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007 C020400 REAL ESTATE SECURITIES FUND
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007 C010700 7
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007 C010800 8
007 C010900 9
007 C020900 INCOME SECURITIES FUND
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<PAGE> PAGE 2
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007 C011600 16
007 C021600 RISING DIVIDENDS FUND
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007 C011700 17
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<PAGE> PAGE 3
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010 C01AA01 SAN MATEO
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012 A00AA01 FRANKLIN TEMPLETON INVESTOR SERVICES, INC.
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<PAGE> PAGE 4
022 A000001 BT ALEX BROWN
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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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015 C010230 STOCKHOLM
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015 A000231 UNION BANK OF SWITZERLAND, ZURICH
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015 C010231 ZURICH
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015 E040231 X
015 A000232 SIAM COMMERCIAL BANK
015 B000232 S
015 C010232 BANGKOK
015 D010232 THAILAND
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015 A000233 OSMANLI BANKASI A.S. (OTTOMAN BANK)
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015 C010233 ISTANBUL
015 D010233 TURKEY
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015 A000234 BANK OF NEW YORK, LONDON
015 B000234 S
015 C010234 LONDON
015 D010234 UNITED KINGDOM
015 E040234 X
015 A000235 STANBIC BANK ZAMBIA LTD.
015 B000235 S
015 C010235 LUSAKA
015 D010235 ZAMBIA
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015 A000236 STANBIC BANK ZIMBABWE LTD.
<PAGE> PAGE 18
015 B000236 S
015 C010236 HARARE
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015 B000237 C
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<PAGE> PAGE 19
045 000200 Y
046 000200 N
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048 H020200 0.000
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048 I020200 0.000
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048 J020200 0.000
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050 000200 N
051 000200 N
052 000200 N
053 A000200 N
055 A000200 N
055 B000200 N
056 000200 N
057 000200 N
058 A000200 Y
058 B000200 Y
058 C000200 Y
058 D000200 Y
058 E000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
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<PAGE> PAGE 20
062 H000200 0.0
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062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 N
<PAGE> PAGE 21
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 198985
071 B000200 197609
071 C000200 1297218
071 D000200 15
072 A000200 6
072 B000200 2362
072 C000200 23562
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072 K000200 65
072 L000200 40
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072 S000200 6
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<PAGE> PAGE 22
074 D000200 0
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074 O000200 4422
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008 A000301 FRANKLIN ADVISERS, INC.
008 B000301 A
008 C000301 801-26292
008 D010301 SAN MATEO
008 D020301 CA
008 D030301 94404
008 D040301 1585
015 A000301 BANKBOSTON, BUENOS AIRES
015 B000301 S
015 C010301 BUENOS AIRES
015 D010301 ARGENTINA
015 E040301 X
015 A000302 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B000302 S
015 C010302 MELBOURNE
015 D010302 AUSTRALIA
015 E040302 X
015 A000303 CREDITANSTALT AG, VIENNA
015 B000303 S
015 C010303 VIENNA
015 D010303 AUSTRIA
<PAGE> PAGE 23
015 E040303 X
015 A000304 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B000304 S
015 C010304 BRUSSELS
015 D010304 BELGIUM
015 E040304 X
015 A000305 ROYAL BANK OF CANADA, TORONTO
015 B000305 S
015 C010305 TORONTO
015 D010305 CANADA
015 E040305 X
015 A000306 STANDARD CHARTERED BANK (SHANGHAI)
015 B000306 S
015 C010306 HONG KONG
015 D010306 CHINA
015 E040306 X
015 A000307 STANDARD CHARTERED BANK (SHENZHEN)
015 B000307 S
015 C010307 HONG KONG
015 D010307 CHINA
015 E040307 X
015 A000308 DEN DANSKE BANK, COPENHAGEN
015 B000308 S
015 C010308 COPENHAGEN
015 D010308 DENMARK
015 E040308 X
015 A000309 EUROMARKET - FIRST CHICAGO, LONDON
015 B000309 S
015 C010309 LONDON
015 D010309 UNITED KINGDOM
015 E040309 X
015 A000310 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B000310 S
015 C010310 LUXEMBOURG CITY
015 D010310 LUXEMBOURG
015 E040310 X
015 A000311 EUROBONDS - EUROCLEAR, BRUSSELS
015 B000311 S
015 C010311 BRUSSELS
015 D010311 BELGIUM
015 E040311 X
015 A000312 MERITA BANK LTD., HELSINKI
015 B000312 S
015 C010312 HELSINKI
015 D010312 FINLAND
015 E040312 X
015 A000313 BANQUE PARIBAS, PARIS
015 B000313 S
015 C010313 PARIS
015 D010313 FRANCE
015 E040313 X
<PAGE> PAGE 24
015 A000314 DRESDNER BANK AG, FRANKFURT
015 B000314 S
015 C010314 FRANKFURT/MAIN
015 D010314 GERMANY
015 E040314 X
015 A000315 HONGKONG & SHANHAI BANKING CORP., HONGKO
015 B000315 S
015 C010315 HONG KONG
015 D010315 HONG KONG
015 E040315 X
015 A000316 HONGKONG & SHANGHAI BANKING CORP., LTD. JAK
015 B000316 S
015 C010316 JAKARTA
015 D010316 INDONESIA
015 E040316 X
015 A000317 ALLIED IRISH BANKS, PLC
015 B000317 S
015 C010317 DUBLIN
015 D010317 IRELAND
015 E040317 X
015 A000318 BANK OF TOKYO - MITSUBISHI LIMITED
015 B000318 S
015 C010318 TOKYO
015 D010318 JAPAN
015 E040318 X
015 A000319 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000319 S
015 C010319 LUXEMBOURG CITY
015 D010319 LUXEMBOURG
015 E040319 X
015 A000320 HONGKONG BANK MAYSIA BERHAD
015 B000320 S
015 C010320 KUALA LUMPUR
015 D010320 MALAYSIA
015 E040320 X
015 A000321 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B000321 S
015 C010321 MEXICO CITY
015 D010321 MEXICO
015 E040321 X
015 A000322 MEES PEIRSON N.V. (NETHERLANDS)
015 B000322 S
015 C010322 AMSTERDAM
015 D010322 NETHERLANDS
015 E040322 X
015 A000323 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B000323 S
015 C010323 WELLINGTON
015 D010323 NEW ZEALAND
015 E040323 X
015 A000324 STANDARD CHARTERED BANK, KARACHI
<PAGE> PAGE 25
015 B000324 S
015 C010324 KARACHI
015 D010324 PAKISTAN
015 E040324 X
015 A000325 CITIBANK, N.A., LIMA
015 B000325 S
015 C010325 LIMA
015 D010325 PERU
015 E040325 X
015 A000326 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B000326 S
015 C010326 PASIG CITY MANILA
015 D010326 PHILIPPINES
015 E040326 X
015 A000327 BANCO COMERCIAL PORTUGUES
015 B000327 S
015 C010327 LISBON
015 D010327 PORTUGAL
015 E040327 X
015 A000328 UNITED OVERSEAS BANK LTD.
015 B000328 S
015 C010328 SINGAPORE
015 D010328 SINGAPORE
015 E040328 X
015 A000329 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B000329 S
015 C010329 JOHANNESBURG
015 D010329 SOUTH AFRICA
015 E040329 X
015 A000330 BANCO BILBAO VIZCAYA, MADRID
015 B000330 S
015 C010330 MADRID
015 D010330 SPAIN
015 E040330 X
015 A000331 STANDARD CHARTERED BANK, COLOMBO
015 B000331 S
015 C010331 COLOMBO
015 D010331 SRI LANKA
015 E040331 X
015 A000332 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B000332 S
015 C010332 STOCKHOLM
015 D010332 SWEDEN
015 E040332 X
015 A000333 UNION BANK OF SWITZERLAND, ZURICH
015 B000333 S
015 C010333 ZURICH
015 D010333 SWITZERLAND
015 E040333 X
015 A000334 SIAM COMMERCIAL BANK
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<PAGE> PAGE 26
015 C010334 BANGKOK
015 D010334 THAILAND
015 E040334 X
015 A000335 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B000335 S
015 C010335 ISTANBUL
015 D010335 TURKEY
015 E040335 X
015 A000336 BANK OF NEW YORK, LONDON
015 B000336 S
015 C010336 LONDON
015 D010336 UNITED KINGDOM
015 E040336 X
015 A000337 STANBIC BANK ZAMBIA LTD.
015 B000337 S
015 C010337 LUSAKA
015 D010337 ZAMBIA
015 E040337 X
015 A000338 STANBIC BANK ZIMBABWE LTD.
015 B000338 S
015 C010338 HARARE
015 D010338 ZIMBABWE
015 E040338 X
015 A000339 BANK OF NEW YORK, NEW YORK
015 B000339 C
015 C010339 NEW YORK
015 C020339 NY
015 C030339 10286
015 E010339 X
024 000300 N
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<PAGE> PAGE 27
028 F020300 947
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050 000300 N
051 000300 N
052 000300 N
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056 000300 N
057 000300 N
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<PAGE> PAGE 28
061 000300 2000
062 A000300 N
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066 G000300 N
067 000300 N
068 A000300 N
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069 000300 N
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070 E020300 N
070 F010300 N
070 F020300 N
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070 G020300 N
070 H010300 N
070 H020300 N
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<PAGE> PAGE 29
070 K020300 N
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070 O020300 N
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070 Q020300 N
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070 R020300 N
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<PAGE> PAGE 30
072EE000300 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 BANKBOSTON, BUENOS AIRES
015 B000401 S
015 C010401 BUENOS AIRES
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015 A000402 NATIONAL AUSTRALIA BANK, MELBOURNE
<PAGE> PAGE 31
015 B000402 S
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015 D010403 AUSTRIA
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015 A000404 BANQUE BRUXELLES LAMBERT, BELGIUM
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015 A000405 ROYAL BANK OF CANADA, TORONTO
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015 A000406 DEN DANSKE BANK, COPENHAGEN
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015 A000407 EUROMARKET - FIRST CHICAGO, LONDON
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<PAGE> PAGE 32
015 C010412 FRANKFURT/MAIN
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015 B000415 S
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<PAGE> PAGE 33
015 D010422 PAKISTAN
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015 A000423 HONGKONG & SHANHAI BANKING CORP., MANILA
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015 A000424 BANCO COMERCIAL PORTUGUES
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015 A000426 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
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015 A000427 BANCO BILBAO VIZCAYA, MADRID
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015 A000431 SIAM COMMERICAL BANK
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015 A000432 OSMANLI BANKASI A.S. (OTTOMAN BANK)
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<PAGE> PAGE 34
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015 C030434 10286
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015 A000435 STANBIC BANK OF ZAMBIA LTD.
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015 C010435 LUSAKA
015 D010435 ZAMBIA
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015 A000436 STANBIC BANK ZIMBABWE LTD.
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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070 G020400 N
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070 I020400 N
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<PAGE> PAGE 37
070 N010400 Y
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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008 B000601 A
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
015 A000635 BANK OF NEW YORK, LONDON
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015 D010638 ZIMBABWE
015 E040638 X
024 000600 N
028 A010600 22710
028 A020600 0
028 A030600 0
028 A040600 11118
028 B010600 11469
028 B020600 0
028 B030600 0
028 B040600 12167
028 C010600 11168
028 C020600 0
028 C030600 0
028 C040600 16338
028 D010600 11356
028 D020600 0
028 D030600 0
028 D040600 16225
028 E010600 14586
028 E020600 0
028 E030600 0
028 E040600 12658
028 F010600 15879
028 F020600 46732
028 F030600 0
028 F040600 19701
028 G010600 87168
028 G020600 46732
028 G030600 0
028 G040600 88207
028 H000600 0
<PAGE> PAGE 52
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
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
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
062 D000600 1.8
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
<PAGE> PAGE 53
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 95.2
062 Q000600 0.0
062 R000600 1.5
063 A000600 0
063 B000600 4.5
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 Y
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 N
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 Y
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
<PAGE> PAGE 54
070 P020600 Y
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 133185
071 B000600 100559
071 C000600 492636
071 D000600 20
072 A000600 6
072 B000600 24646
072 C000600 187
072 D000600 0
072 E000600 621
072 F000600 1271
072 G000600 0
072 H000600 0
072 I000600 0
072 J000600 6
072 K000600 22
072 L000600 17
072 M000600 2
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 6
072 S000600 3
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 4
072 X000600 1331
072 Y000600 0
072 Z000600 24123
072AA000600 5995
072BB000600 1311
072CC010600 0
072CC020600 9169
072DD010600 44114
072DD020600 0
072EE000600 2618
073 A010600 1.2700
073 A020600 0.0000
073 B000600 0.0800
073 C000600 0.0000
074 A000600 3
074 B000600 9193
074 C000600 0
074 D000600 490157
074 E000600 7428
<PAGE> PAGE 55
074 F000600 143
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 10693
074 M000600 0
074 N000600 517617
074 O000600 2750
074 P000600 209
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 24
074 S000600 0
074 T000600 514634
074 U010600 37660
074 U020600 0
074 V010600 13.67
074 V020600 0.00
074 W000600 0.0000
074 X000600 3
074 Y000600 21331
075 A000600 0
075 B000600 513901
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 BANKBOSTON, BUENOS AIRES
015 B000701 S
015 C010701 BUENOS AIRES
015 D010701 ARGENTINA
015 E040701 X
015 A000702 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B000702 S
015 C010702 MELBOURNE
015 D010702 AUSTRALIA
<PAGE> PAGE 56
015 E040702 X
015 A000703 CREDITANSTALT AG, VIENNA
015 B000703 S
015 C010703 VIENNA
015 D010703 AUSTRIA
015 E040703 X
015 A000704 STANDARD CHARTERED BANK, DHAKA
015 B000704 S
015 C010704 DHAKA
015 D010704 BANGLADESH
015 E040704 X
015 A000705 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B000705 S
015 C010705 BRUSSELS
015 D010705 BELGIUM
015 E040705 X
015 A000706 BANKBOSTON, SAO PAULO
015 B000706 S
015 C010706 SAO PAULO
015 D010706 BRAZIL
015 E040706 X
015 A000707 ROYAL BANK OF CANADA, TORONTO
015 B000707 S
015 C010707 MONTREAL
015 D010707 CANADA
015 E040707 X
015 A000708 STANDARD CHARTERED BANK (SHANGHAI)
015 B000708 S
015 C010708 HONG KONG
015 D010708 CHINA
015 E040708 X
015 A000709 STANDARD CHARTERED BANK (SHENZHEN)
015 B000709 S
015 C010709 HONG KONG
015 D010709 CHINA
015 E040709 X
015 A000710 CESKOSLOVENSKA OBCHODNI BANKA, A.S. ("CSOB
015 B000710 S
015 C010710 PRAHA (PRAGUE)
015 D010710 CZECH REPUBLIC
015 E040710 X
015 A000711 DEN DANSKE BANK, COPENHAGEN
015 B000711 S
015 C010711 COPENHAGEN
015 D010711 DENMARK
015 E040711 X
015 A000712 EUROMARKET - FIRST CHICAGO, LONDON
015 B000712 S
015 C010712 LONDON
015 D010712 UNITED KINGDOM
015 E040712 X
<PAGE> PAGE 57
015 A000713 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B000713 S
015 C010713 LUXEMBOURG CITY
015 D010713 LUXEMBOURG
015 E040713 X
015 A000714 EUROBONDS - EUROCLEAR, BRUSSELS
015 B000714 S
015 C010714 BRUSSELS
015 D010714 BELGIUM
015 E040714 X
015 A000715 MERITA BANK LTD., HELSINKI
015 B000715 S
015 C010715 HELSINKI
015 D010715 FINLAND
015 E040715 X
015 A000716 BANQUE PARIBAS, PARIS
015 B000716 S
015 C010716 PARIS
015 D010716 FRANCE
015 E040716 X
015 A000717 DRESDNER BANK AG, FRANKFURT
015 B000717 S
015 C010717 FRANKFURT/MAIN
015 D010717 GERMANY
015 E040717 X
015 A000718 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B000718 S
015 C010718 JAKARTA
015 D010718 INDONESIA
015 E040718 X
015 A000719 HONGKONG & SHANGHAI BANKING CORP., HONGKO
015 B000719 S
015 C010719 HONG KONG
015 D010719 CHINA
015 E040719 X
015 A000720 ALLIED IRISH BANKS, PLC
015 B000720 S
015 C010720 DUBLIN
015 D010720 IRELAND
015 E040720 X
015 A000721 BANK OF TOKYO - MITSUBISHI LIMITED
015 B000721 S
015 C010721 TOKYO
015 D010721 JAPAN
015 E040721 X
015 A000722 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000722 S
015 C010722 LUXEMBOURG CITY
015 D010722 LUXEMBOURG
015 E040722 X
015 A000723 HONGKONG BANK MALAYSIA BERHAD
<PAGE> PAGE 58
015 B000723 S
015 C010723 KUALA LUMPUR
015 D010723 MALAYSIA
015 E040723 X
015 A000724 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B000724 S
015 C010724 MEXICO CITY
015 D010724 MEXICO
015 E040724 X
015 A000725 MEES PIERSON N.V. (NETHERLANDS)
015 B000725 S
015 C010725 AMSTERDAM
015 D010725 NETHERLANDS
015 E040725 X
015 A000726 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B000726 S
015 C010726 WELLINGTON
015 D010726 NEW ZEALAND
015 E040726 X
015 A000727 STANDARD CHARTERED BANK, KARACHI
015 B000727 S
015 C010727 KARACHI
015 D010727 PAKISTAN
015 E040727 X
015 A000728 CITIBANK, N.A., LIMA
015 B000728 S
015 C010728 LIMA
015 D010728 PERU
015 E040728 X
015 A000729 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B000729 S
015 C010729 PASIG CITY MANILA
015 D010729 PHILIPPINES
015 E040729 X
015 A000730 BANK HANDLOWY W. WARSAWIE, S.A., WARSAW
015 B000730 S
015 C010730 WARSAW
015 D010730 POLAND
015 E040730 X
015 A000731 BANCO COMERCIAL PORTUGUES
015 B000731 S
015 C010731 LISBON
015 D010731 PORTUGAL
015 E040731 X
015 A000732 UNITED OVERSEAS BANK LTD.
015 B000732 S
015 C010732 SINGAPORE
015 D010732 SINGAPORE
015 E040732 X
015 A000733 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B000733 S
<PAGE> PAGE 59
015 C010733 JOHANNESBURG
015 D010733 SOUTH AFRICA
015 E040733 X
015 A000734 SEOULBANK
015 B000734 S
015 C010734 SEOUL
015 D010734 SOUTH KOREA
015 E040734 X
015 A000735 BANCO BILBAO VIZCAYA, MADRID
015 B000735 S
015 C010735 MADRID
015 D010735 SPAIN
015 E040735 X
015 A000736 STANDARD CHARTERED BANK, COLOMBO
015 B000736 S
015 C010736 COLOMBO
015 D010736 SRI LANKA
015 E040736 X
015 A000737 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B000737 S
015 C010737 STOCKHOLM
015 D010737 SWEDEN
015 E040737 X
015 A000738 UNION BANK OF SWITZERLAND, ZURICH
015 B000738 S
015 C010738 ZURICH
015 D010738 SWITZERLAND
015 E040738 X
015 A000739 SIAM COMMERCIAL BANK
015 B000739 S
015 C010739 BANGKOK
015 D010739 THAILAND
015 E040739 X
015 A000740 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B000740 S
015 C010740 ISTANBUL
015 D010740 TURKEY
015 E040740 X
015 A000741 BANK OF NEW YORK, LONDON
015 B000741 S
015 C010741 LONDON
015 D010741 UNITED KINGDOM
015 E040741 X
015 A000742 BANK OF NEW YORK, NEW YORK
015 B000742 C
015 C010742 NEW YORK
015 C020742 NY
015 C030742 10286
015 E010742 X
015 A000743 CITIBANK, N.A., CARACAS
015 B000743 S
<PAGE> PAGE 60
015 C010743 CARACAS
015 D010743 VENEZUELA
015 E040743 X
015 A000744 STANBIC BANK ZAMBIA LTD.
015 B000744 S
015 C010744 LUSAKA
015 D010744 ZAMBIA
015 E040744 X
015 A000745 STANBIC BANK ZIMBABWE LTD.
015 B000745 S
015 C010745 HARARE
015 D010745 ZIMBABWE
015 E040745 X
024 000700 N
028 A010700 718
028 A020700 0
028 A030700 0
028 A040700 4393
028 B010700 1300
028 B020700 0
028 B030700 0
028 B040700 4696
028 C010700 728
028 C020700 0
028 C030700 0
028 C040700 5510
028 D010700 1009
028 D020700 0
028 D030700 0
028 D040700 4978
028 E010700 1014
028 E020700 0
028 E030700 0
028 E040700 4323
028 F010700 810
028 F020700 12370
028 F030700 0
028 F040700 4531
028 G010700 5579
028 G020700 12370
028 G030700 0
028 G040700 28431
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
<PAGE> PAGE 61
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
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 1.0
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 0.0
062 M000700 28.3
062 N000700 0.0
062 O000700 0.0
<PAGE> PAGE 62
062 P000700 0.0
062 Q000700 68.9
062 R000700 0.0
063 A000700 0
063 B000700 6.9
064 A000700 N
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 Y
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 Y
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 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 42228
