001200 219
072 Y001200 0
072 Z001200 3501
072AA001200 47
072BB001200 0
072CC011200 10786
072CC021200 0
072DD011200 5283
072DD021200 0
072EE001200 0
073 A011200 0.6685
073 A021200 0.0000
073 B001200 0.0000
073 C001200 0.0000
074 A001200 0
074 B001200 683
074 C001200 0
074 D001200 121998
074 E001200 0
074 F001200 0
074 G001200 0
074 H001200 0
074 I001200 0
074 J001200 0
074 K001200 0
074 L001200 168
074 M001200 0
074 N001200 122849
074 O001200 0
074 P001200 143
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
074 R041200 0
<PAGE> PAGE 109
074 S001200 0
074 T001200 122706
074 U011200 8275
074 U021200 0
074 V011200 14.83
074 V021200 0.00
074 W001200 0.0000
074 X001200 3
074 Y001200 0
075 A001200 0
075 B001200 110746
076 001200 0.00
008 A001301 FRANKLIN ADVISERS, INC.
008 B001301 A
008 C001301 801-26292
008 D011301 SAN MATEO
008 D021301 CA
008 D031301 94403
008 D041301 7777
015 A001301 BANK OF AMERICA NT & SA
015 B001301 C
015 C011301 SAN FRANCISCO
015 C021301 CA
015 C031301 94104
015 C041301 1502
015 E011301 X
015 A001302 CITIBANK, N.A.
015 B001302 S
015 C011302 BUENOS AIRES
015 D011302 ARGENTINA
015 E041302 X
015 A001304 NATIONAL AUSTRALIA BANK LTD.
015 B001304 S
015 C011304 MELBOURNE
015 D011304 AUSTRALIA
015 E041304 X
015 A001305 CREDITANSTALT-BANKVEREIN
015 B001305 S
015 C011305 VIENNA
015 D011305 AUSTRIA
015 E041305 X
015 A001306 STANDARD CHARTERED BANK
015 B001306 S
015 C011306 DHAKA
015 D011306 BANGLADESH
015 E041306 X
015 A001307 BANQUE BRUSSELS LAMBERT
015 B001307 S
015 C011307 BRUSSELS
015 D011307 BELGIUM
015 E041307 X
<PAGE> PAGE 110
015 A001308 THE BANK OF N.T. BUTTERFIELD & SON LTD.
015 B001308 S
015 C011308 HAMILTON
015 D011308 BERMUDA
015 E041308 X
015 A001309 CITIBANK, N.A.
015 B001309 S
015 C011309 SAO PAULO
015 D011309 BRAZIL
015 E041309 X
015 A001310 THE CANADA TRUST COMPANY
015 B001310 S
015 C011310 TORONTO
015 D011310 CANADA
015 E041310 X
015 A001311 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001311 S
015 C011311 SHANGHAI
015 D011311 CHINA
015 E041311 X
015 A001312 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001312 S
015 C011312 SHENZHEN
015 D011312 CHINA
015 E041312 X
015 A001313 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B001313 S
015 C011313 BOGOTA
015 D011313 COLOMBIA
015 E041313 X
015 A001314 UNIBANK
015 B001314 S
015 C011314 COPENHAGEN
015 D011314 DENMARK
015 E041314 X
015 A001315 KANSALLIS-OSAKE-PANKKI
015 B001315 S
015 C011315 HELSINKI
015 D011315 FINLAND
015 E041315 X
015 A001316 SOCIETE GENERALE
015 B001316 S
015 C011316 PARIS
015 D011316 FRANCE
015 E041316 X
015 A001317 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
015 B001317 S
015 C011317 FRANKFURT
015 D011317 GERMANY
015 E041317 X
015 A001318 BARCLAYS BANK PLC
<PAGE> PAGE 111
015 B001318 S
015 C011318 ATHENS
015 D011318 GREECE
015 E041318 X
015 A001319 BARCLAYS BANK PLC
015 B001319 S
015 C011319 HONG KONG
015 D011319 HONG KONG
015 E041319 X
015 A001320 CITIBANK, N.A.
015 B001320 S
015 C011320 BUDAPEST
015 D011320 HUNGARY
015 E041320 X
015 A001321 STANDARD CHARTERED BANK
015 B001321 S
015 C011321 FORT BOMBAY
015 D011321 INDIA
015 E041321 X
015 A001322 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001322 S
015 C011322 JAKARTA
015 D011322 INDONESIA
015 E041322 X
015 A001323 BANK OF IRELAND
015 B001323 S
015 C011323 DUBLIN
015 D011323 IRELAND
015 E041323 X
015 A001324 BANK LEUMI LE-ISRAEL, B.M.
015 B001324 S
015 C011324 TEL AVIV
015 D011324 ISRAEL
015 E041324 X
015 A001325 CITIBANK, N.A.
015 B001325 S
015 C011325 MILAN
015 D011325 ITALY
015 E041325 X
015 A001326 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B001326 S
015 C011326 TOKYO
015 D011326 JAPAN
015 E041326 X
015 A001327 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001327 S
015 C011327 SEOUL
015 D011327 KOREA
015 E041327 X
015 A001328 CEDEL S.A. (DEPOSITORY)
015 B001328 S
<PAGE> PAGE 112
015 C011328 LUXEMBOURG CITY
015 D011328 LUXEMBOURG
015 E041328 X
015 A001329 UNITED MALAYAN BANKING CORPORATION BERHAD
015 B001329 S
015 C011329 KUALA LUMPUR
015 D011329 MALAYSIA
015 E041329 X
015 A001330 BANCO NACIONAL DE MEXICO
015 B001330 S
015 C011330 MEXICO CITY
015 D011330 MEXICO
015 E041330 X
015 A001331 KAS-ASSOCIATIE N.V.
015 B001331 S
015 C011331 AMSTERDAM
015 D011331 NETHERLANDS
015 E041331 X
015 A001332 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B001332 S
015 C011332 WELLINGTON
015 D011332 NEW ZEALAND
015 E041332 X
015 A001333 CHRISTIANIA BANK OG KREDITKASSE
015 B001333 S
015 C011333 BERGEN
015 D011333 NORWAY
015 E041333 X
015 A001334 STANDARD CHARTERED BANK
015 B001334 S
015 C011334 KARACHI
015 D011334 PAKISTAN
015 E041334 X
015 A001335 BANCO DE CREDITO DEL PERU
015 B001335 S
015 C011335 LIMA
015 D011335 PERU
015 E041335 X
015 A001336 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001336 S
015 C011336 MANILA
015 D011336 PHILIPPINES
015 E041336 X
015 A001337 CITIBANK, N.A.
015 B001337 S
015 C011337 WARSAW
015 D011337 POLAND
015 E041337 X
015 A001338 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B001338 S
015 C011338 LISBON
<PAGE> PAGE 113
015 D011338 PORTUGAL
015 E041338 X
015 A001339 BARCLAYS BANK PLC
015 B001339 S
015 C011339 SINGAPORE
015 D011339 SINGAPORE
015 E041339 X
015 A001340 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B001340 S
015 C011340 JOHANNESBURG
015 D011340 SOUTH AFRICA
015 E041340 X
015 A001341 BANCO DE SANTANDER
015 B001341 S
015 C011341 MADRID
015 D011341 SPAIN
015 E041341 X
015 A001342 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001342 S
015 C011342 JAKARTA
015 D011342 SRI LANKA
015 E041342 X
015 A001343 SKANDINAVISKA ENSKILDA BANKEN
015 B001343 S
015 C011343 STOCKHOLM
015 D011343 SWEDEN
015 E041343 X
015 A001344 SWISS BANK CORPORATION
015 B001344 S
015 C011344 ZURICH
015 D011344 SWITZERLAND
015 E041344 X
015 A001345 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001345 S
015 C011345 TAIPEI
015 D011345 TAIWAN (ROC)
015 E041345 X
015 A001346 BANGKOK BANK LTD.
015 B001346 S
015 C011346 BANGKOK
015 D011346 THAILAND
015 E041346 X
015 A001347 YAPI VE KREDI BANKASI A.S.
015 B001347 S
015 C011347 ISTANBUL
015 D011347 TURKEY
015 E041347 X
015 A001348 BANK OF AMERICA FOREIGN DIVISION - LONDON
015 B001348 S
015 C011348 LONDON
015 D011348 UNITED KINGDOM
<PAGE> PAGE 114
015 E041348 X
015 A001349 CITIBANK, N.A.
015 B001349 S
015 C011349 CARACAS
015 D011349 VENEZUELA
015 E041349 X
015 A001350 BERLINER HANDELS-UND FRANKFURTER BANK
015 B001350 S
015 C011350 FRANKFURT
015 D011350 GERMANY
015 E041350 X
028 A011300 3174
028 A021300 0
028 A031300 0
028 A041300 487
028 B011300 3799
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028 C011300 2755
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028 C041300 1019
028 D011300 1441
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028 D031300 0
028 D041300 1381
028 E011300 2369
028 E021300 0
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028 F011300 1763
028 F021300 2942
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028 F041300 1688
028 G011300 15301
028 G021300 2942
028 G031300 0
028 G041300 7563
028 H001300 0
045 001300 Y
046 001300 N
047 001300 Y
048 001300 0.000
048 A011300 100000
048 A021300 0.625
048 B011300 150000
048 B021300 0.500
048 C011300 9750000
048 C021300 0.450
048 D011300 2500000
<PAGE> PAGE 115
048 D021300 0.440
048 E011300 2500000
048 E021300 0.420
048 F011300 0
048 F021300 0.000
048 G011300 0
048 G021300 0.000
048 H011300 0
048 H021300 0.000
048 I011300 0
048 I021300 0.000
048 J011300 0
048 J021300 0.000
048 K011300 15000000
048 K021300 0.400
049 001300 N
050 001300 N
051 001300 N
052 001300 N
053 A001300 Y
053 B001300 Y
053 C001300 N
055 A001300 N
055 B001300 N
056 001300 N
057 001300 N
062 A001300 Y
062 B001300 0.0
062 C001300 0.0
062 D001300 2.0
062 E001300 0.0
062 F001300 0.0
062 G001300 0.0
062 H001300 0.0
062 I001300 0.0
062 J001300 0.0
062 K001300 0.0
062 L001300 0.0
062 M001300 15.4
062 N001300 79.5
062 O001300 0.0
062 P001300 1.2
062 Q001300 2.2
062 R001300 0.0
063 A001300 0
063 B001300 10.0
064 A001300 N
064 B001300 N
066 A001300 N
067 001300 N
068 A001300 N
<PAGE> PAGE 116
068 B001300 N
069 001300 N
070 A011300 Y
070 A021300 Y
070 B011300 N
070 B021300 N
070 C011300 N
070 C021300 N
070 D011300 N
070 D021300 N
070 E011300 N
070 E021300 N
070 F011300 N
070 F021300 N
070 G011300 N
070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 N
070 K021300 N
070 L011300 Y
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 Y
070 N021300 N
070 O011300 N
070 O021300 N
070 P011300 Y
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300 6687
071 B001300 0
071 C001300 60801
071 D001300 0
072 A001300 6
072 B001300 2128
072 C001300 0
072 D001300 0
072 E001300 0
072 F001300 115
072 G001300 0
072 H001300 0
072 I001300 0
<PAGE> PAGE 117
072 J001300 3
072 K001300 1
072 L001300 2
072 M001300 0
072 N001300 0
072 O001300 0
072 P001300 0
072 Q001300 0
072 R001300 1
072 S001300 0
072 T001300 0
072 U001300 0
072 V001300 0
072 W001300 2
072 X001300 124
072 Y001300 0
072 Z001300 2004
072AA001300 0
072BB001300 0
072CC011300 9052
072CC021300 0
072DD011300 2942
072DD021300 0
072EE001300 0
073 A011300 0.6851
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073 B001300 0.0000
073 C001300 0.0000
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074 B001300 1436
074 C001300 0
074 D001300 69045
074 E001300 0
074 F001300 0
074 G001300 0
074 H001300 0
074 I001300 0
074 J001300 0
074 K001300 0
074 L001300 22
074 M001300 1
074 N001300 70504
074 O001300 0
074 P001300 25
074 Q001300 0
074 R011300 0
074 R021300 0
074 R031300 0
074 R041300 186
074 S001300 0
074 T001300 70293
<PAGE> PAGE 118
074 U011300 4469
074 U021300 0
074 V011300 15.73
074 V021300 0.00
074 W001300 0.0000
074 X001300 3
074 Y001300 0
075 A001300 0
075 B001300 62085
076 001300 0.00
008 A001401 FRANKLIN ADVISERS, INC.
008 B001401 A
008 C001401 801-26292
008 D011401 SAN MATEO
008 D021401 CA
008 D031401 94403
008 D041401 7777
015 A001401 BANK OF AMERICA NT & SA
015 B001401 C
015 C011401 SAN FRANCISCO
015 C021401 CA
015 C031401 94104
015 C041401 1502
015 E011401 X
015 A001402 CITIBANK, N.A.
015 B001402 S
015 C011402 BUENOS AIRES
015 D011402 ARGENTINA
015 E041402 X
015 A001403 NATIONAL AUSTRALIA BANK LTD.
015 B001403 S
015 C011403 MELBOURNE
015 D011403 AUSTRALIA
015 E041403 X
015 A001404 CREDITANSTALT-BANKVEREIN
015 B001404 S
015 C011404 VIENNA
015 D011404 AUSTRIA
015 E041404 X
015 A001405 STANDARD CHARTERED BANK
015 B001405 S
015 C011405 DHAKA
015 D011405 BANGLADESH
015 E041405 X
015 A001406 BANQUE BRUSSELS LAMBERT
015 B001406 S
015 C011406 BRUSSELS
015 D011406 BELGIUM
015 E041406 X
015 A001407 THE BANK OF N.T. BUTTERFIELD & SON LTD.
015 B001407 S
<PAGE> PAGE 119
015 C011407 HAMILTON
015 D011407 BERMUDA
015 E041407 X
015 A001408 CITIBANK, N.A.
015 B001408 S
015 C011408 SAO PAULO
015 D011408 BRAZIL
015 E041408 X
015 A001409 THE CANADA TRUST COMPANY
015 B001409 S
015 C011409 TORONTO
015 D011409 CANADA
015 E041409 X
015 A001410 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001410 S
015 C011410 SHANGHAI
015 D011410 CHINA
015 E041410 X
015 A001411 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001411 S
015 C011411 SHENZHEN
015 D011411 CHINA
015 E041411 X
015 A001412 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B001412 S
015 C011412 BOGOTA
015 D011412 COLOMBIA
015 E041412 X
015 A001413 UNIBANK
015 B001413 S
015 C011413 COPENHAGEN
015 D011413 DENMARK
015 E041413 X
015 A001414 KANSALLIS-OSAKE-PANKKI
015 B001414 S
015 C011414 HELSINKI
015 D011414 FINLAND
015 E041414 X
015 A001415 SOCIETE GENERALE
015 B001415 S
015 C011415 PARIS
015 D011415 FRANCE
015 E041415 X
015 A001416 BERLINER HANDELS-UND FRANKFURTER BANK
015 B001416 S
015 C011416 FRANKFURT
015 D011416 GERMANY
015 E041416 X
015 A001417 BARCLAYS BANK PLC
015 B001417 S
015 C011417 ATHENS
<PAGE> PAGE 120
015 D011417 GREECE
015 E041417 X
015 A001418 BARCLAYS BANK PLC
015 B001418 S
015 C011418 HONG KONG
015 D011418 HONG KONG
015 E041418 X
015 A001419 CITIBANK, N.A.
015 B001419 S
015 C011419 BUDAPEST
015 D011419 HUNGARY
015 E041419 X
015 A001420 STANDARD CHARTERED BANK
015 B001420 S
015 C011420 FORT BOMBAY
015 D011420 INDIA
015 E041420 X
015 A001421 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001421 S
015 C011421 JAKARTA
015 D011421 INDONESIA
015 E041421 X
015 A001422 BANK OF IRELAND
015 B001422 S
015 C011422 DUBLIN
015 D011422 IRELAND
015 E041422 X
015 A001423 BANK LEUMI LE-ISRAEL, B.M.
015 B001423 S
015 C011423 TEL AVIV
015 D011423 ISRAEL
015 E041423 X
015 A001424 CITIBANK, N.A.
015 B001424 S
015 C011424 MILAN
015 D011424 ITALY
015 E041424 X
015 A001425 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B001425 S
015 C011425 TOKYO
015 D011425 JAPAN
015 E041425 X
015 A001426 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001426 S
015 C011426 SEOUL
015 D011426 KOREA
015 E041426 X
015 A001427 CEDEL S.A. (DEPOSITORY)
015 B001427 S
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015 D011427 LUXEMBOURG
<PAGE> PAGE 121
015 E041427 X
015 A001428 UNITED MALAYAN BANKING CORPORATION BERHAD
015 B001428 S
015 C011428 KUALA LUMPUR
015 D011428 MALAYSIA
015 E041428 X
015 A001429 BANCO NACIONAL DE MEXICO
015 B001429 S
015 C011429 MEXICO CITY
015 D011429 MEXICO
015 E041429 X
015 A001430 KAS-ASSOCIATIE N.V.
015 B001430 S
015 C011430 AMSTERDAM
015 D011430 NETHERLANDS
015 E041430 X
015 A001431 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B001431 S
015 C011431 WELLINGTON
015 D011431 NEW ZEALAND
015 E041431 X
015 A001432 CHRISTIANIA BANK OG KREDITKASSE
015 B001432 S
015 C011432 BERGEN
015 D011432 NORWAY
015 E041432 X
015 A001433 STANDARD CHARTERED BANK
015 B001433 S
015 C011433 KARACHI
015 D011433 PAKISTAN
015 E041433 X
015 A001434 BANCO DE CREDITO DEL PERU
015 B001434 S
015 C011434 LIMA
015 D011434 PERU
015 E041434 X
015 A001435 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001435 S
015 C011435 MANILA
015 D011435 PHILIPPINES
015 E041435 X
015 A001436 CITIBANK, N.A.
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015 E041436 X
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<PAGE> PAGE 122
015 A001438 BARCLAYS BANK PLC
015 B001438 S
015 C011438 SINGAPORE
015 D011438 SINGAPORE
015 E041438 X
015 A001439 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B001439 S
015 C011439 JOHANNESBURG
015 D011439 SOUTH AFRICA
015 E041439 X
015 A001440 BANCO DE SANTANDER
015 B001440 S
015 C011440 MADRID
015 D011440 SPAIN
015 E041440 X
015 A001441 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001441 S
015 C011441 COLOMBO
015 D011441 SRI LANKA
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015 A001442 SKANDINAVISKA ENSKILDA BANKEN
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015 C011442 DUBLIN
015 D011442 SWEDEN
015 E041442 X
015 A001443 SWISS BANK CORPORATION
015 B001443 S
015 C011443 ZURICH
015 D011443 SWITZERLAND
015 E041443 X
015 A001444 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001444 S
015 C011444 TAIPEI
015 D011444 TAIWAN (ROC)
015 E041444 X
015 A001445 BARCLAYS BANK PLC VIA BANGKOK BANK LTD.
015 B001445 S
015 C011445 BANGKOK
015 D011445 THAILAND
015 E041445 X
015 A001446 YAPI VE KREDI BANKASI A.S.
015 B001446 S
015 C011446 ISTANBUL
015 D011446 TURKEY
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015 A001447 BANK OF AMERICA FOREIGN DIVISION - LONDON
015 B001447 S
015 C011447 LONDON
015 D011447 UNITED KINGDOM
015 E041447 X
015 A001448 CITIBANK, N.A.
<PAGE> PAGE 123
015 B001448 S
015 C011448 CARACAS
015 D011448 VENEZUELA
015 E041448 X
015 A001449 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
015 B001449 S
015 C011449 FRANKFURT
015 D011449 GERMANY
015 E041449 X
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028 A021400 0
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045 001400 Y
046 001400 N
047 001400 Y
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<PAGE> PAGE 124
048 E021400 0.420
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048 J021400 0.000
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050 001400 N
051 001400 N
052 001400 N
053 A001400 Y
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053 C001400 N
055 A001400 N
055 B001400 N
056 001400 N
057 001400 N
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063 A001400 0
063 B001400 15.5
064 A001400 N
064 B001400 N
066 A001400 N
067 001400 N
068 A001400 N
068 B001400 N
069 001400 N
<PAGE> PAGE 125
070 A011400 Y
070 A021400 Y
070 B011400 N
070 B021400 N
070 C011400 N
070 C021400 N
070 D011400 N
070 D021400 N
070 E011400 N
070 E021400 N
070 F011400 N
070 F021400 N
070 G011400 N
070 G021400 N
070 H011400 N
070 H021400 N
070 I011400 N
070 I021400 N
070 J011400 Y
070 J021400 N
070 K011400 N
070 K021400 N
070 L011400 Y
070 L021400 N
070 M011400 N
070 M021400 N
070 N011400 Y
070 N021400 N
070 O011400 Y
070 O021400 N
070 P011400 Y
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 N
070 R021400 N
071 A001400 18743
071 B001400 7853
071 C001400 57083
071 D001400 14
072 A001400 6
072 B001400 2092
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<PAGE> PAGE 126
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<PAGE> PAGE 127
074 V011400 15.65
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008 A001501 FRANKLIN ADVISERS, INC.
008 B001501 A
008 C001501 801-26292
008 D011501 SAN MATEO
008 D021501 CA
008 D031501 94403
008 D041501 7777
015 A001501 BANK OF AMERICA NT & SA
015 B001501 C
015 C011501 SAN FRANCISCO
015 C021501 CA
015 C031501 94104
015 C041501 1502
015 E011501 X
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<PAGE> PAGE 128
046 001500 N
047 001500 Y
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048 K011500 15000000
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049 001500 N
050 001500 N
051 001500 N
052 001500 N
053 A001500 N
055 A001500 N
055 B001500 N
056 001500 N
057 001500 N
062 A001500 Y
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062 H001500 0.0
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<PAGE> PAGE 129
062 R001500 0.0
063 A001500 0
063 B001500 19.7
064 A001500 Y
064 B001500 N
066 A001500 N
067 001500 N
068 A001500 N
068 B001500 N
069 001500 N
070 A011500 Y
070 A021500 Y
070 B011500 N
070 B021500 N
070 C011500 N
070 C021500 N
070 D011500 N
070 D021500 N
070 E011500 N
070 E021500 N
070 F011500 N
070 F021500 N
070 G011500 N
070 G021500 N
070 H011500 N
070 H021500 N
070 I011500 N
070 I021500 N
070 J011500 Y
070 J021500 N
070 K011500 Y
070 K021500 N
070 L011500 N
070 L021500 N
070 M011500 N
070 M021500 N
070 N011500 Y
070 N021500 N
070 O011500 N
070 O021500 N
070 P011500 Y
070 P021500 N
070 Q011500 N
070 Q021500 N
070 R011500 N
070 R021500 N
071 A001500 28607
071 B001500 76977
071 C001500 193565
071 D001500 15
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<PAGE> PAGE 130
072 B001500 7522
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<PAGE> PAGE 131
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008 A001601 FRANKLIN ADVISERS, INC.
008 B001601 A
008 C001601 801-26292
008 D011601 SAN MATEO
008 D021601 CA
008 D031601 94403
008 D041601 7777
015 A001601 BANK OF AMERICA NT & SA
015 B001601 C
015 C011601 SAN FRANCISCO
015 C021601 CA
015 C031601 94104
015 C041601 1502
015 E011601 X
015 A001602 CITIBANK, N.A.
015 B001602 S
015 C011602 BUENOS AIRES
015 D011602 ARGENTINA
015 E041602 X
015 A001603 NATIONAL AUSTRALIA BANK LTD.
015 B001603 S
015 C011603 MELBOURNE
015 D011603 AUSTRALIA
015 E041603 X
015 A001604 CREDITANSTALT-BANKVEREIN
015 B001604 S
015 C011604 VIENNA
015 D011604 AUSTRIA
015 E041604 X
015 A001605 BANQUE BRUSSELS LAMBERT
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015 C011605 BRUSSELS
015 D011605 BELGIUM
<PAGE> PAGE 132
015 E041605 X
015 A001606 THE BANK OF N.T. BUTTERFIELD & SON LIMITED
015 B001606 S
015 C011606 HAMILTON
015 D011606 BERMUDA
015 E041606 X
015 A001607 CITIBANK, N.A.
015 B001607 S
015 C011607 SAN PAULO
015 D011607 BRAZIL
015 E041607 X
015 A001608 THE CANANDA TRUST COMPANY
015 B001608 S
015 C011608 TORONTO
015 D011608 CANADA
015 E041608 X
015 A001609 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001609 S
015 C011609 SHANGHAI
015 D011609 CHINA
015 E041609 X
015 A001610 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001610 S
015 C011610 SHENZHEN
015 D011610 CHINA
015 E041610 X
015 A001611 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B001611 S
015 C011611 BOGOTA
015 D011611 COLOMBIA
015 E041611 X
015 A001612 UNIBANK
015 B001612 S
015 C011612 COPENHAGEN
015 D011612 DENMARK
015 E041612 X
015 A001613 KANSALLIS-OSAKE-PANKKI
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015 D011613 FINLAND
015 E041613 X
015 A001614 SOCIETE GENERALE
015 B001614 S
015 C011614 PARIS
015 D011614 FRANCE
015 E041614 X
015 A001615 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
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015 C011615 FRANKFURT
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<PAGE> PAGE 133
015 A001616 BERLINER HANDELS-UND FRANKFURTER BANK
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015 C011616 FRANKFURT
015 D011616 GERMANY
015 E041616 X
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015 A001618 BARCLAYS BANK PLC
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015 A001621 THE HONGKONG AND SHANGHAI BANKING CORP.
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015 D011621 INDONESIA
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015 A001622 BANK OF IRELAND
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015 A001626 THE HONGKONG AND SHANGHAI BANKING CORP.
