<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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015 A000203 NATIONAL AUSTRALIA BANK LTD.
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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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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015 B000340 S
015 C010340 CASABLANCA
015 D010340 MOROCCO
015 E040340 X
015 A000341 STANBIC BANK NAMIBIA LTD.
015 B000341 S
015 C010341 WINDHOEK
015 D010341 NAMIBIA
015 E040341 X
015 A000342 KAS-ASSOCIATIE NV
015 B000342 S
<PAGE> PAGE 35
015 C010342 AMSTERDAM
015 D010342 NETHERLANDS
015 E040342 X
015 A000343 MEESPIERSON NV
015 B000343 S
015 C010343 AMSTERDAM
015 D010343 NETHERLANDS
015 E040343 X
015 A000344 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B000344 S
015 C010344 WELLINGTON
015 D010344 NEW ZEALAND
015 E040344 X
015 A000345 STANBIC MERCHANT BANK NIGERIA LTD.
015 B000345 S
015 C010345 LAGOS
015 D010345 NIGERIA
015 E040345 X
015 A000346 DEN NORSKE BANK ASA
015 B000346 S
015 C010346 OSLO
015 D010346 NORWAY
015 E040346 X
015 A000347 STANDARD CHARTERED BANK
015 B000347 S
015 C010347 KARACHI
015 D010347 PAKISTAN
015 E040347 X
015 A000348 CITIBANK, N.A.
015 B000348 S
015 C010348 LIMA
015 D010348 PERU
015 E040348 X
015 A000349 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000349 S
015 C010349 PASIG CITY
015 D010349 PHILIPPINES
015 E040349 X
015 A000350 BANK HANDLOWY W. WARSZAWIE S.A.
015 B000350 S
015 C010350 WARSAW
015 D010350 POLAND
015 E040350 X
015 A000351 BANCO COMERCIAL PORTUGUES, S.A.
015 B000351 S
015 C010351 LISBON
015 D010351 PORTUGAL
015 E040351 X
015 A000352 UNITED OVERSEAS BANK LTD.
015 B000352 S
015 C010352 SINGAPORE
<PAGE> PAGE 36
015 D010352 SINGAPORE
015 E040352 X
015 A000353 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000353 S
015 C010353 SINGAPORE
015 D010353 SINGAPORE
015 E040353 X
015 A000354 CESKOSLOVENSKA OBCHODNA BANKA AS
015 B000354 S
015 C010354 BRATISLAVA
015 D010354 SLOVAK REPUBLIC
015 E040354 X
015 A000355 STANDARD CORPORATE AND MERCHANT BANK
015 B000355 S
015 C010355 JOHANNESBURG
015 D010355 SOUTH AFRICA
015 E040355 X
015 A000356 SEOULBANK
015 B000356 S
015 C010356 SEOUL
015 D010356 SOUTH KOREA
015 E040356 X
015 A000357 BANCO BILBAO VIZCAYA
015 B000357 S
015 C010357 MADRID
015 D010357 SPAIN
015 E040357 X
015 A000358 STANDARD CHARTERED BANK
015 B000358 S
015 C010358 COLOMBO
015 D010358 SRI LANKA
015 E040358 X
015 A000359 STANBIC BANK SWAZILAND LTD.
015 B000359 S
015 C010359 MBABANE
015 D010359 SWAZILAND
015 E040359 X
015 A000360 SKANDINAVISKA ENSKILDA BANKEN
015 B000360 S
015 C010360 STOCKHOLM
015 D010360 SWEDEN
015 E040360 X
015 A000361 UNION BANK OF SWITZERLAND
015 B000361 S
015 C010361 ZURICH
015 D010361 SWITZERLAND
015 E040361 X
015 A000362 BANK LEU LTD.
015 B000362 S
015 C010362 ZURICH
015 D010362 SWITZERLAND
<PAGE> PAGE 37
015 E040362 X
015 A000363 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000363 S
015 C010363 TAIPEI
015 D010363 TAIWAN
015 E040363 X
015 A000364 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B000364 S
015 C010364 BANGKOK
015 D010364 THAILAND
015 E040364 X
015 A000365 BANGKOK BANK PUBLIC COMPANY LTD.
015 B000365 S
015 C010365 BANGKOK
015 D010365 THAILAND
015 E040365 X
015 A000366 OSMANLI BANKASI A.S.
015 B000366 S
015 C010366 ISTANBUL
015 D010366 TURKEY
015 E040366 X
015 A000367 THE BANK OF NEW YORK
015 B000367 S
015 C010367 LONDON
015 D010367 UNITED KINGDOM
015 E040367 X
015 A000368 FIRST CHICAGO CLEARING CENTRE
015 B000368 S
015 C010368 LONDON
015 D010368 UNITED KINGDOM
015 E040368 X
015 A000369 THE FIRST NATIONAL BANK OF BOSTON
015 B000369 S
015 C010369 MONTEVIDEO
015 D010369 URUGUAY
015 E040369 X
015 A000370 CITIBANK, N.A.
015 B000370 S
015 C010370 CARACAS
015 D010370 VENEZUELA
015 E040370 X
015 A000371 STANBIC BANK ZAMBIA LTD.
015 B000371 S
015 C010371 LUSAKA
015 D010371 ZAMBIA
015 E040371 X
015 A000372 STANBIC BANK ZIMBABWE LTD.
015 B000372 S
015 C010372 HARARE
015 D010372 ZIMBABWE
015 E040372 X
<PAGE> PAGE 38
015 A000373 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B000373 S
015 C010373 MAKATI CITY
015 D010373 PHILIPPINES
015 E040373 X
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<PAGE> PAGE 39
048 C010300 9750000
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<PAGE> PAGE 40
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066 F000300 N
066 G000300 N
067 000300 N
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069 000300 N
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070 A020300 Y
070 B010300 Y
070 B020300 N
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070 E020300 N
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070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
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070 J020300 N
<PAGE> PAGE 41
070 K010300 N
070 K020300 N
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070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
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070 P020300 Y
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070 R010300 N
070 R020300 N
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<PAGE> PAGE 42
072DD020300 0
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008 A000401 FRANKLIN ADVISERS, INC.
008 B000401 A
008 C000401 801-26292
008 D010401 SAN MATEO
008 D020401 CA
008 D030401 94404
008 D040401 1585
015 A000401 BANK OF NEW YORK
015 B000401 C
015 C010401 NEW YORK
015 C020401 NY
015 C030401 10286
<PAGE> PAGE 43
015 E010401 X
015 A000402 THE BANK OF BOSTON
015 B000402 S
015 C010402 BUENOS AIRES
015 D010402 ARGENTINA
015 E040402 X
015 A000403 NATIONAL AUSTRALIA BANK LTD.
015 B000403 S
015 C010403 MELBOURNE
015 D010403 AUSTRALIA
015 E040403 X
015 A000404 CREDITANSTALT BANKVEREIN
015 B000404 S
015 C010404 VIENNA
015 D010404 AUSTRIA
015 E040404 X
015 A000405 STANDARD CHARTERED BANK PLC
015 B000405 S
015 C010405 DHAKA
015 D010405 BANGLADESH
015 E040405 X
015 A000406 BANQUE BRUXELLES LAMBERT
015 B000406 S
015 C010406 BRUSSELS
015 D010406 BELGIUM
015 E040406 X
015 A000407 STANBIC BANK BOTSWANA LTD.
015 B000407 S
015 C010407 GABARONE
015 D010407 BOTSWANA
015 E040407 X
015 A000408 THE FIRST NATIONAL BANK OF BOSTON
015 B000408 S
015 C010408 SAO PAULO
015 D010408 BRAZIL
015 E040408 X
015 A000409 ROYAL BANK OF CANADA
015 B000409 S
015 C010409 MONTREAL
015 D010409 CANADA
015 E040409 X
015 A000410 THE FIRST NATIONAL BANK OF BOSTON
015 B000410 S
015 C010410 SANTIAGO
015 D010410 CHILE
015 E040410 X
015 A000411 BANCO DE CHILE
015 B000411 S
015 C010411 SANTIAGO
015 D010411 CHILE
015 E040411 X
<PAGE> PAGE 44
015 A000412 THE STANDARD CHARTERED BANK, HONG KONG
015 B000412 S
015 C010412 HONG KONG
015 D010412 CHINA
015 E040412 X
015 A000413 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B000413 S
015 C010413 BOGOTA
015 D010413 COLOMBIA
015 E040413 X
015 A000414 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000414 S
015 C010414 PRAHA
015 D010414 CZECH REPUBLIC
015 E040414 X
015 A000415 DEN DANSKE BANK
015 B000415 S
015 C010415 COPENHAGEN
015 D010415 DENMARK
015 E040415 X
015 A000416 CITIBANK, N.A.
015 B000416 S
015 C010416 QUITO
015 D010416 ECUADOR
015 E040416 X
015 A000417 CITIBANK, N.A.-EGYPT BRANCH
015 B000417 S
015 C010417 CAIRO
015 D010417 EGYPT
015 E040417 X
015 A000418 MERITA BANK LTD.
015 B000418 S
015 C010418 HELSINKI
015 D010418 FINLAND
015 E040418 X
015 A000419 BANQUE PARIBAS
015 B000419 S
015 C010419 PARIS
015 D010419 FRANCE
015 E040419 X
015 A000420 CREDIT COMMERCIAL DE FRANCE
015 B000420 S
015 C010420 PARIS
015 D010420 FRANCE
015 E040420 X
015 A000421 DRESDNER BANK A.G.
015 B000421 S
015 C010421 FRANKFURT
015 D010421 GERMANY
015 E040421 X
015 A000422 MERCHANT BANK LTD.
<PAGE> PAGE 45
015 B000422 S
015 C010422 ACCRA
015 D010422 GHANA
015 E040422 X
015 A000423 NATIONAL BANK OF GREECE S.A.
015 B000423 S
015 C010423 ATHENS
015 D010423 GREECE
015 E040423 X
015 A000424 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000424 S
015 C010424 HONG KONG
015 D010424 HONG KONG
015 E040424 X
015 A000425 CITIBANK BUDAPEST RT.
015 B000425 S
015 C010425 BUDAPEST
015 D010425 HUNGARY
015 E040425 X
015 A000426 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000426 S
015 C010426 MUMBAI
015 D010426 INDIA
015 E040426 X
015 A000427 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000427 S
015 C010427 JAKARTA
015 D010427 INDONESIA
015 E040427 X
015 A000428 ALLIED IRISH BANKS, PLC
015 B000428 S
015 C010428 DUBLIN
015 D010428 IRELAND
015 E040428 X
015 A000429 BANK LEUMI LE-ISRAEL B.M.
015 B000429 S
015 C010429 TEL AVIV
015 D010429 ISRAEL
015 E040429 X
015 A000430 BANCA COMMERCIALE ITALIANA
015 B000430 S
015 C010430 MILAN
015 D010430 ITALY
015 E040430 X
015 A000431 BANQUE PARIBAS
015 B000431 S
015 C010431 MILAN
015 D010431 ITALY
015 E040431 X
015 A000432 JASDEC
015 B000432 S
<PAGE> PAGE 46
015 C010432 TOKYO
015 D010432 JAPAN
015 E040432 X
015 A000433 BANK OF TOKYO MITSUBISHI
015 B000433 S
015 C010433 TOKYO
015 D010433 JAPAN
015 E040433 X
015 A000434 THE BRITISH BANK OF THE MIDDLE EAST
015 B000434 S
015 C010434 AMMAN
015 D010434 JORDAN
015 E040434 X
015 A000435 STANBIC BANK KENYA LTD.
015 B000435 S
015 C010435 NAIROBI
015 D010435 KENYA
015 E040435 X
015 A000436 CEDEL
015 B000436 S
015 C010436 LUXEMBOURG CITY
015 D010436 LUXEMBOURG
015 E040436 X
015 A000437 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000437 S
015 C010437 LUXEMBOURG CITY
015 D010437 LUXEMBOURG
015 E040437 X
015 A000438 THE HONGKONG BANK MALAYSIA BERHAD
015 B000438 S
015 C010438 KUALA LUMPUR
015 D010438 MALAYSIA
015 E040438 X
015 A000439 BANCO NACIONAL DE MEXICO
015 B000439 S
015 C010439 MEXICO CITY
015 D010439 MEXICO
015 E040439 X
015 A000440 BANQUE COMMERCIALE DU MAROC
015 B000440 S
015 C010440 CASABLANCA
015 D010440 MOROCCO
015 E040440 X
015 A000441 STANBIC BANK NAMIBIA LTD.
015 B000441 S
015 C010441 WINDHOEK
015 D010441 NAMIBIA
015 E040441 X
015 A000442 KAS-ASSOCIATIE NV
015 B000442 S
015 C010442 AMSTERDAM
<PAGE> PAGE 47
015 D010442 NETHERLANDS
015 E040442 X
015 A000443 MEESPIERSON NV
015 B000443 S
015 C010443 AMSTERDAM
015 D010443 NETHERLANDS
015 E040443 X
015 A000444 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B000444 S
015 C010444 WELLINGTON
015 D010444 NEW ZEALAND
015 E040444 X
015 A000445 STANBIC MERCHANT BANK NIGERIA LTD.
015 B000445 S
015 C010445 LAGOS
015 D010445 NIGERIA
015 E040445 X
015 A000446 DEN NORSKE BANK ASA
015 B000446 S
015 C010446 OSLO
015 D010446 NORWAY
015 E040446 X
015 A000447 STANDARD CHARTERED BANK
015 B000447 S
015 C010447 KARACHI
015 D010447 PAKISTAN
015 E040447 X
015 A000448 CITIBANK, N.A.
015 B000448 S
015 C010448 LIMA
015 D010448 PERU
015 E040448 X
015 A000449 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000449 S
015 C010449 PASIG CITY
015 D010449 PHILIPPINES
015 E040449 X
015 A000450 BANK HANDLOWY W. WARSZAWIE S.A.
015 B000450 S
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015 E040450 X
015 A000451 BANCO COMERCIAL PORTUGUES S.A.
015 B000451 S
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015 D010451 PORTUGAL
015 E040451 X
015 A000452 UNITED OVERSEAS BANK LTD.
015 B000452 S
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015 D010452 SINGAPORE
<PAGE> PAGE 48
015 E040452 X
015 A000453 DEVELOPMENT BANK OF SINGAPORE LTD.
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015 D010453 SINGAPORE
015 E040453 X
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015 C010454 BRATISLAVA
015 D010454 SLOVAK REPUBLIC
015 E040454 X
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015 D010456 SOUTH KOREA
015 E040456 X
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015 B000457 S
015 C010457 MADRID
015 D010457 SPAIN
015 E040457 X
015 A000458 STANDARD CHARTERED BANK
015 B000458 S
015 C010458 COLOMBO
015 D010458 SRI LANKA
015 E040458 X
015 A000459 STANBIC BANK OF SWAZILAND LTD.
015 B000459 S
015 C010459 MBABANE
015 D010459 SWAZILAND
015 E040459 X
015 A000460 SKANDINAVISKA ENSKILDA BANKEN
015 B000460 S
015 C010460 STOCKHOLM
015 D010460 SWEDEN
015 E040460 X
015 A000461 UNION BANK OF SWITZERLAND
015 B000461 S
015 C010461 ZURICH
015 D010461 SWITZERLAND
015 E040461 X
015 A000462 BANK LEU LTD.
015 B000462 S
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<PAGE> PAGE 49
015 A000463 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000463 S
015 C010463 TAIPEI
015 D010463 TAIWAN
015 E040463 X
015 A000464 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B000464 S
015 C010464 BANGKOK
015 D010464 THAILAND
015 E040464 X
015 A000465 BANGKOK BANK PUBLIC COMPANY LTD.
015 B000465 S
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015 E040465 X
015 A000466 OSMANLI BANKASI A.S.
015 B000466 S
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015 E040466 X
015 A000467 THE BANK OF NEW YORK
015 B000467 S
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015 D010467 UNITED KINGDOM
015 E040467 X
015 A000468 FIRST CHICAGO CLEARING CENTRE
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015 E040468 X
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015 A000471 STANBIC BANK ZAMBIA LTD.
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015 D010471 ZAMBIA
015 E040471 X
015 A000472 STANBIC BANK ZIMBABWE LTD.
015 B000472 S
015 C010472 HARARE
015 D010472 ZIMBABWE
015 E040472 X
015 A000473 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
<PAGE> PAGE 50
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015 C010473 MAKATI CITY
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<PAGE> PAGE 51
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051 000400 N
052 000400 N
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054 O000400 N
055 A000400 N
055 B000400 N
056 000400 N
057 000400 N
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058 B000400 Y
058 C000400 Y
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<PAGE> PAGE 52
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066 B000400 N
066 C000400 Y
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 N
<PAGE> PAGE 53
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 Y
070 O010400 N
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
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071 B000400 42363
071 C000400 364921
071 D000400 12
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<PAGE> PAGE 54
072EE000400 5230
073 A010400 0.6720
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008 A000501 FRANKLIN ADVISERS, INC.
008 B000501 A
008 C000501 801-26292
008 D010501 SAN MATEO
008 D020501 CA
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008 D040501 1585
015 A000501 BANK OF NEW YORK
015 B000501 C
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<PAGE> PAGE 55
015 A000502 THE BANK OF BOSTON
015 B000502 S
015 C010502 BUENOS AIRES
015 D010502 ARGENTINA
015 E040502 X
015 A000503 NATIONAL AUSTRALIA BANK LTD.
015 B000503 S
015 C010503 MELBOURNE
015 D010503 AUSTRALIA
015 E040503 X
015 A000504 CREDITANSTALT BANKVEREIN
015 B000504 S
015 C010504 VIENNA
015 D010504 AUSTRIA
015 E040504 X
015 A000505 STANDARD CHARTERED BANK PLC
015 B000505 S
015 C010505 DHAKA
015 D010505 BANGLADESH
015 E040505 X
015 A000506 BANQUE BRUXELLES LAMBERT
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015 A000507 STANBIC BANK BOTSWANA LTD.
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015 D010507 BOTSWANA
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015 A000508 THE FIRST NATIONAL BANK OF BOSTON
015 B000508 S
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015 D010508 BRAZIL
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015 A000509 ROYAL BANK OF CANADA
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015 C010509 MONTREAL
015 D010509 CANADA
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015 A000510 THE FIRST NATIONAL BANK OF BOSTON
015 B000510 S
015 C010510 SANTIAGO
015 D010510 CHILE
015 E040510 X
015 A000511 BANCO DE CHILE
015 B000511 S
015 C010511 SANTIAGO
015 D010511 CHILE
015 E040511 X
015 A000512 THE STANDARD CHARTERED BANK, HONG KONG
<PAGE> PAGE 56
015 B000512 S
015 C010512 HONG KONG
015 D010512 CHINA
015 E040512 X
015 A000513 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B000513 S
015 C010513 BOGOTA
015 D010513 COLOMBIA
015 E040513 X
015 A000514 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000514 S
015 C010514 PRAHA
015 D010514 CZECH REPUBLIC
015 E040514 X
015 A000515 DEN DANSKE BANK
015 B000515 S
015 C010515 COPENHAGEN
015 D010515 DENMARK
015 E040515 X
015 A000516 CITIBANK, N.A.
015 B000516 S
015 C010516 QUITO
015 D010516 ECUADOR
015 E040516 X
015 A000517 CITIBANK, N.A.-EGYPT BRANCH
015 B000517 S
015 C010517 CAIRO
015 D010517 EGYPT
015 E040517 X
015 A000518 MERITA BANK LTD.
015 B000518 S
015 C010518 HELSINKI
015 D010518 FINLAND
015 E040518 X
015 A000519 BANQUE PARIBAS
015 B000519 S
015 C010519 PARIS
015 D010519 FRANCE
015 E040519 X
015 A000520 CREDIT COMMERCIAL DE FRANCE
015 B000520 S
015 C010520 PARIS
015 D010520 FRANCE
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015 A000521 DRESDNER BANK A.G.
015 B000521 S
015 C010521 FRANKFURT
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015 A000522 MERCHANT BANK LTD.
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<PAGE> PAGE 57
015 C010522 ACCRA
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015 A000523 NATIONAL BANK OF GREECE S.A.
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015 D010523 GREECE
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015 A000524 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
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015 D010524 HONG KONG
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015 C010525 BUDAPEST
015 D010525 HUNGARY
015 E040525 X
015 A000526 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
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015 C010526 MUMBAI
015 D010526 INDIA
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015 A000527 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
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015 D010527 INDONESIA
015 E040527 X
015 A000528 ALLIED IRISH BANKS, PLC
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015 D010528 IRELAND
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015 A000529 BANK LEUMI LE-ISRAEL B.M.
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015 D010529 ISRAEL
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015 A000530 BANCA COMMERCIALE ITALIANA
015 B000530 S
015 C010530 MILAN
015 D010530 ITALY
015 E040530 X
015 A000531 BANQUE PARIBAS
015 B000531 S
015 C010531 MILAN
015 D010531 ITALY
015 E040531 X
015 A000532 JASDEC
015 B000532 S
015 C010532 TOKYO
<PAGE> PAGE 58
015 D010532 JAPAN
015 E040532 X
015 A000533 BANK OF TOKYO MITSUBISHI
015 B000533 S
015 C010533 TOKYO
015 D010533 JAPAN
015 E040533 X
015 A000534 THE BRITISH BANK OF THE MIDDLE EAST
015 B000534 S
015 C010534 AMMAN
015 D010534 JORDAN
015 E040534 X
015 A000535 STANBIC BANK KENYA LTD.
015 B000535 S
015 C010535 NAIROBI
015 D010535 KENYA
015 E040535 X
015 A000536 CEDEL
015 B000536 S
015 C010536 LUXEMBOURG CITY
015 D010536 LUXEMBOURG
015 E040536 X
015 A000537 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000537 S
015 C010537 LUXEMBOURG CITY
015 D010537 LUXEMBOURG
015 E040537 X
015 A000538 THE HONGKONG BANK MALAYSIA BERHAD
015 B000538 S
015 C010538 KUALA LUMPUR
015 D010538 MALAYSIA
015 E040538 X
015 A000539 BANCO NACIONAL DE MEXICO
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015 C010539 MEXICO CITY
015 D010539 MEXICO
015 E040539 X
015 A000540 BANQUE COMMERCIALE DU MAROC
015 B000540 S
015 C010540 CASABLANCA
015 D010540 MOROCCO
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015 A000541 STANBIC BANK NAMIBIA LTD.
015 B000541 S
015 C010541 WINDHOEK
015 D010541 NAMIBIA
015 E040541 X
015 A000542 KAS-ASSOCIATIE NV
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<PAGE> PAGE 59
015 E040542 X
015 A000543 MEESPIERSON NV
015 B000543 S
015 C010543 AMSTERDAM
015 D010543 NETHERLANDS
015 E040543 X
015 A000544 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
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015 A000545 STANBIC MERCHANT BANK NIGERIA LTD.
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015 A000547 STANDARD CHARTERED BANK
015 B000547 S
015 C010547 KARACHI
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015 E040551 X
015 A000552 UNITED OVERSEAS BANK LTD.
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<PAGE> PAGE 60
015 A000553 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000553 S
015 C010553 SINGAPORE
015 D010553 SINGAPORE
015 E040553 X
015 A000554 CESKOSLOVENSKA OBCHODNA BANKA AS
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015 D010558 SRI LANKA
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<PAGE> PAGE 61
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<PAGE> PAGE 62
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<PAGE> PAGE 63
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052 000500 N
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054 B000500 Y
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054 E000500 N
054 F000500 N
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054 H000500 Y
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054 M000500 Y
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054 O000500 N
055 A000500 N
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056 000500 N
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058 B000500 Y
058 C000500 Y
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059 000500 Y
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060 B000500 Y
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<PAGE> PAGE 64
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066 D000500 N
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066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
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070 A010500 Y
070 A020500 Y
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070 B020500 N
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070 E010500 N
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070 F010500 N
070 F020500 N
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070 G020500 N
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070 I010500 N
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070 J020500 Y
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<PAGE> PAGE 65
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070 M020500 Y
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070 Q020500 N
070 R010500 N
070 R020500 N
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<PAGE> PAGE 66
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<PAGE> PAGE 67
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015 A000605 STANDARD CHARTERED BANK PLC
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<PAGE> PAGE 68
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015 A000622 MERCHANT BANK LTD.
015 B000622 S
015 C010622 ACCRA
<PAGE> PAGE 69
015 D010622 GHANA
015 E040622 X
015 A000623 NATIONAL BANK OF GREECE S.A.
015 B000623 S
015 C010623 ATHENS
015 D010623 GREECE
015 E040623 X
015 A000624 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000624 S
015 C010624 HONG KONG
015 D010624 HONG KONG
015 E040624 X
015 A000625 CITIBANK BUDAPEST RT.
015 B000625 S
015 C010625 BUDAPEST
015 D010625 HUNGARY
015 E040625 X
015 A000626 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000626 S
015 C010626 MUMBAI
015 D010626 INDIA
015 E040626 X
015 A000627 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000627 S
015 C010627 JAKARTA
015 D010627 INDONESIA
015 E040627 X
015 A000628 ALLIED IRISH BANKS, PLC
015 B000628 S
015 C010628 DUBLIN
015 D010628 IRELAND
015 E040628 X
015 A000629 BANK LEUMI LE-ISRAEL B.M.
015 B000629 S
015 C010629 TEL AVIV
015 D010629 ISRAEL
015 E040629 X
015 A000630 BANCA COMMERCIALE ITALIANA
015 B000630 S
015 C010630 MILAN
015 D010630 ITALY
015 E040630 X
015 A000631 BANQUE PARIBAS
015 B000631 S
015 C010631 MILAN
015 D010631 ITALY
015 E040631 X
015 A000632 JASDEC
015 B000632 S
015 C010632 TOKYO
015 D010632 JAPAN
<PAGE> PAGE 70
015 E040632 X
015 A000633 BANK OF TOKYO MITSUBISHI
015 B000633 S
015 C010633 TOKYO
015 D010633 JAPAN
015 E040633 X
015 A000634 THE BRITISH BANK OF THE MIDDLE EAST
015 B000634 S
015 C010634 AMMAN
015 D010634 JORDAN
015 E040634 X
015 A000635 STANBIC BANK KENYA LTD.
015 B000635 S
015 C010635 NAIROBI
015 D010635 KENYA
015 E040635 X
015 A000636 CEDEL
015 B000636 S
015 C010636 LUXEMBOURG CITY
015 D010636 LUXEMBOURG
015 E040636 X
015 A000637 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000637 S
015 C010637 LUXEMBOURG CITY
015 D010637 LUXEMBOURG
015 E040637 X
015 A000638 THE HONGKONG BANK MALAYSIA BERHAD
015 B000638 S
015 C010638 KUALA LUMPUR
015 D010638 MALAYSIA
015 E040638 X
015 A000639 BANCO NACIONAL DE MEXICO
015 B000639 S
015 C010639 MEXICO CITY
015 D010639 MEXICO
015 E040639 X
015 A000640 BANQUE COMMERCIALE DU MAROC
015 B000640 S
015 C010640 CASABLANCA
015 D010640 MOROCCO
015 E040640 X
015 A000641 STANBIC BANK NAMIBIA LTD.
015 B000641 S
015 C010641 WINDHOEK
015 D010641 NAMIBIA
015 E040641 X
015 A000642 KAS-ASSOCIATIE NV
015 B000642 S
015 C010642 AMSTERDAM
015 D010642 NETHERLANDS
015 E040642 X
<PAGE> PAGE 71
015 A000643 MEESPIERSON NV
015 B000643 S
015 C010643 AMSTERDAM
015 D010643 NETHERLANDS
015 E040643 X
015 A000644 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B000644 S
015 C010644 WELLINGTON
015 D010644 NEW ZEALAND
015 E040644 X
015 A000645 STANBIC MERCHANT BANK NIGERIA LTD.
015 B000645 S
015 C010645 LAGOS
015 D010645 NIGERIA
015 E040645 X
015 A000646 DEN NORSKE BANK ASA
015 B000646 S
015 C010646 OSLO
015 D010646 NORWAY
015 E040646 X
015 A000647 STANDARD CHARTERED BANK
015 B000647 S
015 C010647 KARACHI
015 D010647 PAKISTAN
015 E040647 X
015 A000648 CITIBANK, N.A.
015 B000648 S
015 C010648 LIMA
015 D010648 PERU
015 E040648 X
015 A000649 BANK HANDLOWY W. WARSZAWIE S.A.
015 B000649 S
015 C010649 WARSAW
015 D010649 POLAND
015 E040649 X
015 A000650 BANCO COMERCIAL PORTUGUES, S.A.
015 B000650 S
015 C010650 LISBON
015 D010650 PORTUGAL
015 E040650 X
015 A000651 UNITED OVERSEAS BANK LTD.
015 B000651 S
015 C010651 SINGAPORE
015 D010651 SINGAPORE
015 E040651 X
015 A000652 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000652 S
015 C010652 SINGAPORE
015 D010652 SINGAPORE
015 E040652 X
015 A000653 CESKOSLOVENSKA OBCHODNA BANKA AS
<PAGE> PAGE 72
015 B000653 S
015 C010653 BRATISLAVA
015 D010653 SLOVAK REPUBLIC
015 E040653 X
015 A000654 STANDARD CORPORATE AND MERCHANT BANK
015 B000654 S
015 C010654 JOHANNESBURG
015 D010654 SOUTH AFRICA
015 E040654 X
015 A000655 SEOULBANK
015 B000655 S
015 C010655 SEOUL
015 D010655 SOUTH KOREA
015 E040655 X
015 A000656 BANCO BILBAO VIZCAYA
015 B000656 S
015 C010656 MADRID
015 D010656 SPAIN
015 E040656 X
015 A000657 STANDARD CHARTERED BANK
015 B000657 S
015 C010657 COLOMBO
015 D010657 SRI LANKA
015 E040657 X
015 A000658 STANBIC BANK OF SWAZILAND LTD.
015 B000658 S
015 C010658 MBABANE
015 D010658 SWAZILAND
015 E040658 X
015 A000659 SKANDINAVISKA ENSKILDA BANKEN
015 B000659 S
015 C010659 STOCKHOLM
015 D010659 SWEDEN
015 E040659 X
015 A000660 UNION BANK OF SWITZERLAND
015 B000660 S
015 C010660 ZURICH
015 D010660 SWITZERLAND
015 E040660 X
015 A000661 BANK LEU LTD.
015 B000661 S
015 C010661 ZURICH
015 D010661 SWITZERLAND
015 E040661 X
015 A000662 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000662 S
015 C010662 TAIPEI
015 D010662 TAIWAN
015 E040662 X
015 A000663 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B000663 S
<PAGE> PAGE 73
015 C010663 BANGKOK
015 D010663 THAILAND
015 E040663 X
015 A000664 BANGKOK BANK PUBLIC COMPANY LTD.
015 B000664 S
015 C010664 BANGKOK
015 D010664 THAILAND
015 E040664 X
015 A000665 OSMANLI BANKASI A.S.
015 B000665 S
015 C010665 ISTANBUL
015 D010665 TURKEY
015 E040665 X
015 A000666 THE BANK OF NEW YORK
015 B000666 S
015 C010666 LONDON
015 D010666 UNITED KINGDOM
015 E040666 X
015 A000667 FIRST CHICAGO CLEARING CENTRE
015 B000667 S
015 C010667 LONDON
015 D010667 UNITED KINGDOM
015 E040667 X
015 A000668 THE FIRST NATIONAL BANK OF BOSTON
015 B000668 S
015 C010668 MONTEVIDEO
015 D010668 URUGUAY
015 E040668 X
015 A000669 CITIBANK, N.A.
015 B000669 S
015 C010669 CARACAS
015 D010669 VENEZUELA
015 E040669 X
015 A000670 STANBIC BANK ZAMBIA LTD.
015 B000670 S
015 C010670 LUSAKA
015 D010670 ZAMBIA
015 E040670 X
015 A000671 STANBIC BANK ZIMBABWE LTD.
015 B000671 S
015 C010671 HARARE
015 D010671 ZIMBABWE
015 E040671 X
015 A000672 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000672 S
015 C010672 PSAIG CITY
015 D010672 PHILIPPINES
015 E040672 X
015 A000673 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B000673 S
015 C010673 MAKATI CITY
<PAGE> PAGE 74
015 D010673 PHILIPPINES
015 E040673 X
024 000600 N
025 D000601 0
025 D000602 0
025 D000603 0
025 D000604 0
025 D000605 0
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 21990
028 A020600 0
028 A030600 0
028 A040600 13786
028 B010600 13771
028 B020600 0
028 B030600 0
028 B040600 18779
028 C010600 10648
028 C020600 0
028 C030600 0
028 C040600 7482
028 D010600 16943
028 D020600 0
028 D030600 0
028 D040600 20905
028 E010600 19849
028 E020600 0
028 E030600 0
028 E040600 8666
028 F010600 19792
028 F020600 0
028 F030600 0
028 F040600 10133
028 G010600 102993
028 G020600 0
028 G030600 0
028 G040600 79751
028 H000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.000
048 A010600 100000
048 A020600 0.625
048 B010600 150000
048 B020600 0.500
048 C010600 9750000
048 C020600 0.450
048 D010600 2500000
<PAGE> PAGE 75
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
051 000600 N
052 000600 N
053 A000600 N
054 A000600 Y
054 B000600 Y
054 C000600 Y
054 D000600 N
054 E000600 N
054 F000600 N
054 G000600 Y
054 H000600 Y
054 I000600 N
054 J000600 Y
054 K000600 N
054 L000600 Y
054 M000600 Y
054 N000600 N
054 O000600 N
055 A000600 Y
055 B000600 N
056 000600 N
057 000600 N
058 A000600 Y
058 B000600 Y
058 C000600 Y
058 D000600 Y
058 E000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 2000
062 A000600 Y
062 B000600 0.0
062 C000600 0.0
<PAGE> PAGE 76
062 D000600 4.9
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 91.8
062 Q000600 0.0
062 R000600 1.7
063 A000600 0
063 B000600 4.9
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 Y
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
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 N
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 Y
070 N010600 Y
<PAGE> PAGE 77
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 Y
070 P020600 Y
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 181050
071 B000600 158999
071 C000600 437107
071 D000600 36
072 A000600 12
072 B000600 45072
072 C000600 1370
072 D000600 0
072 E000600 0
072 F000600 2305
072 G000600 0
072 H000600 0
072 I000600 0
072 J000600 10
072 K000600 44
072 L000600 30
072 M000600 3
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 12
072 S000600 6
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 8
072 X000600 2418
072 Y000600 0
072 Z000600 44024
072AA000600 8163
072BB000600 5563
072CC010600 2724
072CC020600 0
072DD010600 37007
072DD020600 0
072EE000600 1214
073 A010600 1.2194
073 A020600 0.0000
073 B000600 0.0400
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<PAGE> PAGE 78
074 B000600 24267
074 C000600 0
074 D000600 455135
074 E000600 8054
074 F000600 709
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 8840
074 M000600 0
074 N000600 497005
074 O000600 0
074 P000600 210
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 759
074 S000600 0
074 T000600 496036
074 U010600 34324
074 U020600 0
074 V010600 14.45
074 V020600 0.00
074 W000600 0.0000
074 X000600 3
074 Y000600 22051
075 A000600 0
075 B000600 456778
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 94404
008 D040701 1585
008 A000702 TEMPLETON INVESTMENT COUNSEL, INC.
008 B000702 S
008 C000702 801-15125
008 D010702 FT. LAUDERDALE
008 D020702 FL
008 D030702 33394
008 D040702 3091
015 A000701 BANK OF NEW YORK
015 B000701 C
015 C010701 NEW YORK
015 C020701 NY
015 C030701 10286
<PAGE> PAGE 79
015 E010701 X
015 A000702 THE BANK OF BOSTON
015 B000702 S
015 C010702 BUENOS AIRES
015 D010702 ARGENTINA
015 E040702 X
015 A000703 NATIONAL AUSTRALIA BANK LTD.
015 B000703 S
015 C010703 MELBOURNE
015 D010703 AUSTRALIA
015 E040703 X
015 A000704 CREDITANSTALT BANKVEREIN
015 B000704 S
015 C010704 VIENNA
015 D010704 AUSTRIA
015 E040704 X
015 A000705 STANDARD CHARTERED BANK PLC
015 B000705 S
015 C010705 DHAKA
015 D010705 BANGLADESH
015 E040705 X
015 A000706 BANQUE BRUXELLES LAMBERT
015 B000706 S
015 C010706 BRUSSELS
015 D010706 BELGIUM
015 E040706 X
015 A000707 STANBIC BANK BOTSWANA LTD.
015 B000707 S
015 C010707 GABARONE
015 D010707 BOTSWANA
015 E040707 X
015 A000708 THE FIRST NATIONAL BANK OF BOSTON
015 B000708 S
015 C010708 SAO PAULO
015 D010708 BRAZIL
015 E040708 X
015 A000709 ROYAL BANK OF CANADA
015 B000709 S
015 C010709 MONTREAL
015 D010709 CANADA
015 E040709 X
015 A000710 THE FIRST NATIONAL BANK OF BOSTON
015 B000710 S
015 C010710 SANTIAGO
015 D010710 CHILE
015 E040710 X
015 A000711 BANCO DE CHILE
015 B000711 S
015 C010711 SANTIAGO
015 D010711 CHILE
015 E040711 X
<PAGE> PAGE 80
015 A000712 THE STANDARD CHARTERED BANK, HONG KONG
015 B000712 S
015 C010712 HONG KONG
015 D010712 CHINA
015 E040712 X
015 A000713 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000713 S
015 C010713 BOGOTA
015 D010713 COLOMBIA
015 E040713 X
015 A000714 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000714 S
015 C010714 PRAHA
015 D010714 CZECH REPUBLIC
015 E040714 X
015 A000715 DEN DANSKE BANK
015 B000715 S
015 C010715 COPENHAGEN
015 D010715 DENMARK
015 E040715 X
015 A000716 CITIBANK, N.A.
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015 C010716 QUITO
015 D010716 ECUADOR
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015 A000717 CITIBANK, N.A.-EGYPT BRANCH