071 B000700 56257
071 C000700 168667
<PAGE> PAGE 63
071 D000700 25
072 A000700 6
072 B000700 6713
072 C000700 0
072 D000700 0
072 E000700 0
072 F000700 501
072 G000700 0
072 H000700 0
072 I000700 0
072 J000700 32
072 K000700 9
072 L000700 7
072 M000700 1
072 N000700 2
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 3
072 S000700 1
072 T000700 0
072 U000700 0
072 V000700 0
072 W000700 1
072 X000700 557
072 Y000700 0
072 Z000700 6156
072AA000700 2031
072BB000700 2264
072CC010700 0
072CC020700 1106
072DD010700 12370
072DD020700 0
072EE000700 0
073 A010700 0.9800
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 1
074 B000700 1654
074 C000700 0
074 D000700 162242
074 E000700 0
074 F000700 0
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 3089
074 M000700 462
<PAGE> PAGE 64
074 N000700 167448
074 O000700 0
074 P000700 76
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 390
074 S000700 0
074 T000700 166982
074 U010700 13534
074 U020700 0
074 V010700 12.34
074 V020700 0.00
074 W000700 0.0000
074 X000700 3
074 Y000700 0
075 A000700 0
075 B000700 177257
076 000700 0.00
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 BANKBOSTON, BUENOS AIRES
015 B000901 S
015 C010901 BUENOS AIRES
015 D010901 ARGENTINA
015 E040901 X
015 A000902 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B000902 S
015 C010902 MELBOURNE
015 D010902 AUSTRALIA
015 E040902 X
015 A000903 CREDITANSTALT AG, VIENNA
015 B000903 S
015 C010903 VIENNA
015 D010903 AUSTRIA
015 E040903 X
015 A000904 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B000904 S
015 C010904 BRUSSELS
015 D010904 BELGIUM
015 E040904 X
015 A000905 BANKBOSTON, SAO PAULO
015 B000905 S
015 C010905 SAO PAULO
015 D010905 BRAZIL
<PAGE> PAGE 65
015 E040905 X
015 A000906 ROYAL BANK OF CANADA, TORONTO
015 B000906 S
015 C010906 MONTREAL
015 D010906 CANADA
015 E040906 X
015 A000907 STANDARD CHARTERED BANK (SHANGHAI)
015 B000907 S
015 C010907 HONG KONG
015 D010907 CHINA
015 E040907 X
015 A000908 STANDARD CHARTERED BANK (SHENZHEN)
015 B000908 S
015 C010908 HONG KONG
015 D010908 CHINA
015 E040908 X
015 A000909 DEN DANSKE BANK, COPENHAGEN
015 B000909 S
015 C010909 COPENHAGEN
015 D010909 DENMARK
015 E040909 X
015 A000910 EUROMARKET - FIRST CHICAGO, LONDON
015 B000910 S
015 C010910 LONDON
015 D010910 UNITED KINGDOM
015 E040910 X
015 A000911 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B000911 S
015 C010911 LUXEMBOURG CITY
015 D010911 LUXEMBOURG
015 E040911 X
015 A000912 EUROBONDS - EUROCLEAR, BRUSSELS
015 B000912 S
015 C010912 BRUSSELS
015 D010912 BELGIUM
015 E040912 X
015 A000913 MERITA BANK LTD., HELSINKI
015 B000913 S
015 C010913 HELSINKI
015 D010913 FINLAND
015 E040913 X
015 A000914 BANQUE PARIBAS, PARIS
015 B000914 S
015 C010914 PARIS
015 D010914 FRANCE
015 E040914 X
015 A000915 DRESDNER BANK AG, FRANKFURT
015 B000915 S
015 C010915 FRANKFURT/MAIN
015 D010915 GERMANY
015 E040915 X
<PAGE> PAGE 66
015 A000916 HONGKONG & SHANGHAI BANKING CORP., HONGKO
015 B000916 S
015 C010916 HONG KONG
015 D010916 HONG KONG
015 E040916 X
015 A000917 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B000917 S
015 C010917 JAKARTA
015 D010917 INDONESIA
015 E040917 X
015 A000918 ALLIED IRISH BANKS, PLC
015 B000918 S
015 C010918 DUBLIN
015 D010918 IRELAND
015 E040918 X
015 A000919 BANK OF TOKYO - MITSUBISHI LIMITED
015 B000919 S
015 C010919 TOKYO
015 D010919 JAPAN
015 E040919 X
015 A000920 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000920 S
015 C010920 LUXEMBOURG CITY
015 D010920 LUXEMBOURG
015 E040920 X
015 A000921 HONGKONG BANK MALAYSIA BERHAD
015 B000921 S
015 C010921 KUALA LUMPUR
015 D010921 MALAYSIA
015 E040921 X
015 A000922 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B000922 S
015 C010922 MEXICO CITY
015 D010922 MEXICO
015 E040922 X
015 A000923 MEES PIERSON N.V. (NETHERLANDS)
015 B000923 S
015 C010923 AMSTERDAM
015 D010923 NETHERLANDS
015 E040923 X
015 A000924 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B000924 S
015 C010924 WELLINGTON
015 D010924 NEW ZEALAND
015 E040924 X
015 A000925 STANDARD CHARTERED BANK, KARACHI
015 B000925 S
015 C010925 KARACHI
015 D010925 PAKISTAN
015 E040925 X
015 A000926 CITIBANK, N.A., LIMA
<PAGE> PAGE 67
015 B000926 S
015 C010926 LIMA
015 D010926 PERU
015 E040926 X
015 A000927 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B000927 S
015 C010927 PASIG CITY MANILA
015 D010927 PHILIPPINES
015 E040927 X
015 A000928 BANCO COMERCIAL PORTUGUES
015 B000928 S
015 C010928 LISBON
015 D010928 PORTUGAL
015 E040928 X
015 A000929 UNITED OVERSEAS BANK LTD.
015 B000929 S
015 C010929 SINGAPORE
015 D010929 SINGAPORE
015 E040929 X
015 A000930 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B000930 S
015 C010930 JOHANNESBURG
015 D010930 SOUTH AFRICA
015 E040930 X
015 A000931 BANCO BILBAO VIZCAYA, MADRID
015 B000931 S
015 C010931 MADRID
015 D010931 SPAIN
015 E040931 X
015 A000932 STANDARD CHARTERED BANK, COLOMBO
015 B000932 S
015 C010932 COLOMBO
015 D010932 SRI LANKA
015 E040932 X
015 A000933 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B000933 S
015 C010933 STOCKHOLM
015 D010933 SWEDEN
015 E040933 X
015 A000934 UNION BANK OF SWITZERLAND, ZURICH
015 B000934 S
015 C010934 ZURICH
015 D010934 SWITZERLAND
015 E040934 X
015 A000935 SIAM COMMERCIAL BANK
015 B000935 S
015 C010935 BANGKOK
015 D010935 THAILAND
015 E040935 X
015 A000936 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B000936 S
<PAGE> PAGE 68
015 C010936 ISTANBUL
015 D010936 TURKEY
015 E040936 X
015 A000937 BANK OF NEW YORK, LONDON
015 B000937 S
015 C010937 LONDON
015 D010937 UNITED KINGDOM
015 E040937 X
015 A000938 BANK OF NEW YORK, NEW YORK
015 B000938 C
015 C010938 NEW YORK
015 C020938 NY
015 C030938 10286
015 E010938 X
015 A000939 CITIBANK, N.A., CARACAS
015 B000939 S
015 C010939 CARACAS
015 D010939 VENEZUELA
015 E040939 X
015 A000940 STANBIC BANK ZAMBIA LTD.
015 B000940 S
015 C010940 LUSAKA
015 D010940 ZAMBIA
015 E040940 X
015 A000941 STANBIC BANK ZIMBABWE LTD.
015 B000941 S
015 C010941 HARARE
015 D010941 ZIMBABWE
015 E040941 X
024 000900 N
028 A010900 11389
028 A020900 0
028 A030900 0
028 A040900 17874
028 B010900 9350
028 B020900 0
028 B030900 0
028 B040900 23450
028 C010900 9055
028 C020900 0
028 C030900 0
028 C040900 23413
028 D010900 10962
028 D020900 0
028 D030900 0
028 D040900 25810
028 E010900 8779
028 E020900 0
028 E030900 0
028 E040900 28213
028 F010900 9675
<PAGE> PAGE 69
028 F020900 127031
028 F030900 0
028 F040900 24958
028 G010900 59210
028 G020900 127031
028 G030900 0
028 G040900 143718
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
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
<PAGE> PAGE 70
061 000900 2000
062 A000900 Y
062 B000900 0.0
062 C000900 0.0
062 D000900 3.3
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 11.3
062 N000900 0.0
062 O000900 0.0
062 P000900 23.6
062 Q000900 14.1
062 R000900 46.7
063 A000900 0
063 B000900 11.9
064 A000900 N
064 B000900 N
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
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
<PAGE> PAGE 71
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 109683
071 B000900 142498
071 C000900 1316847
071 D000900 8
072 A000900 6
072 B000900 34253
072 C000900 15695
072 D000900 0
072 E000900 0
072 F000900 3213
072 G000900 0
072 H000900 0
072 I000900 0
072 J000900 56
072 K000900 85
072 L000900 68
072 M000900 5
072 N000900 0
072 O000900 0
072 P000900 0
072 Q000900 0
072 R000900 13
072 S000900 11
072 T000900 0
072 U000900 0
072 V000900 0
072 W000900 9
072 X000900 3460
072 Y000900 0
072 Z000900 46488
072AA000900 17041
072BB000900 4382
072CC010900 0
072CC020900 41047
072DD010900 102763
072DD020900 0
072EE000900 24268
073 A010900 1.4200
<PAGE> PAGE 72
073 A020900 0.0000
073 B000900 0.3300
073 C000900 0.0000
074 A000900 0
074 B000900 44425
074 C000900 0
074 D000900 656671
074 E000900 128533
074 F000900 496191
074 G000900 0
074 H000900 0
074 I000900 534
074 J000900 0
074 K000900 0
074 L000900 14670
074 M000900 0
074 N000900 1341024
074 O000900 0
074 P000900 515
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 131
074 S000900 0
074 T000900 1340378
074 U010900 79517
074 U020900 0
074 V010900 16.86
074 V020900 0.00
074 W000900 0.0000
074 X000900 3
074 Y000900 11337
075 A000900 0
075 B000900 1384377
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 BANKBOSTON, BUENOS AIRES
015 B001001 S
015 C011001 BUENOS AIRES
015 D011001 ARGENTINA
015 E041001 X
015 A001002 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B001002 S
015 C011002 MELBOURNE
<PAGE> PAGE 73
015 D011002 AUSTRALIA
015 E041002 X
015 A001003 CREDITANSTALT AG, VIENNA
015 B001003 S
015 C011003 VIENNA
015 D011003 AUSTRIA
015 E041003 X
015 A001004 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B001004 S
015 C011004 BRUSSELS
015 D011004 BELGIUM
015 E041004 X
015 A001005 ROYAL BANK OF CANADA, TORONTO
015 B001005 S
015 C011005 MONTREAL
015 D011005 CANADA
015 E041005 X
015 A001006 DEN DANSKE BANK, COPENHAGEN
015 B001006 S
015 C011006 COPENHAGEN
015 D011006 DENMARK
015 E041006 X
015 A001007 EUROMARKET - FIRST CHICAGO, LONDON
015 B001007 S
015 C011007 LONDON
015 D011007 UNITED KINGDOM
015 E041007 X
015 A001008 EUROMARKET - CEDEL BANK, S.A. LUXEMBOURG
015 B001008 S
015 C011008 LUXEMBOURG CITY
015 D011008 LUXEMBOURG
015 E041008 X
015 A001009 EUROBONDS - EUROCLEAR, BRUSSELS
015 B001009 S
015 C011009 BRUSSELS
015 D011009 BELGIUM
015 E041009 X
015 A001010 MERITA BANK LTD., HELSINKI
015 B001010 S
015 C011010 HELSINKI
015 D011010 FINLAND
015 E041010 X
015 A001011 BANQUE PARIBAS, PARIS
015 B001011 S
015 C011011 PARIS
015 D011011 FRANCE
015 E041011 X
015 A001012 DRESDNER BANK AG, FRANKFURT
015 B001012 S
015 C011012 FRANKFURT/MAIN
015 D011012 GERMANY
<PAGE> PAGE 74
015 E041012 X
015 A001013 HONGKONG & SHANGHAI BANKING CORP., HONGKO
015 B001013 S
015 C011013 HONG KONG
015 D011013 HONG KONG
015 E041013 X
015 A001014 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B001014 S
015 C011014 JAKARTA
015 D011014 INDONESIA
015 E041014 X
015 A001015 ALLIED IRISH BANKS, PLC
015 B001015 S
015 C011015 DUBLIN
015 D011015 IRELAND
015 E041015 X
015 A001016 BANK OF TOKYO - MITSUBISHI LIMITED
015 B001016 S
015 C011016 TOKYO
015 D011016 JAPAN
015 E041016 X
015 A001017 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001017 S
015 C011017 LUXEMBOURG CITY
015 D011017 LUXEMBOURG
015 E041017 X
015 A001018 HONGKONG BANK MALAYSIA BERHAD
015 B001018 S
015 C011018 KUALA LUMPUR
015 D011018 MALAYSIA
015 E041018 X
015 A001019 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B001019 S
015 C011019 MEXICO CITY
015 D011019 MEXICO
015 E041019 X
015 A001020 MEES PIERSON N.V. (NETHERLANDS)
015 B001020 S
015 C011020 AMSTERDAM
015 D011020 NETHERLANDS
015 E041020 X
015 A001021 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B001021 S
015 C011021 WELLINGTON
015 D011021 NEW ZEALAND
015 E041021 X
015 A001022 STANDARD CHARTERED BANK, KARACHI
015 B001022 S
015 C011022 KARACHI
015 D011022 PAKISTAN
015 E041022 X
<PAGE> PAGE 75
015 A001023 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B001023 S
015 C011023 PASIG CITY MANILA
015 D011023 PHILIPPINES
015 E041023 X
015 A001024 BANCO COMERCIAL PORTUGUES
015 B001024 S
015 C011024 LISBON
015 D011024 PORTUGAL
015 E041024 X
015 A001025 UNITED OVERSEAS BANK LTD.
015 B001025 S
015 C011025 SINGAPORE
015 D011025 SINGAPORE
015 E041025 X
015 A001026 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B001026 S
015 C011026 JOHANNESBURG
015 D011026 SOUTH AFRICA
015 E041026 X
015 A001027 BANCO BILBAO VIZCAYA, MADRID
015 B001027 S
015 C011027 MADRID
015 D011027 SPAIN
015 E041027 X
015 A001028 STANDARD CHARTERED BANK, COLOMBO
015 B001028 S
015 C011028 COLOMBO
015 D011028 SRI LANKA
015 E041028 X
015 A001029 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B001029 S
015 C011029 STOCKHOLM
015 D011029 SWEDEN
015 E041029 X
015 A001030 UNION BANK OF SWITZERLAND, ZURICH
015 B001030 S
015 C011030 ZURICH
015 D011030 SWITZERLAND
015 E041030 X
015 A001031 SIAM COMMERICAL BANK
015 B001031 S
015 C011031 BANGKOK
015 D011031 THAILAND
015 E041031 X
015 A001032 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B001032 S
015 C011032 ISTANBUL
015 D011032 TURKEY
015 E041032 X
015 A001033 BANK OF NEW YORK, LONDON
<PAGE> PAGE 76
015 B001033 S
015 C011033 LONDON
015 D011033 UNITED KINGDOM
015 E041033 X
015 A001034 BANK OF NEW YORK, NEW YORK
015 B001034 C
015 C011034 NEW YORK
015 C021034 NY
015 C031034 10286
015 E011034 X
015 A001035 STANBIC BANK ZAMBIA LTD.
015 B001035 S
015 C011035 LUSAKA
015 D011035 ZAMBIA
015 E041035 X
015 A001036 STANBIC BANK ZIMBABWE LTD.
015 B001036 S
015 C011036 HARARE
015 D011036 ZIMBABWE
015 E041036 X
024 001000 N
028 A011000 9504
028 A021000 0
028 A031000 0
028 A041000 27488
028 B011000 4249
028 B021000 0
028 B031000 0
028 B041000 15967
028 C011000 5317
028 C021000 0
028 C031000 0
028 C041000 24760
028 D011000 7280
028 D021000 0
028 D031000 0
028 D041000 18716
028 E011000 9373
028 E021000 0
028 E031000 0
028 E041000 16848
028 F011000 8057
028 F021000 50959
028 F031000 0
028 F041000 21016
028 G011000 43780
028 G021000 50959
028 G031000 0
028 G041000 124795
028 H001000 0
045 001000 Y
<PAGE> PAGE 77
046 001000 N
047 001000 Y
048 001000 0.000
048 A011000 100000
048 A021000 0.625
048 B011000 150000
048 B021000 0.500
048 C011000 9750000
048 C021000 0.450
048 D011000 2500000
048 D021000 0.440
048 E011000 2500000
048 E021000 0.420
048 F011000 0
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
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
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
061 001000 2000
062 A001000 Y
062 B001000 0.0
062 C001000 0.0
062 D001000 3.3
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
<PAGE> PAGE 78
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.0
062 M001000 0.9
062 N001000 95.7
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
063 A001000 0
063 B001000 21.9
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
070 B021000 N
070 C011000 N
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 Y
<PAGE> PAGE 79
070 Q011000 N
070 Q021000 N
070 R011000 N
070 R021000 N
071 A001000 106432
071 B001000 180769
071 C001000 718259
071 D001000 15
072 A001000 6
072 B001000 25020
072 C001000 0
072 D001000 0
072 E001000 0
072 F001000 1762
072 G001000 0
072 H001000 0
072 I001000 0
072 J001000 4
072 K001000 34
072 L001000 27
072 M001000 2
072 N001000 0
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 9
072 S001000 2
072 T001000 0
072 U001000 0
072 V001000 0
072 W001000 7
072 X001000 1847
072 Y001000 0
072 Z001000 23173
072AA001000 1974
072BB001000 1040
072CC011000 1495
072CC021000 0
072DD011000 50959
072DD021000 0
072EE001000 0
073 A011000 1.0300
073 A021000 0.0000
073 B001000 0.0000
073 C001000 0.0000
074 A001000 8
074 B001000 23128
074 C001000 0
074 D001000 685621
074 E001000 0
074 F001000 0
<PAGE> PAGE 80
074 G001000 0
074 H001000 0
074 I001000 0
074 J001000 5053
074 K001000 0
074 L001000 5355
074 M001000 0
074 N001000 719165
074 O001000 8512
074 P001000 283
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 699
074 S001000 0
074 T001000 709671
074 U011000 52997
074 U021000 0
074 V011000 13.39
074 V021000 0.00
074 W001000 0.0000
074 X001000 3
074 Y001000 60007
075 A001000 0
075 B001000 734116
076 001000 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 BANKBOSTON, BUENOS AIRES