<PAGE> PAGE 134
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015 D011627 LEXEMBOURG
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015 D011628 MALAYSIA
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015 E041630 X
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<PAGE> PAGE 135
015 C011636 WARSAW
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<PAGE> PAGE 136
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<PAGE> PAGE 137
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052 001600 N
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055 A001600 N
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056 001600 N
057 001600 N
062 A001600 N
062 B001600 0.0
062 C001600 0.0
062 D001600 0.0
062 E001600 0.0
062 F001600 0.0
062 G001600 0.0
062 H001600 0.0
062 J001600 0.0
062 K001600 0.0
062 L001600 0.0
062 M001600 0.0
062 N001600 0.0
062 O001600 0.0
062 P001600 0.0
062 Q001600 0.0
062 R001600 0.0
063 A001600 0
063 B001600 0.0
066 A001600 Y
066 B001600 N
066 C001600 N
<PAGE> PAGE 138
066 D001600 N
066 E001600 Y
066 F001600 N
066 G001600 N
067 001600 N
068 A001600 N
068 B001600 N
069 001600 N
070 A011600 Y
070 A021600 Y
070 B011600 Y
070 B021600 N
070 C011600 Y
070 C021600 N
070 D011600 N
070 D021600 N
070 E011600 N
070 E021600 N
070 F011600 N
070 F021600 N
070 G011600 N
070 G021600 N
070 H011600 N
070 H021600 N
070 I011600 N
070 I021600 N
070 J011600 Y
070 J021600 N
070 K011600 N
070 K021600 N
070 L011600 Y
070 L021600 Y
070 M011600 Y
070 M021600 N
070 N011600 Y
070 N021600 N
070 O011600 Y
070 O021600 N
070 P011600 Y
070 P021600 N
070 Q011600 N
070 Q021600 N
070 R011600 N
070 R021600 N
071 A001600 23096
071 B001600 35540
071 C001600 281239
071 D001600 8
072 A001600 6
072 B001600 1822
072 C001600 4384
<PAGE> PAGE 139
072 D001600 0
072 E001600 0
072 F001600 1290
072 G001600 0
072 H001600 0
072 I001600 0
072 J001600 15
072 K001600 7
072 L001600 9
072 M001600 2
072 N001600 0
072 O001600 0
072 P001600 0
072 Q001600 0
072 R001600 4
072 S001600 1
072 T001600 0
072 U001600 0
072 V001600 0
072 W001600 2
072 X001600 1330
072 Y001600 0
072 Z001600 4876
072AA001600 3524
072BB001600 3395
072CC011600 38850
072CC021600 0
072DD011600 8064
072DD021600 0
072EE001600 0
073 A011600 0.2410
073 A021600 0.0000
073 B001600 0.0000
073 C001600 0.0000
074 A001600 0
074 B001600 86852
074 C001600 0
074 D001600 0
074 E001600 0
074 F001600 292640
074 G001600 0
074 H001600 0
074 I001600 0
074 J001600 553
074 K001600 0
074 L001600 1610
074 M001600 0
074 N001600 381655
074 O001600 1473
074 P001600 235
074 Q001600 0
<PAGE> PAGE 140
074 R011600 0
074 R021600 0
074 R031600 0
074 R041600 192
074 S001600 0
074 T001600 379755
074 U011600 34198
074 U021600 0
074 V011600 11.10
074 V021600 0.00
074 W001600 0.0000
074 X001600 3
074 Y001600 0
075 A001600 0
075 B001600 343842
076 001600 0.00
008 A001701 FRANKLIN ADVISERS, INC.
008 B001701 A
008 C001701 801-26292
008 D011701 SAN MATEO
008 D021701 CA
008 D031701 94403
008 D041701 7777
008 A001702 TEMPLETON INVESTMENT COUNSEL, INC.
008 B001702 S
008 C001702 801-15125
008 D011702 FT LAUDERDALE
008 D021702 FL
008 D031702 33394
008 D041702 3091
015 A001701 BANK OF AMERICA NT & SA
015 B001701 C
015 C011701 SAN FRANCISCO
015 C021701 CA
015 C031701 94104
015 C041701 1502
015 E011701 X
015 A001702 CITIBANK, N.A.
015 B001702 S
015 C011702 BUENOS AIRES
015 D011702 ARGENTINA
015 E041702 X
015 A001703 NATIONAL AUSTRALIA BANK LTD.
015 B001703 S
015 C011703 MELBOURNE
015 D011703 AUSTRALIA
015 E041703 X
015 A001704 CREDITANSTALT-BANKVEREIN
015 B001704 S
015 C011704 VIENNA
015 D011704 AUSTRIA
<PAGE> PAGE 141
015 E041704 X
015 A001705 STANDARD CHARTERED BANK
015 B001705 S
015 C011705 DHAKA
015 D011705 BANGLADESH
015 E041705 X
015 A001706 BANQUE BRUSSELS LAMBERT
015 B001706 S
015 C011706 BRUSSELS
015 D011706 BELGIUM
015 E041706 X
015 A001707 THE BANK OF N.T. BUTTERFIELD & SON LIMITED
015 B001707 S
015 C011707 HAMILTON
015 D011707 BERMUDA
015 E041707 X
015 A001708 CITIBANK, N.A
015 B001708 S
015 C011708 SAO PAULO
015 D011708 BRAZIL
015 E041708 X
015 A001709 THE CANADA TRUST COMPANY
015 B001709 S
015 C011709 TORONTO
015 D011709 CANADA
015 E041709 X
015 A001710 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001710 S
015 C011710 SHANGHAI
015 D011710 CHINA
015 E041710 X
015 A001711 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001711 S
015 C011711 SHENZHEN
015 D011711 CHINA
015 E041711 X
015 A001712 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B001712 S
015 C011712 SANTA FE DE BOGOTA
015 D011712 COLOMBIA
015 E041712 X
015 A001713 UNIBANK
015 B001713 S
015 C011713 COPENHAGEN
015 D011713 DENMARK
015 E041713 X
015 A001714 KANSALLIS-OSAKE-PANKKI
015 B001714 S
015 C011714 HELSINKI
015 D011714 FINLAND
015 E041714 X
<PAGE> PAGE 142
015 A001715 SOCIETE GENERALE
015 B001715 S
015 C011715 PARIS
015 D011715 FRANCE
015 E041715 X
015 A001716 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
015 B001716 S
015 C011716 FRANKFURT
015 D011716 GERMANY
015 E041716 X
015 A001717 BARCLAYS BANK PLC
015 B001717 S
015 C011717 ATHENS
015 D011717 GREECE
015 E041717 X
015 A001718 BARCLAYS BANK PLC
015 B001718 S
015 C011718 HONG KONG
015 D011718 HONG KONG
015 E041718 X
015 A001719 CITIBANK, N.A.
015 B001719 S
015 C011719 BUDAPEST
015 D011719 HUNGARY
015 E041719 X
015 A001720 STANDARD CHARTERED BANK
015 B001720 S
015 C011720 FORT BOMBAY
015 D011720 INDIA
015 E041720 X
015 A001721 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001721 S
015 C011721 JAKARTA
015 D011721 INDONESIA
015 E041721 X
015 A001722 BANK OF IRELAND
015 B001722 S
015 C011722 DUBLIN
015 D011722 IRELAND
015 E041722 X
015 A001723 BANK LEUMI LE-ISRAEL, B.M.
015 B001723 S
015 C011723 TEL AVIV
015 D011723 ISRAEL
015 E041723 X
015 A001724 CITIBANK, N.A.
015 B001724 S
015 C011724 MILAN
015 D011724 ITALY
015 E041724 X
015 A001725 BARCLAYS TRUST & BANKING CO (JAPAN) LIMITED
<PAGE> PAGE 143
015 B001725 S
015 C011725 TOKYO
015 D011725 JAPAN
015 E041725 X
015 A001726 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001726 S
015 C011726 SEOUL
015 D011726 KOREA
015 E041726 X
015 A001727 CEDEL S.A. (DEPOSITORY)
015 B001727 S
015 C011727 LUXEMBOURG CITY
015 D011727 LUXEMBOURG
015 E041727 X
015 A001728 UNITED MALAYAN BANKING CORPORATION BERHAD
015 B001728 S
015 C011728 KUALA LUMPUR
015 D011728 MALAYSIA
015 E041728 X
015 A001729 BANCO NACIONAL DE MEXICO
015 B001729 S
015 C011729 MEXICO, D.F.
015 D011729 MEXICO
015 E041729 X
015 A001730 KAS-ASSOCIATIE N.V.
015 B001730 S
015 C011730 AMSTERDAM
015 D011730 NETHERLANDS
015 E041730 X
015 A001731 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B001731 S
015 C011731 WELLINGTON
015 D011731 NEW ZEALAND
015 E041731 X
015 A001732 CHRISTIANIA BANK OG KREDITKASSE
015 B001732 S
015 C011732 BERGEN
015 D011732 NORWAY
015 E041732 X
015 A001733 STANDARD CHARTERED BANK
015 B001733 S
015 C011733 KARACHI
015 D011733 PAKISTAN
015 E041733 X
015 A001734 BANCO DE CREDITO DEL PERU
015 B001734 S
015 C011734 LIMA
015 D011734 PERU
015 E041734 X
015 A001735 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001735 S
<PAGE> PAGE 144
015 C011735 MANILA
015 D011735 PHILIPPINES
015 E041735 X
015 A001736 CITIBANK, N.A.
015 B001736 S
015 C011736 WARSAW
015 D011736 POLAND
015 E041736 X
015 A001737 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B001737 S
015 C011737 LISBON
015 D011737 PORTUGAL
015 E041737 X
015 A001738 BARCLAYS BANK PLC
015 B001738 S
015 C011738 SINGAPORE
015 D011738 SINGAPORE
015 E041738 X
015 A001739 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B001739 S
015 C011739 JOHANNESBURG
015 D011739 SOUTH AFRICA
015 E041739 X
015 A001740 BANCO DE SANTANDER
015 B001740 S
015 C011740 MADRID
015 D011740 SPAIN
015 E041740 X
015 A001741 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001741 S
015 C011741 COLOMBO
015 D011741 SRI LANKA
015 E041741 X
015 A001742 SKANDINAVISKA ENSKILDA BANKEN
015 B001742 S
015 C011742 STOCKHOLM
015 D011742 SWEDEN
015 E041742 X
015 A001743 SWISS BANK CORPORATION
015 B001743 S
015 C011743 ZURICH
015 D011743 SWITZERLAND
015 E041743 X
015 A001744 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001744 S
015 C011744 TAIPEI
015 D011744 TAIWAN (ROC)
015 E041744 X
015 A001745 BANGKOK BANK LIMITED
015 B001745 S
015 C011745 BANGKOK
<PAGE> PAGE 145
015 D011745 THAILAND
015 E041745 X
015 A001746 YAPI VE KREDI BANKASI A.S.
015 B001746 S
015 C011746 ISTANBUL
015 D011746 TURKEY
015 E041746 X
015 A001747 BANK OF AMERICA FOREIGN DIVISION - LONDON
015 B001747 S
015 C011747 LONDON
015 D011747 UNITED KINGDOM
015 E041747 X
015 A001748 CITIBANK, N.A.
015 B001748 S
015 C011748 CARACAS
015 D011748 VENEZUELA
015 E041748 X
015 A001749 BERLINER HANDELS-UND FRANKFURTER BANK
015 B001749 S
015 C011749 FRANKFURT
015 D011749 GERMANY
015 E041749 X
015 A001750 THE CHASE MANHATTAN BANK, N.A.
015 B001750 S
015 C011750 BUENOS AIRES
015 D011750 ARGENTINA
015 E041750 X
015 A001751 THE CHASE MANHATTAN BANK AUSTRALIA LIMITED
015 B001751 S
015 C011751 SYDNEY
015 D011751 AUSTRALIA
015 E041751 X
015 A001752 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B001752 S
015 C011752 BOGOTA
015 D011752 COLOMBIA
015 E041752 X
015 A001753 GENERALE BANK
015 B001753 S
015 C011753 BRUSSELS
015 D011753 BELGIUM
015 E041753 X
015 A001754 BARCLAYS BANK OF BOTSWANA LIMITED
015 B001754 S
015 C011754 GABORONE
015 D011754 BOTSWANA
015 E041754 X
015 A001755 BANCO CHASE MANHATTAN, S.A.
015 B001755 S
015 C011755 SAO PAULO
015 D011755 BRAZIL
<PAGE> PAGE 146
015 E041755 X
015 A001756 ROYAL BANK OF CANADA
015 B001756 S
015 C011756 TORONTO
015 D011756 CANADA
015 E041756 X
015 A001757 THE CHASE MANHATTAN BANK, N.A.
015 B001757 S
015 C011757 SANTIAGO
015 D011757 CHILE
015 E041757 X
015 A001758 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001758 S
015 C011758 PRAGUE
015 D011758 CZECH REPUBLIC
015 E041758 X
015 A001759 DEN DANSKE BANK
015 B001759 S
015 C011759 COPENHAGEN
015 D011759 DENMARK
015 E041759 X
015 A001760 NATIONAL BANK OF EGYPT
015 B001760 S
015 C011760 CAIRO
015 D011760 EGYPT
015 E041760 X
015 A001761 BANQUE PARIBAS
015 B001761 S
015 C011761 PARIS
015 D011761 FRANCE
015 E041761 X
015 A001762 CHASE BANK, A.G.
015 B001762 S
015 C011762 FRANKFURT
015 D011762 GERMANY
015 E041762 X
015 A001763 BARCLAYS BANK OF GHANA LTD.
015 B001763 S
015 C011763 ACCRA
015 D011763 GHANA
015 E041763 X
015 A001764 BANCO NACIONAL DE MEXICO
015 B001764 S
015 C011764 MEXICO CITY
015 D011764 MEXICO
015 E041764 X
015 A001765 THE CHASE MANHATTAN BANK, N.A.
015 B001765 S
015 C011765 HONG KONG
015 D011765 HONG KONG
015 E041765 X
<PAGE> PAGE 147
015 A001766 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001766 S
015 C011766 BOMBAY
015 D011766 INDIA
015 E041766 X
015 A001767 DEUTSCHE BANK, A.G.
015 B001767 S
015 C011767 BOMBAY
015 D011767 INDIA
015 E041767 X
015 A001768 THE CHASE MANHATTAN BANK, N.A.
015 B001768 S
015 C011768 MILAN
015 D011768 ITALY
015 E041768 X
015 A001769 THE CHASE MANHATTAN BANK, N.A.
015 B001769 S
015 C011769 TOKYO
015 D011769 JAPAN
015 E041769 X
015 A001770 ARAB BANK, PLC
015 B001770 S
015 C011770 AMMAN
015 D011770 JORDAN
015 E041770 X
015 A001771 THE CHASE MANHATTAN BANK, N.A.
015 B001771 S
015 C011771 KUALA LUMPUR
015 D011771 MALAYSIA
015 E041771 X
015 A001772 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001772 S
015 C011772 PORT LOUIS
015 D011772 MAURITIUS
015 E041772 X
015 A001773 THE CHASE MANHATTAN BANK, N.A.
015 B001773 S
015 C011773 MEXICO, D.F.
015 D011773 MEXICO
015 E041773 X
015 A001774 BANQUE COMMERCIALE DU MAROC
015 B001774 S
015 C011774 CASABLANCA
015 D011774 MOROCCO
015 E041774 X
015 A001775 ABN-AMRO BANK N.V.
015 B001775 S
015 C011775 AMSTERDAM
015 D011775 NETHERLANDS
015 E041775 X
015 A001776 NATIONAL NOMINEES LIMITED
<PAGE> PAGE 148
015 B001776 S
015 C011776 AUCKLAND
015 D011776 NEW ZEALAND
015 E041776 X
015 A001777 DEN NORSKE BANK
015 B001777 S
015 C011777 OSLO
015 D011777 NORWAY
015 E041777 X
015 A001778 CITIBANK, N.A.
015 B001778 S
015 C011778 KARACHI
015 D011778 PAKISTAN
015 E041778 X
015 A001779 DEUTSCHE BANK, A.G.
015 B001779 S
015 C011779 KARACHI
015 D011779 PAKISTAN
015 E041779 X
015 A001780 CITIBANK, N.A.
015 B001780 S
015 C011780 LIMA
015 D011780 PERU
015 E041780 X
015 A001781 BANK HANDLOWY W. WARZAWIE, S.A.
015 B001781 S
015 C011781 WARSAW
015 D011781 POLAND
015 E041781 X
015 A001782 THE CHASE MANHATTAN BANK, N.A.
015 B001782 S
015 C011782 SINGAPORE
015 D011782 SINGAPORE
015 E041782 X
015 A001783 THE CHASE MANHATTAN BANK, N.A.
015 B001783 S
015 C011783 MADRID
015 D011783 SPAIN
015 E041783 X
015 A001784 BANQUE BRUXELLES LAMBERT
015 B001784 S
015 C011784 MADRID
015 D011784 SPAIN
015 E041784 X
015 A001785 UNION BANK OF SWITZERLAND
015 B001785 S
015 C011785 ZURICH
015 D011785 SWITZERLAND
015 E041785 X
015 A001786 THE CHASE MANHATTAN BANK, N.A.
015 B001786 S
<PAGE> PAGE 149
015 C011786 TAIPEI
015 D011786 TAIWAN (ROC)
015 E041786 X