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015 C010717 CAIRO
015 D010717 EGYPT
015 E040717 X
015 A000718 MERITA BANK LTD.
015 B000718 S
015 C010718 HELSINKI
015 D010718 FINLAND
015 E040718 X
015 A000719 BANQUE PARIBAS
015 B000719 S
015 C010719 PARIS
015 D010719 FRANCE
015 E040719 X
015 A000720 CREDIT COMMERCIAL DE FRANCE
015 B000720 S
015 C010720 PARIS
015 D010720 FRANCE
015 E040720 X
015 A000721 DRESDNER BANK A.G.
015 B000721 S
015 C010721 FRANKFURT
015 D010721 GERMANY
015 E040721 X
015 A000722 MERCHANT BANK LTD.
<PAGE> PAGE 81
015 B000722 S
015 C010722 ACCRA
015 D010722 GHANA
015 E040722 X
015 A000723 NATIONAL BANK OF GREECE S.A.
015 B000723 S
015 C010723 ATHENS
015 D010723 GREECE
015 E040723 X
015 A000724 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000724 S
015 C010724 HONG KONG
015 D010724 HONG KONG
015 E040724 X
015 A000725 CITIBANK BUDAPEST RT.
015 B000725 S
015 C010725 BUDAPEST
015 D010725 HUNGARY
015 E040725 X
015 A000726 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000726 S
015 C010726 MUMBAI
015 D010726 INDIA
015 E040726 X
015 A000727 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000727 S
015 C010727 JAKARTA
015 D010727 INDONESIA
015 E040727 X
015 A000728 ALLIED IRISH BANKS, PLC
015 B000728 S
015 C010728 DUBLIN
015 D010728 IRELAND
015 E040728 X
015 A000729 BANK LEUMI LE-ISRAEL B.M.
015 B000729 S
015 C010729 TEL AVIV
015 D010729 ISRAEL
015 E040729 X
015 A000730 BANCA COMMERCIALE ITALIANA
015 B000730 S
015 C010730 MILAN
015 D010730 ITALY
015 E040730 X
015 A000731 BANQUE PARIBAS
015 B000731 S
015 C010731 MILAN
015 D010731 ITALY
015 E040731 X
015 A000732 JASDEC
015 B000732 S
<PAGE> PAGE 82
015 C010732 TOKYO
015 D010732 JAPAN
015 E040732 X
015 A000733 BANK OF TOKYO MITSUBISHI
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015 C010733 TOKYO
015 D010733 JAPAN
015 E040733 X
015 A000734 THE BRITISH BANK OF THE MIDDLE EAST
015 B000734 S
015 C010734 AMMAN
015 D010734 JORDAN
015 E040734 X
015 A000735 STANBIC BANK KENYA LTD.
015 B000735 S
015 C010735 NAIROBI
015 D010735 KENYA
015 E040735 X
015 A000736 CEDEL
015 B000736 S
015 C010736 LUXEMBOURG CITY
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015 E040736 X
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015 B000737 S
015 C010737 LUXEMBOURG CITY
015 D010737 LUXEMBOURG
015 E040737 X
015 A000738 THE HONGKONG BANK MALAYSIA BERHAD
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015 C010738 KUALA LUMPUR
015 D010738 MALAYSIA
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015 D010739 MEXICO
015 E040739 X
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015 B000740 S
015 C010740 CASABLANCA
015 D010740 MOROCCO
015 E040740 X
015 A000741 STANBIC BANK NAMIBIA LTD.
015 B000741 S
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015 D010741 NAMIBIA
015 E040741 X
015 A000742 KAS-ASSOCIATIE NV
015 B000742 S
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<PAGE> PAGE 83
015 D010742 NETHERLANDS
015 E040742 X
015 A000743 MEESPIERSON NV
015 B000743 S
015 C010743 AMSTERDAM
015 D010743 NETHERLANDS
015 E040743 X
015 A000744 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B000744 S
015 C010744 WELLINGTON
015 D010744 NEW ZEALAND
015 E040744 X
015 A000745 STANBIC MERCHANT BANK NIGERIA LTD.
015 B000745 S
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015 D010745 NIGERIA
015 E040745 X
015 A000746 DEN NORSKE BANK ASA
015 B000746 S
015 C010746 OSLO
015 D010746 NORWAY
015 E040746 X
015 A000747 STANDARD CHARTERED BANK
015 B000747 S
015 C010747 KARACHI
015 D010747 PAKISTAN
015 E040747 X
015 A000748 CITIBANK, N.A.
015 B000748 S
015 C010748 LIMA
015 D010748 PERU
015 E040748 X
015 A000749 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000749 S
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015 D010749 PHILIPPINES
015 E040749 X
015 A000750 BANK HANDLOWY W. WARSZAWIE S.A.
015 B000750 S
015 C010750 WARSAW
015 D010750 POLAND
015 E040750 X
015 A000751 BANCO COMERCIAL PORTUGUES, S.A.
015 B000751 S
015 C010751 LISBON
015 D010751 PORTUGAL
015 E040751 X
015 A000752 UNITED OVERSEAS BANK LTD.
015 B000752 S
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015 D010752 SINGAPORE
<PAGE> PAGE 84
015 E040752 X
015 A000753 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000753 S
015 C010753 SINGAPORE
015 D010753 SINGAPORE
015 E040753 X
015 A000754 CESKOSLOVENSKA OBCHODNA BANKA AS
015 B000754 S
015 C010754 BRATISLAVA
015 D010754 SLOVAK REPUBLIC
015 E040754 X
015 A000755 STANDARD CORPORATE AND MERCHANT BANK
015 B000755 S
015 C010755 JOHANNESBURG
015 D010755 SOUTH AFRICA
015 E040755 X
015 A000756 SEOULBANK
015 B000756 S
015 C010756 SEOUL
015 D010756 SOUTH KOREA
015 E040756 X
015 A000757 BANCO BILBAO VIZCAYA
015 B000757 S
015 C010757 MADRID
015 D010757 SPAIN
015 E040757 X
015 A000758 STANDARD CHARTERED BANK
015 B000758 S
015 C010758 COLOMBO
015 D010758 SRI LANKA
015 E040758 X
015 A000759 STANBIC BANK OF SWAZILAND LTD.
015 B000759 S
015 C010759 MBABANE
015 D010759 SWAZILAND
015 E040759 X
015 A000760 SKANDINAVISKA ENSKILDA BANKEN
015 B000760 S
015 C010760 STOCKHOLM
015 D010760 SWEDEN
015 E040760 X
015 A000761 UNION BANK OF SWITZERLAND
015 B000761 S
015 C010761 ZURICH
015 D010761 SWITZERLAND
015 E040761 X
015 A000762 BANK LEU LTD.
015 B000762 S
015 C010762 ZURICH
015 D010762 SWITZERLAND
015 E040762 X
<PAGE> PAGE 85
015 A000763 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000763 S
015 C010763 TAIPEI
015 D010763 TAIWAN
015 E040763 X
015 A000764 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B000764 S
015 C010764 BANGKOK
015 D010764 THAILAND
015 E040764 X
015 A000765 BANGKOK BANK PUBLIC COMPANY LTD.
015 B000765 S
015 C010765 BANGKOK
015 D010765 THAILAND
015 E040765 X
015 A000766 OSMANLI BANKASI A.S.
015 B000766 S
015 C010766 ISTANBUL
015 D010766 TURKEY
015 E040766 X
015 A000767 THE BANK OF NEW YORK
015 B000767 S
015 C010767 LONDON
015 D010767 UNITED KINGDOM
015 E040767 X
015 A000768 FIRST CHICAGO CLEARING CENTRE
015 B000768 S
015 C010768 LONDON
015 D010768 UNITED KINGDOM
015 E040768 X
015 A000769 THE FIRST NATIONAL BANK OF BOSTON
015 B000769 S
015 C010769 MONTEVIDEO
015 D010769 URUGUAY
015 E040769 X
015 A000770 CITIBANK, N.A.
015 B000770 S
015 C010770 CARACAS
015 D010770 VENEZUELA
015 E040770 X
015 A000771 STANBIC BANK ZAMBIA LTD.
015 B000771 S
015 C010771 LUSAKA
015 D010771 ZAMBIA
015 E040771 X
015 A000772 STANBIC BANK ZIMBABWE LTD.
015 B000772 S
015 C010772 HARARE
015 D010772 ZIMBABWE
015 E040772 X
015 A000773 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
<PAGE> PAGE 86
015 B000773 S
015 C010773 MAKATI CITY
015 D010773 PHILIPPINES
015 E040773 X
015 A000774 DELETE
015 A000775 DELETE
015 A000776 DELETE
015 A000777 DELETE
015 A000778 DELETE
015 A000779 DELETE
015 A000780 DELETE
015 A000781 DELETE
015 A000782 DELETE
015 A000783 DELETE
015 A000784 DELETE
015 A000785 DELETE
015 A000786 DELETE
015 A000787 DELETE
015 A000788 DELETE
015 A000789 DELETE
015 A000790 DELETE
015 A000791 DELETE
015 A000792 DELETE
015 A000793 DELETE
015 A000794 DELETE
015 A000795 DELETE
015 A000796 DELETE
015 A000797 DELETE
015 A000798 DELETE
024 000700 N
025 D000701 0
025 D000702 0
025 D000703 0
025 D000704 0
025 D000705 0
025 D000706 0
025 D000707 0
025 D000708 0
028 A010700 1741
028 A020700 0
028 A030700 0
028 A040700 5806
028 B010700 1240
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028 B030700 0
028 B040700 5171
028 C010700 1128
028 C020700 0
028 C030700 0
028 C040700 5073
028 D010700 864
<PAGE> PAGE 87
028 D020700 0
028 D030700 0
028 D040700 5447
028 E010700 1208
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028 E030700 0
028 E040700 4487
028 F010700 723
028 F020700 0
028 F030700 0
028 F040700 4342
028 G010700 6904
028 G020700 0
028 G030700 0
028 G040700 30326
028 H000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.000
048 A010700 100000
048 A020700 0.625
048 B010700 150000
048 B020700 0.500
048 C010700 9750000
048 C020700 0.450
048 D010700 2500000
048 D020700 0.440
048 E010700 2500000
048 E020700 0.420
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
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
054 A000700 Y
054 B000700 Y
054 C000700 Y
054 D000700 N
<PAGE> PAGE 88
054 E000700 N
054 F000700 N
054 G000700 Y
054 H000700 Y
054 I000700 N
054 J000700 Y
054 K000700 N
054 L000700 Y
054 M000700 Y
054 N000700 N
054 O000700 N
055 A000700 N
055 B000700 N
056 000700 Y
057 000700 N
058 A000700 Y
058 B000700 Y
058 C000700 Y
058 D000700 Y
058 E000700 N
059 000700 Y
060 A000700 N
060 B000700 N
061 000700 2000
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 0.8
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 2.7
062 M000700 28.7
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 67.3
062 R000700 0.5
063 A000700 0
063 B000700 6.2
064 A000700 N
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 Y
069 000700 N
<PAGE> PAGE 89
070 A010700 Y
070 A020700 Y
070 B010700 Y
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
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 N
070 O010700 N
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 335843
071 B000700 352329
071 C000700 184922
071 D000700 182
072 A000700 12
072 B000700 15431
072 C000700 5
072 D000700 0
072 E000700 0
072 F000700 1134
072 G000700 0
072 H000700 0
072 I000700 0
072 J000700 67
072 K000700 20
<PAGE> PAGE 90
072 L000700 15
072 M000700 1
072 N000700 3
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 5
072 S000700 1
072 T000700 0
072 U000700 0
072 V000700 0
072 W000700 3
072 X000700 1249
072 Y000700 0
072 Z000700 14187
072AA000700 7083
072BB000700 7312
072CC010700 0
072CC020700 9239
072DD010700 14522
072DD020700 0
072EE000700 0
073 A010700 0.9650
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 0
074 B000700 1429
074 C000700 80
074 D000700 177626
074 E000700 0
074 F000700 0
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 11264
074 K000700 0
074 L000700 5127
074 M000700 1213
074 N000700 196739
074 O000700 11238
074 P000700 87
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 398
074 S000700 0
074 T000700 185016
074 U010700 14265
074 U020700 0
<PAGE> PAGE 91
074 V010700 12.97
074 V020700 0.00
074 W000700 0.0000
074 X000700 3
074 Y000700 0
075 A000700 0
075 B000700 201722
076 000700 0.00
015 A000801 BANK OF NEW YORK
015 B000801 C
015 C010801 NEW YORK
015 C020801 NY
015 C030801 10286
015 E010801 X
015 A000802 THE BANK OF BOSTON
015 B000802 S
015 C010802 BUENOS AIRES
015 D010802 ARGENTINA
015 E040802 X
015 A000803 AUSTRALIA AND NEW ZEALAND BANKING CORP. 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 PLC
015 B000805 S
015 C010805 DHAKA
015 D010805 BANGLADESH
015 E040805 X
015 A000806 BANQUE BRUXELLES LAMBERT
015 B000806 S
015 C010806 BRUSSELS
015 D010806 BELGIUM
015 E040806 X
015 A000807 STANBIC BANK BOTSWANA LIMITED
015 B000807 S
015 C010807 GABORONE
015 D010807 BOTSWANA
015 E040807 X
015 A000808 THE FIRST NATIONAL BANK OF BOSTON
015 B000808 S
015 C010808 SAO PAULO
015 D010808 BRAZIL
015 E040808 X
015 A000809 ROYAL BANK OF CANADA
015 B000809 S
<PAGE> PAGE 92
015 C010809 MONTREAL
015 D010809 CANADA
015 E040809 X
015 A000810 THE FIRST NATIONAL BANK OF BOSTON
015 B000810 S
015 C010810 SANTIAGO
015 D010810 CHILE
015 E040810 X
015 A000811 BANCO DE CHILE
015 B000811 S
015 C010811 SANTIAGO
015 D010811 CHILE
015 E040811 X
015 A000812 THE STANDARD CHARTERED BANK, HONG KONG
015 B000812 S
015 C010812 HONG KONG
015 D010812 CHINA
015 E040812 X
015 A000813 CTBANK, NA VIA CITITRUST CLMBIA SA SOC. FIDU.
015 B000813 S
015 C010813 BOGOTA
015 D010813 COLOMBIA
015 E040813 X
015 A000814 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000814 S
015 C010814 PRAGUE
015 D010814 CZECH REPUBLIC
015 E040814 X
015 A000815 DEN DANSKE BANK
015 B000815 S
015 C010815 COPENHAGEN
015 D010815 DENMARK
015 E040815 X
015 A000816 CITIBANK, N.A.
015 B000816 S
015 C010816 QUITO
015 D010816 ECUADOR
015 E040816 X
015 A000817 CITIBANK, N.A.
015 B000817 S
015 C010817 CAIRO
015 D010817 EGYPT
015 E040817 X
015 A000818 MERITA BANK LTD.
015 B000818 S
015 C010818 HELSINKI
015 D010818 FINLAND
015 E040818 X
015 A000819 BANQUE PARIBAS
015 B000819 S
015 C010819 PARIS
<PAGE> PAGE 93
015 D010819 FRANCE
015 E040819 X
015 A000820 CREDIT COMMERCIAL DE FRANCE
015 B000820 S
015 C010820 PARIS
015 D010820 FRANCE
015 E040820 X
015 A000821 DRESDNER BANK A.G.
015 B000821 S
015 C010821 FRANKFURT
015 D010821 GERMANY
015 E040821 X
015 A000822 MERCHANT BANK LIMITED
015 B000822 S
015 C010822 ACCRA
015 D010822 GHANA
015 E040822 X
015 A000823 NATIONAL BANK OF GREECE
015 B000823 S
015 C010823 ATHENS
015 D010823 GREECE
015 E040823 X
015 A000824 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000824 S
015 C010824 HONG KONG
015 D010824 HONG KONG
015 E040824 X
015 A000825 CITIBANK BUDAPEST RT.
015 B000825 S
015 C010825 BUDAPEST
015 D010825 HUNGARY
015 E040825 X
015 A000826 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000826 S
015 C010826 MUMBAI
015 D010826 INDIA
015 E040826 X
015 A000827 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000827 S
015 C010827 JAKARTA
015 D010827 INDONESIA
015 E040827 X
015 A000828 ALLIED IRISH BANKS, PLC
015 B000828 S
015 C010828 DUBLIN
015 D010828 IRELAND
015 E040828 X
015 A000829 BANK LEUMI LE-ISRAEL, B.M.
015 B000829 S
015 C010829 TEL AVIV
015 D010829 ISRAEL
<PAGE> PAGE 94
015 E040829 X
015 A000830 BANCA COMMERCIALE ITALIANA
015 B000830 S
015 C010830 MILAN
015 D010830 ITALY
015 E040830 X
015 A000831 BANQUE PARIBAS
015 B000831 S
015 C010831 MILAN
015 D010831 ITALY
015 E040831 X
015 A000832 JASDEC
015 B000832 S
015 C010832 TOKYO
015 D010832 JAPAN
015 E040832 X
015 A000833 BANK OF TOKYO MITSUBISHI
015 B000833 S
015 C010833 TOKYO
015 D010833 JAPAN
015 E040833 X
015 A000834 THE BRITISH BANK OF THE MIDDLE EAST
015 B000834 S
015 C010834 AMMAN
015 D010834 JORDAN
015 E040834 X
015 A000835 STANBIC BANK KENYA LIMITED
015 B000835 S
015 C010835 NAIROBI
015 D010835 KENYA
015 E040835 X
015 A000836 CEDEL
015 B000836 S
015 C010836 LUXEMBOURG CITY
015 D010836 LUXEMBOURG
015 E040836 X
015 A000837 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000837 S
015 C010837 LUXEMBOURG CITY
015 D010837 LUXEMBOURG
015 E040837 X
015 A000838 THE HONGKONG BANK MALAYSIA BERHAD
015 B000838 S
015 C010838 KUALA LUMPUR
015 D010838 MALAYSIA
015 E040838 X
015 A000839 BANCO NACIONAL DE MEXICO
015 B000839 S
015 C010839 MEXICO CITY
015 D010839 MEXICO
015 E040839 X
<PAGE> PAGE 95
015 A000840 BANQUE COMMERCIALE DU MAROC
015 B000840 S
015 C010840 CASABLANCA
015 D010840 MOROCCO
015 E040840 X
015 A000841 STANBIC BANK NAMIBIA LIMITED
015 B000841 S
015 C010841 WINDHOEK
015 D010841 NAMIBIA
015 E040841 X
015 A000842 KAS-ASSOCIATIE NV
015 B000842 S
015 C010842 AMSTERDAM
015 D010842 NETHERLANDS
015 E040842 X
015 A000843 MEESPIERSON NV
015 B000843 S
015 C010843 AMSTERDAM
015 D010843 NETHERLANDS
015 E040843 X
015 A000844 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B000844 S
015 C010844 WELLINGTON
015 D010844 NEW ZEALAND
015 E040844 X
015 A000845 STANBIC MERCHANT BANK NIGERIA LIMITED
015 B000845 S
015 C010845 LAGOS
015 D010845 NIGERIA
015 E040845 X
015 A000846 DEN NORSKE BANK
015 B000846 S
015 C010846 OSLO
015 D010846 NORWAY
015 E040846 X
015 A000847 STANDARD CHARTERED BANK
015 B000847 S
015 C010847 KARACHI
015 D010847 PAKISTAN
015 E040847 X
015 A000848 CITIBANK, N.A.
015 B000848 S
015 C010848 LIMA
015 D010848 PERU
015 E040848 X
015 A000849 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000849 S
015 C010849 MANILA
015 D010849 PHILIPPINES
015 E040849 X
015 A000850 BANK HANDLOWY W. WARZAWIE, S.A.
<PAGE> PAGE 96
015 B000850 S
015 C010850 WARSAW
015 D010850 POLAND
015 E040850 X
015 A000851 BANCO COMERCIAL PORTUGUES
015 B000851 S
015 C010851 LISBON
015 D010851 PORTUGAL
015 E040851 X
015 A000852 UNITED OVERSEAS BANK LIMITED
015 B000852 S
015 C010852 SINGAPORE
015 D010852 SINGAPORE
015 E040852 X
015 A000853 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000853 S
015 C010853 SINGAPORE
015 D010853 SINGAPORE
015 E040853 X
015 A000854 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000854 S
015 C010854 BRATISLAVA
015 D010854 SLOVAK REPUBLIC
015 E040854 X
015 A000855 STANDARD CORPORATE AND MERCHANT BANK
015 B000855 S
015 C010855 JOHANNESBURG
015 D010855 SOUTH AFRICA
015 E040855 X
015 A000856 SEOULBANK
015 B000856 S
015 C010856 SEOUL
015 D010856 SOUTH KOREA
015 E040856 X
015 A000857 BANCO BILBAO VIZCAYA
015 B000857 S
015 C010857 MADRID
015 D010857 SPAIN
015 E040857 X
015 A000858 STANDARD CHARTERED BANK
015 B000858 S
015 C010858 COLOMBO
015 D010858 SRI LANKA
015 E040858 X
015 A000859 STANBIC BANK SWAZILAND LTD.
015 B000859 S
015 C010859 MBABANE
015 D010859 SWAZILAND
015 E040859 X
015 A000860 SKANDINAVISKA ENSKILDA BANKEN
015 B000860 S
<PAGE> PAGE 97
015 C010860 STOCKHOLM
015 D010860 SWEDEN
015 E040860 X
015 A000861 UNION BANK OF SWITZERLAND
015 B000861 S
015 C010861 ZURICH
015 D010861 SWITZERLAND
015 E040861 X
015 A000862 BANK LEU LTD.
015 B000862 S
015 C010862 ZURICH
015 D010862 SWITZERLAND
015 E040862 X
015 A000863 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000863 S
015 C010863 TAIPEI
015 D010863 TAIWAN
015 E040863 X
015 A000864 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B000864 S
015 C010864 BANGKOK
015 D010864 THAILAND
015 E040864 X
015 A000865 BANGKOK BANK PUBLIC COMPANY LTD.
015 B000865 S
015 C010865 BANGKOK
015 D010865 THAILAND
015 E040865 X
015 A000866 CITIBANK, N.A.
015 B000866 S
015 C010866 ISTANBUL
015 D010866 TURKEY
015 E040866 X
015 A000867 THE BANK OF NEW YORK
015 B000867 S
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015 D010867 UNITED KINGDOM
015 E040867 X
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015 B000868 S
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015 D010868 UNITED KINGDOM
015 E040868 X
015 A000869 THE FIRST NATIONAL BANK OF BOSTON
015 B000869 S
015 C010869 MONTEVIDEO
015 D010869 URUGUAY
015 E040869 X
015 A000870 CITIBANK, N.A.
015 B000870 S
015 C010870 CARACAS
<PAGE> PAGE 98
015 D010870 VENEZUELA
015 E040870 X
015 A000871 STANBIC BANK ZAMBIA LIMITED
015 B000871 S
015 C010871 LUSAKA
015 D010871 ZAMBIA
015 E040871 X
015 A000872 STANBIC BANK ZIMBABWE LIMITED
015 B000872 S
015 C010872 HARARE
015 D010872 ZIMBABWE
015 E040872 X
024 000800 N
025 D000801 0
025 D000802 0
025 D000803 0
025 D000804 0
025 D000805 0
025 D000806 0
025 D000807 0
025 D000808 0
045 000800 Y
046 000800 N
047 000800 Y
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048 B020800 0.500
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048 E020800 0.420
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048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 15000000
048 K020800 0.400
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050 000800 N
051 000800 N
052 000800 N
<PAGE> PAGE 99
053 A000800 N
054 A000800 Y
054 B000800 Y
054 C000800 Y
054 D000800 N
054 E000800 N
054 F000800 N
054 G000800 Y
054 H000800 Y
054 I000800 N
054 J000800 Y
054 K000800 N
054 L000800 Y
054 M000800 Y
054 N000800 N
054 O000800 N
055 A000800 N
055 B000800 N
056 000800 N
057 000800 N
058 A000800 Y
058 B000800 Y
058 C000800 Y
058 D000800 Y
058 E000800 N
059 000800 Y
060 A000800 Y
060 B000800 Y
061 000800 2000
062 A000800 Y
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
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062 O000800 0.0
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
063 A000800 0
063 B000800 0.0
064 A000800 N
064 B000800 N
<PAGE> PAGE 100
066 A000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
070 A010800 Y
070 A020800 Y
070 B010800 Y
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 N
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 Y
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 N
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 Y
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 0
071 B000800 0
071 C000800 0
071 D000800 0
072 A000800 12
072 B000800 0
072 C000800 0
072 D000800 0
072 E000800 0
072 F000800 0
<PAGE> PAGE 101
072 G000800 0
072 H000800 0
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<PAGE> PAGE 102
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008 A000901 FRANKLIN ADVISERS, INC
008 B000901 A
008 C000901 801-26292
008 D010901 SAN MATEO
008 D020901 CA
008 D030901 94404
008 D040901 1585
015 A000901 BANK OF NEW YORK
015 B000901 C
015 C010901 NEW YORK
015 C020901 NY
015 C030901 10286
015 E010901 X
015 A000902 THE BANK OF BOSTON
015 B000902 S
015 C010902 BUENOS AIRES
015 D010902 ARGENTINA
015 E040902 X
015 A000903 NATIONAL AUSTRALIA BANK LTD.
015 B000903 S
015 C010903 MELBOURNE
015 D010903 AUSTRALIA
015 E040903 X
015 A000904 CREDITANSTALT BANKVEREIN
015 B000904 S
015 C010904 VIENNA
015 D010904 AUSTRIA
015 E040904 X
015 A000905 STANDARD CHARTERED BANK PLC
015 B000905 S
015 C010905 DHAKA
015 D010905 BANGLADESH
015 E040905 X
015 A000906 BANQUE BRUXELLES LAMBERT
015 B000906 S
015 C010906 BRUSSELS
015 D010906 BELGIUM
015 E040906 X
<PAGE> PAGE 103
015 A000907 STANBIC BANK BOTSWANA LTD.
015 B000907 S
015 C010907 GABARONE
015 D010907 BOTSWANA
015 E040907 X
015 A000908 THE FIRST NATIONAL BANK OF BOSTON
015 B000908 S
015 C010908 SAO PAULO
015 D010908 BRAZIL
015 E040908 X
015 A000909 ROYAL BANK OF CANADA
015 B000909 S
015 C010909 MONTREAL
015 D010909 CANADA
015 E040909 X
015 A000910 THE FIRST NATIONAL BANK OF BOSTON
015 B000910 S
015 C010910 SANTIAGO
015 D010910 CHILE
015 E040910 X
015 A000911 BANCO DE CHILI
015 B000911 S
015 C010911 SANTIAGO
015 D010911 CHILE
015 E040911 X
015 A000912 THE STANDARD CHARTERED BANK, HONG KONG
015 B000912 S
015 C010912 HONG KONG
015 D010912 CHINA
015 E040912 X
015 A000913 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B000913 S
015 C010913 BOGOTA
015 D010913 COLOMBIA
015 E040913 X
015 A000914 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000914 S
015 C010914 PRAHA
015 D010914 CZECH REPUBLIC
015 E040914 X
015 A000915 DEN DANSKE BANK
015 B000915 S
015 C010915 COPENHAGEN
015 D010915 DENMARK
015 E040915 X
015 A000916 CITIBANK, N.A.
015 B000916 S
015 C010916 QUITO
015 D010916 ECUADOR
015 E040916 X
015 A000917 CITIBANK, N.A.-EGYPT BRANCH
<PAGE> PAGE 104
015 B000917 S
015 C010917 CAIRO
015 D010917 EGYPT
015 E040917 X
015 A000918 MERITA BANK LTD.
015 B000918 S
015 C010918 HELSINKI
015 D010918 FINLAND
015 E040918 X
015 A000919 BANQUE PARIBAS
015 B000919 S
015 C010919 PARIS
015 D010919 FRANCE
015 E040919 X
015 A000920 CREDIT COMMERCIAL DE FRANCE
015 B000920 S
015 C010920 PARIS
015 D010920 FRANCE
015 E040920 X
015 A000921 DRESDNER BANK A.G.
015 B000921 S
015 C010921 FRANKFURT
015 D010921 GERMANY
015 E040921 X
015 A000922 MERCHANT BANK LTD.
015 B000922 S
015 C010922 ACCRA
015 D010922 GHANA
015 E040922 X
015 A000923 NATIONAL BANK OF GREECE S.A.
015 B000923 S
015 C010923 ATHENS
015 D010923 GREECE
015 E040923 X
015 A000924 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000924 S
015 C010924 HONG KONG
015 D010924 HONG KONG
015 E040924 X
015 A000925 CITIBANK BUDAPEST RT.
015 B000925 S
015 C010925 BUDAPEST
015 D010925 HUNGARY
015 E040925 X
015 A000926 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000926 S
015 C010926 MUMBAI
015 D010926 INDIA
015 E040926 X
015 A000927 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000927 S
<PAGE> PAGE 105
015 C010927 JAKARTA
015 D010927 INDONESIA
015 E040927 X
015 A000928 ALLIED IRISH BANKS, PLC
015 B000928 S
015 C010928 DUBLIN
015 D010928 IRELAND
015 E040928 X
015 A000929 BANK LEUMI LE-ISRAEL B.M.
015 B000929 S
015 C010929 TEL AVIV
015 D010929 ISRAEL
015 E040929 X
015 A000930 BANCA COMMERCIALE ITALIANA
015 B000930 S
015 C010930 MILAN
015 D010930 ITALY
015 E040930 X
015 A000931 BANQUE PARIBAS
015 B000931 S
015 C010931 MILAN
015 D010931 ITALY
015 E040931 X
015 A000932 JASDEC
015 B000932 S
015 C010932 TOKYO
015 D010932 JAPAN
015 E040932 X
015 A000933 BANK OF TOKYO MITSUBISHI
015 B000933 S
015 C010933 TOKYO
015 D010933 JAPAN
015 E040933 X
015 A000934 THE BRITISH BANK OF THE MIDDLE EAST
015 B000934 S
015 C010934 AMMAN
015 D010934 JORDAN
015 E040934 X
015 A000935 STANBIC BANK KENYA LTD.
015 B000935 S
015 C010935 NAIROBI
015 D010935 KENYA
015 E040935 X
015 A000936 CEDEL
015 B000936 S
015 C010936 LUXEMBOURG CITY
015 D010936 LUXEMBOURG
015 E040936 X
015 A000937 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000937 S
015 C010937 LUXEMBOURG CITY
<PAGE> PAGE 106
015 D010937 LUXEMBOURG
015 E040937 X
015 A000938 THE HONGKONG BANK MALAYSIA BERHAD
015 B000938 S
015 C010938 KUALA LUMPUR
015 D010938 MALAYSIA
015 E040938 X
015 A000939 BANCO NACIONAL DE MEXICO
015 B000939 S
015 C010939 MEXICO CITY
015 D010939 MEXICO
015 E040939 X
015 A000940 BANQUE COMMERCIALE DU MAROC
015 B000940 S
015 C010940 CASABLANCA
015 D010940 MOROCCO
015 E040940 X
015 A000941 STANBIC BANK NAMIBIA LTD.
015 B000941 S
015 C010941 WINDHOEK
015 D010941 NAMIBIA
015 E040941 X
015 A000942 KAS-ASSOCIATIE NV
015 B000942 S
015 C010942 AMSTERDAM
015 D010942 NETHERLANDS
015 E040942 X
015 A000943 MEESPIERSON NV
015 B000943 S
015 C010943 AMSTERDAM
015 D010943 NETHERLANDS
015 E040943 X
015 A000944 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B000944 S
015 C010944 WELLINGTON
015 D010944 NEW ZEALAND
015 E040944 X
015 A000945 STANBIC MERCHANT BANK NIGERIA LTD.
015 B000945 S
015 C010945 LAGOS
015 D010945 NIGERIA
015 E040945 X
015 A000946 DEN NORSKE BANK ASA
015 B000946 S
015 C010946 OSLO
015 D010946 NORWAY
015 E040946 X
015 A000947 STANDARD CHARTERED BANK
015 B000947 S
015 C010947 KARACHI
015 D010947 PAKISTAN
<PAGE> PAGE 107
015 E040947 X
015 A000948 CITIBANK, N.A.
015 B000948 S
015 C010948 LIMA
015 D010948 PERU
015 E040948 X
015 A000949 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000949 S
015 C010949 PASIG CITY
015 D010949 PHILIPPINES
015 E040949 X
015 A000950 BANK HANDLOWY W. WARSZAWIE S.A.
015 B000950 S
015 C010950 WARSAW
015 D010950 POLAND
015 E040950 X
015 A000951 BANCO COMERCIAL PORTUGUES, S.A.
015 B000951 S
015 C010951 LISBON
015 D010951 PORTUGAL
015 E040951 X
015 A000952 UNITED OVERSEAS BANK LTD.
015 B000952 S
015 C010952 SINGAPORE
015 D010952 SINGAPORE
015 E040952 X
015 A000953 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000953 S
015 C010953 SINGAPORE
015 D010953 SINGAPORE
015 E040953 X
015 A000954 CESKOSLOVENSKA OBCHODNA BANKA AS
015 B000954 S
015 C010954 BRATISLAVA
015 D010954 SLOVAK REPUBLIC
015 E040954 X
015 A000955 STANDARD CORPORATE AND MERCHANT BANK
015 B000955 S
015 C010955 JOHANNESBURG
015 D010955 SOUTH AFRICA
015 E040955 X
015 A000956 SEOULBANK
015 B000956 S
015 C010956 SEOUL
015 D010956 SOUTH KOREA
015 E040956 X
015 A000957 BANCO BILBAO VIZCAYA
015 B000957 S
015 C010957 MADRID
015 D010957 SPAIN
015 E040957 X
<PAGE> PAGE 108
015 A000958 STANDARD CHARTERED BANK
015 B000958 S
015 C010958 COLOMBO
015 D010958 SRI LANKA
015 E040958 X
015 A000959 STANBIC BANK OF SWAZILAND LTD.
015 B000959 S
015 C010959 MBABANE
015 D010959 SWAZILAND
015 E040959 X
015 A000960 SKANDINAVISKA ENSKILDA BANKEN
015 B000960 S
015 C010960 STOCKHOLM
015 D010960 SWEDEN
015 E040960 X
015 A000961 UNION BANK OF SWITZERLAND
015 B000961 S
015 C010961 ZURICH
015 D010961 SWITZERLAND
015 E040961 X
015 A000962 BANK LEU LTD.
015 B000962 S
015 C010962 ZURICH
015 D010962 SWITZERLAND
015 E040962 X
015 A000963 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000963 S
015 C010963 TAIPEI
015 D010963 TAIWAN
015 E040963 X
015 A000964 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B000964 S
015 C010964 BANGKOK
015 D010964 THAILAND
015 E040964 X
015 A000965 BANGKOK BANK PUBLIC COMPANY LTD.
015 B000965 S
015 C010965 BANGKOK
015 D010965 THAILAND
015 E040965 X
015 A000966 OSMANLI BANKASI A.S.
015 B000966 S
015 C010966 ISTANBUL
015 D010966 TURKEY
015 E040966 X
015 A000967 THE BANK OF NEW YORK
015 B000967 S
015 C010967 LONDON
015 D010967 UNITED KINGDOM
015 E040967 X
015 A000968 FIRST CHICAGO CLEARING CENTRE
<PAGE> PAGE 109
015 B000968 S
015 C010968 LONDON
015 D010968 UNITED KINGDOM
015 E040968 X
015 A000969 THE FIRST NATIONAL BANK OF BOSTON
015 B000969 S
015 C010969 MONTEVIDEO
015 D010969 URUGUAY
015 E040969 X
015 A000970 CITIBANK, N.A.
015 B000970 S
015 C010970 CARACAS
015 D010970 VENEZUELA
015 E040970 X
015 A000971 STANBIC BANK ZAMBIA LTD.
015 B000971 S
015 C010971 LUSAKA
015 D010971 ZAMBIA
015 E040971 X
015 A000972 STANBIC BANK ZIMBABWE LTD.
015 B000972 S
015 C010972 HARARE
015 D010972 ZIMBABWE
015 E040972 X
015 A000973 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B000973 S
015 C010973 MAKATI CITY
015 D010973 PHILIPPINES
015 E040973 X
024 000900 N
025 D000901 0
025 D000902 0
025 D000903 0
025 D000904 0
025 D000905 0
025 D000906 0
025 D000907 0
025 D000908 0
028 A010900 10257
028 A020900 0
028 A030900 0
028 A040900 32060
028 B010900 9345
028 B020900 0
028 B030900 0
028 B040900 33864
028 C010900 8097
028 C020900 0
028 C030900 0
028 C040900 22175
028 D010900 14976
<PAGE> PAGE 110
028 D020900 0
028 D030900 0
028 D040900 22937
028 E010900 9691
028 E020900 0
028 E030900 0
028 E040900 20525
028 F010900 15919
028 F020900 0
028 F030900 0
028 F040900 22057
028 G010900 68285
028 G020900 0
028 G030900 0
028 G040900 153618
028 H000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.000
048 A010900 100000
048 A020900 0.625
048 B010900 150000
048 B020900 0.500
048 C010900 9750000
048 C020900 0.450
048 D010900 2500000
048 D020900 0.440
048 E010900 2500000
048 E020900 0.420
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
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
054 A000900 Y
054 B000900 Y
054 C000900 Y
054 D000900 N
<PAGE> PAGE 111
054 E000900 N
054 F000900 N
054 G000900 Y
054 H000900 Y
054 I000900 N
054 J000900 Y
054 K000900 N
054 L000900 Y
054 M000900 Y
054 N000900 N
054 O000900 N
055 A000900 N
055 B000900 N
056 000900 N
057 000900 N
058 A000900 Y
058 B000900 Y
058 C000900 Y
058 D000900 Y
058 E000900 N
059 000900 Y
060 A000900 Y
060 B000900 Y
061 000900 2000
062 A000900 Y
062 B000900 0.0
062 C000900 0.0
062 D000900 3.6
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 9.1
062 N000900 0.0
062 O000900 0.0
062 P000900 27.5
062 Q000900 13.1
062 R000900 45.6
063 A000900 0
063 B000900 10.8
064 A000900 N
064 B000900 N
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
<PAGE> PAGE 112
070 A010900 Y
070 A020900 Y
070 B010900 Y
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 Y
070 K010900 N
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 Y
070 M020900 Y
070 N010900 Y
070 N020900 Y
070 O010900 N
070 O020900 N
070 P010900 Y
070 P020900 Y
070 Q010900 N
070 Q020900 N
070 R010900 Y
070 R020900 N
071 A000900 190118
071 B000900 246716
071 C000900 1294838
071 D000900 15
072 A000900 12
072 B000900 76059
072 C000900 32772
072 D000900 0
072 E000900 0
072 F000900 6349
072 G000900 0
072 H000900 0
072 I000900 0
072 J000900 105
072 K000900 131
<PAGE> PAGE 113
072 L000900 90
072 M000900 8
072 N000900 0
072 O000900 0
072 P000900 0
072 Q000900 0
072 R000900 28
072 S000900 19
072 T000900 0
072 U000900 0
072 V000900 0
072 W000900 19
072 X000900 6749
072 Y000900 0
072 Z000900 102082
072AA000900 40639
072BB000900 16468
072CC010900 88386
072CC020900 0
072DD010900 99614
072DD020900 0
072EE000900 21398
073 A010900 1.3328
073 A020900 0.0000
073 B000900 0.2863
073 C000900 0.0000
074 A000900 143
074 B000900 51200
074 C000900 0
074 D000900 698356
074 E000900 130118
074 F000900 510271
074 G000900 0
074 H000900 0
074 I000900 803
074 J000900 0
074 K000900 0
074 L000900 17835
074 M000900 0
074 N000900 1408726
074 O000900 224
074 P000900 550
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 1165
074 S000900 0
074 T000900 1406787
074 U010900 76595
074 U020900 0
<PAGE> PAGE 114
074 V010900 18.37
074 V020900 0.00
074 W000900 0.0000
074 X000900 3
074 Y000900 11289
075 A000900 0
075 B000900 1355344
076 000900 0.00
008 A001001 FRANKLIN ADVISERS, INC.
008 B001001 A
008 C001001 801-26292
008 D011001 SAN MATEO
008 D021001 CA
008 D031001 94404
008 D041001 1585
015 A001001 BANK OF NEW YORK
015 B001001 C
015 C011001 NEW YORK
015 C021001 NY
015 C031001 10286
015 E011001 X
015 A001002 THE BANK OF BOSTON
015 B001002 S
015 C011002 BUENOS AIRES
015 D011002 ARGENTINA
015 E041002 X
015 A001003 NATIONAL AUSTRALIA BANK LTD.
015 B001003 S
015 C011003 MELBOURNE
015 D011003 AUSTRALIA
015 E041003 X
015 A001004 CREDITANSTALT BANKVEREIN
015 B001004 S
015 C011004 VIENNA
015 D011004 AUSTRIA
015 E041004 X
015 A001005 STANDARD CHARTERED BANK PLC
015 B001005 S
015 C011005 DHAKA
015 D011005 BANGLADESH
015 E041005 X
015 A001006 BANQUE BRUXELLES LAMBERT
015 B001006 S
015 C011006 BRUSSELS
015 D011006 BELGIUM
015 E041006 X
015 A001007 STANBIC BANK BOTSWANA LTD.
015 B001007 S
015 C011007 GABARONE
015 D011007 BOTSWANA
015 E041007 X
<PAGE> PAGE 115
015 A001008 THE FIRST NAIONAL BANK OF BOSTON
015 B001008 S
015 C011008 SAO PAULO
015 D011008 BRAZIL
015 E041008 X
015 A001009 ROYAL BANK OF CANADA
015 B001009 S
015 C011009 MONTREAL
015 D011009 CANADA
015 E041009 X
015 A001010 THE FIRST NATIONAL BANK OF BOSTON
015 B001010 S
015 C011010 SANTIAGO
015 D011010 CHILE
015 E041010 X
015 A001011 BANCO DE CHILE
015 B001011 S
015 C011011 SANTIAGO
015 D011011 CHILE
015 E041011 X
015 A001012 THE STANDARD CHARTERED BANK, HONG KONG
015 B001012 S
015 C011012 HONG KONG
015 D011012 CHINA
015 E041012 X
015 A001013 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B001013 S
015 C011013 BOGOTA
015 D011013 COLOMBIA
015 E041013 X
015 A001014 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001014 S
015 C011014 PRAHA
015 D011014 CZECH REPUBLIC
015 E041014 X
015 A001015 DEN DANSKE BANK
015 B001015 S
015 C011015 COPENHAGEN
015 D011015 DENMARK
015 E041015 X
015 A001016 CITIBANK, N.A.
015 B001016 S
015 C011016 QUITO
015 D011016 ECUADOR
015 E041016 X
015 A001017 CITIBANK, N.A.-EGYPT BRANCH
015 B001017 S
015 C011017 CAIRO
015 D011017 EGYPT
015 E041017 X
015 A001018 MERITA BANK LTD.
<PAGE> PAGE 116
015 B001018 S
015 C011018 HELSINKI
015 D011018 FINLAND
015 E041018 X
015 A001019 BANQUE PARIBAS
015 B001019 S
015 C011019 PARIS
015 D011019 FRANCE
015 E041019 X
015 A001020 CREDIT COMMERCIAL DE FRANCE
015 B001020 S
015 C011020 PARIS
015 D011020 FRANCE
015 E041020 X
015 A001021 DRESDNER BANK A.G.
015 B001021 S
015 C011021 FRANKFURT
015 D011021 GERMANY
015 E041021 X
015 A001022 MERCHANT BANK LTD.
015 B001022 S
015 C011022 ACCRA
015 D011022 GHANA
015 E041022 X
015 A001023 NATIONAL BANK OF GREECE S.A.
015 B001023 S
015 C011023 ATHENS
015 D011023 GREECE
015 E041023 X
015 A001024 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001024 S
015 C011024 HONG KONG
015 D011024 HONG KONG
015 E041024 X
015 A001025 CITIBANK BUDAPEST RT.
015 B001025 S
015 C011025 BUDAPEST
015 D011025 HUNGARY
015 E041025 X
015 A001026 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001026 S
015 C011026 MUMBAI
015 D011026 INDIA
015 E041026 X
015 A001027 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001027 S
015 C011027 JAKARTA
015 D011027 INDONESIA
015 E041027 X
015 A001028 ALLIED IRISH BANKS, PLC
015 B001028 S
<PAGE> PAGE 117
015 C011028 DUBLIN
015 D011028 IRELAND
015 E041028 X
015 A001029 BANK LEUMI LE-ISRAEL B.M.
015 B001029 S
015 C011029 TEL AVIV
015 D011029 ISRAEL
015 E041029 X
015 A001030 BANCA COMMERCIALE ITALIANA
015 B001030 S
015 C011030 MILAN
015 D011030 ITALY
015 E041030 X
015 A001031 BANQUE PARIBAS
015 B001031 S
015 C011031 MILAN
015 D011031 ITALY
015 E041031 X
015 A001032 JASDEC
015 B001032 S
015 C011032 TOKYO
015 D011032 JAPAN
015 E041032 X
015 A001033 BANK OF TOKYO MITSUBISHI
015 B001033 S
015 C011033 TOKYO
015 D011033 JAPAN
015 E041033 X
015 A001034 THE BRITISH BANK OF THE MIDDLE EAST
015 B001034 S
015 C011034 AMMAN
015 D011034 JORDAN
015 E041034 X
015 A001035 STANBIC BANK KENYA LTD.
015 B001035 S
015 C011035 NAIROBI
015 D011035 KENYA
015 E041035 X
015 A001036 CEDEL
015 B001036 S
015 C011036 LUXEMBOURG CITY
015 D011036 LUXEMBOURG
015 E041036 X
015 A001037 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001037 S
015 C011037 LUXEMBOURG CITY
015 D011037 LUXEMBOURG
015 E041037 X
015 A001038 THE HONGKONG BANK MALAYSIA BERHAD
015 B001038 S
015 C011038 KUALA LUMPUR
<PAGE> PAGE 118
015 D011038 MALAYSIA
015 E041038 X
015 A001039 BANCO NACIONAL DE MEXICO
015 B001039 S
015 C011039 MEXICO CITY
015 D011039 MEXICO
015 E041039 X
015 A001040 BANQUE COMMERCIALE DU MAROC
015 B001040 S
015 C011040 CASABLANCA
015 D011040 MOROCCO
015 E041040 X
015 A001041 STANBIC BANK NAMIBIA LTD.
015 B001041 S
015 C011041 WINDHOEK
015 D011041 NAMIBIA
015 E041041 X
015 A001042 KAS-ASSOCIATIE NV
015 B001042 S
015 C011042 AMSTERDAM
015 D011042 NETHERLANDS
015 E041042 X
015 A001043 MEESPIERSON NV
015 B001043 S
015 C011043 AMSTERDAM
015 D011043 NETHERLANDS
015 E041043 X
015 A001044 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B001044 S
015 C011044 WELLINGTON
015 D011044 NEW ZEALAND
015 E041044 X
015 A001045 STANBIC MERCHANT BANK NIGERIA LTD.
015 B001045 S
015 C011045 LAGOS
015 D011045 NIGERIA
015 E041045 X
015 A001046 DEN NORSKE BANK ASA
015 B001046 S
015 C011046 OSLO
015 D011046 NORWAY
015 E041046 X
015 A001047 STANDARD CHARTERED BANK
015 B001047 S
015 C011047 KARACHI
015 D011047 PAKISTAN
015 E041047 X
015 A001048 CITIBANK, N.A.
015 B001048 S
015 C011048 LIMA
015 D011048 PERU
<PAGE> PAGE 119
015 E041048 X
015 A001049 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001049 S
015 C011049 PASIG CITY
015 D011049 PHILIPPINES
015 E041049 X
015 A001050 BANK HANDLOWY W. WARSZAWIE S.A.
015 B001050 S
015 C011050 WARSAW
015 D011050 POLAND
015 E041050 X
015 A001051 BANCO COMERCIAL PORTUGUES, S.A.
015 B001051 S
015 C011051 LISBON
015 D011051 PORTUGAL
015 E041051 X
015 A001052 UNITED OVERSEAS BANK LTD.
015 B001052 S
015 C011052 SINGAPORE
015 D011052 SINGAPORE
015 E041052 X
015 A001053 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B001053 S
015 C011053 SINGAPORE
015 D011053 SINGAPORE
015 E041053 X
015 A001054 CESKOSLOVENSKA OBCHODNA BANKA AS
015 B001054 S
015 C011054 BRATISLAVA
015 D011054 SLOVAK REPUBLIC
015 E041054 X
015 A001055 STANDARD CORPORATE AND MERCHANT BANK
015 B001055 S
015 C011055 JOHANNESBURG
015 D011055 SOUTH AFRICA
015 E041055 X
015 A001056 SEOULBANK
015 B001056 S
015 C011056 SEOUL
015 D011056 SOUTH KOREA
015 E041056 X
015 A001057 BANCO BILBAO VIZCAYA
015 B001057 S
015 C011057 MADRID
015 D011057 SPAIN
015 E041057 X
015 A001058 STANDARD CHARTERED BANK
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015 C011058 COLOMBO
015 D011058 SRI LANKA
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<PAGE> PAGE 120
015 A001059 STANBIC BANK OF SWAZILAND LTD.
015 B001059 S
015 C011059 MBABANE
015 D011059 SWAZILAND
015 E041059 X
015 A001060 SKANDINAVISKA ENSKILDA BANKEN
015 B001060 S
015 C011060 STOCKHOLM
015 D011060 SWEDEN
015 E041060 X
015 A001061 UNION BANK OF SWITZERLAND
015 B001061 S
015 C011061 ZURICH
015 D011061 SWITZERLAND
015 E041061 X
015 A001062 BANK LEU LTD.
015 B001062 S
015 C011062 ZURICH
015 D011062 SWITZERLAND
015 E041062 X
015 A001063 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001063 S
015 C011063 TAIPEI
015 D011063 TAIWAN
015 E041063 X
015 A001064 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B001064 S
015 C011064 BANGKOK
015 D011064 THAILAND
015 E041064 X
015 A001065 BANGKOK BANK PUBLIC COMPANY LTD.
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015 C011065 BANGKOK
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015 E041065 X
015 A001066 OSMANLI BANKASI A.S.
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015 D011066 TURKEY
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015 A001067 THE BANK OF NEW YORK
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015 D011067 UNITED KINGDOM
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015 A001068 FIRST CHICAGO CLEARING CENTRE
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015 C011068 LONDON
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<PAGE> PAGE 121
015 B001069 S
015 C011069 MONTEVIDEO
015 D011069 URUGUAY
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015 A001070 CITIBANK, N.A.