015 B001201 S
015 C011201 BUENOS AIRES
015 D011201 ARGENTINA
015 E041201 X
015 A001202 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B001202 S
015 C011202 MELBOURNE
015 D011202 AUSTRALIA
015 E041202 X
015 A001203 CREDITANSTALT AG, VIENNA
015 B001203 S
015 C011203 VIENNA
015 D011203 AUSTRIA
015 E041203 X
015 A001204 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B001204 S
<PAGE> PAGE 81
015 C011204 BRUSSELS
015 D011204 BELGIUM
015 E041204 X
015 A001205 ROYAL BANK OF CANADA, TORONTO
015 B001205 S
015 C011205 MONTREAL
015 D011205 CANADA
015 E041205 X
015 A001206 STANDARD CHARTERED BANK (SHANGHAI)
015 B001206 S
015 C011206 HONG KONG
015 D011206 CHINA
015 E041206 X
015 A001207 STANDARD CHARTERED BANK (SHENZHEN)
015 B001207 S
015 C011207 HONG KONG
015 D011207 CHINA
015 E041207 X
015 A001208 DEN DANSKE BANK, COPENHAGEN
015 B001208 S
015 C011208 COPENHAGEN
015 D011208 DENMARK
015 E041208 X
015 A001209 EUROMARKET - FIRST CHICAGO, LONDON
015 B001209 S
015 C011209 LONDON
015 D011209 UNITED KINGDOM
015 E041209 X
015 A001210 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B001210 S
015 C011210 LUXEMBOURG CITY
015 D011210 LUXEMBOURG
015 E041210 X
015 A001211 EUROBONDS - EUROCLEAR, BRUSSELS
015 B001211 S
015 C011211 BRUSSELS
015 D011211 BELGIUM
015 E041211 X
015 A001212 MERITA BANK LTD., HELSINKI
015 B001212 S
015 C011212 HELSINKI
015 D011212 FINLAND
015 E041212 X
015 A001213 BANQUE PARIBAS, PARIS
015 B001213 S
015 C011213 PARIS
015 D011213 FRANCE
015 E041213 X
015 A001214 DRESDNER BANK AG, FRANKFURT
015 B001214 S
015 C011214 FRANKFURT/MAIN
<PAGE> PAGE 82
015 D011214 GERMANY
015 E041214 X
015 A001215 HONGKONG & SHANGHAI BANKING CORP., HONGKO
015 B001215 S
015 C011215 HONG KONG
015 D011215 HONG KONG
015 E041215 X
015 A001216 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B001216 S
015 C011216 JAKARTA
015 D011216 INDONESIA
015 E041216 X
015 A001217 ALLIED IRISH BANKS, PLC
015 B001217 S
015 C011217 DUBLIN
015 D011217 IRELAND
015 E041217 X
015 A001218 BANK OF TOKYO - MITSUBISHI LIMITED
015 B001218 S
015 C011218 TOKYO
015 D011218 JAPAN
015 E041218 X
015 A001219 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001219 S
015 C011219 LUXEMBOURG CITY
015 D011219 LUXEMBOURG
015 E041219 X
015 A001220 HONGKONG BANK MALAYSIA BERHAD
015 B001220 S
015 C011220 KUALA LUMPUR
015 D011220 MALAYSIA
015 E041220 X
015 A001221 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B001221 S
015 C011221 MEXICO CITY
015 D011221 MEXICO
015 E041221 X
015 A001222 MEES PIERSON N.V. (NETHERLANDS)
015 B001222 S
015 C011222 AMSTERDAM
015 D011222 NETHERLANDS
015 E041222 X
015 A001223 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B001223 S
015 C011223 WELLINGTON
015 D011223 NEW ZEALAND
015 E041223 X
015 A001224 STANDARD CHARTERED BANK, KARACHI
015 B001224 S
015 C011224 KARACHI
015 D011224 PAKISTAN
<PAGE> PAGE 83
015 E041224 X
015 A001225 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B001225 S
015 C011225 PASIG CITY MANILA
015 D011225 PHILIPPINES
015 E041225 X
015 A001226 BANCO COMERCIAL PORTUGUES
015 B001226 S
015 C011226 LISBON
015 D011226 PORTUGAL
015 E041226 X
015 A001227 UNITED OVERSEAS BANK LTD.
015 B001227 S
015 C011227 SINGAPORE
015 D011227 SINGAPORE
015 E041227 X
015 A001228 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B001228 S
015 C011228 JOHANNESBURG
015 D011228 SOUTH AFRICA
015 E041228 X
015 A001229 BANCO BILBAO VIZCAYA, MADRID
015 B001229 S
015 C011229 MADRID
015 D011229 SPAIN
015 E041229 X
015 A001230 STANDARD CHARTERED BANK, COLOMBO
015 B001230 S
015 C011230 COLOMBO
015 D011230 SRI LANKA
015 E041230 X
015 A001231 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B001231 S
015 C011231 STOCKHOLM
015 D011231 SWEDEN
015 E041231 X
015 A001232 UNION BANK OF SWITZERLAND, ZURICH
015 B001232 S
015 C011232 ZURICH
015 D011232 SWITZERLAND
015 E041232 X
015 A001233 SIAM COMMERCIAL BANK
015 B001233 S
015 C011233 BANGKOK
015 D011233 THAILAND
015 E041233 X
015 A001234 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B001234 S
015 C011234 ISTANBUL
015 D011234 TURKEY
015 E041234 X
<PAGE> PAGE 84
015 A001235 BANK OF NEW YORK, LONDON
015 B001235 S
015 C011235 LONDON
015 D011235 UNITED KINGDOM
015 E041235 X
015 A001236 BANK OF NEW YORK, NEW YORK
015 B001236 C
015 C011236 NEW YORK
015 C021236 NY
015 C031236 10286
015 E011236 X
015 A001237 STANBIC BANK ZAMBIA LTD.
015 B001237 S
015 C011237 LUSAKA
015 D011237 ZAMBIA
015 E041237 X
015 A001238 STANBIC BANK ZIMBABWE LTD.
015 B001238 S
015 C011238 HARARE
015 D011238 ZIMBABWE
015 E041238 X
024 001200 N
028 A011200 403
028 A021200 0
028 A031200 0
028 A041200 2817
028 B011200 383
028 B021200 0
028 B031200 0
028 B041200 2243
028 C011200 153
028 C021200 0
028 C031200 0
028 C041200 3643
028 D011200 426
028 D021200 0
028 D031200 0
028 D041200 4165
028 E011200 289
028 E021200 0
028 E031200 0
028 E041200 2431
028 F011200 366
028 F021200 9059
028 F031200 0
028 F041200 1971
028 G011200 2020
028 G021200 9059
028 G031200 0
028 G041200 17270
028 H001200 0
<PAGE> PAGE 85
045 001200 Y
046 001200 N
047 001200 Y
048 001200 0.000
048 A011200 100000
048 A021200 0.625
048 B011200 150000
048 B021200 0.500
048 C011200 9750000
048 C021200 0.450
048 D011200 2500000
048 D021200 0.440
048 E011200 2500000
048 E021200 0.420
048 F011200 0
048 F021200 0.000
048 G011200 0
048 G021200 0.000
048 H011200 0
048 H021200 0.000
048 I011200 0
048 I021200 0.000
048 J011200 0
048 J021200 0.000
048 K011200 15000000
048 K021200 0.400
049 001200 N
050 001200 N
051 001200 N
052 001200 N
053 A001200 Y
053 B001200 Y
053 C001200 N
055 A001200 N
055 B001200 N
056 001200 N
057 001200 N
058 A001200 Y
058 B001200 Y
058 C001200 Y
058 D001200 Y
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 0.1
062 E001200 0.0
<PAGE> PAGE 86
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 9.0
062 N001200 89.0
062 O001200 0.0
062 P001200 0.0
062 Q001200 2.0
062 R001200 0.0
063 A001200 0
063 B001200 2.4
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 Y
070 B021200 N
070 C011200 Y
070 C021200 N
070 D011200 Y
070 D021200 N
070 E011200 Y
070 E021200 N
070 F011200 Y
070 F021200 N
070 G011200 Y
070 G021200 N
070 H011200 Y
070 H021200 N
070 I011200 Y
070 I021200 N
070 J011200 Y
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
<PAGE> PAGE 87
070 O021200 N
070 P011200 Y
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200 17946
071 B001200 33374
071 C001200 105803
071 D001200 17
072 A001200 6
072 B001200 3679
072 C001200 0
072 D001200 0
072 E001200 0
072 F001200 324
072 G001200 0
072 H001200 0
072 I001200 0
072 J001200 1
072 K001200 4
072 L001200 4
072 M001200 0
072 N001200 0
072 O001200 0
072 P001200 0
072 Q001200 0
072 R001200 1
072 S001200 0
072 T001200 0
072 U001200 0
072 V001200 0
072 W001200 2
072 X001200 336
072 Y001200 125
072 Z001200 3468
072AA001200 1399
072BB001200 66
072CC011200 0
072CC021200 1313
072DD011200 7809
072DD021200 0
072EE001200 1249
073 A011200 1.2100
073 A021200 0.0000
073 B001200 0.1900
073 C001200 0.0000
074 A001200 0
074 B001200 78
074 C001200 0
<PAGE> PAGE 88
074 D001200 99955
074 E001200 0
074 F001200 0
074 G001200 0
074 H001200 0
074 I001200 0
074 J001200 0
074 K001200 0
074 L001200 0
074 M001200 0
074 N001200 100033
074 O001200 0
074 P001200 31
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
074 R041200 114
074 S001200 0
074 T001200 99888
074 U011200 7018
074 U021200 0
074 V011200 14.23
074 V021200 0.00
074 W001200 0.0000
074 X001200 3
074 Y001200 8982
075 A001200 0
075 B001200 105757
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 BANKBOSTON, BUENOS AIRES
015 B001301 S
015 C011301 BUENOS AIRES
015 D011301 ARGENTINA
015 E041301 X
015 A001302 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B001302 S
015 C011302 MELBOURNE
015 D011302 AUSTRALIA
015 E041302 X
015 A001303 CREDITANSTALT AG, VIENNA
015 B001303 S
015 C011303 VIENNA
015 D011303 AUSTRIA
<PAGE> PAGE 89
015 E041303 X
015 A001304 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B001304 S
015 C011304 BRUSSELS
015 D011304 BELGIUM
015 E041304 X
015 A001305 ROYAL BANK OF CANADA, TORONTO
015 B001305 S
015 C011305 MONTREAL
015 D011305 CANADA
015 E041305 X
015 A001306 STANDARD CHARTERED BANK (SHANGHAI)
015 B001306 S
015 C011306 HONG KONG
015 D011306 CHINA
015 E041306 X
015 A001307 STANDARD CHARTERED BANK (SHENZHEN)
015 B001307 S
015 C011307 HONG KONG
015 D011307 CHINA
015 E041307 X
015 A001308 DEN DANSKE BANK, COPENHAGEN
015 B001308 S
015 C011308 COPENHAGEN
015 D011308 DENMARK
015 E041308 X
015 A001309 EUROMARKET - FIRST CHICAGO, LONDON
015 B001309 S
015 C011309 LONDON
015 D011309 UNITED KINGDOM
015 E041309 X
015 A001310 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B001310 S
015 C011310 LUXEMBOURG CITY
015 D011310 LUXEMBOURG
015 E041310 X
015 A001311 EUROBONDS - EUROCLEAR, BRUSSELS
015 B001311 S
015 C011311 BRUSSELS
015 D011311 BELGIUM
015 E041311 X
015 A001312 MERITA BANK LTD., HELSINKI
015 B001312 S
015 C011312 HELSINKI
015 D011312 FINLAND
015 E041312 X
015 A001313 BANQUE PARIBAS, PARIS
015 B001313 S
015 C011313 PARIS
015 D011313 FRANCE
015 E041313 X
<PAGE> PAGE 90
015 A001314 DRESDNER BANK AG, FRANKFURT
015 B001314 S
015 C011314 FRANKFURT/MAIN
015 D011314 GERMANY
015 E041314 X
015 A001315 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B001315 S
015 C011315 JAKARTA
015 D011315 INDONESIA
015 E041315 X
015 A001316 HONGKONG & SHANGHAI BANKING CORP., HONGKO
015 B001316 S
015 C011316 HONG KONG
015 D011316 HONG KONG
015 E041316 X
015 A001317 ALLIED IRISH BANKS, PLC
015 B001317 S
015 C011317 DUBLIN
015 D011317 IRELAND
015 E041317 X
015 A001318 BANK OF TOKYO - MITSUBISHI LIMITED
015 B001318 S
015 C011318 TOKYO
015 D011318 JAPAN
015 E041318 X
015 A001319 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001319 S
015 C011319 LUXEMBOURG CITY
015 D011319 LUXEMBOURG
015 E041319 X
015 A001320 HONGKONG BANK MALAYSIA BERHAD
015 B001320 S
015 C011320 KUALA LUMPUR
015 D011320 MALAYSIA
015 E041320 X
015 A001321 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B001321 S
015 C011321 MEXICO CITY
015 D011321 MEXICO
015 E041321 X
015 A001322 MEES PIERSON N.V. (NETHERLANDS)
015 B001322 S
015 C011322 AMSTERDAM
015 D011322 NETHERLANDS
015 E041322 X
015 A001323 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B001323 S
015 C011323 WELLINGTON
015 D011323 NEW ZEALAND
015 E041323 X
015 A001324 STANDARD CHARTERED BANK, KARACHI
<PAGE> PAGE 91
015 B001324 S
015 C011324 KARACHI
015 D011324 PAKISTAN
015 E041324 X
015 A001325 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B001325 S
015 C011325 PASIG CITY MANILA
015 D011325 PHILIPPINES
015 E041325 X
015 A001326 BANCO COMERCIAL PORTUGUES
015 B001326 S
015 C011326 LISBON
015 D011326 PORTUGAL
015 E041326 X
015 A001327 UNITED OVERSEAS BANK LTD.
015 B001327 S
015 C011327 SINGAPORE
015 D011327 SINGAPORE
015 E041327 X
015 A001328 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B001328 S
015 C011328 JOHANNESBURG
015 D011328 SOUTH AFRICA
015 E041328 X
015 A001329 BANCO BILBAO VIZCAYA, MADRID
015 B001329 S
015 C011329 MADRID
015 D011329 SPAIN
015 E041329 X
015 A001330 STANDARD CHARTERED BANK, COLOMBO
015 B001330 S
015 C011330 COLOMBO
015 D011330 SRI LANKA
015 E041330 X
015 A001331 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B001331 S
015 C011331 STOCKHOLM
015 D011331 SWEDEN
015 E041331 X
015 A001332 UNION BANK OF SWITZERLAND, ZURICH
015 B001332 S
015 C011332 ZURICH
015 D011332 SWITZERLAND
015 E041332 X
015 A001333 SIAM COMMERCIAL BANK
015 B001333 S
015 C011333 BANGKOK
015 D011333 THAILAND
015 E041333 X
015 A001334 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B001334 S
<PAGE> PAGE 92
015 C011334 ISTANBUL
015 D011334 TURKEY
015 E041334 X
015 A001335 BANK OF NEW YORK, LONDON
015 B001335 S
015 C011335 LONDON
015 D011335 UNITED KINGDOM
015 E041335 X
015 A001336 BANK OF NEW YORK, NEW YORK
015 B001336 C
015 C011336 NEW YORK
015 C021336 NY
015 C031336 10286
015 E011336 X
015 A001337 STANBIC BANK ZAMBIA LTD.
015 B001337 S
015 C011337 LUSAKA
015 D011337 ZAMBIA
015 E041337 X
015 A001338 STANBIC BANK ZIMBABWE LTD.
015 B001338 S
015 C011338 HARARE
015 D011338 ZIMBABWE
015 E041338 X
024 001300 N
028 A011300 1512
028 A021300 0
028 A031300 0
028 A041300 2498
028 B011300 776
028 B021300 0
028 B031300 0
028 B041300 955
028 C011300 823
028 C021300 0
028 C031300 0
028 C041300 1958
028 D011300 873
028 D021300 0
028 D031300 0
028 D041300 1146
028 E011300 832
028 E021300 0
028 E031300 0
028 E041300 1034
028 F011300 1242
028 F021300 5904
028 F031300 0
028 F041300 1270
028 G011300 6058
028 G021300 5904
<PAGE> PAGE 93
028 G031300 0
028 G041300 8861
028 H001300 0
045 001300 Y
046 001300 N
047 001300 Y
048 001300 0.000
048 A011300 100000
048 A021300 0.625
048 B011300 150000
048 B021300 0.500
048 C011300 9750000
048 C021300 0.450
048 D011300 2500000
048 D021300 0.440
048 E011300 2500000
048 E021300 0.420
048 F011300 0
048 F021300 0.000
048 G011300 0
048 G021300 0.000
048 H011300 0
048 H021300 0.000
048 I011300 0
048 I021300 0.000
048 J011300 0
048 J021300 0.000
048 K011300 15000000
048 K021300 0.400
049 001300 N
050 001300 N
051 001300 N
052 001300 N
053 A001300 Y
053 B001300 Y
053 C001300 N
055 A001300 N
055 B001300 N
056 001300 N
057 001300 N
058 A001300 Y
058 B001300 Y
058 C001300 Y
058 D001300 Y
058 E001300 N
059 001300 Y
060 A001300 Y
060 B001300 Y
061 001300 2000
062 A001300 Y
062 B001300 0.0
<PAGE> PAGE 94
062 C001300 0.0
062 D001300 0.4
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 8.0
062 N001300 87.7
062 O001300 0.0
062 P001300 0.0
062 Q001300 4.0
062 R001300 0.0
063 A001300 0
063 B001300 7.1
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
070 L011300 Y
070 L021300 N
070 M011300 Y
070 M021300 N
<PAGE> PAGE 95
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 968
071 B001300 4230
071 C001300 77122
071 D001300 1
072 A001300 6
072 B001300 2429
072 C001300 0
072 D001300 0
072 E001300 0
072 F001300 239
072 G001300 0
072 H001300 0
072 I001300 0
072 J001300 1
072 K001300 4
072 L001300 3
072 M001300 0
072 N001300 0
072 O001300 0
072 P001300 0
072 Q001300 0
072 R001300 2
072 S001300 0
072 T001300 0
072 U001300 0
072 V001300 0
072 W001300 2
072 X001300 251
072 Y001300 99
072 Z001300 2277
072AA001300 288
072BB001300 0
072CC011300 1096
072CC021300 0
072DD011300 4795
072DD021300 0
072EE001300 1109
073 A011300 1.1000
073 A021300 0.0000
073 B001300 0.2500
073 C001300 0.0000
<PAGE> PAGE 96
074 A001300 0
074 B001300 296
074 C001300 0
074 D001300 77936
074 E001300 0
074 F001300 0
074 G001300 0
074 H001300 0
074 I001300 0
074 J001300 0
074 K001300 0
074 L001300 16
074 M001300 0
074 N001300 78248
074 O001300 0
074 P001300 24
074 Q001300 0
074 R011300 0
074 R021300 0
074 R031300 0
074 R041300 70
074 S001300 0
074 T001300 78154
074 U011300 4729
074 U021300 0
074 V011300 16.53
074 V021300 0.00
074 W001300 0.0000
074 X001300 3
074 Y001300 2543
075 A001300 0
075 B001300 77253
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 BANKBOSTON BUENOS AIRES
015 B001401 S
015 C011401 BUENOS AIRES
015 D011401 ARGENTINA
015 E041401 X
015 A001402 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B001402 S
015 C011402 MELBOURNE
015 D011402 AUSTRALIA
015 E041402 X
015 A001403 CREDITANSTALT AG, VIENNA
<PAGE> PAGE 97
015 B001403 S
015 C011403 VIENNA
015 D011403 AUSTRIA
015 E041403 X
015 A001404 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B001404 S
015 C011404 BRUSSELS
015 D011404 BELGIUM
015 E041404 X
015 A001405 ROYAL BANK OF CANADA, TORONTO
015 B001405 S
015 C011405 MONTREAL
015 D011405 CANADA
015 E041405 X
015 A001406 STANDARD CHARTERED BANK (SHANGHAI)
015 B001406 S
015 C011406 HONG KONG
015 D011406 CHINA
015 E041406 X
015 A001407 STANDARD CHARTERED BANK (SHENZHEN)
015 B001407 S
015 C011407 HONG KONG
015 D011407 CHINA
015 E041407 X
015 A001408 DEN DANSKE BANK, COPENHAGEN
015 B001408 S
015 C011408 COPENHAGEN
015 D011408 DENMARK
015 E041408 X
015 A001409 EUROMARKET - FIRST CHICAGO, LONDON
015 B001409 S
015 C011409 LONDON
015 D011409 UNITED KINGDOM
015 E041409 X
015 A001410 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B001410 S
015 C011410 LUXEMBOURG CITY
015 D011410 LUXEMBOURG
015 E041410 X
015 A001411 EUROBONDS - EUROCLEAR, BRUSSELS
015 B001411 S
015 C011411 BRUSSELS
015 D011411 BELGIUM
015 E041411 X
015 A001412 MERITA BANK LTD., HELSINKI
015 B001412 S
015 C011412 HELSINKI
015 D011412 FINLAND
015 E041412 X
015 A001413 BANQUE PARIBAS, PARIS
015 B001413 S
<PAGE> PAGE 98
015 C011413 PARIS
015 D011413 FRANCE
015 E041413 X
015 A001414 DRESDNER BANK AG, FRANKFURT
015 B001414 S
015 C011414 FRANKFURT/MAIN
015 D011414 GERMANY
015 E041414 X
015 A001415 HONGKONG & SHANGHAI BANKING CORP., HONGKO
015 B001415 S
015 C011415 HONG KONG
015 D011415 HONG KONG
015 E041415 X
015 A001416 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B001416 S
015 C011416 JAKARTA
015 D011416 INDONESIA
015 E041416 X
015 A001417 ALLIED IRISH BANKS, PLC
015 B001417 S
015 C011417 DUBLIN
015 D011417 IRELAND
015 E041417 X
015 A001418 BANK OF TOKYO - MITSUBISHI LIMITED
015 B001418 S
015 C011418 TOKYO
015 D011418 JAPAN
015 E041418 X
015 A001419 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001419 S
015 C011419 LUXEMBOURG CITY
015 D011419 LUXEMBOURG
015 E041419 X
015 A001420 HONGKONG BANK MALAYSIA BERHAD
015 B001420 S
015 C011420 KUALA LUMPUR
015 D011420 MALAYSIA
015 E041420 X
015 A001421 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B001421 S
015 C011421 MEXICO CITY
015 D011421 MEXICO
015 E041421 X
015 A001422 MEES PIERSON N.V. (NETHERLANDS)
015 B001422 S
015 C011422 AMSTERDAM
015 D011422 NETHERLANDS
015 E041422 X
015 A001423 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B001423 S
015 C011423 WELLINGTON
<PAGE> PAGE 99
015 D011423 NEW ZEALAND
015 E041423 X
015 A001424 STANDARD CHARTERED BANK, KARACHI
015 B001424 S
015 C011424 KARACHI
015 D011424 PAKISTAN
015 E041424 X
015 A001425 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B001425 S
015 C011425 PASIG CITY MANILA
015 D011425 PHILIPPINES
015 E041425 X
015 A001426 BANCO COMERCIAL PORTUGUES
015 B001426 S
015 C011426 LISBON
015 D011426 PORTUGAL
015 E041426 X
015 A001427 UNITED OVERSEAS BANK LTD.
015 B001427 S
015 C011427 SINGAPORE
015 D011427 SINGAPORE
015 E041427 X
015 A001428 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B001428 S
015 C011428 JOHANNESBURG
015 D011428 SOUTH AFRICA
015 E041428 X
015 A001429 BANCO BILBAO VIZCAYA, MADRID
015 B001429 S
015 C011429 MADRID
015 D011429 SPAIN
015 E041429 X
015 A001430 STANDARD CHARTERED BANK, COLOMBO
015 B001430 S
015 C011430 COLOMBO
015 D011430 SRI LANKA
015 E041430 X
015 A001431 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B001431 S
015 C011431 STOCKHOLM
015 D011431 SWEDEN
015 E041431 X
015 A001432 UNION BANK OF SWITZERLAND, ZURICH
015 B001432 S
015 C011432 ZURICH
015 D011432 SWITZERLAND
015 E041432 X
015 A001433 SIAM COMMERCIAL BANK
015 B001433 S
015 C011433 BANGKOK
015 D011433 THAILAND
<PAGE> PAGE 100
015 E041433 X
015 A001434 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B001434 S
015 C011434 ISTANBUL
015 D011434 TURKEY
015 E041434 X
015 A001435 BANK OF NEW YORK, LONDON
015 B001435 S
015 C011435 LONDON
015 D011435 UNITED KINGDOM
015 E041435 X
015 A001436 BANK OF NEW YORK, NEW YORK
015 B001436 C
015 C011436 NEW YORK
015 C021436 NY
015 C031436 10286
015 E011436 X
015 A001437 STANBIC BANK ZAMBIA LTD.
015 B001437 S
015 C011437 LUSAKA
015 D011437 ZAMBIA
015 E041437 X
015 A001438 STANBIC BANK ZIMBABWE LTD.
015 B001438 S
015 C011438 HARARE
015 D011438 ZIMBABWE
015 E041438 X
024 001400 N
028 A011400 3302
028 A021400 0
028 A031400 0
028 A041400 4033
028 B011400 3339
028 B021400 0
028 B031400 0
028 B041400 4127
028 C011400 1214
028 C021400 0
028 C031400 0
028 C041400 6036
028 D011400 3154
028 D021400 0
028 D031400 0
028 D041400 2594
028 E011400 1641
028 E021400 0
028 E031400 0
028 E041400 3446
028 F011400 4116
028 F021400 5565
028 F031400 0
<PAGE> PAGE 101
028 F041400 2272
028 G011400 16766
028 G021400 5565
028 G031400 0
028 G041400 22510
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
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
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
<PAGE> PAGE 102
061 001400 2000
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062 C001400 0.0
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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 10.7
062 N001400 82.0
062 O001400 0.0
062 P001400 0.0
062 Q001400 6.0
062 R001400 0.0
063 A001400 0
063 B001400 12.3
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
<PAGE> PAGE 103
070 L021400 N
070 M011400 Y
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
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071 B001400 14856
071 C001400 83556
071 D001400 10
072 A001400 6
072 B001400 2559
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072 D001400 0
072 E001400 0
072 F001400 260
072 G001400 0
072 H001400 0
072 I001400 0
072 J001400 0
072 K001400 4
072 L001400 3
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072 N001400 0
072 O001400 0
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072 Q001400 0
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<PAGE> PAGE 104
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074 H001400 0
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074 K001400 0
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074 M001400 0
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074 Q001400 0
074 R011400 0
074 R021400 0
074 R031400 0
074 R041400 119
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074 T001400 85132
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074 V011400 17.76
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074 Y001400 0
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008 B001601 A
008 C001601 801-51967
008 D011601 FORT LEE
008 D021601 NJ
008 D031601 07024
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015 B001601 S
015 C011601 BUENOS AIRES
015 D011601 ARGENTINA
015 E041601 X
015 A001602 NATIONAL AUSTRALIA BANK, MELBOURNE
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015 C011602 MELBOURNE
015 D011602 AUSTRALIA
<PAGE> PAGE 105
015 E041602 X
015 A001603 CREDITANSTALT AG, VIENNA
015 B001603 S
015 C011603 VIENNA
015 D011603 AUSTRIA
015 E041603 X
015 A001604 BANK BRUXELLES LAMBERT, BELGIUM
015 B001604 S
015 C011604 BRUSSELS
015 D011604 BELGIUM
015 E041604 X
015 A001605 ROYAL BANK OF CANADA, TORONTO
015 B001605 S
015 C011605 MONTREAL
015 D011605 CANADA
015 E041605 X
015 A001606 STANDARD CHARTERED BANK (SHANGHAI)
015 B001606 S
015 C011606 HONG KONG
015 D011606 CHINA
015 E041606 X
015 A001607 STANDARD CHARTERED BANK (SHENZHEN)
015 B001607 S
015 C011607 HONG KONG
015 D011607 CHINA
015 E041607 X
015 A001608 DEN DANSKE BANK, COPENHAGEN
015 B001608 S
015 C011608 COPENHAGEN
015 D011608 DENMARK
015 E041608 X
015 A001609 EUROMARKET - FIRST CHICAGO, LONDON
015 B001609 S
015 C011609 LONDON
015 D011609 UNITED KINGDOM
015 E041609 X
015 A001610 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
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015 C011610 LUXEMBOURG CITY
015 D011610 LUXEMBOURG
015 E041610 X
015 A001611 EUROBONDS - EUROCLEAR, BRUSSELS
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015 C011611 BRUSSELS
015 D011611 BELGIUM
015 E041611 X
015 A001612 MERITA BANK LTD., HELSINKI
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015 C011612 HELSINKI
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<PAGE> PAGE 106
015 A001613 BANQUE PARIBAS, PARIS
015 B001613 S
015 C011613 PARIS
015 D011613 FRANCE
015 E041613 X
015 A001614 DRESDNER BANK AG, FRANKFURT
015 B001614 S
015 C011614 FRANKFURT/MAIN
015 D011614 GERMANY
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015 C011615 HONG KONG
015 D011615 HONG KONG
015 E041615 X
015 A001616 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
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015 C011616 JAKARTA
015 D011616 INDONESIA
015 E041616 X
015 A001617 ALLIED IRISH BANKS, PLC
015 B001617 S
015 C011617 DUBLIN
015 D011617 IRELAND
015 E041617 X
015 A001618 BANK OF TOKYO - MITSUBISHI LIMITED
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015 C011618 TOKYO
015 D011618 JAPAN
015 E041618 X
015 A001619 BANQUE INTERNATIONALE A LUXEMBOURG
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015 C011619 LUXEMBOURG CITY
015 D011619 LUXEMBOURG
015 E041619 X
015 A001620 HONGKONG BANK MALAYSIA BERHAD
015 B001620 S
015 C011620 KUALA LUMPUR
015 D011620 MALAYSIA
015 E041620 X
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<PAGE> PAGE 107
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015 E041623 X
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015 C011624 KARACHI
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015 E041624 X
015 A001625 HONGKONG & SHANGHAI BANKING CORP., MANILA
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015 C011625 PASIG CITY
015 D011625 MANILA
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015 A001626 BANCO COMERCIAL PORTUGUES
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015 C011626 LISBON
015 D011626 PORTUGAL
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015 D011628 SOUTH AFRICA
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015 D011630 SRI LANKA
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<PAGE> PAGE 108
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015 A001634 OSMANLI BANKASI A.S. (OTTOMAN BANK)
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015 C011634 ISTANBUL
015 D011634 TURKEY
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015 A001635 BANK OF NEW YORK, LONDON
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015 C011637 LUSAKA
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015 A001638 STANBIC BANK ZIMBABWE LTD.