015 A001787 THE CHASE MANHATTAN BANK, N.A.
015 B001787 S
015 C011787 BANGKOK
015 D011787 THAILAND
015 E041787 X
015 A001788 TAKAS VE SAKLAMA A.S. (TVS) (DEPOSITORY)
015 B001788 S
015 C011788 ISTANBUL
015 D011788 TURKEY
015 E041788 X
015 A001789 THE CHASE MANHATTAN BANK, N.A.
015 B001789 S
015 C011789 LONDON
015 D011789 UNITED KINGDOM
015 E041789 X
015 A001790 FIRST NATIONAL BANK OF CHICAGO
015 B001790 S
015 C011790 LONDON
015 D011790 UNITED KINGDOM
015 E041790 X
015 A001791 THE FIRST NATIONAL BANK OF BOSTON
015 B001791 S
015 C011791 MONTEVIDEO
015 D011791 URUGUAY
015 E041791 X
015 A001792 BARCLAYS BANK PLC
015 B001792 S
015 C011792 HARARE
015 D011792 ZIMBABWE
015 E041792 X
015 A001793 CITIBANK BUDAPEST RT.
015 B001793 S
015 C011793 BUDAPEST
015 D011793 HUNGARY
015 E041793 X
015 A001794 THE CHASE MANHATTAN BANK, N.A.
015 B001794 C
015 C011794 NEW YORK
015 C021794 NY
015 C031794 10081
015 E011794 X
028 A011700 7317
028 A021700 0
028 A031700 0
028 A041700 17481
028 B011700 15673
028 B021700 0
028 B031700 0
<PAGE> PAGE 150
028 B041700 17549
028 C011700 13885
028 C021700 0
028 C031700 0
028 C041700 17892
028 D011700 8115
028 D021700 0
028 D031700 0
028 D041700 10733
028 E011700 11578
028 E021700 0
028 E031700 0
028 E041700 12969
028 F011700 12600
028 F021700 9378
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028 F041700 28315
028 G011700 69168
028 G021700 9378
028 G031700 0
028 G041700 104939
028 H001700 0
045 001700 Y
046 001700 N
047 001700 Y
048 001700 0.000
048 A011700 100000
048 A021700 1.000
048 B011700 150000
048 B021700 0.900
048 C011700 250000
048 C021700 0.800
048 D011700 0
048 D021700 0.000
048 E011700 0
048 E021700 0.000
048 F011700 0
048 F021700 0.000
048 G011700 0
048 G021700 0.000
048 H011700 0
048 H021700 0.000
048 I011700 0
048 I021700 0.000
048 J011700 0
048 J021700 0.000
048 K011700 500000
048 K021700 0.750
049 001700 N
050 001700 N
051 001700 N
<PAGE> PAGE 151
052 001700 N
053 A001700 N
055 A001700 N
055 B001700 N
056 001700 N
057 001700 N
062 A001700 N
062 B001700 0.0
062 C001700 0.0
062 D001700 0.0
062 E001700 0.0
062 F001700 0.0
062 G001700 0.0
062 H001700 0.0
062 I001700 0.0
062 J001700 0.0
062 K001700 0.0
062 L001700 0.0
062 M001700 0.0
062 N001700 0.0
062 O001700 0.0
062 P001700 0.0
062 Q001700 0.0
062 R001700 0.0
063 A001700 0
063 B001700 0.0
066 A001700 Y
066 B001700 N
066 C001700 N
066 D001700 Y
066 E001700 N
066 F001700 N
066 G001700 N
067 001700 N
068 A001700 N
068 B001700 Y
069 001700 N
070 A011700 Y
070 A021700 Y
070 B011700 Y
070 B021700 N
070 C011700 Y
070 C021700 N
070 D011700 Y
070 D021700 N
070 E011700 Y
070 E021700 N
070 F011700 Y
070 F021700 N
070 G011700 Y
070 G021700 N
<PAGE> PAGE 152
070 H011700 Y
070 H021700 N
070 I011700 N
070 I021700 N
070 J011700 Y
070 J021700 N
070 K011700 Y
070 K021700 N
070 L011700 Y
070 L021700 Y
070 M011700 Y
070 M021700 Y
070 N011700 Y
070 N021700 N
070 O011700 N
070 O021700 N
070 P011700 Y
070 P021700 N
070 Q011700 N
070 Q021700 N
070 R011700 N
070 R021700 N
071 A001700 64977
071 B001700 77087
071 C001700 314650
071 D001700 21
072 A001700 6
072 B001700 1182
072 C001700 4847
072 D001700 0
072 E001700 0
072 F001700 1602
072 G001700 0
072 H001700 0
072 I001700 0
072 J001700 218
072 K001700 7
072 L001700 12
072 M001700 2
072 N001700 0
072 O001700 0
072 P001700 0
072 Q001700 0
072 R001700 5
072 S001700 1
072 T001700 0
072 U001700 0
072 V001700 0
072 W001700 16
072 X001700 1863
072 Y001700 0
<PAGE> PAGE 153
072 Z001700 4166
072AA001700 12274
072BB001700 9019
072CC011700 564
072CC021700 0
072DD011700 6625
072DD021700 0
072EE001700 2753
073 A011700 0.2578
073 A021700 0.0000
073 B001700 0.1072
073 C001700 0.0000
074 A001700 7
074 B001700 41773
074 C001700 0
074 D001700 1241
074 E001700 0
074 F001700 302339
074 G001700 0
074 H001700 0
074 I001700 0
074 J001700 873
074 K001700 0
074 L001700 2697
074 M001700 3341
074 N001700 352271
074 O001700 359
074 P001700 268
074 Q001700 0
074 R011700 0
074 R021700 0
074 R031700 0
074 R041700 3598
074 S001700 0
074 T001700 348046
074 U011700 26392
074 U021700 0
074 V011700 13.19
074 V021700 0.00
074 W001700 0.0000
074 X001700 3
074 Y001700 0
075 A001700 0
075 B001700 356994
076 001700 0.00
008 A001801 FRANKLIN ADVISERS, INC.
008 B001801 A
008 C001801 801-26292
008 D011801 SAN MATEO
008 D021801 CA
008 D031801 94403
<PAGE> PAGE 154
008 D041801 7777
008 A001802 TEMPLETON INVESTMENT COUNSEL, INC.
008 B001802 S
008 C001802 801-15125
008 D011802 FT. LAUDERDALE
008 D021802 FL
008 D031802 33394
008 D041802 3091
015 A001801 BANK OF AMERICA NT & SA
015 B001801 C
015 C011801 SAN FRANCISCO
015 C021801 CA
015 C031801 94104
015 C041801 1502
015 E011801 X
015 A001802 BANQUE BRUXELLES LAMBERT
015 B001802 S
015 C011802 MADRID
015 D011802 SPAIN
015 E041802 X
015 A001803 CITIBANK,N.A.
015 B001803 S
015 C011803 BUENOS AIRES
015 D011803 ARGENTINA
015 E041803 X
015 A001804 NATIONAL AUSTRALIA BANK LTD.
015 B001804 S
015 C011804 MELBOURNE
015 D011804 AUSTRALIA
015 E041804 X
015 A001805 CREDITANSTALT-BANKVEREIN
015 B001805 S
015 C011805 VIENNA
015 D011805 AUSTRIA
015 E041805 X
015 A001806 STANDARD CHARTERED BANK
015 B001806 S
015 C011806 DHAKA
015 D011806 BANGLADESH
015 E041806 X
015 A001807 BANQUE BRUSSELS LAMBERT
015 B001807 S
015 C011807 BRUSSELS
015 D011807 BELGIUM
015 E041807 X
015 A001808 THE BANK OF N.T. BUTTERFIELD & SON LIMITED
015 B001808 S
015 C011808 HAMILTON
015 D011808 BERMUDA
015 E041808 X
015 A001809 CITIBANK, N.A.
<PAGE> PAGE 155
015 B001809 S
015 C011809 SAO PAULO
015 D011809 BRAZIL
015 E041809 X
015 A001810 THE CANADA TRUST COMPANY
015 B001810 S
015 C011810 TORONTO
015 D011810 CANADA
015 E041810 X
015 A001811 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001811 S
015 C011811 SHANGHAI
015 D011811 CHINA
015 E041811 X
015 A001812 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001812 S
015 C011812 SHENZHEN
015 D011812 CHINA
015 E041812 X
015 A001813 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B001813 S
015 C011813 BOGOTA
015 D011813 COLOMBIA
015 E041813 X
015 A001814 UNIBANK
015 B001814 S
015 C011814 COPENHAGEN
015 D011814 DENMARK
015 E041814 X
015 A001816 SOCIETE GENERALE
015 B001816 S
015 C011816 PARIS
015 D011816 FRANCE
015 E041816 X
015 A001817 BERLINER HANDELS-UND FRANKFURTER BANK
015 B001817 S
015 C011817 FRANKFURT
015 D011817 GERMANY
015 E041817 X
015 A001818 BARCLAYS BANK PLC
015 B001818 S
015 C011818 ATHENS
015 D011818 GREECE
015 E041818 X
015 A001819 BARCLAYS BANK PLC
015 B001819 S
015 C011819 HONG KONG
015 D011819 HONG KONG
015 E041819 X
015 A001820 CITIBANK, N.A.
015 B001820 S
<PAGE> PAGE 156
015 C011820 BUDAPEST
015 D011820 HUNGARY
015 E041820 X
015 A001821 STANDARD CHARTERED BANK
015 B001821 S
015 C011821 FORT BOMBAY
015 D011821 INDIA
015 E041821 X
015 A001822 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001822 S
015 C011822 JAKARTA
015 D011822 INDONESIA
015 E041822 X
015 A001823 BANK OF IRELAND
015 B001823 S
015 C011823 DUBLIN
015 D011823 IRELAND
015 E041823 X
015 A001824 BANK LEUMI LE-ISRAEL, B.M.
015 B001824 S
015 C011824 TEL AVIV
015 D011824 ISRAEL
015 E041824 X
015 A001825 CITIBANK, N.A.
015 B001825 S
015 C011825 MILAN
015 D011825 ITALY
015 E041825 X
015 A001826 BARCLAYS TRUST & BANKING COMPANY (JAPAN) LTD.
015 B001826 S
015 C011826 TOKYO
015 D011826 JAPAN
015 E041826 X
015 A001827 THE HONGKONG AND SHANGHAI BANKING CORP
015 B001827 S
015 C011827 SEOUL
015 D011827 KOREA
015 E041827 X
015 A001828 CEDEL S.A. (DEPOSITORY)
015 B001828 S
015 C011828 LUXEMBOURG CITY
015 D011828 LUXEMBOURG
015 E041828 X
015 A001829 UNITED MALAYAN BANKING CORPORATION BERHAD
015 B001829 S
015 C011829 KUALA LUMPUR
015 D011829 MALAYSIA
015 E041829 X
015 A001830 BANCO NACIONAL DE MEXICO
015 B001830 S
015 C011830 MEXICO CITY
<PAGE> PAGE 157
015 D011830 MEXICO
015 E041830 X
015 A001831 KAS-ASSOCIATIE N.V.
015 B001831 S
015 C011831 AMSTERDAM
015 D011831 NETHERLANDS
015 E041831 X
015 A001832 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B001832 S
015 C011832 WELLINGTON
015 D011832 NEW ZEALAND
015 E041832 X
015 A001833 CHRISTIANIA BANK OG KREDITKASSE
015 B001833 S
015 C011833 BERGEN
015 D011833 NORWAY
015 E041833 X
015 A001834 STANDARD CHARTERED BANK
015 B001834 S
015 C011834 KARACHI
015 D011834 PAKISTAN
015 E041834 X
015 A001835 BANCO DE CREDITO DEL PERU
015 B001835 S
015 C011835 LIMA
015 D011835 PERU
015 E041835 X
015 A001836 THE HONGKONG AND SHANGHAI BANKING CORP
015 B001836 S
015 C011836 MANILA
015 D011836 PHILIPPINES
015 E041836 X
015 A001837 CITIBANK, N.A.
015 B001837 S
015 C011837 WARSAW
015 D011837 POLAND
015 E041837 X
015 A001838 BANCO ESPIRITO SANTO E COMERICAL DE LISBOA
015 B001838 S
015 C011838 LISBON
015 D011838 PORTUGAL
015 E041838 X
015 A001839 BARCLAYS BANK PLC
015 B001839 S
015 C011839 SINGAPORE
015 D011839 SINGAPORE
015 E041839 X
015 A001840 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B001840 S
015 C011840 JOHANNESBURG
015 D011840 SOUTH AFRICA
<PAGE> PAGE 158
015 E041840 X
015 A001841 BANCO DE SANTANDER
015 B001841 S
015 C011841 MADRID
015 D011841 SPAIN
015 E041841 X
015 A001842 THE HONGKONG AND SHANGHAI BANKING CORP LTD.
015 B001842 S
015 C011842 COLOMBO
015 D011842 SRI LANKA
015 E041842 X
015 A001843 SKANDINAVISKA ENSKILDA BANKEN
015 B001843 S
015 C011843 STOCKHOLM
015 D011843 SWEDEN
015 E041843 X
015 A001844 SWISS BANK CORPORATION
015 B001844 S
015 C011844 ZURICH
015 D011844 SWITZERLAND
015 E041844 X
015 A001845 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001845 S
015 C011845 TAIPEI
015 D011845 TAIWAN (ROC)
015 E041845 X
015 A001846 BANGKOK BANK LIMITED
015 B001846 S
015 C011846 BANGKOK
015 D011846 THAILAND
015 E041846 X
015 A001847 YAPI VE KREDI BANKASI A.S.
015 B001847 S
015 C011847 ISTANBUL
015 D011847 TURKEY
015 E041847 X
015 A001848 BANK OF AMERICA FOREIGN DIVISION - LONDON
015 B001848 S
015 C011848 LONDON
015 D011848 UNITED KINGDOM
015 E041848 X
015 A001849 CITIBANK, N.A.
015 B001849 S
015 C011849 CARACAS
015 D011849 VENEZUELA
015 E041849 X
015 A001850 THE CHASE MANHATTAN BANK, N.A.
015 B001850 S
015 C011850 BUENOS AIRES
015 D011850 ARGENTINA
015 E041850 X
<PAGE> PAGE 159
015 A001851 THE CHASE MANHATTAN BANK AUSTRALIA LTD
015 B001851 S
015 C011851 SYDNEY
015 D011851 AUSTRALIA
015 E041851 X
015 A001852 GENERALE BANK
015 B001852 S
015 C011852 BRUSSELS
015 D011852 BELGIUM
015 E041852 X
015 A001853 BARCLAYS BANK OF BOTSWANA LIMITED
015 B001853 S
015 C011853 GABORONE
015 D011853 BOTSWANA
015 E041853 X
015 A001854 BANCO CHASE MANHATTAN, S.A.
015 B001854 S
015 C011854 SAO PAULO
015 D011854 BRAZIL
015 E041854 X
015 A001855 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
015 B001855 S
015 C011855 FRANKFURT
015 D011855 GERMANY
015 E041855 X
015 A001857 ROYAL BANK OF CANADA
015 B001857 S
015 C011857 TORONTO
015 D011857 CANADA
015 E041857 X
015 A001858 THE CHASE MANHATTAN BANK, N.A.
015 B001858 S
015 C011858 SANTIAGO
015 D011858 CHILE
015 E041858 X
015 A001859 UNION BANK OF SWITZERLAND
015 B001859 S
015 C011859 ZURICH
015 D011859 SWITZERLAND
015 E041859 X
015 A001860 THE CHASE MANHATTAN BANK, N.A.
015 B001860 S
015 C011860 TAIPEI
015 D011860 TAIWAN (ROC)
015 E041860 X
015 A001861 THE CHASE MANHATTAN BANK, N.A.
015 B001861 S
015 C011861 BANGKOK
015 D011861 THAILAND
015 E041861 X
015 A001862 TAKAS VE SAKLAMA A.S. (TVS) (DEPOSITORY)
<PAGE> PAGE 160
015 B001862 S
015 C011862 ISTANBUL
015 D011862 TURKEY
015 E041862 X
015 A001863 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001863 S
015 C011863 PRAGUE
015 D011863 CZECH REPUBLIC
015 E041863 X
015 A001864 DEN DANSKE BANK
015 B001864 S
015 C011864 COPENHAGEN
015 D011864 DENMARK
015 E041864 X
015 A001865 NATIONAL BANK OF EGYPT
015 B001865 S
015 C011865 CAIRO
015 D011865 EGYPT
015 E041865 X
015 A001866 KANSALLIS-OSAKE-PANKKI
015 B001866 S
015 C011866 HELSINKI
015 D011866 FINLAND
015 E041866 X
015 A001867 BANQUE PARIBAS
015 B001867 S
015 C011867 PARIS
015 D011867 FRANCE
015 E041867 X
015 A001868 CHASE BANK, A.G.
015 B001868 S
015 C011868 FRANKFURT
015 D011868 GERMANY
015 E041868 X
015 A001869 BARCLAYS BANK OF GHANA LTD.
015 B001869 S
015 C011869 ACCRA
015 D011869 GHANA
015 E041869 X
015 A001870 THE CHASE MANHATTAN BANK, N.A.
015 B001870 S
015 C011870 LONDON
015 D011870 UNITED KINGDOM
015 E041870 X
015 A001871 THE CHASE MANHATTAN BANK, N.A.
015 B001871 S
015 C011871 HONG KONG
015 D011871 HONG KONG
015 E041871 X
015 A001872 CITIBANK BUDAPEST RT.
015 B001872 S
<PAGE> PAGE 161
015 C011872 BUDAPEST
015 D011872 HUNGARY
015 E041872 X
015 A001873 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001873 S
015 C011873 BOMBAY
015 D011873 INDIA
015 E041873 X
015 A001874 DEUTSCHE BANK, A.G.
015 B001874 S
015 C011874 BOMBAY
015 D011874 INDIA
015 E041874 X
015 A001875 FIRST NATIONAL BANK OF CHICAGO
015 B001875 S
015 C011875 LONDON
015 D011875 UNITED KINGDOM
015 E041875 X
015 A001876 THE FIRST NATIONAL BANK OF BOSTON
015 B001876 S
015 C011876 MONTEVIDEO
015 D011876 URUGUAY
015 E041876 X