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015 C011070 CARACAS
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015 A001071 STANBIC BANK ZAMBIA LTD.
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015 D011071 ZAMBIA
015 E041071 X
015 A001072 STANBIC BANK ZIMBABWE LTD.
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015 C011072 HARARE
015 D011072 ZIMBABWE
015 E041072 X
015 A001073 THE PHILIPPINE CRETRAL DEPOSITORY, INC.
015 B001073 S
015 C011073 MAKATI CITY
015 D011073 PHILIPPINES
015 E041073 X
024 001000 N
025 D001001 0
025 D001002 0
025 D001003 0
025 D001004 0
025 D001005 0
025 D001006 0
025 D001007 0
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<PAGE> PAGE 122
028 E031000 0
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045 001000 Y
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048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 15000000
048 K021000 0.400
049 001000 N
050 001000 N
051 001000 N
052 001000 N
053 A001000 N
054 A001000 Y
054 B001000 Y
054 C001000 Y
054 D001000 N
054 E001000 N
054 F001000 N
054 G001000 Y
054 H001000 Y
054 I001000 N
<PAGE> PAGE 123
054 J001000 Y
054 K001000 N
054 L001000 Y
054 M001000 Y
054 N001000 N
054 O001000 N
055 A001000 N
055 B001000 N
056 001000 N
057 001000 N
058 A001000 Y
058 B001000 Y
058 C001000 Y
058 D001000 Y
058 E001000 N
059 001000 Y
060 A001000 Y
060 B001000 Y
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062 A001000 Y
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062 R001000 0.0
063 A001000 0
063 B001000 21.6
064 A001000 N
064 B001000 N
066 A001000 N
067 001000 N
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 Y
070 A021000 Y
070 B011000 N
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070 C011000 N
<PAGE> PAGE 124
070 C021000 N
070 D011000 N
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 N
070 F021000 N
070 G011000 N
070 G021000 N
070 H011000 N
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 N
070 K021000 N
070 L011000 N
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 N
070 O021000 N
070 P011000 Y
070 P021000 N
070 Q011000 N
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<PAGE> PAGE 125
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<PAGE> PAGE 126
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015 A001101 DELETE
015 A001102 DELETE
015 A001103 DELETE
015 A001104 DELETE
015 A001105 DELETE
015 A001106 DELETE
015 A001107 DELETE
015 A001108 DELETE
015 A001109 DELETE
015 A001110 DELETE
015 A001111 DELETE
015 A001112 DELETE
015 A001113 DELETE
015 A001114 DELETE
015 A001115 DELETE
015 A001116 DELETE
015 A001117 DELETE
015 A001118 DELETE
015 A001119 DELETE
015 A001120 DELETE
015 A001121 DELETE
015 A001122 DELETE
015 A001123 DELETE
015 A001124 DELETE
015 A001125 DELETE
015 A001126 DELETE
015 A001127 DELETE
015 A001128 DELETE
015 A001129 DELETE
015 A001130 DELETE
015 A001131 DELETE
015 A001132 DELETE
015 A001133 DELETE
015 A001134 DELETE
015 A001135 DELETE
015 A001136 DELETE
015 A001137 DELETE
015 A001138 DELETE
015 A001139 DELETE
015 A001140 DELETE
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015 A001146 DELETE
015 A001147 DELETE
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<PAGE> PAGE 127
015 A001149 DELETE
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045 001100 N
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048 I011100 0
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<PAGE> PAGE 128
048 J021100 0.000
048 K011100 0
048 K021100 0.000
055 A001100 N
055 B001100 N
056 001100 N
057 001100 N
061 001100 0
062 A001100 Y
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062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