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015 C011638 HARARE
015 D011638 ZIMBABWE
015 E041638 X
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<PAGE> PAGE 109
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050 001600 N
051 001600 N
052 001600 N
053 A001600 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
<PAGE> PAGE 110
061 001600 2000
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062 R001600 0.0
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066 B001600 N
066 C001600 Y
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
<PAGE> PAGE 111
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
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<PAGE> PAGE 112
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<PAGE> PAGE 113
008 D041702 3091
015 A001701 BANKBOSTON, BUENOS AIRES
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<PAGE> PAGE 114
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<PAGE> PAGE 115
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<PAGE> PAGE 116
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<PAGE> PAGE 117
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<PAGE> PAGE 118
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048 A021700 1.000
048 B011700 150000
048 B021700 0.900
048 C011700 250000
048 C021700 0.800
048 D011700 0
048 D021700 0.000
048 E011700 0
048 E021700 0.000
048 F011700 0
048 F021700 0.000
048 G011700 0
048 G021700 0.000
048 H011700 0
048 H021700 0.000
048 I011700 0
048 I021700 0.000
048 J011700 0
048 J021700 0.000
048 K011700 500000
048 K021700 0.750
049 001700 N
050 001700 N
051 001700 N
052 001700 N
053 A001700 N
055 A001700 Y
055 B001700 N
<PAGE> PAGE 119
056 001700 Y
057 001700 N
058 A001700 Y
058 B001700 Y
058 C001700 Y
058 D001700 Y
058 E001700 N
059 001700 Y
060 A001700 Y
060 B001700 Y
061 001700 2000
062 A001700 N
062 B001700 0.0
062 C001700 0.0
062 D001700 0.0
062 E001700 0.0
062 F001700 0.0
062 G001700 0.0
062 H001700 0.0
062 I001700 0.0
062 J001700 0.0
062 K001700 0.0
062 L001700 0.0
062 M001700 0.0
062 N001700 0.0
062 O001700 0.0
062 P001700 0.0
062 Q001700 0.0
062 R001700 0.0
063 A001700 0
063 B001700 0.0
066 A001700 Y
066 B001700 N
066 C001700 N
066 D001700 Y
066 E001700 N
066 F001700 N
066 G001700 N
067 001700 N
068 A001700 N
068 B001700 Y
069 001700 N
070 A011700 Y
070 A021700 Y
070 B011700 Y
070 B021700 N
070 C011700 Y
070 C021700 N
070 D011700 Y
070 D021700 N
070 E011700 Y
<PAGE> PAGE 120
070 E021700 N
070 F011700 Y
070 F021700 N
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
071 A001700 13193
071 B001700 37206
071 C001700 138753
071 D001700 10
072 A001700 6
072 B001700 28
072 C001700 3026
072 D001700 0
072 E001700 0
072 F001700 675
072 G001700 0
072 H001700 0
072 I001700 0
072 J001700 59
072 K001700 12
072 L001700 14
072 M001700 1
072 N001700 4
072 O001700 0
072 P001700 0
072 Q001700 0
072 R001700 3
072 S001700 1
072 T001700 0
<PAGE> PAGE 121
072 U001700 0
072 V001700 0
072 W001700 4
072 X001700 773
072 Y001700 0
072 Z001700 2281
072AA001700 7026
072BB001700 17225
072CC011700 0
072CC021700 30270
072DD011700 5322
072DD021700 0
072EE001700 1620
073 A011700 0.3500
073 A021700 0.0000
073 B001700 0.1100
073 C001700 0.0000
074 A001700 1
074 B001700 2690
074 C001700 0
074 D001700 0
074 E001700 0
074 F001700 98859
074 G001700 0
074 H001700 0
074 I001700 0
074 J001700 0
074 K001700 0
074 L001700 972
074 M001700 0
074 N001700 102522
074 O001700 0
074 P001700 100
074 Q001700 0
074 R011700 0
074 R021700 0
074 R031700 0
074 R041700 81
074 S001700 0
074 T001700 102341
074 U011700 16084
074 U021700 0
074 V011700 6.36
074 V021700 0.00
074 W001700 0.0000
074 X001700 3
074 Y001700 0
075 A001700 0
075 B001700 140191
076 001700 0.00
008 A001801 FRANKLIN ADVISERS, INC.
<PAGE> PAGE 122
008 B001801 A
008 C001801 801-26292
008 D011801 SAN MATEO
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 BANKBOSTON, BUENOS AIRES
015 B001801 S
015 C011801 BUENOS AIRES
015 D011801 ARGENTINA
015 E041801 X
015 A001802 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B001802 S
015 C011802 MELBOURNE
015 D011802 AUSTRALIA
015 E041802 X
015 A001803 CREDITANSTALT AG, VIENNA
015 B001803 S
015 C011803 VIENNA
015 D011803 AUSTRIA
015 E041803 X
015 A001804 STANDARD CHARTERED BANK, DHAKA
015 B001804 S
015 C011804 DHAKA
015 D011804 BANGLADESH
015 E041804 X
015 A001805 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B001805 S
015 C011805 BRUSSELS
015 D011805 BELGIUM
015 E041805 X
015 A001806 BANKBOSTON, SAO PAULO
015 B001806 S
015 C011806 SAO PAULO
015 D011806 BRAZIL
015 E041806 X
015 A001807 ROYAL BANK OF CANADA, TORONTO
015 B001807 S
015 C011807 MONTREAL
015 D011807 CANADA
015 E041807 X
015 A001808 STANDARD CHARTERED BANK (SHANGHAI)
015 B001808 S
015 C011808 HONG KONG
<PAGE> PAGE 123
015 D011808 CHINA
015 E041808 X
015 A001809 STANDARD CHARTERED BANK (SHENZHEN)
015 B001809 S
015 C011809 HONG KONG
015 D011809 CHINA
015 E041809 X
015 A001810 CESKOSLOVENSKA OBCHODNI BANKA, A.S. ("CSOB
015 B001810 S
015 C011810 PRAHA (PRAGUE)
015 D011810 CZECH REPUBLIC
015 E041810 X
015 A001811 DEN DANSKE BANK, COPENHAGEN
015 B001811 S
015 C011811 COPENHAGEN
015 D011811 DENMARK
015 E041811 X
015 A001812 EUROMARKET - FIRST CHICAGO, LONDON
015 B001812 S
015 C011812 LONDON
015 D011812 UNITED KINGDOM
015 E041812 X
015 A001813 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B001813 S
015 C011813 LUXEMBOURG CITY
015 D011813 LUXEMBOURG
015 E041813 X
015 A001814 EUROBONDS - EUROCLEAR, BRUSSELS
015 B001814 S
015 C011814 BRUSSELS
015 D011814 BELGIUM
015 E041814 X
015 A001815 MERITA BANK LTD., HELSINKI
015 B001815 S
015 C011815 HELSINKI
015 D011815 FINLAND
015 E041815 X
015 A001816 BANQUE PARIBAS, PARIS
015 B001816 S
015 C011816 PARIS
015 D011816 FRANCE
015 E041816 X
015 A001817 DRESDNER BANK AG, FRANKFURT
015 B001817 S
015 C011817 FRANKFURT/MAIN
015 D011817 GERMANY
015 E041817 X
015 A001818 NATIONAL BANK OF GREECE SA
015 B001818 S
015 C011818 ATHENS
015 D011818 GREECE
<PAGE> PAGE 124
015 E041818 X
015 A001819 HONGKONG & SHANGHAI BANKING CORP., HONGKO
015 B001819 S
015 C011819 HONG KONG
015 D011819 HONG KONG
015 E041819 X
015 A001820 CITIBANK BUDAPEST RT.
015 B001820 S
015 C011820 BUDAPEST
015 D011820 HUNGARY
015 E041820 X
015 A001821 HONGKONG & SHANGHAI BANKING CORP. LTD., BOM
015 B001821 S
015 C011821 BOMBAY
015 D011821 INDIA
015 E041821 X
015 A001822 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B001822 S
015 C011822 JAKARTA
015 D011822 INDONESIA
015 E041822 X
015 A001823 ALLIED IRISH BANKS, PLC
015 B001823 S
015 C011823 DUBLIN
015 D011823 IRELAND
015 E041823 X
015 A001824 BANK OF TOKYO - MITSUBISHI LIMITED
015 B001824 S
015 C011824 TOKYO
015 D011824 JAPAN
015 E041824 X
015 A001825 BANQUE INTERNATIONALE A LUXEMBOURG
015 B001825 S
015 C011825 LUXEMBOURG CITY
015 D011825 LUXEMBOURG
015 E041825 X
015 A001826 HONGKONG BANK MALAYSIA BERHAD
015 B001826 S
015 C011826 KUALA LUMPUR
015 D011826 MALAYSIA
015 E041826 X
015 A001827 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B001827 S
015 C011827 MEXICO CITY
015 D011827 MEXICO
015 E041827 X
015 A001828 MEES PIERSON N.V. (NETHERLANDS)
015 B001828 S
015 C011828 AMSTERDAM
015 D011828 NETHERLANDS
015 E041828 X
<PAGE> PAGE 125
015 A001829 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B001829 S
015 C011829 WELLINGTON
015 D011829 NEW ZEALAND
015 E041829 X
015 A001830 STANDARD CHARTERED BANK, KARACHI
015 B001830 S
015 C011830 KARACHI
015 D011830 PAKISTAN
015 E041830 X
015 A001831 CITIBANK, N.A., LIMA
015 B001831 S
015 C011831 LIMA
015 D011831 PERU
015 E041831 X
015 A001832 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B001832 S
015 C011832 PASIG CITY MANILA
015 D011832 PHILIPPINES
015 E041832 X
015 A001833 BANK HANDLOWY W. WARSAWIE, S.A., WARSAW
015 B001833 S
015 C011833 WARSAW
015 D011833 POLAND
015 E041833 X
015 A001834 BANCO COMERCIAL PORTUGUES
015 B001834 S
015 C011834 LISBON
015 D011834 PORTUGAL
015 E041834 X
015 A001835 UNITED OVERSEAS BANK LTD.
015 B001835 S
015 C011835 SINGAPORE
015 D011835 SINGAPORE
015 E041835 X
015 A001836 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B001836 S
015 C011836 JOHANNESBURG
015 D011836 SOUTH AFRICA
015 E041836 X
015 A001837 SEOULBANK
015 B001837 S
015 C011837 SEOUL
015 D011837 SOUTH KOREA
015 E041837 X
015 A001838 BANCO BILBAO VIZCAYA, MADRID
015 B001838 S
015 C011838 MADRID
015 D011838 SPAIN
015 E041838 X
015 A001839 STANDARD CHARTERED BANK, COLOMBO
<PAGE> PAGE 126
015 B001839 S
015 C011839 COLOMBO
015 D011839 SRI LANKA
015 E041839 X
015 A001840 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B001840 S
015 C011840 STOCKHOLM
015 D011840 SWEDEN
015 E041840 X
015 A001841 UNION BANK OF SWITZERLAND, ZURICH
015 B001841 S
015 C011841 ZURICH
015 D011841 SWITZERLAND
015 E041841 X
015 A001842 SIAM COMMERCIAL BANK
015 B001842 S
015 C011842 BANGKOK
015 D011842 THAILAND
015 E041842 X
015 A001843 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B001843 S
015 C011843 ISTANBUL
015 D011843 TURKEY
015 E041843 X
015 A001844 BANK OF NEW YORK, LONDON
015 B001844 S
015 C011844 LONDON
015 D011844 UNITED KINGDOM
015 E041844 X
015 A001845 BANK OF NEW YORK, NEW YORK
015 B001845 C
015 C011845 NEW YORK
015 C021845 NY
015 C031845 10286
015 E011845 X
015 A001846 STANBIC BAK ZAMBIA LTD.
015 B001846 S
015 C011846 LUSAKA
015 D011846 ZAMBIA
015 E041846 X
015 A001847 STANBIC BANK ZIMBABWE LTD.
015 B001847 S
015 C011847 HARARE
015 D011847 ZIMBABWE
015 E041847 X
024 001800 N
028 A011800 14210
028 A021800 0
028 A031800 0
028 A041800 46776
028 B011800 12489
<PAGE> PAGE 127
028 B021800 0
028 B031800 0
028 B041800 27753
028 C011800 11547
028 C021800 0
028 C031800 0
028 C041800 29997
028 D011800 16972
028 D021800 0
028 D031800 0
028 D041800 35393
028 E011800 14656
028 E021800 0
028 E031800 0
028 E041800 32489
028 F011800 23774
028 F021800 104410
028 F031800 0
028 F041800 34386
028 G011800 93648
028 G021800 104410
028 G031800 0
028 G041800 206794
028 H001800 0
045 001800 Y
046 001800 N
047 001800 Y
048 001800 0.000
048 A011800 100000
048 A021800 1.000
048 B011800 150000
048 B021800 0.900
048 C011800 250000
048 C021800 0.800
048 D011800 0
048 D021800 0.000
048 E011800 0
048 E021800 0.000
048 F011800 0
048 F021800 0.000
048 G011800 0
048 G021800 0.000
048 H011800 0
048 H021800 0.000
048 I011800 0
048 I021800 0.000
048 J011800 0
048 J021800 0.000
048 K011800 500000
048 K021800 0.750
049 001800 N
<PAGE> PAGE 128
050 001800 N
051 001800 N
052 001800 N
053 A001800 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
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
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
<PAGE> PAGE 129
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
070 P021800 N
070 Q011800 N
070 Q021800 N
070 R011800 N
070 R021800 N
071 A001800 0
071 B001800 55113
071 C001800 981577
071 D001800 0
072 A001800 6
072 B001800 5683
072 C001800 16431
072 D001800 0
072 E001800 0
072 F001800 4751
072 G001800 0
072 H001800 0
072 I001800 0
072 J001800 347
072 K001800 58
072 L001800 40
072 M001800 3
072 N001800 6
072 O001800 0
072 P001800 0
<PAGE> PAGE 130
072 Q001800 0
072 R001800 16
072 S001800 5
072 T001800 0
072 U001800 0
072 V001800 0
072 W001800 8
072 X001800 5234
072 Y001800 0
072 Z001800 16880
072AA001800 33412
072BB001800 25171
072CC011800 122893
072CC021800 0
072DD011800 34702
072DD021800 0
072EE001800 69708
073 A011800 0.5300
073 A021800 0.0000
073 B001800 1.0500
073 C001800 0.0000
074 A001800 0
074 B001800 181757
074 C001800 0
074 D001800 0
074 E001800 37321
074 F001800 961519
074 G001800 0
074 H001800 0
074 I001800 0
074 J001800 12110
074 K001800 0
074 L001800 5298
074 M001800 0
074 N001800 1198005
074 O001800 2
074 P001800 782
074 Q001800 0
074 R011800 0
074 R021800 0
074 R031800 0
074 R041800 923
074 S001800 0
074 T001800 1196298
074 U011800 71772
074 U021800 0
074 V011800 16.67
074 V021800 0.00
074 W001800 0.0000
074 X001800 3
074 Y001800 0
<PAGE> PAGE 131
075 A001800 0
075 B001800 1197329
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 CHASE MANHATTAN BANK, BUENOS AIRES