015 A001877 BARCLAYS BANK PLC
015 B001877 S
015 C011877 HARARE
015 D011877 ZIMBABWE
015 E041877 X
015 A001878 THE CHASE MANHATTAN BANK, N.A.
015 B001878 S
015 C011878 MILAN
015 D011878 ITALY
015 E041878 X
015 A001879 THE CHASE MANHATTAN BANK, N.A.
015 B001879 S
015 C011879 TOKYO
015 D011879 JAPAN
015 E041879 X
015 A001880 ARAB BANK, PLC
015 B001880 S
015 C011880 AMMAN
015 D011880 JORDAN
015 E041880 X
015 A001881 THE CHASE MANHATTAN BANK, N.A.
015 B001881 S
015 C011881 KUALA LUMPUR
015 D011881 MALAYSIA
015 E041881 X
015 A001882 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001882 S
015 C011882 PORT LOUIS
<PAGE> PAGE 162
015 D011882 MAURITIUS
015 E041882 X
015 A001883 THE CHASE MANHATTAN BANK, N.A.
015 B001883 S
015 C011883 MEXICO, D.F.
015 D011883 MEXICO
015 E041883 X
015 A001884 DELETE
015 A001885 ABN-AMRO BANK N.V.
015 B001885 S
015 C011885 AMSTERDAM
015 D011885 NETHERLANDS
015 E041885 X
015 A001886 NATIONAL NOMINEES LIMITED
015 B001886 S
015 C011886 AUCKLAND
015 D011886 NEW ZEALAND
015 E041886 X
015 A001887 DEN NORSKE BANK
015 B001887 S
015 C011887 OSLO
015 D011887 NORWAY
015 E041887 X
015 A001888 CITIBANK, N.A.
015 B001888 S
015 C011888 KARACHI
015 D011888 PAKISTAN
015 E041888 X
015 A001889 DEUTSCHE BANK, A.G.
015 B001889 S
015 C011889 KARACHI
015 D011889 PAKISTAN
015 E041889 X
015 A001890 CITIBANK, N.A.
015 B001890 S
015 C011890 LIMA
015 D011890 PERU
015 E041890 X
015 A001891 BANK HANDLOWY W. WARZAWIE, S.A.
015 B001891 S
015 C011891 WARSAW
015 D011891 POLAND
015 E041891 X
015 A001892 THE CHASE MANHATTAN BANK, N.A.
015 B001892 S
015 C011892 SINGAPORE
015 D011892 SINGAPORE
015 E041892 X
015 A001893 THE CHASE MANHATTAN BANK, N.A.
015 B001893 S
015 C011893 MADRID
<PAGE> PAGE 163
015 D011893 SPAIN
015 E041893 X
015 A001894 BANQUE COMERCIALE DU MAROC
015 B001894 S
015 C011894 CASABLANCA
015 D011894 MOROCCO
015 E041894 X
015 A001895 THE CHASE MANHATTAN BANK, N.A.
015 B001895 C
015 C011895 NEW YORK
015 C021895 NY
015 C031895 10081
015 E011895 X
015 A001896 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B001896 S
015 C011896 SANTAFE DE BOGOTA
015 D011896 COLOMBIA
015 E041896 X
015 A001897 BANCO NACIONAL DE MEXICO
015 B001897 S
015 C011897 MEXICO, D.F.
015 D011897 MEXICO
015 E041897 X
028 A011800 15039
028 A021800 0
028 A031800 0
028 A041800 27199
028 B011800 15114
028 B021800 0
028 B031800 0
028 B041800 18800
028 C011800 16234
028 C021800 0
028 C031800 0
028 C041800 21454
028 D011800 11688
028 D021800 0
028 D031800 0
028 D041800 10381
028 E011800 16224
028 E021800 0
028 E031800 0
028 E041800 14493
028 F011800 12818
028 F021800 30526
028 F031800 0
028 F041800 16848
028 G011800 87117
028 G021800 30526
028 G031800 0
028 G041800 109175
<PAGE> PAGE 164
028 H001800 0
045 001800 Y
046 001800 N
047 001800 Y
048 001800 0.000
048 A011800 100000
048 A021800 1.000
048 B011800 150000
048 B021800 0.900
048 C011800 250000
048 C021800 0.800
048 D011800 0
048 D021800 0.000
048 E011800 0
048 E021800 0.000
048 F011800 0
048 F021800 0.000
048 G011800 0
048 G021800 0.000
048 H011800 0
048 H021800 0.000
048 I011800 0
048 I021800 0.000
048 J011800 0
048 J021800 0.000
048 K011800 500000
048 K021800 0.750
049 001800 N
050 001800 N
051 001800 N
052 001800 N
053 A001800 N
055 A001800 N
055 B001800 N
056 001800 N
057 001800 N
062 A001800 N
062 B001800 0.0
062 C001800 0.0
062 D001800 0.0
062 E001800 0.0
062 F001800 0.0
062 G001800 0.0
062 H001800 0.0
062 I001800 0.0
062 J001800 0.0
062 K001800 0.0
062 L001800 0.0
062 M001800 0.0
062 N001800 0.0
062 O001800 0.0
<PAGE> PAGE 165
062 P001800 0.0
062 Q001800 0.0
062 R001800 0.0
066 A001800 Y
066 B001800 N
066 C001800 Y
066 D001800 N
066 E001800 N
066 F001800 N
066 G001800 N
067 001800 N
068 A001800 N
068 B001800 Y
069 001800 N
070 A011800 Y
070 A021800 Y
070 B011800 Y
070 B021800 N
070 C011800 Y
070 C021800 N
070 D011800 Y
070 D021800 N
070 E011800 Y
070 E021800 N
070 F011800 Y
070 F021800 N
070 G011800 Y
070 G021800 N
070 H011800 Y
070 H021800 N
070 I011800 N
070 I021800 N
070 J011800 Y
070 J021800 N
070 K011800 Y
070 K021800 N
070 L011800 Y
070 L021800 Y
070 M011800 Y
070 M021800 Y
070 N011800 Y
070 N021800 N
070 O011800 N
070 O021800 N
070 P011800 Y
070 P021800 N
070 Q011800 N
070 Q021800 N
070 R011800 N
070 R021800 N
071 A001800 105033
<PAGE> PAGE 166
071 B001800 73789
071 C001800 397401
071 D001800 10
072 A001800 6
072 B001800 4300
072 C001800 13925
072 D001800 0
072 E001800 0
072 F001800 3227
072 G001800 0
072 H001800 0
072 I001800 0
072 J001800 364
072 K001800 16
072 L001800 20
072 M001800 3
072 N001800 15
072 O001800 0
072 P001800 0
072 Q001800 0
072 R001800 9
072 S001800 2
072 T001800 0
072 U001800 0
072 V001800 0
072 W001800 3
072 X001800 3659
072 Y001800 0
072 Z001800 14566
072AA001800 20808
072BB001800 355
072CC011800 23541
072CC021800 0
072DD011800 13634
072DD021800 0
072EE001800 16891
073 A011800 0.2230
073 A021800 0.0000
073 B001800 0.2763
073 C001800 0.0000
074 A001800 0
074 B001800 46339
074 C001800 55257
074 D001800 54344
074 E001800 93
074 F001800 648736
074 G001800 0
074 H001800 0
074 I001800 0
074 J001800 6628
074 K001800 0
<PAGE> PAGE 167
074 L001800 6996
074 M001800 6995
074 N001800 825388
074 O001800 375
074 P001800 561
074 Q001800 X
074 R011800 0
074 R021800 0
074 R031800 0
074 R041800 2662
074 S001800 0
074 T001800 821790
074 U011800 63342
074 U021800 0
074 V011800 12.97
074 V021800 0.00
074 W001800 0.0000
074 X001800 3
074 Y001800 0
075 A001800 0
075 B001800 780599
076 001800 0.00
008 A001901 TEMPLETON INVESTMENT MANAGEMENT (HK) LTD
008 B001901 A
008 C001901 801-42353
008 D011901 HONG KONG
008 D051901 HONG KONG
015 A001901 THE CHASE MANHATTAN BANK, N.A.
015 B001901 C
015 C011901 NEW YORK
015 C021901 NY
015 C031901 10081
015 E011901 X
015 A001902 THE CHASE MANHATTAN BANK, N.A.
015 B001902 S
015 C011902 BUENOS AIRES
015 D011902 ARGENTINA
015 E041902 X
015 A001903 THE CHASE MANHATTAN BANK AUSTRALIA LTD.
015 B001903 S
015 C011903 SYDNEY
015 D011903 AUSTRALIA
015 E041903 X
015 A001904 CREDITANSTALT-BANKVEREIN
015 B001904 S
015 C011904 VIENNA
015 D011904 AUSTRIA
015 E041904 X
015 A001905 STANDARD CHARTERED BANK
015 B001905 S
015 C011905 DHAKA
<PAGE> PAGE 168
015 D011905 BANGLADESH
015 E041905 X
015 A001906 GENERALE BANK
015 B001906 S
015 C011906 BRUSSELS
015 D011906 BELGIUM
015 E041906 X
015 A001907 ROYAL BANK OF CANADA
015 B001907 S
015 C011907 TORONTO
015 D011907 CANADA
015 D021907 M5J 2J5
015 E041907 X
015 A001908 THE CANADA TRUST COMPANY
015 B001908 S
015 C011908 TORONTO
015 D011908 CANADA
015 D021908 M5J 2T2
015 E041908 X
015 A001909 BANQUE BRUXELLES LAMBERT
015 B001909 S
015 C011909 MADRID
015 D011909 SPAIN
015 E041909 X
015 A001910 DEUTSCHE BANK, A.G.
015 B001910 S
015 C011910 KARACHI
015 D011910 PAKISTAN
015 E041910 X
015 A001911 BANCO NACIONAL DE MEXICO
015 B001911 S
015 C011911 MEXICO, D.F.
015 D011911 MEXICO
015 E041911 X
015 A001912 DEN DANSKE BANK
015 B001912 S
015 C011912 COPENHAGEN
015 D011912 DENMARK
015 E041912 X
015 A001913 BARCLAYS BANK OF BOTSWANA LIMITED
015 B001913 S
015 C011913 GABORONE
015 D011913 BOTSWANA
015 E041913 X
015 A001914 KANSALLIS-OSAKE-PANKKI
015 B001914 S
015 C011914 HELSINKI
015 D011914 FINLAND
015 E041914 X
015 A001915 BANQUE PARIBAS
015 B001915 S
<PAGE> PAGE 169
015 C011915 PARIS
015 D011915 FRANCE
015 E041915 X
015 A001916 CHASE BANK, A.G.
015 B001916 S
015 C011916 FRANKFURT
015 D011916 GERMANY
015 E041916 X
015 A001917 BARCLAYS BANK PLC
015 B001917 S
015 C011917 ATHENS
015 D011917 GREECE
015 D021917 10562
015 E041917 X
015 A001918 THE CHASE MANHATTAN BANK, N.A.
015 B001918 S
015 C011918 HONG KONG
015 D011918 HONG KONG
015 E041918 X
015 A001919 CITIBANK BUDAPEST RT.
015 B001919 S
015 C011919 BUDAPEST
015 D011919 HUNGARY
015 D021919 1052
015 E041919 X
015 A001921 THE HONGKONG & SHANGHAI BANKING CORP.
015 B001921 S
015 C011921 JAKARTA
015 D011921 INDONESIA
015 D021921 10023
015 E041921 X
015 A001922 BANK OF IRELAND
015 B001922 S
015 C011922 DUBLIN
015 D011922 IRELAND
015 E041922 X
015 A001923 BANK LEUMI LE-ISRAEL B.M.
015 B001923 S
015 C011923 TEL AVIV
015 D011923 ISRAEL
015 D021923 65136
015 E041923 X
015 A001924 THE CHASE MANHATTAN BANK, N.A.
015 B001924 S
015 C011924 MILAN
015 D011924 ITALY
015 D021924 20121
015 E041924 X
015 A001925 THE CHASE MANHATTAN BANK, N.A.
015 B001925 S
015 C011925 TOKYO
<PAGE> PAGE 170
015 D011925 JAPAN
015 D021925 100
015 E041925 X
015 A001926 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B001926 S
015 C011926 BOMBAY
015 D011926 INDIA
015 E041926 X
015 A001927 DEUTSCHE BANK, A.G.
015 B001927 S
015 C011927 BOMBAY
015 D011927 INDIA
015 E041927 X
015 A001928 THE CHASE MANHATTAN BANK, N.A.
015 B001928 S
015 C011928 TAIPEI
015 D011928 TAIWAN (ROC)
015 E041928 X
015 A001929 THE CHASE MANHATTAN BANK, N.A.
015 B001929 S
015 C011929 KUALA LUMPUR
015 D011929 MALAYSIA
015 D021929 50250
015 E041929 X
015 A001930 THE CHASE MANHATTAN BANK, N.A.
015 B001930 S
015 C011930 MEXICO, D.F.
015 D011930 MEXICO
015 D021930 11000
015 E041930 X
015 A001931 BANQUE COMMERCIALE DU MAROC
015 B001931 S
015 C011931 CASABLANCA
015 D011931 MOROCCO
015 E041931 X
015 A001932 ABN-AMRO BANK N.V.
015 B001932 S
015 C011932 AMSTERDAM
015 D011932 NETHERLANDS
015 D021932 4800
015 E041932 X
015 A001933 NATIONAL NOMINEES LTD.
015 B001933 S
015 C011933 AUCKLAND
015 D011933 NEW ZEALAND
015 E041933 X
015 A001934 DEN NORSKE BANK
015 B001934 S
015 C011934 OSLO
015 D011934 NORWAY
015 E041934 X
<PAGE> PAGE 171
015 A001935 CITIBANK, N.A.
015 B001935 S
015 C011935 LIMA
015 D011935 PERU
015 E041935 X
015 A001937 THE HONGKONG & SHANGHAI BANKING CORP.
015 B001937 S
015 C011937 MANILA
015 D011937 PHILIPPINES
015 E041937 X
015 A001938 ARAB BANK, PLC
015 B001938 S
015 C011938 AMMAN
015 D011938 JORDAN
015 E041938 X
015 A001939 THE CHASE MANHATTAN BANK, N.A.
015 B001939 S
015 C011939 SANTIAGO
015 D011939 CHILE
015 E041939 X
015 A001957 BANK HANDLOWY W. WARZAWIE, S.A.
015 B001957 S
015 C011957 WARSAW
015 D011957 POLAND
015 E041957 X
015 A001959 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B001959 S
015 C011959 LISBON
015 D011959 PORTUGAL
015 D021959 1200
015 E041959 X
015 A001960 THE HONGKONG & SHANGHAI BANKING CORP.
015 B001960 S
015 C011960 SHANGHAI
015 D011960 CHINA
015 E041960 X
015 A001961 THE HONGKONG & SHANGHAI BANKING CORP.
015 B001961 S
015 C011961 SHENZHEN
015 D011961 CHINA
015 E041961 X
015 A001962 THE CHASE MANHATTAN BANK, N.A.
015 B001962 S
015 C011962 SINGAPORE
015 D011962 SINGAPORE
015 E041962 X
015 A001963 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B001963 S
015 C011963 JOHANNESBURG
015 D011963 SOUTH AFRICA
015 D021963 2001
<PAGE> PAGE 172
015 E041963 X
015 A001964 THE CHASE MANHATTAN BANK, N.A.
015 B001964 S
015 C011964 MADRID
015 D011964 SPAIN
015 D021964 28042
015 E041964 X
015 A001965 THE HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B001965 S
015 C011965 COLOMBO
015 D011965 SRI LANKA
015 E041965 X
015 A001966 SKANDINAVISKA ENSKILDA BANKEN
015 B001966 S
015 C011966 STOCKHOLM
015 D011966 SWEDEN
015 D021966 S-106 40
015 E041966 X
015 A001967 UNION BANK OF SWITZERLAND
015 B001967 S
015 C011967 ZURICH
015 D011967 SWITZERLAND
015 D021967 8021
015 E041967 X
015 A001968 THE CHASE MANHATTAN BANK, N.A.
015 B001968 S
015 C011968 BANGKOK
015 D011968 THAILAND
015 D021968 10500
015 E041968 X
015 A001969 TAKAS VE SAKLAMA A.S. (TVS) (DEPOSITORY)
015 B001969 S
015 C011969 ISTANBUL
015 D011969 TURKEY
015 E041969 X
015 A001970 THE FIRST NATIONAL BANK OF BOSTON
015 B001970 S
015 C011970 MONTEVIDEO
015 D011970 URUGUAY
015 E041970 X
015 A001971 CEDEL S.A. (DEPOSITORY)
015 B001971 S
015 C011971 LUXEMBOURG CITY
015 D011971 LUXEMBOURG
015 E041971 X
015 A001972 THE CHASE MANHATTAN BANK, N.A.
015 B001972 S
015 C011972 LONDON
015 D011972 UNITED KINGDOM
015 D021972 EC2P 2HD
015 E041972 X
<PAGE> PAGE 173
015 A001973 DELETE
015 A001974 FIRST NATIONAL BANK OF CHICAGO
015 B001974 S
015 C011974 LONDON
015 D011974 UNITED KINGDOM
015 D021974 EC3A 1AA
015 E041974 X
015 A001975 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B001975 S
015 C011975 SANTAFE DE BOGOTA
015 D011975 COLOMBIA
015 E041975 X
015 A001976 NATIONAL BANK OF EGYPT
015 B001976 S
015 C011976 CAIRO
015 D011976 EGYPT
015 E041976 X
015 A001977 THE HONGKONG & SHANGHAI BANKING CORP.
015 B001977 S
015 C011977 SEOUL
015 D011977 KOREA
015 E041977 X
015 A001978 CITIBANK, N.A.
015 B001978 S
015 C011978 CARACAS
015 D011978 VENEZUELA
015 D021978 1010
015 E041978 X
015 A001979 BARCLAYS BANK PLC
015 B001979 S
015 C011979 HARARE
015 D011979 ZIMBABWE
015 E041979 X
015 A001980 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001980 S
015 C011980 PRAGUE
015 D011980 CZECH REPUBLIC
015 D021980 115 20
015 E041980 X
015 A001981 BANCO CHASE MANHATTAN, S.A.
015 B001981 S
015 C011981 SAO PAULO
015 D011981 BRAZIL
015 D021981 04719-002
015 E041981 X
015 A001982 BARCLAYS BANK OF GHANA LTD.
015 B001982 S
015 C011982 ACCRA
015 D011982 GHANA