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062 H001100 0.0
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062 O001100 0.0
062 P001100 0.0
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062 R001100 0.0
063 A001100 0
063 B001100 0.0
064 A001100 N
064 B001100 N
066 A001100 N
067 001100 N
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 N
070 A021100 N
070 B011100 N
070 B021100 N
070 C011100 N
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
<PAGE> PAGE 129
070 I011100 N
070 I021100 N
070 J011100 N
070 J021100 N
070 K011100 N
070 K021100 N
070 L011100 N
070 L021100 N
070 M011100 N
070 M021100 N
070 N011100 N
070 N021100 N
070 O011100 N
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 0
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<PAGE> PAGE 130
072BB001100 0
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076 001100 0.00
008 A001201 FRANKLIN ADVISERS, INC.
008 B001201 A
008 C001201 801-26292
008 D011201 SAN MATEO
008 D021201 CA
008 D031201 94404
008 D041201 1585
015 A001201 BANK OF NEW YORK
<PAGE> PAGE 131
015 B001201 C
015 C011201 NEW YORK
015 C021201 NY
015 C031201 10286
015 E011201 X
015 A001202 THE BANK OF BOSTON
015 B001202 S
015 C011202 BUENOS AIRES
015 D011202 ARGENTINA
015 E041202 X
015 A001203 NATIONAL AUSTRALIA BANK LTD.
015 B001203 S
015 C011203 MELBOURNE
015 D011203 AUSTRALIA
015 E041203 X
015 A001204 CREDITANSTALT BANKVEREIN
015 B001204 S
015 C011204 VIENNA
015 D011204 AUSTRIA
015 E041204 X
015 A001205 STANDARD CHARTERED BANK PLC
015 B001205 S
015 C011205 DHAKA
015 D011205 BANGLADESH
015 E041205 X
015 A001206 BANQUE BRUXELLES LAMBERT
015 B001206 S
015 C011206 BRUSSELS
015 D011206 BELGIUM
015 E041206 X
015 A001207 STANBIC BANK BOTSWANA LTD.
015 B001207 S
015 C011207 GABARONE
015 D011207 BOTSWANA
015 E041207 X
015 A001208 THE FIRST NATIONAL BANK OF BOSTON
015 B001208 S
015 C011208 SAO PAULO
015 D011208 BRAZIL
015 E041208 X
015 A001209 ROYAL BANK OF CANADA
015 B001209 S
015 C011209 MONTREAL
015 D011209 CANADA
015 E041209 X
015 A001210 THE FIRST NATIONAL BANK OF BOSTON
015 B001210 S
015 C011210 SANTIAGO
015 D011210 CHILE
015 E041210 X
015 A001211 BANCO DE CHILE
<PAGE> PAGE 132
015 B001211 S
015 C011211 SANTIAGO
015 D011211 CHILE
015 E041211 X
015 A001212 THE STANDARD CHARTERED BANK, HONG KONG
015 B001212 S
015 C011212 HONG KONG
015 D011212 CHINA
015 E041212 X
015 A001213 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B001213 S
015 C011213 BOGOTA
015 D011213 COLOMBIA
015 E041213 X
015 A001214 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001214 S
015 C011214 PRAHA
015 D011214 CZECH REPUBLIC
015 E041214 X
015 A001215 DEN DANSKE BANK
015 B001215 S
015 C011215 COPENHAGEN
015 D011215 DENMARK
015 E041215 X
015 A001216 CITIBANK, N.A.
015 B001216 S
015 C011216 QUITO
015 D011216 ECUADOR
015 E041216 X
015 A001217 CITIBANK, N.A.-EGYPT BRANCH
015 B001217 S
015 C011217 CAIRO
015 D011217 EGYPT
015 E041217 X
015 A001218 MERITA BANK LTD.
015 B001218 S
015 C011218 HELSINKI
015 D011218 FINLAND
015 E041218 X
015 A001219 BANQUE PARIBAS
015 B001219 S
015 C011219 PARIS
015 D011219 FRANCE
015 E041219 X
015 A001220 CREDIT COMMERCIAL DE FRANCE
015 B001220 S
015 C011220 PARIS
015 D011220 FRANCE
015 E041220 X
015 A001221 DRESDNER BANK A.G.
015 B001221 S
<PAGE> PAGE 133
015 C011221 FRANKFURT
015 D011221 GERMANY
015 E041221 X
015 A001222 MERCHANT BANK LTD.
015 B001222 S
015 C011222 ACCRA
015 D011222 GHANA
015 E041222 X
015 A001223 NATIONAL BANK OF GREECE S.A.
015 B001223 S
015 C011223 ATHENS
015 D011223 GREECE
015 E041223 X
015 A001224 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001224 S
015 C011224 HONG KONG
015 D011224 HONG KONG
015 E041224 X
015 A001225 CITIBANK BUDAPEST RT.
015 B001225 S
015 C011225 BUDAPEST
015 D011225 HUNGARY
015 E041225 X
015 A001226 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001226 S
015 C011226 MUMBAI
015 D011226 INDIA
015 E041226 X
015 A001227 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001227 S
015 C011227 JAKARTA
015 D011227 INDONESIA
015 E041227 X
015 A001228 ALLIED IRISH BANKS, PLC
015 B001228 S
015 C011228 DUBLIN
015 D011228 IRELAND
015 E041228 X
015 A001229 BANK LEUMI LE-ISRAEL B.M.
015 B001229 S
015 C011229 TEL AVIV
015 D011229 ISRAEL
015 E041229 X
015 A001230 BANCA COMMERCIALE ITALIANA
015 B001230 S
015 C011230 MILAN
015 D011230 ITALY
015 E041230 X
015 A001231 BANQUE PARIBAS
015 B001231 S
015 C011231 MILAN
<PAGE> PAGE 134
015 D011231 ITALY
015 E041231 X
015 A001232 JASDEC
015 B001232 S
015 C011232 TOKYO
015 D011232 JAPAN
015 E041232 X
015 A001233 BANK OF TOKYO MITSUBISHI
015 B001233 S
015 C011233 TOKYO
015 D011233 JAPAN
015 E041233 X
015 A001234 THE BRITISH BANK OF THE MIDDLE EAST
015 B001234 S
015 C011234 AMMAN
015 D011234 JORDAN
015 E041234 X
015 A001235 STANBIC BANK KENYA LTD.
015 B001235 S
015 C011235 NAIROBI
015 D011235 KENYA
015 E041235 X
015 A001236 CEDEL
015 B001236 S
015 C011236 LUXEMBOURG CITY
015 D011236 LUXEMBOURG
015 E041236 X
015 A001237 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001237 S
015 C011237 LUXEMBOURG CITY
015 D011237 LUXEMBOURG
015 E041237 X
015 A001238 THE HONGKONG BANK MALAYSIA BERHAD
015 B001238 S
015 C011238 KUALA LUMPUR
015 D011238 MALAYSIA
015 E041238 X
015 A001239 BANCO NACIONAL DE MEXICO
015 B001239 S
015 C011239 MEXICO CITY
015 D011239 MEXICO
015 E041239 X
015 A001240 BANQUE COMMERCIALE DU MAROC
015 B001240 S
015 C011240 CASABLANCA
015 D011240 MOROCCO
015 E041240 X
015 A001241 STANBIC BANK NAMIBIA LTD.
015 B001241 S
015 C011241 WINDHOEK
015 D011241 NAMIBIA
<PAGE> PAGE 135
015 E041241 X
015 A001242 KAS-ASSOCIATIE NV
015 B001242 S
015 C011242 AMSTERDAM
015 D011242 NETHERLANDS
015 E041242 X
015 A001243 MEESPIERSON NV
015 B001243 S
015 C011243 AMSTERDAM
015 D011243 NETHERLANDS
015 E041243 X
015 A001244 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B001244 S
015 C011244 WELLINGTON
015 D011244 NEW ZEALAND
015 E041244 X
015 A001245 STANBIC MERCHANT BANK NIGERIA LTD.
015 B001245 S
015 C011245 LAGOS
015 D011245 NIGERIA
015 E041245 X
015 A001246 DEN NORSKE BANK ASA
015 B001246 S
015 C011246 OSLO
015 D011246 NORWAY
015 E041246 X
015 A001247 STANDARD CHARTERED BANK
015 B001247 S
015 C011247 KARACHI
015 D011247 PAKISTAN
015 E041247 X
015 A001248 CITIBANK, N.A.
015 B001248 S
015 C011248 LIMA
015 D011248 PERU
015 E041248 X
015 A001249 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001249 S
015 C011249 PASIG CITY
015 D011249 PHILIPPINES
015 E041249 X
015 A001250 BANK HANDLOWY W. WARSZAWIE S.A.
015 B001250 S
015 C011250 WARSAW
015 D011250 POLAND
015 E041250 X
015 A001251 BANCO COMERCIAL PORTUGUES, S.A.
015 B001251 S
015 C011251 LISBON
015 D011251 PORTUGAL
015 E041251 X
<PAGE> PAGE 136
015 A001252 UNITED OVERSEAS BANK LTD.
015 B001252 S
015 C011252 SINGAPORE
015 D011252 SINGAPORE
015 E041252 X
015 A001253 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B001253 S
015 C011253 SINGAPORE
015 D011253 SINGAPORE
015 E041253 X
015 A001254 CESKOSLOVENSKA OBCHODNA BANKA AS
015 B001254 S
015 C011254 BRATISLAVA
015 D011254 SLOVAK REPUBLIC
015 E041254 X
015 A001255 STANDARD CORPORATE AND MERCHANT BANK
015 B001255 S
015 C011255 JOHANNESBURG
015 D011255 SOUTH AFRICA
015 E041255 X
015 A001256 SEOULBANK
015 B001256 S
015 C011256 SEOUL
015 D011256 SOUTH KOREA
015 E041256 X
015 A001257 BANCO BILBAO VIZCAYA
015 B001257 S
015 C011257 MADRID
015 D011257 SPAIN
015 E041257 X
015 A001258 STANDARD CHARTERED BANK
015 B001258 S
015 C011258 COLOMBO
015 D011258 SRI LANKA
015 E041258 X
015 A001259 STANBIC BANK OF SWAZILAND LTD.
015 B001259 S
015 C011259 MBABANE
015 D011259 SWAZILAND
015 E041259 X
015 A001260 SKANDINAVISKA ENSKILDA BANKEN
015 B001260 S
015 C011260 STOCKHOLM
015 D011260 SWEDEN
015 E041260 X
015 A001261 UNION BANK OF SWITZERLAND
015 B001261 S
015 C011261 ZURICH
015 D011261 SWITZERLAND
015 E041261 X
015 A001262 BANK LEU LTD.
<PAGE> PAGE 137
015 B001262 S
015 C011262 ZURICH
015 D011262 SWITZERLAND
015 E041262 X
015 A001263 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001263 S
015 C011263 TAIPEI
015 D011263 TAIWAN
015 E041263 X
015 A001264 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B001264 S
015 C011264 BANGKOK
015 D011264 THAILAND
015 E041264 X
015 A001265 BANGKOK BANK PUBLIC COMPANY LTD.
015 B001265 S
015 C011265 BANGKOK
015 D011265 THAILAND
015 E041265 X
015 A001266 OSMANLI BANKASI A.S.
015 B001266 S
015 C011266 ISTANBUL
015 D011266 TURKEY
015 E041266 X
015 A001267 THE BANK OF NEW YORK
015 B001267 S
015 C011267 LONDON
015 D011267 UNITED KINGDOM
015 E041267 X
015 A001268 FIRST CHICAGO CLEARING CENTRE
015 B001268 S
015 C011268 LONDON
015 D011268 UNITED KINGDOM
015 E041268 X
015 A001269 THE FIRST NATIONAL BANK OF BOSTON
015 B001269 S
015 C011269 MONTEVIDEO
015 D011269 URUGUAY
015 E041269 X
015 A001270 CITIBANK, N.A.
015 B001270 S
015 C011270 CARACAS
015 D011270 VENEZUELA
015 E041270 X
015 A001271 STANBIC BANK ZAMBIA LTD.
015 B001271 S
015 C011271 LUSAKA
015 D011271 ZAMBIA
015 E041271 X
015 A001272 STANBIC BANK ZIMBABWE LTD.
015 B001272 S
<PAGE> PAGE 138
015 C011272 HARARE
015 D011272 ZIMBABWE
015 E041272 X
015 A001273 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B001273 S
015 C011273 MAKATI CITY
015 D011273 PHILIPPINES
015 E041273 X
024 001200 N
025 D001201 0
025 D001202 0
025 D001203 0
025 D001204 0
025 D001205 0
025 D001206 0
025 D001207 0
025 D001208 0
028 A011200 221
028 A021200 0
028 A031200 0
028 A041200 2544
028 B011200 506
028 B021200 0
028 B031200 0
028 B041200 3314
028 C011200 451
028 C021200 0
028 C031200 0
028 C041200 1834
028 D011200 615
028 D021200 0
028 D031200 0
028 D041200 2893
028 E011200 287
028 E021200 0
028 E031200 0
028 E041200 2744
028 F011200 338
028 F021200 0
028 F031200 0
028 F041200 3187
028 G011200 2418
028 G021200 0
028 G031200 0
028 G041200 16516
028 H001200 0
045 001200 Y
046 001200 N
047 001200 Y
048 001200 0.000
048 A011200 100000
<PAGE> PAGE 139
048 A021200 0.625
048 B011200 150000
048 B021200 0.500
048 C011200 9750000
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
054 A001200 Y
054 B001200 Y
054 C001200 Y
054 D001200 N
054 E001200 N
054 F001200 N
054 G001200 Y
054 H001200 Y
054 I001200 N
054 J001200 Y
054 K001200 N
054 L001200 Y
054 M001200 Y
054 N001200 N
054 O001200 N
055 A001200 N
055 B001200 N
056 001200 N
057 001200 N
058 A001200 Y
058 B001200 Y
058 C001200 Y
058 D001200 Y
<PAGE> PAGE 140
058 E001200 N
059 001200 Y
060 A001200 Y
060 B001200 Y
061 001200 2000
062 A001200 Y
062 B001200 0.0
062 C001200 0.0
062 D001200 0.0
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 5.4
062 N001200 92.9
062 O001200 0.0
062 P001200 0.0
062 Q001200 1.7
062 R001200 0.0
063 A001200 0
063 B001200 2.9
064 A001200 N
064 B001200 N
066 A001200 N
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
<PAGE> PAGE 141
070 J021200 N
070 K011200 N
070 K021200 N
070 L011200 Y
070 L021200 N
070 M011200 Y
070 M021200 N
070 N011200 Y
070 N021200 N
070 O011200 N
070 O021200 N
070 P011200 Y
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200 7387
071 B001200 33868
071 C001200 119961
071 D001200 6
072 A001200 12
072 B001200 8233
072 C001200 0
072 D001200 0
072 E001200 0
072 F001200 724
072 G001200 0
072 H001200 0
072 I001200 0
072 J001200 1
072 K001200 12
072 L001200 8
072 M001200 1
072 N001200 0
072 O001200 0
072 P001200 0
072 Q001200 0
072 R001200 4
072 S001200 1
072 T001200 0
072 U001200 0
072 V001200 0
072 W001200 5
072 X001200 756
072 Y001200 282
072 Z001200 7759
072AA001200 1249
072BB001200 0
072CC011200 0
072CC021200 927
<PAGE> PAGE 142
072DD011200 8152
072DD021200 0
072EE001200 184
073 A011200 1.0560
073 A021200 0.0000
073 B001200 0.0240
073 C001200 0.0000
074 A001200 0
074 B001200 14
074 C001200 0
074 D001200 111686
074 E001200 0
074 F001200 0
074 G001200 0
074 H001200 0
074 I001200 0
074 J001200 25
074 K001200 0
074 L001200 0
074 M001200 0
074 N001200 111725
074 O001200 38
074 P001200 27
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
074 R041200 10
074 S001200 0
074 T001200 111650
074 U011200 7375
074 U021200 0
074 V011200 15.14
074 V021200 0.00
074 W001200 0.0000
074 X001200 3
074 Y001200 8677
075 A001200 0
075 B001200 119833
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 94404
008 D041301 1585
015 A001301 BANK OF NEW YORK
015 B001301 C
015 C011301 NEW YORK
015 C021301 NY
<PAGE> PAGE 143
015 C031301 10286
015 E011301 X
015 A001302 THE BANK OF BOSTON
015 B001302 S
015 C011302 BUENOS AIRES
015 D011302 ARGENTINA
015 E041302 X
015 A001303 NATIONAL AUSTRALIA BANKING LTD.
015 B001303 S
015 C011303 MELBOURNE
015 D011303 AUSTRALIA
015 E041303 X
015 A001304 CREDITANSTALT BANKVEREIN
015 B001304 S
015 C011304 VIENNA
015 D011304 AUSTRIA
015 E041304 X
015 A001305 STANDARD CHARTERED BANK PLC
015 B001305 S
015 C011305 DHAKA
015 D011305 BANGLADESH
015 E041305 X
015 A001306 BANQUE BRUXELLES LAMBERT
015 B001306 S
015 C011306 BRUSSELS
015 D011306 BELGIUM
015 E041306 X
015 A001307 STANBIC BANK BOTSWANA LTD.
015 B001307 S
015 C011307 GABARONE
015 D011307 BOTSWANA
015 E041307 X
015 A001308 THE FIRST NATIONAL BANK OF BOSTON
015 B001308 S
015 C011308 SAO PAULO
015 D011308 BRAZIL
015 E041308 X
015 A001309 ROYAL BANK OF CANADA
015 B001309 S
015 C011309 MONTREAL
015 D011309 CANADA
015 E041309 X
015 A001310 THE FIRST NATIONAL BANK OF BOSTON
015 B001310 S
015 C011310 SANTIAGO
015 D011310 CHILE
015 E041310 X
015 A001311 BANCO DE CHILE
015 B001311 S
015 C011311 SANTIAGO
015 D011311 CHILE
<PAGE> PAGE 144
015 E041311 X
015 A001312 THE STANDARD CHARTERED BANK, HONG KONG
015 B001312 S
015 C011312 HONG KONG
015 D011312 CHINA
015 E041312 X
015 A001313 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B001313 S
015 C011313 BOGOTA
015 D011313 COLOMBIA
015 E041313 X
015 A001314 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001314 S
015 C011314 PRAHA
015 D011314 CZECH REPUBLIC
015 E041314 X
015 A001315 DEN DANSKE BANK
015 B001315 S
015 C011315 COPENHAGEN
015 D011315 DENMARK
015 E041315 X
015 A001316 CITIBANK, N.A.
015 B001316 S
015 C011316 QUITO
015 D011316 ECUADOR
015 E041316 X
015 A001317 CITIBANK, N.A.-EGYPT BRANCH
015 B001317 S
015 C011317 CAIRO
015 D011317 EGYPT
015 E041317 X
015 A001318 MERITA BANK LTD.
015 B001318 S
015 C011318 HELSINKI
015 D011318 FINLAND
015 E041318 X
015 A001319 BANQUE PARIBAS
015 B001319 S
015 C011319 PARIS
015 D011319 FRANCE
015 E041319 X
015 A001320 CREDIT COMMERCIAL DE FRANCE
015 B001320 S
015 C011320 PARIS
015 D011320 FRANCE
015 E041320 X
015 A001321 DRESDNER BANK A.G.
015 B001321 S
015 C011321 FRANKFURT
015 D011321 GERMANY
015 E041321 X
<PAGE> PAGE 145
015 A001322 MERCHANT BANK LTD.
015 B001322 S
015 C011322 ACCRA
015 D011322 GHANA
015 E041322 X
015 A001323 NATIONAL BANK OF GREECE S.A.
015 B001323 S
015 C011323 ATHENS
015 D011323 GREECE
015 E041323 X
015 A001324 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001324 S
015 C011324 HONG KONG
015 D011324 HONG KONG
015 E041324 X
015 A001325 CITIBANK BUDAPEST RT.
015 B001325 S
015 C011325 BUDAPEST
015 D011325 HUNGARY
015 E041325 X
015 A001326 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001326 S
015 C011326 MUMBAI
015 D011326 INDIA
015 E041326 X
015 A001327 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001327 S
015 C011327 JAKARTA
015 D011327 INDONESIA
015 E041327 X
015 A001328 ALLIED IRISH BANKS, PLC
015 B001328 S
015 C011328 DUBLIN
015 D011328 IRELAND
015 E041328 X
015 A001329 BANK LEUMI LE-ISRAEL B.M.
015 B001329 S
015 C011329 TEL AVIV
015 D011329 ISRAEL
015 E041329 X
015 A001330 BANCA COMMERCIALE ITALIANA
015 B001330 S
015 C011330 MILAN
015 D011330 ITALY
015 E041330 X
015 A001331 BANQUE PARIBAS
015 B001331 S
015 C011331 MILAN
015 D011331 ITALY
015 E041331 X
015 A001332 JASDEC
<PAGE> PAGE 146
015 B001332 S
015 C011332 TOKYO
015 D011332 JAPAN
015 E041332 X
015 A001333 BANK OF TOKYO MITSUBISHI
015 B001333 S
015 C011333 TOKYO
015 D011333 JAPAN
015 E041333 X
015 A001334 THE BRITISH BANK OF THE MIDDLE EAST
015 B001334 S
015 C011334 AMMAN
015 D011334 JORDAN
015 E041334 X
015 A001335 STANBIC BANK KENYA LTD.
015 B001335 S
015 C011335 NAIROBI
015 D011335 KENYA
015 E041335 X
015 A001336 CEDEL
015 B001336 S
015 C011336 LUXEMBOURG CITY
015 D011336 LUXEMBOURG
015 E041336 X
015 A001337 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001337 S
015 C011337 LUXEMBOURG CITY
015 D011337 LUXEMBOURG
015 E041337 X
015 A001338 THE HONGKONG BANK MALAYSIA BERHAD
015 B001338 S
015 C011338 KUALA LUMPUR
015 D011338 MALAYSIA
015 E041338 X
015 A001339 BANCO NACIONAL DE MEXICO
015 B001339 S
015 C011339 MEXICO CITY
015 D011339 MEXICO
015 E041339 X
015 A001340 BANQUE COMMERCIALE DU MAROC
015 B001340 S
015 C011340 CASABLANCA
015 D011340 MOROCCO
015 E041340 X
015 A001341 STANBIC BANK NAMIBIA LTD.
015 B001341 S
015 C011341 WINDHOEK
015 D011341 NAMIBIA
015 E041341 X
015 A001342 KAS-ASSOCIATIE NV
015 B001342 S
<PAGE> PAGE 147
015 C011342 AMSTERDAM
015 D011342 NETHERLANDS
015 E041342 X
015 A001343 MEESPIERSON NV
015 B001343 S
015 C011343 AMSTERDAM
015 D011343 NETHERLANDS
015 E041343 X
015 A001344 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B001344 S
015 C011344 WELLINGTON
015 D011344 NEW ZEALAND
015 E041344 X
015 A001345 STANBIC MERCHANT BANK NIGERIA LTD.
015 B001345 S
015 C011345 LAGOS
015 D011345 NIGERIA
015 E041345 X
015 A001346 DEN NORSKE BANK ASA
015 B001346 S
015 C011346 OSLO
015 D011346 NORWAY
015 E041346 X
015 A001347 STANDARD CHARTERED BANK
015 B001347 S
015 C011347 KARACHI
015 D011347 PAKISTAN
015 E041347 X
015 A001348 CITIBANK, N.A.
015 B001348 S
015 C011348 LIMA
015 D011348 PERU
015 E041348 X
015 A001349 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001349 S
015 C011349 PASIG CITY
015 D011349 PHILIPPINES
015 E041349 X
015 A001350 BANK HANDLOWY W. WARSZAWIE S.A.
015 B001350 S
015 C011350 WARSAW
015 D011350 POLAND
015 E041350 X
015 A001351 BANCO COMERCIAL PORTUGUES, S.A.
015 B001351 S
015 C011351 LISBON
015 D011351 PORTUGAL
015 E041351 X
015 A001352 UNITED OVERSEAS BANK LTD.
015 B001352 S
015 C011352 SINGAPORE
<PAGE> PAGE 148
015 D011352 SINGAPORE
015 E041352 X
015 A001353 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B001353 S
015 C011353 SINGAPORE
015 D011353 SINGAPORE
015 E041353 X
015 A001354 CESKOSLOVENSKA OBCHODNA BANKA AS
015 B001354 S
015 C011354 BRATISLAVA
015 D011354 SLOVAK REPUBLIC
015 E041354 X
015 A001355 STANDARD CORPORATE AND MERCHANT BANK
015 B001355 S
015 C011355 JOHANNESBURG
015 D011355 SOUTH AFRICA
015 E041355 X
015 A001356 SEOULBANK
015 B001356 S
015 C011356 SEOUL
015 D011356 SOUTH KOREA
015 E041356 X
015 A001357 BANCO BILBAO VIZCAYA
015 B001357 S
015 C011357 MADRID
015 D011357 SPAIN
015 E041357 X
015 A001358 STANDARD CHARTERED BANK
015 B001358 S
015 C011358 COLOMBO
015 D011358 SRI LANKA
015 E041358 X
015 A001359 STANBIC BANK OF SWAZILAND LTD.
015 B001359 S
015 C011359 MBABANE
015 D011359 SWAZILAND
015 E041359 X
015 A001360 SKANDINAVISKA ENSKILDA BANKEN
015 B001360 S
015 C011360 STOCKHOLM
015 D011360 SWEDEN
015 E041360 X
015 A001361 UNION BANK OF SWITZERLAND
015 B001361 S
015 C011361 ZURICH
015 D011361 SWITZERLAND
015 E041361 X
015 A001362 BANK LEU LTD.
015 B001362 S
015 C011362 ZURICH
015 D011362 SWITZERLAND
<PAGE> PAGE 149
015 E041362 X
015 A001363 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001363 S
015 C011363 TAIPEI
015 D011363 TAIWAN
015 E041363 X
015 A001364 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B001364 S
015 C011364 BANGKOK
015 D011364 THAILAND
015 E041364 X
015 A001365 BANGKOK BANK PUBLIC COMPANY LTD.
015 B001365 S
015 C011365 BANGKOK
015 D011365 THAILAND
015 E041365 X
015 A001366 OSMANLI BANKASI A.S.
015 B001366 S
015 C011366 ISTANBUL
015 D011366 TURKEY
015 E041366 X
015 A001367 THE BANK OF NEW YORK
015 B001367 S
015 C011367 LONDON
015 D011367 UNITED KINGDOM
015 E041367 X
015 A001368 FIRST CHICAGO CLEARING CENTRE
015 B001368 S
015 C011368 LONDON
015 D011368 UNITED KINGDOM
015 E041368 X
015 A001369 THE FIRST NATIONAL BANK OF BOSTON
015 B001369 S
015 C011369 MONTEVIDEO
015 D011369 URUGUAY
015 E041369 X
015 A001370 CITIBANK, N.A.
015 B001370 S
015 C011370 CARACAS
015 D011370 VENEZUELA
015 E041370 X
015 A001371 STANBIC BANK ZAMBIA LTD.
015 B001371 S
015 C011371 LUSAKA
015 D011371 ZAMBIA
015 E041371 X
015 A001372 STANBIC BANK ZIMBABWE LTD.
015 B001372 S
015 C011372 HARARE
015 D011372 ZIMBABWE
015 E041372 X
<PAGE> PAGE 150
015 A001373 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B001373 S
015 C011373 MAKATI CITY
015 D011373 PHILIPPINES
015 E041373 X
024 001300 N
025 D001301 0
025 D001302 0
025 D001303 0
025 D001304 0
025 D001305 0
025 D001306 0
025 D001307 0
025 D001308 0
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028 A031300 0
028 A041300 1857
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028 B041300 2262
028 C011300 846
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028 C041300 1073
028 D011300 741
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028 D031300 0
028 D041300 1988
028 E011300 1393
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028 E031300 0
028 E041300 1770
028 F011300 652
028 F021300 0
028 F031300 0
028 F041300 2140
028 G011300 5597
028 G021300 0
028 G031300 0
028 G041300 11090
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
<PAGE> PAGE 151
048 C011300 9750000
048 C021300 0.450
048 D011300 2500000
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
054 A001300 Y
054 B001300 Y
054 C001300 Y
054 D001300 N
054 E001300 N
054 F001300 N
054 G001300 Y
054 H001300 Y
054 I001300 N
054 J001300 Y
054 K001300 N
054 L001300 Y
054 M001300 Y
054 N001300 N
054 O001300 N
055 A001300 N
055 B001300 N
056 001300 N
057 001300 N
058 A001300 Y
058 B001300 Y
058 C001300 Y
058 D001300 Y
058 E001300 N
059 001300 Y
060 A001300 Y
<PAGE> PAGE 152
060 B001300 Y
061 001300 2000
062 A001300 Y
062 B001300 0.0
062 C001300 0.0
062 D001300 0.1
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 10.5
062 N001300 85.8
062 O001300 0.0
062 P001300 0.0
062 Q001300 3.8
062 R001300 0.0
063 A001300 0
063 B001300 7.6
064 A001300 N
064 B001300 N
066 A001300 N
067 001300 N
068 A001300 N
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
<PAGE> PAGE 153
070 L011300 Y
070 L021300 N
070 M011300 Y
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 3521
071 B001300 17257
071 C001300 77864
071 D001300 5
072 A001300 12
072 B001300 5103
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072 D001300 0
072 E001300 0
072 F001300 486
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072 H001300 0
072 I001300 0
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072 K001300 7
072 L001300 6
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072 O001300 0
072 P001300 0
072 Q001300 0
072 R001300 3
072 S001300 1
072 T001300 0
072 U001300 0
072 V001300 0
072 W001300 4
072 X001300 508
072 Y001300 195
072 Z001300 4790
072AA001300 1114
072BB001300 1
072CC011300 2364
072CC021300 0
072DD011300 4940
072DD021300 0
072EE001300 17
<PAGE> PAGE 154
073 A011300 1.0645
073 A021300 0.0000
073 B001300 0.0037
073 C001300 0.0000
074 A001300 0
074 B001300 49
074 C001300 0
074 D001300 77390
074 E001300 0
074 F001300 0
074 G001300 0
074 H001300 0
074 I001300 0
074 J001300 0
074 K001300 0
074 L001300 7
074 M001300 0
074 N001300 77446
074 O001300 0
074 P001300 22
074 Q001300 0
074 R011300 0
074 R021300 0
074 R031300 0
074 R041300 128
074 S001300 0
074 T001300 77296
074 U011300 4534
074 U021300 0
074 V011300 17.05
074 V021300 0.00
074 W001300 0.0000
074 X001300 3
074 Y001300 4060
075 A001300 0
075 B001300 77708
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 94404
008 D041401 1585
015 A001401 BANK OF NEW YORK
015 B001401 C
015 C011401 NEW YORK
015 C021401 NY
015 C031401 10286
015 E011401 X
015 A001402 THE BANK OF BOSTON
<PAGE> PAGE 155
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 PLC
015 B001405 S
015 C011405 DHAKA
015 D011405 BANGLADESH
015 E041405 X
015 A001406 BANQUE BRUXELLES LAMBERT
015 B001406 S
015 C011406 BRUSSELS
015 D011406 BELGIUM
015 E041406 X
015 A001407 STANBIC BANK BOTSWANA LTD.
015 B001407 S
015 C011407 GABARONE
015 D011407 BOTSWANA
015 E041407 X
015 A001408 THE FIRST NATIONAL BANK OF BOSTON
015 B001408 S
015 C011408 SAO PAULO
015 D011408 BRAZIL
015 E041408 X
015 A001409 ROYAL BANK OF CANADA
015 B001409 S
015 C011409 MONTREAL
015 D011409 CANADA
015 E041409 X
015 A001410 THE FIRST NATIONAL BANK OF BOSTON
015 B001410 S
015 C011410 SANTIAGO
015 D011410 CHILE
015 E041410 X
015 A001411 BANCO DE CHILE
015 B001411 S
015 C011411 SANTIAGO
015 D011411 CHILE
015 E041411 X
015 A001412 THE STANDARD CHARTERED BANK, HONG KONG
015 B001412 S
<PAGE> PAGE 156
015 C011412 HONG KONG
015 D011412 CHINA
015 E041412 X
015 A001413 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B001413 S
015 C011413 BOGOTA
015 D011413 COLOMBIA
015 E041413 X
015 A001414 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001414 S
015 C011414 PRAHA
015 D011414 CZECH REPUBLIC
015 E041414 X
015 A001415 DEN DANSKE BANK
015 B001415 S
015 C011415 COPENHAGEN
015 D011415 DENMARK
015 E041415 X
015 A001416 CITIBANK, N.A.
015 B001416 S
015 C011416 QUITO
015 D011416 ECUADOR
015 E041416 X
015 A001417 CITIBANK, N.A.-EGYPT BRANCH
015 B001417 S
015 C011417 CAIRO
015 D011417 EGYPT
015 E041417 X
015 A001418 MERITA BANK LTD.
015 B001418 S
015 C011418 HELSINKI
015 D011418 FINLAND
015 E041418 X
015 A001419 BANQUE PARIBAS
015 B001419 S
015 C011419 PARIS
015 D011419 FRANCE
015 E041419 X
015 A001420 CREDIT COMMERCIAL DE FRANCE
015 B001420 S
015 C011420 PARIS
015 D011420 FRANCE
015 E041420 X
015 A001421 DRESDNER BANK A.G.
015 B001421 S
015 C011421 FRANKFURT
015 D011421 GERMANY
015 E041421 X
015 A001422 MERCHANT BANK LTD.
015 B001422 S
015 C011422 ACCRA
<PAGE> PAGE 157
015 D011422 GHANA
015 E041422 X
015 A001423 NATIONAL BANK OF GREECE S.A.
015 B001423 S
015 C011423 ATHENS
015 D011423 GREECE
015 E041423 X
015 A001424 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001424 S
015 C011424 HONG KONG
015 D011424 HONG KONG
015 E041424 X
015 A001425 CITIBANK BUDAPEST RT.
015 B001425 S
015 C011425 BUDAPEST
015 D011425 HUNGARY
015 E041425 X
015 A001426 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001426 S
015 C011426 MUMBAI
015 D011426 INDIA
015 E041426 X
015 A001427 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001427 S
015 C011427 JAKARTA
015 D011427 INDONESIA
015 E041427 X
015 A001428 ALLIED IRISH BANKS, PLC
015 B001428 S
015 C011428 DUBLIN
015 D011428 IRELAND
015 E041428 X
015 A001429 BANK LEUMI LE-ISRAEL B.M.
015 B001429 S
015 C011429 TEL AVIV
015 D011429 ISRAEL
015 E041429 X
015 A001430 BANCA COMMERCIALE ITALIANA
015 B001430 S
015 C011430 MILAN
015 D011430 ITALY
015 E041430 X
015 A001431 BANQUE PARIBAS
015 B001431 S
015 C011431 MILAN
015 D011431 ITALY
015 E041431 X
015 A001432 JASDEC
015 B001432 S
015 C011432 TOKYO
015 D011432 JAPAN
<PAGE> PAGE 158
015 E041432 X
015 A001433 BANK OF TOKYO MITSUBISHI
015 B001433 S
015 C011433 TOKYO
015 D011433 JAPAN
015 E041433 X
015 A001434 THE BRITISH BANK OF THE MIDDLE EAST
015 B001434 S
015 C011434 AMMAN
015 D011434 JORDAN
015 E041434 X
015 A001435 STANBIC BANK KENYA LTD.
015 B001435 S
015 C011435 NAIROBI
015 D011435 KENYA
015 E041435 X
015 A001436 CEDEL
015 B001436 S
015 C011436 LUXEMBOURG CITY
015 D011436 LUXEMBOURG
015 E041436 X
015 A001437 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001437 S
015 C011437 LUXEMBOURG CITY
015 D011437 LUXEMBOURG
015 E041437 X
015 A001438 THE HONGKONG BANK MALAYSIA BERHAD
015 B001438 S
015 C011438 KUALA LUMPUR
015 D011438 MALAYSIA
015 E041438 X
015 A001439 BANCO NACIONAL DE MEXICO
015 B001439 S
015 C011439 MEXICO CITY
015 D011439 MEXICO
015 E041439 X
015 A001440 BANQUE COMMERCIALE DU MAROC
015 B001440 S
015 C011440 CASABLANCA
015 D011440 MOROCCO
015 E041440 X
015 A001441 STANBIC BANK NAMIBIA LTD.
015 B001441 S
015 C011441 WINDHOEK
015 D011441 NAMIBIA
015 E041441 X
015 A001442 KAS-ASSOCIATIE NV
015 B001442 S
015 C011442 AMSTERDAM
015 D011442 NETHERLANDS
015 E041442 X
<PAGE> PAGE 159
015 A001443 MEESPIERSON NV
015 B001443 S
015 C011443 AMSTERDAM
015 D011443 NETHERLANDS
015 E041443 X
015 A001444 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B001444 S
015 C011444 WELLINGTON
015 D011444 NEW ZEALAND
015 E041444 X
015 A001445 STANBIC MERCHANT BANK NIGERIA LTD.
015 B001445 S
015 C011445 LAGOS
015 D011445 NIGERIA
015 E041445 X
015 A001446 DEN NORSKE BANK ASA
015 B001446 S
015 C011446 OSLO
015 D011446 NORWAY
015 E041446 X
015 A001447 STANDARD CHARTERED BANK
015 B001447 S
015 C011447 KARACHI
015 D011447 PAKISTAN
015 E041447 X
015 A001448 CITIBANK, N.A.
015 B001448 S
015 C011448 LIMA
015 D011448 PERU
015 E041448 X
015 A001449 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001449 S
015 C011449 PASIG CITY
015 D011449 PHILIPPINES
015 E041449 X
015 A001450 BANK HANDLOWY W. WARSZAWIE S.A.
015 B001450 S
015 C011450 WARSAW
015 D011450 POLAND
015 E041450 X
015 A001451 BANCO COMERCIAL PORTUGUES, S.A.
015 B001451 S
015 C011451 LISBON
015 D011451 PORTUGAL
015 E041451 X
015 A001452 UNITED OVERSEAS BANK LTD.
015 B001452 S
015 C011452 SINGAPORE
015 D011452 SINGAPORE
015 E041452 X
015 A001453 DEVELOPMENT BANK OF SINGAPORE LTD.
<PAGE> PAGE 160
015 B001453 S
015 C011453 SINGAPORE
015 D011453 SINGAPORE
015 E041453 X
015 A001454 CESKOSLOVENSKA OBCHODNA BANKA AS
015 B001454 S
015 C011454 BRATISLAVA
015 D011454 SLOVAK REPUBLIC
015 E041454 X
015 A001455 STANDARD CORPORATE AND MERCHANT BANK
015 B001455 S
015 C011455 JOHANNESBURG
015 D011455 SOUTH AFRICA
015 E041455 X
015 A001456 SEOULBANK
015 B001456 S
015 C011456 SEOUL
015 D011456 SOUTH KOREA
015 E041456 X
015 A001457 BANCO BILBAO VIZCAYA
015 B001457 S
015 C011457 MADRID
015 D011457 SPAIN
015 E041457 X
015 A001458 STANDARD CHARTERED BANK
015 B001458 S
015 C011458 COLOMBO
015 D011458 SRI LANKA
015 E041458 X
015 A001459 STANBIC BANK OF SWAZILAND LTD.
015 B001459 S
015 C011459 MBABANE
015 D011459 SWAZILAND
015 E041459 X
015 A001460 SKANDINAVISKA ENSKILDA BANKEN
015 B001460 S
015 C011460 STOCKHOLM
015 D011460 SWEDEN
015 E041460 X
015 A001461 UNION BANK OF SWITZERLAND
015 B001461 S
015 C011461 ZURICH
015 D011461 SWITZERLAND
015 E041461 X
015 A001462 BANK LEU LTD.
015 B001462 S
015 C011462 ZURICH
015 D011462 SWITZERLAND
015 E041462 X
015 A001463 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001463 S
<PAGE> PAGE 161
015 C011463 TAIPEI
015 D011463 TAIWAN
015 E041463 X
015 A001464 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B001464 S
015 C011464 BANGKOK
015 D011464 THAILAND
015 E041464 X
015 A001465 BANGKOK BANK PUBLIC COMPANY LTD.
015 B001465 S
015 C011465 BANGKOK
015 D011465 THAILAND
015 E041465 X
015 A001466 OSMANLI BANKASI A.S.
015 B001466 S
015 C011466 ISTANBUL
015 D011466 TURKEY
015 E041466 X
015 A001467 THE BANK OF NEW YORK
015 B001467 S
015 C011467 LONDON
015 D011467 UNITED KINGDOM
015 E041467 X
015 A001468 FIRST CHICAGO CLEARING CENTRE
015 B001468 S
015 C011468 LONDON
015 D011468 UNITED KINGDOM
015 E041468 X
015 A001469 THE FIRST NATIONAL BANK OF BOSTON
015 B001469 S
015 C011469 MONTEVIDEO
015 D011469 URUGUAY
015 E041469 X
015 A001470 CITIBANK, N.A.
015 B001470 S
015 C011470 CARACAS
015 D011470 VENEZUELA
015 E041470 X
015 A001471 STANBIC BANK ZAMBIA LTD.
015 B001471 S
015 C011471 LUSAKA
015 D011471 ZAMBIA
015 E041471 X
015 A001472 STANBIC BANK ZIMBABWE LTD.
015 B001472 S
015 C011472 HARARE
015 D011472 ZIMBABWE
015 E041472 X
015 A001473 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B001473 S
015 C011473 MAKATI CITY
<PAGE> PAGE 162
015 D011473 PHILIPPPINES
015 E041473 X
024 001400 N
025 D001401 0
025 D001402 0
025 D001403 0
025 D001404 0
025 D001405 0
025 D001406 0
025 D001407 0
025 D001408 0
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028 A021400 0
028 A031400 0
028 A041400 5791
028 B011400 1725
028 B021400 0
028 B031400 0
028 B041400 3882
028 C011400 1820
028 C021400 0
028 C031400 0
028 C041400 2172
028 D011400 3307
028 D021400 0
028 D031400 0
028 D041400 1847
028 E011400 3065
028 E021400 0
028 E031400 0
028 E041400 1638
028 F011400 4417
028 F021400 0
028 F031400 0
028 F041400 3565
028 G011400 15340
028 G021400 0
028 G031400 0
028 G041400 18895
028 H001400 0
045 001400 Y
046 001400 N
047 001400 Y
048 001400 0.000
048 A011400 100000
048 A021400 0.625
048 B011400 150000
048 B021400 0.500
048 C011400 9750000
048 C021400 0.450
048 D011400 2500000
<PAGE> PAGE 163
048 D021400 0.440
048 E011400 2500000
048 E021400 0.420
048 F011400 0
048 F021400 0.000
048 G011400 0
048 G021400 0.000
048 H011400 0
048 H021400 0.000
048 I011400 0
048 I021400 0.000
048 J011400 0
048 J021400 0.000
048 K011400 15000000
048 K021400 0.400
049 001400 N
050 001400 N
051 001400 N
052 001400 N
053 A001400 Y
053 B001400 Y
053 C001400 N
054 A001400 Y
054 B001400 Y
054 C001400 Y
054 D001400 N
054 E001400 N
054 F001400 N
054 G001400 Y
054 H001400 Y
054 I001400 N
054 J001400 Y
054 K001400 N
054 L001400 Y
054 M001400 Y
054 N001400 N
054 O001400 N
055 A001400 N
055 B001400 N
056 001400 N
057 001400 N
058 A001400 Y
058 B001400 Y
058 C001400 Y
058 D001400 Y
058 E001400 N
059 001400 Y
060 A001400 Y
060 B001400 Y
061 001400 2000
062 A001400 Y
<PAGE> PAGE 164
062 B001400 0.0
062 C001400 0.0
062 D001400 0.5
062 E001400 0.0
062 F001400 0.0
062 G001400 0.0
062 H001400 0.0
062 I001400 0.0
062 J001400 0.0
062 K001400 0.0
062 L001400 0.0
062 M001400 10.0
062 N001400 84.3
062 O001400 0.0
062 P001400 0.0
062 Q001400 5.6
062 R001400 0.0
063 A001400 0
063 B001400 13.0
064 A001400 N
064 B001400 N
066 A001400 N
067 001400 N
068 A001400 N
068 B001400 N
069 001400 N
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 Y
<PAGE> PAGE 165
070 M021400 N
070 N011400 Y
070 N021400 N
070 O011400 N
070 O021400 N
070 P011400 Y
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 N
070 R021400 N
071 A001400 9571
071 B001400 15909
071 C001400 78441
071 D001400 12
072 A001400 12
072 B001400 5199
072 C001400 0
072 D001400 0
072 E001400 0
072 F001400 491
072 G001400 0
072 H001400 0
072 I001400 0
072 J001400 1
072 K001400 8
072 L001400 5
072 M001400 0
072 N001400 0
072 O001400 0
072 P001400 0
072 Q001400 0
072 R001400 3
072 S001400 1
072 T001400 0
072 U001400 0
072 V001400 0
072 W001400 4
072 X001400 513
072 Y001400 198
072 Z001400 4884
072AA001400 1202
072BB001400 200
072CC011400 6324
072CC021400 0
072DD011400 4879
072DD021400 0
072EE001400 39
073 A011400 1.0132
073 A021400 0.0000
073 B001400 0.0081
<PAGE> PAGE 166
073 C001400 0.0000
074 A001400 0
074 B001400 461
074 C001400 0
074 D001400 85406
074 E001400 0
074 F001400 0
074 G001400 0
074 H001400 0
074 I001400 0
074 J001400 0
074 K001400 0
074 L001400 29
074 M001400 0
074 N001400 85896
074 O001400 0
074 P001400 204
074 Q001400 0
074 R011400 0
074 R021400 0
074 R031400 0
074 R041400 177
074 S001400 0
074 T001400 85515
074 U011400 4797
074 U021400 0
074 V011400 17.83
074 V021400 0.00
074 W001400 0.0000
074 X001400 3
074 Y001400 0
075 A001400 0
075 B001400 78638
076 001400 0.00
015 A001501 BANK OF NEW YORK
015 B001501 C
015 C011501 NEW YORK
015 C021501 NY
015 C031501 10286
015 E011501 X
015 A001502 THE BANK OF BOSTON
015 B001502 S
015 C011502 BUENOS AIRES
015 D011502 ARGENTINA
015 E041502 X
015 A001503 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B001503 S
015 C011503 MELBOURNE
015 D011503 AUSTRALIA
015 E041503 X
015 A001504 CREDITANSTALT-BANKVEREIN
<PAGE> PAGE 167
015 B001504 S
015 C011504 VIENNA
015 D011504 AUSTRIA
015 E041504 X
015 A001505 STANDARD CHARTERED BANK PLC
015 B001505 S
015 C011505 DHAKA
015 D011505 BANGLADESH
015 E041505 X
015 A001506 BANQUE BRUXELLES LAMBERT
015 B001506 S
015 C011506 BRUSSELS
015 D011506 BELGIUM
015 E041506 X
015 A001507 STANBIC BANK BOTSWANA LIMITED
015 B001507 S
015 C011507 GABORONE
015 D011507 BOTSWANA
015 E041507 X
015 A001508 THE FIRST NATIONAL BANK OF BOSTON
015 B001508 S
015 C011508 SAO PAULO
015 D011508 BRAZIL
015 E041508 X
015 A001509 ROYAL BANK OF CANADA
015 B001509 S
015 C011509 MONTREAL
015 D011509 CANADA
015 E041509 X
015 A001510 THE FIRST NATIONAL BANK OF BOSTON
015 B001510 S
015 C011510 SANTIAGO
015 D011510 CHILE
015 E041510 X
015 A001511 BANCO DE CHILE
015 B001511 S
015 C011511 SANTIAGO
015 D011511 CHILE
015 E041511 X
015 A001512 THE STANDARD CHARTERED BANK, HONG KONG
015 B001512 S
015 C011512 HONG KONG
015 D011512 CHINA
015 E041512 X
015 A001513 CTBANK, NA VIA CITITRUST CLMBIA SA SOC. FIDU.
015 B001513 S
015 C011513 BOGOTA
015 D011513 COLOMBIA
015 E041513 X
015 A001514 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001514 S
<PAGE> PAGE 168
015 C011514 PRAGUE
015 D011514 CZECH REPUBLIC
015 E041514 X
015 A001515 DEN DANSKE BANK
015 B001515 S
015 C011515 COPENHAGEN
015 D011515 DENMARK
015 E041515 X
015 A001516 CITIBANK, N.A.
015 B001516 S
015 C011516 QUITO
015 D011516 ECUADOR
015 E041516 X
015 A001517 CITIBANK, N.A.
015 B001517 S
015 C011517 CAIRO
015 D011517 EGYPT
015 E041517 X
015 A001518 MERITA BANK LTD.
015 B001518 S
015 C011518 HELSINKI
015 D011518 FINLAND
015 E041518 X
015 A001519 BANQUE PARIBAS
015 B001519 S
015 C011519 PARIS
015 D011519 FRANCE
015 E041519 X
015 A001520 CREDIT COMMERCIAL DE FRANCE
015 B001520 S
015 C011520 PARIS
015 D011520 FRANCE
015 E041520 X
015 A001521 DRESDNER BANK, A.G.
015 B001521 S
015 C011521 FRANKFURT
015 D011521 GERMANY
015 E041521 X
015 A001522 MERCHANT BANK LIMITED
015 B001522 S
015 C011522 ACCRA
015 D011522 GHANA
015 E041522 X
015 A001523 NATIONAL BANK OF GREECE S.A.
015 B001523 S
015 C011523 ATHENS
015 D011523 GREECE
015 E041523 X
015 A001524 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001524 S
015 C011524 HONG KONG
<PAGE> PAGE 169
015 D011524 HONG KONG
015 E041524 X
015 A001525 CITIBANK BUDAPEST RT.
015 B001525 S
015 C011525 BUDAPEST
015 D011525 HUNGARY
015 E041525 X
015 A001526 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001526 S
015 C011526 MUMBAI
015 D011526 INDIA
015 E041526 X
015 A001527 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001527 S
015 C011527 JAKARTA
015 D011527 INDONESIA
015 E041527 X
015 A001528 ALLIED IRISH BANKS, PLC
015 B001528 S
015 C011528 DUBLIN
015 D011528 IRELAND
015 E041528 X
015 A001529 BANK LEUMI LE-ISRAEL, B.M.
015 B001529 S
015 C011529 TEL AVIV
015 D011529 ISRAEL
015 E041529 X
015 A001530 BANCA COMMERCIALE ITALIANA
015 B001530 S
015 C011530 MILAN
015 D011530 ITALY
015 E041530 X
015 A001531 BANQUE PARIBAS
015 B001531 S
015 C011531 MILAN
015 D011531 ITALY
015 E041531 X
015 A001532 JASDEC
015 B001532 S
015 C011532 TOKYO
015 D011532 JAPAN
015 E041532 X
015 A001533 BANK OF TOKYO MITSUBISHI
015 B001533 S
015 C011533 TOKYO
015 D011533 JAPAN
015 E041533 X
015 A001534 THE BRITISH BANK OF THE MIDDLE EAST
015 B001534 S
015 C011534 AMMAN
015 D011534 JORDAN
<PAGE> PAGE 170
015 E041534 X
015 A001535 STANBIC BANK KENYA LIMITED
015 B001535 S
015 C011535 NAIROBI
015 D011535 KENYA
015 E041535 X
015 A001536 CEDEL
015 B001536 S
015 C011536 LUXEMBOURG CITY
015 D011536 LUXEMBOURG
015 E041536 X
015 A001537 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001537 S
015 C011537 LUXEMBOURG CITY
015 D011537 LUXEMBOURG
015 E041537 X
015 A001538 DELETE
015 A001539 THE HONGKONG BANK MALAYSIA BERHAD
015 B001539 S
015 C011539 KUALA LUMPUR
015 D011539 MALAYSIA
015 E041539 X
015 A001540 BANCO NACIONAL DE MEXICO
015 B001540 S
015 C011540 MEXICO CITY
015 D011540 MEXICO
015 E041540 X
015 A001541 BANQUE COMMERCIALE DU MAROC
015 B001541 S
015 C011541 CASABLANCA
015 D011541 MOROCCO
015 E041541 X
015 A001542 STANBIC BANK NAMIBIA LIMITED
015 B001542 S
015 C011542 WINDHOEK
015 D011542 NAMIBIA
015 E041542 X
015 A001543 KAS-ASSOCIATIE NV
015 B001543 S
015 C011543 AMSTERDAM
015 D011543 NETHERLANDS
015 E041543 X
015 A001544 MEESPIERSON NV
015 B001544 S
015 C011544 AMSTERDAM
015 D011544 NETHERLANDS
015 E041544 X
015 A001545 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B001545 S
015 C011545 WELLINGTON
015 D011545 NEW ZEALAND
<PAGE> PAGE 171
015 E041545 X
015 A001546 STANBIC MERCHANT BANK NIGERIA LIMITED
015 B001546 S
015 C011546 LAGOS
015 D011546 NIGERIA
015 E041546 X
015 A001547 DEN NORSKE BANK
015 B001547 S
015 C011547 OSLO
015 D011547 NORWAY
015 E041547 X
015 A001548 STANDARD CHARTERED BANK
015 B001548 S
015 C011548 KARACHI
015 D011548 PAKISTAN
015 E041548 X
015 A001549 CITIBANK, N.A.
015 B001549 S
015 C011549 LIMA
015 D011549 PERU
015 E041549 X
015 A001550 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001550 S
015 C011550 MANILA
015 D011550 PHILIPPINES
015 E041550 X
015 A001551 BANK HANDLOWY W. WARZAWIE, S.A.
015 B001551 S
015 C011551 WARSAW
015 D011551 POLAND
015 E041551 X
015 A001552 BANCO COMERCIAL PORTUGUES
015 B001552 S
015 C011552 LISBON
015 D011552 PORTUGAL
015 E041552 X
015 A001553 UNITED OVERSEAS BANK LIMITED
015 B001553 S
015 C011553 SINGAPORE
015 D011553 SINGAPORE
015 E041553 X
015 A001554 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B001554 S
015 C011554 SINGAPORE
015 D011554 SINGAPORE
015 E041554 X
015 A001555 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001555 S
015 C011555 BRATISLAVA
015 D011555 SLOVAK REPUBLIC
015 E041555 X
<PAGE> PAGE 172
015 A001556 STANDARD CORPORATE AND MERCHANT BANK
015 B001556 S
015 C011556 JOHANNESBURG
015 D011556 SOUTH AFRICA
015 E041556 X
015 A001557 SEOULBANK
015 B001557 S
015 C011557 SEOUL
015 D011557 SOUTH KOREA
015 E041557 X
015 A001558 BANCO BILBAO VIZCAYA
015 B001558 S
015 C011558 MADRID
015 D011558 SPAIN
015 E041558 X
015 A001559 STANDARD CHARTERED BANK
015 B001559 S
015 C011559 COLOMBO
015 D011559 SRI LANKA
015 E041559 X
015 A001560 STANBIC BANK SWAZILAND LTD.
015 B001560 S
015 C011560 MBABANE
015 D011560 SWAZILAND
015 E041560 X
015 A001561 SKANDINAVISKA ENSKILDA BANKEN
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015 C011561 STOCKHOLM
015 D011561 SWEDEN
015 E041561 X
015 A001562 UNION BANK OF SWITZERLAND
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015 C011562 ZURICH
015 D011562 SWITZERLAND
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015 A001563 BANK LEU LTD.
015 B001563 S
015 C011563 ZURICH
015 D011563 SWITZERLAND
015 E041563 X
015 A001564 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001564 S
015 C011564 TAIPEI
015 D011564 TAIWAN
015 E041564 X
015 A001565 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B001565 S
015 C011565 BANGKOK
015 D011565 THAILAND
015 E041565 X
015 A001566 BANGKOK BANK PUBLIC COMPANY LTD.
<PAGE> PAGE 173
015 B001566 S
015 C011566 BANGKOK
015 D011566 THAILAND
015 E041566 X
015 A001567 CITIBANK, N.A.
015 B001567 S
015 C011567 ISTANBUL
015 D011567 TURKEY
015 E041567 X
015 A001568 THE BANK OF NEW YORK
015 B001568 S
015 C011568 LONDON
015 D011568 UNITED KINGDOM
015 E041568 X
015 A001569 FIRST CHICAGO CLEARING CENTRE
015 B001569 S
015 C011569 LONDON
015 D011569 UNITED KINGDOM
015 E041569 X
015 A001570 THE FIRST NATIONAL BANK OF BOSTON
015 B001570 S
015 C011570 MONTEVIDEO
015 D011570 URUGUAY
015 E041570 X
015 A001571 CITIBANK, N.A.
015 B001571 S
015 C011571 CARACAS
015 D011571 VENEZUELA
015 E041571 X
015 A001572 STANBIC BANK ZAMBIA LIMITED
015 B001572 S
015 C011572 LUSAKA
015 D011572 ZAMBIA
015 E041572 X
015 A001573 STANBIC BANK ZIMBABWE LIMITED
015 B001573 S
015 C011573 HARARE
015 D011573 ZIMBABWE
015 E041573 X
024 001500 N
025 D001501 0
025 D001502 0
025 D001503 0
025 D001504 0
025 D001505 0
025 D001506 0
025 D001507 0
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<PAGE> PAGE 174
028 A041500 0
028 B011500 0
028 B021500 0
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028 B041500 0
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028 C031500 0
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028 G031500 0
028 G041500 0
028 H001500 0
045 001500 Y
046 001500 N
047 001500 Y
048 001500 0.000
048 A011500 100000
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048 B011500 150000
048 B021500 0.500
048 C011500 9750000
048 C021500 0.450
048 D011500 2500000
048 D021500 0.440
048 E011500 2500000
048 E021500 0.420
048 F011500 0
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048 G021500 0.000
048 H011500 0
048 H021500 0.000
048 I011500 0
048 I021500 0.000
048 J011500 0
048 J021500 0.000
048 K011500 15000000
<PAGE> PAGE 175
048 K021500 0.400
049 001500 N
050 001500 N
051 001500 N
052 001500 N
053 A001500 N
054 A001500 Y
054 B001500 Y
054 C001500 Y
054 D001500 N
054 E001500 N
054 F001500 N
054 G001500 Y
054 H001500 Y
054 I001500 N
054 J001500 Y
054 K001500 N
054 L001500 Y
054 M001500 Y
054 N001500 N
054 O001500 N
055 A001500 N
055 B001500 N
056 001500 N
057 001500 N
058 A001500 Y
058 B001500 Y
058 C001500 Y
058 D001500 Y
058 E001500 N
059 001500 Y
060 A001500 Y
060 B001500 Y
061 001500 2000
062 A001500 Y
062 B001500 0.0
062 C001500 0.0
062 D001500 0.0
062 E001500 0.0
062 F001500 0.0
062 G001500 0.0
062 H001500 0.0
062 I001500 0.0
062 J001500 0.0
062 K001500 0.0
062 L001500 0.0
062 M001500 0.0
062 N001500 0.0
062 O001500 0.0
062 P001500 0.0
062 Q001500 0.0
<PAGE> PAGE 176
062 R001500 0.0
063 A001500 0
063 B001500 0.0
064 A001500 N
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 N
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 0
071 B001500 0
071 C001500 0
071 D001500 0
072 A001500 12
<PAGE> PAGE 177
072 B001500 0
072 C001500 0
072 D001500 0
072 E001500 0
072 F001500 0
072 G001500 0
072 H001500 0
072 I001500 0
072 J001500 0
072 K001500 0
072 L001500 0
072 M001500 0
072 N001500 0
072 O001500 0
072 P001500 0
072 Q001500 0
072 R001500 0
072 S001500 0
072 T001500 0
072 U001500 0
072 V001500 0
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072DD021500 0
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073 A011500 0.0000
073 A021500 0.0000
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073 C001500 0.0000
074 A001500 0
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074 D001500 0
074 E001500 0
074 F001500 0
074 G001500 0
074 H001500 0
074 I001500 0
074 J001500 0
074 K001500 0
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074 M001500 0
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<PAGE> PAGE 178
074 P001500 0
074 Q001500 0
074 R011500 0
074 R021500 0
074 R031500 0
074 R041500 0
074 S001500 0
074 T001500 0
074 U011500 0
074 U021500 0
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008 A001601 FRANKLIN ADVISORY SERVICES, INC.
008 B001601 A
008 C001601 801-51967
008 D011601 FORT LEE
008 D021601 NJ
008 D031601 07024
015 A001601 BANK OF NEW YORK
015 B001601 C
015 C011601 NEW YORK
015 C021601 NY
015 C031601 10286
015 E011601 X
015 A001602 THE BANK OF BOSTON
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 STANDARD CHARTERED BANK PLC
015 B001605 S
015 C011605 DHAKA
015 D011605 BANGLADESH
015 E041605 X
015 A001606 BANQUE BRUXELLES LAMBERT
<PAGE> PAGE 179
015 B001606 S
015 C011606 BRUSSELS
015 D011606 BELGIUM
015 E041606 X
015 A001607 STANBIC BANK BOTSWANA LTD.
015 B001607 S
015 C011607 GABARONE
015 D011607 BOTSWANA
015 E041607 X
015 A001608 THE FIRST NATIONAL BANK OF BOSTON
015 B001608 S
015 C011608 SAO PAULO
015 D011608 BRAZIL
015 E041608 X
015 A001609 ROYAL BANK OF CANADA
015 B001609 S
015 C011609 MONTREAL
015 D011609 CANADA
015 E041609 X
015 A001610 THE FIRST NATIONAL BANK OF BOSTON
015 B001610 S
015 C011610 SANTIAGO
015 D011610 CHILE
015 E041610 X
015 A001611 BANCO DE CHILE
015 B001611 S
015 C011611 SANTIAGO
015 D011611 CHILE
015 E041611 X
015 A001612 THE STANDARD CHARTERED BANK, HONG KONG
015 B001612 S
015 C011612 HONG KONG
015 D011612 CHINA
015 E041612 X
015 A001613 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B001613 S
015 C011613 BOGOTA
015 D011613 COLOMBIA
015 E041613 X
015 A001614 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001614 S
015 C011614 PRAHA
015 D011614 CZECH REPUBLIC
015 E041614 X
015 A001615 DEN DANSKE BANK
015 B001615 S
015 C011615 COPENHAGEN
015 D011615 DENMARK
015 E041615 X
015 A001616 CITIBANK, N.A.
015 B001616 S
<PAGE> PAGE 180
015 C011616 QUITO
015 D011616 ECUADOR
015 E041616 X
015 A001617 CITIBANK, N.A.-EGYPT BRANCH
015 B001617 S
015 C011617 CAIRO
015 D011617 EGYPT
015 E041617 X
015 A001618 MERITA BANK LTD.
015 B001618 S
015 C011618 HELSINKI
015 D011618 FINLAND
015 E041618 X
015 A001619 BANQUE PARIBAS
015 B001619 S
015 C011619 PARIS
015 D011619 FRANCE
015 E041619 X
015 A001620 CREDIT COMMERCIAL DE FRANCE
015 B001620 S
015 C011620 PARIS
015 D011620 FRANCE
015 E041620 X
015 A001621 DRESDNER BANK A.G.
015 B001621 S
015 C011621 FRANKFURT
015 D011621 GERMANY
015 E041621 X
015 A001622 MERCHANT BANK LTD.
015 B001622 S
015 C011622 ACCRA
015 D011622 GHANA
015 E041622 X
015 A001623 NATIONAL BANK OF GREECE S.A.
015 B001623 S
015 C011623 ATHENS
015 D011623 GREECE
015 E041623 X
015 A001624 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001624 S
015 C011624 HONG KONG
015 D011624 HONG KONG
015 E041624 X
015 A001625 CITIBANK BUDAPEST RT.
015 B001625 S
015 C011625 BUDAPEST
015 D011625 HUNGARY
015 E041625 X
015 A001626 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001626 S
015 C011626 MUMBAI
<PAGE> PAGE 181
015 D011626 INDIA
015 E041626 X
015 A001627 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001627 S
015 C011627 JAKARTA
015 D011627 INDONESIA
015 E041627 X
015 A001628 ALLIED IRISH BANKS, PLC
015 B001628 S
015 C011628 DUBLIN
015 D011628 IRELAND
015 E041628 X
015 A001629 BANK LEUMI LE-ISRAEL B.M.
015 B001629 S
015 C011629 TEL AVIV
015 D011629 ISRAEL
015 E041629 X
015 A001630 BANCA COMMERCIALE ITALIANA
015 B001630 S
015 C011630 MILAN
015 D011630 ITALY
015 E041630 X
015 A001631 BANQUE PARIBAS
015 B001631 S
015 C011631 MILAN
015 D011631 ITALY
015 E041631 X
015 A001632 JASDEC
015 B001632 S
015 C011632 TOKYO
015 D011632 JAPAN
015 E041632 X
015 A001633 BANK OF TOKYO MITSUBISHI
015 B001633 S
015 C011633 TOKYO
015 D011633 JAPAN
015 E041633 X
015 A001634 THE BRITISH BANK OF THE MIDDLE EAST
015 B001634 S
015 C011634 AMMAN
015 D011634 JORDAN
015 E041634 X
015 A001635 STANBIC BANK KENYA LTD.
015 B001635 S
015 C011635 NAIROBI
015 D011635 KENYA
015 E041635 X
015 A001636 CEDEL
015 B001636 S
015 C011636 LUXEMBOURG CITY
015 D011636 LUXEMBOURG
<PAGE> PAGE 182
015 E041636 X
015 A001637 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001637 S
015 C011637 LUXEMBOURG CITY
015 D011637 LUXEMBOURG
015 E041637 X
015 A001638 THE HONGKONG BANK MALAYSIA BERHAD
015 B001638 S
015 C011638 KUALA LUMPUR
015 D011638 MALAYSIA
015 E041638 X
015 A001639 BANCO NACIONAL DE MEXICO
015 B001639 S
015 C011639 MEXICO CITY
015 D011639 MEXICO
015 E041639 X
015 A001640 BANQUE COMMERCIALE DU MAROC
015 B001640 S
015 C011640 CASABLANCA
015 D011640 MOROCCO
015 E041640 X
015 A001641 STANBIC BANK NAMIBIA LTD.
015 B001641 S
015 C011641 WINDHOEK
015 D011641 NAMIBIA
015 E041641 X
015 A001642 KAS-ASSOCIATIE NV
015 B001642 S
015 C011642 AMSTERDAM
015 D011642 NETHERLANDS
015 E041642 X
015 A001643 MEESPIERSON NV
015 B001643 S
015 C011643 AMSTERDAM
015 D011643 NETHERLANDS
015 E041643 X
015 A001644 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
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015 C011644 WELLINGTON
015 D011644 NEW ZEALAND
015 E041644 X
015 A001645 STANBIC MERCHANT BANK NIGERIA LTD.
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015 A001646 DEN NORSKE BANK ASA
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015 C011646 OSLO
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015 E041646 X
<PAGE> PAGE 183
015 A001647 STANDARD CHARTERED BANK
015 B001647 S
015 C011647 KARACHI
015 D011647 PAKISTAN
015 E041647 X
015 A001648 CITIBANK, N.A.
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015 C011648 LIMA
015 D011648 PERU
015 E041648 X
015 A001649 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
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015 A001651 BANCO COMERCIAL PORTUGUES, S.A.
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015 A001652 UNITED OVERSEAS BANK LTD.
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015 E041652 X
015 A001653 DEVELOPMENT BANK OF SINGAPORE LTD.
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015 D011653 SINGAPORE
015 E041653 X
015 A001654 CESKOSLOVENSKA OBCHODNA BANKA, AS
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015 D011655 SOUTH AFRICA
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015 A001656 SEOULBANK
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015 C011656 SEOUL
015 D011656 SOUTH KOREA
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015 A001657 BANCO BILBAO VIZCAYA
<PAGE> PAGE 184
015 B001657 S
015 C011657 MADRID
015 D011657 SPAIN
015 E041657 X
015 A001658 STANDARD CHARTERED BANK
015 B001658 S
015 C011658 COLOMBO
015 D011658 SRI LANKA
015 E041658 X
015 A001659 STANBIC BANK OF SWAZILAND LTD.
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015 C011659 MBABANE
015 D011659 SWAZILAND
015 E041659 X
015 A001660 SKANDINAVISKA ENSKILDA BANKEN
015 B001660 S
015 C011660 STOCKHOLM
015 D011660 SWEDEN
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015 A001661 UNION BANK OF SWITZERLAND
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015 C011661 ZURICH
015 D011661 SWITZERLAND
015 E041661 X
015 A001662 BANK LEU LTD.
015 B001662 S
015 C011662 ZURICH
015 D011662 SWITZERLAND
015 E041662 X
015 A001663 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
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015 A001667 THE BANK OF NEW YORK
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<PAGE> PAGE 185
015 C011667 LONDON
015 D011667 UNITED KINGDOM
015 E041667 X
015 A001668 FIRST CHICAGO CLEARING CENTRE
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015 C011668 LONDON
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015 A001669 THE FIRST NATIONAL BANK OF BOSTON
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015 A001670 CITIBANK, N.A.
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015 D011671 ZAMBIA
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015 A001672 STANBIC BANK ZIMBABWE LTD.
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024 001600 N
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028 B031600 0
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<PAGE> PAGE 186
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028 F031600 0
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028 G031600 0
028 G041600 97509
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045 001600 Y
046 001600 N
047 001600 Y
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048 A011600 500000
048 A021600 0.750
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048 B021600 0.625
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048 D021600 0.000
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048 E021600 0.000
048 F011600 0
048 F021600 0.000
048 G011600 0
048 G021600 0.000
048 H011600 0
048 H021600 0.000
048 I011600 0
048 I021600 0.000
048 J011600 0
048 J021600 0.000
048 K011600 1000000
048 K021600 0.500
049 001600 N
050 001600 N
051 001600 N
052 001600 N
053 A001600 N
<PAGE> PAGE 187
054 A001600 Y
054 B001600 Y
054 C001600 Y
054 D001600 N
054 E001600 N
054 F001600 N
054 G001600 Y
054 H001600 Y
054 I001600 N
054 J001600 Y
054 K001600 N
054 L001600 Y
054 M001600 Y
054 N001600 N
054 O001600 N
055 A001600 N
055 B001600 N
056 001600 N
057 001600 N
058 A001600 Y
058 B001600 Y
058 C001600 Y
058 D001600 Y
058 E001600 N
059 001600 Y
060 A001600 Y
060 B001600 Y
061 001600 2000
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 I001600 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 Y