015 B001901 S
015 C011901 BUENOS AIRES
015 D011901 ARGENTINA
015 E041901 X
015 A001902 CHASE MANHATTAN BANK AUSTRALIA LIMITED
015 B001902 S
015 C011902 SYDNEY
015 D011902 AUSTRALIA
015 E041902 X
015 A001903 CREDITANSTALT AG, VIENNA
015 B001903 S
015 C011903 VIENNA
015 D011903 AUSTRIA
015 E041903 X
015 A001904 BRITISH BANK OF THE MIDDLE EAST, BAHRAIN
015 B001904 S
015 C011904 MANAMA
015 D011904 BAHRAIN
015 E041904 X
015 A001905 STANDARD CHARTERED BANK, DHAKA
015 B001905 S
015 C011905 DHAKA
015 D011905 BANGLADESH
015 E041905 X
015 A001906 GENERALE BANK
015 B001906 S
015 C011906 BRUSSELS
015 D011906 BELGIUM
015 E041906 X
015 A001907 BANK OF BERMUDA LIMITED
015 B001907 S
015 C011907 HAMILTON
015 D011907 BERMUDA
015 E041907 X
015 A001908 BARCLAYS BANK OF BOTSWANA LTD.
015 B001908 S
015 C011908 GABORONE
015 D011908 BOTSWANA
015 E041908 X
015 A001909 CITIBANK, N.A., SAO PAULO
015 B001909 S
<PAGE> PAGE 132
015 C011909 SAO PAULO
015 D011909 BRAZIL
015 E041909 X
015 A001910 ROYAL BANK OF CANADA/CANADA TRUST
015 B001910 S
015 C011910 TORONTO
015 D011910 CANADA
015 E041910 X
015 A001911 HONGKONG & SHANGHAI BANKING CORP. LTD., SHA
015 B001911 S
015 C011911 SHANGHAI
015 D011911 CHINA
015 E041911 X
015 A001912 HONGKONG & SHANGHAI BANKING CORP. LTD., SHE
015 B001912 S
015 C011912 SHENZHEN
015 D011912 CHINA
015 E041912 X
015 A001913 CITITRUST COLOMBIA SA
015 B001913 S
015 C011913 SANTAFE DE BOGOTA
015 D011913 COLOMBIA
015 E041913 X
015 A001914 PRIVREDNA BANKA ZAGRED D.D.
015 B001914 S
015 C011914 ZAGREB
015 D011914 CROATIA
015 E041914 X
015 A001915 BARCLAYS BANK PLC, NICOSIA
015 B001915 S
015 C011915 CYPRUS
015 D011915 CYPRUS
015 E041915 X
015 A001916 CESKOSLOVENSKA OBCHODNI BANKA, A.S. ("CSOB
015 B001916 S
015 C011916 PRAGUE
015 D011916 CZECH REPUBLIC
015 E041916 X
015 A001917 DEN DANSKE BANK, COPENHAGEN
015 B001917 S
015 C011917 COPENHAGEN
015 D011917 DENMARK
015 E041917 X
015 A001918 CITIBANK, N.A., QUITO
015 B001918 S
015 C011918 QUITO
015 D011918 ECUADOR
015 E041918 X
015 A001919 NATIONAL BANK OF EGYPT
015 B001919 S
015 C011919 CAIRO
<PAGE> PAGE 133
015 D011919 EGYPT
015 E041919 X
015 A001920 EUROMARKET - FIRST CHICAGO, LONDON
015 B001920 S
015 C011920 LONDON
015 D011920 UNITED KINGDOM
015 E041920 X
015 A001921 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B001921 S
015 C011921 LUXEMBOURG CITY
015 D011921 LUXEMBOURG
015 E041921 X
015 A001922 EUROBONDS - EUROCLEAR, BRUSSELS
015 B001922 S
015 C011922 BRUSSELS
015 D011922 BELGIUM
015 E041922 X
015 A001923 MERITA BANK LTD., HELSINKI
015 B001923 S
015 C011923 HELSINKI
015 D011923 FINLAND
015 E041923 X
015 A001924 BANQUE PARIBAS, PARIS
015 B001924 S
015 C011924 PARIS
015 D011924 FRANCE
015 E041924 X
015 A001925 DRESDNER BANK AG, FRANKFURT
015 B001925 S
015 C011925 FRANKFURT
015 D011925 GERMANY
015 E041925 X
015 A001926 BARCLAYS BANK OF GHANA LTD., ACCRA
015 B001926 S
015 C011926 ACCRA
015 D011926 GHANA
015 E041926 X
015 A001927 BARCLAYS BANK PLC, ATHENS
015 B001927 S
015 C011927 ATHENS
015 D011927 GREECE
015 E041927 X
015 A001928 CHASE MANHATTAN BANK, N.A., HONG KONG
015 B001928 S
015 C011928 HONG KONG
015 D011928 HONG KONG
015 E041928 X
015 A001929 CITIBANK BUDAPEST RT.
015 B001929 S
015 C011929 BUDAPEST
015 D011929 HUNGARY
<PAGE> PAGE 134
015 E041929 X
015 A001930 HONGKONG & SHANGHAI BANKING CORP. LTD., BOM
015 B001930 S
015 C011930 BOMBAY
015 D011930 INDIA
015 E041930 X
015 A001931 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B001931 S
015 C011931 JAKARTA
015 D011931 INDONESIA
015 E041931 X
015 A001932 BANK OF IRELAND, DUBLIN
015 B001932 S
015 C011932 DUBLIN
015 D011932 IRELAND
015 E041932 X
015 A001933 BANK LEUMI LE-ISRAEL B.M., TEL AVIV
015 B001933 S
015 C011933 TEL AVIV
015 D011933 ISRAEL
015 E041933 X
015 A001934 BANQUE PARIBAS, MILAN
015 B001934 S
015 C011934 MILAN
015 D011934 ITALY
015 E041934 X
015 A001935 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B001935 S
015 C011935 ABIDJAN
015 D011935 IVORY COAST
015 E041935 X
015 A001936 FUJI BANK, LTD. TOKYO
015 B001936 S
015 C011936 TOKYO
015 D011936 JAPAN
015 E041936 X
015 A001937 ARAB BANK LIMITED, AMMAN
015 B001937 S
015 C011937 AMMAN
015 D011937 JORDAN
015 E041937 X
015 A001938 BARCLAYS BANK OF KENYA, NAIROBI
015 B001938 S
015 C011938 NAIROBI
015 D011938 KENYA
015 E041938 X
015 A001939 BRITISH BANK OF THE MIDDLE EAST, LEBANON
015 B001939 S
015 C011939 BEIRUT
015 D011939 LEBANON
015 E041939 X
<PAGE> PAGE 135
015 A001940 BANQUE GENERALE DU LUXEMBOURG
015 B001940 S
015 C011940 LUXEMBOURG CITY
015 D011940 LUXEMBOURG
015 E041940 X
015 A001941 CHASE MANHATTAN BANK BERHAD, KUALA LUMPUR
015 B001941 S
015 C011941 KUALA LUMPUR
015 D011941 MALAYSIA
015 E041941 X
015 A001942 HONGKONG & SHANGHAI BANKING CORP. LTD. CURE
015 B001942 S
015 C011942 CUREPIPE
015 D011942 MAURITIUS
015 E041942 X
015 A001943 CHASE MANHATTAN BANK, S.A., MEXICO
015 B001943 S
015 C011943 MEXICO CITY
015 D011943 MEXICO
015 E041943 X
015 A001944 BANQUE COMMERCIALE DU MAROC, CASABLANCA
015 B001944 S
015 C011944 CASABLANCA
015 D011944 MOROCCO
015 E041944 X
015 A001945 STANDARD BANK NAMIBIA LIMITED
015 B001945 S
015 C011945 WINDHOEK
015 D011945 NAMIBIA
015 E041945 X
015 A001946 ABN AMRO NV, DE BREDA
015 B001946 S
015 C011946 AMSTERDAM
015 D011946 NETHERLANDS
015 E041946 X
015 A001947 NATIONAL NOMINEES LIMITED, AUCKLAND
015 B001947 S
015 C011947 AUCKLAND
015 D011947 NEW ZEALAND
015 E041947 X
015 A001948 DEN NORSKE BANK AS, OSLO
015 B001948 S
015 C011948 OSLO
015 D011948 NORWAY
015 E041948 X
015 A001949 BRITISH BANK OF THE MIDDLE EAST, OMAN
015 B001949 S
015 C011949 MUSCAT
015 D011949 OMAN
015 E041949 X
015 A001950 CITIBANK, N.A., KARACHI
<PAGE> PAGE 136
015 B001950 S
015 C011950 KARACHI
015 D011950 PAKISTAN
015 E041950 X
015 A001951 CITIBANK, N.A., LIMA
015 B001951 S
015 C011951 LIMA
015 D011951 PERU
015 E041951 X
015 A001952 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B001952 S
015 C011952 MANILA
015 D011952 PHILIPPINES
015 E041952 X
015 A001953 BANK HANDLOWY W. WARSAWIE, S.A., WARSAW
015 B001953 S
015 C011953 WARSAW
015 D011953 POLAND
015 E041953 X
015 A001954 BANCO ESPIRITO SANTO & COMERCIAL DE LISBOA, L
015 B001954 S
015 C011954 LISBON
015 D011954 PORTUGAL
015 E041954 X
015 A001955 ING BANK (ROMANIA)
015 B001955 S
015 C011955 BUCHAREST
015 D011955 ROMANIA
015 E041955 X
015 A001956 CHASE MANHATTAN BANK INTERNATIONAL, MOSCOW
015 B001956 S
015 C011956 MOSCOW
015 D011956 RUSSIA
015 E041956 X
015 A001957 STANDARD CHARTERED BANK, SINGAPORE
015 B001957 S
015 C011957 SINGAPORE
015 D011957 SINGAPORE
015 E041957 X
015 A001958 CESKOSLOVENSKA OBCHODNI BANK, A.S., BRATISLA
015 B001958 S
015 C011958 BRATISLAVA
015 D011958 SLOVAKIA
015 E041958 X
015 A001959 BANKA CREDITANSTALT D.D. LJUBLJANA
015 B001959 S
015 C011959 LJUBLJANA
015 D011959 SLOVENIA
015 E041959 X
015 A001960 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B001960 S
<PAGE> PAGE 137
015 C011960 JOHANNESBURG
015 D011960 SOUTH AFRICA
015 E041960 X
015 A001961 HONGKONG & SHANGHAI BANKING CORP. LTD., SEO
015 B001961 S
015 C011961 SEOUL
015 D011961 SOUTH KOREA
015 E041961 X
015 A001962 CHASE MANHATTAN BANK, N.A., MADRID
015 B001962 S
015 C011962 MADRID
015 D011962 SPAIN
015 E041962 X
015 A001963 HONGKONG & SHANGHAI BANKING CORP., COLOMB
015 B001963 S
015 C011963 COLOMBO
015 D011963 SRI LANKA
015 E041963 X
015 A001964 STANBIC BANK SWAZILAND LIMITED
015 B001964 S
015 C011964 MBABANE
015 D011964 SWAZILAND
015 E041964 X
015 A001965 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B001965 S
015 C011965 STOCKHOLM
015 D011965 SWEDEN
015 E041965 X
015 A001966 UNION BANK OF SWITZERLAND, ZURICH
015 B001966 S
015 C011966 ZURICH
015 D011966 SWITZERLAND
015 E041966 X
015 A001967 CHASE MANHATTAN BANK, N.A., TAIPEI
015 B001967 S
015 C011967 TAIPEI
015 D011967 TAIWAN
015 E041967 X
015 A001968 CHASE MANHATTAN BANK, N.A., BANGKOK
015 B001968 S
015 C011968 BANGKOK
015 D011968 THAILAND
015 E041968 X
015 A001969 CHASE MANHATTAN BANK, N.A., ISTANBUL
015 B001969 S
015 C011969 ISTANBUL
015 D011969 TURKEY
015 E041969 X
015 A001970 CHASE MANHATTAN BANK, N.A., LONDON
015 B001970 S
015 C011970 LONDON
<PAGE> PAGE 138
015 D011970 UNITED KINGDOM
015 E041970 X
015 A001971 CHASE MANHATTAN BANK, NEW YORK
015 B001971 C
015 C011971 NEW YORK
015 C021971 NY
015 C031971 10286
015 E011971 X
015 A001972 BANKBOSTON, N.A. (MONTEVIDEO BRANCH)
015 B001972 S
015 C011972 MONTEVIDEO
015 D011972 URUGUAY
015 E041972 X
015 A001973 CITIBANK, N.A., CARACAS
015 B001973 S
015 C011973 CARACAS
015 D011973 VENEZUELA
015 E041973 X
015 A001974 BARCLAYS BANK OF ZAMBIA
015 B001974 S
015 C011974 LUSAKA
015 D011974 ZAMBIA
015 E041974 X
015 A001975 BARCLAYS BANK OF ZIMBABWE
015 B001975 S
015 C011975 HARARE
015 D011975 ZIMBABWE
015 E041975 X
024 001900 Y
025 A001901 HSBC HOLDINGS PLC
025 B001901 13-2650272
025 C001901 E
025 D001901 2388
025 D001902 0
025 D001903 0
025 D001904 0
025 D001905 0
025 D001906 0
025 D001907 0
025 D001908 0
028 A011900 5629
028 A021900 0
028 A031900 0
028 A041900 12148
028 B011900 7638
028 B021900 0
028 B031900 0
028 B041900 8122
028 C011900 5210
028 C021900 0
028 C031900 0
<PAGE> PAGE 139
028 C041900 9837
028 D011900 6328
028 D021900 0
028 D031900 0
028 D041900 12529
028 E011900 2355
028 E021900 0
028 E031900 0
028 E041900 9365
028 F011900 2508
028 F021900 29794
028 F031900 0
028 F041900 9412
028 G011900 29668
028 G021900 29794
028 G031900 0
028 G041900 61413
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
055 A001900 N
055 B001900 N
<PAGE> PAGE 140
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 141
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 19721
071 B001900 70734
071 C001900 231944
071 D001900 9
072 A001900 6
072 B001900 574
072 C001900 3937
072 D001900 0
072 E001900 0
072 F001900 1595
072 G001900 0
072 H001900 0
072 I001900 0
072 J001900 212
072 K001900 17
072 L001900 11
072 M001900 1
072 N001900 0
072 O001900 0
072 P001900 0
072 Q001900 0
072 R001900 6
072 S001900 14
072 T001900 0
<PAGE> PAGE 142
072 U001900 0
072 V001900 0
072 W001900 0
072 X001900 1856
072 Y001900 0
072 Z001900 2655
072AA001900 25939
072BB001900 18750
072CC011900 0
072CC021900 55867
072DD011900 7007
072DD021900 0
072EE001900 22786
073 A011900 0.2900
073 A021900 0.0000
073 B001900 0.9400
073 C001900 0.0000
074 A001900 512
074 B001900 0
074 C001900 44026
074 D001900 14
074 E001900 11761
074 F001900 140410
074 G001900 0
074 H001900 0
074 I001900 0
074 J001900 6532
074 K001900 0
074 L001900 1210
074 M001900 0
074 N001900 204465
074 O001900 1991
074 P001900 212
074 Q001900 0
074 R011900 0
074 R021900 0
074 R031900 0
074 R041900 350
074 S001900 0
074 T001900 201912
074 U011900 27980
074 U021900 0
074 V011900 7.22
074 V021900 0.00
074 W001900 0.0000
074 X001900 3
074 Y001900 0
075 A001900 0
075 B001900 257236
076 001900 0.00
008 A002001 TEMPLETON GLOBAL ADVISORS LTD.
<PAGE> PAGE 143
008 B002001 A
008 C002001 801-42343
008 D012001 NASSAU
008 D052001 BAHAMAS
015 A002001 CHASE MANHATTAN BANK, BUENOS AIRES
015 B002001 S
015 C012001 BUENOS AIRES
015 D012001 ARGENTINA
015 E042001 X
015 A002002 CHASE MANHATTAN BANK AUSTRALIA LIMITED
015 B002002 S
015 C012002 SYDNEY
015 D012002 AUSTRALIA
015 E042002 X
015 A002003 CREDITANSTALT AG, VIENNA
015 B002003 S
015 C012003 VIENNA
015 D012003 AUSTRIA
015 E042003 X
015 A002004 BRITISH BANK OF THE MIDDLE EAST, BAHRAIN
015 B002004 S
015 C012004 MANAMA
015 D012004 BAHRAIN
015 E042004 X
015 A002005 STANDARD CHARTERED BANK, DHAKA
015 B002005 S
015 C012005 DHAKA
015 D012005 BANGLADESH
015 E042005 X
015 A002006 GENERALE BANK
015 B002006 S
015 C012006 BRUSSELS
015 D012006 BELGIUM
015 E042006 X
015 A002007 BANK OF BERMUDA LIMITED
015 B002007 S
015 C012007 HAMILTON
015 D012007 BERMUDA
015 E042007 X
015 A002008 BARCLAYS BANK OF BOTSWANA LTD.
015 B002008 S
015 C012008 GABORONE
015 D012008 BOTSWANA
015 E042008 X
015 A002009 CITIBANK, N.A., SAO PAULO
015 B002009 S
015 C012009 SAO PAULO
015 D012009 BRAZIL
015 E042009 X
015 A002010 ROYAL BANK OF CANADA/CANADA TRUST
015 B002010 S
<PAGE> PAGE 144
015 C012010 TORONTO
015 D012010 CANADA
015 E042010 X
015 A002011 HONGKONG & SHANGHAI BANKING CORP. LTD., SHA
015 B002011 S
015 C012011 SHANGHAI
015 D012011 CHINA
015 E042011 X
015 A002012 HONGKONG & SHANGHAI BANKING CORP. LTD., SHE
015 B002012 S
015 C012012 SHENZHEN
015 D012012 CHINA
015 E042012 X
015 A002013 CITITRUST COLOMBIA SA
015 B002013 S
015 C012013 SANTAFE DE BOGOTA
015 D012013 COLOMBIA
015 E042013 X
015 A002014 PRIVREDNA BANKA ZAGREB D.D.
015 B002014 S
015 C012014 ZAGREB
015 D012014 CROATIA
015 E042014 X
015 A002015 BARCLAYS BANK PLC, NICOSIA
015 B002015 S
015 C012015 CYPRUS
015 D012015 CYPRUS
015 E042015 X
015 A002016 CESKOSLOVENSKA OBCHODNI BANKA, A.S. ("CSOB
015 B002016 S
015 C012016 PRAGUE
015 D012016 CZECH REPUBLIC
015 E042016 X
015 A002017 DEN DANSKE BANK, COPENHAGEN
015 B002017 S
015 C012017 COPENHAGEN
015 D012017 DENMARK
015 E042017 X
015 A002018 CITIBANK, N.A., QUITO
015 B002018 S
015 C012018 QUITO
015 D012018 ECUADOR
015 E042018 X
015 A002019 0ATIONAL BANK OF EGYPT
015 B002019 S
015 C012019 CAIRO
015 D012019 EGYPT
015 E042019 X
015 A002020 EUROMARKET - FIRST CHICAGO, LONDON
015 B002020 S
015 C012020 LONDON
<PAGE> PAGE 145
015 D012020 UNITED KINGDOM
015 E042020 X
015 A002021 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B002021 S
015 C012021 LUXEMBOURG CITY
015 D012021 LUXEMBOURG
015 E042021 X
015 A002022 EUROBONDS - EUROCLEAR, BRUSSELS
015 B002022 S
015 C012022 BRUSSELS
015 D012022 BELGIUM
015 E042022 X
015 A002023 MERITA BANK LTD., HELSINKI
015 B002023 S
015 C012023 HELSINKI
015 D012023 FINLAND
015 E042023 X
015 A002024 BANQUE PARIBAS, PARIS
015 B002024 S
015 C012024 PARIS
015 D012024 FRANCE
015 E042024 X
015 A002025 DRESDNER BANK AG, FRANKFURT
015 B002025 S
015 C012025 FRANKFURT
015 D012025 GERMANY
015 E042025 X
015 A002026 BARCLAYS BANK OF GHANA LTD., ACCRA
015 B002026 S
015 C012026 ACCRA
015 D012026 GHANA
015 E042026 X
015 A002027 BARCLAYS BANK PLC, ATHENS
015 B002027 S
015 C012027 ATHENS
015 D012027 GREECE
015 E042027 X
015 A002028 CHASE MANHATTAN BANK, N.A., HONG KONG
015 B002028 S
015 C012028 HONG KONG
015 D012028 HONG KONG
015 E042028 X
015 A002029 CITIBANK BUDAPEST RT.
015 B002029 S
015 C012029 BUDAPEST
015 D012029 HUNGARY
015 E042029 X
015 A002030 HONGKONG & SHANGHAI BANKING CORP. LTD., BOM
015 B002030 S
015 C012030 BOMBAY
015 D012030 INDIA
<PAGE> PAGE 146
015 E042030 X
015 A002031 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B002031 S
015 C012031 JAKARTA
015 D012031 INDONESIA
015 E042031 X
015 A002032 BANK OF IRELAND, DUBLIN
015 B002032 S
015 C012032 DUBLIN
015 D012032 IRELAND
015 E042032 X
015 A002033 BANK LEUMI LE-ISRAEL B.M., TEL AVIV
015 B002033 S
015 C012033 TEL AVIV
015 D012033 ISRAEL
015 E042033 X
015 A002034 BANQUE PARIBAS, MILAN
015 B002034 S
015 C012034 MILAN
015 D012034 ITALY
015 E042034 X
015 A002035 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B002035 S
015 C012035 ABIDJAN
015 D012035 IVORY COAST
015 E042035 X
015 A002036 FUJI BANK, LTD., TOKYO
015 B002036 S
015 C012036 TOKYO
015 D012036 JAPAN
015 E042036 X
015 A002037 BARCLAYS BANK OF KENYA, NAIROBI
015 B002037 S
015 C012037 NAIROBI
015 D012037 KENYA
015 E042037 X
015 A002038 BRITISH BANK OF THE MIDDLE EAST, LEBANON
015 B002038 S
015 C012038 BEIRUT
015 D012038 LEBANON
015 E042038 X
015 A002039 BANQUE GENERALE DU LUXEMBOURG
015 B002039 S
015 C012039 LUXEMBOURG CITY
015 D012039 LUXEMBOURG
015 E042039 X
015 A002040 CHASE MANHATTAN BANK BERHAD, KUALA LUMPUR
015 B002040 S
015 C012040 KUALA LUMPUR
015 D012040 MALAYSIA
015 E042040 X
<PAGE> PAGE 147
015 A002041 HONGKONG & SHANGHAI BANKING CORP. LTD. CURE
015 B002041 S
015 C012041 CUREPIPE
015 D012041 MAURITIUS
015 E042041 X
015 A002042 CHASE MANHATTAN BANK, S.A., MEXICO
015 B002042 S
015 C012042 MEXICO CITY
015 D012042 MEXICO
015 E042042 X
015 A002043 BANQUE COMMERCIALE DU MAROC, CASABLANCA
015 B002043 S
015 C012043 CASABLANCA
015 D012043 MOROCCO
015 E042043 X
015 A002044 STANDARD BANK NAMIBIA LIMITED
015 B002044 S
015 C012044 WINDHOEK
015 D012044 NAMIBIA
015 E042044 X
015 A002045 ABN AMRO NV, DE BREDA
015 B002045 S
015 C012045 AMSTERDAM
015 D012045 NETHERLANDS
015 E042045 X
015 A002046 NATIONAL NOMINEES LIMITED, AUCKLAND
015 B002046 S
015 C012046 AUCKLAND
015 D012046 NEW ZEALAND
015 E042046 X
015 A002047 DEN NORSKE BANK AS, OSLO
015 B002047 S
015 C012047 OSLO
015 D012047 NORWAY
015 E042047 X
015 A002048 BRITISH BANK OF THE MIDDLE EAST, OMAN
015 B002048 S
015 C012048 MUSCAT
015 D012048 OMAN
015 E042048 X
015 A002049 CITIBANK, N.A., KARACHI
015 B002049 S
015 C012049 KARACHI
015 D012049 PAKISTAN
015 E042049 X
015 A002050 CITIBANK, N.A., LIMA
015 B002050 S
015 C012050 LIMA
015 D012050 PERU
015 E042050 X
015 A002051 HONGKONG & SHANGHAI BANKING CORP., MANILA
<PAGE> PAGE 148
015 B002051 S
015 C012051 MANILA
015 D012051 PHILIPPINES
015 E042051 X
015 A002052 BANK HANDLOWY W. WARSAWIE, S.A., WARSAW
015 B002052 S
015 C012052 WARSAW
015 D012052 POLAND
015 E042052 X
015 A002053 BANCO ESPIRITO SANTO & COMERCIAL DE LISBOA, L
015 B002053 S
015 C012053 LISBON
015 D012053 PORTUGAL
015 E042053 X
015 A002054 ING BANK (ROMANIA)
015 B002054 S
015 C012054 BUCHAREST
015 D012054 ROMANIA
015 E042054 X
015 A002055 CHASE MANHATTAN BANK INTERNATIONAL, MOSCOW
015 B002055 S
015 C012055 MOSCOW
015 D012055 RUSSIA
015 E042055 X
015 A002056 STANDARD CHARTERED BANK, SINGAPORE
015 B002056 S
015 C012056 SINGAPORE
015 D012056 SINGAPORE
015 E042056 X
015 A002057 CESKOSLOVENSKA OBCHODNI BANKA, A.S., BRATISLA
015 B002057 S
015 C012057 BRATISLAVA
015 D012057 SLOVAKIA
015 E042057 X
015 A002058 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B002058 S
015 C012058 JOHANNESBURG
015 D012058 SOUTH AFRICA
015 E042058 X
015 A002059 HONGKONG & SHANGHAI BANKING CORP. LTD., SEO
015 B002059 S
015 C012059 SEOUL
015 D012059 SOUTH KOREA
015 E042059 X
015 A002060 CHASE MANHATTAN BANK, N.A., MADRID
015 B002060 S
015 C012060 MADRID
015 D012060 SPAIN
015 E042060 X
015 A002061 HONGKONG & SHANGHAI BANKING CORP., COLOMB
015 B002061 S
<PAGE> PAGE 149
015 C012061 COLOMBO
015 D012061 SRI LANKA
015 E042061 X
015 A002062 STANBIC BANK SWAZILAND LIMITED
015 B002062 S
015 C012062 MBABANE
015 D012062 SWAZILAND
015 E042062 X
015 A002063 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B002063 S
015 C012063 STOCKHOLM
015 D012063 SWEDEN
015 E042063 X
015 A002064 UNION BANK OF SWITZERLAND, ZURICH
015 B002064 S
015 C012064 ZURICH
015 D012064 SWITZERLAND
015 E042064 X
015 A002065 CHASE MANHATTAN BANK, N.A., BANGKOK
015 B002065 S
015 C012065 BANGKOK
015 D012065 THAILAND
015 E042065 X
015 A002066 CHASE MANHATTAN BANK, N.A., ISTANBUL
015 B002066 S
015 C012066 ISTANBUL
015 D012066 TURKEY
015 E042066 X
015 A002067 CHASE MANHATTAN BANK, N.A., LONDON
015 B002067 S
015 C012067 LONDON
015 D012067 UNITED KINGDOM
015 E042067 X
015 A002068 CHASE MANHATTAN BANK, NEW YORK
015 B002068 C
015 C012068 NEW YORK
015 C022068 NY
015 C032068 10286
015 E012068 X
015 A002069 BANKBOSTON, N.A. (MONTEVIDEO BRANCH)
015 B002069 S
015 C012069 MONTEVIDEO
015 D012069 URUGUAY
015 E042069 X
015 A002070 CITIBANK, N.A., CARACAS
015 B002070 S
015 C012070 CARACAS
015 D012070 VENEZUELA
015 E042070 X
015 A002071 BARCLAYS BANK OF ZAMBIA
015 B002071 S
<PAGE> PAGE 150
015 C012071 LUSAKA
015 D012071 ZAMBIA
015 E042071 X
015 A002072 BARCLAYS BANK OF ZIMBABWE
015 B002072 S
015 C012072 HARARE
015 D012072 ZIMBABWE
015 E042072 X
024 002000 Y
025 A002001 CREDIT SUISSE GROUP, REG.
025 B002001 13-5659485
025 C002001 E
025 D002001 1218
025 A002002 HSBC HOLDINGS, PLC
025 B002002 13-2650272
025 C002002 E
025 D002002 70
025 A002003 MORGAN STANLEY, DEAN WITTER DISCOVERY & CO.
025 B002003 13-2655998
025 C002003 E
025 D002003 9421
025 D002004 0
025 D002005 0
025 D002006 0
025 D002007 0
025 D002008 0
028 A012000 6860
028 A022000 0
028 A032000 0
028 A042000 13585
028 B012000 10239
028 B022000 0
028 B032000 0
028 B042000 9119
028 C012000 13090
028 C022000 0
028 C032000 0
028 C042000 8658
028 D012000 14119
028 D022000 0
028 D032000 0
028 D042000 12411
028 E012000 10687
028 E022000 0
028 E032000 0
028 E042000 13532
028 F012000 11777
028 F022000 93807
028 F032000 0
028 F042000 15095
028 G012000 66772
<PAGE> PAGE 151
028 G022000 93807
028 G032000 0
028 G042000 72400
028 H002000 0
045 002000 Y
046 002000 N
047 002000 Y
048 002000 0.000
048 A012000 100000
048 A022000 1.000
048 B012000 150000
048 B022000 0.900
048 C012000 250000
048 C022000 0.800
048 D012000 0
048 D022000 0.000
048 E012000 0
048 E022000 0.000
048 F012000 0
048 F022000 0.000
048 G012000 0
048 G022000 0.000
048 H012000 0
048 H022000 0.000
048 I012000 0
048 I022000 0.000
048 J012000 0
048 J022000 0.000
048 K012000 500000
048 K022000 0.750
049 002000 N
050 002000 N
051 002000 N
052 002000 N
053 A002000 N
055 A002000 Y
055 B002000 N
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
061 002000 2000
062 A002000 N
062 B002000 0.0
062 C002000 0.0
<PAGE> PAGE 152
062 D002000 0.0
062 E002000 0.0
062 F002000 0.0
062 G002000 0.0
062 H002000 0.0
062 I002000 0.0
062 J002000 0.0
062 K002000 0.0
062 L002000 0.0
062 M002000 0.0
062 N002000 0.0
062 O002000 0.0
062 P002000 0.0
062 Q002000 0.0
062 R002000 0.0
066 A002000 Y
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
<PAGE> PAGE 153
070 M022000 Y
070 N012000 Y
070 N022000 N
070 O012000 N
070 O022000 N
070 P012000 Y
070 P022000 N
070 Q012000 N
070 Q022000 N
070 R012000 N
070 R022000 N
071 A002000 122459
071 B002000 108605
071 C002000 708734
071 D002000 15
072 A002000 6
072 B002000 3066
072 C002000 11836
072 D002000 0
072 E002000 0
072 F002000 3328
072 G002000 0
072 H002000 0
072 I002000 0
072 J002000 169
072 K002000 27
072 L002000 23
072 M002000 1
072 N002000 0
072 O002000 0
072 P002000 0
072 Q002000 0
072 R002000 10
072 S002000 2
072 T002000 0
072 U002000 0
072 V002000 0
072 W002000 0
072 X002000 3560
072 Y002000 0
072 Z002000 11342
072AA002000 48483
072BB002000 6264
072CC012000 11319
072CC022000 0
072DD012000 20207
072DD022000 0
072EE002000 73601
073 A012000 0.4100
073 A022000 0.0000
073 B002000 1.4900
<PAGE> PAGE 154
073 C002000 0.0000
074 A002000 126
074 B002000 94260
074 C002000 0
074 D002000 12617
074 E002000 28574
074 F002000 680317
074 G002000 0
074 H002000 0
074 I002000 0
074 J002000 0
074 K002000 0
074 L002000 2514
074 M002000 0
074 N002000 818408
074 O002000 15
074 P002000 546
074 Q002000 0
074 R012000 0
074 R022000 0
074 R032000 0
074 R042000 150
074 S002000 0
074 T002000 817697
074 U012000 55499
074 U022000 0
074 V012000 14.73
074 V022000 0.00
074 W002000 0.0000
074 X002000 3
074 Y002000 0
075 A002000 0
075 B002000 814704
076 002000 0.00
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 CHASE MANHATTAN BANK, BUENOS AIRES
015 B002101 S
015 C012101 BUENOS AIRES
015 D012101 ARGENTINA
015 E042101 X
<PAGE> PAGE 155
015 A002102 CHASE MANHATTAN BANK AUSTRALIA LIMITED
015 B002102 S
015 C012102 SYDNEY
015 D012102 AUSTRALIA
015 E042102 X
015 A002103 CREDITANSTALT AG, VIENNA
015 B002103 S
015 C012103 VIENNA
015 D012103 AUSTRIA
015 E042103 X
015 A002104 BRITISH BANK OF THE MIDDLE EAST, BAHRAIN
015 B002104 S
015 C012104 MANAMA
015 D012104 BAHRAIN
015 E042104 X
015 A002105 STANDARD CHARTERED BANK, DHAKA
015 B002105 S
015 C012105 DHAKA
015 D012105 BANGLADESH
015 E042105 X
015 A002106 GENERALE BANK
015 B002106 S
015 C012106 BRUSSELS
015 D012106 BELGIUM
015 E042106 X
015 A002107 BANK OF BERMUDA LIMITED
015 B002107 S
015 C012107 HAMILTON
015 D012107 BERMUDA
015 E042107 X
015 A002108 BARCLAYS BANK OF BOTSWANA LTD.
015 B002108 S
015 C012108 GABORONE
015 D012108 BOTSWANA
015 E042108 X
015 A002109 CITIBANK, N.A., SAO PAULO
015 B002109 S
015 C012109 SAO PAULO
015 D012109 BRAZIL
015 E042109 X
015 A002110 ROYAL BANK OF CANADA/CANADA TRUST
015 B002110 S
015 C012110 TORONTO
015 D012110 CANADA
015 E042110 X
015 A002111 HONGKONG & SHANGHAI BANKING CORP. LTD., SHA
015 B002111 S
015 C012111 SHANGHAI
015 D012111 CHINA
015 E042111 X
015 A002112 HONGKONG & SHANGHAI BANKING CORP. LTD., SHE
<PAGE> PAGE 156
015 B002112 S
015 C012112 SHENZHEN
015 D012112 CHINA
015 E042112 X
015 A002113 PRIVREDNA BANKA ZAGREB D.D.
015 B002113 S
015 C012113 ZAGREB
015 D012113 CROATIA
015 E042113 X
015 A002114 BARCLAYS BANK PLC, NICOSIA
015 B002114 S
015 C012114 CYPRUS
015 D012114 CYPRUS
015 E042114 X
015 A002115 CESKOSLOVENSKA OBCHODNI BANKA, A.S. ("CSOB
015 B002115 S
015 C012115 PRAGUE
015 D012115 CZECH REPUBLIC
015 E042115 X
015 A002116 DEN DANSKE BANK, COPENHAGEN
015 B002116 S
015 C012116 COPENHAGEN
015 D012116 DENMARK
015 E042116 X
015 A002117 CITIBANK, N.A., QUITO
015 B002117 S
015 C012117 QUITO
015 D012117 ECUADOR
015 E042117 X
015 A002118 NATIONAL BANK OF EGYPT
015 B002118 S
015 C012118 CAIRO
015 D012118 EGYPT
015 E042118 X
015 A002119 EUROMARKET - FIRST CHICAGO, LONDON
015 B002119 S
015 C012119 LONDON
015 D012119 UNITED KINGDOM
015 E042119 X
015 A002120 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B002120 S
015 C012120 LUXEMBOURG CITY
015 D012120 LUXEMBOURG
015 E042120 X
015 A002121 EUROBONDS - EUROCLEAR, BRUSSELS
015 B002121 S
015 C012121 BRUSSELS
015 D012121 BELGIUM
015 E042121 X
015 A002122 MERITA BANK LTD., HELSINKI
015 B002122 S
<PAGE> PAGE 157
015 C012122 HELSINKI
015 D012122 FINLAND
015 E042122 X
015 A002123 BANQUE PARIBAS, PARIS
015 B002123 S
015 C012123 PARIS
015 D012123 FRANCE
015 E042123 X
015 A002124 DRESDNER BANK AG, FRANKFURT
015 B002124 S
015 C012124 FRANKFURT
015 D012124 GERMANY
015 E042124 X
015 A002125 BARCLAYS BANK OF GHANA LTD., ACCRA
015 B002125 S
015 C012125 ACCRA
015 D012125 GHANA
015 E042125 X
015 A002126 BARCLAYS BANK PLC, ATHENS
015 B002126 S
015 C012126 ATHENS
015 D012126 GREECE
015 E042126 X
015 A002127 CHASE MANHATTAN BANK, N.A., HONG KONG
015 B002127 S
015 C012127 HONG KONG
015 D012127 HONG KONG
015 E042127 X
015 A002128 CITIBANK BUDAPEST RT.
015 B002128 S
015 C012128 BUDAPEST
015 D012128 HUNGARY
015 E042128 X
015 A002129 HONGKONG & SHANGHAI BANKING CORP. LTD., BOM
015 B002129 S
015 C012129 BOMBAY
015 D012129 INDIA
015 E042129 X
015 A002130 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B002130 S
015 C012130 JAKARTA
015 D012130 INDONESIA
015 E042130 X
015 A002131 BANK OF IRELAND, DUBLIN
015 B002131 S
015 C012131 DUBLIN
015 D012131 IRELAND
015 E042131 X
015 A002132 BANK LEUMI LE-ISRAEL B.M., TEL AVIV
015 B002132 S
015 C012132 TEL AVIV
<PAGE> PAGE 158
015 D012132 ISRAEL
015 E042132 X
015 A002133 BANQUE PARIBAS, MILAN
015 B002133 S
015 C012133 MILAN
015 D012133 ITALY
015 E042133 X
015 A002134 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B002134 S
015 C012134 ABIDJAN
015 D012134 IVORY COAST
015 E042134 X
015 A002135 FUJI BANK, LTD., TOKYO
015 B002135 S
015 C012135 TOKYO
015 D012135 JAPAN
015 E042135 X
015 A002136 BARCLAYS BANK OF KENYA, NAIROBI
015 B002136 S
015 C012136 NAIROBI
015 D012136 KENYA
015 E042136 X
015 A002137 BRITISH BANK OF THE MIDDLE EAST, LEBANON
015 B002137 S
015 C012137 BEIRUT
015 D012137 LEBANON
015 E042137 X
015 A002138 BANQUE GENERALE DU LUXEMBOURG
015 B002138 S
015 C012138 LUXEMBOURG CITY
015 D012138 LUXEMBOURG
015 E042138 X
015 A002139 CHASE MANHATTAN BANK BERHAD, KUALA LUMPUR
015 B002139 S
015 C012139 KUALA LUMPUR
015 D012139 MALAYSIA
015 E042139 X
015 A002140 HONGKONG & SHANGHAI BANKING CORP. LTD. CURE
015 B002140 S
015 C012140 CUREPIPE
015 D012140 MAURITIUS
015 E042140 X
015 A002141 CHASE MANHATTAN BANK, S.A., MEXICO
015 B002141 S
015 C012141 MEXICO CITY
015 D012141 MEXICO
015 E042141 X
015 A002142 BANQUE COMMERCIALE DU MAROC, CASABLANCA
015 B002142 S
015 C012142 CASABLANCA
015 D012142 MOROCCO
<PAGE> PAGE 159
015 E042142 X
015 A002143 STANDARD BANK NAMIBIA LIMITED
015 B002143 S
015 C012143 WINDHOEK
015 D012143 NAMIBIA
015 E042143 X
015 A002144 ABN AMRO NV, DE BREDA
015 B002144 S
015 C012144 AMSTERDAM
015 D012144 NETHERLANDS
015 E042144 X
015 A002145 NATIONAL NOMINEES LIMITED, AUCKLAND
015 B002145 S
015 C012145 AUCKLAND
015 D012145 NEW ZEALAND
015 E042145 X
015 A002146 DEN NORSKE BANK AS, OSLO
015 B002146 S
015 C012146 OSLO
015 D012146 NORWAY
015 E042146 X
015 A002147 BRITISH BANK OF THE MIDDLE EAST, OMAN
015 B002147 S
015 C012147 MUSCAT
015 D012147 OMAN
015 E042147 X
015 A002148 DEUTSCHE BANK, KARACHI
015 B002148 S
015 C012148 KARACHI
015 D012148 PAKISTAN
015 E042148 X
015 A002149 CITIBANK, N.A., LIMA
015 B002149 S
015 C012149 LIMA
015 D012149 PERU
015 E042149 X
015 A002150 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B002150 S
015 C012150 MANILA
015 D012150 PHILIPPINES
015 E042150 X
015 A002151 BANK HANDLOWY W. WARSAWIE, S.S., WARSAW
015 B002151 S
015 C012151 WARSAW
015 D012151 POLAND
015 E042151 X
015 A002152 BANCO ESPIRITO SANTO & COMERCIAL DE LISBOA, L
015 B002152 S
015 C012152 LISBON
015 D012152 PORTUGAL
015 E042152 X
<PAGE> PAGE 160
015 A002153 ING BANK (ROMANIA)
015 B002153 S
015 C012153 BUCHAREST
015 D012153 ROMANIA
015 E042153 X
015 A002154 CHASE MANHATTAN BANK INTERNATIONAL, MOSCOW
015 B002154 S
015 C012154 MOSCOW
015 D012154 RUSSIA
015 E042154 X
015 A002155 STANDARD CHARTERED BANK, SINGAPORE
015 B002155 S
015 C012155 SINGAPORE
015 D012155 SINGAPORE
015 E042155 X
015 A002156 CESKOSLOVENSKA OBCHODNI BANKA, A.S., BRATISLA
015 B002156 S
015 C012156 BRATISLAVA
015 D012156 SLOVAKIA
015 E042156 X
015 A002157 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B002157 S
015 C012157 JOHANNESBURG
015 D012157 SOUTH AFRICA
015 E042157 X
015 A002158 HONGKONG & SHANGHAI BANKING CORP. LTD., SEO
015 B002158 S
015 C012158 SEOUL
015 D012158 SOUTH KOREA
015 E042158 X
015 A002159 CHASE MANHATTAN BANK, N.A., MADRID
015 B002159 S
015 C012159 MADRID
015 D012159 SPAIN
015 E042159 X
015 A002160 HONGKONG & SHANGHAI BANKING CORP., COLOMB
015 B002160 S
015 C012160 COLOMBO
015 D012160 SRI LANKA
015 E042160 X
015 A002161 STANBIC BANK SWAZILAND LIMITED
015 B002161 S
015 C012161 MBABANE
015 D012161 SWAZILAND
015 E042161 X
015 A002162 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B002162 S
015 C012162 STOCKHOLM
015 D012162 SWEDEN
015 E042162 X
015 A002163 UNION BANK OF SWITZERLAND, ZURICH
<PAGE> PAGE 161
015 B002163 S
015 C012163 ZURICH
015 D012163 SWITZERLAND
015 E042163 X
015 A002164 CAHSE MANHATTAN BANK, N.A., BANGKOK
015 B002164 S
015 C012164 BANGKOK
015 D012164 THAILAND
015 E042164 X
015 A002165 CHASE MANHATTAN BANK, N.A., ISTANBUL
015 B002165 S
015 C012165 ISTANBUL
015 D012165 TURKEY
015 E042165 X
015 A002166 CHASE MANHATTAN BANK, N.A., LONDON
015 B002166 S
015 C012166 LONDON
015 D012166 UNITED KINGDOM
015 E042166 X
015 A002167 CHASE MANHATTAN BANK, NEW YORK
015 B002167 C
015 C012167 NEW YORK
015 C022167 NY
015 C032167 10286
015 E012167 X
015 A002168 BANKBOSTON, N.A. (MONTEVIDEO BRANCH)
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015 C012168 MONTEVIDEO
015 D012168 URUGUAY
015 E042168 X
015 A002169 CITIBANK, N.A., CARACAS
015 B002169 S
015 C012169 CARACAS
015 D012169 VENEZUELA
015 E042169 X
015 A002170 BARCLAYS BANK OF ZAMBIA
015 B002170 S
015 C012170 LUSAKA
015 D012170 ZAMBIA
015 E042170 X
024 002100 Y
025 A002101 CREDIT SUISSE GROUP
025 B002101 13-5659485
025 C002101 E
025 D002101 909
025 A002102 MERRILL LYNCH & CO.
025 B002102 13-5674085
025 C002102 E
025 D002102 563
025 A002103 MORGAN STANLEY, DEAN WITTER DISCOVERY & CO.
025 B002103 13-2655998
<PAGE> PAGE 162
025 C002103 E
025 D002103 822
025 D002104 0
025 D002105 0
025 D002106 0
025 D002107 0
025 D002108 0
028 A012100 570
028 A022100 0
028 A032100 0
028 A042100 1174
028 B012100 -217
028 B022100 0
028 B032100 0
028 B042100 755
028 C012100 1304
028 C022100 0
028 C032100 0
028 C042100 898
028 D012100 2036
028 D022100 0
028 D032100 0
028 D042100 1049
028 E012100 -239
028 E022100 0
028 E032100 0
028 E042100 788
028 F012100 1211
028 F022100 7169
028 F032100 0
028 F042100 752
028 G012100 4665
028 G022100 7169
028 G032100 0
028 G042100 5416
028 H002100 0
045 002100 Y
046 002100 N
047 002100 Y
048 002100 0.000
048 A012100 200000
048 A022100 0.650
048 B012100 1100000
048 B022100 0.585
048 C012100 0
048 C022100 0.000
048 D012100 0
048 D022100 0.000
048 E012100 0
048 E022100 0.000
048 F012100 0
<PAGE> PAGE 163
048 F022100 0.000
048 G012100 0
048 G022100 0.000
048 H012100 0
048 H022100 0.000
048 I012100 0
048 I022100 0.000
048 J012100 0
048 J022100 0.000
048 K012100 1300000
048 K022100 0.520
049 002100 N
050 002100 N
051 002100 N
052 002100 N
053 A002100 N
055 A002100 N
055 B002100 N
056 002100 Y
057 002100 N
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
062 A002100 N
062 B002100 0.0
062 C002100 0.0
062 D002100 0.0
062 E002100 0.0
062 F002100 0.0
062 G002100 0.0
062 H002100 0.0
062 I002100 0.0
062 J002100 0.0
062 K002100 0.0
062 L002100 0.0
062 M002100 0.0
062 N002100 0.0
062 O002100 0.0
062 P002100 0.0
062 Q002100 0.0
062 R002100 0.0
066 A002100 Y
066 B002100 N
066 C002100 N
066 D002100 N
<PAGE> PAGE 164
066 E002100 Y
066 F002100 N
066 G002100 N
067 002100 Y
068 A002100 N
068 B002100 Y
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
071 A002100 24383
071 B002100 19772
071 C002100 75471
071 D002100 26
072 A002100 6
072 B002100 1427
072 C002100 1096
072 D002100 0
<PAGE> PAGE 165
072 E002100 0
072 F002100 311
072 G002100 72
072 H002100 0
072 I002100 0
072 J002100 2
072 K002100 3
072 L002100 2
072 M002100 1
072 N002100 0
072 O002100 0
072 P002100 0
072 Q002100 0
072 R002100 2
072 S002100 0
072 T002100 0
072 U002100 0
072 V002100 0
072 W002100 0
072 X002100 393
072 Y002100 0
072 Z002100 2130
072AA002100 4969
072BB002100 1218
072CC012100 0
072CC022100 3352
072DD012100 3275
072DD022100 0
072EE002100 3894
073 A012100 0.4800
073 A022100 0.0000
073 B002100 0.5800
073 C002100 0.0000
074 A002100 835
074 B002100 7885
074 C002100 0
074 D002100 27687
074 E002100 3025
074 F002100 55750
074 G002100 0
074 H002100 0
074 I002100 0
074 J002100 48
074 K002100 0
074 L002100 895
074 M002100 54
074 N002100 96179
074 O002100 833
074 P002100 62
074 Q002100 0
074 R012100 0
<PAGE> PAGE 166
074 R022100 0
074 R032100 0
074 R042100 103
074 S002100 0
074 T002100 95181
074 U012100 7304
074 U022100 0
074 V012100 13.03
074 V022100 0.00
074 W002100 0.0000
074 X002100 3
074 Y002100 0
075 A002100 0
075 B002100 96570
076 002100 0.00
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 BANKBOSTON, BUENOS AIRES
015 B002201 S
015 C012201 BUENOS AIRES
015 D012201 ARGENTINA
015 E042201 X
015 A002202 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B002202 S
015 C012202 MELBOURNE
015 D012202 AUSTRALIA
015 E042202 X
015 A002203 CREDITANSTALT AG, VIENNA
015 B002203 S
015 C012203 VIENNA
015 D012203 AUSTRIA
015 E042203 X
015 A002204 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B002204 S
015 C012204 BRUSSELS
015 D012204 BELGIUM
015 E042204 X
015 A002205 ROYAL BANK OF CANADA, TORONTO
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015 C012205 MONTREAL
015 D012205 CANADA
015 E042205 X
015 A002206 DEN DANSKE BANK, COPENHAGEN
015 B002206 S
015 C012206 COPENHAGEN
015 D012206 DENMARK
<PAGE> PAGE 167
015 E042206 X
015 A002207 EUROMARKET - FIRST CHICAGO, LONDON
015 B002207 S
015 C012207 LONDON
015 D012207 UNITED KINGDOM
015 E042207 X
015 A002208 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
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015 C012208 LUXEMBOURG CITY
015 D012208 LUXEMBOURG
015 E042208 X
015 A002209 EUROBONDS - EUROCLEAR, BRUSSELS
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015 C012209 BRUSSELS
015 D012209 BELGIUM
015 E042209 X
015 A002210 MERITA BANK LTD., HELSINKI
015 B002210 S
015 C012210 HELSINKI
015 D012210 FINLAND
015 E042210 X
015 A002211 BANQUE PARIBAS, PARIS
015 B002211 S
015 C012211 PARIS
015 D012211 FRANCE
015 E042211 X
015 A002212 DRESDNER BANK AG, FRANKFURT
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015 C012212 FRANKFURT/MAIN
015 D012212 GERMANY
015 E042212 X
015 A002213 HONGKONG & SHANGHAI BANKING CORP., HONGKO
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015 C012213 HONG KONG
015 D012213 HONG KONG
015 E042213 X
015 A002214 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B002214 S
015 C012214 JAKARTA
015 D012214 INDONESIA
015 E042214 X
015 A002215 ALLIED IRISH BANKS, PLC
015 B002215 S
015 C012215 DUBLIN
015 D012215 IRELAND
015 E042215 X
015 A002216 BANK OF TOKYO - MITSUBISHI LIMITED
015 B002216 S
015 C012216 TOKYO
015 D012216 JAPAN
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<PAGE> PAGE 168
015 A002217 BANQUE INTERNATIONALE A LUXEMBOURG
015 B002217 S
015 C012217 LUXEMBOURG CITY
015 D012217 LUXEMBOURG
015 E042217 X
015 A002218 HONGKONG BANK MALAYSIA BERHAD
015 B002218 S
015 C012218 KUALA LUMPUR
015 D012218 MALAYSIA
015 E042218 X
015 A002219 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B002219 S
015 C012219 MEXICO CITY
015 D012219 MEXICO
015 E042219 X
015 A002220 MEES PIERSON N.V. (NETHERLANDS)
015 B002220 S
015 C012220 AMSTERDAM
015 D012220 NETHERLANDS
015 E042220 X
015 A002221 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B002221 S
015 C012221 WELLINGTON
015 D012221 NEW ZEALAND
015 E042221 X
015 A002222 STANDARD CHARTERED BANK, KARACHI
015 B002222 S
015 C012222 KARACHI
015 D012222 PAKISTAN
015 E042222 X
015 A002223 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B002223 S
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015 D012223 PHILIPPINES
015 E042223 X
015 A002224 BANCO COMERCIAL PORTUGUES
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015 C012224 LISBON
015 D012224 PORTUGAL
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015 A002225 UNITED OVERSEAS BANK LTD.