015 E041982 X
015 A001983 THE HONGKONG & SHANGHAI BANKING CORP.
<PAGE> PAGE 174
015 B001983 S
015 C011983 PORT LOUIS
015 D011983 MAURITIUS
015 E041983 X
015 A001984 CITIBANK, N.A.
015 B001984 S
015 C011984 KARACHI
015 D011984 PAKISTAN
015 E041984 X
028 A011900 5523
028 A021900 0
028 A031900 0
028 A041900 292
028 B011900 4170
028 B021900 0
028 B031900 0
028 B041900 291
028 C011900 5433
028 C021900 0
028 C031900 0
028 C041900 1617
028 D011900 8221
028 D021900 0
028 D031900 0
028 D041900 89
028 E011900 7258
028 E021900 0
028 E031900 0
028 E041900 3464
028 F011900 5367
028 F021900 605
028 F031900 0
028 F041900 1229
028 G011900 35972
028 G021900 605
028 G031900 0
028 G041900 6982
028 H001900 0
045 001900 Y
046 001900 N
047 001900 Y
048 001900 1.250
048 A011900 0
048 A021900 0.000
048 B011900 0
048 B021900 0.000
048 C011900 0
048 C021900 0.000
048 D011900 0
048 D021900 0.000
048 E011900 0
<PAGE> PAGE 175
048 E021900 0.000
048 F011900 0
048 F021900 0.000
048 G011900 0
048 G021900 0.000
048 H011900 0
048 H021900 0.000
048 I011900 0
048 I021900 0.000
048 J011900 0
048 J021900 0.000
048 K011900 0
048 K021900 0.000
049 001900 N
050 001900 N
051 001900 N
052 001900 N
053 A001900 N
055 A001900 N
055 B001900 N
056 001900 Y
057 001900 N
062 A001900 N
062 B001900 0.0
062 C001900 0.0
062 D001900 0.0
062 E001900 0.0
062 F001900 0.0
062 G001900 0.0
062 H001900 0.0
062 I001900 0.0
062 J001900 0.0
062 K001900 0.0
062 L001900 0.0
062 M001900 0.0
062 N001900 0.0
062 O001900 0.0
062 P001900 0.0
062 Q001900 0.0
062 R001900 0.0
063 A001900 0
063 B001900 0.0
066 A001900 Y
066 B001900 N
066 C001900 Y
066 D001900 N
066 E001900 N
066 F001900 N
066 G001900 N
067 001900 N
068 A001900 N
<PAGE> PAGE 176
068 B001900 Y
069 001900 N
070 A011900 Y
070 A021900 N
070 B011900 Y
070 B021900 N
070 C011900 Y
070 C021900 N
070 D011900 Y
070 D021900 N
070 E011900 Y
070 E021900 N
070 F011900 Y
070 F021900 N
070 G011900 Y
070 G021900 N
070 H011900 Y
070 H021900 N
070 I011900 N
070 I021900 N
070 J011900 Y
070 J021900 N
070 K011900 Y
070 K021900 N
070 L011900 Y
070 L021900 Y
070 M011900 Y
070 M021900 Y
070 N011900 Y
070 N021900 N
070 O011900 N
070 O021900 N
070 P011900 Y
070 P021900 N
070 Q011900 N
070 Q021900 N
070 R011900 N
070 R021900 N
071 A001900 56570
071 B001900 11619
071 C001900 87013
071 D001900 13
072 A001900 6
072 B001900 685
072 C001900 1880
072 D001900 0
072 E001900 0
072 F001900 687
072 G001900 0
072 H001900 0
072 I001900 0
<PAGE> PAGE 177
072 J001900 113
072 K001900 1
072 L001900 2
072 M001900 1
072 N001900 0
072 O001900 0
072 P001900 0
072 Q001900 0
072 R001900 5
072 S001900 1
072 T001900 0
072 U001900 0
072 V001900 0
072 W001900 1
072 X001900 811
072 Y001900 0
072 Z001900 1754
072AA001900 3296
072BB001900 1353
072CC011900 903
072CC021900 0
072DD011900 490
072DD021900 0
072EE001900 115
073 A011900 0.0366
073 A021900 0.0000
073 B001900 0.0086
073 C001900 0.0000
074 A001900 256
074 B001900 0
074 C001900 17710
074 D001900 0
074 E001900 0
074 F001900 115297
074 G001900 0
074 H001900 0
074 I001900 0
074 J001900 0
074 K001900 0
074 L001900 664
074 M001900 0
074 N001900 133927
074 O001900 1816
074 P001900 133
074 Q001900 0
074 R011900 0
074 R021900 0
074 R031900 0
074 R041900 199
074 S001900 0
074 T001900 131779
<PAGE> PAGE 178
074 U011900 13426
074 U021900 0
074 V011900 9.81
074 V021900 0.00
074 W001900 0.0000
074 X001900 3
074 Y001900 0
075 A001900 0
075 B001900 110956
076 001900 0.00
008 A002001 TEMPLETON GALBRAITH & HANSBURGER LTD
008 B002001 A
008 C002001 801-42343
008 D012001 NASSAU
008 D052001 BAHAMAS
015 A002001 THE CHASE MANHATTAN BANK, N.A.
015 B002001 C
015 C012001 NEW YORK
015 C022001 NY
015 C032001 10081
015 E012001 X
015 A002002 THE CHASE MANHATTAN BANK, N.A.
015 B002002 S
015 C012002 BUENOS AIRES
015 D012002 ARGENTINA
015 E042002 X
015 A002003 BARCLAYS BANK OF BOTSWANA LTD.
015 B002003 S
015 C012003 GABORONE
015 D012003 BOTSWANA
015 E042003 X
015 A002004 THE CHASE MANHATTAN BANK AUSTRALIA LTD.
015 B002004 S
015 C012004 SYDNEY
015 D012004 AUSTRALIA
015 E042004 X
015 A002005 CREDITANSTALT - BANKVEREIN
015 B002005 S
015 C012005 VIENNA
015 D012005 AUSTRIA
015 E042005 X
015 A002006 STANDARD CHARTERED BANK
015 B002006 S
015 C012006 DHAKA
015 D012006 BANGLADESH
015 E042006 X
015 A002007 GENERALE BANK
015 B002007 S
015 C012007 BRUSSELS
015 D012007 BELGIUM
015 E042007 X
<PAGE> PAGE 179
015 A002008 BANCO CHASE MANHATTAN, S.A.
015 B002008 S
015 C012008 SAO PAULO
015 D012008 BRAZIL
015 E042008 X
015 A002009 ROYAL BANK OF CANADA
015 B002009 S
015 C012009 TORONTO
015 D012009 CANADA
015 E042009 X
015 A002010 THE CANADA TRUST COMPANY
015 B002010 S
015 C012010 TORONTO
015 D012010 CANADA
015 E042010 X
015 A002011 THE CHASE MANHATTAN BANK, N.A.
015 B002011 S
015 C012011 SANTIAGO
015 D012011 CHILE
015 E042011 X
015 A002012 CITITRUST COLOMBIA S.A.,SOCIEDAD FIDUCIARIA
015 B002012 S
015 C012012 SANTAFE DE BOGOTA
015 D012012 COLOMBIA
015 E042012 X
015 A002013 DEN DANSKE BANK
015 B002013 S
015 C012013 COPENHAGEN
015 D012013 DENMARK
015 E042013 X
015 A002014 NATIONAL BANK OF EGYPT
015 B002014 S
015 C012014 CAIRO
015 D012014 EGYPT
015 E042014 X
015 A002015 KANSALLIS-OSAKE-PANKKI
015 B002015 S
015 C012015 HELSINKI
015 D012015 FINLAND
015 E042015 X
015 A002016 BANQUE PARIBAS
015 B002016 S
015 C012016 PARIS
015 D012016 FRANCE
015 E042016 X
015 A002017 CHASE BANK A.G.
015 B002017 S
015 C012017 FRANKFURT
015 D012017 GERMANY
015 E042017 X
015 A002018 BARCLAYS BANK PLC
<PAGE> PAGE 180
015 B002018 S
015 C012018 ATHENS
015 D012018 GREECE
015 E042018 X
015 A002019 THE CHASE MANHATTAN BANK, N.A.
015 B002019 S
015 C012019 HONG KONG
015 D012019 HONG KONG
015 E042019 X
015 A002020 CITIBANK BUDAPEST RT
015 B002020 S
015 C012020 BUDAPEST
015 D012020 HUNGARY
015 E042020 X
015 A002021 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002021 S
015 C012021 BOMBAY
015 D012021 INDIA
015 E042021 X
015 A002022 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002022 S
015 C012022 JAKARTA
015 D012022 INDONESIA
015 E042022 X
015 A002023 BANK OF IRELAND
015 B002023 S
015 C012023 DUBLIN
015 D012023 IRELAND
015 E042023 X
015 A002024 BANK LEUMI LE-ISRAEL B.M.
015 B002024 S
015 C012024 TEL AVIV
015 D012024 ISRAEL
015 E042024 X
015 A002025 THE CHASE MANHATTAN BANK, N.A.
015 B002025 S
015 C012025 MILAN
015 D012025 ITALY
015 E042025 X
015 A002026 THE CHASE MANHATTAN BANK, N.A.
015 B002026 S
015 C012026 TOKYO
015 D012026 JAPAN
015 E042026 X
015 A002027 ARAB BANK, PLC
015 B002027 S
015 C012027 AMMAN
015 D012027 JORDAN
015 E042027 X
015 A002028 THE CHASE MANHATTAN BANK, N.A.
015 B002028 S
<PAGE> PAGE 181
015 C012028 KUALA LUMPUR
015 D012028 MALAYSIA
015 E042028 X
015 A002029 THE CHASE MANHATTAN BANK, N.A.
015 B002029 S
015 C012029 MEXICO, D.F.
015 D012029 MEXICO
015 E042029 X
015 A002030 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B002030 S
015 C012030 SANTAFE DE BOGOTA
015 D012030 COLOMBIA
015 E042030 X
015 A002031 ABN-AMRO BANK N.V.
015 B002031 S
015 C012031 AMSTERDAM
015 D012031 NETHERLANDS
015 E042031 X
015 A002032 NATIONAL NOMINEES LIMITED
015 B002032 S
015 C012032 AUCKLAND
015 D012032 NEW ZEALAND
015 E042032 X
015 A002033 BANQUE PARIBAS
015 B002033 S
015 C012033 PARIS
015 D012033 FRANCE
015 E042033 X
015 A002034 CHASE BANK A.G.
015 B002034 S
015 C012034 FRANKFURT
015 D012034 GERMANY
015 E042034 X
015 A002035 CITIBANK, N.A.
015 B002035 S
015 C012035 LIMA
015 D012035 PERU
015 E042035 X
015 A002036 THE HONGKONG AND SHANGHAI BANK CORP.
015 B002036 S
015 C012036 MANILA
015 D012036 PHILIPPINES
015 E042036 X
015 A002037 CITIBANK BUDAPEST RT
015 B002037 S
015 C012037 BUDAPEST
015 D012037 HUNGARY
015 E042037 X
015 A002038 DEUTSCHE BANK
015 B002038 S
015 C012038 BOMBAY
<PAGE> PAGE 182
015 D012038 INDIA
015 E042038 X
015 A002039 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002039 S
015 C012039 SHENZHEN
015 D012039 CHINA
015 E042039 X
015 A002040 THE CHASE MANHATTAN BANK, N.A.
015 B002040 S
015 C012040 SINGAPORE
015 D012040 SINGAPORE
015 E042040 X
015 A002041 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002041 S
015 C012041 SEOUL
015 D012041 KOREA
015 E042041 X
015 A002042 THE CHASE MANHATTAN BANK, N.A.
015 B002042 S
015 C012042 MADRID
015 D012042 SPAIN
015 E042042 X
015 A002043 THE HONG KONG AND SHANGHAI BANK CORP., LTD.
015 B002043 S
015 C012043 COLOMBO
015 D012043 SRI LANKA
015 E042043 X
015 A002044 SKANDINAVISKA ENSKILDA BANKEN
015 B002044 S
015 C012044 STOCKHOLM
015 D012044 SWEDEN
015 E042044 X
015 A002045 UNION BANK OF SWITZERLAND
015 B002045 S
015 C012045 ZURICH
015 D012045 SWITZERLAND
015 E042045 X
015 A002046 THE CHASE MANHATTAN BANK, N.A.
015 B002046 S
015 C012046 TAIPEI
015 D012046 TAIWAN (ROC)
015 E042046 X
015 A002047 THE CHASE MANHATTAN BANK, N.A.
015 B002047 S
015 C012047 BANGKOK
015 D012047 THAILAND
015 E042047 X
015 A002048 TAKAS VE SAKLAMA A.S. (TVS) (DEPOSITORY)
015 B002048 S
015 C012048 ISTANBUL
015 D012048 TURKEY
<PAGE> PAGE 183
015 E042048 X
015 A002049 THE CHASE MANHATTAN BANK, N.A.
015 B002049 S
015 C012049 LONDON
015 D012049 UNITED KINGDOM
015 E042049 X
015 A002050 THE FIRST NATIONAL BANK OF BOSTON
015 B002050 S
015 C012050 MONTEVIDEO
015 D012050 URUGUAY
015 E042050 X
015 A002051 CITIBANK, N.A.
015 B002051 S
015 C012051 CARACAS
015 D012051 VENEZUELA
015 E042051 X
015 A002052 BARCLAYS BANK PLC
015 B002052 S
015 C012052 HARARE
015 D012052 ZIMBABWE
015 E042052 X
015 A002053 CEDEL S.A. (DEPOSITORY)
015 B002053 S
015 C012053 LUXEMBOURG CITY
015 D012053 LUXEMBOURG
015 E042053 X
015 A002054 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002054 S
015 C012054 PRAGUE
015 D012054 CZECH REPUBLIC
015 E042054 X
015 A002055 BARCLAYS BANK OF GHANA LTD.
015 B002055 S
015 C012055 ACCRA
015 D012055 GHANA
015 E042055 X
015 A002056 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002056 S
015 C012056 SHANGHAI
015 D012056 CHINA
015 E042056 X
015 A002057 BANQUE COMMERCIALE DU MAROC
015 B002057 S
015 C012057 CASABLANCA
015 D012057 MOROCCO
015 E042057 X
015 A002058 BANK HANDLOWY W. WARZAWIE, S.A.
015 B002058 S
015 C012058 WARSAW
015 D012058 POLAND
015 E042058 X
<PAGE> PAGE 184
015 A002059 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B002059 S
015 C012059 JOHANNESBURG
015 D012059 SOUTH AFRICA
015 E042059 X
015 A002060 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002060 S
015 C012060 PORT LOUIS
015 D012060 MAURITIUS
015 E042060 X
015 A002061 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002061 S
015 C012061 SHENZHEN
015 D012061 CHINA
015 E042061 X
015 A002062 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B002062 S
015 C012062 LISBON
015 D012062 PORTUGAL
015 E042062 X
015 A002063 THE HONG KONG AND SHANGHAI BANKING CORP.
015 B002063 S
015 C012063 BOMBAY
015 D012063 INDIA
015 E042063 X
015 A002064 DEUTSCHE BANK, A.G.
015 B002064 S
015 C012064 KARACHI
015 D012064 PAKISTAN
015 E042064 X
015 A002065 BANQUE BRUXELLES LAMBERT
015 B002065 S
015 C012065 MADRID
015 D012065 SPAIN
015 E042065 X
015 A002066 FIRST NATIONAL BANK OF CHICAGO
015 B002066 S
015 C012066 LONDON
015 D012066 UNITED KINGDOM
015 E042066 X
028 A012000 15125
028 A022000 0
028 A032000 0
028 A042000 4347
028 B012000 13615
028 B022000 0
028 B032000 0
028 B042000 1871
028 C012000 16570
028 C022000 0
028 C032000 0
<PAGE> PAGE 185
028 C042000 2000
028 D012000 14280
028 D022000 0
028 D032000 0
028 D042000 1733
028 E012000 16182
028 E022000 0
028 E032000 0
028 E042000 4600
028 F012000 16622
028 F022000 1325
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028 F042000 2080
028 G012000 92394
028 G022000 1325
028 G032000 0
028 G042000 16631
028 H002000 0
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046 002000 N
047 002000 Y
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048 A022000 1.000
048 B012000 150000
048 B022000 0.900
048 C012000 250000
048 C022000 0.800
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048 D022000 0.000
048 E012000 0
048 E022000 0.000
048 F012000 0
048 F022000 0.000
048 G012000 0
048 G022000 0.000
048 H012000 0
048 H022000 0.000
048 I012000 0
048 I022000 0.000
048 J012000 0
048 J022000 0.000
048 K012000 500000
048 K022000 0.750
049 002000 N
050 002000 N
051 002000 N
052 002000 N
053 A002000 N
055 A002000 Y
055 B002000 N
<PAGE> PAGE 186
056 002000 Y
057 002000 N
062 A002000 N
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062 C002000 0.0
062 D002000 0.0
062 E002000 0.0
062 F002000 0.0
062 G002000 0.0
062 H002000 0.0
062 I002000 0.0
062 J002000 0.0
062 K002000 0.0
062 L002000 0.0
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<PAGE> PAGE 187
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070 L022000 Y
070 M012000 Y
070 M022000 Y
070 N012000 Y
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070 O022000 N
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<PAGE> PAGE 188
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008 A002101 TEMPLETON, GALBRAITH, HANSBERGER, LTD.