<PAGE> PAGE 188
066 D001600 N
066 E001600 N
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 Y
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 N
070 O021600 N
070 P011600 Y
070 P021600 N
070 Q011600 N
070 Q021600 N
070 R011600 N
070 R021600 N
071 A001600 248171
071 B001600 250457
071 C001600 670055
071 D001600 37
072 A001600 12
072 B001600 972
072 C001600 12717
<PAGE> PAGE 189
072 D001600 0
072 E001600 0
072 F001600 4942
072 G001600 0
072 H001600 0
072 I001600 0
072 J001600 7
072 K001600 56
072 L001600 44
072 M001600 4
072 N001600 7
072 O001600 0
072 P001600 0
072 Q001600 0
072 R001600 18
072 S001600 6
072 T001600 0
072 U001600 0
072 V001600 0
072 W001600 7
072 X001600 5091
072 Y001600 0
072 Z001600 8598
072AA001600 107289
072BB001600 1904
072CC011600 80215
072CC021600 0
072DD011600 9957
072DD021600 0
072EE001600 17001
073 A011600 0.2609
073 A021600 0.0000
073 B001600 0.4455
073 C001600 0.0000
074 A001600 161
074 B001600 9991
074 C001600 0
074 D001600 0
074 E001600 1380
074 F001600 763275
074 G001600 0
074 H001600 0
074 I001600 0
074 J001600 4616
074 K001600 0
074 L001600 1357
074 M001600 0
074 N001600 780780
074 O001600 0
074 P001600 461
074 Q001600 0
<PAGE> PAGE 190
074 R011600 0
074 R021600 0
074 R031600 0
074 R041600 21
074 S001600 0
074 T001600 780298
074 U011600 39640
074 U021600 0
074 V011600 19.68
074 V021600 0.00
074 W001600 0.0000
074 X001600 3
074 Y001600 0
075 A001600 0
075 B001600 690929
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 94404
008 D041701 1585
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 NEW YORK
015 B001701 C
015 C011701 NEW YORK
015 C021701 NY
015 C031701 10286
015 E011701 X
015 A001702 THE BANK OF BOSTON
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
015 E041704 X
<PAGE> PAGE 191
015 A001705 STANDARD CHARTERED BANK PLC
015 B001705 S
015 C011705 DHAKA
015 D011705 BANGLADESH
015 E041705 X
015 A001706 BANQUE BRUXELLES LAMBERT
015 B001706 S
015 C011706 BRUSSELS
015 D011706 BELGIUM
015 E041706 X
015 A001707 STANBIC BANK BOTSWANA LTD.
015 B001707 S
015 C011707 GABARONE
015 D011707 BOTSWANA
015 E041707 X
015 A001708 THE FIRST NATIONAL BANK OF BOSTON
015 B001708 S
015 C011708 SAO PAULO
015 D011708 BRAZIL
015 E041708 X
015 A001709 ROYAL BANK OF CANADA
015 B001709 S
015 C011709 MONTREAL
015 D011709 CANADA
015 E041709 X
015 A001710 THE FIRST NATIONAL BANK OF BOSTON
015 B001710 S
015 C011710 SANTIAGO
015 D011710 CHILE
015 E041710 X
015 A001711 BANCO DE CHILE
015 B001711 S
015 C011711 SANTIAGO
015 D011711 CHILE
015 E041711 X
015 A001712 THE STANDARD CHARTERED BANK, HONG KONG
015 B001712 S
015 C011712 HONG KONG
015 D011712 CHINA
015 E041712 X
015 A001713 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B001713 S
015 C011713 BOGOTA
015 D011713 COLOMBIA
015 E041713 X
015 A001714 CESKOSLOVENSKA OBCHODNA BANKA, A.S.
015 B001714 S
015 C011714 PRAHA
015 D011714 CZECH REPUBLIC
015 E041714 X
015 A001715 DEN DANSKE BANK
<PAGE> PAGE 192
015 B001715 S
015 C011715 COPENHAGEN
015 D011715 DENMARK
015 E041715 X
015 A001716 CITIBANK, N.A.
015 B001716 S
015 C011716 QUITO
015 D011716 ECUADOR
015 E041716 X
015 A001717 CITIBANK, N.A.-EGYPT BRANCH
015 B001717 S
015 C011717 CAIRO
015 D011717 EGYPT
015 E041717 X
015 A001718 MERITA BANK LTD.
015 B001718 S
015 C011718 HELSINKI
015 D011718 FINLAND
015 E041718 X
015 A001719 BANQUE PARIBAS
015 B001719 S
015 C011719 PARIS
015 D011719 FRANCE
015 E041719 X
015 A001720 CREDIT COMMERCIAL DE FRANCE
015 B001720 S
015 C011720 PARIS
015 D011720 FRANCE
015 E041720 X
015 A001721 DRESDNER BANK A.G.
015 B001721 S
015 C011721 FRANKFURT
015 D011721 GERMANY
015 E041721 X
015 A001722 MERCHANT BANK LTD.
015 B001722 S
015 C011722 ACCRA
015 D011722 GHANA
015 E041722 X
015 A001723 NATIONAL BANK OF GREECE S.A.
015 B001723 S
015 C011723 ATHENS
015 D011723 GREECE
015 E041723 X
015 A001724 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001724 S
015 C011724 HONG KONG
015 D011724 HONG KONG
015 E041724 X
015 A001725 CITIBANK BUDAPEST RT.
015 B001725 S
<PAGE> PAGE 193
015 C011725 BUDAPEST
015 D011725 HUNGARY
015 E041725 X
015 A001726 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001726 S
015 C011726 MUMBAI
015 D011726 INDIA
015 E041726 X
015 A001727 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001727 S
015 C011727 JAKARTA
015 D011727 INDONESIA
015 E041727 X
015 A001728 ALLIED IRISH BANKS, PLC
015 B001728 S
015 C011728 DUBLIN
015 D011728 IRELAND
015 E041728 X
015 A001729 BANK LEUMI LE-ISRAEL B.M.
015 B001729 S
015 C011729 TEL AVIV
015 D011729 ISRAEL
015 E041729 X
015 A001730 BANCA COMMERCIALE ITALIANA
015 B001730 S
015 C011730 MILAN
015 D011730 ITALY
015 E041730 X
015 A001731 BANQUE PARIBAS
015 B001731 S
015 C011731 MILAN
015 D011731 ITALY
015 E041731 X
015 A001732 JASDEC
015 B001732 S
015 C011732 TOKYO
015 D011732 JAPAN
015 E041732 X
015 A001733 BANK OF TOKYO MITSUBISHI
015 B001733 S
015 C011733 TOKYO
015 D011733 JAPAN
015 E041733 X
015 A001734 THE BRITISH BANK OF THE MIDDLE EAST
015 B001734 S
015 C011734 AMMAN
015 D011734 JORDAN
015 E041734 X
015 A001735 STANBIC BANK KENYA LTD.
015 B001735 S
015 C011735 NAIROBI
<PAGE> PAGE 194
015 D011735 KENYA
015 E041735 X
015 A001736 CEDEL
015 B001736 S
015 C011736 LUXEMBOURG CITY
015 D011736 LUXEMBOURG
015 E041736 X
015 A001737 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001737 S
015 C011737 LUXEMBOURG CITY
015 D011737 LUXEMBOURG
015 E041737 X
015 A001738 THE HONGKONG BANK MALAYSIA BERHAD
015 B001738 S
015 C011738 KUALA LUMPUR
015 D011738 MALAYSIA
015 E041738 X
015 A001739 BANCO NACIONAL DE MEXICO
015 B001739 S
015 C011739 MEXICO CITY
015 D011739 MEXICO
015 E041739 X
015 A001740 BANQUE COMMERCIALE DU MAROC
015 B001740 S
015 C011740 CASABLANCA
015 D011740 MOROCCO
015 E041740 X
015 A001741 STANBIC BANK NAMIBIA LTD.
015 B001741 S
015 C011741 WINDHOEK
015 D011741 NAMIBIA
015 E041741 X
015 A001742 KAS-ASSOCIATIE NV
015 B001742 S
015 C011742 AMSTERDAM
015 D011742 NETHERLANDS
015 E041742 X
015 A001743 MEESPIERSON NV
015 B001743 S
015 C011743 AMSTERDAM
015 D011743 NETHERLANDS
015 E041743 X
015 A001744 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B001744 S
015 C011744 WELLINGTON
015 D011744 NEW ZEALAND
015 E041744 X
015 A001745 STANBIC MERCHANT BANK NIGERIA LTD.
015 B001745 S
015 C011745 LAGOS
015 D011745 NIGERIA
<PAGE> PAGE 195
015 E041745 X
015 A001746 DEN NORSKE BANK ASA
015 B001746 S
015 C011746 OSLO
015 D011746 NORWAY
015 E041746 X
015 A001747 STANDARD CHARTERED BANK
015 B001747 S
015 C011747 KARACHI
015 D011747 PAKISTAN
015 E041747 X
015 A001748 CITIBANK, N.A.
015 B001748 S
015 C011748 LIMA
015 D011748 PERU
015 E041748 X
015 A001749 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001749 S
015 C011749 PASIG CITY
015 D011749 PHILIPPINES
015 E041749 X
015 A001750 BANK HANDLOWY W. WARSZAWIE S.A.
015 B001750 S
015 C011750 WARSAW
015 D011750 POLAND
015 E041750 X
015 A001751 BANCO COMERCIAL PORTUGUES, S.A.
015 B001751 S
015 C011751 LISBON
015 D011751 PORTUGAL
015 E041751 X
015 A001752 UNITED OVERSEAS BANK LTD.
015 B001752 S
015 C011752 SINGAPORE
015 D011752 SINGAPORE
015 E041752 X
015 A001753 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B001753 S
015 C011753 SINGAPORE
015 D011753 SINGAPORE
015 E041753 X
015 A001754 CESKOSLOVENSKA OBCHODNAI BANKA, AS
015 B001754 S
015 C011754 BRATISLAVA
015 D011754 SLOVAK REPUBLIC
015 E041754 X
015 A001755 STANDARD CORPORATE AND MERCHANT BANK
015 B001755 S
015 C011755 JOHANNESBURG
015 D011755 SOUTH AFRICA
015 E041755 X
<PAGE> PAGE 196
015 A001756 SEOULBANK
015 B001756 S
015 C011756 SEOUL
015 D011756 SOUTH KOREA
015 E041756 X
015 A001757 BANCO BILBAO VIZCAYA
015 B001757 S
015 C011757 MADRID
015 D011757 SPAIN
015 E041757 X
015 A001758 STANDARD CHARTERED BANK
015 B001758 S
015 C011758 COLOMBO
015 D011758 SRI LANKA
015 E041758 X
015 A001759 STANBIC BANK OF SWAZILAND LTD.
015 B001759 S
015 C011759 MBABANE
015 D011759 SWAZILAND
015 E041759 X
015 A001760 SKANDINAVISKA ENSKILDA BANKEN
015 B001760 S
015 C011760 STOCKHOLM
015 D011760 SWEDEN
015 E041760 X
015 A001761 UNION BANK OF SWITZERLAND
015 B001761 S
015 C011761 ZURICH
015 D011761 SWITZERLAND
015 E041761 X
015 A001762 BANK LEU LTD.
015 B001762 S
015 C011762 ZURICH
015 D011762 SWITZERLAND
015 E041762 X
015 A001763 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001763 S
015 C011763 TAIPEI
015 D011763 TAIWAN
015 E041763 X
015 A001764 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B001764 S
015 C011764 BANGKOK
015 D011764 THAILAND
015 E041764 X
015 A001765 BANGKOK BANK PUBLIC COMPANY LTD.
015 B001765 S
015 C011765 BANGKOK
015 D011765 THAILAND
015 E041765 X
015 A001766 OSMANLI BANKASI A.S.
<PAGE> PAGE 197
015 B001766 S
015 C011766 ISTANBUL
015 D011766 TURKEY
015 E041766 X
015 A001767 THE BANK OF NEW YORK
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015 D011767 UNITED KINGDOM
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015 D011773 PHILIPPINES
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015 A001774 DELETE
015 A001775 DELETE
015 A001776 DELETE
015 A001777 DELETE
015 A001778 DELETE
015 A001779 DELETE
015 A001780 DELETE
015 A001781 DELETE
015 A001782 DELETE
015 A001783 DELETE
015 A001784 DELETE
015 A001785 DELETE
<PAGE> PAGE 198
015 A001786 DELETE
015 A001787 DELETE
015 A001788 DELETE
015 A001789 DELETE
015 A001790 DELETE
015 A001791 DELETE
015 A001792 DELETE
015 A001793 DELETE
015 A001794 DELETE
015 A001795 DELETE
015 A001796 DELETE
015 A001797 DELETE
015 A001798 DELETE
024 001700 N
025 D001701 0
025 D001702 0
025 D001703 0
025 D001704 0
025 D001705 0
025 D001706 0
025 D001707 0
025 D001708 0
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028 D011700 7932
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028 E011700 6271
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028 F041700 11141
028 G011700 43858
028 G021700 0
028 G031700 0
028 G041700 87202
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<PAGE> PAGE 199
045 001700 Y
046 001700 N
047 001700 Y
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048 A011700 100000
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048 B011700 150000
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048 C011700 250000
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048 E021700 0.000
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048 F021700 0.000
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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
052 001700 N
053 A001700 N
054 A001700 Y
054 B001700 Y
054 C001700 Y
054 D001700 N
054 E001700 N
054 F001700 N
054 G001700 Y
054 H001700 Y
054 I001700 N
054 J001700 Y
054 K001700 N
054 L001700 Y
054 M001700 Y
054 N001700 N
054 O001700 N
055 A001700 Y
055 B001700 N
056 001700 Y
057 001700 N
058 A001700 Y
<PAGE> PAGE 200
058 B001700 Y
058 C001700 Y
058 D001700 Y
058 E001700 N
059 001700 Y
060 A001700 Y
060 B001700 Y
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062 D001700 0.0
062 E001700 0.0
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062 H001700 0.0
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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
<PAGE> PAGE 201
070 G011700 Y
070 G021700 N
070 H011700 Y
070 H021700 N
070 I011700 N
070 I021700 N
070 J011700 Y
070 J021700 Y
070 K011700 Y
070 K021700 Y
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
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071 B001700 112695
071 C001700 275634
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072 L001700 27
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<PAGE> PAGE 202
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008 A001801 FRANKLIN ADVISERS, INC.