015 B002225 S
015 C012225 SINGAPORE
015 D012225 SINGAPORE
015 E042225 X
015 A002226 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
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015 C012226 JOHANNESBURG
015 D012226 SOUTH AFRICA
015 E042226 X
015 A002227 BANCO BILBAO VIZCAYA, MADRID
<PAGE> PAGE 169
015 B002227 S
015 C012227 MADRID
015 D012227 SPAIN
015 E042227 X
015 A002228 STANDARD CHARTERED BANK, COLOMBO
015 B002228 S
015 C012228 COLOMBO
015 D012228 SRI LANKA
015 E042228 X
015 A002229 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B002229 S
015 C012229 STOCKHOLM
015 D012229 SWEDEN
015 E042229 X
015 A002230 UNION BANK OF SWITZERLAND, ZURICH
015 B002230 S
015 C012230 ZURICH
015 D012230 SWITZERLAND
015 E042230 X
015 A002231 SIAM COMMERCIAL BANK
015 B002231 S
015 C012231 BANGKOK
015 D012231 THAILAND
015 E042231 X
015 A002232 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B002232 S
015 C012232 ISTANBUL
015 D012232 TURKEY
015 E042232 X
015 A002233 BANK OF NEW YORK, LONDON
015 B002233 S
015 C012233 LONDON
015 D012233 UNITED KINGDOM
015 E042233 X
015 A002234 BANK OF NEW YORK
015 B002234 C
015 C012234 NEW YORK
015 C022234 NY
015 C032234 10286
015 E012234 X
015 A002235 STANBIC BANK ZAMBIA LTD.
015 B002235 S
015 C012235 LUSAKA
015 D012235 ZAMBIA
015 E042235 X
015 A002236 STANBIC BANK ZIMBABWE LTD.
015 B002236 S
015 C012236 HARARE
015 D012236 ZIMBABWE
015 E042236 X
024 002200 N
<PAGE> PAGE 170
028 A012200 8817
028 A022200 0
028 A032200 0
028 A042200 8169
028 B012200 28336
028 B022200 0
028 B032200 0
028 B042200 7125
028 C012200 10283
028 C022200 0
028 C032200 0
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028 D012200 13471
028 D022200 0
028 D032200 0
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028 E012200 10221
028 E022200 0
028 E032200 0
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028 F032200 0
028 F042200 6365
028 G012200 89615
028 G022200 26056
028 G032200 0
028 G042200 66602
028 H002200 0
045 002200 Y
046 002200 N
047 002200 Y
048 002200 0.000
048 A012200 500000
048 A022200 0.750
048 B012200 500000
048 B022200 0.625
048 C012200 0
048 C022200 0.000
048 D012200 0
048 D022200 0.000
048 E012200 0
048 E022200 0.000
048 F012200 0
048 F022200 0.000
048 G012200 0
048 G022200 0.000
048 H012200 0
048 H022200 0.000
048 I012200 0
048 I022200 0.000
<PAGE> PAGE 171
048 J012200 0
048 J022200 0.000
048 K012200 1000000
048 K022200 0.500
049 002200 N
050 002200 N
051 002200 N
052 002200 N
053 A002200 N
055 A002200 N
055 B002200 N
056 002200 N
057 002200 N
058 A002200 Y
058 B002200 Y
058 C002200 Y
058 D002200 Y
058 E002200 N
059 002200 Y
060 A002200 Y
060 B002200 Y
061 002200 2000
062 A002200 N
062 B002200 0.0
062 C002200 0.0
062 D002200 0.0
062 E002200 0.0
062 F002200 0.0
062 G002200 0.0
062 H002200 0.0
062 I002200 0.0
062 J002200 0.0
062 K002200 0.0
062 L002200 0.0
062 M002200 0.0
062 N002200 0.0
062 O002200 0.0
062 P002200 0.0
062 Q002200 0.0
062 R002200 0.0
066 A002200 Y
066 B002200 N
066 C002200 N
066 D002200 Y
066 E002200 N
066 F002200 N
066 G002200 N
067 002200 N
068 A002200 N
068 B002200 N
069 002200 N
<PAGE> PAGE 172
070 A012200 Y
070 A022200 Y
070 B012200 Y
070 B022200 N
070 C012200 Y
070 C022200 N
070 D012200 Y
070 D022200 N
070 E012200 Y
070 E022200 N
070 F012200 Y
070 F022200 N
070 G012200 Y
070 G022200 N
070 H012200 Y
070 H022200 N
070 I012200 N
070 I022200 N
070 J012200 Y
070 J022200 N
070 K012200 N
070 K022200 N
070 L012200 Y
070 L022200 Y
070 M012200 Y
070 M022200 Y
070 N012200 Y
070 N022200 Y
070 O012200 Y
070 O022200 N
070 P012200 Y
070 P022200 N
070 Q012200 N
070 Q022200 N
070 R012200 N
070 R022200 N
071 A002200 118776
071 B002200 102153
071 C002200 318413
071 D002200 32
072 A002200 6
072 B002200 1040
072 C002200 873
072 D002200 0
072 E002200 0
072 F002200 1305
072 G002200 0
072 H002200 0
072 I002200 0
072 J002200 2
072 K002200 12
<PAGE> PAGE 173
072 L002200 13
072 M002200 1
072 N002200 0
072 O002200 0
072 P002200 0
072 Q002200 0
072 R002200 4
072 S002200 1
072 T002200 0
072 U002200 0
072 V002200 0
072 W002200 2
072 X002200 1340
072 Y002200 0
072 Z002200 573
072AA002200 23764
072BB002200 13470
072CC012200 5163
072CC022200 0
072DD012200 201
072DD022200 0
072EE002200 25855
073 A012200 0.0100
073 A022200 0.0000
073 B002200 1.1900
073 C002200 0.0000
074 A002200 487
074 B002200 50933
074 C002200 0
074 D002200 0
074 E002200 0
074 F002200 319087
074 G002200 0
074 H002200 0
074 I002200 0
074 J002200 3749
074 K002200 0
074 L002200 263
074 M002200 0
074 N002200 374519
074 O002200 1345
074 P002200 208
074 Q002200 0
074 R012200 0
074 R022200 0
074 R032200 0
074 R042200 20463
074 S002200 0
074 T002200 352503
074 U012200 24158
074 U022200 0
<PAGE> PAGE 174
074 V012200 14.59
074 V022200 0.00
074 W002200 0.0000
074 X002200 3
074 Y002200 5464
075 A002200 0
075 B002200 348198
076 002200 0.00
008 A002301 FRANKLIN ADVISERS, INC.
008 B002301 A
008 C002301 801-26292
008 D012301 SAN MATEO
008 D022301 CA
008 D032301 94404
008 D042301 1585
015 A002301 BANKBOSTON, BUENOS AIRES
015 B002301 S
015 C012301 BUENOS AIRES
015 D012301 ARGENTINA
015 E042301 X
015 A002302 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B002302 S
015 C012302 MELBOURNE
015 D012302 AUSTRALIA
015 E042302 X
015 A002303 CREDITANSTALT AG, VIENNA
015 B002303 S
015 C012303 VIENNA
015 D012303 AUSTRIA
015 E042303 X
015 A002304 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B002304 S
015 C012304 BRUSSELS
015 D012304 BELGIUM
015 E042304 X
015 A002305 ROYAL BANK OF CANADA, TORONTO
015 B002305 S
015 C012305 MONTREAL
015 D012305 CANADA
015 E042305 X
015 A002306 DEN DANSKE BANK, COPENHAGEN
015 B002306 S
015 C012306 COPENHAGEN
015 D012306 DENMARK
015 E042306 X
015 A002307 EUROMARKET - FIRST CHICAGO, LONDON
015 B002307 S
015 C012307 LONDON
015 D012307 UNITED KINGDOM
015 E042307 X
015 A002308 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
<PAGE> PAGE 175
015 B002308 S
015 C012308 LUXEMBOURG CITY
015 D012308 LUXEMBOURG
015 E042308 X
015 A002309 EUROBONDS - EUROCLEAR, BRUSSELS
015 B002309 S
015 C012309 BRUSSELS
015 D012309 BELGIUM
015 E042309 X
015 A002310 MERITA BANK LTD., HELSINKI
015 B002310 S
015 C012310 HELSINKI
015 D012310 FINLAND
015 E042310 X
015 A002311 BANQUE PARIBAS, PARIS
015 B002311 S
015 C012311 PARIS
015 D012311 FRANCE
015 E042311 X
015 A002312 DRESDNER BANK AG, FRANKFURT
015 B002312 S
015 C012312 FRANKFURT/MAIN
015 D012312 GERMANY
015 E042312 X
015 A002313 HONGKONG & SHANHAI BANKING CORP., HONGKO
015 B002313 S
015 C012313 HONG KONG
015 D012313 HONG KONG
015 E042313 X
015 A002314 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B002314 S
015 C012314 JAKARTA
015 D012314 INDONESIA
015 E042314 X
015 A002315 ALLIED IRISH BANKS, PLC
015 B002315 S
015 C012315 DUBLIN
015 D012315 IRELAND
015 E042315 X
015 A002316 BANK OF TOKYO - MITSUBISHI LIMITED
015 B002316 S
015 C012316 TOKYO
015 D012316 JAPAN
015 E042316 X
015 A002317 BANQUE INTERNATIONALE A LUXEMBOURG
015 B002317 S
015 C012317 LUXEMBOURG CITY
015 D012317 LUXEMBOURG
015 E042317 X
015 A002318 HONGKONG BANK MALAYSIA BERHAD
015 B002318 S
<PAGE> PAGE 176
015 C012318 KUALA LUMPUR
015 D012318 MALAYSIA
015 E042318 X
015 A002319 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B002319 S
015 C012319 MEXICO CITY
015 D012319 MEXICO
015 E042319 X
015 A002320 MEES PIERSON N.V. (NETHERLANDS)
015 B002320 S
015 C012320 AMSTERDAM
015 D012320 NETHERLANDS
015 E042320 X
015 A002321 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B002321 S
015 C012321 WELLINGTON
015 D012321 NEW ZEALAND
015 E042321 X
015 A002322 STANDARD CHARTERED BANK, KARACHI
015 B002322 S
015 C012322 KARACHI
015 D012322 PAKISTAN
015 E042322 X
015 A002323 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B002323 S
015 C012323 PASIG CITY MANILA
015 D012323 PHILIPPINES
015 E042323 X
015 A002324 BANCO COMERCIAL PORTUGUES
015 B002324 S
015 C012324 LISBON
015 D012324 PORTUGAL
015 E042324 X
015 A002325 UNITED OVERSEAS BANK LTD.
015 B002325 S
015 C012325 SINGAPORE
015 D012325 SINGAPORE
015 E042325 X
015 A002326 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B002326 S
015 C012326 JOHANNESBURG
015 D012326 SOUTH AFRICA
015 E042326 X
015 A002327 BANCO BILBAO VIZCAYA, MADRID
015 B002327 S
015 C012327 MADRID
015 D012327 SPAIN
015 E042327 X
015 A002328 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B002328 S
015 C012328 STOCKHOLM
<PAGE> PAGE 177
015 D012328 SWEDEN
015 E042328 X
015 A002329 UNION BANK OF SWITZERLAND, ZURICH
015 B002329 S
015 C012329 ZURICH
015 D012329 SWITZERLAND
015 E042329 X
015 A002330 SIAM COMMERCIAL BANK
015 B002330 S
015 C012330 BANGKOK
015 D012330 THAILAND
015 E042330 X
015 A002331 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B002331 S
015 C012331 ISTANBUL
015 D012331 TURKEY
015 E042331 X
015 A002332 BANK OF NEW YORK, LONDON
015 B002332 S
015 C012332 LONDON
015 D012332 UNITED KINGDOM
015 E042332 X
015 A002333 BANK OF NEW YORK, NEW YORK
015 B002333 C
015 C012333 NEW YORK
015 C022333 NY
015 C032333 10286
015 E012333 X
015 A002334 STANBIC BANK ZAMBIA LTD.
015 B002334 S
015 C012334 LUSAKA
015 D012334 ZAMBIA
015 E042334 X
015 A002335 STANBIC BANK ZIMBABWE LTD.
015 B002335 S
015 C012335 HARARE
015 D012335 ZIMBABWE
015 E042335 X
024 002300 N
028 A012300 6482
028 A022300 0
028 A032300 0
028 A042300 4358
028 B012300 7095
028 B022300 0
028 B032300 0
028 B042300 1622
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028 C022300 0
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<PAGE> PAGE 178
028 D012300 6452
028 D022300 0
028 D032300 0
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028 G042300 22784
028 H002300 0
045 002300 Y
046 002300 N
047 002300 Y
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048 A022300 0.750
048 B012300 500000
048 B022300 0.625
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048 F022300 0.000
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048 G022300 0.000
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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
055 A002300 N
055 B002300 N
056 002300 N
<PAGE> PAGE 179
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
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062 P002300 0.0
062 Q002300 0.0
062 R002300 0.0
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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
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
<PAGE> PAGE 180
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 N
070 N012300 Y
070 N022300 N
070 O012300 N
070 O022300 N
070 P012300 Y
070 P022300 N
070 Q012300 N
070 Q022300 N
070 R012300 N
070 R022300 N
071 A002300 26243
071 B002300 7012
071 C002300 107138
071 D002300 7
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072 T002300 0
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<PAGE> PAGE 181
072 V002300 0
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072 Z002300 533
072AA002300 1151
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076 002300 0.00
008 A002401 TEMPLETON INVESTMENT COUNSEL, INC.
008 B002401 A
<PAGE> PAGE 182
008 C002401 801-15125
008 D012401 FT. LAUDERDALE
008 D022401 FL
008 D032401 33394
008 D042401 3091
015 A002401 CHASE MANHATTAN BANK, BUENOS AIRES
015 B002401 S
015 C012401 BUENOS AIRES
015 D012401 ARGENTINA
015 E042401 X
015 A002402 CHASE MANHATTAN BANK AUSTRALIA LIMITED
015 B002402 S
015 C012402 SYDNEY
015 D012402 AUSTRALIA
015 E042402 X
015 A002403 CREDITANSTALT AG, VIENNA
015 B002403 S
015 C012403 VIENNA
015 D012403 AUSTRIA
015 E042403 X
015 A002404 BRITISH BANK OF THE MIDDLE EAST, BAHRAIN
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015 C012404 MANAMA
015 D012404 BAHRAIN
015 E042404 X
015 A002405 STANDARD CHARTERED BANK, DHAKA
015 B002405 S
015 C012405 DHAKA
015 D012405 BANGLADESH
015 E042405 X
015 A002406 GENERALE BANK
015 B002406 S
015 C012406 BRUSSELS
015 D012406 BELGIUM
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015 A002407 BANK OF BERMUDA LIMITED
015 B002407 S
015 C012407 HAMILTON
015 D012407 BERMUDA
015 E042407 X
015 A002408 BARCLAYS BANK OF BOTSWANA LTD.
015 B002408 S
015 C012408 GABORONE
015 D012408 BOTSWANA
015 E042408 X
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015 B002409 S
015 C012409 SAO PAULO
015 D012409 BRAZIL
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015 A002410 ROYAL BANK OF CANADA/CANADA TRUST
<PAGE> PAGE 183
015 B002410 S
015 C012410 TORONTO
015 D012410 CANADA
015 E042410 X
015 A002411 HONGKONG & SHANGHAI BANKING CORP. LTD. SHA
015 B002411 S
015 C012411 SHANGHAI
015 D012411 CHINA
015 E042411 X
015 A002412 HONGKONK & SHANGHAI BANKING CORP. LTD., SHE
015 B002412 S
015 C012412 SHENZHEN
015 D012412 CHINA
015 E042412 X
015 A002413 PRIVREDNA BANKA ZAGREB D.D.
015 B002413 S
015 C012413 ZAGREB
015 D012413 CROATIA
015 E042413 X
015 A002414 BARCLAYS BANK PLC, NICOSIA
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015 C012414 CYPRUS
015 D012414 CYPRUS
015 E042414 X
015 A002415 CESKOSLOVENSKA OBCHODNI BANKA, A.S. ("CSOB
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015 C012415 PRAGUE
015 D012415 CZECH REPUBLIC
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015 A002416 DEN DANSKE BANK, COPENHAGEN