008 B002101 A
008 C002101 801-42343
008 D012101 NASSAU
008 D052101 BAHAMAS
008 A002102 TEMPLETON INVESTMENT COUNSEL, INC.
008 B002102 S
008 C002102 801-15125
008 D012102 FORT LAUDERDALE
008 D022102 FL
<PAGE> PAGE 189
008 D032102 33394
008 D042102 3091
015 A002101 THE CHASE MANHATTAN BANK, N.A.
015 B002101 C
015 C012101 NEW YORK
015 C022101 NY
015 C032101 10081
015 E012101 X
015 A002102 THE CHASE MANHATTAN BANK, N.A.
015 B002102 S
015 C012102 BUENOS AIRES
015 D012102 ARGENTINA
015 E042102 X
015 A002103 DELETE
015 A002104 CREDITANSTALT - BANKVEREIN
015 B002104 S
015 C012104 VIENNA
015 D012104 AUSTRIA
015 E042104 X
015 A002105 STANDARD CHARTERED BANK
015 B002105 S
015 C012105 DHAKA
015 D012105 BANGLADESH
015 E042105 X
015 A002106 GENERALE BANK
015 B002106 S
015 C012106 BRUSSELS
015 D012106 BELGIUM
015 E042106 X
015 A002107 ROYAL BANK OF CANADA
015 B002107 S
015 C012107 TORONTO
015 D012107 CANADA
015 E042107 X
015 A002108 THE CANADA TRUST COMPANY
015 B002108 S
015 C012108 TORONTO
015 D012108 CANADA
015 E042108 X
015 A002109 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B002109 S
015 C012109 SANTAFE DE BOGOTA
015 D012109 COLOMBIA
015 E042109 X
015 A002110 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002110 S
015 C012110 PRAGUE
015 D012110 CZECH REPUBLIC
015 E042110 X
015 A002111 DEN DANSKE BANK
015 B002111 S
<PAGE> PAGE 190
015 C012111 COPENHAGEN
015 D012111 DENMARK
015 E042111 X
015 A002112 NATIONAL BANK OF EGYPT
015 B002112 S
015 C012112 CAIRO
015 D012112 EGYPT
015 E042112 X
015 A002113 KANSALLIS-OSAKE-PANKKI
015 B002113 S
015 C012113 HELSINKI
015 D012113 FINLAND
015 E042113 X
015 A002114 BANQUE PARIBAS
015 B002114 S
015 C012114 PARIS
015 D012114 FRANCE
015 E042114 X
015 A002115 CHASE BANK, A.G.
015 B002115 S
015 C012115 FRANKFURT
015 D012115 GERMANY
015 E042115 X
015 A002116 BARCLAYS BANK OF GHANA LTD.
015 B002116 S
015 C012116 ACCRA
015 D012116 GHANA
015 E042116 X
015 A002117 BARCLAYS BANK PLC
015 B002117 S
015 C012117 ATHENS
015 D012117 GREECE
015 E042117 X
015 A002118 THE CHASE MANHATTAN BANK, N.A.
015 B002118 S
015 C012118 HONG KONG
015 D012118 HONG KONG
015 E042118 X
015 A002119 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002119 S
015 C012119 JAKARTA
015 D012119 INDONESIA
015 E042119 X
015 A002120 BANK OF IRELAND
015 B002120 S
015 C012120 DUBLIN
015 D012120 IRELAND
015 E042120 X
015 A002121 BANK LEUMI LE-ISRAEL B.M.
015 B002121 S
015 C012121 TEL AVIV
<PAGE> PAGE 191
015 D012121 ISRAEL
015 E042121 X
015 A002122 THE CHASE MANHATTAN BANK, N.A.
015 B002122 S
015 C012122 MILAN
015 D012122 ITALY
015 E042122 X
015 A002123 THE CHASE MANHATTAN BANK, N.A.
015 B002123 S
015 C012123 TOKYO
015 D012123 JAPAN
015 E042123 X
015 A002124 THE CHASE MANHATTAN BANK, N.A.
015 B002124 S
015 C012124 KUALA LUMPUR
015 D012124 MALAYSIA
015 E042124 X
015 A002125 THE HONGKONG & SHANGHAI BANKING CORP.
015 B002125 S
015 C012125 PORT LOUIS
015 D012125 MAURITIUS
015 E042125 X
015 A002126 THE CHASE MANHATTAN BANK, N.A.
015 B002126 S
015 C012126 MEXICO D.F.
015 D012126 MEXICO
015 E042126 X
015 A002127 BANQUE COMMERCIALE DU MAROC
015 B002127 S
015 C012127 CASABLANCA
015 D012127 MOROCCO
015 E042127 X
015 A002128 ABN AMRO BANK N.V.
015 B002128 S
015 C012128 AMSTERDAM
015 D012128 NETHERLANDS
015 E042128 X
015 A002129 NATIONAL NOMINEES LIMITED
015 B002129 S
015 C012129 AUCKLAND
015 D012129 NEW ZEALAND
015 E042129 X
015 A002130 DEN NORSKE BANK
015 B002130 S
015 C012130 OSLO
015 D012130 NORWAY
015 E042130 X
015 A002131 THE HONGKONG & SHANGHAI BANKING CORP.
015 B002131 S
015 C012131 MANILA
015 D012131 PHILIPPINES
<PAGE> PAGE 192
015 E042131 X
015 A002132 BANCO ESPIRITO SANTO E COMMERCIAL DE LISBOA
015 B002132 S
015 C012132 LISBON
015 D012132 PORTUGAL
015 E042132 X
015 A002133 THE HONGKONG & SHANGHAI BANKING CORP.
015 B002133 S
015 C012133 SHANGHAI
015 D012133 CHINA
015 E042133 X
015 A002134 THE HONGKONG & SHANGHAI BANKING CORP.
015 B002134 S
015 C012134 SHENZHEN
015 D012134 CHINA
015 E042134 X
015 A002135 THE CHASE MANHATTAN BANK, N.A.
015 B002135 S
015 C012135 SINGAPORE
015 D012135 SINGAPORE
015 E042135 X
015 A002136 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B002136 S
015 C012136 JOHANNESBURG
015 D012136 SOUTH AFRICA
015 E042136 X
015 A002137 THE CHASE MANHATTAN BANK, N.A.
015 B002137 S
015 C012137 MADRID
015 D012137 SPAIN
015 E042137 X
015 A002138 SKANDINAVISKA ENSKILDA BANKEN
015 B002138 S
015 C012138 STOCKHOLM
015 D012138 SWEDEN
015 E042138 X
015 A002139 UNION BANK OF SWITZERLAND
015 B002139 S
015 C012139 ZURICH
015 D012139 SWITZERLAND
015 E042139 X
015 A002140 THE CHASE MANHATTAN BANK, N.A.
015 B002140 S
015 C012140 BANGKOK
015 D012140 THAILAND
015 E042140 X
015 A002141 THE CHASE MANHATTAN BANK, N.A.
015 B002141 S
015 C012141 LONDON
015 D012141 UNITED KINGDOM
015 E042141 X
<PAGE> PAGE 193
015 A002142 THE FIRST NATIONAL BANK OF BOSTON
015 B002142 S
015 C012142 MONTEVIDEO
015 D012142 URUGUAY
015 E042142 X
015 A002143 BARCLAYS BANK PLC
015 B002143 S
015 C012143 HARARE
015 D012143 ZIMBABWE
015 E042143 X
015 A002144 CEDEL S.A. (DEPOSITORY)
015 B002144 S
015 C012144 LUXEMBOURG CITY
015 D012144 LUXEMBOURG
015 E042144 X
015 A002145 FIRST NATIONAL BANK OF CHICAGO
015 B002145 S
015 C012145 LONDON
015 D012145 UNITED KINGDOM
015 E042145 X
015 A002146 RESERVE BANK (AUSTRACLEAR)
015 B002146 S
015 C012146 SYDNEY
015 D012146 AUSTRALIA
015 E042146 X
015 A002147 BANCO CHASE MANHATTAN, S.A.
015 B002147 S
015 C012147 SAO PAULO
015 D012147 BRAZIL
015 E042147 X
015 A002148 BARCLAYS BANK OF BOTSWANA LIMITED
015 B002148 S
015 C012148 GABORONE
015 D012148 BOTSWANA
015 E042148 X
015 A002149 CITIBANK BUDAPEST RT.
015 B002149 S
015 C012149 BUDAPEST
015 D012149 HUNGARY
015 E042149 X
015 A002150 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002150 S
015 C012150 BOMBAY
015 D012150 INDIA
015 E042150 X
015 A002151 DEUTSCHE BANK, A.G.
015 B002151 S
015 C012151 BOMBAY
015 D012151 INDIA
015 E042151 X
015 A002152 ARAB BANK, PLC
<PAGE> PAGE 194
015 B002152 S
015 C012152 AMMAN
015 D012152 JORDAN
015 E042152 X
015 A002153 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B002153 S
015 C012153 SEOUL
015 D012153 KOREA
015 E042153 X
015 A002154 BANCO NACIONAL DE MEXICO
015 B002154 S
015 C012154 MEXICO, D.F.
015 D012154 MEXICO
015 E042154 X
015 A002155 CITIBANK, N.A.
015 B002155 S
015 C012155 KARACHI
015 D012155 PAKISTAN
015 E042155 X
015 A002156 CITIBANK, N.A.
015 B002156 S
015 C012156 LIMA
015 D012156 PERU
015 E042156 X
015 A002157 BANK HANDLOWY W. WARZAWIE, S.A.
015 B002157 S
015 C012157 WARSAW
015 D012157 POLAND
015 E042157 X
015 A002158 BANQUE BRUXELLES LAMBERT
015 B002158 S
015 C012158 MADRID
015 D012158 SPAIN
015 E042158 X
015 A002159 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002159 S
015 C012159 COLOMBO
015 D012159 SRI LANKA
015 E042159 X
015 A002160 THE CHASE MANHATTAN BANK, N.A.
015 B002160 S
015 C012160 TAIPEI
015 D012160 TAIWAN (ROC)
015 E042160 X
015 A002161 TAKAS VE SAKLAMA A.S. (TVS) (DEPOSITORY)
015 B002161 S
015 C012161 ISTANBUL
015 D012161 TURKEY
015 E042161 X
015 A002162 CITIBANK, N.A.
015 B002162 S
<PAGE> PAGE 195
015 C012162 CARACAS
015 D012162 VENEZUELA
015 E042162 X
015 A002163 THE CHASE MANHATTAN BANK, N.A.
015 B002163 S
015 C012163 SANTIAGO
015 D012163 CHILE
015 E042163 X
015 A002164 DEUTSCHE BANK, A.G.
015 B002164 S
015 C012164 KARACHI
015 D012164 PAKISTAN
015 E042164 X
025 D002101 0
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045 002100 Y
<PAGE> PAGE 196
046 002100 Y
047 002100 Y
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048 B012100 700000
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048 C012100 1200000
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048 D012100 1300000
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048 G012100 0
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048 H012100 0
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048 I012100 0
048 I022100 0.000
048 J012100 0
048 J022100 0.000
048 K012100 1300000
048 K022100 0.595
049 002100 N
050 002100 N
051 002100 N
052 002100 N
053 A002100 N
055 A002100 N
055 B002100 N
056 002100 Y
057 002100 N
062 A002100 N
062 B002100 0.0
062 C002100 0.0
062 D002100 0.0
062 E002100 0.0
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062 K002100 0.0
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062 M002100 0.0
062 N002100 0.0
062 O002100 0.0
062 P002100 0.0
062 Q002100 0.0
<PAGE> PAGE 197
062 R002100 0.0
063 A002100 0
063 B002100 0.0
066 A002100 Y
066 B002100 N
066 C002100 N
066 D002100 N
066 E002100 N
066 F002100 N
066 G002100 Y
067 002100 N
068 A002100 N
068 B002100 N
069 002100 N
070 A012100 Y
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070 B012100 Y
070 B022100 N
070 C012100 Y
070 C022100 N
070 D012100 Y
070 D022100 N
070 E012100 Y
070 E022100 N
070 F012100 Y
070 F022100 N
070 G012100 Y
070 G022100 N
070 H012100 Y
070 H022100 N
070 I012100 N
070 I022100 N
070 J012100 Y
070 J022100 N
070 K012100 Y
070 K022100 N
070 L012100 Y
070 L022100 Y
070 M012100 Y
070 M022100 Y
070 N012100 Y
070 N022100 N
070 O012100 N
070 O022100 N
070 P012100 Y
070 P022100 N
070 Q012100 N
070 Q022100 N
070 R012100 N
070 R022100 N
071 A002100 2936
<PAGE> PAGE 198
071 B002100 498
071 C002100 1018
071 D002100 49
072 A002100 3
072 B002100 18
072 C002100 4
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072 O002100 0
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072 Q002100 0
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072 S002100 0
072 T002100 0
072 U002100 0
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072 W002100 0
072 X002100 4
072 Y002100 0
072 Z002100 18
072AA002100 8
072BB002100 2
072CC012100 3
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072DD022100 0
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074 D002100 1220
074 E002100 0
074 F002100 1227
074 G002100 0
074 H002100 0
074 I002100 0
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<PAGE> PAGE 199
074 L002100 59
074 M002100 0
074 N002100 4711
074 O002100 760
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SIGNATURE DIOMEDES LOO-TAM
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 373,777,184
<INVESTMENTS-AT-VALUE> 373,777,184
<RECEIVABLES> 74,831,378
<ASSETS-OTHER> 2,632
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 448,611,194
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,062,221
<TOTAL-LIABILITIES> 2,062,221
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 446,548,973
<SHARES-COMMON-STOCK> 446,548,973
<SHARES-COMMON-PRIOR> 518,618,386
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 446,548,973
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14,266,818
<OTHER-INCOME> 0
<EXPENSES-NET> (921,499)
<NET-INVESTMENT-INCOME> 13,345,319
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 13,345,319
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (13,345,319)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 229,333,876
<NUMBER-OF-SHARES-REDEEMED> (314,748,573)
<SHARES-REINVESTED> 13,345,284
<NET-CHANGE-IN-ASSETS> (72,069,413)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (864,226)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (921,499)
<AVERAGE-NET-ASSETS> 469,668,532
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.030
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> (0.030)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .390
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 599,447,075
<INVESTMENTS-AT-VALUE> 585,960,447
<RECEIVABLES> 89,388,421
<ASSETS-OTHER> 98,083
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 675,446,951
<PAYABLE-FOR-SECURITIES> 13,703,762
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 914,519
<TOTAL-LIABILITIES> 14,618,281
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 571,301,440
<SHARES-COMMON-STOCK> 44,483,398
<SHARES-COMMON-PRIOR> 38,603,888
<ACCUMULATED-NII-CURRENT> 6,996,439
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 56,017,419
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26,513,372
<NET-ASSETS> 660,828,670
<DIVIDEND-INCOME> 7,527,699
<INTEREST-INCOME> 1,027,068
<OTHER-INCOME> 0
<EXPENSES-NET> (1,563,233)
<NET-INVESTMENT-INCOME> 6,991,534
<REALIZED-GAINS-CURRENT> 56,693,222
<APPREC-INCREASE-CURRENT> 17,747,754
<NET-CHANGE-FROM-OPS> 81,432,510
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,012,172)
<DISTRIBUTIONS-OF-GAINS> (17,435,325)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,609,014
<NUMBER-OF-SHARES-REDEEMED> (4,436,244)
<SHARES-REINVESTED> 1,706,740
<NET-CHANGE-IN-ASSETS> 142,951,624
<ACCUMULATED-NII-PRIOR> 8,017,077
<ACCUMULATED-GAINS-PRIOR> 16,759,522
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,426,993)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,563,233)
<AVERAGE-NET-ASSETS> 583,554,276
<PER-SHARE-NAV-BEGIN> 13.420
<PER-SHARE-NII> .140
<PER-SHARE-GAIN-APPREC> 1.900
<PER-SHARE-DIVIDEND> (.190)
<PER-SHARE-DISTRIBUTIONS> (.410)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 14.860
<EXPENSE-RATIO> .540
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUEMARK FUND JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> PRECIOUS METALS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 101,223,940
<INVESTMENTS-AT-VALUE> 106,520,694
<RECEIVABLES> 18,315,979
<ASSETS-OTHER> 583,178
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 125,419,851
<PAYABLE-FOR-SECURITIES> 1,189,760
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,023,886
<TOTAL-LIABILITIES> 5,213,646
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 114,063,149
<SHARES-COMMON-STOCK> 8,651,478
<SHARES-COMMON-PRIOR> 8,878,448
<ACCUMULATED-NII-CURRENT> 1,055,659
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (209,740)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,297,137
<NET-ASSETS> 120,206,205
<DIVIDEND-INCOME> 922,464
<INTEREST-INCOME> 527,710
<OTHER-INCOME> 0
<EXPENSES-NET> (394,377)
<NET-INVESTMENT-INCOME> 1,055,797
<REALIZED-GAINS-CURRENT> (209,740)
<APPREC-INCREASE-CURRENT> (402,058)
<NET-CHANGE-FROM-OPS> 443,999
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,664,389)
<DISTRIBUTIONS-OF-GAINS> (1,232,041)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,697,164
<NUMBER-OF-SHARES-REDEEMED> (3,129,700)
<SHARES-REINVESTED> 205,566
<NET-CHANGE-IN-ASSETS> (4,872,154)
<ACCUMULATED-NII-PRIOR> 1,682,044
<ACCUMULATED-GAINS-PRIOR> 1,214,248
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (354,448)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (394,377)
<AVERAGE-NET-ASSETS> 117,992,608
<PER-SHARE-NAV-BEGIN> 14.090
<PER-SHARE-NII> .130
<PER-SHARE-GAIN-APPREC> .020
<PER-SHARE-DIVIDEND> (.200)
<PER-SHARE-DISTRIBUTIONS> (.150)
<RETURNS-OF-CAPITAL> 000
<PER-SHARE-NAV-END> 13.890
<EXPENSE-RATIO> .670
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> REAL ESTATE SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 180,507,470