008 B001801 A
008 C001801 801-26292
008 D011801 SAN MATEO
<PAGE> PAGE 203
008 D021801 CA
008 D031801 94404
008 D041801 1585
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 NEW YORK
015 B001801 C
015 C011801 NEW YORK
015 C021801 NY
015 C031801 10286
015 E011801 X
015 A001802 THE BANK OF BOSTON
015 B001802 S
015 C011802 BUENOS AIRES
015 D011802 ARGENTINA
015 E041802 X
015 A001803 NATIONAL AUSTRALIA BANK LTD.
015 B001803 S
015 C011803 MELBOURNE
015 D011803 AUSTRALIA
015 E041803 X
015 A001804 CREDITANSTALT BANKVEREIN
015 B001804 S
015 C011804 VIENNA
015 D011804 AUSTRIA
015 E041804 X
015 A001805 STANDARD CHARTERED BANK PLC
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015 C011805 DHAKA
015 D011805 BANGLADESH
015 E041805 X
015 A001806 BANQUE BRUXELLES LAMBERT
015 B001806 S
015 C011806 BRUSSELS
015 D011806 BELGIUM
015 E041806 X
015 A001807 STANBIC BANK BOTSWANA LTD.
015 B001807 S
015 C011807 GABARONE
015 D011807 BOTSWANA
015 E041807 X
015 A001808 THE FIRST NATIONAL BANK OF BOSTON
015 B001808 S
015 C011808 SAO PAULO
015 D011808 BRAZIL
015 E041808 X
<PAGE> PAGE 204
015 A001809 ROYAL BANK OF CANADA
015 B001809 S
015 C011809 MONTREAL
015 D011809 CANADA
015 E041809 X
015 A001810 THE FIRST NATIONAL BANK OF BOSTON
015 B001810 S
015 C011810 SANTIAGO
015 D011810 CHILE
015 E041810 X
015 A001811 BANCO DE CHILE
015 B001811 S
015 C011811 SANTIAGO
015 D011811 CHILE
015 E041811 X
015 A001812 THE STANDARD CHARTERED BANK, HONG KONG
015 B001812 S
015 C011812 HONG KONG
015 D011812 CHINA
015 E041812 X
015 A001813 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B001813 S
015 C011813 BOGOTA
015 D011813 COLOMBIA
015 E041813 X
015 A001814 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001814 S
015 C011814 PRAHA
015 D011814 CZECH REPUBLIC
015 E041814 X
015 A001815 DEN DANSKE BANK
015 B001815 S
015 C011815 COPENHAGEN
015 D011815 DENMARK
015 E041815 X
015 A001816 CITIBANK, N.A.
015 B001816 S
015 C011816 QUITO
015 D011816 ECUADOR
015 E041816 X
015 A001817 CITIBANK, N.A.-EGYPT BRANCH
015 B001817 S
015 C011817 CAIRO
015 D011817 EGYPT
015 E041817 X
015 A001818 MERITA BANK LTD.
015 B001818 S
015 C011818 HELSINKI
015 D011818 FINLAND
015 E041818 X
015 A001819 BANQUE PARIBAS
<PAGE> PAGE 205
015 B001819 S
015 C011819 PARIS
015 D011819 FRANCE
015 E041819 X
015 A001820 CREDIT COMMERCIAL DE FRANCE
015 B001820 S
015 C011820 PARIS
015 D011820 FRANCE
015 E041820 X
015 A001821 DRESDNER BANK A.G.
015 B001821 S
015 C011821 FRANKFURT
015 D011821 GERMANY
015 E041821 X
015 A001822 MERCHANT BANK LTD.
015 B001822 S
015 C011822 ACCRA
015 D011822 GHANA
015 E041822 X
015 A001823 NATIONAL BANK OF GREECE S.A.
015 B001823 S
015 C011823 ATHENS
015 D011823 GREECE
015 E041823 X
015 A001824 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001824 S
015 C011824 HONG KONG
015 D011824 HONG KONG
015 E041824 X
015 A001825 CITIBANK BUDAPEST RT.
015 B001825 S
015 C011825 BUDAPEST
015 D011825 HUNGARY
015 E041825 X
015 A001826 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001826 S
015 C011826 MUMBAI
015 D011826 INDIA
015 E041826 X
015 A001827 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001827 S
015 C011827 JAKARTA
015 D011827 INDONESIA
015 E041827 X
015 A001828 ALLIED IRISH BANKS, PLC
015 B001828 S
015 C011828 DUBLIN
015 D011828 IRELAND
015 E041828 X
015 A001829 BANK LEUMI LE-ISRAEL B.M.
015 B001829 S
<PAGE> PAGE 206
015 C011829 TEL AVIV
015 D011829 ISRAEL
015 E041829 X
015 A001830 BANCA COMMERCIALE ITALIANA
015 B001830 S
015 C011830 MILAN
015 D011830 ITALY
015 E041830 X
015 A001831 BANQUE PARIBAS
015 B001831 S
015 C011831 MILAN
015 D011831 ITALY
015 E041831 X
015 A001832 JASDEC
015 B001832 S
015 C011832 TOKYO
015 D011832 JAPAN
015 E041832 X
015 A001833 BANK OF TOKYO MITSUBISHI
015 B001833 S
015 C011833 TOKYO
015 D011833 JAPAN
015 E041833 X
015 A001834 THE BRITISH BANK OF THE MIDDLE EAST
015 B001834 S
015 C011834 AMMAN
015 D011834 JORDAN
015 E041834 X
015 A001835 STANBIC BANK KENYA LTD.
015 B001835 S
015 C011835 NAIROBI
015 D011835 KENYA
015 E041835 X
015 A001836 CEDEL
015 B001836 S
015 C011836 LUXEMBOURG CITY
015 D011836 LUXEMBOURG
015 E041836 X
015 A001837 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001837 S
015 C011837 LUXEMBOURG CITY
015 D011837 LUXEMBOURG
015 E041837 X
015 A001838 THE HONGKONG BANK MALAYSIA BERHAD
015 B001838 S
015 C011838 KUALA LUMPUR
015 D011838 MALAYSIA
015 E041838 X
015 A001839 BANCO NACIONAL DE MEXICO
015 B001839 S
015 C011839 MEXICO CITY
<PAGE> PAGE 207
015 D011839 MEXICO
015 E041839 X
015 A001840 BANQUE COMMERCIALE DU MAROC
015 B001840 S
015 C011840 CASABLANCA
015 D011840 MOROCCO
015 E041840 X
015 A001841 STANBIC BANK NAMIBIA LTD.
015 B001841 S
015 C011841 WINDHOEK
015 D011841 NAMIBIA
015 E041841 X
015 A001842 KAS-ASSOCIATIE NV
015 B001842 S
015 C011842 AMSTERDAM
015 D011842 NETHERLANDS
015 E041842 X
015 A001843 MEESPIERSON NV
015 B001843 S
015 C011843 AMSTERDAM
015 D011843 NETHERLANDS
015 E041843 X
015 A001844 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B001844 S
015 C011844 WELLINGTON
015 D011844 NEW ZEALAND
015 E041844 X
015 A001845 STANBIC MERCHANT BANK NIGERIA LTD.
015 B001845 S
015 C011845 LAGOS
015 D011845 NIGERIA
015 E041845 X
015 A001846 DEN NORSKE BANK ASA
015 B001846 S
015 C011846 OSLO
015 D011846 NORWAY
015 E041846 X
015 A001847 STANDARD CHARTERED BANK
015 B001847 S
015 C011847 KARACHI
015 D011847 PAKISTAN
015 E041847 X
015 A001848 CITIBANK, N.A.
015 B001848 S
015 C011848 LIMA
015 D011848 PERU
015 E041848 X
015 A001849 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001849 S
015 C011849 PASIG CITY
015 D011849 PHILIPPINES
<PAGE> PAGE 208
015 E041849 X
015 A001850 BANK HANDLOWY W. WARSZAWIE S.A.
015 B001850 S
015 C011850 WARSAW
015 D011850 POLAND
015 E041850 X
015 A001851 BANCO COMERCIAL PORTUGUES, S.A.
015 B001851 S
015 C011851 LISBON
015 D011851 PORTUGAL
015 E041851 X
015 A001852 UNITED OVERSEAS BANK LTD.
015 B001852 S
015 C011852 SINGAPORE
015 D011852 SINGAPORE
015 E041852 X
015 A001853 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B001853 S
015 C011853 SINGAPORE
015 D011853 SINGAPORE
015 E041853 X
015 A001854 CESKOSLOVENSKA OBCHODNA BANKA, AS
015 B001854 S
015 C011854 BRATISLAVA
015 D011854 SLOVAK REPUBLIC
015 E041854 X
015 A001855 STANDARD CORPORATE AND MERCHANT BANK
015 B001855 S
015 C011855 JOHANNESBURG
015 D011855 SOUTH AFRICA
015 E041855 X
015 A001856 SEOULBANK
015 B001856 S
015 C011856 SEOUL
015 D011856 SOUTH KOREA
015 E041856 X
015 A001857 BANCO BILBAO VIZCAYA
015 B001857 S
015 C011857 MADRID
015 D011857 SPAIN
015 E041857 X
015 A001858 STANDARD CHARTERED BANK
015 B001858 S
015 C011858 COLOMBO
015 D011858 SRI LANKA
015 E041858 X
015 A001859 STANBIC BANK OF SWAZILAND LTD.
015 B001859 S
015 C011859 MBABANE
015 D011859 SWAZILAND
015 E041859 X
<PAGE> PAGE 209
015 A001860 SKANDINAVISKA ENSKILDA BANKEN
015 B001860 S
015 C011860 STOCKHOLM
015 D011860 SWEDEN
015 E041860 X
015 A001861 UNION BANK OF SWITZERLAND
015 B001861 S
015 C011861 ZURICH
015 D011861 SWITZERLAND
015 E041861 X
015 A001862 BANK LEU LTD.
015 B001862 S
015 C011862 ZURICH
015 D011862 SWITZERLAND
015 E041862 X
015 A001863 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001863 S
015 C011863 TAIPEI
015 D011863 TAIWAN
015 E041863 X
015 A001864 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B001864 S
015 C011864 BANGKOK
015 D011864 THAILAND
015 E041864 X
015 A001865 BANGKOK BANK PUBLIC COMPANY LTD.
015 B001865 S
015 C011865 BANGKOK
015 D011865 THAILAND
015 E041865 X
015 A001866 OSMANLI BANKASI A.S.
015 B001866 S
015 C011866 ISTANBUL
015 D011866 TURKEY
015 E041866 X
015 A001867 THE BANK OF NEW YORK
015 B001867 S
015 C011867 LONDON
015 D011867 UNITED KINGDOM
015 E041867 X
015 A001868 FIRST CHICAGO CLEARING CENTRE
015 B001868 S
015 C011868 LONDON
015 D011868 UNITED KINGDOM
015 E041868 X
015 A001869 THE FIRST NATIONAL BANK OF BOSTON
015 B001869 S
015 C011869 MONTEVIDEO
015 D011869 URUGUAY
015 E041869 X
015 A001870 CITIBANK, N.A.
<PAGE> PAGE 210
015 B001870 S
015 C011870 CARACAS
015 D011870 VENEZUELA
015 E041870 X
015 A001871 STANBIC BANK ZAMBIA LTD.
015 B001871 S
015 C011871 LUSAKA
015 D011871 ZAMBIA
015 E041871 X
015 A001872 STANBIC BANK ZIMBABWE LTD.
015 B001872 S
015 C011872 HARARE
015 D011872 ZIMBABWE
015 E041872 X
015 A001873 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B001873 S
015 C011873 MAKATI CITY
015 D011873 PHILIPPINES
015 E041873 X
015 A001874 DELETE
015 A001875 DELETE
015 A001876 DELETE
015 A001877 DELETE
015 A001878 DELETE
015 A001879 DELETE
015 A001880 DELETE
015 A001881 DELETE
015 A001882 DELETE
015 A001883 DELETE
015 A001884 DELETE
015 A001885 DELETE
015 A001886 DELETE
015 A001887 DELETE
015 A001888 DELETE
015 A001889 DELETE
015 A001890 DELETE
015 A001891 DELETE
015 A001892 DELETE
015 A001893 DELETE
015 A001894 DELETE
015 A001895 DELETE
015 A001896 DELETE
015 A001897 DELETE
015 A001898 DELETE
015 A001899 DELETE
024 001800 N
025 D001801 0
025 D001802 0
025 D001803 0
025 D001804 0
025 D001805 0
<PAGE> PAGE 211
025 D001806 0
025 D001807 0
025 D001808 0
028 A011800 23067
028 A021800 0
028 A031800 0
028 A041800 21948
028 B011800 15099
028 B021800 0
028 B031800 0
028 B041800 44585
028 C011800 27206
028 C021800 0
028 C031800 0
028 C041800 26441
028 D011800 27303
028 D021800 0
028 D031800 0
028 D041800 52740
028 E011800 21650
028 E021800 0
028 E031800 0
028 E041800 41834
028 F011800 24292
028 F021800 0
028 F031800 0
028 F041800 37059
028 G011800 138617
028 G021800 0
028 G031800 0
028 G041800 224607
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
<PAGE> PAGE 212
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
054 A001800 Y
054 B001800 Y
054 C001800 Y
054 D001800 N
054 E001800 N
054 F001800 N
054 G001800 Y
054 H001800 Y
054 I001800 N
054 J001800 Y
054 K001800 N
054 L001800 Y
054 M001800 Y
054 N001800 N
054 O001800 N
055 A001800 N
055 B001800 N
056 001800 Y
057 001800 N
058 A001800 Y
058 B001800 Y
058 C001800 Y
058 D001800 Y
058 E001800 N
059 001800 Y
060 A001800 Y
060 B001800 Y
061 001800 2000
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
<PAGE> PAGE 213
062 L001800 0.0
062 M001800 0.0
062 N001800 0.0
062 O001800 0.0
062 P001800 0.0
062 Q001800 0.0
062 R001800 0.0
063 A001800 0
063 B001800 0.0
066 A001800 Y
066 B001800 N
066 C001800 N
066 D001800 Y
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 Y
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
<PAGE> PAGE 214
070 P021800 N
070 Q011800 N
070 Q021800 N
070 R011800 N
070 R021800 N
071 A001800 276913
071 B001800 426442
071 C001800 1027037
071 D001800 27
072 A001800 12
072 B001800 9106
072 C001800 38098
072 D001800 0
072 E001800 0
072 F001800 9677
072 G001800 0
072 H001800 0
072 I001800 0
072 J001800 845
072 K001800 123
072 L001800 77
072 M001800 7
072 N001800 14
072 O001800 0
072 P001800 0
072 Q001800 0
072 R001800 4
072 S001800 7
072 T001800 0
072 U001800 0
072 V001800 0
072 W001800 14
072 X001800 10768
072 Y001800 0
072 Z001800 36436
072AA001800 133840
072BB001800 62784
072CC011800 24359
072CC021800 0
072DD011800 32476
072DD021800 0
072EE001800 49797
073 A011800 0.4500
073 A021800 0.0000
073 B001800 0.6900
073 C001800 0.0000
074 A001800 841
074 B001800 222050
074 C001800 12615
074 D001800 0
074 E001800 42132
<PAGE> PAGE 215
074 F001800 880369
074 G001800 0
074 H001800 0
074 I001800 0
074 J001800 2751
074 K001800 0
074 L001800 3872
074 M001800 0
074 N001800 1164630
074 O001800 52
074 P001800 787
074 Q001800 0
074 R011800 0
074 R021800 0
074 R031800 0
074 R041800 2361
074 S001800 0
074 T001800 1161430
074 U011800 72046
074 U021800 0
074 V011800 16.12
074 V021800 0.00
074 W001800 0.0000
074 X001800 3
074 Y001800 0
075 A001800 0
075 B001800 1210232
076 001800 0.00
008 A001901 TEMPLETON ASSET MANAGEMENT LTD.
008 B001901 A
008 C001901 801-46997
008 D011901 SUNTEC TOWER ONE
008 D051901 SINGAPORE
008 D061901 038987
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
015 B001902 S
015 C011902 BUENOS AIRES
015 D011902 ARGENTINA
015 E041902 X
015 A001903 THE CHASE MANHATTAN BANK
015 B001903 S
015 C011903 SYDNEY
015 D011903 AUSTRALIA
015 E041903 X
015 A001904 CREDITANSTALT-BANKVEREIN
<PAGE> PAGE 216
015 B001904 S
015 C011904 VIENNA
015 D011904 AUSTRIA
015 E041904 X
015 A001905 THE BRITISH BANK OF THE MIDDLE EAST
015 B001905 S
015 C011905 MANAMA
015 D011905 BAHRAIN
015 E041905 X
015 A001906 STANDARD CHARTERED BANK PLC
015 B001906 S
015 C011906 DHAKA
015 D011906 BANGLADESH
015 E041906 X
015 A001907 GENERALE BANK
015 B001907 S
015 C011907 BRUSSELS
015 D011907 BELGIUM
015 E041907 X
015 A001908 BARCLAYS BANK OF BOTSWANA LTD.
015 B001908 S
015 C011908 GABARONE
015 D011908 BOTSWANA
015 E041908 X
015 A001909 BANCO CHASE MANHATTAN, S.A.
015 B001909 S
015 C011909 SAO PAULO
015 D011909 BRAZIL
015 E041909 X
015 A001910 ROYAL BANK OF CANADA
015 B001910 S
015 C011910 TORONTO
015 D011910 CANADA
015 E041910 X
015 A001911 CANADA TRUSTCO MORTGAGE COMPANY
015 B001911 S
015 C011911 TORONTO
015 D011911 CANADA
015 E041911 X
015 A001912 THE CHASE MANHATTAN BANK
015 B001912 S
015 C011912 SANTIAGO
015 D011912 CHILE
015 E041912 X
015 A001913 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001913 S
015 C011913 SHENZHEN
015 D011913 CHINA
015 E041913 X
015 A001914 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001914 S
<PAGE> PAGE 217
015 C011914 SHANGHAI
015 D011914 CHINA
015 E041914 X
015 A001915 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B001915 S
015 C011915 SANTAFE DE BOGOTA
015 D011915 COLOMBIA
015 E041915 X
015 A001916 BARCLAYS BANK PLC
015 B001916 S
015 C011916 CYPRUS
015 D011916 CYPRUS
015 E041916 X
015 A001917 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001917 S
015 C011917 PRAGUE
015 D011917 CZECH REPUBLIC
015 E041917 X
015 A001918 DEN DANSKE BANK
015 B001918 S
015 C011918 COPENHAGEN
015 D011918 DENMARK
015 E041918 X
015 A001919 CITIBANK, N.A.
015 B001919 S
015 C011919 QUITO
015 D011919 ECUADOR
015 E041919 X
015 A001920 NATIONAL BANK OF EGYPT
015 B001920 S
015 C011920 CAIRO
015 D011920 EGYPT
015 E041920 X
015 A001921 MARITA BANK LTD.
015 B001921 S
015 C011921 HELSINKI
015 D011921 FINLAND
015 E041921 X
015 A001922 BANQUE PARIBAS
015 B001922 S
015 C011922 PARIS
015 D011922 FRANCE
015 E041922 X
015 A001923 DRESDNER BANK AG
015 B001923 S
015 C011923 FRANKFURT
015 D011923 GERMANY
015 E041923 X
015 A001924 BARCLAYS BANK OF GHANA LTD.
015 B001924 S
015 C011924 ACCRA
<PAGE> PAGE 218
015 D011924 GHANA
015 E041924 X
015 A001925 BARCLAYS BANK PLC
015 B001925 S
015 C011925 ATHENS
015 D011925 GREECE
015 E041925 X
015 A001926 THE CHASE MANHATTAN BANK
015 B001926 S
015 C011926 HONG KONG
015 D011926 HONG KONG
015 E041926 X
015 A001927 CITIBANK BUDAPEST RT.
015 B001927 S
015 C011927 BUDAPEST
015 D011927 HUNGARY
015 E041927 X
015 A001928 KELER LTD.
015 B001928 S
015 C011928 BUDAPEST
015 D011928 HUNGARY
015 E041928 X
015 A001929 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001929 S
015 C011929 BOMBAY
015 D011929 INDIA
015 E041929 X
015 A001930 DEUTSCHE BANK, A.G.
015 B001930 S
015 C011930 BOMBAY
015 D011930 INDIA
015 E041930 X
015 A001931 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001931 S
015 C011931 JAKARTA
015 D011931 INDONESIA
015 E041931 X
015 A001932 BANK OF IRELAND
015 B001932 S
015 C011932 DUBLIN
015 D011932 IRELAND
015 E041932 X
015 A001933 BANK LEUMI LE-ISRAEL, B.M.
015 B001933 S
015 C011933 TEL AVIV
015 D011933 ISRAEL
015 E041933 X
015 A001934 BANQUE PARIBUS, MILAN
015 B001934 S
015 C011934 MILAN
015 D011934 ITALY
<PAGE> PAGE 219
015 E041934 X
015 A001935 THE FUJI BANK LTD.
015 B001935 S
015 C011935 TOKYO
015 D011935 JAPAN
015 E041935 X
015 A001936 JASDEC
015 B001936 S
015 C011936 TOKYO
015 D011936 JAPAN
015 E041936 X
015 A001937 ARAB BANK, LTD.
015 B001937 S
015 C011937 AMMAN
015 D011937 JORDAN
015 E041937 X
015 A001938 BARCLAYS BANK OF KENYA LTD.
015 B001938 S
015 C011938 NAIROBI
015 D011938 KENYA
015 E041938 X
015 A001939 CEDEL SA
015 B001939 S
015 C011939 LUXEMBOURG CITY
015 D011939 LUXEMBOURG
015 E041939 X
015 A001940 BANQUE GENERALE DU LUXEMBOURG
015 B001940 S
015 C011940 LUXEMBOURG CITY
015 D011940 LUXEMBOURG
015 E041940 X
015 A001941 THE CHASE MANHATTAN BANK, BERHAD
015 B001941 S
015 C011941 KUALA LUMPUR
015 D011941 MALAYSIA
015 E041941 X
015 A001942 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001942 S
015 C011942 PORT LOUIS
015 D011942 MAURITIUS
015 E041942 X
015 A001943 CENTRAL DEPOSITORY AND SETTLEMENT CO., LTD.
015 B001943 S
015 C011943 PORT LOUIS
015 D011943 MAURITIUS
015 E041943 X
015 A001944 CHASE MANHATTAN BANK MEXICO S.A.
015 B001944 S
015 C011944 MEXICO CITY
015 D011944 MEXICO
015 E041944 X
<PAGE> PAGE 220
015 A001945 BANQUE COMMERCIALE DU MAROC
015 B001945 S
015 C011945 CASABLANCA
015 D011945 MOROCCO
015 E041945 X
015 A001946 STANBIC BANK NAMIBIA LTD.
015 B001946 S
015 C011946 WINDHOEK
015 D011946 NAMIBIA
015 E041946 X
015 A001947 ABN-AMRO BANK NV
015 B001947 S
015 C011947 AMSTERDAM
015 D011947 NETHERLANDS
015 E041947 X
015 A001948 NATIONAL NOMINEES LTD.
015 B001948 S
015 C011948 AUCKLAND
015 D011948 NEW ZEALAND
015 E041948 X
015 A001949 AUSTRACLEAR NEW ZEALAND
015 B001949 S
015 C011949 WELLINGTON
015 D011949 NEW ZEALAND
015 E041949 X
015 A001950 DEN NORSKE BANK
015 B001950 S
015 C011950 OSLO
015 D011950 NORWAY
015 E041950 X
015 A001951 THE BRITISH BANK OF THE MIDDLE EAST
015 B001951 S
015 C011951 MUSCAT
015 D011951 OMAN
015 E041951 X
015 A001952 CITIBANK, N.A.
015 B001952 S
015 C011952 KARACHI
015 D011952 PAKISTAN
015 E041952 X
015 A001953 DEUTSCHE BANK, A.G.
015 B001953 S
015 C011953 KARACHI
015 D011953 PAKISTAN
015 E041953 X
015 A001954 CITIBANK, N.A.
015 B001954 S
015 C011954 LIMA
015 D011954 PERU
015 E041954 X
015 A001955 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
<PAGE> PAGE 221
015 B001955 S
015 C011955 MANILA
015 D011955 PHILIPPINES
015 E041955 X
015 A001956 BANK HANDLOWY W. WARZAWIE, S.A.
015 B001956 S
015 C011956 WARSAW
015 D011956 POLAND
015 E041956 X
015 A001957 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B001957 S
015 C011957 LISBON
015 D011957 PORTUGAL
015 E041957 X
015 A001958 THE CHASE MANHATTAN BANK INTERNATIONAL
015 B001958 S
015 C011958 MOSCOW
015 D011958 RUSSIA
015 E041958 X
015 A001959 THE CHASE MANHATTAN BANK
015 B001959 S
015 C011959 SINGAPORE
015 D011959 SINGAPORE
015 E041959 X
015 A001960 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B001960 S
015 C011960 BRATISLAVA
015 D011960 SLOVAKIA
015 E041960 X
015 A001961 STANDARD BANK OF SOUTH AFRICA LTD.
015 B001961 S
015 C011961 JOHANNESBURG
015 D011961 SOUTH AFRICA
015 E041961 X
015 A001962 THE CENTRAL DEPOSITORY LTD.
015 B001962 S
015 C011962 JOHANNESBURG
015 D011962 SOUTH AFRICA
015 E041962 X
015 A001963 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001963 S
015 C011963 SEOUL
015 D011963 SOUTH KOREA
015 E041963 X
015 A001964 THE CHASE MANHATTAN BANK
015 B001964 S
015 C011964 MADRID
015 D011964 SPAIN
015 E041964 X
015 A001965 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B001965 S
<PAGE> PAGE 222
015 C011965 COLOMBO
015 D011965 SRI LANKA
015 E041965 X
015 A001966 STANBIC BANK SWAZILAND LTD.
015 B001966 S
015 C011966 MBABANE
015 D011966 SWAZILAND
015 E041966 X
015 A001967 SKANDINAVISKA ENSKILDA BANKEN
015 B001967 S
015 C011967 STOCKHOLM
015 D011967 SWEDEN
015 E041967 X
015 A001968 UNION BANK OF SWITZERLAND
015 B001968 S
015 C011968 ZURICH
015 D011968 SWITZERLAND
015 E041968 X
015 A001969 THE CHASE MANHATTAN BANK
015 B001969 S
015 C011969 TAIPEI
015 D011969 TAIWAN
015 E041969 X
015 A001970 THE CHASE MANHATTAN BANK
015 B001970 S
015 C011970 BANGKOK
015 D011970 THAILAND
015 E041970 X
015 A001971 THE CHASE MANHATTAN BANK
015 B001971 S
015 C011971 ISTANBUL
015 D011971 TURKEY
015 E041971 X
015 A001972 TAKASBANK (TVS) (DEPOSITORY)
015 B001972 S
015 C011972 ISTANBUL
015 D011972 TURKEY
015 E041972 X
015 A001973 THE CHASE MANHATTAN BANK
015 B001973 S
015 C011973 LONDON
015 D011973 UNITED KINGDOM
015 E041973 X
015 A001974 FIRST CHICAGO NBD CORPORATION
015 B001974 S
015 C011974 LONDON
015 D011974 UNITED KINGDOM
015 E041974 X
015 A001975 THE FIRST NATIONAL BANK OF BOSTON
015 B001975 S
015 C011975 MONTEVIDEO
<PAGE> PAGE 223
015 D011975 URUGUAY
015 E041975 X
015 A001976 CITIBANK, N.A.
015 B001976 S
015 C011976 CARACAS
015 D011976 VENEZUELA
015 E041976 X
015 A001977 BARCLAYS BANK OF ZAMBIA LTD.
015 B001977 S
015 C011977 LUSAKA
015 D011977 ZAMBIA
015 E041977 X
015 A001978 BARCLAYS BANK PLC
015 B001978 S
015 C011978 HARARE
015 D011978 ZIMBABWE
015 E041978 X
015 A001979 THE BANK OF BERMUDA LTD.
015 B001979 S
015 C011979 HAMILTON
015 D011979 BERMUDA
015 E041979 X
015 A001980 MISR COMPANY FOR CLEARING AND SEC DEPOSITORY
015 B001980 S
015 C011980 CAIRO
015 D011980 EGYPT
015 E041980 X
015 A001981 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B001981 S
015 C011981 ABIDJAN
015 D011981 IVORY COAST
015 E041981 X
015 A001982 THE BRITISH BANK OF THE MIDDLE EAST
015 B001982 S
015 C011982 BEIRUT
015 D011982 LEBANON
015 E041982 X
015 A001983 CLRG CTR OF FIN INST FOR LEB & THE MD E SAL
015 B001983 S
015 C011983 BEIRUT
015 D011983 LEBANON
015 E041983 X
015 A001984 CENTRAL DEPOSITORY CO. OF PAKISTAN LTD.
015 B001984 S
015 C011984 KARACHI
015 D011984 PAKISTAN
015 E041984 X
015 A001985 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B001985 S
015 C011985 MAKATI CITY
015 D011985 PHILIPPINES
<PAGE> PAGE 224
015 E041985 X
015 A001986 ING BANK N.V., BUCHAREST BRANCH
015 B001986 S
015 C011986 BUCHAREST
015 D011986 ROMANIA
015 E041986 X
015 A001987 NAT CO. FOR CLEARING, STLMNT AND DEP FOR SEC
015 B001987 S
015 C011987 BUCHAREST
015 D011987 ROMANIA
015 E041987 X
015 A001988 BUCHAREST STOCK EXCHANGE
015 B001988 S
015 C011988 BUCHAREST
015 D011988 ROMANIA
015 E041988 X
024 001900 N
025 D001901 0
025 D001902 0
025 D001903 0
025 D001904 0
025 D001905 0
025 D001906 0
025 D001907 0
025 D001908 0
028 A011900 13280
028 A021900 0
028 A031900 0
028 A041900 4248
028 B011900 9477
028 B021900 0
028 B031900 0
028 B041900 11369
028 C011900 5311
028 C021900 0
028 C031900 0
028 C041900 11939
028 D011900 6382
028 D021900 0
028 D031900 0
028 D041900 13739
028 E011900 4323
028 E021900 0
028 E031900 0
028 E041900 9223
028 F011900 5706
028 F021900 0
028 F031900 0
028 F041900 8620
028 G011900 44479
028 G021900 0
<PAGE> PAGE 225
028 G031900 0
028 G041900 59138
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
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
054 A001900 Y
054 B001900 Y
054 C001900 Y
054 D001900 N
054 E001900 N
054 F001900 N
054 G001900 Y
054 H001900 Y
054 I001900 N
054 J001900 Y
054 K001900 N
054 L001900 Y
054 M001900 Y
054 N001900 N
054 O001900 N
055 A001900 N
055 B001900 N
<PAGE> PAGE 226
056 001900 Y
057 001900 N
058 A001900 Y
058 B001900 Y
058 C001900 Y
058 D001900 Y
058 E001900 N
059 001900 Y
060 A001900 Y
060 B001900 Y
061 001900 2000
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 N
066 D001900 Y
066 E001900 N
066 F001900 N
066 G001900 N
067 001900 N
068 A001900 N
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
<PAGE> PAGE 227
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 Y
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 Y
070 O021900 N
070 P011900 Y
070 P021900 N
070 Q011900 N
070 Q021900 N
070 R011900 N
070 R021900 N
071 A001900 144803
071 B001900 100118
071 C001900 486196
071 D001900 21
072 A001900 12
072 B001900 1692
072 C001900 8531
072 D001900 0
072 E001900 0
072 F001900 4278
072 G001900 0
072 H001900 0
072 I001900 0
072 J001900 483
072 K001900 37
072 L001900 26
072 M001900 1
072 N001900 0
072 O001900 0
072 P001900 0
072 Q001900 0
072 R001900 9
072 S001900 6
072 T001900 0
<PAGE> PAGE 228
072 U001900 0
072 V001900 0
072 W001900 4
072 X001900 4844
072 Y001900 0
072 Z001900 5379
072AA001900 34926
072BB001900 20111
072CC011900 0
072CC021900 53104
072DD011900 3987
072DD021900 0
072EE001900 6325
073 A011900 0.1450
073 A021900 0.0000
073 B001900 0.2300
073 C001900 0.0000
074 A001900 490
074 B001900 0
074 C001900 25904
074 D001900 42
074 E001900 17749
074 F001900 233760
074 G001900 0
074 H001900 0
074 I001900 0
074 J001900 2451
074 K001900 0
074 L001900 330
074 M001900 0
074 N001900 280726
074 O001900 46
074 P001900 293
074 Q001900 0
074 R011900 0
074 R021900 0
074 R031900 0
074 R041900 707
074 S001900 0
074 T001900 279680
074 U011900 27184
074 U021900 0
074 V011900 10.29
074 V021900 0.00
074 W001900 0.0000
074 X001900 3
074 Y001900 0
075 A001900 0
075 B001900 342244
076 001900 0.00
008 A002001 TEMPLETON GLOBAL ADVISORS LTD.
<PAGE> PAGE 229
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
015 B002002 S
015 C012002 BUENOS AIRES
015 D012002 ARGENTINA
015 E042002 X
015 A002003 THE CHASE MANHATTAN BANK
015 B002003 S
015 C012003 SYDNEY
015 D012003 AUSTRALIA
015 E042003 X
015 A002004 CREDITANSTALT-BANKVEREIN
015 B002004 S
015 C012004 VIENNA
015 D012004 AUSTRIA
015 E042004 X
015 A002005 THE BRITISH BANK OF THE MIDDLE EAST
015 B002005 S
015 C012005 MANAMA
015 D012005 BAHRAIN
015 E042005 X
015 A002006 STANDARD CHARTERED BANK PLC
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
015 A002008 BARCLAYS BANK OF BOTSWANA LTD.
015 B002008 S
015 C012008 GABORONE
015 D012008 BOTSWANA
015 E042008 X
015 A002009 BANCO CHASE MANHATTAN, S.A.
015 B002009 S
015 C012009 SAO PAULO
015 D012009 BRAZIL
015 E042009 X
015 A002010 ROYAL BANK OF CANADA
<PAGE> PAGE 230
015 B002010 S
015 C012010 TORONTO
015 D012010 CANADA
015 E042010 X
015 A002011 CANADA TRUSTCO MORTGAGE COMPANY
015 B002011 S
015 C012011 TORONTO
015 D012011 CANADA
015 E042011 X
015 A002012 THE CHASE MANHATTAN BANK
015 B002012 S
015 C012012 SANTIAGO
015 D012012 CHILE
015 E042012 X
015 A002013 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002013 S
015 C012013 SHENZHEN
015 D012013 CHINA
015 E042013 X
015 A002014 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002014 S
015 C012014 SHANGHAI
015 D012014 CHINA
015 E042014 X
015 A002015 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B002015 S
015 C012015 SANTAFE DE BOGOTA
015 D012015 COLOMBIA
015 E042015 X
015 A002016 BARCLAYS BANK PLC
015 B002016 S
015 C012016 CYPRUS
015 D012016 CYPRUS
015 E042016 X
015 A002017 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002017 S
015 C012017 PRAGUE
015 D012017 CZECH REPUBLIC
015 E042017 X
015 A002018 DEN DANSKE BANK
015 B002018 S
015 C012018 COPENHAGEN
015 D012018 DENMARK
015 E042018 X
015 A002019 CITIBANK, N.A.
015 B002019 S
015 C012019 QUITO
015 D012019 ECUADOR
015 E042019 X
015 A002020 NATIONAL BANK OF EGYPT
015 B002020 S
<PAGE> PAGE 231
015 C012020 CAIRO
015 D012020 EGYPT
015 E042020 X
015 A002021 MARITA BANK LTD.
015 B002021 S
015 C012021 HELSINKI
015 D012021 FINLAND
015 E042021 X
015 A002022 BANQUE PARIBAS
015 B002022 S
015 C012022 PARIS
015 D012022 FRANCE
015 E042022 X
015 A002023 DRESDNER BANK AG
015 B002023 S
015 C012023 FRANKFURT
015 D012023 GERMANY
015 E042023 X
015 A002024 BARCLAYS BANK OF GHANA LTD.
015 B002024 S
015 C012024 ACCRA
015 D012024 GHANA
015 E042024 X
015 A002025 BARCLAYS BANK PLC
015 B002025 S
015 C012025 ATHENS
015 D012025 GREECE
015 E042025 X
015 A002026 THE CHASE MANHATTAN BANK
015 B002026 S
015 C012026 HONG KONG
015 D012026 HONG KONG
015 E042026 X
015 A002027 KELER LTD.
015 B002027 S
015 C012027 BUDAPEST
015 D012027 HUNGARY
015 E042027 X
015 A002028 CITIBANK BUDAPEST RT.
015 B002028 S
015 C012028 BUDAPEST
015 D012028 HUNGARY
015 E042028 X
015 A002029 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002029 S
015 C012029 BOMBAY
015 D012029 INDIA
015 E042029 X
015 A002030 DEUTSCHE BANK, A.G., BOMBAY
015 B002030 S
015 C012030 BOMBAY
<PAGE> PAGE 232
015 D012030 INDIA
015 E042030 X
015 A002031 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002031 S
015 C012031 JAKARTA
015 D012031 INDONESIA
015 E042031 X
015 A002032 BANK OF IRELAND
015 B002032 S
015 C012032 DUBLIN
015 D012032 IRELAND
015 E042032 X
015 A002033 BANK LEUMI LE-ISRAEL, B.M.
015 B002033 S
015 C012033 TEL AVIV
015 D012033 ISRAEL
015 E042033 X
015 A002034 BANQUE PARIBUS, MILAN
015 B002034 S
015 C012034 MILAN
015 D012034 ITALY
015 E042034 X
015 A002035 THE FUJI BANK LTD.
015 B002035 S
015 C012035 TOKYO
015 D012035 JAPAN
015 E042035 X
015 A002036 JASDEC
015 B002036 S
015 C012036 TOKYO
015 D012036 JAPAN
015 E042036 X
015 A002037 ARAB BANK, LTD.
015 B002037 S
015 C012037 AMMAN
015 D012037 JORDAN
015 E042037 X
015 A002038 BARCLAYS BANK OF KENYA LTD.
015 B002038 S
015 C012038 NAIROBI
015 D012038 KENYA
015 E042038 X
015 A002039 CEDEL SA
015 B002039 S
015 C012039 LUXEMBOURG CITY
015 D012039 LUXEMBOURG
015 E042039 X
015 A002040 BANQUE GENERALE DU LUXEMBOURG
015 B002040 S
015 C012040 LUXEMBOURG CITY
015 D012040 LUXEMBOURG
<PAGE> PAGE 233
015 E042040 X
015 A002041 THE CHASE MANHATTAN BANK, BERHAD
015 B002041 S
015 C012041 KUALA LUMPUR
015 D012041 MALAYSIA
015 E042041 X
015 A002042 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002042 S
015 C012042 PORT LOUIS
015 D012042 MAURITIUS
015 E042042 X
015 A002043 CENTRAL DEPOSITORY AND SETTLEMENT CO., LTD.
015 B002043 S
015 C012043 PORT LOUIS
015 D012043 MAURITIUS
015 E042043 X
015 A002044 CHASE MANHATTAN BANK MEXICO S.A.
015 B002044 S
015 C012044 MEXICO CITY
015 D012044 MEXICO
015 E042044 X
015 A002045 BANQUE COMMERCIALE DU MAROC
015 B002045 S
015 C012045 CASABLANCA
015 D012045 MOROCCO
015 E042045 X
015 A002046 STANDARD BANK NAMIBIA LTD.
015 B002046 S
015 C012046 WINDHOEK
015 D012046 NAMIBIA
015 E042046 X
015 A002047 ABN-AMRO BANK NV
015 B002047 S
015 C012047 AMSTERDAM
015 D012047 NETHERLANDS
015 E042047 X
015 A002048 NATIONAL NOMINEES LTD.
015 B002048 S
015 C012048 AUCKLAND
015 D012048 NEW ZEALAND
015 E042048 X
015 A002049 AUSTRACLEAR NEW ZEALAND
015 B002049 S
015 C012049 WELLINGTON
015 D012049 NEW ZEALAND
015 E042049 X
015 A002050 DEN NORSKE BANK
015 B002050 S
015 C012050 OSLO
015 D012050 NORWAY
015 E042050 X
<PAGE> PAGE 234
015 A002051 THE BRITISH BANK OF THE MIDDLE EAST
015 B002051 S
015 C012051 MUSCAT
015 D012051 OMAN
015 E042051 X
015 A002052 CITIBANK, N.A.
015 B002052 S
015 C012052 KARACHI
015 D012052 PAKISTAN
015 E042052 X
015 A002053 DEUTSCHE BANK, A.G.
015 B002053 S
015 C012053 KARACHI
015 D012053 PAKISTAN
015 E042053 X
015 A002054 CITIBANK, N.A.
015 B002054 S
015 C012054 LIMA
015 D012054 PERU
015 E042054 X
015 A002055 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002055 S
015 C012055 MANILA
015 D012055 PHILIPPINES
015 E042055 X
015 A002056 BANK HANDLOWY W. WARZAWIE, S.A.
015 B002056 S
015 C012056 WARSAW
015 D012056 POLAND
015 E042056 X
015 A002057 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B002057 S
015 C012057 LISBON
015 D012057 PORTUGAL
015 E042057 X
015 A002058 THE CHASE MANHATTAN BANK INTERNATIONAL
015 B002058 S
015 C012058 MOSCOW
015 D012058 RUSSIA
015 E042058 X
015 A002059 THE CHASE MANHATTAN BANK
015 B002059 S
015 C012059 SINGAPORE
015 D012059 SINGAPORE
015 E042059 X
015 A002060 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002060 S
015 C012060 BRATISLAVA
015 D012060 SLOVAKIA
015 E042060 X
015 A002061 STANDARD BANK OF SOUTH AFRICA LTD.
<PAGE> PAGE 235
015 B002061 S
015 C012061 JOHANNESBURG
015 D012061 SOUTH AFRICA
015 E042061 X
015 A002062 THE CENTRAL DEPOSITORY LTD.
015 B002062 S
015 C012062 JOHANNESBURG
015 D012062 SOUTH AFRICA
015 E042062 X
015 A002063 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002063 S
015 C012063 SEOUL
015 D012063 SOUTH KOREA
015 E042063 X
015 A002064 THE CHASE MANHATTAN BANK
015 B002064 S
015 C012064 MADRID
015 D012064 SPAIN
015 E042064 X
015 A002065 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002065 S
015 C012065 COLOMBO
015 D012065 SRI LANKA
015 E042065 X
015 A002066 STANBIC BANK SWAZILAND LTD.
015 B002066 S
015 C012066 MBABANE
015 D012066 SWAZILAND
015 E042066 X
015 A002067 SKANDINAVISKA ENSKILDA BANKEN
015 B002067 S
015 C012067 STOCKHOLM
015 D012067 SWEDEN
015 E042067 X
015 A002068 UNION BANK OF SWITZERLAND
015 B002068 S
015 C012068 ZURICH
015 D012068 SWITZERLAND
015 E042068 X
015 A002069 THE CHASE MANHATTAN BANK
015 B002069 S
015 C012069 TAIPEI
015 D012069 TAIWAN
015 E042069 X
015 A002070 THE CHASE MANHATTAN BANK
015 B002070 S
015 C012070 BANGKOK
015 D012070 THAILAND
015 E042070 X
015 A002071 THE CHASE MANHATTAN BANK
015 B002071 S
<PAGE> PAGE 236
015 C012071 ISTANBUL
015 D012071 TURKEY
015 E042071 X
015 A002072 TAKASBANK (TVS) (DEPOSITORY)
015 B002072 S
015 C012072 ISTANBUL
015 D012072 TURKEY
015 E042072 X
015 A002073 THE CHASE MANHATTAN BANK
015 B002073 S
015 C012073 LONDON
015 D012073 UNITED KINGDOM
015 E042073 X
015 A002074 FIRST CHICAGO NBD CORPORATION
015 B002074 S
015 C012074 LONDON
015 D012074 UNITED KINGDOM
015 E042074 X
015 A002075 THE FIRST NATIONAL BANK OF BOSTON
015 B002075 S
015 C012075 MONTEVIDEO
015 D012075 URUGUAY
015 E042075 X
015 A002076 CITIBANK, N.A.
015 B002076 S
015 C012076 CARACAS
015 D012076 VENEZUELA
015 E042076 X
015 A002077 BARCLAYS BANK OF ZAMBIA LTD.
015 B002077 S
015 C012077 LUSAKA
015 D012077 ZAMBIA
015 E042077 X
015 A002078 BARCLAYS BANK PLC
015 B002078 S
015 C012078 HARARE
015 D012078 ZIMBABWE
015 E042078 X
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015 B002079 S
015 C012079 HAMILTON
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015 E042079 X
015 A002080 MISR COMPANY FOR CLEARING AND SEC DEPOSITORY
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<PAGE> PAGE 237
015 D012081 IVORY COAST
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015 A002082 THE BRITISH BANK OF THE MIDDLE EAST
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015 C012084 KARACHI
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015 E042084 X
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015 A002086 ING BANK N.V., BUCHAREST BRANCH
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025 B002001 43-0895447
025 C002001 E
025 D002001 5807
025 A002002 MORGAN STANLEY & CO. INC.
025 B002002 13-2655998
025 C002002 E
025 D002002 6096
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025 D002004 0
025 D002005 0
025 D002006 0
025 D002007 0
<PAGE> PAGE 238
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028 A022000 0
028 A032000 0
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046 002000 N
047 002000 Y
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<PAGE> PAGE 239
048 I022000 0.000
048 J012000 0
048 J022000 0.000
048 K012000 500000
048 K022000 0.750
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050 002000 N
051 002000 N
052 002000 N
053 A002000 N
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054 B002000 Y
054 C002000 Y
054 D002000 N
054 E002000 N
054 F002000 N
054 G002000 Y
054 H002000 Y
054 I002000 N
054 J002000 Y
054 K002000 N
054 L002000 Y
054 M002000 Y
054 N002000 N
054 O002000 N
055 A002000 Y
055 B002000 N
056 002000 Y
057 002000 N
058 A002000 Y
058 B002000 Y
058 C002000 Y
058 D002000 Y
058 E002000 N
059 002000 Y
060 A002000 Y
060 B002000 Y
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<PAGE> PAGE 240
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062 Q002000 0.0
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066 B002000 N
066 C002000 N
066 D002000 Y
066 E002000 N
066 F002000 N
066 G002000 N
067 002000 N
068 A002000 N
068 B002000 Y
069 002000 N
070 A012000 Y
070 A022000 Y
070 B012000 Y
070 B022000 N
070 C012000 Y
070 C022000 N
070 D012000 Y
070 D022000 N
070 E012000 Y
070 E022000 N
070 F012000 Y
070 F022000 N
070 G012000 Y
070 G022000 N
070 H012000 Y
070 H022000 N
070 I012000 N
070 I022000 N
070 J012000 Y
070 J022000 N
070 K012000 Y
070 K022000 Y
070 L012000 Y
070 L022000 Y
070 M012000 Y
070 M022000 Y
070 N012000 Y
070 N022000 N
070 O012000 N
070 O022000 N
070 P012000 Y
070 P022000 N
070 Q012000 N
<PAGE> PAGE 241
070 Q022000 N
070 R012000 N
070 R022000 N
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<PAGE> PAGE 242
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008 A002101 TEMPLETON GLOBAL ADVISORS 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 FT. LAUDERDALE
008 D022102 FL
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
015 B002102 S
015 C012102 BUENOS AIRES
015 D012102 ARGENTINA
015 E042102 X
015 A002103 THE CHASE MANHATTAN BANK
015 B002103 S
<PAGE> PAGE 243
015 C012103 SYDNEY
015 D012103 AUSTRALIA
015 E042103 X
015 A002104 CREDITANSTALT - BANKVEREIN
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015 C012104 VIENNA
015 D012104 AUSTRIA
015 E042104 X
015 A002105 THE BRITISH BANK OF THE MIDDLE EAST
015 B002105 S
015 C012105 MANAMA
015 D012105 BAHRAIN
015 E042105 X
015 A002106 STANDARD CHARTERED BANK PLC
015 B002106 S
015 C012106 DHAKA
015 D012106 BANGLADESH
015 E042106 X
015 A002107 GENERALE BANK
015 B002107 S
015 C012107 BRUSSELS
015 D012107 BELGIUM
015 E042107 X
015 A002108 BARCLAYS BANK OF BOTSWANA LTD.
015 B002108 S
015 C012108 GABARONE
015 D012108 BOTSWANA
015 E042108 X
015 A002109 BANCO CHASE MANHATTAN, S.A.
015 B002109 S
015 C012109 SAO PAULO
015 D012109 BRAZIL
015 E042109 X
015 A002110 ROYAL BANK OF CANADA
015 B002110 S
015 C012110 TORONTO
015 D012110 CANADA
015 E042110 X
015 A002111 CANADA TRUSTCO MORTGAGE COMPANY
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015 C012111 TORONTO
015 D012111 CANADA
015 E042111 X
015 A002112 THE CHASE MANHATTAN BANK
015 B002112 S
015 C012112 SANTIAGO
015 D012112 CHILE
015 E042112 X
015 A002113 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002113 S
015 C012113 SHENZHEN
<PAGE> PAGE 244
015 D012113 CHINA
015 E042113 X
015 A002114 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002114 S
015 C012114 SHANGHAI
015 D012114 CHINA
015 E042114 X
015 A002115 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B002115 S
015 C012115 SANTAFE DE BOGOTA
015 D012115 COLOMBIA
015 E042115 X
015 A002116 BARCLAYS BANK PLC
015 B002116 S
015 C012116 CYPRUS
015 D012116 CYPRUS
015 E042116 X
015 A002117 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
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015 C012117 PRAGUE
015 D012117 CZECH REPUBLIC
015 E042117 X
015 A002118 DEN DANSKE BANK
015 B002118 S
015 C012118 COPENHAGEN
015 D012118 DENMARK
015 E042118 X
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015 B002119 S
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015 D012119 ECUADOR
015 E042119 X
015 A002120 NATIONAL BANK OF EGYPT
015 B002120 S
015 C012120 CAIRO
015 D012120 EGYPT
015 E042120 X
015 A002121 MARITA BANK LTD.
015 B002121 S
015 C012121 HELSINKI
015 D012121 FINLAND
015 E042121 X
015 A002122 BANQUE PARIBAS
015 B002122 S
015 C012122 PARIS
015 D012122 FRANCE
015 E042122 X
015 A002123 DRESDNER BANK AG
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015 C012123 FRANKFURT
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<PAGE> PAGE 245
015 E042123 X
015 A002124 BARCLAYS BANK OF GHANA LTD.
015 B002124 S
015 C012124 ACCRA
015 D012124 GHANA
015 E042124 X
015 A002125 BARCLAYS BANK PLC
015 B002125 S
015 C012125 ATHENS
015 D012125 GREECE
015 E042125 X
015 A002126 THE CHASE MANHATTAN BANK
015 B002126 S
015 C012126 HONG KONG
015 D012126 HONG KONG
015 E042126 X
015 A002127 CITIBANK BUDAPEST RT.
015 B002127 S
015 C012127 BUDAPEST
015 D012127 HUNGARY
015 E042127 X
015 A002128 KELER LTD.
015 B002128 S
015 C012128 BUDAPEST
015 D012128 HUNGARY
015 E042128 X
015 A002129 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002129 S
015 C012129 BOMBAY
015 D012129 INDIA
015 E042129 X
015 A002130 DEUTSCHE BANK, A.G., BOMBAY
015 B002130 S
015 C012130 BOMBAY
015 D012130 INDIA
015 E042130 X
015 A002131 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002131 S
015 C012131 JAKARTA
015 D012131 INDONESIA
015 E042131 X
015 A002132 BANK OF IRELAND
015 B002132 S
015 C012132 DUBLIN
015 D012132 IRELAND
015 E042132 X
015 A002133 BANK LEUMI LE-ISRAEL B.M.
015 B002133 S
015 C012133 TEL AVIV
015 D012133 ISRAEL
015 E042133 X
<PAGE> PAGE 246
015 A002134 BANQUE PARIBUS, MILAN
015 B002134 S
015 C012134 MILAN
015 D012134 ITALY
015 E042134 X
015 A002135 THE FUJI BANK LTD.
015 B002135 S
015 C012135 TOKYO
015 D012135 JAPAN
015 E042135 X
015 A002136 JASDEC
015 B002136 S
015 C012136 TOKYO
015 D012136 JAPAN
015 E042136 X
015 A002137 ARAB BANK, LTD.
015 B002137 S
015 C012137 AMMAN
015 D012137 JORDAN
015 E042137 X
015 A002138 BARCLAYS BANK OF KENYA LTD.
015 B002138 S
015 C012138 NAIROBI
015 D012138 KENYA
015 E042138 X
015 A002139 CEDEL SA
015 B002139 S
015 C012139 LUXEMBOURG CITY
015 D012139 LUXEMBOURG
015 E042139 X
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015 B002140 S
015 C012140 LUXEMBOURG CITY
015 D012140 LUXEMBOURG
015 E042140 X
015 A002141 THE CHASE MANHATTAN BANK, BERHAD
015 B002141 S
015 C012141 KUALA LUMPUR
015 D012141 MALAYSIA
015 E042141 X
015 A002142 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002142 S
015 C012142 PORT LOUIS
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015 E042142 X
015 A002143 CENTRAL DEPOSITORY AND SETTLEMENT CO., LTD.
015 B002143 S
015 C012143 PORT LOUIS
015 D012143 MAURITIUS
015 E042143 X
015 A002144 CHASE MANHATTAN BANK MEXICO S.A.
<PAGE> PAGE 247
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015 D012144 MEXICO
015 E042144 X
015 A002145 BANQUE COMMERCIALE DU MAROC
015 B002145 S
015 C012145 CASABLANCA
015 D012145 MOROCCO
015 E042145 X
015 A002146 STANDARD BANK NAMIBIA LTD.
015 B002146 S
015 C012146 WINDHOEK
015 D012146 NAMIBIA
015 E042146 X
015 A002147 ABN-AMRO BANK NV
015 B002147 S
015 C012147 AMSTERDAM
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015 E042147 X
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015 E042148 X
015 A002149 AUSTRACLEAR NEW ZEALAND
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015 C012149 WELLINGTON
015 D012149 NEW ZEALAND
015 E042149 X
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015 B002150 S
015 C012150 OSLO
015 D012150 NORWAY
015 E042150 X
015 A002151 THE BRITISH BANK OF THE MIDDLE EAST
015 B002151 S
015 C012151 MUSCAT
015 D012151 OMAN
015 E042151 X
015 A002152 CITIBANK, N.A.
015 B002152 S
015 C012152 KARACHI
015 D012152 PAKISTAN
015 E042152 X
015 A002153 DEUTSCHE BANK, A.G.
015 B002153 S
015 C012153 KARACHI
015 D012153 PAKISTAN
015 E042153 X
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015 B002154 S
<PAGE> PAGE 248
015 C012154 LIMA
015 D012154 PERU
015 E042154 X
015 A002155 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002155 S
015 C012155 MANILA
015 D012155 PHILIPPINES
015 E042155 X
015 A002156 BANK HANDLOWY W. WARZAWIE, S.A.
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015 D012156 POLAND
015 E042156 X
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015 B002157 S
015 C012157 LISBON
015 D012157 PORTUGAL
015 E042157 X
015 A002158 THE CHASE MANHATTAN BANK INTERNATIONAL
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015 C012158 MOSCOW
015 D012158 RUSSIA
015 E042158 X
015 A002159 THE CHASE MANHATTAN BANK
015 B002159 S
015 C012159 SINGAPORE
015 D012159 SINGAPORE
015 E042159 X
015 A002160 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002160 S
015 C012160 BRATISLAVA
015 D012160 SLOVAKIA
015 E042160 X
015 A002161 STANDARD BANK OF SOUTH AFRICA LTD.
015 B002161 S
015 C012161 JOHANNESBURG
015 D012161 SOUTH AFRICA
015 E042161 X
015 A002162 THE CENTRAL DEPOSITORY LTD.
015 B002162 S
015 C012162 JOHANNESBURG
015 D012162 SOUTH AFRICA
015 E042162 X
015 A002163 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002163 S
015 C012163 SEOUL
015 D012163 SOUTH KOREA
015 E042163 X
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015 C012164 MADRID
<PAGE> PAGE 249
015 D012164 SPAIN
015 E042164 X
015 A002165 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002165 S
015 C012165 COLOMBO
015 D012165 SRI LANKA
015 E042165 X
015 A002166 STANBIC BANK SWAZILAND LTD.
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015 C012166 MBABANE
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015 E042166 X
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015 D012169 TAIWAN
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<PAGE> PAGE 250
015 E042174 X
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015 D012178 ZIMBABWE
015 E042178 X
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015 B002179 S
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015 E042179 X
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015 D012180 EGYPT
015 E042180 X
015 A002181 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B002181 S
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015 D012181 IVORY COAST
015 E042181 X
015 A002182 THE BRITISH BANK OF THE MIDDLE EAST
015 B002182 S
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015 E042182 X
015 A002183 CLRG CTR OF FIN INST FOR LEB & THE MD E SAL
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015 A002184 CENTRAL DEPOSITORY CO. OF PAKISTAN LTD.
015 B002184 S
015 C012184 KARACHI
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015 E042184 X
<PAGE> PAGE 251
015 A002185 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
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015 E042185 X
015 A002186 ING BANK N.V., BUCHAREST BRANCH
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015 E042186 X
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024 002100 Y
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<PAGE> PAGE 252
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048 I022100 0.000
048 J012100 0
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048 K012100 1300000
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050 002100 N
051 002100 N
052 002100 N
053 A002100 N
054 A002100 Y
054 B002100 Y
054 C002100 Y
054 D002100 N
054 E002100 N
054 F002100 N
054 G002100 Y
<PAGE> PAGE 253
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054 I002100 N
054 J002100 Y
054 K002100 N
054 L002100 Y
054 M002100 Y
054 N002100 N
054 O002100 N
055 A002100 N
055 B002100 N
056 002100 Y
057 002100 N
058 A002100 Y
058 B002100 Y
058 C002100 Y
058 D002100 Y
058 E002100 N
059 002100 Y
060 A002100 Y
060 B002100 Y
061 002100 2000
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066 C002100 N
066 D002100 N
066 E002100 Y
066 F002100 N
066 G002100 N
067 002100 Y
068 A002100 N
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<PAGE> PAGE 254
069 002100 N
070 A012100 Y
070 A022100 Y
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 Y
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 Y
070 O022100 N
070 P012100 Y
070 P022100 N
070 Q012100 N
070 Q022100 N
070 R012100 N
070 R022100 N
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071 C002100 67345
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<PAGE> PAGE 255
072 K002100 7
072 L002100 7
072 M002100 1
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072 R002100 2
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072 T002100 0
072 U002100 0
072 V002100 0
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072 Z002100 3417
072AA002100 4629
072BB002100 1123
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<PAGE> PAGE 256
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008 A002201 FRANKLIN ADVISERS, INC.
008 B002201 A
008 C002201 801-26292
008 D012201 SAN MATEO
008 D022201 CA
008 D032201 94404
008 D042201 1585
015 A002201 BANK OF NEW YORK
015 B002201 C
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015 C022201 NY
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015 E012201 X
015 A002202 THE BANK OF BOSTON
015 B002202 S
015 C012202 BUENOS AIRES
015 D012202 ARGENTINA
015 E042202 X
015 A002203 NATIONAL AUSTRALIA BANK LTD.
015 B002203 S
015 C012203 MELBOURNE
015 D012203 AUSTRALIA
015 E042203 X
015 A002204 CREDITANSTALT BANKVEREIN
015 B002204 S
015 C012204 VIENNA
015 D012204 AUSTRIA
015 E042204 X
015 A002205 STANDARD CHARTERED BANK PLC
015 B002205 S
015 C012205 DHAKA
015 D012205 BANGLADESH
015 E042205 X
015 A002206 BANQUE BRUXELLES LAMBERT
015 B002206 S
015 C012206 BRUSSELS
015 D012206 BELGIUM
015 E042206 X
015 A002207 STANBIC BANK BOTSWANA LTD.
015 B002207 S
015 C012207 GABARONE
015 D012207 BOTSWANA
<PAGE> PAGE 257
015 E042207 X
015 A002208 THE FIRST NATIONAL BANK OF BOSTON
015 B002208 S
015 C012208 SAO PAULO
015 D012208 BRAZIL
015 E042208 X
015 A002209 THE ROYAL BANK OF CANADA
015 B002209 S
015 C012209 MONTREAL
015 D012209 CANADA
015 E042209 X
015 A002210 THE FIRST NATIONAL BANK OF BOSTON
015 B002210 S
015 C012210 SANTIAGO
015 D012210 CHILE
015 E042210 X
015 A002211 BANCO DE CHILE
015 B002211 S
015 C012211 SANTIAGO
015 D012211 CHILE
015 E042211 X
015 A002212 THE STANDARD CHARTERED BANK, HONG KONG
015 B002212 S
015 C012212 HONG KONG
015 D012212 CHINA
015 E042212 X
015 A002213 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARA
015 B002213 S
015 C012213 BOGOTA
015 D012213 COLOMBIA
015 E042213 X
015 A002214 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002214 S
015 C012214 PRAHA
015 D012214 CZECH REPUBLIC
015 E042214 X
015 A002215 DEN DANSKE BANK
015 B002215 S
015 C012215 COPENHAGEN
015 D012215 DENMARK
015 E042215 X
015 A002216 CITIBANK, N.A.
015 B002216 S
015 C012216 QUITO
015 D012216 ECUADOR
015 E042216 X
015 A002217 CITIBANK, N.A.-EGYPT BRANCH
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015 C012217 CAIRO
015 D012217 EGYPT
015 E042217 X
<PAGE> PAGE 258
015 A002218 MERITA BANK LTD.
015 B002218 S
015 C012218 HELSINKI
015 D012218 FINLAND
015 E042218 X
015 A002219 BANQUE PARIBAS
015 B002219 S
015 C012219 PARIS
015 D012219 FRANCE
015 E042219 X
015 A002220 CREDIT COMMERCIAL DE FRANCE
015 B002220 S
015 C012220 PARIS
015 D012220 FRANCE
015 E042220 X
015 A002221 DRESDNER BANK A.G.
015 B002221 S
015 C012221 FRANKFURT
015 D012221 GERMANY
015 E042221 X
015 A002222 MERCHANT BANK LTD.
015 B002222 S
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015 E042222 X
015 A002223 NATIONAL BANK OF GREECE S.A.
015 B002223 S
015 C012223 ATHENS
015 D012223 GREECE
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015 B002225 S
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015 D012225 HUNGARY
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015 D012226 INDIA
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015 C012227 JAKARTA
015 D012227 INDONESIA
015 E042227 X
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<PAGE> PAGE 259
015 B002228 S
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015 D012228 IRELAND
015 E042228 X
015 A002229 BANK LEUMI LE-ISRAEL B.M.
015 B002229 S
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015 D012229 ISRAEL
015 E042229 X
015 A002230 BANCA COMMERCIALE ITALIANA
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015 D012230 ITALY
015 E042230 X
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015 B002231 S
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015 D012231 ITALY
015 E042231 X
015 A002232 JASDEC
015 B002232 S
015 C012232 TOKYO
015 D012232 JAPAN
015 E042232 X
015 A002233 BANK OF TOKYO MITSUBISHI
015 B002233 S
015 C012233 TOKYO
015 D012233 JAPAN
015 E042233 X
015 A002234 THE BRITISH BANK OF THE MIDDLE EAST
015 B002234 S
015 C012234 AMMAN
015 D012234 JORDAN
015 E042234 X
015 A002235 STANBIC BANK OF KENYA LTD.
015 B002235 S
015 C012235 NAIROBI
015 D012235 KENYA
015 E042235 X
015 A002236 CEDEL
015 B002236 S
015 C012236 LUXEMBOURG CITY
015 D012236 LUXEMBOURG
015 E042236 X
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015 B002237 S
015 C012237 LUXEMBOURG CITY
015 D012237 LUXEMBOURG
015 E042237 X
015 A002238 THE HONGKONG BANK MALAYSIA BERHAD
015 B002238 S
<PAGE> PAGE 260
015 C012238 KUALA LUMPUR
015 D012238 MALAYSIA
015 E042238 X
015 A002239 BANCO NACIONAL DE MEXICO
015 B002239 S
015 C012239 MEXICO CITY
015 D012239 MEXICO
015 E042239 X
015 A002240 BANQUE COMMERCIALE DU MAROC
015 B002240 S
015 C012240 CASABLANCA
015 D012240 MOROCCO
015 E042240 X
015 A002241 STANBIC BANK NAMIBIA LTD.
015 B002241 S
015 C012241 WINDHOEK
015 D012241 NAMIBIA
015 E042241 X
015 A002242 KAS-ASSOCIATIE NV
015 B002242 S
015 C012242 AMSTERDAM
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015 E042242 X
015 A002243 MEESPIERSON NV
015 B002243 S
015 C012243 AMSTERDAM
015 D012243 NETHERLANDS
015 E042243 X
015 A002244 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
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015 A002245 STANBIC MERCHANT BANK NIGERIA LTD.
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015 A002246 DEN NORSKE BANK ASA
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015 E042246 X
015 A002247 STANDARD CHARTERED BANK
015 B002247 S
015 C012247 KARACHI
015 D012247 PAKISTAN
015 E042247 X
015 A002248 CITIBANK, N.A.
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015 C012248 LIMA
<PAGE> PAGE 261
015 D012248 PERU
015 E042248 X
015 A002249 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002249 S
015 C012249 PASIG CITY
015 D012249 PHILIPPINES
015 E042249 X
015 A002250 BANK HANDLOWY W. WARSZAWIE S.A.
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015 D012250 POLAND
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015 A002251 BANCO COMERCIAL PORTUGUES, S.A.
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015 C012251 LISBON
015 D012251 PORTUGAL
015 E042251 X
015 A002252 UNITED OVERSEAS BANK LTD.
015 B002252 S
015 C012252 SINGAPORE
015 D012252 SINGAPORE
015 E042252 X
015 A002253 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B002253 S
015 C012253 SIGNAPORE
015 D012253 SINGAPORE
015 E042253 X
015 A002254 CESKOSLOVENSKA OBCHODNA BANKA AS
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015 C012254 BRATISLAVA
015 D012254 SLOVAK REPUBLIC
015 E042254 X
015 A002255 STANDARD CORPORATE AND MERCHANT BANK
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015 C012255 JOHANNESBURG
015 D012255 SOUTH AFRICA
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015 A002256 SEOULBANK
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015 C012256 SEOUL
015 D012256 SOUTH KOREA
015 E042256 X
015 A002257 BANCO BILBAO VIZCAYA
015 B002257 S
015 C012257 MADRID
015 D012257 SPAIN
015 E042257 X
015 A002258 STANDARD CHARTERED BANK
015 B002258 S
015 C012258 COLOMBO
015 D012258 SRI LANKA
<PAGE> PAGE 262
015 E042258 X
015 A002259 STANBIC BANK OF SWAZILAND LTD.
015 B002259 S
015 C012259 MBABANE
015 D012259 SWAZILAND
015 E042259 X
015 A002260 SKANDINAVISKA ENSKILDA BANKEN
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015 C012260 STOCKHOLM
015 D012260 SWEDEN
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015 A002261 UNION BANK OF SWITZERLAND
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015 E042261 X
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015 B002262 S
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015 A002263 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
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015 D012263 TAIWAN
015 E042263 X
015 A002264 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
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015 A002266 OSMANLI BANKASI A.S.
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<PAGE> PAGE 263
015 A002269 THE FIRST NATIONAL BANK OF BOSTON
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015 A002270 CITIBANK, N.A.
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<PAGE> PAGE 264
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<PAGE> PAGE 265
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<PAGE> PAGE 266
070 A012200 Y
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<PAGE> PAGE 267
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<PAGE> PAGE 268
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008 A002301 FRANKLIN ADVISERS, INC.
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008 D022301 CA
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015 A002301 BANK OF NEW YORK
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015 E042305 X
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015 A002307 STANBIC BANK BOTSWANA LTD.
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<PAGE> PAGE 269
015 A002308 THE FIRST NATIONAL BANK OF BOSTON
015 B002308 S
015 C012308 SAO PAULO
015 D012308 BRAZIL
015 E042308 X
015 A002309 ROYAL BANK OF CANADA
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015 A002311 BANCO DE CHILE
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<PAGE> PAGE 270
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015 A002326 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002326 S