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015 D012416 DENMARK
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015 C012417 QUITO
015 D012417 ECUADOR
015 E042417 X
015 A002418 NATIONAL BANK OF EGYPT
015 B002418 S
015 C012418 CAIRO
015 D012418 EGYPT
015 E042418 X
015 A002419 EUROMARKET - FIRST CHICAGO, LONDON
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015 C012419 LONDON
015 D012419 UNITED KINGDOM
015 E042419 X
015 A002420 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
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<PAGE> PAGE 184
015 C012420 LUXEMBOURG CITY
015 D012420 LUXEMBOURG
015 E042420 X
015 A002421 EUROBONDS - EUROCLEAR, BRUSSELS
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015 C012421 BRUSSELS
015 D012421 BELGIUM
015 E042421 X
015 A002422 MERITA BANK LTD., HELSINKI
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015 C012422 HELSINKI
015 D012422 FINLAND
015 E042422 X
015 A002423 BANQUE PARIBAS, PARIS
015 B002423 S
015 C012423 PARIS
015 D012423 FRANCE
015 E042423 X
015 A002424 DRESDNER BANK AG, FRANKFURT
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015 C012424 FRANKFURT
015 D012424 GERMANY
015 E042424 X
015 A002425 BARCLAYS BANK OF GHANA LTD., ACCRA
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015 C012425 ACCRA
015 D012425 GHANA
015 E042425 X
015 A002426 BARCLAYS BANK PLC, ATHENS
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015 C012426 ATHENS
015 D012426 GREECE
015 E042426 X
015 A002427 CHASE MANHATTAN BANK, N.A., HONG KONG
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015 C012427 HONG KONG
015 D012427 HONG KONG
015 E042427 X
015 A002428 CITIBANK BUDAPEST RT.
015 B002428 S
015 C012428 BUDAPEST
015 D012428 HUNGARY
015 E042428 X
015 A002429 HONGKONG & SHANGHAI BANKING CORP. LTD., BOM
015 B002429 S
015 C012429 BOMBAY
015 D012429 INDIA
015 E042429 X
015 A002430 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B002430 S
015 C012430 JAKARTA
<PAGE> PAGE 185
015 D012430 INDONESIA
015 E042430 X
015 A002431 BANK OF IRELAND, DUBLIN
015 B002431 S
015 C012431 DUBLIN
015 D012431 IRELAND
015 E042431 X
015 A002432 BANK LEUMI LE-ISRAEL B.V., TEL AVIV
015 B002432 S
015 C012432 TEL AVIV
015 D012432 ISRAEL
015 E042432 X
015 A002433 BANQUE PARIBAS, MILAN
015 B002433 S
015 C012433 MILAN
015 D012433 ITALY
015 E042433 X
015 A002434 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B002434 S
015 C012434 ABIDJAN
015 D012434 IVORY COAST
015 E042434 X
015 A002435 FUJI BANK, LTD., TOKYO
015 B002435 S
015 C012435 TOKYO
015 D012435 JAPAN
015 E042435 X
015 A002436 BARCLAYS BANK OF KENYA, NAIROBI
015 B002436 S
015 C012436 NAIROBI
015 D012436 KENYA
015 E042436 X
015 A002437 BRITISH BANK OF THE MIDDLE EAST, LEBANON
015 B002437 S
015 C012437 BEIRUT
015 D012437 LEBANON
015 E042437 X
015 A002438 BANQUE GENERALE DU LUXEMBOURG
015 B002438 S
015 C012438 LUXEMBOURG CITY
015 D012438 LUXEMBOURG
015 E042438 X
015 A002439 CHASE MANHATTAN BANK BERHAD, KUALA LUMPUR
015 B002439 S
015 C012439 KUALA LUMPUR
015 D012439 MALAYSIA
015 E042439 X
015 A002440 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B002440 S
015 C012440 MANILA
015 D012440 PHILIPPINES
<PAGE> PAGE 186
015 E042440 X
015 A002441 HONGKONG & SHANGHAI BANKING CORP. LTD. CURE
015 B002441 S
015 C012441 PORT LOUIS
015 D012441 MAURITIUS
015 E042441 X
015 A002442 CHASE MANHATTAN BANK, S.A., MEXICO
015 B002442 S
015 C012442 MEXICO CITY
015 D012442 MEXICO
015 E042442 X
015 A002443 BANQUE COMMERCIALE DU MAROC, CASABLANCA
015 B002443 S
015 C012443 CASABLANCA
015 D012443 MOROCCO
015 E042443 X
015 A002444 STANDARD BANK NAMIBIA LIMITED
015 B002444 S
015 C012444 WINDHOEK
015 D012444 NAMIBIA
015 E042444 X
015 A002445 ABN AMRO NV, DE BREDA
015 B002445 S
015 C012445 AMSTERDAM
015 D012445 NETHERLANDS
015 E042445 X
015 A002446 NATIONAL NOMINEES LIMITED, AUCKLAND
015 B002446 S
015 C012446 AUCKLAND
015 D012446 NEW ZEALAND
015 E042446 X
015 A002447 DEN NORSKE BANK AS, OSLO
015 B002447 S
015 C012447 OSLO
015 D012447 NORWAY
015 E042447 X
015 A002448 BRITISH BANK OF THE MIDDLE EAST, OMAN
015 B002448 S
015 C012448 MUSCAT
015 D012448 OMAN
015 E042448 X
015 A002449 DEUTSCHE BANK, KARACHI
015 B002449 S
015 C012449 KARACHI
015 D012449 PAKISTAN
015 E042449 X
015 A002450 CITIBANK, N.A., LIMA
015 B002450 S
015 C012450 LIMA
015 D012450 PERU
015 E042450 X
<PAGE> PAGE 187
015 A002451 BANK HNADLOWY W. WARSAWIE, S.A., WARSAW
015 B002451 S
015 C012451 WARSAW
015 D012451 POLAND
015 E042451 X
015 A002452 BANCO ESPIRITO SANTA & COMERCIAL DI LISBOA, L
015 B002452 S
015 C012452 LISBON
015 D012452 PORTUGAL
015 E042452 X
015 A002453 ING BANK (ROMANANIA)
015 B002453 S
015 C012453 BUCHAREST
015 D012453 ROMANIA
015 E042453 X
015 A002454 CHASE MANHATTAN BANK INTERNATIONAL, MOSCOW
015 B002454 S
015 C012454 MOSCOW
015 D012454 RUSSIA
015 E042454 X
015 A002455 STANDARD CHARTERED BANK, SINGAPORE
015 B002455 S
015 C012455 SINGAPORE
015 D012455 SINGAPORE
015 E042455 X
015 A002456 CESKOSLOVENSKA OBCHODNI BANKA, A.S., BRATISLA
015 B002456 S
015 C012456 BRATISLAVA
015 D012456 SLOVAKIA
015 E042456 X
015 A002457 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B002457 S
015 C012457 JOHANNESBURG
015 D012457 SOUTH AFRICA
015 E042457 X
015 A002458 HONGKONG & SHANGHAI BANKING CORP. LTD., SEO
015 B002458 S
015 C012458 SEOUL
015 D012458 SOUTH KOREA
015 E042458 X
015 A002459 CAHSE MANHATTAN BANK, N.A., MADRID
015 B002459 S
015 C012459 MADRID
015 D012459 SPAIN
015 E042459 X
015 A002460 HONGKONG & SHANGHAI BANKING CORP., COLOMB
015 B002460 S
015 C012460 COLOMBO
015 D012460 SRI LANKA
015 E042460 X
015 A002461 STANBIC BAK SWAZILAND LIMITED
<PAGE> PAGE 188
015 B002461 S
015 C012461 MBABANE
015 D012461 SWAZILAND
015 E042461 X
015 A002462 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B002462 S
015 C012462 STOCKHOLM
015 D012462 SWEDEN
015 E042462 X
015 A002463 UNION BANK OF SWITZERLAND, ZURICH
015 B002463 S
015 C012463 ZURICH
015 D012463 SWITZERLAND
015 E042463 X
015 A002464 CHASE MANHATTAN BANK, N.A., BANGKOK
015 B002464 S
015 C012464 BANGKOK
015 D012464 THAILAND
015 E042464 X
015 A002465 CHASE MANHATTAN BANK, N.A., ISTANBUL
015 B002465 S
015 C012465 ISTANBUL
015 D012465 TURKEY
015 E042465 X
015 A002466 CHASE MANHATTAN BANK, N.A., LONDON
015 B002466 S
015 C012466 LONDON
015 D012466 UNITED KINGDON
015 E042466 X
015 A002467 CHASE MANHATTAN BANK, NEW YORK
015 B002467 C
015 C012467 NEW YORK
015 C022467 NY
015 C032467 10286
015 E012467 X
015 A002468 BANKBOSTON, N.A. (MONTEVIDEO BRANCH)
015 B002468 S
015 C012468 MONTEVIDEO
015 D012468 URUGUAY
015 E042468 X
015 A002469 CITIBANK, N.A., CARACAS
015 B002469 S
015 C012469 CARACAS
015 D012469 VENEZUELA
015 E042469 X
015 A002470 BARCLAYS BANK OF ZAMBIA
015 B002470 S
015 C012470 LUSAKA
015 D012470 ZAMBIA
015 E042470 X
015 A002471 BARCLAYS BANK OF ZIMBABWE
<PAGE> PAGE 189
015 B002471 S
015 C012471 HARARE
015 D012471 ZIMBABWE
015 E042471 X
024 002400 Y
025 A002401 MORGAN STANLEY GROWTH FUND
025 B002401 13-2655998
025 C002401 E
025 D002401 181
025 D002402 0
025 D002403 0
025 D002404 0
025 D002405 0
025 D002406 0
025 D002407 0
025 D002408 0
028 A012400 986
028 A022400 0
028 A032400 0
028 A042400 638
028 B012400 507
028 B022400 0
028 B032400 0
028 B042400 1712
028 C012400 2142
028 C022400 0
028 C032400 0
028 C042400 636
028 D012400 1368
028 D022400 0
028 D032400 0
028 D042400 2696
028 E012400 1944
028 E022400 0
028 E032400 0
028 E042400 1551
028 F012400 1397
028 F022400 1600
028 F032400 0
028 F042400 523
028 G012400 8344
028 G022400 1600
028 G032400 0
028 G042400 7756
028 H002400 0
045 002400 Y
046 002400 N
047 002400 Y
048 002400 0.000
048 A012400 200000
048 A022400 0.850
<PAGE> PAGE 190
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
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
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
062 J002400 0.0
062 K002400 0.0
062 L002400 0.0
062 M002400 0.0
<PAGE> PAGE 191
062 N002400 0.0
062 O002400 0.0
062 P002400 0.0
062 Q002400 0.0
062 R002400 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
070 O022400 N
070 P012400 Y
070 P022400 N
070 Q012400 N
070 Q022400 N
070 R012400 N
<PAGE> PAGE 192
070 R022400 N
071 A002400 3356
071 B002400 2498
071 C002400 31638
071 D002400 8
072 A002400 6
072 B002400 63
072 C002400 551
072 D002400 0
072 E002400 0
072 F002400 144
072 G002400 25
072 H002400 0
072 I002400 0
072 J002400 12
072 K002400 1
072 L002400 0
072 M002400 1
072 N002400 0
072 O002400 0
072 P002400 0
072 Q002400 0
072 R002400 0
072 S002400 0
072 T002400 0
072 U002400 0
072 V002400 0
072 W002400 0
072 X002400 183
072 Y002400 0
072 Z002400 431
072AA002400 598
072BB002400 1270
072CC012400 0
072CC022400 994
072DD012400 742
072DD022400 0
072EE002400 858
073 A012400 0.2500
073 A022400 0.0000
073 B002400 0.3000
073 C002400 0.0000
074 A002400 0
074 B002400 2128
074 C002400 0
074 D002400 0
074 E002400 1719
074 F002400 29157
074 G002400 0
074 H002400 0
074 I002400 0
<PAGE> PAGE 193
074 J002400 742
074 K002400 0
074 L002400 123
074 M002400 0
074 N002400 33869
074 O002400 290
074 P002400 28
074 Q002400 0
074 R012400 0
074 R022400 0
074 R032400 0
074 R042400 10
074 S002400 0
074 T002400 33541
074 U012400 3129
074 U022400 0
074 V012400 10.72
074 V022400 0.00
074 W002400 0.0000
074 X002400 3
074 Y002400 0
075 A002400 0
075 B002400 34083
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 BANKBOSTON, BUENOS AIRES
015 B002501 S
015 C012501 BUENOS AIRES
015 D012501 ARGENTINA
015 E042501 X
015 A002502 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B002502 S
015 C012502 MELBOURNE
015 D012502 AUSTRALIA
015 E042502 X
015 A002503 CREDITANSTALT AG, VIENNA
015 B002503 S
015 C012503 VIENNA
015 D012503 AUSTRIA
015 E042503 X
015 A002504 BRITISH BANK OF THE MIDDLE EAST, BAHRAIN
015 B002504 S
015 C012504 MANAMA
015 D012504 BAHRAIN
015 E042504 X
015 A002505 STANDARD CHARTERED BANK, DHAKA
<PAGE> PAGE 194
015 B002505 S
015 C012505 DHAKA
015 D012505 BANGLADESH
015 E042505 X
015 A002506 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B002506 S
015 C012506 BRUSSELS
015 D012506 BELGIUM
015 E042506 X
015 A002507 STANBIC BANK OF BOTSWANA, LTD.
015 B002507 S
015 C012507 GABORONE
015 D012507 BOTSWANA
015 E042507 X
015 A002508 BANKBOSTON, SAO PAULO
015 B002508 S
015 C012508 SAO PAULO
015 D012508 BRAZIL
015 E042508 X
015 A002509 ROYAL BANK OF CANADA, TORONTO
015 B002509 S
015 C012509 MONTREAL
015 D012509 CANADA
015 E042509 X
015 A002510 STANDARD CHARTERED BANK (SHANGHAI)
015 B002510 S
015 C012510 HONG KONG
015 D012510 CHINA
015 E042510 X
015 A002511 STANDARD CHARTERED BANK (SHENZHEN)
015 B002511 S
015 C012511 HONG KONG
015 D012511 CHINA
015 E042511 X
015 A002512 BANK OF CYPRUS LTD.
015 B002512 S
015 C012512 NICOSIA
015 D012512 CYPRUS
015 E042512 X
015 A002513 CESKOSLOVENSKA OBCHODNI BANKA, A.S. ("CSOB
015 B002513 S
015 C012513 PRAHA (PRAGUE)
015 D012513 CZECH REPUBLIC
015 E042513 X
015 A002514 DEN DANSKE BANK, COPENHAGEN
015 B002514 S
015 C012514 COPENHAGEN
015 D012514 DENMARK
015 E042514 X
015 A002515 CITIBANK, N.A., QUITO
015 B002515 S
<PAGE> PAGE 195
015 C012515 QUITO
015 D012515 ECUADOR
015 E042515 X
015 A002516 CITIBANK, N.A., CAIRO
015 B002516 S
015 C012516 CAIRO
015 D012516 EGYPT
015 E042516 X
015 A002517 EUROMARKET - FIRST CHICAGO, LONDON
015 B002517 S
015 C012517 LONDON
015 D012517 UNITED KINGDOM
015 E042517 X
015 A002518 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
015 B002518 S
015 C012518 LUXEMBOURG CITY
015 D012518 LUXEMBOURG
015 E042518 X
015 A002519 EUROBONDS - EUROCLEAR, BRUSSELS
015 B002519 S
015 C012519 BRUSSELS
015 D012519 BELGIUM
015 E042519 X
015 A002520 MERITA BANK LTD., HELSINKI
015 B002520 S
015 C012520 HELSINKI
015 D012520 FINLAND
015 E042520 X
015 A002521 BANQUE PARIBAS, PARIS
015 B002521 S
015 C012521 PARIS
015 D012521 FRANCE
015 E042521 X
015 A002522 DRESDNER BANK AG, FRANKFURT
015 B002522 S
015 C012522 FRANKFURT/MAIN
015 D012522 GERMANY
015 E042522 X
015 A002523 MERCHANT BANK (GHANA) LIMITED
015 B002523 S
015 C012523 ACCRA
015 D012523 GHANA
015 E042523 X
015 A002524 NATIONAL BANK OF GREECE SA
015 B002524 S
015 C012524 ATHENS
015 D012524 GREECE
015 E042524 X
015 A002525 HONGKONG & SHANGHAI BANKING CORP., HONG KONG
015 B002525 S
015 C012525 HONG KONG
<PAGE> PAGE 196
015 D012525 HONG KONG
015 E042525 X
015 A002526 CITIBANK BUDAPEST RT.
015 B002526 S
015 C012526 BUDAPEST
015 D012526 HUNGARY
015 E042526 X
015 A002527 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B002527 S
015 C012527 JAKARTA
015 D012527 INDONESIA
015 E042527 X
015 A002528 ALLIED IRISH BANKS, PLC
015 B002528 S
015 C012528 DUBLIN
015 D012528 IRELAND
015 E042528 X
015 A002529 BANK LEUMI LE-ISRAEL B.M., TEL AVIV
015 B002529 S
015 C012529 TEL AVIV
015 D012529 ISRAEL
015 E042529 X
015 A002530 BANCA COMMERCIALE ITALIANA, MILAN
015 B002530 S
015 C012530 MILAN
015 D012530 ITALY
015 E042530 X
015 A002531 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B002531 S
015 C012531 ABIDJAN
015 D012531 IVORY COAST
015 E042531 X
015 A002532 BANK OF TOKYO - MITSUBISHI LIMITED
015 B002532 S
015 C012532 TOKYO
015 D012532 JAPAN
015 E042532 X
015 A002533 STANBIC BANK (KENYA) LTD.
015 B002533 S
015 C012533 NAIROBI
015 D012533 KENYA
015 E042533 X
015 A002534 BANQUE INTERNATIONALE A LUXEMBOURG
015 B002534 S
015 C012534 LUXEMBOURG CITY
015 D012534 LUXEMBOURG
015 E042534 X
015 A002535 HONGKONG BANK MALAYSIA BERHAD
015 B002535 S
015 C012535 KUALA LUMPUR
015 D012535 MALAYSIA
<PAGE> PAGE 197
015 E042535 X
015 A002536 HONGKONG & SHANGHAI BANKING CORP. LTD. CURE
015 B002536 S
015 C012536 CUREPIPE
015 D012536 MAURITIUS
015 E042536 X
015 A002537 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B002537 S
015 C012537 MEXICO CITY
015 D012537 MEXICO
015 E042537 X
015 A002538 BANQUE COMMERCIALE DU MAROC, CASABLANCA
015 B002538 S
015 C012538 CASABLANCA
015 D012538 MOROCCO
015 E042538 X
015 A002539 STANBIC BANK (NAMIBIA) LTD.
015 B002539 S
015 C012539 WINDHOEK
015 D012539 NAMIBIA
015 E042539 X
015 A002540 MEES PIERSON N.V. (NETHERLANDS)
015 B002540 S
015 C012540 AMSTERDAM
015 D012540 NETHERLANDS
015 E042540 X
015 A002541 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B002541 S
015 C012541 WELLINGTON
015 D012541 NEW ZEALAND
015 E042541 X
015 A002542 DEN NORSKE BANK AS, OSLO
015 B002542 S
015 C012542 OSLO
015 D012542 NORWAY
015 E042542 X
015 A002543 BRITISH BANK OF THE MIDDLE EAST, OMAN
015 B002543 S
015 C012543 MUSCAT
015 D012543 OMAN
015 E042543 X
015 A002544 STANDARD CHARTERED BANK, KARACHI
015 B002544 S
015 C012544 KARACHI
015 D012544 PAKISTAN
015 E042544 X
015 A002545 CITIBANK, N.A., LIMA
015 B002545 S
015 C012545 LIMA
015 D012545 PERU
015 E042545 X
<PAGE> PAGE 198
015 A002546 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B002546 S
015 C012546 PASIG CITY MANILA
015 D012546 PHILIPPINES
015 E042546 X
015 A002547 BANK HANDLOWY W. WARSAWIE, S.A., WARSAW
015 B002547 S
015 C012547 WARSAW
015 D012547 POLAND
015 E042547 X
015 A002548 BANCO COMERCIAL PORTUGUES
015 B002548 S
015 C012548 LISBON
015 D012548 PORTUGAL
015 E042548 X
015 A002549 CREDIT SUISSE FIRST BOSTON (MOSCOW) LTD.
015 B002549 S
015 C012549 MOSCOW
015 D012549 RUSSIA
015 E042549 X
015 A002550 UNITED OVERSEAS BANK LTD.
015 B002550 S
015 C012550 SINGAPORE
015 D012550 SINGAPORE
015 E042550 X
015 A002551 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B002551 S
015 C012551 JOHANNESBURG
015 D012551 SOUTH AFRICA
015 E042551 X
015 A002552 SEOULBANK
015 B002552 S
015 C012552 SEOUL
015 D012552 SOUTH KOREA
015 E042552 X
015 A002553 BANCO BILBAO VIZCAYA, MADRID
015 B002553 S
015 C012553 MADRID
015 D012553 SPAIN
015 E042553 X
015 A002554 STANDARD CHARTERED BANK, COLOMBO
015 B002554 S
015 C012554 COLOMBO
015 D012554 SRI LANKA
015 E042554 X
015 A002555 STANBIC BANK SWAZILAND LIMITED
015 B002555 S
015 C012555 MBABANE
015 D012555 SWAZILAND
015 E042555 X
015 A002556 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
<PAGE> PAGE 199
015 B002556 S
015 C012556 STOCKHOLM
015 D012556 SWEDEN
015 E042556 X
015 A002557 UNION BANK OF SWITZERLAND, ZURICH
015 B002557 S
015 C012557 ZURICH
015 D012557 SWITZERLAND
015 E042557 X
015 A002558 SIAM COMMERCIAL BANK
015 B002558 S
015 C012558 BANGKOK
015 D012558 THAILAND
015 E042558 X
015 A002559 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B002559 S
015 C012559 ISTANBUL
015 D012559 TURKEY
015 E042559 X
015 A002560 BANK OF NEW YORK, LONDON
015 B002560 S
015 C012560 LONDON
015 D012560 UNITED KINGDOM
015 E042560 X
015 A002561 BANK OF NEW YORK, NEW YORK
015 B002561 C
015 C012561 NEW YORK
015 C022561 NY
015 C032561 10286
015 E012561 X
015 A002562 BANKBOSTON, N.A. (MONTEVIDEO BRANCH)
015 B002562 S
015 C012562 MONTEVIDEO
015 D012562 URUGUAY
015 E042562 X
015 A002563 CITIBANK, N.A., CARACAS
015 B002563 S
015 C012563 CARACAS
015 D012563 VENEZUELA
015 E042563 X
015 A002564 STANBIC BANK ZAMBIA LTD.
015 B002564 S
015 C012564 LUSAKA
015 D012564 ZAMBIA
015 E042564 X
015 A002565 STANBIC BANK ZIMBABWE LTD.
015 B002565 S
015 C012565 HARARE
015 D012565 ZIMBABWE
015 E042565 X
024 002500 N
<PAGE> PAGE 200
028 A012500 9328
028 A022500 0
028 A032500 0
028 A042500 3085
028 B012500 11167
028 B022500 0
028 B032500 0
028 B042500 2359
028 C012500 10462
028 C022500 0
028 C032500 0
028 C042500 3178
028 D012500 13504
028 D022500 0
028 D032500 0
028 D042500 3788
028 E012500 19073
028 E022500 0
028 E032500 0
028 E042500 6406
028 F012500 13219
028 F022500 6383
028 F032500 0
028 F042500 6473
028 G012500 76753
028 G022500 6383
028 G032500 0
028 G042500 25289
028 H002500 0
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046 002500 N
047 002500 Y
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048 A012500 0
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
048 G012500 0
048 G022500 0.000
048 H012500 0
048 H022500 0.000
048 I012500 0
048 I022500 0.000
<PAGE> PAGE 201
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
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
062 B002500 0.0
062 C002500 0.0
062 D002500 0.0
062 E002500 0.0
062 F002500 0.0
062 G002500 0.0
062 H002500 0.0
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
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
<PAGE> PAGE 202
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
070 O012500 Y
070 O022500 N
070 P012500 Y
070 P022500 N
070 Q012500 Y
070 Q022500 N
070 R012500 Y
070 R022500 N
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071 B002500 59148
071 C002500 198701
071 D002500 30
072 A002500 6
072 B002500 1349
072 C002500 2577
072 D002500 0
072 E002500 0
072 F002500 952
072 G002500 175
072 H002500 0
072 I002500 0
072 J002500 72
072 K002500 3
<PAGE> PAGE 203
072 L002500 7
072 M002500 0
072 N002500 0
072 O002500 0
072 P002500 0
072 Q002500 0
072 R002500 0
072 S002500 0
072 T002500 0
072 U002500 0
072 V002500 0
072 W002500 1
072 X002500 1210
072 Y002500 0
072 Z002500 2716
072AA002500 13342
072BB002500 1496
072CC012500 7593
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072DD012500 3307
072DD022500 0
072EE002500 3076
073 A012500 0.1700
073 A022500 0.0000
073 B002500 0.1500
073 C002500 0.0000
074 A002500 5706
074 B002500 0
074 C002500 25860
074 D002500 7140
074 E002500 1632
074 F002500 232307
074 G002500 0
074 H002500 0
074 I002500 0
074 J002500 4273
074 K002500 0
074 L002500 2194
074 M002500 1257
074 N002500 280369
074 O002500 6262
074 P002500 184
074 Q002500 0
074 R012500 0
074 R022500 689
074 R032500 0
074 R042500 963
074 S002500 0
074 T002500 272271
074 U012500 20692
074 U022500 0
<PAGE> PAGE 204
074 V012500 13.16
074 V022500 0.00
074 W002500 0.0000
074 X002500 3
074 Y002500 0
075 A002500 0
075 B002500 240310
076 002500 0.00
008 A002601 FRANKLIN MUTUAL ADVISERS, INC.
008 B002601 A
008 C002601 801-53068
008 D012601 SHORT HILLS
008 D022601 NJ
008 D032601 07078
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015 B002601 S
015 C012601 BUENOS AIRES
015 D012601 ARGENTINA
015 E042601 X
015 A002602 NATIONAL AUSTRALIA BANK, MELBOURNE
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015 C012602 MELBOURNE
015 D012602 AUSTRALIA
015 E042602 X
015 A002603 CREDITANSTALT AG, VIENNA
015 B002603 S
015 C012603 VIENNA
015 D012603 AUSTRIA
015 E042603 X
015 A002604 BRITISH BANK OF THE MIDDLE EAST, BAHRAIN
015 B002604 S
015 C012604 MANAMA
015 D012604 BAHRAIN
015 E042604 X
015 A002605 STANDARD CHARTERED BANK, DHAKA
015 B002605 S
015 C012605 DHAKA
015 D012605 BANGLADESH
015 E042605 X
015 A002606 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B002606 S
015 C012606 BRUSSELS
015 D012606 BELGIUM
015 E042606 X
015 A002607 STANBIC BANK OF BOTSWANA, LTD.
015 B002607 S
015 C012607 GABORONE
015 D012607 BOTSWANA
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015 A002608 BANKBOSTON, SAO PAULO
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<PAGE> PAGE 205
015 C012608 SAO PAULO
015 D012608 BRAZIL
015 E042608 X
015 A002609 ROYAL BANK OF CANADA, TORONTO
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015 C012609 MONTREAL
015 D012609 CANADA
015 E042609 X
015 A002610 STANDARD CHARTERED BANK (SHANGHAI)
015 B002610 S
015 C012610 HONG KONG
015 D012610 CHINA
015 E042610 X
015 A002611 STANDARD CHARTERED BANK (SHENZHEN)
015 B002611 S
015 C012611 HONG KONG
015 D012611 CHINA
015 E042611 X
015 A002612 BANK OF CYPRUS LTD.
015 B002612 S
015 C012612 NICOSIA
015 D012612 CYPRUS
015 E042612 X
015 A002613 CESKOSLOVENSKA OBCHODNI BANKA, A.S. ("CSOB
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015 C012613 PRAHA (PRAGUE)
015 D012613 CZECH REPUBLIC
015 E042613 X
015 A002614 DEN DANSKE BANK, COPENHAGEN
015 B002614 S
015 C012614 COPENHAGEN
015 D012614 DENMARK
015 E042614 X
015 A002615 CITIBANK, N.A., QUITO
015 B002615 S
015 C012615 QUITO
015 D012615 ECUADOR
015 E042615 X
015 A002616 CITIBANK, N.A., CAIRO
015 B002616 S
015 C012616 CAIRO
015 D012616 EGYPT
015 E042616 X
015 A002617 EUROMARKET - FIRST CHICAGO, LONDON
015 B002617 S
015 C012617 LONDON
015 D012617 UNITED KINGDOM
015 E042617 X
015 A002618 EUROMARKET - CEDEL BANK, S.A., LUXEMBOURG
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<PAGE> PAGE 206
015 D012618 LUXEMBOURG
015 E042618 X
015 A002619 EUROBONDS - EUROCLEAR, BRUSSELS
015 B002619 S
015 C012619 BRUSSELS
015 D012619 BELGIUM
015 E042619 X
015 A002620 MERITA BANK LTD., HELSINKI
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015 C012620 HELSINKI
015 D012620 FINLAND
015 E042620 X
015 A002621 BANQUE PARIBAS, PARIS
015 B002621 S
015 C012621 PARIS
015 D012621 FRANCE
015 E042621 X
015 A002622 DRESDNER BANK AG, FRANKFURT
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015 C012622 FRANKFURT/MAIN
015 D012622 GERMANY
015 E042622 X
015 A002623 MERCHANT BANK (GHANA) LIMITED
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015 C012623 ACCRA
015 D012623 GHANA
015 E042623 X
015 A002624 NATIONAL BANK OF GREECE SA
015 B002624 S
015 C012624 ATHENS
015 D012624 GREECE
015 E042624 X
015 A002625 HONGKONG & SHANGHAI BANKING CORP., HONGKO
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015 C012625 HONG KONG
015 D012625 HONG KONG
015 E042625 X
015 A002626 CITIBANK BUDAPEST RT.
015 B002626 S
015 C012626 BUDAPEST
015 D012626 HUNGARY
015 E042626 X
015 A002627 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
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015 C012627 JAKARTA
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015 E042627 X
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015 B002628 S
015 C012628 DUBLIN
015 D012628 IRELAND
<PAGE> PAGE 207
015 E042628 X
015 A002629 BANK LEUMI LE-ISRAEL B.M., TEL AVIV
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015 C012629 TEL AVIV
015 D012629 ISRAEL
015 E042629 X
015 A002630 BANCA COMMERCIALE ITALIANA, MILAN
015 B002630 S
015 C012630 MILAN
015 D012630 ITALY
015 E042630 X
015 A002631 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B002631 S
015 C012631 ABIDJAN
015 D012631 IVORY COAST
015 E042631 X
015 A002632 BANK OF TOKYO - MITSUBISHI LIMITED
015 B002632 S
015 C012632 TOKYO
015 D012632 JAPAN
015 E042632 X
015 A002633 STANBIC BANK (KENYA) LTD.
015 B002633 S
015 C012633 NAIROBI
015 D012633 KENYA
015 E042633 X
015 A002634 BANQUE INTERNATIONALE A LUXEMBOURG
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015 C012634 LUXEMBOURG CITY
015 D012634 LUXEMBOURG
015 E042634 X
015 A002635 HONGKONG BANK MALAYSIA BERHAD
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015 C012635 KUALA LUMPUR
015 D012635 MALAYSIA
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015 A002636 HONGKONG & SHANGHAI BANKING CORP. LTD. CURE
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015 E042637 X
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015 C012638 CASABLANCA
015 D012638 MOROCCO
015 E042638 X
<PAGE> PAGE 208
015 A002639 STANBIC BANK (NAMIBIA) LTD.
015 B002639 S
015 C012639 WINDHOEK
015 D012639 NAMIBIA
015 E042639 X
015 A002640 MEES PIERSON N.V. (NETHERLANDS)
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015 C012640 AMSTERDAM
015 D012640 NETHERLANDS
015 E042640 X
015 A002641 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
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015 C012641 WELLINGTON
015 D012641 NEW ZEALAND
015 E042641 X
015 A002642 DEN NORSKE BANK AS, OSLO
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015 C012642 OSLO
015 D012642 NORWAY
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015 A002643 BRITISH BANK OF THE MIDDLE EAST, OMAN
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015 C012643 MUSCAT
015 D012643 OMAN
015 E042643 X
015 A002644 STANDARD CHARTERED BANK, KARACHI
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015 C012644 KARACHI
015 D012644 PAKISTAN
015 E042644 X
015 A002645 CITIBANK, N.A., LIMA
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015 C012645 LIMA
015 D012645 PERU
015 E042645 X
015 A002646 HONGKONG & SHANGHAI BANKING CORP., MANILA
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015 C012647 WARSAW
015 D012647 POLAND
015 E042647 X
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015 B002648 S
015 C012648 LISBON
015 D012648 PORTUGAL
015 E042648 X
015 A002649 CREDIT SUISSE FIRST BOSTON (MOSCOW) LTD.
<PAGE> PAGE 209
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015 D012649 RUSSIA
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015 A002650 UNITED OVERSEAS BANK LTD.