<INVESTMENTS-AT-VALUE> 185,721,113
<RECEIVABLES> 12,375,243
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 198,096,356
<PAYABLE-FOR-SECURITIES> 2,530,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 329,281
<TOTAL-LIABILITIES> 2,859,281
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 188,709,034
<SHARES-COMMON-STOCK> 12,653,322
<SHARES-COMMON-PRIOR> 12,784,838
<ACCUMULATED-NII-CURRENT> 4,590,888
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,276,490)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,213,643
<NET-ASSETS> 195,237,075
<DIVIDEND-INCOME> 4,811,572
<INTEREST-INCOME> 356,994
<OTHER-INCOME> 0
<EXPENSES-NET> (576,498)
<NET-INVESTMENT-INCOME> 4,592,068
<REALIZED-GAINS-CURRENT> (1,773,394)
<APPREC-INCREASE-CURRENT> 4,978,979
<NET-CHANGE-FROM-OPS> 7,797,653
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,411,953)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,418,224
<NUMBER-OF-SHARES-REDEEMED> (1,967,457)
<SHARES-REINVESTED> 417,717
<NET-CHANGE-IN-ASSETS> (459,600)
<ACCUMULATED-NII-PRIOR> 6,410,773
<ACCUMULATED-GAINS-PRIOR> (1,503,096)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (536,256)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (576,498)
<AVERAGE-NET-ASSETS> 191,312,967
<PER-SHARE-NAV-BEGIN> 15.310
<PER-SHARE-NII> .380
<PER-SHARE-GAIN-APPREC> .260
<PER-SHARE-DIVIDEND> (.520)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 15.430
<EXPENSE-RATIO> .610
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> UTILITY EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 1,240,726,804
<INVESTMENTS-AT-VALUE> 1,179,022,762
<RECEIVABLES> 101,052,269
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,280,075,031
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,270,968
<TOTAL-LIABILITIES> 2,270,968
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,317,589,518
<SHARES-COMMON-STOCK> 83,174,930
<SHARES-COMMON-PRIOR> 80,105,304
<ACCUMULATED-NII-CURRENT> 34,070,742
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (12,152,360)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (61,703,837)
<NET-ASSETS> 1,277,804,063
<DIVIDEND-INCOME> 33,962,092
<INTEREST-INCOME> 3,293,188
<OTHER-INCOME> 0
<EXPENSES-NET> (3,179,543)
<NET-INVESTMENT-INCOME> 34,075,737
<REALIZED-GAINS-CURRENT> (1,667,267)
<APPREC-INCREASE-CURRENT> 114,310,445
<NET-CHANGE-FROM-OPS> 146,718,915
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (70,961,297)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,286,338
<NUMBER-OF-SHARES-REDEEMED> (7,794,860)
<SHARES-REINVESTED> 4,578,148
<NET-CHANGE-IN-ASSETS> 122,693,574
<ACCUMULATED-NII-PRIOR> 70,953,514
<ACCUMULATED-GAINS-PRIOR> (10,482,305)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,880,222)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,179,543)
<AVERAGE-NET-ASSETS> 1,234,715,877
<PER-SHARE-NAV-BEGIN> 14.420
<PER-SHARE-NII> .430
<PER-SHARE-GAIN-APPREC> 1.410
<PER-SHARE-DIVIDEND> (.900)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 15.360
<EXPENSE-RATIO> .520
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINGS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> HIGH INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 309,595,120
<INVESTMENTS-AT-VALUE> 313,901,280
<RECEIVABLES> 14,586,571
<ASSETS-OTHER> 912,144
<OTHER-ITEMS-ASSETS> 21
<TOTAL-ASSETS> 329,400,016
<PAYABLE-FOR-SECURITIES> 1,803,082
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 462,161
<TOTAL-LIABILITIES> 2,265,243
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 308,573,424
<SHARES-COMMON-STOCK> 25,306,809
<SHARES-COMMON-PRIOR> 20,891,409
<ACCUMULATED-NII-CURRENT> 14,178,595
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 78,811
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,303,943
<NET-ASSETS> 327,134,773
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15,014,580
<OTHER-INCOME> 0
<EXPENSES-NET> (897,546)
<NET-INVESTMENT-INCOME> 14,117,034
<REALIZED-GAINS-CURRENT> 269,993
<APPREC-INCREASE-CURRENT> 22,248,604
<NET-CHANGE-FROM-OPS> 36,635,631
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (21,305,944)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,115,943
<NUMBER-OF-SHARES-REDEEMED> (3,349,610)
<SHARES-REINVESTED> 1,649,067
<NET-CHANGE-IN-ASSETS> 72,098,324
<ACCUMULATED-NII-PRIOR> 21,367,505
<ACCUMULATED-GAINS-PRIOR> (191,182)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (784,348)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (897,546)
<AVERAGE-NET-ASSETS> 295,702,605
<PER-SHARE-NAV-BEGIN> 12.210
<PER-SHARE-NII> .450
<PER-SHARE-GAIN-APPREC> 1.180
<PER-SHARE-DIVIDEND> (.910)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 12.930
<EXPENSE-RATIO> .610
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 7
<NAME> GLOBAL INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 200,584,572
<INVESTMENTS-AT-VALUE> 200,352,750
<RECEIVABLES> 65,743,164
<ASSETS-OTHER> 123,096
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 266,219,010
<PAYABLE-FOR-SECURITIES> 15,930,076
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 732,777
<TOTAL-LIABILITIES> 16,662,853
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 252,276,870
<SHARES-COMMON-STOCK> 19,694,746
<SHARES-COMMON-PRIOR> 20,863,484
<ACCUMULATED-NII-CURRENT> 21,490,539
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (23,899,523)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (311,729)
<NET-ASSETS> 249,556,157
<DIVIDEND-INCOME> 416,425
<INTEREST-INCOME> 10,506,886
<OTHER-INCOME> 0
<EXPENSES-NET> (875,118)
<NET-INVESTMENT-INCOME> 10,048,193
<REALIZED-GAINS-CURRENT> (10,359,499)
<APPREC-INCREASE-CURRENT> 19,202,073
<NET-CHANGE-FROM-OPS> 18,890,767
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (9,275,584)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,121,922
<NUMBER-OF-SHARES-REDEEMED> (3,022,750)
<SHARES-REINVESTED> 732,090
<NET-CHANGE-IN-ASSETS> (4,754,651)
<ACCUMULATED-NII-PRIOR> 20,717,930
<ACCUMULATED-GAINS-PRIOR> (13,540,024)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (676,404)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (875,118)
<AVERAGE-NET-ASSETS> 247,852,418
<PER-SHARE-NAV-BEGIN> 12.190
<PER-SHARE-NII> 0.590
<PER-SHARE-GAIN-APPREC> 0.380
<PER-SHARE-DIVIDEND> (0.490)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 12.670
<EXPENSE-RATIO> 0.710
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 8
<NAME> INVESTMENT GRADE INTERMEDIATE BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 119,569,876
<INVESTMENTS-AT-VALUE> 120,959,960
<RECEIVABLES> 43,062,546
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 164,022,506
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 294,785
<TOTAL-LIABILITIES> 294,785
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 158,913,527
<SHARES-COMMON-STOCK> 12,111,684
<SHARES-COMMON-PRIOR> 11,637,842
<ACCUMULATED-NII-CURRENT> 4,256,980
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (832,870)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,390,084
<NET-ASSETS> 163,727,721
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,748,306
<OTHER-INCOME> 0
<EXPENSES-NET> (491,120)
<NET-INVESTMENT-INCOME> 4,257,186
<REALIZED-GAINS-CURRENT> 250,016
<APPREC-INCREASE-CURRENT> 4,458,711
<NET-CHANGE-FROM-OPS> 8,965,913
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,603,637)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,178,575
<NUMBER-OF-SHARES-REDEEMED> (1,192,446)
<SHARES-REINVESTED> 487,713
<NET-CHANGE-IN-ASSETS> 8,828,985
<ACCUMULATED-NII-PRIOR> 6,603,431
<ACCUMULATED-GAINS-PRIOR> (1,082,886)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (455,097)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (491,120)
<AVERAGE-NET-ASSETS> 158,527,638
<PER-SHARE-NAV-BEGIN> 13.310
<PER-SHARE-NII> 0.350
<PER-SHARE-GAIN-APPREC> 0.430
<PER-SHARE-DIVIDEND> (0.570)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.520
<EXPENSE-RATIO> 0.620
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUND JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 9
<NAME> INCOME SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 935,149,380
<INVESTMENTS-AT-VALUE> 928,380,671
<RECEIVABLES> 225,823,804
<ASSETS-OTHER> 737,530
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,154,942,005
<PAYABLE-FOR-SECURITIES> 7,697,813
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,662,379
<TOTAL-LIABILITIES> 9,360,192
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,115,253,014
<SHARES-COMMON-STOCK> 75,969,473
<SHARES-COMMON-PRIOR> 69,880,959
<ACCUMULATED-NII-CURRENT> 42,647,312
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5,562,657)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,755,856)
<NET-ASSETS> 1,145,581,813
<DIVIDEND-INCOME> 12,895,428
<INTEREST-INCOME> 32,535,396
<OTHER-INCOME> 0
<EXPENSES-NET> (2,776,922)
<NET-INVESTMENT-INCOME> 42,653,902
<REALIZED-GAINS-CURRENT> (5,562,657)
<APPREC-INCREASE-CURRENT> 84,468,521
<NET-CHANGE-FROM-OPS> 121,559,766
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (63,454,169)
<DISTRIBUTIONS-OF-GAINS> (5,103,693)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,720,036
<NUMBER-OF-SHARES-REDEEMED> (6,165,772)
<SHARES-REINVESTED> 4,534,250
<NET-CHANGE-IN-ASSETS> 145,579,435
<ACCUMULATED-NII-PRIOR> 67,603,145
<ACCUMULATED-GAINS-PRIOR> 948,127
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,488,992)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (2,776,922)
<AVERAGE-NET-ASSETS> 1,059,525,488
<PER-SHARE-NAV-BEGIN> 14.310
<PER-SHARE-NII> .540
<PER-SHARE-GAIN-APPREC> 1.190
<PER-SHARE-DIVIDEND> (.890)
<PER-SHARE-DISTRIBUTIONS> (.070)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 15.08
<EXPENSE-RATIO> .520
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUND JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 10
<NAME> U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 612,429,247
<INVESTMENTS-AT-VALUE> 621,305,766
<RECEIVABLES> 32,878,017
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 654,183,783
<PAYABLE-FOR-SECURITIES> 14,971,833
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 958,233
<TOTAL-LIABILITIES> 15,930,066
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 624,288,438
<SHARES-COMMON-STOCK> 48,418,913
<SHARES-COMMON-PRIOR> 46,075,699
<ACCUMULATED-NII-CURRENT> 21,028,030
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (15,939,270)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,876,519
<NET-ASSETS> 638,253,717
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 22,686,570
<OTHER-INCOME> 0
<EXPENSES-NET> (1,592,730)
<NET-INVESTMENT-INCOME> 21,093,840
<REALIZED-GAINS-CURRENT> (1,121,164)
<APPREC-INCREASE-CURRENT> 51,778,319
<NET-CHANGE-FROM-OPS> 71,750,995
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (43,440,615)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,525,842
<NUMBER-OF-SHARES-REDEEMED> (5,461,165)
<SHARES-REINVESTED> 3,278,537
<NET-CHANGE-IN-ASSETS> 59,214,632
<ACCUMULATED-NII-PRIOR> 43,374,805
<ACCUMULATED-GAINS-PRIOR> (14,818,106)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,491,677)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,592,730)
<AVERAGE-NET-ASSETS> 612,721,204
<PER-SHARE-NAV-BEGIN> 12.570
<PER-SHARE-NII> .450
<PER-SHARE-GAIN-APPREC> 1.120
<PER-SHARE-DIVIDEND> (.960)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 13.180
<EXPENSE-RATIO> .520
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUND JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 11
<NAME> FVF - ZERO COUPON FUND - 1995
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START>
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 46,541,886
<INVESTMENTS-AT-VALUE> 46,827,666
<RECEIVABLES> 67,351
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 46,895,017
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 127,153
<TOTAL-LIABILITIES> 127,153
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 44,650,865
<SHARES-COMMON-STOCK> 3,994,139
<SHARES-COMMON-PRIOR> 4,244,898
<ACCUMULATED-NII-CURRENT> 1,646,492
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 184,727
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 285,780
<NET-ASSETS> 46,767,864
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,746,772
<OTHER-INCOME> 0
<EXPENSES-NET> (100,038)
<NET-INVESTMENT-INCOME> 1,646,734
<REALIZED-GAINS-CURRENT> 184,961
<APPREC-INCREASE-CURRENT> 366,960
<NET-CHANGE-FROM-OPS> 2,198,865
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,252,328)
<DISTRIBUTIONS-OF-GAINS> (16,034)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 565,950
<NUMBER-OF-SHARES-REDEEMED> (1,093,272)
<SHARES-REINVESTED> 277,739
<NET-CHANGE-IN-ASSETS> (4,372,746)
<ACCUMULATED-NII-PRIOR> 3,252,086
<ACCUMULATED-GAINS-PRIOR> 15,800
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (89,247)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (100,038)
<AVERAGE-NET-ASSETS> 49,992,487
<PER-SHARE-NAV-BEGIN> 12.050
<PER-SHARE-NII> 0.520
<PER-SHARE-GAIN-APPREC> 0.020
<PER-SHARE-DIVIDEND> (0.870)
<PER-SHARE-DISTRIBUTIONS> (0.010)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.710
<EXPENSE-RATIO> 0.400
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 12
<NAME> FVF - ZERO COUPON FUND - 2000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 113,547,576
<INVESTMENTS-AT-VALUE> 121,997,621
<RECEIVABLES> 851,688
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 122,849,309
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 142,836
<TOTAL-LIABILITIES> 142,836
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 110,708,652
<SHARES-COMMON-STOCK> 8,274,992
<SHARES-COMMON-PRIOR> 6,919,210
<ACCUMULATED-NII-CURRENT> 3,500,814
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 46,962
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,450,045
<NET-ASSETS> 122,706,473
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,719,831
<OTHER-INCOME> 0
<EXPENSES-NET> (219,009)
<NET-INVESTMENT-INCOME> 3,500,822
<REALIZED-GAINS-CURRENT> 46,978
<APPREC-INCREASE-CURRENT> 10,785,884
<NET-CHANGE-FROM-OPS> 14,333,684
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,282,548)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,903,184
<NUMBER-OF-SHARES-REDEEMED> (901,697)
<SHARES-REINVESTED> 354,295
<NET-CHANGE-IN-ASSETS> 28,476,309
<ACCUMULATED-NII-PRIOR> 5,282,540
<ACCUMULATED-GAINS-PRIOR> (16)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (204,117)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (219,009)
<AVERAGE-NET-ASSETS> 110,837,359
<PER-SHARE-NAV-BEGIN> 13.620
<PER-SHARE-NII> .330
<PER-SHARE-GAIN-APPREC> 1.550
<PER-SHARE-DIVIDEND> (.670)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 14.830
<EXPENSE-RATIO> .400
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANAKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 13
<NAME> FVF-ZERO COUPON FUNE - 2005