015 C012326 MUMBAI
015 D012326 INDIA
015 E042326 X
015 A002327 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002327 S
015 C012327 JAKARTA
015 D012327 INDONESIA
015 E042327 X
015 A002328 ALLIED IRISH BANKS, PLC
015 B002328 S
<PAGE> PAGE 271
015 C012328 DUBLIN
015 D012328 IRELAND
015 E042328 X
015 A002329 BANK LEUMI LE-ISRAEL B.M.
015 B002329 S
015 C012329 TEL AVIV
015 D012329 ISRAEL
015 E042329 X
015 A002330 BANCA COMMERCIALE ITALIANA
015 B002330 S
015 C012330 MILAN
015 D012330 ITALY
015 E042330 X
015 A002331 BANQUE PARIBAS
015 B002331 S
015 C012331 MILAN
015 D012331 ITALY
015 E042331 X
015 A002332 JASDEC
015 B002332 S
015 C012332 TOKYO
015 D012332 JAPAN
015 E042332 X
015 A002333 BANK OF TOKYO MITSUBISHI
015 B002333 S
015 C012333 TOKYO
015 D012333 JAPAN
015 E042333 X
015 A002334 THE BRITISH BANK OF THE MIDDLE EAST
015 B002334 S
015 C012334 AMMAN
015 D012334 JORDAN
015 E042334 X
015 A002335 STANBIC BANK KENYA LTD.
015 B002335 S
015 C012335 NAIROBI
015 D012335 KENYA
015 E042335 X
015 A002336 CEDEL
015 B002336 S
015 C012336 LUXEMBOURG CITY
015 D012336 LUXEMBOURG
015 E042336 X
015 A002337 BANQUE INTERNATIONALE A LUXEMBOURG
015 B002337 S
015 C012337 LUXEMBOURG CITY
015 D012337 LUXEMBOURG
015 E042337 X
015 A002338 THE HONGKONG BANK MALAYSIA BERHAD
015 B002338 S
015 C012338 KUALA LUMPUR
<PAGE> PAGE 272
015 D012338 MALAYSIA
015 E042338 X
015 A002339 BANCO NACIONAL DE MEXICO
015 B002339 S
015 C012339 MEXICO CITY
015 D012339 MEXICO
015 E042339 X
015 A002340 BANQUE COMMERCIALE DU MAROC
015 B002340 S
015 C012340 CASABLANCA
015 D012340 MOROCCO
015 E042340 X
015 A002341 STANBIC BANK NAMIBIA LTD.
015 B002341 S
015 C012341 WINDHOEK
015 D012341 NAMIBIA
015 E042341 X
015 A002342 KAS-ASSOCIATIE NV
015 B002342 S
015 C012342 AMSTERDAM
015 D012342 NETHERLANDS
015 E042342 X
015 A002343 MEESPIERSON NV
015 B002343 S
015 C012343 AMSTERDAM
015 D012343 NETHERLANDS
015 E042343 X
015 A002344 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B002344 S
015 C012344 WELLINGTON
015 D012344 NEW ZEALAND
015 E042344 X
015 A002345 STANBIC MERCHANT BANK NIGERIA LTD.
015 B002345 S
015 C012345 LAGOS
015 D012345 NIGERIA
015 E042345 X
015 A002346 DEN NORSKE BANK ASA
015 B002346 S
015 C012346 OSLO
015 D012346 NORWAY
015 E042346 X
015 A002347 STANDARD CHARTERED BANK
015 B002347 S
015 C012347 KARACHI
015 D012347 PAKISTAN
015 E042347 X
015 A002348 CITIBANK, N.A.
015 B002348 S
015 C012348 LIMA
015 D012348 PERU
<PAGE> PAGE 273
015 E042348 X
015 A002349 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002349 S
015 C012349 PASIG CITY
015 D012349 PHILIPPINES
015 E042349 X
015 A002350 BANK HANDLOWY W. WARSZAWIE S.A.
015 B002350 S
015 C012350 WARSAW
015 D012350 POLAND
015 E042350 X
015 A002351 BANCO COMERCIAL PORTUGUES, S.A.
015 B002351 S
015 C012351 LISBON
015 D012351 PORTUGAL
015 E042351 X
015 A002352 UNITED OVERSEAS BANK LTD.
015 B002352 S
015 C012352 SINGAPORE
015 D012352 SINGAPORE
015 E042352 X
015 A002353 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B002353 S
015 C012353 SINGAPORE
015 D012353 SINGAPORE
015 E042353 X
015 A002354 CESKOSLOVENSKA OBCHODNA BANKA AS
015 B002354 S
015 C012354 BRATISLAVA
015 D012354 SLOVAK REPUBLIC
015 E042354 X
015 A002355 STANDARD CORPORATE AND MERCHANT BANK
015 B002355 S
015 C012355 JOHANNESBURG
015 D012355 SOUTH AFRICA
015 E042355 X
015 A002356 SEOULBANK
015 B002356 S
015 C012356 SEOUL
015 D012356 SOUTH KOREA
015 E042356 X
015 A002357 BANCO BILBAO VIZCAYA
015 B002357 S
015 C012357 MADRID
015 D012357 SPAIN
015 E042357 X
015 A002358 STANDARD CHARTERED BANK
015 B002358 S
015 C012358 COLOMBO
015 D012358 SRI LANKA
015 E042358 X
<PAGE> PAGE 274
015 A002359 STANBIC BANK OF SWAZILAND LTD.
015 B002359 S
015 C012359 MBABANE
015 D012359 SWAZILAND
015 E042359 X
015 A002360 SKANDINAVISKA ENSKILDA BANKEN
015 B002360 S
015 C012360 STOCKHOLM
015 D012360 SWEDEN
015 E042360 X
015 A002361 UNION BANK OF SWITZERLAND
015 B002361 S
015 C012361 ZURICH
015 D012361 SWITZERLAND
015 E042361 X
015 A002362 BANK LEU LTD.
015 B002362 S
015 C012362 ZURICH
015 D012362 SWITZERLAND
015 E042362 X
015 A002363 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002363 S
015 C012363 TAIPEI
015 D012363 TAIWAN
015 E042363 X
015 A002364 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD.
015 B002364 S
015 C012364 BANGKOK
015 D012364 THAILAND
015 E042364 X
015 A002365 BANGKOK BANK PUBLIC COMPANY LTD.
015 B002365 S
015 C012365 BANGKOK
015 D012365 THAILAND
015 E042365 X
015 A002366 OSMANLI BANKASI A.S.
015 B002366 S
015 C012366 ISTANBUL
015 D012366 TURKEY
015 E042366 X
015 A002367 THE BANK OF NEW YORK
015 B002367 S
015 C012367 LONDON
015 D012367 UNITED KINGDOM
015 E042367 X
015 A002368 FIRST CHICAGO CLEARING CENTRE
015 B002368 S
015 C012368 LONDON
015 D012368 UNITED KINGDOM
015 E042368 X
015 A002369 THE FIRST NATIONAL BANK OF BOSTON
<PAGE> PAGE 275
015 B002369 S
015 C012369 MONTEVIDEO
015 D012369 URUGUAY
015 E042369 X
015 A002370 CITIBANK, N.A.
015 B002370 S
015 C012370 CARACAS
015 D012370 VENEZUELA
015 E042370 X
015 A002371 STANBIC BANK ZAMBIA LIMITED
015 B002371 S
015 C012371 LUSAKA
015 D012371 ZAMBIA
015 E042371 X
015 A002372 STANBIC BANK ZIMBABWE LTD.
015 B002372 S
015 C012372 HARARE
015 D012372 ZIMBABWE
015 E042372 X
015 A002373 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B002373 S
015 C012373 MAKATI CITY
015 D012373 PHILIPPINES
015 E042373 X
024 002300 N
025 D002301 0
025 D002302 0
025 D002303 0
025 D002304 0
025 D002305 0
025 D002306 0
025 D002307 0
025 D002308 0
028 A012300 8505
028 A022300 0
028 A032300 0
028 A042300 3335
028 B012300 6874
028 B022300 0
028 B032300 0
028 B042300 5124
028 C012300 7456
028 C022300 0
028 C032300 0
028 C042300 2793
028 D012300 9092
028 D022300 0
028 D032300 0
028 D042300 5333
028 E012300 9249
028 E022300 0
<PAGE> PAGE 276
028 E032300 0
028 E042300 1998
028 F012300 13417
028 F022300 0
028 F032300 0
028 F042300 6753
028 G012300 54593
028 G022300 0
028 G032300 0
028 G042300 25336
028 H002300 0
045 002300 Y
046 002300 N
047 002300 Y
048 002300 0.000
048 A012300 500000
048 A022300 0.750
048 B012300 500000
048 B022300 0.625
048 C012300 0
048 C022300 0.000
048 D012300 0
048 D022300 0.000
048 E012300 0
048 E022300 0.000
048 F012300 0
048 F022300 0.000
048 G012300 0
048 G022300 0.000
048 H012300 0
048 H022300 0.000
048 I012300 0
048 I022300 0.000
048 J012300 0
048 J022300 0.000
048 K012300 1000000
048 K022300 0.500
049 002300 N
050 002300 N
051 002300 N
052 002300 N
053 A002300 N
054 A002300 Y
054 B002300 Y
054 C002300 Y
054 D002300 N
054 E002300 N
054 F002300 N
054 G002300 Y
054 H002300 Y
054 I002300 N
<PAGE> PAGE 277
054 J002300 Y
054 K002300 N
054 L002300 Y
054 M002300 Y
054 N002300 N
054 O002300 N
055 A002300 N
055 B002300 N
056 002300 N
057 002300 N
058 A002300 Y
058 B002300 Y
058 C002300 Y
058 D002300 Y
058 E002300 N
059 002300 Y
060 A002300 Y
060 B002300 Y
061 002300 2000
062 A002300 N
062 B002300 0.0
062 C002300 0.0
062 D002300 0.0
062 E002300 0.0
062 F002300 0.0
062 G002300 0.0
062 H002300 0.0
062 I002300 0.0
062 J002300 0.0
062 K002300 0.0
062 L002300 0.0
062 M002300 0.0
062 N002300 0.0
062 O002300 0.0
062 P002300 0.0
062 Q002300 0.0
062 R002300 0.0
063 A002300 0
063 B002300 0.0
066 A002300 Y
066 B002300 N
066 C002300 Y
066 D002300 N
066 E002300 N
066 F002300 N
066 G002300 N
067 002300 N
068 A002300 N
068 B002300 N
069 002300 N
070 A012300 Y
<PAGE> PAGE 278
070 A022300 Y
070 B012300 Y
070 B022300 N
070 C012300 Y
070 C022300 N
070 D012300 Y
070 D022300 N
070 E012300 Y
070 E022300 N
070 F012300 Y
070 F022300 N
070 G012300 Y
070 G022300 N
070 H012300 Y
070 H022300 N
070 I012300 N
070 I022300 N
070 J012300 Y
070 J022300 N
070 K012300 Y
070 K022300 N
070 L012300 Y
070 L022300 Y
070 M012300 Y
070 M022300 Y
070 N012300 Y
070 N022300 N
070 O012300 N
070 O022300 N
070 P012300 Y
070 P022300 Y
070 Q012300 N
070 Q022300 N
070 R012300 N
070 R022300 N
071 A002300 53314
071 B002300 12530
071 C002300 62961
071 D002300 20
072 A002300 12
072 B002300 617
072 C002300 491
072 D002300 0
072 E002300 0
072 F002300 559
072 G002300 0
072 H002300 0
072 I002300 0
072 J002300 1
072 K002300 3
072 L002300 2
<PAGE> PAGE 279
072 M002300 0
072 N002300 0
072 O002300 0
072 P002300 0
072 Q002300 0
072 R002300 3
072 S002300 0
072 T002300 0
072 U002300 0
072 V002300 0
072 W002300 2
072 X002300 570
072 Y002300 0
072 Z002300 538
072AA002300 1766
072BB002300 1824
072CC012300 11236
072CC022300 0
072DD012300 110
072DD022300 0
072EE002300 0
073 A012300 0.0187
073 A022300 0.0000
073 B002300 0.0000
073 C002300 0.0000
074 A002300 679
074 B002300 18908
074 C002300 0
074 D002300 0
074 E002300 0
074 F002300 89751
074 G002300 0
074 H002300 0
074 I002300 0
074 J002300 238
074 K002300 0
074 L002300 64
074 M002300 0
074 N002300 109640
074 O002300 214
074 P002300 66
074 Q002300 0
074 R012300 0
074 R022300 0
074 R032300 0
074 R042300 5
074 S002300 0
074 T002300 109355
074 U012300 8150
074 U022300 0
074 V012300 13.42
<PAGE> PAGE 280
074 V022300 0.00
074 W002300 0.0000
074 X002300 3
074 Y002300 0
075 A002300 0
075 B002300 74490
076 002300 0.00
008 A002401 TEMPLETON INVESTMENT COUNSEL, INC.
008 B002401 A
008 C002401 801-15125
008 D012401 FT. LAUDERDALE
008 D022401 FL
008 D032401 33394
008 D042401 3091
015 A002401 THE CHASE MANHATTAN BANK, N.A.
015 B002401 C
015 C012401 NEW YORK
015 C022401 NY
015 C032401 10081
015 E012401 X
015 A002402 THE CHASE MANHATTAN BANK
015 B002402 S
015 C012402 BUENOS AIRES
015 D012402 ARGENTINA
015 E042402 X
015 A002403 THE CHASE MANHATTAN BANK
015 B002403 S
015 C012403 SYDNEY
015 D012403 AUSTRALIA
015 E042403 X
015 A002404 CREDITANSTALT-BANKVEREIN
015 B002404 S
015 C012404 VIENNA
015 D012404 AUSTRIA
015 E042404 X
015 A002405 THE BRITISH BANK OF THE MIDDLE EAST
015 B002405 S
015 C012405 MANAMA
015 D012405 BAHRAIN
015 E042405 X
015 A002406 STANDARD CHARTERED BANK PLC
015 B002406 S
015 C012406 DHAKA
015 D012406 BANGLADESH
015 E042406 X
015 A002407 GENERALE BANK
015 B002407 S
015 C012407 BRUSSELS
015 D012407 BELGIUM
015 E042407 X
015 A002408 BARCLAYS BANK OF BOTSWANA LTD.
<PAGE> PAGE 281
015 B002408 S
015 C012408 GABARONE
015 D012408 BOTSWANA
015 E042408 X
015 A002409 BANCO CHASE MANHATTAN, S.A.
015 B002409 S
015 C012409 SAO PAULO
015 D012409 BRAZIL
015 E042409 X
015 A002410 ROYAL BANK OF CANADA
015 B002410 S
015 C012410 TORONTO
015 D012410 CANADA
015 E042410 X
015 A002411 CANADA TRUSTCO MORTGAGE COMPANY
015 B002411 S
015 C012411 TORONTO
015 D012411 CANADA
015 E042411 X
015 A002412 THE CHASE MANHATTAN BANK
015 B002412 S
015 C012412 SANTIAGO
015 D012412 CHILE
015 E042412 X
015 A002413 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002413 S
015 C012413 SHENZHEN
015 D012413 CHINA
015 E042413 X
015 A002414 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002414 S
015 C012414 SHANGHAI
015 D012414 CHINA
015 E042414 X
015 A002415 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B002415 S
015 C012415 SANTAFE DE BOGOTA
015 D012415 COLOMBIA
015 E042415 X
015 A002416 BARCLAYS BANK PLC
015 B002416 S
015 C012416 CYPRUS
015 D012416 CYPRUS
015 E042416 X
015 A002417 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002417 S
015 C012417 PRAGUE
015 D012417 CZECH REPUBLIC
015 E042417 X
015 A002418 DEN DANSKE BANK
015 B002418 S
<PAGE> PAGE 282
015 C012418 COPENHAGEN
015 D012418 DENMARK
015 E042418 X
015 A002419 CITIBANK, N.A.
015 B002419 S
015 C012419 QUITO
015 D012419 ECUADOR
015 E042419 X
015 A002420 NATIONAL BANK OF EGYPT
015 B002420 S
015 C012420 CAIRO
015 D012420 EGYPT
015 E042420 X
015 A002421 MARITA BANK LTD.
015 B002421 S
015 C012421 HELSINKI
015 D012421 FINLAND
015 E042421 X
015 A002422 BANQUE PARIBAS
015 B002422 S
015 C012422 PARIS
015 D012422 FRANCE
015 E042422 X
015 A002423 DRESDNER BANK AG
015 B002423 S
015 C012423 FRANKFURT
015 D012423 GERMANY
015 E042423 X
015 A002424 BARCLAYS BANK OF GHANA LTD.
015 B002424 S
015 C012424 ACCRA
015 D012424 GHANA
015 E042424 X
015 A002425 BARCLAYS BANK PLC
015 B002425 S
015 C012425 ATHENS
015 D012425 GREECE
015 E042425 X
015 A002426 THE CHASE MANHATTAN BANK
015 B002426 S
015 C012426 HONG KONG
015 D012426 HONG KONG
015 E042426 X
015 A002427 CITIBANK BUDAPEST RT.
015 B002427 S
015 C012427 BUDAPEST
015 D012427 HUNGARY
015 E042427 X
015 A002428 KELER LTD.
015 B002428 S
015 C012428 BUDAPEST
<PAGE> PAGE 283
015 D012428 HUNGARY
015 E042428 X
015 A002429 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002429 S
015 C012429 BOMBAY
015 D012429 INDIA
015 E042429 X
015 A002430 DEUTSCHE BANK, A.G., BOMBAY
015 B002430 S
015 C012430 BOMBAY
015 D012430 INDIA
015 E042430 X
015 A002431 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002431 S
015 C012431 JAKARTA
015 D012431 INDONESIA
015 E042431 X
015 A002432 BANK OF IRELAND
015 B002432 S
015 C012432 DUBLIN
015 D012432 IRELAND
015 E042432 X
015 A002433 BANK LEUMI LE-ISRAEL B.M.
015 B002433 S
015 C012433 TEL AVIV
015 D012433 ISRAEL
015 E042433 X
015 A002434 BANQUE PARIBUS, MILAN
015 B002434 S
015 C012434 MILAN
015 D012434 ITALY
015 E042434 X
015 A002435 THE FUJI BANK LTD.
015 B002435 S
015 C012435 TOKYO
015 D012435 JAPAN
015 E042435 X
015 A002436 JASDEC
015 B002436 S
015 C012436 TOKYO
015 D012436 JAPAN
015 E042436 X
015 A002437 ARAB BANK, LTD.
015 B002437 S
015 C012437 AMMAN
015 D012437 JORDAN
015 E042437 X
015 A002438 BARCLAYS BANK OF KENYA LTD.
015 B002438 S
015 C012438 NAIROBI
015 D012438 KENYA
<PAGE> PAGE 284
015 E042438 X
015 A002439 CEDEL SA
015 B002439 S
015 C012439 LUXEMBOURG CITY
015 D012439 LUXEMBOURG
015 E042439 X
015 A002440 BANQUE GENERALE DU LUXEMBOURG
015 B002440 S
015 C012440 LUXEMBOURG CITY
015 D012440 LUXEMBOURG
015 E042440 X
015 A002441 THE CHASE MANHATTAN BANK, BERHAD
015 B002441 S
015 C012441 KUALA LUMPUR
015 D012441 MALAYSIA
015 E042441 X
015 A002442 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002442 S
015 C012442 PORT LOUIS
015 D012442 MAURITIUS
015 E042442 X
015 A002443 CENTRAL DEPOSITORY AND SETTLEMENT CO., LTD.
015 B002443 S
015 C012443 PORT LOUIS
015 D012443 MAURITIUS
015 E042443 X
015 A002444 CHASE MANHATTAN BANK MEXICO S.A.
015 B002444 S
015 C012444 MEXICO CITY
015 D012444 MEXICO
015 E042444 X
015 A002445 BANQUE COMMERCIALE DU MAROC
015 B002445 S
015 C012445 CASABLANCA
015 D012445 MOROCCO
015 E042445 X
015 A002446 STANDARD BANK NAMIBIA LTD.
015 B002446 S
015 C012446 WINDHOEK
015 D012446 NAMIBIA
015 E042446 X
015 A002447 ABN-AMRO BANK NV
015 B002447 S
015 C012447 AMSTERDAM
015 D012447 NETHERLANDS
015 E042447 X
015 A002448 NATIONAL NOMINEES LTD.
015 B002448 S
015 C012448 AUCKLAND
015 D012448 NEW ZEALAND
015 E042448 X
<PAGE> PAGE 285
015 A002449 AUSTRACLEAR NEW ZEALAND
015 B002449 S
015 C012449 WELLINGTON
015 D012449 NEW ZEALAND
015 E042449 X
015 A002450 DEN NORSKE BANK
015 B002450 S
015 C012450 OSLO
015 D012450 NORWAY
015 E042450 X
015 A002451 THE BRITISH BANK OF THE MIDDLE EAST
015 B002451 S
015 C012451 MUSCAT
015 D012451 OMAN
015 E042451 X
015 A002452 CITIBANK, N.A.
015 B002452 S
015 C012452 KARACHI
015 D012452 PAKISTAN
015 E042452 X
015 A002453 DEUTSCHE BANK, A.G.
015 B002453 S
015 C012453 KARACHI
015 D012453 PAKISTAN
015 E042453 X
015 A002454 CITIBANK, N.A.
015 B002454 S
015 C012454 LIMA
015 D012454 PERU
015 E042454 X
015 A002455 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002455 S
015 C012455 MANILA
015 D012455 PHILIPPINES
015 E042455 X
015 A002456 BANK HANDLOWY W. WARZAWIE, S.A.
015 B002456 S
015 C012456 WARSAW
015 D012456 POLAND
015 E042456 X
015 A002457 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B002457 S
015 C012457 LISBON
015 D012457 PORTUGAL
015 E042457 X
015 A002458 THE CHASE MANHATTAN BANK INTERNATIONAL
015 B002458 S
015 C012458 MOSCOW
015 D012458 RUSSIA
015 E042458 X
015 A002459 THE CHASE MANHATTAN BANK
<PAGE> PAGE 286
015 B002459 S
015 C012459 SINGAPORE
015 D012459 SINGAPORE
015 E042459 X
015 A002460 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002460 S
015 C012460 BRATISLAVA
015 D012460 SLOVAKIA
015 E042460 X
015 A002461 STANDARD BANK OF SOUTH AFRICA LTD.
015 B002461 S
015 C012461 JOHANNESBURG
015 D012461 SOUTH AFRICA
015 E042461 X
015 A002462 THE CENTRAL DEPOSITORY LTD.
015 B002462 S
015 C012462 JOHANNESBURG
015 D012462 SOUTH AFRICA
015 E042462 X
015 A002463 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002463 S
015 C012463 SEOUL
015 D012463 SOUTH KOREA
015 E042463 X
015 A002464 THE CHASE MANHATTAN BANK
015 B002464 S
015 C012464 MADRID
015 D012464 SPAIN
015 E042464 X
015 A002465 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002465 S
015 C012465 COLOMBO
015 D012465 SRI LANKA
015 E042465 X
015 A002466 STANBIC BANK SWAZILAND LTD.
015 B002466 S
015 C012466 MBABANE
015 D012466 SWAZILAND
015 E042466 X
015 A002467 SKANDINAVISKA ENSKILDA BANKEN
015 B002467 S
015 C012467 STOCKHOLM
015 D012467 SWEDEN
015 E042467 X
015 A002468 UNION BANK OF SWITZERLAND
015 B002468 S
015 C012468 ZURICH
015 D012468 SWITZERLAND
015 E042468 X
015 A002469 THE CHASE MANHATTAN BANK
015 B002469 S
<PAGE> PAGE 287
015 C012469 TAIPEI
015 D012469 TAIWAN
015 E042469 X
015 A002470 THE CHASE MANHATTAN BANK
015 B002470 S
015 C012470 BANGKOK
015 D012470 THAILAND
015 E042470 X
015 A002471 THE CHASE MANHATTAN BANK
015 B002471 S
015 C012471 ISTANBUL
015 D012471 TURKEY
015 E042471 X
015 A002472 TAKASBANK (TVS) (DEPOSITORY)
015 B002472 S
015 C012472 ISTANBUL
015 D012472 TURKEY
015 E042472 X
015 A002473 THE CHASE MANHATTAN BANK
015 B002473 S
015 C012473 LONDON
015 D012473 UNITED KINGDOM
015 E042473 X
015 A002474 FIRST CHICAGO NBD CORP.
015 B002474 S
015 C012474 LONDON
015 D012474 UNITED KINGDOM
015 E042474 X
015 A002475 THE FIRST NATIONAL BANK OF BOSTON
015 B002475 S
015 C012475 MONTEVIDEO
015 D012475 URUGUAY
015 E042475 X
015 A002476 CITIBANK, N.A.
015 B002476 S
015 C012476 CARACAS
015 D012476 VENEZUELA
015 E042476 X
015 A002477 BARCLAYS BANK OF ZAMBIA LTD.
015 B002477 S
015 C012477 LUSAKA
015 D012477 ZAMBIA
015 E042477 X
015 A002478 BARCLAYS BANK PLC
015 B002478 S
015 C012478 HARARE
015 D012478 ZIMBABWE
015 E042478 X
015 A002479 THE BANK OF BERMUDA LTD.
015 B002479 S
015 C012479 HAMILTON
<PAGE> PAGE 288
015 D012479 BERMUDA
015 E042479 X
015 A002480 MISR COMPANY FOR CLEARING AND SEC DEPOSITORY
015 B002480 S
015 C012480 CAIRO
015 D012480 EGYPT
015 E042480 X
015 A002481 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B002481 S
015 C012481 ABIDJAN
015 D012481 IVORY COAST
015 E042481 X
015 A002482 THE BRITISH BANK OF THE MIDDLE EAST
015 B002482 S
015 C012482 BEIRUT
015 D012482 LEBANON
015 E042482 X
015 A002483 CLRG CTR OF FIN INST FOR LEB & THE MD E SAL
015 B002483 S
015 C012483 BEIRUT
015 D012483 LEBANON
015 E042483 X
015 A002484 CENTRAL DEPOSITORY CO. OF PAKISTAN LTD.
015 B002484 S
015 C012484 KARACHI
015 D012484 PAKISTAN
015 E042484 X
015 A002485 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B002485 S
015 C012485 MAKATI CITY
015 D012485 PHILIPPINES
015 E042485 X
015 A002486 ING BANK N.V., BUCHAREST BRANCH
015 B002486 S
015 C012486 BUCHAREST
015 D012486 ROMANIA
015 E042486 X
015 A002487 NAT CO. FOR CLEARING, STLMNT AND DEP FOR SEC
015 B002487 S
015 C012487 BUCHAREST
015 D012487 ROMANIA
015 E042487 X
015 A002488 BUCHAREST STOCK EXCHANGE
015 B002488 S
015 C012488 BUCHAREST
015 D012488 ROMANIA
015 E042488 X
024 002400 N
025 D002401 0
025 D002402 0
025 D002403 0
<PAGE> PAGE 289
025 D002404 0
025 D002405 0
025 D002406 0
025 D002407 0
025 D002408 0
028 A012400 4554
028 A022400 0
028 A032400 0
028 A042400 866
028 B012400 3383
028 B022400 0
028 B032400 0
028 B042400 2011
028 C012400 2733
028 C022400 0
028 C032400 0
028 C042400 2755
028 D012400 1629
028 D022400 0
028 D032400 0
028 D042400 2312
028 E012400 1607
028 E022400 0
028 E032400 0
028 E042400 910
028 F012400 1172
028 F022400 0
028 F032400 0
028 F042400 993
028 G012400 15078
028 G022400 0
028 G032400 0
028 G042400 9847
028 H002400 0
045 002400 Y
046 002400 N
047 002400 Y
048 002400 0.000
048 A012400 200000
048 A022400 0.850
048 B012400 1100000
048 B022400 0.765
048 C012400 0
048 C022400 0.000
048 D012400 0
048 D022400 0.000
048 E012400 0
048 E022400 0.000
048 F012400 0
048 F022400 0.000
048 G012400 0
<PAGE> PAGE 290
048 G022400 0.000
048 H012400 0
048 H022400 0.000
048 I012400 0
048 I022400 0.000
048 J012400 0
048 J022400 0.000
048 K012400 1300000
048 K022400 0.680
049 002400 N
050 002400 N
051 002400 N
052 002400 N
053 A002400 N
054 A002400 Y
054 B002400 Y
054 C002400 Y
054 D002400 N
054 E002400 N
054 F002400 N
054 G002400 Y
054 H002400 Y
054 I002400 N
054 J002400 Y
054 K002400 N
054 L002400 Y
054 M002400 Y
054 N002400 N
054 O002400 N
055 A002400 N
055 B002400 N
056 002400 Y
057 002400 N
058 A002400 Y
058 B002400 Y
058 C002400 Y
058 D002400 Y
058 E002400 N
059 002400 Y
060 A002400 Y
060 B002400 Y
061 002400 2000
062 A002400 N
062 B002400 0.0
062 C002400 0.0
062 D002400 0.0
062 E002400 0.0
062 F002400 0.0
062 G002400 0.0
062 H002400 0.0
062 I002400 0.0
<PAGE> PAGE 291
062 J002400 0.0
062 K002400 0.0
062 L002400 0.0
062 M002400 0.0
062 N002400 0.0
062 O002400 0.0
062 P002400 0.0
062 Q002400 0.0
062 R002400 0.0
063 A002400 0
063 B002400 0.0
066 A002400 Y
066 B002400 N
066 C002400 N
066 D002400 Y
066 E002400 N
066 F002400 N
066 G002400 N
067 002400 N
068 A002400 N
068 B002400 Y
069 002400 N
070 A012400 Y
070 A022400 Y
070 B012400 Y
070 B022400 N
070 C012400 Y
070 C022400 N
070 D012400 Y
070 D022400 N
070 E012400 Y
070 E022400 N
070 F012400 Y
070 F022400 N
070 G012400 Y
070 G022400 N
070 H012400 Y
070 H022400 N
070 I012400 N
070 I022400 N
070 J012400 Y
070 J022400 Y
070 K012400 Y
070 K022400 N
070 L012400 Y
070 L022400 Y
070 M012400 Y
070 M022400 Y
070 N012400 Y
070 N022400 N
070 O012400 Y
<PAGE> PAGE 292
070 O022400 N
070 P012400 Y
070 P022400 N
070 Q012400 N
070 Q022400 N
070 R012400 N
070 R022400 N
071 A002400 25746
071 B002400 4470
071 C002400 20912
071 D002400 21
072 A002400 12
072 B002400 395
072 C002400 675
072 D002400 0
072 E002400 0
072 F002400 239
072 G002400 42
072 H002400 0
072 I002400 0
072 J002400 12
072 K002400 1
072 L002400 0
072 M002400 0
072 N002400 2
072 O002400 0
072 P002400 0
072 Q002400 0
072 R002400 3
072 S002400 0
072 T002400 0
072 U002400 0
072 V002400 0
072 W002400 1
072 X002400 300
072 Y002400 0
072 Z002400 770
072AA002400 1330
072BB002400 757
072CC012400 0
072CC022400 2404
072DD012400 156
072DD022400 0
072EE002400 0
073 A012400 0.0650
073 A022400 0.0000
073 B002400 0.0000
073 C002400 0.0000
074 A002400 7
074 B002400 2288
074 C002400 284
<PAGE> PAGE 293
074 D002400 0
074 E002400 1559
074 F002400 27939
074 G002400 0
074 H002400 0
074 I002400 0
074 J002400 556
074 K002400 0
074 L002400 118
074 M002400 0
074 N002400 32751
074 O002400 484
074 P002400 27
074 Q002400 0
074 R012400 0
074 R022400 0
074 R032400 0
074 R042400 39
074 S002400 0
074 T002400 32201
074 U012400 2923
074 U022400 0
074 V012400 11.02
074 V022400 0.00
074 W002400 0.0000
074 X002400 3
074 Y002400 0
075 A002400 0
075 B002400 28149
076 002400 0.00
008 A002501 FRANKLIN MUTUAL ADVISERS, INC.
008 B002501 A
008 C002501 801-53068
008 D012501 SHORT HILLS
008 D022501 NJ
008 D032501 07078
015 A002501 STATE STREET BANK
015 B002501 C
015 C012501 BOSTON
015 C022501 MA
015 C032501 02105
015 E012501 X
015 A002502 CITIBANK, N.A. ARGENTINA
015 B002502 S
015 C012502 BUENOS AIRES
015 D012502 ARGENTINA
015 E042502 X
015 A002503 WESTPAC BANKING CORP.
015 B002503 S
015 C012503 SYDNEY
015 D012503 AUSTRALIA
<PAGE> PAGE 294
015 E042503 X
015 A002504 GIROCREDIT BANK AKTIENGESELLSCHAFT DER SPARK.
015 B002504 S
015 C012504 VIENNA
015 D012504 AUSTRIA
015 E042504 X
015 A002505 STANDARD CHARTERED BANK
015 B002505 S
015 C012505 DHAKA
015 D012505 BANGLADESH
015 E042505 X
015 A002506 GENERALE BANK
015 B002506 S
015 C012506 BRUSSELS
015 D012506 BELGIUM
015 E042506 X
015 A002507 BARCLAYS BANK OF BOTSWANA LTD.
015 B002507 S
015 C012507 GABARONE
015 D012507 BOTSWANA
015 E042507 X
015 A002508 CITIBANK, N.A. BRAZIL
015 B002508 S
015 C012508 SAO PAULO
015 D012508 BRAZIL
015 E042508 X
015 A002509 CANADA TRUSTCO MORTGAGE COMPANY
015 B002509 S
015 C012509 TORONTO
015 D012509 CANADA
015 E042509 X
015 A002510 CITIBANK, N.A.
015 B002510 S
015 C012510 SANTIAGO
015 D012510 CHILE
015 E042510 X
015 A002511 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002511 S
015 C012511 SHENZHEN
015 D012511 CHINA
015 E042511 X
015 A002512 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002512 S
015 C012512 SHANGHAI
015 D012512 CHINA
015 E042512 X
015 A002513 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B002513 S
015 C012513 BOGOTA
015 D012513 COLOMBIA
015 E042513 X
<PAGE> PAGE 295
015 A002514 BARCLAYS BANK PLC CYPRUS OFFSHORE BANKING UN.
015 B002514 S
015 C012514 NICOSIA
015 D012514 CYPRUS
015 E042514 X
015 A002515 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002515 S
015 C012515 PRAGUE
015 D012515 CZECH REPUBLIC
015 E042515 X
015 A002516 DEN DANSKE BANK
015 B002516 S
015 C012516 COPENHAGEN
015 D012516 DENMARK
015 E042516 X
015 A002517 CITIBANK, N.A.
015 B002517 S
015 C012517 QUITO
015 D012517 ECUADOR
015 E042517 X
015 A002518 NATIONAL BANK OF EGYPT
015 B002518 S
015 C012518 CAIRO
015 D012518 EGYPT
015 E042518 X
015 A002519 MERITA BANK LTD.
015 B002519 S
015 C012519 HELSINKI
015 D012519 FINLAND
015 E042519 X
015 A002520 BANQUE PARIBAS
015 B002520 S
015 C012520 PARIS
015 D012520 FRANCE
015 E042520 X
015 A002521 DRESDNER BANK A.G.
015 B002521 S
015 C012521 FRANKFURT
015 D012521 GERMANY
015 E042521 X
015 A002522 BARCLAYS BANK OF GHANA LTD.
015 B002522 S
015 C012522 ACCRA
015 D012522 GHANA
015 E042522 X
015 A002523 NATIONAL BANK OF GREECE S.A.
015 B002523 S
015 C012523 ATHENS
015 D012523 GREECE
015 E042523 X
015 A002524 STANDARD CHARTERED BANK
<PAGE> PAGE 296
015 B002524 S
015 C012524 HONG KONG
015 D012524 HONG KONG
015 E042524 X
015 A002525 CITIBANK BUDAPEST RT.
015 B002525 S
015 C012525 BUDAPEST
015 D012525 HUNGARY
015 E042525 X
015 A002526 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002526 S
015 C012526 BOMBAY
015 D012526 INDIA
015 E042526 X
015 A002527 DEUTSCHE BANK AG
015 B002527 S
015 C012527 BOMBAY
015 D012527 INDIA
015 E042527 X
015 A002528 STANDARD CHARTERED BANK
015 B002528 S
015 C012528 JAKARTA
015 D012528 INDONESIA
015 E042528 X
015 A002529 BANK OF IRELAND
015 B002529 S
015 C012529 DUBLIN
015 D012529 IRELAND
015 E042529 X
015 A002530 BANK HAPOALIM B.M.
015 B002530 S
015 C012530 TEL AVIV
015 D012530 ISRAEL
015 E042530 X
015 A002531 BANQUE PARIBAS
015 B002531 S
015 C012531 MILAN
015 D012531 ITALY
015 E042531 X
015 A002532 MORGAN GUARANTY TRUST COMPANY
015 B002532 S
015 C012532 MILAN
015 D012532 ITALY
015 E042532 X
015 A002533 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B002533 S
015 C012533 ABIDJAN
015 D012533 IVORY COAST
015 E042533 X
015 A002534 THE FUJI BANK LTD.
015 B002534 S
<PAGE> PAGE 297
015 C012534 TOKYO
015 D012534 JAPAN
015 E042534 X
015 A002535 THE DAIWA BANK, LTD.
015 B002535 S
015 C012535 TOKYO
015 D012535 JAPAN
015 E042535 X
015 A002536 THE SUMITOMO TRUST AND BANKING CO. LTD.
015 B002536 S
015 C012536 TOKYO
015 D012536 JAPAN
015 E042536 X
015 A002537 THE BRITISH BANK OF THE MIDDLE EAST
015 B002537 S
015 C012537 AMMAN
015 D012537 JORDAN
015 E042537 X
015 A002538 BARCLAYS BANK OF KENYA LTD.
015 B002538 S
015 C012538 NAIROBI
015 D012538 KENYA
015 E042538 X
015 A002539 CEDEL
015 B002539 S
015 C012539 LUXEMBOURG CITY
015 D012539 LUXEMBOURG
015 E042539 X
015 A002540 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B002540 S
015 C012540 KUALA LUMPUR
015 D012540 MALAYSIA
015 E042540 X
015 A002541 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002541 S
015 C012541 PORT LOUIS
015 D012541 MAURITIUS
015 E042541 X
015 A002542 CITIBANK MEXICO, S.A.
015 B002542 S
015 C012542 MEXICO CITY
015 D012542 MEXICO
015 E042542 X
015 A002543 BANQUE COMMERCIALE DU MAROC
015 B002543 S
015 C012543 CASABLANCA
015 D012543 MOROCCO
015 E042543 X
015 A002544 MEESPIERSON NV
015 B002544 S
015 C012544 AMSTERDAM
<PAGE> PAGE 298
015 D012544 NETHERLANDS
015 E042544 X
015 A002545 ANZ BANKING GROUP LTD.
015 B002545 S
015 C012545 WELLINGTON
015 D012545 NEW ZEALAND
015 E042545 X
015 A002546 CHRISTIANIA BANK OG KREDITKASSE
015 B002546 S
015 C012546 OSLO
015 D012546 NORWAY
015 E042546 X
015 A002547 DEUTSCHE BANK AG
015 B002547 S
015 C012547 KARACHI
015 D012547 PAKISTAN
015 E042547 X
015 A002548 CITIBANK, N.A.
015 B002548 S
015 C012548 LIMA
015 D012548 PERU
015 E042548 X
015 A002549 STANDARD CHARTERED BANK
015 B002549 S
015 C012549 MANILA
015 D012549 PHILIPPINES
015 E042549 X
015 A002550 CITIBANK, POLAND S.A.
015 B002550 S
015 C012550 WARSAW
015 D012550 POLAND
015 E042550 X
015 A002551 BANCO COMERCIAL PORTUGUES
015 B002551 S
015 C012551 LISBON
015 D012551 PORTUGAL
015 E042551 X
015 A002552 CREDIT SUISSE LTD.
015 B002552 S
015 C012552 MOSCOW
015 D012552 RUSSIA
015 E042552 X
015 A002553 THE DEVELOPMENT BANK OF SINGAPORE LTD.
015 B002553 S
015 C012553 SINGAPORE
015 D012553 SINGAPORE
015 E042553 X
015 A002554 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002554 S
015 C012554 BRATISLAVA
015 D012554 SLOVAK REPUBLIC
<PAGE> PAGE 299
015 E042554 X
015 A002555 STANDARD BANK OF SOUTH AFRICA LTD.
015 B002555 S
015 C012555 JOHANNESBURG
015 D012555 SOUTH AFRICA
015 E042555 X
015 A002556 SEOULBANK
015 B002556 S
015 C012556 SEOUL
015 D012556 SOUTH KOREA
015 E042556 X
015 A002557 BANCO SANTANDER, S.A.
015 B002557 S
015 C012557 MADRID
015 D012557 SPAIN
015 E042557 X
015 A002558 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002558 S
015 C012558 COLOMBO
015 D012558 SRI LANKA
015 E042558 X
015 A002559 BARCLAYS BANK OF SWAZILAND LTD.
015 B002559 S
015 C012559 MBABANE
015 D012559 SWAZILAND
015 E042559 X
015 A002560 SKANDINAVISKA ENSKILDA BANKEN
015 B002560 S
015 C012560 STOCKHOLM
015 D012560 SWEDEN
015 E042560 X
015 A002561 UNION BANK OF SWITZERLAND
015 B002561 S
015 C012561 ZURICH
015 D012561 SWITZERLAND
015 E042561 X
015 A002562 CENTRAL TRUST OF CHINA
015 B002562 S
015 C012562 TAIPEI
015 D012562 TAIWAN
015 E042562 X
015 A002563 STANDARD CHARTERED BANK
015 B002563 S
015 C012563 BANGKOK
015 D012563 THAILAND
015 E042563 X
015 A002564 CITIBANK, N.A.-ISTANBUL BRANCH
015 B002564 S
015 C012564 ISTANBUL
015 D012564 TURKEY
015 E042564 X
<PAGE> PAGE 300
015 A002565 STATE STREET BANK AND TRUST COMPANY
015 B002565 S
015 C012565 LONDON
015 D012565 UNITED KINGDOM
015 E042565 X
015 A002566 CITIBANK, N.A.
015 B002566 S
015 C012566 MONTEVIDEO
015 D012566 URUGUAY
015 E042566 X
015 A002567 CITIBANK, N.A., VENEZUELA
015 B002567 S
015 C012567 CARACAS
015 D012567 VENEZUELA
015 E042567 X
015 A002568 BARCLAYS BANK OF ZAMBIA LTD.
015 B002568 S
015 C012568 LUSAKA
015 D012568 ZAMBIA
015 E042568 X
015 A002569 BARCLAYS BANK OF ZIMBABWE LTD.
015 B002569 S
015 C012569 HARARE
015 D012569 ZIMBABWE
015 E042569 X
015 A002570 THE EUROCLEAR SYSTEM
015 B002570 S
015 C012570 BRUSSELS
015 D012570 BELGIUM
015 E042570 X
015 A002571 MISR CLEARING AND SECURITIES DEPOSITORY
015 B002571 S
015 C012571 CAIRO
015 D012571 EGYPT
015 E042571 X
015 A002572 CENTRAL DEPOSITORY & SETTLEMENT CO. LTD.
015 B002572 S
015 C012572 PORT LOUIS
015 D012572 MAURITIUS
015 E042572 X
015 A002573 THE PHILIPPINE CENTRAL DEPOSITORY, INC.
015 B002573 S
015 C012573 MANILA
015 D012573 PHILIPPINES
015 E042573 X
024 002500 Y
025 A002501 MORGAN STANLEY & CO. INC.
025 B002501 13-2655998
025 C002501 E
025 D002501 384
025 D002502 0
<PAGE> PAGE 301
025 D002503 0
025 D002504 0
025 D002505 0
025 D002506 0
025 D002507 0
025 D002508 0
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028 A042500 2125
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028 D012500 14900
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028 D032500 0
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028 G032500 0
028 G042500 19781
028 H002500 0
045 002500 Y
046 002500 N
047 002500 Y
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048 A022500 0.000
048 B012500 0
048 B022500 0.000
048 C012500 0
048 C022500 0.000
048 D012500 0
048 D022500 0.000
048 E012500 0
048 E022500 0.000
048 F012500 0
048 F022500 0.000
<PAGE> PAGE 302
048 G012500 0
048 G022500 0.000
048 H012500 0
048 H022500 0.000
048 I012500 0
048 I022500 0.000
048 J012500 0
048 J022500 0.000
048 K012500 0
048 K022500 0.000
049 002500 N
050 002500 N
051 002500 N
052 002500 N
053 A002500 N
054 A002500 Y
054 B002500 Y
054 C002500 Y
054 D002500 N
054 E002500 N
054 F002500 N
054 G002500 Y
054 H002500 Y
054 I002500 N
054 J002500 Y
054 K002500 N
054 L002500 Y
054 M002500 Y
054 N002500 N
054 O002500 N
055 A002500 N
055 B002500 N
056 002500 Y
057 002500 N
058 A002500 Y
058 B002500 Y
058 C002500 Y
058 D002500 Y
058 E002500 N
059 002500 Y
060 A002500 Y
060 B002500 Y
061 002500 2000
062 A002500 N
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062 C002500 0.0
062 D002500 0.0
062 E002500 0.0
062 F002500 0.0
062 G002500 0.0
062 H002500 0.0
<PAGE> PAGE 303
062 I002500 0.0
062 J002500 0.0
062 K002500 0.0
062 L002500 0.0
062 M002500 0.0
062 N002500 0.0
062 O002500 0.0
062 P002500 0.0
062 Q002500 0.0
062 R002500 0.0
063 A002500 0
063 B002500 0.0
066 A002500 Y
066 B002500 N
066 C002500 N
066 D002500 Y
066 E002500 N
066 F002500 N
066 G002500 N
067 002500 N
068 A002500 N
068 B002500 N
069 002500 N
070 A012500 Y
070 A022500 Y
070 B012500 Y
070 B022500 N
070 C012500 Y
070 C022500 N
070 D012500 Y
070 D022500 N
070 E012500 Y
070 E022500 N
070 F012500 Y
070 F022500 N
070 G012500 Y
070 G022500 N
070 H012500 Y
070 H022500 N
070 I012500 N
070 I022500 N
070 J012500 Y
070 J022500 Y
070 K012500 Y
070 K022500 N
070 L012500 Y
070 L022500 Y
070 M012500 Y
070 M022500 Y
070 N012500 Y
070 N022500 N
<PAGE> PAGE 304
070 O012500 Y
070 O022500 N
070 P012500 Y
070 P022500 N
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070 Q022500 N
070 R012500 Y
070 R022500 N
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<PAGE> PAGE 305
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008 A002601 FRANKLIN MUTUAL ADVISERS, INC.
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008 D012601 SHORT HILLS
008 D022601 NJ
008 D032601 07078
015 A002601 STATE STREET BANK
015 B002601 C
015 C012601 BOSTON
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015 C032601 02105
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015 A002602 CITIBANK, N.A. ARGENTINA
015 B002602 S
015 C012602 BUENOS AIRES
015 D012602 ARGENTINA
015 E042602 X
015 A002603 WESTPAC BANKING CORP.
015 B002603 S
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<PAGE> PAGE 306
015 D012603 AUSTRALIA
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015 A002604 GIROCREDIT BANK AKTIENGESELLSCHAFT DER SPARK.
015 B002604 S
015 C012604 VIENNA
015 D012604 AUSTRIA
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015 A002605 STANDARD CHARTERED BANK
015 B002605 S
015 C012605 DHAKA
015 D012605 BANGLADESH
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015 A002606 GENERALE BANK
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015 C012606 BRUSSELS
015 D012606 BELGIUM
015 E042606 X
015 A002607 BARCLAYS BANK OF BOTSWANA LTD.
015 B002607 S
015 C012607 GABORONE
015 D012607 BOTSWANA
015 E042607 X
015 A002608 CITIBANK, N.A. BRAZIL
015 B002608 S
015 C012608 SAO PAULO
015 D012608 BRAZIL
015 E042608 X
015 A002609 CANADA TRUSTCO MORTGAGE COMPANY
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015 C012609 TORONTO
015 D012609 CANADA
015 E042609 X
015 A002610 CITIBANK, N.A.
015 B002610 S
015 C012610 SANTIAGO
015 D012610 CHILE
015 E042610 X
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015 B002611 S
015 C012611 SHENZHEN
015 D012611 CHINA
015 E042611 X
015 A002612 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002612 S
015 C012612 SHANGHAI
015 D012612 CHINA
015 E042612 X
015 A002613 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
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015 C012613 BOGOTA
015 D012613 COLOMBIA
<PAGE> PAGE 307
015 E042613 X
015 A002614 BARCLAYS BANK PLC CYPRUS OFFSHORE BANKING UN.
015 B002614 S
015 C012614 NICOSIA
015 D012614 CYPRUS
015 E042614 X
015 A002615 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B002615 S
015 C012615 PRAGUE
015 D012615 CZECH REPUBLIC
015 E042615 X
015 A002616 DEN DANSKE BANK
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015 D012616 DENMARK
015 E042616 X
015 A002617 CITIBANK, N.A.
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015 C012617 QUITO
015 D012617 ECUADOR
015 E042617 X
015 A002618 NATIONAL BANK OF EGYPT
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015 C012618 CAIRO
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015 A002622 BARCLAYS BANK OF GHANA LTD.
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015 A002623 NATIONAL BANK OF GREECE S.A.
015 B002623 S
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<PAGE> PAGE 308
015 A002624 STANDARD CHARTERED BANK
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015 E042624 X
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015 D012625 HUNGARY
015 E042625 X
015 A002626 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002626 S
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015 D012626 INDIA
015 E042626 X
015 A002627 DEUTSCHE BANK AG
015 B002627 S
015 C012627 BOMBAY
015 D012627 INDIA
015 E042627 X
015 A002628 STANDARD CHARTERED BANK
015 B002628 S
015 C012628 JAKARTA
015 D012628 INDONESIA
015 E042628 X
015 A002629 BANK OF IRELAND
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015 C012629 DUBLIN
015 D012629 IRELAND
015 E042629 X
015 A002630 BANK HAPOALIM B.M.
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015 C012630 TEL AVIV
015 D012630 ISRAEL
015 E042630 X
015 A002631 BANQUE PARIBAS
015 B002631 S
015 C012631 MILAN
015 D012631 ITALY
015 E042631 X
015 A002632 MORGAN GUARANTY TRUST COMPANY
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015 C012632 MILAN
015 D012632 ITALY
015 E042632 X
015 A002633 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B002633 S
015 C012633 ABIDJAN
015 D012633 IVORY COAST
015 E042633 X
015 A002634 THE FUJI BANK LTD.
<PAGE> PAGE 309
015 B002634 S
015 C012634 TOKYO
015 D012634 JAPAN
015 E042634 X
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015 B002635 S
015 C012635 TOKYO
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015 B002637 S
015 C012637 AMMAN
015 D012637 JORDAN
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015 A002638 BARCLAYS BANK OF KENYA LTD.