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 62,401,615
<INVESTMENTS-AT-VALUE> 69,044,678
<RECEIVABLES> 1,458,664
<ASSETS-OTHER> 943
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 70,504,285
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 210,969
<TOTAL-LIABILITIES> 210,969
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 61,680,892
<SHARES-COMMON-STOCK> 4,469,268
<SHARES-COMMON-PRIOR> 3,743,694
<ACCUMULATED-NII-CURRENT> 2,003,725
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (34,364)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,643,063
<NET-ASSETS> 70,293,316
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,127,901
<OTHER-INCOME> 0
<EXPENSES-NET> (124,024)
<NET-INVESTMENT-INCOME> 2,003,877
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 9,051,881
<NET-CHANGE-FROM-OPS> 11,055,758
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,941,626)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,037,755
<NUMBER-OF-SHARES-REDEEMED> (497,421)
<SHARES-REINVESTED> 185,241
<NET-CHANGE-IN-ASSETS> 18,794,439
<ACCUMULATED-NII-PRIOR> 2,941,474
<ACCUMULATED-GAINS-PRIOR> (34,364)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (114,757)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (124,024)
<AVERAGE-NET-ASSETS> 62,144,356
<PER-SHARE-NAV-BEGIN> 13.760
<PER-SHARE-NII> .350
<PER-SHARE-GAIN-APPREC> 2.310
<PER-SHARE-DIVIDEND> (.690)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 15.730
<EXPENSE-RATIO> .400
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 14
<NAME> ZERO COUPON 2010
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 59,216,585
<INVESTMENTS-AT-VALUE> 68,043,263
<RECEIVABLES> 649,357
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 68,692,620
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 81,263
<TOTAL-LIABILITIES> 81,263
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 57,599,343
<SHARES-COMMON-STOCK> 4,384,338
<SHARES-COMMON-PRIOR> 3,483,788
<ACCUMULATED-NII-CURRENT> 1,975,556
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 209,780
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,826,678
<NET-ASSETS> 68,611,357
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,091,479
<OTHER-INCOME> 0
<EXPENSES-NET> (115,782)
<NET-INVESTMENT-INCOME> 1,975,697
<REALIZED-GAINS-CURRENT> 557,271
<APPREC-INCREASE-CURRENT> 9,880,024
<NET-CHANGE-FROM-OPS> 12,412,992
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,074,389)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,133,458
<NUMBER-OF-SHARES-REDEEMED> (1,362,719)
<SHARES-REINVESTED> 129,811
<NET-CHANGE-IN-ASSETS> 23,250,275
<ACCUMULATED-NII-PRIOR> 2,074,248
<ACCUMULATED-GAINS-PRIOR> (347,491)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (109,556)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (115,782)
<AVERAGE-NET-ASSETS> 57,953,784
<PER-SHARE-NAV-BEGIN> 13.020
<PER-SHARE-NII> .340
<PER-SHARE-GAIN-APPREC> 2.780
<PER-SHARE-DIVIDEND> (.490)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 15.650
<EXPENSE-RATIO> .400
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 15
<NAME> FVF - ADJUSTABLE U.S. GOVERNMENT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 199,317,722
<INVESTMENTS-AT-VALUE> 197,139,430
<RECEIVABLES> 8,075,830
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 205,215,260
<PAYABLE-FOR-SECURITIES> 193,777
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 652,481
<TOTAL-LIABILITIES> 846,258
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 212,069,991
<SHARES-COMMON-STOCK> 19,696,457
<SHARES-COMMON-PRIOR> 22,758,495
<ACCUMULATED-NII-CURRENT> 6,863,087
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (12,385,784)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,178,292)
<NET-ASSETS> 204,369,002
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,522,207
<OTHER-INCOME> 0
<EXPENSES-NET> (657,387)
<NET-INVESTMENT-INCOME> 6,864,820
<REALIZED-GAINS-CURRENT> (1,464,056)
<APPREC-INCREASE-CURRENT> 6,242,815
<NET-CHANGE-FROM-OPS> 11,643,579
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (13,455,726)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,738,743
<NUMBER-OF-SHARES-REDEEMED> (7,097,094)
<SHARES-REINVESTED> 1,296,313
<NET-CHANGE-IN-ASSETS> (35,326,435)
<ACCUMULATED-NII-PRIOR> 13,453,993
<ACCUMULATED-GAINS-PRIOR> (10,921,728)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (600,724)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (657,387)
<AVERAGE-NET-ASSETS> 257,683,876
<PER-SHARE-NAV-BEGIN> 10.530
<PER-SHARE-NII> .490
<PER-SHARE-GAIN-APPREC> .090
<PER-SHARE-DIVIDEND> (.730)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 10.380
<EXPENSE-RATIO> .510
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 16
<NAME> RISING DIVIDENDS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 263,698,257
<INVESTMENTS-AT-VALUE> 292,640,429
<RECEIVABLES> 89,015,041
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 381,655,470
<PAYABLE-FOR-SECURITIES> 1,473,452
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 426,993
<TOTAL-LIABILITIES> 1,900,445
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 360,872,381
<SHARES-COMMON-STOCK> 34,198,020
<SHARES-COMMON-PRIOR> 31,083,853
<ACCUMULATED-NII-CURRENT> 4,875,819
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (14,935,347)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 28,942,172
<NET-ASSETS> 379,755,025
<DIVIDEND-INCOME> 4,384,529
<INTEREST-INCOME> 1,822,369
<OTHER-INCOME> 0
<EXPENSES-NET> (1,330,441)
<NET-INVESTMENT-INCOME> 4,876,457
<REALIZED-GAINS-CURRENT> 128,547
<APPREC-INCREASE-CURRENT> 38,849,907
<NET-CHANGE-FROM-OPS> 43,854,911
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,063,908)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,879,103
<NUMBER-OF-SHARES-REDEEMED> (2,491,414)
<SHARES-REINVESTED> 726,478
<NET-CHANGE-IN-ASSETS> 69,825,998
<ACCUMULATED-NII-PRIOR> 8,063,270
<ACCUMULATED-GAINS-PRIOR> (15,063,894)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,289,676)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,330,441)
<AVERAGE-NET-ASSETS> 343,841,844
<PER-SHARE-NAV-BEGIN> 9.970
<PER-SHARE-NII> .120
<PER-SHARE-GAIN-APPREC> 1.250
<PER-SHARE-DIVIDEND> (.240)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 11.100
<EXPENSE-RATIO> .770
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUEMARK FUND JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 17
<NAME> TEMPLETON PACIFIC GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 312,407,970
<INVESTMENTS-AT-VALUE> 303,579,674
<RECEIVABLES> 45,343,594
<ASSETS-OTHER> 3,347,595
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 352,270,863
<PAYABLE-FOR-SECURITIES> 358,691
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,865,800
<TOTAL-LIABILITIES> 4,224,491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 349,577,277
<SHARES-COMMON-STOCK> 26,391,706
<SHARES-COMMON-PRIOR> 28,390,759
<ACCUMULATED-NII-CURRENT> 4,017,794
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,254,868
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (8,803,567)
<NET-ASSETS> 348,046,372
<DIVIDEND-INCOME> 4,846,596
<INTEREST-INCOME> 1,182,366
<OTHER-INCOME> 0
<EXPENSES-NET> (1,862,988)
<NET-INVESTMENT-INCOME> 4,165,974
<REALIZED-GAINS-CURRENT> 3,254,868
<APPREC-INCREASE-CURRENT> 564,141
<NET-CHANGE-FROM-OPS> 7,984,983
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,625,099)
<DISTRIBUTIONS-OF-GAINS> (2,753,036)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,281,337
<NUMBER-OF-SHARES-REDEEMED> (7,991,933)
<SHARES-REINVESTED> 711,543
<NET-CHANGE-IN-ASSETS> (27,785,698)
<ACCUMULATED-NII-PRIOR> 6,796,802
<ACCUMULATED-GAINS-PRIOR> 2,433,153
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,602,256)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,862,988)
<AVERAGE-NET-ASSETS> 356,993,992
<PER-SHARE-NAV-BEGIN> 13.240
<PER-SHARE-NII> .180
<PER-SHARE-GAIN-APPREC> .140
<PER-SHARE-DIVIDEND> (.260)
<PER-SHARE-DISTRIBUTIONS> (.110)
<RETURNS-OF-CAPITAL> 000
<PER-SHARE-NAV-END> 13.190
<EXPENSE-RATIO> 1.040
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS TEMPLETON INTERNATIONAL EQUITY FUND JUNE 30, 1995
SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 18
<NAME> TEMPLETON INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 749,827,021
<INVESTMENTS-AT-VALUE> 758,429,985
<RECEIVABLES> 59,963,203
<ASSETS-OTHER> 6,994,463
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 825,387,651
<PAYABLE-FOR-SECURITIES> 375,245
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,222,454
<TOTAL-LIABILITIES> 3,597,699
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 778,064,136
<SHARES-COMMON-STOCK> 63,341,751
<SHARES-COMMON-PRIOR> 62,763,083
<ACCUMULATED-NII-CURRENT> 14,448,719
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 20,616,415
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,660,682
<NET-ASSETS> 821,789,952
<DIVIDEND-INCOME> 13,925,488
<INTEREST-INCOME> 4,299,606
<OTHER-INCOME> 0
<EXPENSES-NET> (3,658,713)
<NET-INVESTMENT-INCOME> 14,566,381
<REALIZED-GAINS-CURRENT> 20,616,415
<APPREC-INCREASE-CURRENT> 23,540,560
<NET-CHANGE-FROM-OPS> 58,723,356
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (13,634,404)
<DISTRIBUTIONS-OF-GAINS> (16,891,097)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,879,657
<NUMBER-OF-SHARES-REDEEMED> (8,663,644)
<SHARES-REINVESTED> 2,362,655
<NET-CHANGE-IN-ASSETS> 36,665,478
<ACCUMULATED-NII-PRIOR> 13,466,616
<ACCUMULATED-GAINS-PRIOR> 16,941,223
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3,226,902)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,658,713)
<AVERAGE-NET-ASSETS> 780,598,947
<PER-SHARE-NAV-BEGIN> 12.510
<PER-SHARE-NII> .240
<PER-SHARE-GAIN-APPREC> .720
<PER-SHARE-DIVIDEND> (.220)
<PER-SHARE-DISTRIBUTIONS> (.280)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 12.970
<EXPENSE-RATIO> .940
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 19
<NAME> TEMPLETON DEVELOPING MARKETS EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 139,516,374
<INVESTMENTS-AT-VALUE> 133,007,700
<RECEIVABLES> 663,293
<ASSETS-OTHER> 256,176
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 133,927,169
<PAYABLE-FOR-SECURITIES> 1,816,335
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 332,167
<TOTAL-LIABILITIES> 2,148,502
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 134,592,250
<SHARES-COMMON-STOCK> 13,426,438
<SHARES-COMMON-PRIOR> 10,265,657
<ACCUMULATED-NII-CURRENT> 2,022,227
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,672,864
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,508,674)
<NET-ASSETS> 131,778,667
<DIVIDEND-INCOME> 1,879,872
<INTEREST-INCOME> 684,709
<OTHER-INCOME> 0
<EXPENSES-NET> (810,744)
<NET-INVESTMENT-INCOME> 1,753,837
<REALIZED-GAINS-CURRENT> 1,942,851
<APPREC-INCREASE-CURRENT> 903,138
<NET-CHANGE-FROM-OPS> 4,599,826
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (489,978)
<DISTRIBUTIONS-OF-GAINS> (115,131)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,694,156
<NUMBER-OF-SHARES-REDEEMED> (1,595,121)
<SHARES-REINVESTED> 61,746
<NET-CHANGE-IN-ASSETS> 33,589,786
<ACCUMULATED-NII-PRIOR> 758,368
<ACCUMULATED-GAINS-PRIOR> (154,856)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (686,915)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (810,744)
<AVERAGE-NET-ASSETS> 110,956,496
<PER-SHARE-NAV-BEGIN> 9.560
<PER-SHARE-NII> .120
<PER-SHARE-GAIN-APPREC> .180
<PER-SHARE-DIVIDEND> (.040)
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 9.810
<EXPENSE-RATIO> 1.470
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT AND IS QAULIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 20
<NAME> TEMPLETON GLOBAL GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 210,475,768
<INVESTMENTS-AT-VALUE> 220,116,229
<RECEIVABLES> 43,173,744
<ASSETS-OTHER> 146,551
<OTHER-ITEMS-ASSETS> 1,164,641
<TOTAL-ASSETS> 264,601,165
<PAYABLE-FOR-SECURITIES> 14,130,802
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 716,414
<TOTAL-LIABILITIES> 14,847,216
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 235,606,055
<SHARES-COMMON-STOCK> 22,359,102
<SHARES-COMMON-PRIOR> 15,160,495
<ACCUMULATED-NII-CURRENT> 3,668,986
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 839,659
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,639,249
<NET-ASSETS> 249,753,949
<DIVIDEND-INCOME> 2,226,298
<INTEREST-INCOME> 2,479,974
<OTHER-INCOME> 0
<EXPENSES-NET> (985,056)
<NET-INVESTMENT-INCOME> 3,721,216
<REALIZED-GAINS-CURRENT> 1,109,021
<APPREC-INCREASE-CURRENT> 10,304,531
<NET-CHANGE-FROM-OPS> 15,134,768
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,324,712)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,634,130
<NUMBER-OF-SHARES-REDEEMED> (1,554,545)
<SHARES-REINVESTED> 119,022
<NET-CHANGE-IN-ASSETS> 90,897,861
<ACCUMULATED-NII-PRIOR> 1,454,896
<ACCUMULATED-GAINS-PRIOR> (451,776)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (939,521)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (985,056)
<AVERAGE-NET-ASSETS> 199,175,476
<PER-SHARE-NAV-BEGIN> 10.480
<PER-SHARE-NII> .140
<PER-SHARE-GAIN-APPREC> .610
<PER-SHARE-DIVIDEND> (.060)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 11.170
<EXPENSE-RATIO> 1.000
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE LEGEND CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1995 SEMI-ANNUAL REPORT
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 21
<NAME> TEMPLETON GLOBAL ASSET ALLOCATION FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> APR-19-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 4,540,450
<INVESTMENTS-AT-VALUE> 4,543,210
<RECEIVABLES> 59,459
<ASSETS-OTHER> 108,667
<OTHER-ITEMS-ASSETS> 0
TOTAL-ASSETS> 4,711,336
<PAYABLE-FOR-SECURITIES> 759,660
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,427
<TOTAL-LIABILITIES> 762,087
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,921,579
<SHARES-COMMON-STOCK> 389,786
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 18,459
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,166
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,045
<NET-ASSETS> 3,949,249
DIVIDEND-INCOME> 3,854
<INTEREST-INCOME> 17,911
<OTHER-INCOME> 0
<EXPENSES-NET> (3,306)
<NET-INVESTMENT-INCOME> 18,459
<REALIZED-GAINS-CURRENT> 6,166
<APPREC-INCREASE-CURRENT> 3,045
<NET-CHANGE-FROM-OPS> 27,670
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 341,278
<NUMBER-OF-SHARES-REDEEMED> (1,492)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,449,249
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,357)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,306)
<AVERAGE-NET-ASSETS> 1,878,812
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> .050
<PER-SHARE-GAIN-APPREC> .080
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.130
<EXPENSE-RATIO> .880
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