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015 C012639 LUXEMBOURG CITY
015 D012639 LUXEMBOURG
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015 D012641 MAURITIUS
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015 D012643 MOROCCO
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<PAGE> PAGE 310
015 C012644 AMSTERDAM
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015 A002652 CREDIT SUISSE LTD.
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015 D012653 SINGAPORE
015 E042653 X
015 A002654 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
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015 C012654 BRATISLAVA
<PAGE> PAGE 311
015 D012654 SLOVAK REPUBLIC
015 E042654 X
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015 B002655 S
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015 A002656 SEOULBANK
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015 C012657 MADRID
015 D012657 SPAIN
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015 A002658 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002658 S
015 C012658 COLOMBO
015 D012658 SRI LANKA
015 E042658 X
015 A002659 BARCLAYS BANK OF SWAZILAND LTD.
015 B002659 S
015 C012659 MBABANE
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015 A002660 SKANDINAVISKA ENSKILDA BANKEN
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015 D012660 SWEDEN
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015 B002661 S
015 C012661 ZURICH
015 D012661 SWITZERLAND
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015 C012662 TAIPEI
015 D012662 TAIWAN
015 E042662 X
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015 E042663 X
015 A002664 CITIBANK, N.A.-ISTANBUL BRANCH
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015 C012664 ISTANBUL
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<PAGE> PAGE 312
015 E042664 X
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015 A002666 CITIBANK, N.A.
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015 A002667 CITIBANK, N.A., VENEZUELA
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015 C012667 CARACAS
015 D012667 VENEZUELA
015 E042667 X
015 A002668 BARCLAYS BANK OF ZAMBIA LTD.
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015 C012668 LUSAKA
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015 A002669 BARCLAYS BANK OF ZIMBABWE LTD.
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015 D012671 EGYPT
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015 D012673 PHILIPPINES
015 E042673 X
024 002600 Y
025 A002601 MORGAN STANLEY & CO. INC.
025 B002601 13-2655998
025 C002601 E
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<PAGE> PAGE 313
025 A002602 LEHMAN BROTHERS, INC.
025 B002602 13-2518466
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<PAGE> PAGE 314
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<PAGE> PAGE 315
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070 I022600 N
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<PAGE> PAGE 316
070 M012600 Y
070 M022600 Y
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<PAGE> PAGE 317
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SIGNATURE LAURA FERGERSON
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 01
<NAME> FVF-MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
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<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 22,550,711
<OTHER-INCOME> 0
<EXPENSES-NET> (1,829,564)
<NET-INVESTMENT-INCOME> 20,721,147
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 20,721,147
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20,721,147)
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 748,100,457
<NUMBER-OF-SHARES-REDEEMED> (810,302,411)
<SHARES-REINVESTED> 20,721,280
<NET-CHANGE-IN-ASSETS> (41,480,674)
<ACCUMULATED-NII-PRIOR> 0
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<AVERAGE-NET-ASSETS> 405,122,918
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> .050
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> (.050)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUEMARK FUNDS DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 02
<NAME> FVF-GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 947,564,869
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<SENIOR-EQUITY> 0
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<SHARES-COMMON-PRIOR> 61,406,730
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<OTHER-INCOME> 0
<EXPENSES-NET> (5,946,754)
<NET-INVESTMENT-INCOME> 42,540,625
<REALIZED-GAINS-CURRENT> 102,492,523
<APPREC-INCREASE-CURRENT> 149,143,638
<NET-CHANGE-FROM-OPS> 294,176,786
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (39,059,424)
<DISTRIBUTIONS-OF-GAINS> (37,881,070)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11,852,804
<NUMBER-OF-SHARES-REDEEMED> (13,651,515)
<SHARES-REINVESTED> 4,094,758
<NET-CHANGE-IN-ASSETS> 260,487,118
<ACCUMULATED-NII-PRIOR> 39,433,566
<ACCUMULATED-GAINS-PRIOR> 37,735,914
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,667,415
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,946,754
<AVERAGE-NET-ASSETS> 1,204,077,788
<PER-SHARE-NAV-BEGIN> 17.550
<PER-SHARE-NII> .670
<PER-SHARE-GAIN-APPREC> 4.050
<PER-SHARE-DIVIDEND> (.640)
<PER-SHARE-DISTRIBUTIONS> (.620)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.010
<EXPENSE-RATIO> .490
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 03
<NAME> FVF-NATURAL RESOURCES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 79,505,232
<INVESTMENTS-AT-VALUE> 70,974,881
<RECEIVABLES> 5,382,803
<ASSETS-OTHER> 110,563
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 76,468,247
<PAYABLE-FOR-SECURITIES> 955,655
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 588,282
<TOTAL-LIABILITIES> 1,543,937
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 88,949,420
<SHARES-COMMON-STOCK> 6,564,617
<SHARES-COMMON-PRIOR> 7,668,120
<ACCUMULATED-NII-CURRENT> 940,017
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (6,434,773)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (8,530,354)
<NET-ASSETS> 74,924,310
<DIVIDEND-INCOME> 1,267,004
<INTEREST-INCOME> 311,901
<OTHER-INCOME> 0
<EXPENSES-NET> (642,803)
<NET-INVESTMENT-INCOME> 936,102
<REALIZED-GAINS-CURRENT> (6,076,012)
<APPREC-INCREASE-CURRENT> (13,803,725)
<NET-CHANGE-FROM-OPS> (18,943,635)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,423,769)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,255,526
<NUMBER-OF-SHARES-REDEEMED> (4,466,321)
<SHARES-REINVESTED> 107,292
<NET-CHANGE-IN-ASSETS> (34,654,275)
<ACCUMULATED-NII-PRIOR> 1,214,989
<ACCUMULATED-GAINS-PRIOR> (146,066)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 584,675
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 642,803
<AVERAGE-NET-ASSETS> 93,768,732
<PER-SHARE-NAV-BEGIN> 14.290
<PER-SHARE-NII> .150
<PER-SHARE-GAIN-APPREC> (2.830)
<PER-SHARE-DIVIDEND> (.200)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.410
<EXPENSE-RATIO> .690
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 04
<NAME> FVF-REAL ESTATE SECURITIES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 295,217,467
<INVESTMENTS-AT-VALUE> 425,517,598
<RECEIVABLES> 30,554,354
<ASSETS-OTHER> 317,226
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 456,389,178
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,834,915
<TOTAL-LIABILITIES> 15,834,915
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 286,747,450
<SHARES-COMMON-STOCK> 17,207,897
<SHARES-COMMON-PRIOR> 14,568,012
<ACCUMULATED-NII-CURRENT> 14,187,335
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,319,347
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 130,300,131
<NET-ASSETS> 440,554,263
<DIVIDEND-INCOME> 14,794,688
<INTEREST-INCOME> 1,157,595
<OTHER-INCOME> 0
<EXPENSES-NET> (2,072,685)
<NET-INVESTMENT-INCOME> 13,879,598
<REALIZED-GAINS-CURRENT> 9,523,858
<APPREC-INCREASE-CURRENT> 50,445,063
<NET-CHANGE-FROM-OPS> 73,848,519
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,951,988)
<DISTRIBUTIONS-OF-GAINS> (5,229,900)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,979,601
<NUMBER-OF-SHARES-REDEEMED> (4,062,121)
<SHARES-REINVESTED> 722,405
<NET-CHANGE-IN-ASSETS> 117,833,068
<ACCUMULATED-NII-PRIOR> 11,259,725
<ACCUMULATED-GAINS-PRIOR> 5,025,389
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,988,023
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,072,685
<AVERAGE-NET-ASSETS> 386,246,695
<PER-SHARE-NAV-BEGIN> 22.150
<PER-SHARE-NII> .720
<PER-SHARE-GAIN-APPREC> 3.720
<PER-SHARE-DIVIDEND> (.670)
<PER-SHARE-DISTRIBUTIONS> (.320)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 25.600
<EXPENSE-RATIO> .540
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 05
<NAME> FVF-UTILITY EQUITY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 889,752,379
<INVESTMENTS-AT-VALUE> 1,093,177,797
<RECEIVABLES> 51,832,236
<ASSETS-OTHER> 51
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,145,010,084
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,105,983
<TOTAL-LIABILITIES> 15,105,983
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 822,187,236
<SHARES-COMMON-STOCK> 55,569,232
<SHARES-COMMON-PRIOR> 66,144,551
<ACCUMULATED-NII-CURRENT> 42,429,889
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 61,863,922
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 203,423,054
<NET-ASSETS> 1,129,904,101
<DIVIDEND-INCOME> 46,674,953
<INTEREST-INCOME> 1,229,006
<OTHER-INCOME> 0
<EXPENSES-NET> (5,449,059)
<NET-INVESTMENT-INCOME> 42,454,900
<REALIZED-GAINS-CURRENT> 61,850,100
<APPREC-INCREASE-CURRENT> 150,455,147
<NET-CHANGE-FROM-OPS> 254,760,147
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (54,348,880)
<DISTRIBUTIONS-OF-GAINS> (75,198,357)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,963,946
<NUMBER-OF-SHARES-REDEEMED> (20,093,040)
<SHARES-REINVESTED> 7,553,775
<NET-CHANGE-IN-ASSETS> (72,386,219)
<ACCUMULATED-NII-PRIOR> 54,348,880
<ACCUMULATED-GAINS-PRIOR> 75,198,357
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,139,011
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,449,059
<AVERAGE-NET-ASSETS> 1,086,453,704
<PER-SHARE-NAV-BEGIN> 18.180
<PER-SHARE-NII> .900
<PER-SHARE-GAIN-APPREC> 3.540
<PER-SHARE-DIVIDEND> (.960)
<PER-SHARE-DISTRIBUTIONS> (1.330)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.330
<EXPENSE-RATIO> .500
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 06
<NAME> FVF-FRANKLIN HIGH INCOME FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 442,926,134
<INVESTMENTS-AT-VALUE> 463,898,330
<RECEIVABLES> 33,106,630
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 497,004,960
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 969,128
<TOTAL-LIABILITIES> 969,128
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 428,456,970
<SHARES-COMMON-STOCK> 34,324,418
<SHARES-COMMON-PRIOR> 31,511,357
<ACCUMULATED-NII-CURRENT> 44,013,099
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,607,265
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,958,498
<NET-ASSETS> 496,035,832
<DIVIDEND-INCOME> 1,370,622
<INTEREST-INCOME> 45,071,762
<OTHER-INCOME> 0
<EXPENSES-NET> (2,418,045)
<NET-INVESTMENT-INCOME> 44,024,339
<REALIZED-GAINS-CURRENT> 2,599,594
<APPREC-INCREASE-CURRENT> 2,724,359
<NET-CHANGE-FROM-OPS> 49,348,292
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (37,006,747)
<DISTRIBUTIONS-OF-GAINS> (1,213,933)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,001,724
<NUMBER-OF-SHARES-REDEEMED> (14,990,766)
<SHARES-REINVESTED> 2,802,103
<NET-CHANGE-IN-ASSETS> 49,940,307
<ACCUMULATED-NII-PRIOR> 37,005,221
<ACCUMULATED-GAINS-PRIOR> 1,211,890
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,305,480
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,418,045
<AVERAGE-NET-ASSETS> 456,778,254
<PER-SHARE-NAV-BEGIN> 14.160
<PER-SHARE-NII> 1.330
<PER-SHARE-GAIN-APPREC> 0.220
<PER-SHARE-DIVIDEND> (1.220)
<PER-SHARE-DISTRIBUTIONS> (0.040)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.450
<EXPENSE-RATIO> 0.530
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 07
<NAME> FVF-TEMPLETON GLOBAL INCOME SECURITIES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 181,060,096
<INVESTMENTS-AT-VALUE> 177,706,342
<RECEIVABLES> 17,819,596
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1,212,768
<TOTAL-ASSETS> 196,738,706
<PAYABLE-FOR-SECURITIES> 11,237,513
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 485,019
<TOTAL-LIABILITIES> 11,722,532
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 179,596,843
<SHARES-COMMON-STOCK> 14,265,198
<SHARES-COMMON-PRIOR> 16,287,427
<ACCUMULATED-NII-CURRENT> 11,163,308
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,177,047)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,566,930)
<NET-ASSETS> 185,016,174
<DIVIDEND-INCOME> 5,695
<INTEREST-INCOME> 15,430,920
<OTHER-INCOME> 0
<EXPENSES-NET> (1,249,239)
<NET-INVESTMENT-INCOME> 14,187,376
<REALIZED-GAINS-CURRENT> (228,933)
<APPREC-INCREASE-CURRENT> (9,238,900)
<NET-CHANGE-FROM-OPS> 4,719,543
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,522,463)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,379,330
<NUMBER-OF-SHARES-REDEEMED> (4,546,864)
<SHARES-REINVESTED> 1,145,305
<NET-CHANGE-IN-ASSETS> (36,706,295)
<ACCUMULATED-NII-PRIOR> 12,596,126
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (4,045,845)
<GROSS-ADVISORY-FEES> 1,133,609
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,249,239
<AVERAGE-NET-ASSETS> 201,721,713
<PER-SHARE-NAV-BEGIN> 13.610
<PER-SHARE-NII> 1.050
<PER-SHARE-GAIN-APPREC> (.730)
<PER-SHARE-DIVIDEND> (.960)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.970
<EXPENSE-RATIO> .620
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 09
<NAME> FVF-INCOME SECURITIES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,173,620,186
<INVESTMENTS-AT-VALUE> 1,339,548,605
<RECEIVABLES> 69,034,485
<ASSETS-OTHER> 143,304
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,408,726,394
<PAYABLE-FOR-SECURITIES> 224,375
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,715,400
<TOTAL-LIABILITIES> 1,939,775
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,114,634,867
<SHARES-COMMON-STOCK> 76,595,043
<SHARES-COMMON-PRIOR> 78,493,846
<ACCUMULATED-NII-CURRENT> 102,009,670
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 24,225,942
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 165,916,140
<NET-ASSETS> 1,406,786,619
<DIVIDEND-INCOME> 32,771,601
<INTEREST-INCOME> 76,059,238
<OTHER-INCOME> 0
<EXPENSES-NET> (6,748,446)
<NET-INVESTMENT-INCOME> 102,082,393
<REALIZED-GAINS-CURRENT> 24,171,050
<APPREC-INCREASE-CURRENT> 88,386,427
<NET-CHANGE-FROM-OPS> 214,639,870
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (99,613,761)
<DISTRIBUTIONS-OF-GAINS> (21,398,124)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,990,147
<NUMBER-OF-SHARES-REDEEMED> (18,135,171)
<SHARES-REINVESTED> 7,246,221
<NET-CHANGE-IN-ASSETS> 56,127,199
<ACCUMULATED-NII-PRIOR> 99,623,131
<ACCUMULATED-GAINS-PRIOR> 21,370,923
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,348,820
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,748,446
<AVERAGE-NET-ASSETS> 1,355,344,287
<PER-SHARE-NAV-BEGIN> 17.210
<PER-SHARE-NII> 1.400
<PER-SHARE-GAIN-APPREC> 1.380
<PER-SHARE-DIVIDEND> (1.330)
<PER-SHARE-DISTRIBUTIONS> (0.290)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 18.370
<EXPENSE-RATIO> 0.500
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 10
<NAME> FVF-US GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 733,832,333
<INVESTMENTS-AT-VALUE> 759,515,351
<RECEIVABLES> 29,567,515
<ASSETS-OTHER> 125,080
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 789,207,946
<PAYABLE-FOR-SECURITIES> 23,384,542
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 738,963
<TOTAL-LIABILITIES> 24,123,505
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 704,275,036
<SHARES-COMMON-STOCK> 54,949,206
<SHARES-COMMON-PRIOR> 62,667,403
<ACCUMULATED-NII-CURRENT> 50,857,742
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (15,731,355)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 25,683,018
<NET-ASSETS> 765,084,441
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 54,815,051
<OTHER-INCOME> 0
<EXPENSES-NET> (3,955,773)
<NET-INVESTMENT-INCOME> 50,859,278
<REALIZED-GAINS-CURRENT> 84,959
<APPREC-INCREASE-CURRENT> 18,636,570
<NET-CHANGE-FROM-OPS> 69,580,807
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (42,870,826)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,114,131
<NUMBER-OF-SHARES-REDEEMED> (17,077,659)
<SHARES-REINVESTED> 3,245,331
<NET-CHANGE-IN-ASSETS> (78,773,076)
<ACCUMULATED-NII-PRIOR> 42,920,983
<ACCUMULATED-GAINS-PRIOR> (15,868,007)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,775,626
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,955,773
<AVERAGE-NET-ASSETS> 783,476,133
<PER-SHARE-NAV-BEGIN> 13.470
<PER-SHARE-NII> 1.00
<PER-SHARE-GAIN-APPREC> .21
<PER-SHARE-DIVIDEND> (.760)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.92
<EXPENSE-RATIO> .500
<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 DECEMBER 31, 1997 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> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 105,580,702
<INVESTMENTS-AT-VALUE> 111,686,050
<RECEIVABLES> 39,060
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 111,725,110
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 74,659
<TOTAL-LIABILITIES> 74,659
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 96,523,564
<SHARES-COMMON-STOCK> 7,375,291
<SHARES-COMMON-PRIOR> 8,530,236
<ACCUMULATED-NII-CURRENT> 7,759,277
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,248,202
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,119,408
<NET-ASSETS> 111,650,451
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8,233,122
<OTHER-INCOME> 0
<EXPENSES-NET> (474,076)
<NET-INVESTMENT-INCOME> 7,759,046
<REALIZED-GAINS-CURRENT> 1,248,982
<APPREC-INCREASE-CURRENT> (926,957)
<NET-CHANGE-FROM-OPS> 8,081,071
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,152,085)
<DISTRIBUTIONS-OF-GAINS> (184,468)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 510,404
<NUMBER-OF-SHARES-REDEEMED> (2,241,078)
<SHARES-REINVESTED> 575,729
<NET-CHANGE-IN-ASSETS> (17,950,491)
<ACCUMULATED-NII-PRIOR> 8,152,316
<ACCUMULATED-GAINS-PRIOR> 183,688
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 724,202
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 755,595
<AVERAGE-NET-ASSETS> 119,833,440
<PER-SHARE-NAV-BEGIN> 15.190
<PER-SHARE-NII> 1.150
<PER-SHARE-GAIN-APPREC> (.124)
<PER-SHARE-DIVIDEND> (1.060)
<PER-SHARE-DISTRIBUTIONS> (.020)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.140
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 13
<NAME> FVF-ZERO COUPON FUND - 2005
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 68,293,384
<INVESTMENTS-AT-VALUE> 77,389,873
<RECEIVABLES> 56,027
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 77,445,900
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 150,389
<TOTAL-LIABILITIES> 150,389
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 62,301,019
<SHARES-COMMON-STOCK> 4,533,896
<SHARES-COMMON-PRIOR> 5,052,522
<ACCUMULATED-NII-CURRENT> 4,789,906
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,108,097
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,096,489
<NET-ASSETS> 77,295,511
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,102,879
<OTHER-INCOME> 0
<EXPENSES-NET> (312,732)
<NET-INVESTMENT-INCOME> 4,790,147
<REALIZED-GAINS-CURRENT> 1,112,714
<APPREC-INCREASE-CURRENT> 2,363,992
<NET-CHANGE-FROM-OPS> 8,266,853
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,939,956)
<DISTRIBUTIONS-OF-GAINS> (17,170)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 597,716
<NUMBER-OF-SHARES-REDEEMED> (1,431,881)
<SHARES-REINVESTED> 315,539
<NET-CHANGE-IN-ASSETS> (5,307,958)
<ACCUMULATED-NII-PRIOR> 4,939,715
<ACCUMULATED-GAINS-PRIOR> 12,553
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 485,690
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 507,458
<AVERAGE-NET-ASSETS> 77,707,989
<PER-SHARE-NAV-BEGIN> 16.350
<PER-SHARE-NII> 1.140
<PER-SHARE-GAIN-APPREC> 0.630
<PER-SHARE-DIVIDEND> (1.060)
<PER-SHARE-DISTRIBUTIONS> (0.010)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.050
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 14
<NAME> FVF-ZERO COUPON FUND - 2010
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 69,604,960
<INVESTMENTS-AT-VALUE> 85,406,106
<RECEIVABLES> 489,436
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 85,895,542
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 380,816
<TOTAL-LIABILITIES> 380,816
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 64,247,668
<SHARES-COMMON-STOCK> 4,797,365
<SHARES-COMMON-PRIOR> 4,839,072
<ACCUMULATED-NII-CURRENT> 4,883,419
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 582,493
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 15,801,146
<NET-ASSETS> 85,514,726
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,199,207
<OTHER-INCOME> 0
<EXPENSES-NET> (315,647)
<NET-INVESTMENT-INCOME> 4,883,560
<REALIZED-GAINS-CURRENT> 1,001,612
<APPREC-INCREASE-CURRENT> 6,324,375
<NET-CHANGE-FROM-OPS> 12,209,547
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,878,501)
<DISTRIBUTIONS-OF-GAINS> (39,001)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,745,371
<NUMBER-OF-SHARES-REDEEMED> (2,100,095)
<SHARES-REINVESTED> 313,017
<NET-CHANGE-IN-ASSETS> 6,698,980
<ACCUMULATED-NII-PRIOR> 4,878,360
<ACCUMULATED-GAINS-PRIOR> (380,118)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 491,457
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 513,484
<AVERAGE-NET-ASSETS> 78,638,240
<PER-SHARE-NAV-BEGIN> 16.290
<PER-SHARE-NII> 1.020
<PER-SHARE-GAIN-APPREC> 1.540
<PER-SHARE-DIVIDEND> (1.010)
<PER-SHARE-DISTRIBUTIONS> (0.010)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.830
<EXPENSE-RATIO> 0.040
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 16
<NAME> FVF-RISING DIVIDENDS FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 534,160,098
<INVESTMENTS-AT-VALUE> 764,654,772
<RECEIVABLES> 15,964,513
<ASSETS-OTHER> 160,991
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 780,780,276
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 482,492
<TOTAL-LIABILITIES> 482,492
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 436,122,568
<SHARES-COMMON-STOCK> 39,640,221
<SHARES-COMMON-PRIOR> 38,791,704
<ACCUMULATED-NII-CURRENT> 8,595,033
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 105,085,509
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 230,494,674
<NET-ASSETS> 780,297,784
<DIVIDEND-INCOME> 12,716,936
<INTEREST-INCOME> 972,132
<OTHER-INCOME> 0
<EXPENSES-NET> (5,091,541)
<NET-INVESTMENT-INCOME> 8,597,527
<REALIZED-GAINS-CURRENT> 105,385,082
<APPREC-INCREASE-CURRENT> 80,215,085
<NET-CHANGE-FROM-OPS> 194,197,694
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (9,956,520)
<DISTRIBUTIONS-OF-GAINS> (17,001,263)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,172,221
<NUMBER-OF-SHARES-REDEEMED> (9,887,381)
<SHARES-REINVESTED> 1,563,677
<NET-CHANGE-IN-ASSETS> 182,874,083
<ACCUMULATED-NII-PRIOR> 9,954,026
<ACCUMULATED-GAINS-PRIOR> 16,701,690
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,942,390
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,091,541
<AVERAGE-NET-ASSETS> 690,928,877
<PER-SHARE-NAV-BEGIN> 15.400
<PER-SHARE-NII> .220
<PER-SHARE-GAIN-APPREC> 4.770
<PER-SHARE-DIVIDEND> (.260)
<PER-SHARE-DISTRIBUTIONS> (.450)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.680
<EXPENSE-RATIO> .740
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 17
<NAME> FVF-TEMPLETON PACIFIC GROWTH FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 235,321,791
<INVESTMENTS-AT-VALUE> 163,506,809
<RECEIVABLES> 2,569,881
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 279,895
<TOTAL-ASSETS> 166,356,585
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 952,770
<TOTAL-LIABILITIES> 952,770
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 234,379,810
<SHARES-COMMON-STOCK> 17,827,473
<SHARES-COMMON-PRIOR> 24,170,761
<ACCUMULATED-NII-CURRENT> 1,603,896
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,235,091
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (71,814,982)
<NET-ASSETS> 165,403,815
<DIVIDEND-INCOME> 8,160,792
<INTEREST-INCOME> 319,823
<OTHER-INCOME> 0
<EXPENSES-NET> (2,905,568)
<NET-INVESTMENT-INCOME> 5,575,047
<REALIZED-GAINS-CURRENT> 5,990,468
<APPREC-INCREASE-CURRENT> (112,006,306)
<NET-CHANGE-FROM-OPS> (100,440,791)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,815,823)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,602,123
<NUMBER-OF-SHARES-REDEEMED> (13,342,125)
<SHARES-REINVESTED> 396,714
<NET-CHANGE-IN-ASSETS> (191,355,343)
<ACCUMULATED-NII-PRIOR> 2,026,130
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (4,936,835)
<GROSS-ADVISORY-FEES> 2,608,312
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,905,568
<AVERAGE-NET-ASSETS> 282,288,964
<PER-SHARE-NAV-BEGIN> 14.760
<PER-SHARE-NII> 0.290
<PER-SHARE-GAIN-APPREC> (5.490)
<PER-SHARE-DIVIDEND> (0.280)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.280
<EXPENSE-RATIO> 1.030
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS DECEMBER 31, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 18
<NAME> FVF-TEMPLETON INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 776,434,560
<INVESTMENTS-AT-VALUE> 935,116,073
<RECEIVABLES> 228,673,184
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 840,840
<TOTAL-ASSETS> 1,164,630,097
<PAYABLE-FOR-SECURITIES> 51,687
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,148,861
<TOTAL-LIABILITIES> 3,200,548
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 900,130,146
<SHARES-COMMON-STOCK> 72,046,407
<SHARES-COMMON-PRIOR> 71,718,408
<ACCUMULATED-NII-CURRENT> 33,171,270
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 69,446,620
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 158,681,513
<NET-ASSETS> 1,161,429,549
<DIVIDEND-INCOME> 38,098,457
<INTEREST-INCOME> 9,105,784
<OTHER-INCOME> 0
<EXPENSES-NET> (10,768,446)
<NET-INVESTMENT-INCOME> 36,435,795
<REALIZED-GAINS-CURRENT> 71,056,314
<APPREC-INCREASE-CURRENT> 24,358,754
<NET-CHANGE-FROM-OPS> 131,850,863
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (32,476,317)
<DISTRIBUTIONS-OF-GAINS> (49,797,020)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,290,362
<NUMBER-OF-SHARES-REDEEMED> (23,047,242)
<SHARES-REINVESTED> 5,084,879
<NET-CHANGE-IN-ASSETS> 53,330,175
<ACCUMULATED-NII-PRIOR> 27,747,634
<ACCUMULATED-GAINS-PRIOR> 49,651,484
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9,676,740
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,768,446
<AVERAGE-NET-ASSETS> 1,210,232,011
<PER-SHARE-NAV-BEGIN> 15.450
<PER-SHARE-NII> .300
<PER-SHARE-GAIN-APPREC> 1.510
<PER-SHARE-DIVIDEND> (.450)
<PER-SHARE-DISTRIBUTIONS> (.690)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.120
<EXPENSE-RATIO> .890
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS DECEMBER 31, 1997 ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 19
<NAME> FVF-TEMPLETON DEVELOPING MARKETS EQUITY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 310,661,215
<INVESTMENTS-AT-VALUE> 277,455,266
<RECEIVABLES> 2,780,833
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 489,876
<TOTAL-ASSETS> 280,725,975
<PAYABLE-FOR-SECURITIES> 46,325
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 999,599
<TOTAL-LIABILITIES> 1,045,924
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 293,236,243
<SHARES-COMMON-STOCK> 27,183,878
<SHARES-COMMON-PRIOR> 23,468,431
<ACCUMULATED-NII-CURRENT> 4,921,147
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,728,610
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (33,205,949)
<NET-ASSETS> 279,680,051
<DIVIDEND-INCOME> 8,351,300
<INTEREST-INCOME> 1,692,421
<OTHER-INCOME> 0
<EXPENSES-NET> (4,844,376)
<NET-INVESTMENT-INCOME> 5,379,345
<REALIZED-GAINS-CURRENT> 14,814,772
<APPREC-INCREASE-CURRENT> (53,104,360)
<NET-CHANGE-FROM-OPS> (32,910,243)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,987,427)
<DISTRIBUTIONS-OF-GAINS> (6,324,884)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,816,139
<NUMBER-OF-SHARES-REDEEMED> (7,874,889)
<SHARES-REINVESTED> 774,197
<NET-CHANGE-IN-ASSETS> 7,581,630
<ACCUMULATED-NII-PRIOR> 3,577,713
<ACCUMULATED-GAINS-PRIOR> 6,190,238
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,277,977
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,844,376
<AVERAGE-NET-ASSETS> 342,244,153
<PER-SHARE-NAV-BEGIN> 11.590
<PER-SHARE-NII> .180
<PER-SHARE-GAIN-APPREC> (1.100)
<PER-SHARE-DIVIDEND> (.150)
<PER-SHARE-DISTRIBUTIONS> (.230)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.290
<EXPENSE-RATIO> 1.420
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 20
<NAME> FVF-TEMPLETON GLOBAL GROWTH FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 582,338,486
<INVESTMENTS-AT-VALUE> 661,327,179
<RECEIVABLES> 98,059,544
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 39,225
<TOTAL-ASSETS> 759,425,948
<PAYABLE-FOR-SECURITIES> 252,059
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 729,314
<TOTAL-LIABILITIES> 981,373
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 588,882,072
<SHARES-COMMON-STOCK> 49,430,801
<SHARES-COMMON-PRIOR> 42,027,864
<ACCUMULATED-NII-CURRENT> 17,068,595
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 73,505,215
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 78,988,693
<NET-ASSETS> 758,444,575
<DIVIDEND-INCOME> 17,924,444
<INTEREST-INCOME> 5,833,856
<OTHER-INCOME> 0
<EXPENSES-NET> (6,182,957)
<NET-INVESTMENT-INCOME> 17,575,343
<REALIZED-GAINS-CURRENT> 73,768,401
<APPREC-INCREASE-CURRENT> (9,386,358)
<NET-CHANGE-FROM-OPS> 81,957,386
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,070,041)
<DISTRIBUTIONS-OF-GAINS> (3,690,014)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,313,319
<NUMBER-OF-SHARES-REDEEMED> (6,882,077)
<SHARES-REINVESTED> 971,695
<NET-CHANGE-IN-ASSETS> 178,567,188
<ACCUMULATED-NII-PRIOR> 10,394,157
<ACCUMULATED-GAINS-PRIOR> 3,595,964
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,894,743
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,182,957
<AVERAGE-NET-ASSETS> 705,965,760
<PER-SHARE-NAV-BEGIN> 13.800
<PER-SHARE-NII> 0.330
<PER-SHARE-GAIN-APPREC> 1.530
<PER-SHARE-DIVIDEND> (.240)
<PER-SHARE-DISTRIBUTIONS> (.080)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.340
<EXPENSE-RATIO> .880
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 21
<NAME> FVF-TEMPLETON GLOBAL ASSET ALLOCATION FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 76,209,299
<INVESTMENTS-AT-VALUE> 82,269,408
<RECEIVABLES> 12,730,997
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 108,505
<TOTAL-ASSETS> 95,108,910
<PAYABLE-FOR-SECURITIES> 1,511,439
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 195,649
<TOTAL-LIABILITIES> 1,707,088
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 80,420,384
<SHARES-COMMON-STOCK> 6,808,249
<SHARES-COMMON-PRIOR> 4,469,291
<ACCUMULATED-NII-CURRENT> 2,954,949
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,861,293
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,165,196
<NET-ASSETS> 93,401,822
<DIVIDEND-INCOME> 1,448,280
<INTEREST-INCOME> 2,725,350
<OTHER-INCOME> 0
<EXPENSES-NET> (757,053)
<NET-INVESTMENT-INCOME> 3,416,557
<REALIZED-GAINS-CURRENT> 3,506,166
<APPREC-INCREASE-CURRENT> 1,145,033
<NET-CHANGE-FROM-OPS> 8,067,776
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,548,504)
<DISTRIBUTIONS-OF-GAINS> (446,684)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,863,159
<NUMBER-OF-SHARES-REDEEMED> (673,877)
<SHARES-REINVESTED> 149,676
<NET-CHANGE-IN-ASSETS> 37,127,696
<ACCUMULATED-NII-PRIOR> 1,460,392
<ACCUMULATED-GAINS-PRIOR> 428,295
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 526,125
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 757,053
<AVERAGE-NET-ASSETS> 80,942,357
<PER-SHARE-NAV-BEGIN> 12.590
<PER-SHARE-NII> .420
<PER-SHARE-GAIN-APPREC> 1.040
<PER-SHARE-DIVIDEND> (.260)
<PER-SHARE-DISTRIBUTIONS> (.070)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.720
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 22
<NAME> FVF-SMALL CAP FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 290,820,372
<INVESTMENTS-AT-VALUE> 315,461,984
<RECEIVABLES> 3,954,292
<ASSETS-OTHER> 248,511
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 319,664,787
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,203,248
<TOTAL-LIABILITIES> 6,203,248
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 262,941,569
<SHARES-COMMON-STOCK> 20,826,160
<SHARES-COMMON-PRIOR> 12,956,069
<ACCUMULATED-NII-CURRENT> 160,082
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 25,718,276
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,641,612
<NET-ASSETS> 313,461,539
<DIVIDEND-INCOME> 1,088,027
<INTEREST-INCOME> 1,001,390
<OTHER-INCOME> 0
<EXPENSES-NET> (1,934,451)
<NET-INVESTMENT-INCOME> 154,966
<REALIZED-GAINS-CURRENT> 25,783,381
<APPREC-INCREASE-CURRENT> 14,228,539
<NET-CHANGE-FROM-OPS> 40,166,886
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (573,457)
<DISTRIBUTIONS-OF-GAINS> (6,796,191)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,767,713
<NUMBER-OF-SHARES-REDEEMED> (8,440,306)
<SHARES-REINVESTED> 542,684
<NET-CHANGE-IN-ASSETS> 142,492,569
<ACCUMULATED-NII-PRIOR> 578,335
<ACCUMULATED-GAINS-PRIOR> 6,732,932
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,878,273
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,934,451
<AVERAGE-NET-ASSETS> 250,823,447
<PER-SHARE-NAV-BEGIN> 13.200
<PER-SHARE-NII> .010
<PER-SHARE-GAIN-APPREC> 2.240
<PER-SHARE-DIVIDEND> (.030)
<PER-SHARE-DISTRIBUTIONS> (.370)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.050
<EXPENSE-RATIO> .770
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 23
<NAME> FVF-CAPITAL GROWTH FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 76,532,823
<INVESTMENTS-AT-VALUE> 89,751,079
<RECEIVABLES> 19,210,538
<ASSETS-OTHER> 678,676
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 109,640,293
<PAYABLE-FOR-SECURITIES> 214,363
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70,943
<TOTAL-LIABILITIES> 285,306
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 95,796,629
<SHARES-COMMON-STOCK> 8,150,036
<SHARES-COMMON-PRIOR> 3,930,828
<ACCUMULATED-NII-CURRENT> 534,645
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (194,543)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 13,218,256
<NET-ASSETS> 109,354,987
<DIVIDEND-INCOME> 491,488
<INTEREST-INCOME> 617,203
<OTHER-INCOME> 0
<EXPENSES-NET> (570,542)
<NET-INVESTMENT-INCOME> 538,149
<REALIZED-GAINS-CURRENT> (58,087)
<APPREC-INCREASE-CURRENT> 11,235,806
<NET-CHANGE-FROM-OPS> 11,715,868
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (109,761)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,609,203
<NUMBER-OF-SHARES-REDEEMED> (3,398,734)
<SHARES-REINVESTED> 8,739
<NET-CHANGE-IN-ASSETS> 64,688,276
<ACCUMULATED-NII-PRIOR> 109,751
<ACCUMULATED-GAINS-PRIOR> (139,950)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 558,503
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 570,542
<AVERAGE-NET-ASSETS> 74,489,688
<PER-SHARE-NAV-BEGIN> 11.360
<PER-SHARE-NII> .060
<PER-SHARE-GAIN-APPREC> 2.020
<PER-SHARE-DIVIDEND> (.020)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.420
<EXPENSE-RATIO> .770
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 24
<NAME> FVF-TEMPLETON INTERNATIONAL SMALLER COMPANIES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 31,059,801
<INVESTMENTS-AT-VALUE> 29,782,072
<RECEIVABLES> 2,961,677
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 6,763
<TOTAL-ASSETS> 32,750,512
<PAYABLE-FOR-SECURITIES> 484,112
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 65,695
<TOTAL-LIABILITIES> 549,807
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32,180,790
<SHARES-COMMON-STOCK> 2,922,545
<SHARES-COMMON-PRIOR> 1,445,259
<ACCUMULATED-NII-CURRENT> 716,993
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 603,229
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,300,307)
<NET-ASSETS> 32,200,705
<DIVIDEND-INCOME> 675,415
<INTEREST-INCOME> 394,612
<OTHER-INCOME> 0
<EXPENSES-NET> (299,763)
<NET-INVESTMENT-INCOME> 770,664
<REALIZED-GAINS-CURRENT> 573,090
<APPREC-INCREASE-CURRENT> (2,404,379)
<NET-CHANGE-FROM-OPS> (1,061,025)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (155,776)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,609,483
<NUMBER-OF-SHARES-REDEEMED> (1,145,466)
<SHARES-REINVESTED> 13,269
<NET-CHANGE-IN-ASSETS> 15,945,667
<ACCUMULATED-NII-PRIOR> 132,644
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 239,272
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 299,763
<AVERAGE-NET-ASSETS> 28,148,926
<PER-SHARE-NAV-BEGIN> 11.250
<PER-SHARE-NII> .230
<PER-SHARE-GAIN-APPREC> (.390)
<PER-SHARE-DIVIDEND> (.070)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.020
<EXPENSE-RATIO> 1.060
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 25
<NAME> FVF-MUTUAL DISCOVERY SECURITIES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 184,554,180
<INVESTMENTS-AT-VALUE> 195,034,457
<RECEIVABLES> 1,278,694
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 3,577,552
<TOTAL-ASSETS> 199,890,703
<PAYABLE-FOR-SECURITIES> 799,249
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 438,692
<TOTAL-LIABILITIES> 1,237,941
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 181,549,509
<SHARES-COMMON-STOCK> 16,326,424
<SHARES-COMMON-PRIOR> 1,510,497
<ACCUMULATED-NII-CURRENT> 2,888,764
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,608,666
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 11,605,823
<NET-ASSETS> 198,652,762
<DIVIDEND-INCOME> 1,827,250
<INTEREST-INCOME> 1,691,859
<OTHER-INCOME> 0
<EXPENSES-NET> (1,238,303)
<NET-INVESTMENT-INCOME> 2,280,806
<REALIZED-GAINS-CURRENT> 3,239,880
<APPREC-INCREASE-CURRENT> 11,417,973
<NET-CHANGE-FROM-OPS> 16,938,659
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (49,403)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 17,092,095
<NUMBER-OF-SHARES-REDEEMED> (2,280,587)
<SHARES-REINVESTED> 4,419
<NET-CHANGE-IN-ASSETS> 183,235,032
<ACCUMULATED-NII-PRIOR> 26,147
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 930,954
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,238,303
<AVERAGE-NET-ASSETS> 116,400,836
<PER-SHARE-NAV-BEGIN> 10.210
<PER-SHARE-NII> .130
<PER-SHARE-GAIN-APPREC> 1.840
<PER-SHARE-DIVIDEND> (.010)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.170
<EXPENSE-RATIO> 0.640
<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 DECEMBER 31, 1997 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 26
<NAME> FVF-MUTUAL SHARES SECURITIES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 364,589,386
<INVESTMENTS-AT-VALUE> 389,434,962
<RECEIVABLES> 5,160,248
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2,829,168
<TOTAL-ASSETS> 397,424,378
<PAYABLE-FOR-SECURITIES> 8,282,485
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,354,561
<TOTAL-LIABILITIES> 9,637,046
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 353,540,426
<SHARES-COMMON-STOCK> 31,841,450
<SHARES-COMMON-PRIOR> 2,673,901
<ACCUMULATED-NII-CURRENT> 4,591,164
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,047,825
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 25,607,917
<NET-ASSETS> 387,787,332
<DIVIDEND-INCOME> 2,311,245
<INTEREST-INCOME> 3,804,433
<OTHER-INCOME> 0
<EXPENSES-NET> (1,681,832)
<NET-INVESTMENT-INCOME> 4,433,846
<REALIZED-GAINS-CURRENT> 4,245,422
<APPREC-INCREASE-CURRENT> 25,039,574
<NET-CHANGE-FROM-OPS> 33,718,842
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (87,831)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 31,512,828
<NUMBER-OF-SHARES-REDEEMED> (2,353,072)
<SHARES-REINVESTED> 7,793
<NET-CHANGE-IN-ASSETS> 360,110,410
<ACCUMULATED-NII-PRIOR> 50,601
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (3,049)
<GROSS-ADVISORY-FEES> 1,265,341
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,681,832
<AVERAGE-NET-ASSETS> 210,970,791
<PER-SHARE-NAV-BEGIN> 10.350
<PER-SHARE-NII> .130
<PER-SHARE-GAIN-APPREC> 1.710
<PER-SHARE-DIVIDEND> (.010)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.180
<EXPENSE-RATIO> .800
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Shareholders and Board of Trustees of
Franklin Valuemark Funds:
In planning and performing our audit of the financial statements of Franklin
Valuemark Funds for the year ended December 31, 1997, we considered its
internal control, including controls over safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion
on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on internal control.
The management of the Franklin Valuemark Funds is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. Generally, controls
that are relevant to an audit pertain to the entity's objective of preparing
financial statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those controls
include the safeguarding of assets against unauthorized acquisition, use, or
disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and may not be detected. Also, projection of any evaluation of
internal control to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of any
specific internal control component does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would be material in
relation to the financial statements being audited may occur and not be
detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control, including controls over safeguarding securities, that we
consider to be material weaknesses as defined above as of December 31, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
S\Coopers & Lybrand L.L.P.
San Francisco, California
February 23, 1998