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015 C012650 SINGAPORE
015 D012650 SINGAPORE
015 E042650 X
015 A002651 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
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015 C012651 JOHANNESBURG
015 D012651 SOUTH AFRICA
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015 A002652 SEOULBANK
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015 C012652 SEOUL
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015 E042652 X
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015 C012653 MADRID
015 D012653 SPAIN
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015 C012654 COLOMBO
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<PAGE> PAGE 210
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<PAGE> PAGE 211
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048 I022600 0.000
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<PAGE> PAGE 212
050 002600 N
051 002600 N
052 002600 N
053 A002600 N
055 A002600 N
055 B002600 N
056 002600 Y
057 002600 N
058 A002600 Y
058 B002600 Y
058 C002600 Y
058 D002600 Y
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060 A002600 Y
060 B002600 Y
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062 O002600 0.0
062 P002600 0.0
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062 R002600 0.0
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066 C002600 N
066 D002600 N
066 E002600 Y
066 F002600 N
066 G002600 N
067 002600 N
068 A002600 N
068 B002600 N
069 002600 N
070 A012600 Y
070 A022600 Y
070 B012600 Y
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070 C012600 Y
<PAGE> PAGE 213
070 C022600 N
070 D012600 Y
070 D022600 N
070 E012600 Y
070 E022600 N
070 F012600 Y
070 F022600 N
070 G012600 Y
070 G022600 N
070 H012600 Y
070 H022600 N
070 I012600 N
070 I022600 N
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070 J022600 Y
070 K012600 Y
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070 L012600 Y
070 L022600 Y
070 M012600 Y
070 M022600 Y
070 N012600 Y
070 N022600 N
070 O012600 Y
070 O022600 N
070 P012600 Y
070 P022600 N
070 Q012600 Y
070 Q022600 N
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070 R022600 Y
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<PAGE> PAGE 214
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<PAGE> PAGE 215
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<PAGE> PAGE 216
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<PAGE> PAGE 217
015 C012719 LUXEMBOURG CITY
015 D012719 LUXEMBOURG
015 E042719 X
015 A002720 HONGKONG BANK MALAYSIA BERHAD
015 B002720 S
015 C012720 KUALA LUMPUR
015 D012720 MALAYSIA
015 E042720 X
015 A002721 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B002721 S
015 C012721 MEXICO CITY
015 D012721 MEXICO
015 E042721 X
015 A002722 MEES PIERSON N.V. (NETHERLANDS)
015 B002722 S
015 C012722 AMSTERDAM
015 D012722 NETHERLANDS
015 E042722 X
015 A002723 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B002723 S
015 C012723 WELLINGTON
015 D012723 NEW ZEALAND
015 E042723 X
015 A002724 DEN NORSKE BANK AS, OSLO
015 B002724 S
015 C012724 OSLO
015 D012724 NORWAY
015 E042724 X
015 A002725 HONGKONG & SHANGHAI BANKING CORP., MANILA
015 B002725 S
015 C012725 PASIG CITY MANILA
015 D012725 PHILIPPINES
015 E042725 X
015 A002726 BANCO COMERCIAL PORTUGUES
015 B002726 S
015 C012726 LISBON
015 D012726 PORTUGAL
015 E042726 X
015 A002727 UNITED OVERSEAS BANK LTD.
015 B002727 S
015 C012727 SINGAPORE
015 D012727 SINGAPORE
015 E042727 X
015 A002728 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B002728 S
015 C012728 JOHANNESBURG
015 D012728 SOUTH AFRICA
015 E042728 X
015 A002729 BANCO BILBAO VIZCAYA, MADRID
015 B002729 S
015 C012729 MADRID
<PAGE> PAGE 218
015 D012729 SPAIN
015 E042729 X
015 A002730 SKANDINAVISKA ENKILDA BANKEN, STOCKHOLM
015 B002730 S
015 C012730 STOCKHOLM
015 D012730 SWEDEN
015 E042730 X
015 A002731 UNION BANK OF SWITZERLAND, ZURICH
015 B002731 S
015 C012731 ZURICH
015 D012731 SWITZERLAND
015 E042731 X
015 A002732 SIAM COMMERCIAL BANK
015 B002732 S
015 C012732 BANGKOK
015 D012732 THAILAND
015 E042732 X
015 A002733 BANK OF NEW YORK, LONDON
015 B002733 S
015 C012733 LONDON
015 D012733 UNITED KINGDOM
015 E042733 X
015 A002734 BANK OF NEW YORK, NEW YORK
015 B002734 C
015 C012734 NEW YORK
015 C022734 NY
015 C032734 10286
015 E012734 X
015 A002735 STANBIC BANK ZAMBIA LTD.
015 B002735 S
015 C012735 LUSAKA
015 D012735 ZAMBIA
015 E042735 X
015 A002736 STANBIC BANK ZIMBABWE LTD.
015 B002736 S
015 C012736 HARARE
015 D012736 ZIMBABWE
015 E042736 X
024 002700 N
028 A012700 0
028 A022700 0
028 A032700 0
028 A042700 0
028 B012700 0
028 B022700 0
028 B032700 0
028 B042700 0
028 C012700 0
028 C022700 0
028 C032700 0
028 C042700 0
<PAGE> PAGE 219
028 D012700 0
028 D022700 0
028 D032700 0
028 D042700 0
028 E012700 806
028 E022700 0
028 E032700 0
028 E042700 73
028 F012700 1086
028 F022700 0
028 F032700 0
028 F042700 8
028 G012700 1892
028 G022700 0
028 G032700 0
028 G042700 81
028 H002700 0
045 002700 Y
046 002700 N
047 002700 Y
048 002700 0.000
048 A012700 200000
048 A022700 0.600
048 B012700 1100000
048 B022700 0.500
048 C012700 0
048 C022700 0.000
048 D012700 0
048 D022700 0.000
048 E012700 0
048 E022700 0.000
048 F012700 0
048 F022700 0.000
048 G012700 0
048 G022700 0.000
048 H012700 0
048 H022700 0.000
048 I012700 0
048 I022700 0.000
048 J012700 0
048 J022700 0.000
048 K012700 1300000
048 K022700 0.400
049 002700 N
050 002700 N
051 002700 N
052 002700 N
053 A002700 N
055 A002700 N
055 B002700 N
056 002700 N
<PAGE> PAGE 220
057 002700 N
058 A002700 Y
058 B002700 Y
058 C002700 Y
058 D002700 Y
058 E002700 N
059 002700 Y
060 A002700 N
060 B002700 N
061 002700 2000
062 A002700 N
062 B002700 0.0
062 C002700 0.0
062 D002700 0.0
062 E002700 0.0
062 F002700 0.0
062 G002700 0.0
062 H002700 0.0
062 I002700 0.0
062 J002700 0.0
062 K002700 0.0
062 L002700 0.0
062 M002700 0.0
062 N002700 0.0
062 O002700 0.0
062 P002700 0.0
062 Q002700 0.0
062 R002700 0.0
066 A002700 Y
066 B002700 N
066 C002700 Y
066 D002700 N
066 E002700 N
066 F002700 N
066 G002700 N
067 002700 N
068 A002700 N
068 B002700 N
069 002700 N
070 A012700 Y
070 A022700 Y
070 B012700 Y
070 B022700 N
070 C012700 Y
070 C022700 N
070 D012700 Y
070 D022700 N
070 E012700 Y
070 E022700 N
070 F012700 Y
070 F022700 N
<PAGE> PAGE 221
070 G012700 Y
070 G022700 N
070 H012700 Y
070 H022700 N
070 I012700 N
070 I022700 N
070 J012700 Y
070 J022700 N
070 K012700 Y
070 K022700 N
070 L012700 Y
070 L022700 Y
070 M012700 Y
070 M022700 N
070 N012700 Y
070 N022700 N
070 O012700 Y
070 O022700 N
070 P012700 Y
070 P022700 N
070 Q012700 Y
070 Q022700 N
070 R012700 Y
070 R022700 N
071 A002700 1214
071 B002700 31
071 C002700 562
071 D002700 6
072 A002700 6
072 B002700 4
072 C002700 0
072 D002700 0
072 E002700 0
072 F002700 1
072 G002700 0
072 H002700 0
072 I002700 0
072 J002700 3
072 K002700 0
072 L002700 1
072 M002700 0
072 N002700 0
072 O002700 0
072 P002700 0
072 Q002700 0
072 R002700 1
072 S002700 0
072 T002700 0
072 U002700 0
072 V002700 0
072 W002700 1
<PAGE> PAGE 222
072 X002700 7
072 Y002700 0
072 Z002700 -3
072AA002700 2
072BB002700 7
072CC012700 50
072CC022700 0
072DD012700 0
072DD022700 0
072EE002700 0
073 A012700 0.0000
073 A022700 0.0000
073 B002700 0.0000
073 C002700 0.0000
074 A002700 38
074 B002700 904
074 C002700 0
074 D002700 0
074 E002700 0
074 F002700 1227
074 G002700 0
074 H002700 0
074 I002700 0
074 J002700 18
074 K002700 0
074 L002700 0
074 M002700 0
074 N002700 2187
074 O002700 324
074 P002700 5
074 Q002700 0
074 R012700 0
074 R022700 0
074 R032700 0
074 R042700 6
074 S002700 0
074 T002700 1852
074 U012700 184
074 U022700 0
074 V012700 10.09
074 V022700 0.00
074 W002700 0.0000
074 X002700 3
074 Y002700 0
075 A002700 0
075 B002700 1260
076 002700 0.00
008 A002801 FRANKLIN ADVISORY SERVICES, INC.
008 B002801 A
008 C002801 801-51967
008 D012801 FORT LEE
<PAGE> PAGE 223
008 D022801 NJ
008 D032801 07024
015 A002801 BANKBOSTON, BUENOS AIRES
015 B002801 S
015 C012801 BUENOS AIRES
015 D012801 ARGENTINA
015 E042801 X
015 A002802 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B002802 S
015 C012802 MELBOURNE
015 D012802 AUSTRALIA
015 E042802 X
015 A002803 CREDITANSTALT AG, VIENNA
015 B002803 S
015 C012803 VIENNA
015 D012803 AUSTRIA
015 E042803 X
015 A002804 BANQUE BRUXELLES LAMBERT, BELGIUM
015 B002804 S
015 C012804 BRUSSELS
015 D012804 BELGIUM
015 E042804 X
015 A002805 ROYAL BANK OF CANADA, TORONTO
015 B002805 S
015 C012805 MONTREAL
015 D012805 CANADA
015 E042805 X
015 A002806 DEN DANSKE BANK, COPENHAGEN
015 B002806 S
015 C012806 COPENHAGEN
015 D012806 DENMARK
015 E042806 X
015 A002807 EUROMARKET - FIRST CHICAGO, LONDON
015 B002807 S
015 C012807 LONDON
015 D012807 UNITED KINGDOM
015 E042807 X
015 A002808 EUROMARKET - CEDEL BANK S.A., LUXEMBOURG
015 B002808 S
015 C012808 LUXEMBOURG CITY
015 D012808 LUXEMBOURG
015 E042808 X
015 A002809 EUROBONDS - EUROCLEAR, BRUSSELS
015 B002809 S
015 C012809 BRUSSELS
015 D012809 BELGIUM
015 E042809 X
015 A002810 MERITA BANK PLC, HELSINKI
015 B002810 S
015 C012810 HELSINKI
015 D012810 FINLAND
<PAGE> PAGE 224
015 E042810 X
015 A002811 BANQUE PARIBAS, PARIS
015 B002811 S
015 C012811 PARIS
015 D012811 FRANCE
015 E042811 X
015 A002812 DRESDNER BANK AG, FRANKFURT
015 B002812 S
015 C012812 FRANKFURT/MAIN
015 D012812 GERMANY
015 E042812 X
015 A002813 NATIONAL BANK OF GREECE SA
015 B002813 S
015 C012813 ATHENS
015 D012813 GREECE
015 E042813 X
015 A002814 HONGKONG & SHANGHAI BANKING CORP., HONGKONG
015 B002814 S
015 C012814 HONGKONG
015 D012814 HONGKONG
015 E042814 X
015 A002815 HONGKONG & SHANGHAI BANKING CORP. LTD., JAK
015 B002815 S
015 C012815 JAKARTA
015 D012815 INDONESIA
015 E042815 X
015 A002816 ALLIED IRISH BANKS, PLC
015 B002816 S
015 C012816 DUBLIN
015 D012816 IRELAND
015 E042816 X
015 A002817 BANCA COMMERCIALE ITALIANA, MILAN
015 B002817 S
015 C012817 MILAN
015 D012817 ITALY
015 E042817 X
015 A002818 BANK OF TOKYO - MITSUBISHI LIMITED
015 B002818 S
015 C012818 TOKYO
015 D012818 JAPAN
015 E042818 X
015 A002819 BANQUE INTERNATIONALE A LUXEMBOURG
015 B002819 S
015 C012819 LUXEMBOURG CITY
015 D012819 LUXEMBOURG
015 E042819 X
015 A002820 HONGKONG BANK MALAYSIA BERHAD
015 B002820 S
015 C012820 KUALA LUMPUR
015 D012820 MALAYSIA
015 E042820 X
<PAGE> PAGE 225
015 A002821 BANCO NACIONAL DE MEXICO, S.A. (BANAMEX)
015 B002821 S
015 C012821 MEXICO CITY
015 D012821 MEXICO
015 E042821 X
015 A002822 MEES PIERSON N.V. (NETHERLANDS)
015 B002822 S
015 C012822 AMSTERDAM
015 D012822 NETHERLANDS
015 E042822 X
015 A002823 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIM
015 B002823 S
015 C012823 WELLINGTON
015 D012823 NEW ZEALAND
015 E042823 X
015 A002824 DEN NORSKE BANK AS, OSLO
015 B002824 S
015 C012824 OSLO
015 D012824 NORWAY
015 E042824 X
015 A002825 HONGKONG SHANGHAI BANKING CORP., MANILA
015 B002825 S
015 C012825 PASIG CITY MANILA
015 D012825 PHILIPPINES
015 E042825 X
015 A002826 BANCO COMERCIAL PORTUGUES
015 B002826 S
015 C012826 LISBON
015 D012826 PORTUGAL
015 E042826 X
015 A002827 UNITED OVERSEAS BANK LTD.
015 B002827 S
015 C012827 SINGAPORE
015 D012827 SINGAPORE
015 E042827 X
015 A002828 STANDARD BANK OF SOUTH AFRICA LTD., JOHANNESB
015 B002828 S
015 C012828 JOHANNESB
015 D012828 SOUTH AFRICA
015 E042828 X
015 A002829 BANCO BILBAO VIZCAYA, MADRID
015 B002829 S
015 C012829 MADRID
015 D012829 SPAIN
015 E042829 X
015 A002830 SKANDINAVISKA ENKILD BANKEN, STOCKHOLM
015 B002830 S
015 C012830 STOCKHOLM
015 D012830 SWEDEN
015 E042830 X
015 A002831 UNION BANK OF SWITZERLAND, ZURICH
<PAGE> PAGE 226
015 B002831 S
015 C012831 ZURICH
015 D012831 SWITZERLAND
015 E042831 X
015 A002832 SIAM COMMERCIAL BANK
015 B002832 S
015 C012832 BANGKOK
015 D012832 THAILAND
015 E042832 X
015 A002833 OSMANLI BANKASI A.S. (OTTOMAN BANK)
015 B002833 S
015 C012833 ISTANBUL
015 D012833 TURKEY
015 E042833 X
015 A002834 BANK OF NEW YORK, LONDON
015 B002834 S
015 C012834 LONDON
015 D012834 UNITED KINGDOM
015 E042834 X
015 A002835 BANK OF NEW YORK, NEW YORK
015 B002835 C
015 C012835 NEW YORK
015 C022835 NY
015 C032835 10286
015 E012835 X
015 A002836 STANBIC BANK ZAMBIA LTD.
015 B002836 S
015 C012836 LUSAKA
015 D012836 ZAMBIA
015 E042836 X
015 A002837 STANBIC BANK ZIMBABWE LTD.
015 B002837 S
015 C012837 HARARE
015 D012837 ZIMBABWE
015 E042837 X
024 002800 N
028 A012800 0
028 A022800 0
028 A032800 0
028 A042800 0
028 B012800 0
028 B022800 0
028 B032800 0
028 B042800 0
028 C012800 0
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028 C032800 0
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028 D012800 0
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028 D032800 0
<PAGE> PAGE 227
028 D042800 0
028 E012800 1595
028 E022800 0
028 E032800 0
028 E042800 897
028 F012800 1652
028 F022800 0
028 F032800 0
028 F042800 10
028 G012800 3247
028 G022800 0
028 G032800 0
028 G042800 907
028 H002800 0
045 002800 Y
046 002800 N
047 002800 Y
048 002800 0.000
048 A012800 200000
048 A022800 0.600
048 B012800 1100000
048 B022800 0.500
048 C012800 0
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048 G012800 0
048 G022800 0.000
048 H012800 0
048 H022800 0.000
048 I012800 0
048 I022800 0.000
048 J012800 0
048 J022800 0.000
048 K012800 1300000
048 K022800 0.400
049 002800 N
050 002800 N
051 002800 N
052 002800 N
053 A002800 N
055 A002800 Y
055 B002800 N
056 002800 N
057 002800 N
058 A002800 Y
058 B002800 Y
<PAGE> PAGE 228
058 C002800 Y
058 D002800 Y
058 E002800 N
059 002800 Y
060 A002800 N
060 B002800 N
061 002800 2000
062 A002800 N
062 B002800 0.0
062 C002800 0.0
062 D002800 0.0
062 E002800 0.0
062 F002800 0.0
062 G002800 0.0
062 H002800 0.0
062 I002800 0.0
062 J002800 0.0
062 K002800 0.0
062 L002800 0.0
062 M002800 0.0
062 N002800 0.0
062 O002800 0.0
062 P002800 0.0
062 Q002800 0.0
062 R002800 0.0
063 A002800 0
063 B002800 0.0
066 A002800 Y
066 B002800 N
066 C002800 N
066 D002800 N
066 E002800 N
066 F002800 N
066 G002800 Y
067 002800 N
068 A002800 N
068 B002800 N
069 002800 N
070 A012800 Y
070 A022800 Y
070 B012800 Y
070 B022800 N
070 C012800 Y
070 C022800 N
070 D012800 Y
070 D022800 N
070 E012800 Y
070 E022800 N
070 F012800 Y
070 F022800 N
070 G012800 Y
<PAGE> PAGE 229
070 G022800 N
070 H012800 Y
070 H022800 N
070 I012800 N
070 I022800 N
070 J012800 Y
070 J022800 N
070 K012800 Y
070 K022800 N
070 L012800 Y
070 L022800 Y
070 M012800 Y
070 M022800 N
070 N012800 Y
070 N022800 N
070 O012800 Y
070 O022800 N
070 P012800 Y
070 P022800 N
070 Q012800 Y
070 Q022800 N
070 R012800 Y
070 R022800 N
071 A002800 2536
071 B002800 226
071 C002800 1399
071 D002800 16
072 A002800 6
072 B002800 4
072 C002800 1
072 D002800 0
072 E002800 0
072 F002800 1
072 G002800 0
072 H002800 0
072 I002800 0
072 J002800 0
072 K002800 0
072 L002800 0
072 M002800 0
072 N002800 0
072 O002800 0
072 P002800 0
072 Q002800 0
072 R002800 0
072 S002800 0
072 T002800 0
072 U002800 0
072 V002800 0
072 W002800 1
072 X002800 2
<PAGE> PAGE 230
072 Y002800 0
072 Z002800 3
072AA002800 4
072BB002800 12
072CC012800 0
072CC022800 102
072DD012800 0
072DD022800 0
072EE002800 0
073 A012800 0.0000
073 A022800 0.0000
073 B002800 0.0000
073 C002800 0.0000
074 A002800 3
074 B002800 568
074 C002800 0
074 D002800 0
074 E002800 0
074 F002800 2201
074 G002800 0
074 H002800 0
074 I002800 0
074 J002800 1
074 K002800 0
074 L002800 0
074 M002800 0
074 N002800 2773
074 O002800 538
074 P002800 1
074 Q002800 0
074 R012800 0
074 R022800 0
074 R032800 0
074 R042800 1
074 S002800 0
074 T002800 2233
074 U012800 244
074 U022800 0
074 V012800 9.14
074 V022800 0.00
074 W002800 0.0000
074 X002800 1
074 Y002800 0
075 A002800 0
075 B002800 971
076 002800 0.00
SIGNATURE LAURA FERGERSON
TITLE ASST TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 315,321,138
<INVESTMENTS-AT-VALUE> 315,321,138
<RECEIVABLES> 41,500,486
<ASSETS-OTHER> 797
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 356,822,421
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,722,473
<TOTAL-LIABILITIES> 3,722,473
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 353,099,948
<SHARES-COMMON-STOCK> 353,099,948
<SHARES-COMMON-PRIOR> 367,449,139
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 353,099,948
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,684,414
<OTHER-INCOME> 0
<EXPENSES-NET> (776,368)
<NET-INVESTMENT-INCOME> 8,908,046
<REALIZED-GAINS-CURRENT> (371)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 8,907,675
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,907,675)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 304,433,643
<NUMBER-OF-SHARES-REDEEMED> (327,690,594)
<SHARES-REINVESTED> 8,907,760
<NET-CHANGE-IN-ASSETS> (14,349,191)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (900,476)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (950,687)
<AVERAGE-NET-ASSETS> 347,983,484
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> .030
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> (.030)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .450 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED; EXPENSE RATIO EXCLUDING WAIVER .55%
<FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,006,575,751
<INVESTMENTS-AT-VALUE> 1,303,224,399
<RECEIVABLES> 82,906,401
<ASSETS-OTHER> 433,270
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,386,564,070
<PAYABLE-FOR-SECURITIES> 4,421,908
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 564,912
<TOTAL-LIABILITIES> 4,986,820
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,005,457,510
<SHARES-COMMON-STOCK> 69,742,260
<SHARES-COMMON-PRIOR> 63,702,777
<ACCUMULATED-NII-CURRENT> 21,857,299
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 57,610,611
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 296,651,830
<NET-ASSETS> 1,381,577,250
<DIVIDEND-INCOME> 23,562,249
<INTEREST-INCOME> 2,362,497
<OTHER-INCOME> 0
<EXPENSES-NET> (3,381,447)
<NET-INVESTMENT-INCOME> 22,543,299
<REALIZED-GAINS-CURRENT> 57,732,080
<APPREC-INCREASE-CURRENT> (7,660,559)
<NET-CHANGE-FROM-OPS> 72,614,820
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (43,569,458)
<DISTRIBUTIONS-OF-GAINS> (102,500,145)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,747,242
<NUMBER-OF-SHARES-REDEEMED> (6,099,945)
<SHARES-REINVESTED> 7,392,186
<NET-CHANGE-IN-ASSETS> 43,101,124
<ACCUMULATED-NII-PRIOR> 42,883,458
<ACCUMULATED-GAINS-PRIOR> 102,378,676
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3,233,318)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,381,447)
<AVERAGE-NET-ASSETS> 1,393,542,015
<PER-SHARE-NAV-BEGIN> 21.010
<PER-SHARE-NII> .340
<PER-SHARE-GAIN-APPREC> .790
<PER-SHARE-DIVIDEND> (.690)
<PER-SHARE-DISTRIBUTIONS> (1.640)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 19.810
<EXPENSE-RATIO> .480<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 72,236,849
<INVESTMENTS-AT-VALUE> 64,527,037
<RECEIVABLES> 3,937,311
<ASSETS-OTHER> 128,743
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 68,593,091
<PAYABLE-FOR-SECURITIES> 122,627
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,730,506
<TOTAL-LIABILITIES> 2,853,133
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 86,110,197
<SHARES-COMMON-STOCK> 6,315,134
<SHARES-COMMON-PRIOR> 6,564,617
<ACCUMULATED-NII-CURRENT> 427,439
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (13,087,866)
<ACCUM-APPREC-OR-DEPREC> (7,709,812)
<NET-ASSETS> 65,739,958
<DIVIDEND-INCOME> 450,216
<INTEREST-INCOME> 248,415
<OTHER-INCOME> 0
<EXPENSES-NET> (248,909)
<NET-INVESTMENT-INCOME> 449,722
<REALIZED-GAINS-CURRENT> (6,668,480)
<APPREC-INCREASE-CURRENT> 820,542
<NET-CHANGE-FROM-OPS> (5,398,216)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (946,913)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,210,022
<NUMBER-OF-SHARES-REDEEMED> (2,551,349)
<SHARES-REINVESTED> 91,844
<NET-CHANGE-IN-ASSETS> (9,184,352)
<ACCUMULATED-NII-PRIOR> 940,017
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (6,434,773)
<GROSS-ADVISORY-FEES> (228,247)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (248,909)
<AVERAGE-NET-ASSETS> 73,650,872
<PER-SHARE-NAV-BEGIN> 11.41
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> (0.930)
<PER-SHARE-DIVIDEND> (0.150)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.41
<EXPENSE-RATIO> .68<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 292,057,700
<INVESTMENTS-AT-VALUE> 382,611,145
<RECEIVABLES> 9,668,873
<ASSETS-OTHER> 166,718
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 392,446,736
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 471,392
<TOTAL-LIABILITIES> 471,392
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 282,534,628
<SHARES-COMMON-STOCK> 17,133,245
<SHARES-COMMON-PRIOR> 17,207,897
<ACCUMULATED-NII-CURRENT> 7,830,560
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 11,056,711
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 90,553,445
<NET-ASSETS> 391,975,344
<DIVIDEND-INCOME> 9,425,758
<INTEREST-INCOME> 690,435
<OTHER-INCOME> 0
<EXPENSES-NET> (1,110,906)
<NET-INVESTMENT-INCOME> 9,005,287
<REALIZED-GAINS-CURRENT> 11,246,901
<APPREC-INCREASE-CURRENT> (39,746,686)
<NET-CHANGE-FROM-OPS> (19,494,498)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15,362,062)
<DISTRIBUTIONS-OF-GAINS> (9,509,537)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,326,832
<NUMBER-OF-SHARES-REDEEMED> (2,518,807)
<SHARES-REINVESTED> 1,117,323
<NET-CHANGE-IN-ASSETS> (48,578,919)
<ACCUMULATED-NII-PRIOR> 14,187,335
<ACCUMULATED-GAINS-PRIOR> 130,300,131
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,068,763
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,110,906
<AVERAGE-NET-ASSETS> 423,382,168
<PER-SHARE-NAV-BEGIN> 25.600
<PER-SHARE-NII> .570
<PER-SHARE-GAIN-APPREC> (1.770)
<PER-SHARE-DIVIDEND> (.940)
<PER-SHARE-DISTRIBUTIONS> (.580)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.880
<EXPENSE-RATIO> .520
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 05
<NAME> FVF-GLOBAL UTILITIES SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 847,647,901
<INVESTMENTS-AT-VALUE> 1,063,621,448
<RECEIVABLES> 36,106,163
<ASSETS-OTHER> 7,542,226
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,107,269,837
<PAYABLE-FOR-SECURITIES> 15,437,010
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,161,975
<TOTAL-LIABILITIES> 16,598,985
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 817,601,970
<SHARES-COMMON-STOCK> 55,697,057
<SHARES-COMMON-PRIOR> 55,569,232
<ACCUMULATED-NII-CURRENT> 18,899,785
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 38,210,381
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 215,958,716
<NET-ASSETS> 1,090,670,852
<DIVIDEND-INCOME> 20,883,866
<INTEREST-INCOME> 823,414
<OTHER-INCOME> 0
<EXPENSES-NET> (2,755,536)
<NET-INVESTMENT-INCOME> 18,951,744
<REALIZED-GAINS-CURRENT> 38,290,885
<APPREC-INCREASE-CURRENT> 12,535,662
<NET-CHANGE-FROM-OPS> 69,778,291
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (42,481,848)
<DISTRIBUTIONS-OF-GAINS> (61,944,426)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,547,069
<NUMBER-OF-SHARES-REDEEMED> (6,807,596)
<SHARES-REINVESTED> 5,388,352
<NET-CHANGE-IN-ASSETS> (39,233,249)
<ACCUMULATED-NII-PRIOR> 42,429,889
<ACCUMULATED-GAINS-PRIOR> 61,863,922
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,596,838)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (2,755,536)
<AVERAGE-NET-ASSETS> 1,108,252,069
<PER-SHARE-NAV-BEGIN> 20.330
<PER-SHARE-NII> .410
<PER-SHARE-GAIN-APPREC> .890
<PER-SHARE-DIVIDEND> (.830)
<PER-SHARE-DISTRIBUTIONS> (1.220)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.580
<EXPENSE-RATIO> .500<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUEMARK FUNDS JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 06
<NAME> FVF-HIGH INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 485,929,512
<INVESTMENTS-AT-VALUE> 497,728,002
<RECEIVABLES> 19,886,235
<ASSETS-OTHER> 2,563
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 517,616,800
<PAYABLE-FOR-SECURITIES> 2,750,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 232,520
<TOTAL-LIABILITIES> 2,982,520
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 474,149,444
<SHARES-COMMON-STOCK> 37,660,255
<SHARES-COMMON-PRIOR> 34,324,418
<ACCUMULATED-NII-CURRENT> 24,021,958
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,672,930
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 11,789,948
<NET-ASSETS> 514,634,280
<DIVIDEND-INCOME> 186,420
<INTEREST-INCOME> 24,645,986
<OTHER-INCOME> 621,139
<EXPENSES-NET> (1,330,838)
<NET-INVESTMENT-INCOME> 24,122,707
<REALIZED-GAINS-CURRENT> 4,683,615
<APPREC-INCREASE-CURRENT> (9,168,550)
<NET-CHANGE-FROM-OPS> 19,637,772
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (44,113,848)
<DISTRIBUTIONS-OF-GAINS> (2,617,950)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,954,122
<NUMBER-OF-SHARES-REDEEMED> (6,041,860)
<SHARES-REINVESTED> 3,423,575
<NET-CHANGE-IN-ASSETS> 18,598,448
<ACCUMULATED-NII-PRIOR> 44,013,099
<ACCUMULATED-GAINS-PRIOR> 2,607,265
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,270,725)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,330,838)
<AVERAGE-NET-ASSETS> 513,900,509
<PER-SHARE-NAV-BEGIN> 14.450
<PER-SHARE-NII> .630
<PER-SHARE-GAIN-APPREC> (.060)
<PER-SHARE-DIVIDEND> (1.270)
<PER-SHARE-DISTRIBUTIONS> (.080)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 13.670
<EXPENSE-RATIO> .520<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON GLOBAL INCOME SECURITIES FUND JUNE 30, 1998 SEMI-ANNUAL REPORT
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER>07
<NAME> TEMPLETON GLOBAL INCOME SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 166004881
<INVESTMENTS-AT-VALUE> 162242496
<RECEIVABLES> 4742910
<ASSETS-OTHER> 463048
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 167448454
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 466290
<TOTAL-LIABILITIES> 466290
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 169115344
<SHARES-COMMON-STOCK> 13533589
<SHARES-COMMON-PRIOR> 14265198
<ACCUMULATED-NII-CURRENT> 4949623
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (3410263)
<ACCUM-APPREC-OR-DEPREC> (3672540)
<NET-ASSETS> 166982164
<DIVIDEND-INCOME> 243
<INTEREST-INCOME> 6712505
<OTHER-INCOME> 0
<EXPENSES-NET> (556406)
<NET-INVESTMENT-INCOME> 6156342
<REALIZED-GAINS-CURRENT> (233216)
<APPREC-INCREASE-CURRENT> (1105610)
<NET-CHANGE-FROM-OPS> 4817516
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12370027)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 423913
<NUMBER-OF-SHARES-REDEEMED> (2159583)
<SHARES-REINVESTED> 1004061
<NET-CHANGE-IN-ASSETS> (18034010)
<ACCUMULATED-NII-PRIOR> 11163308
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (3177047)
<GROSS-ADVISORY-FEES> (501689)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (556406)
<AVERAGE-NET-ASSETS> 177257029
<PER-SHARE-NAV-BEGIN> 12.97
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> (0.21)
<PER-SHARE-DIVIDEND> (0.98)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.34
<EXPENSE-RATIO> 0.63<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1> EXPENSE RATIO IS ANNUALIZED.
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,156,939,669
<INVESTMENTS-AT-VALUE> 1,281,929,451
<RECEIVABLES> 59,094,848
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,341,024,299
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 646,248
<TOTAL-LIABILITIES> 646,248
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,157,158,362
<SHARES-COMMON-STOCK> 79,517,278
<SHARES-COMMON-PRIOR> 76,595,043
<ACCUMULATED-NII-CURRENT> 45,734,245
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12,616,252
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 124,869,192
<NET-ASSETS> 1,340,378,051
<DIVIDEND-INCOME> 15,694,890
<INTEREST-INCOME> 34,253,211
<OTHER-INCOME> 0
<EXPENSES-NET> (3,460,597)
<NET-INVESTMENT-INCOME> 46,487,504
<REALIZED-GAINS-CURRENT> 12,658,618
<APPREC-INCREASE-CURRENT> (41,046,948)
<NET-CHANGE-FROM-OPS> 18,099,174
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (102,762,929)
<DISTRIBUTIONS-OF-GAINS> (24,268,308)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,217,119
<NUMBER-OF-SHARES-REDEEMED> (7,807,080)
<SHARES-REINVESTED> 7,512,196
<NET-CHANGE-IN-ASSETS> (66,408,568)
<ACCUMULATED-NII-PRIOR> 102,009,670
<ACCUMULATED-GAINS-PRIOR> 24,225,942
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,213,226
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,460,597
<AVERAGE-NET-ASSETS> 1,384,377,339
<PER-SHARE-NAV-BEGIN> 18.370
<PER-SHARE-NII> .660
<PER-SHARE-GAIN-APPREC> (.420)
<PER-SHARE-DIVIDEND> (1.420)
<PER-SHARE-DISTRIBUTIONS> (.330)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.860
<EXPENSE-RATIO> .500<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 10
<NAME> U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 658,442,985
<INVESTMENTS-AT-VALUE> 685,620,805
<RECEIVABLES> 33,536,030
<ASSETS-OTHER> 8,168
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 719,165,003
<PAYABLE-FOR-SECURITIES> 8,512,396
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 981,260
<TOTAL-LIABILITIES> 9,493,656
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 674,219,405
<SHARES-COMMON-STOCK> 52,997,065
<SHARES-COMMON-PRIOR> 54,949,206
<ACCUMULATED-NII-CURRENT> 23,071,559
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (14,797,437)
<ACCUM-APPREC-OR-DEPREC> 27,177,820
<NET-ASSETS> 709,671,347
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 25,019,679
<OTHER-INCOME> 0
<EXPENSES-NET> (1,846,930)
<NET-INVESTMENT-INCOME> 23,172,749
<REALIZED-GAINS-CURRENT> 933,918
<APPREC-INCREASE-CURRENT> 1,494,802
<NET-CHANGE-FROM-OPS> 25,601,469
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (50,958,932)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,111,576
<NUMBER-OF-SHARES-REDEEMED> (8,872,307)
<SHARES-REINVESTED> 3,808,590
<NET-CHANGE-IN-ASSETS> (55,413,094)
<ACCUMULATED-NII-PRIOR> 50,857,741
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (15,731,355)
<GROSS-ADVISORY-FEES> (1,762,160)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,846,930)
<AVERAGE-NET-ASSETS> 734,116,130
<PER-SHARE-NAV-BEGIN> 13.920
<PER-SHARE-NII> 0.540
<PER-SHARE-GAIN-APPREC> (0.040)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (1.030)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.390
<EXPENSE-RATIO> 0.500<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
<FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUEMARK FUNDS JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 12
<NAME> FVF-ZERO COUPON FUND - 2000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 95,148,931
<INVESTMENTS-AT-VALUE> 99,955,342
<RECEIVABLES> 78,044
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 100,033,386
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 144,907
<TOTAL-LIABILITIES> 144,907
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 90,332,452
<SHARES-COMMON-STOCK> 7,018,055
<SHARES-COMMON-PRIOR> 7,375,291
<ACCUMULATED-NII-CURRENT> 3,417,218
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,332,398
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,806,411
<NET-ASSETS> 99,888,479
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,678,530
<OTHER-INCOME> 0
<EXPENSES-NET> (210,977)
<NET-INVESTMENT-INCOME> 3,467,553
<REALIZED-GAINS-CURRENT> 1,333,331
<APPREC-INCREASE-CURRENT> (1,312,997)
<NET-CHANGE-FROM-OPS> 3,487,887
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,809,331)
<DISTRIBUTIONS-OF-GAINS> (1,249,416)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 132,437
<NUMBER-OF-SHARES-REDEEMED> (1,126,715)
<SHARES-REINVESTED> 637,042
<NET-CHANGE-IN-ASSETS> (11,761,972)
<ACCUMULATED-NII-PRIOR> 7,759,277
<ACCUMULATED-GAINS-PRIOR> 1,248,202
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (324,150)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (336,275)
<AVERAGE-NET-ASSETS> 105,757,125
<PER-SHARE-NAV-BEGIN> 15.140
<PER-SHARE-NII> .640
<PER-SHARE-GAIN-APPREC> (.150)
<PER-SHARE-DIVIDEND> (1.210)
<PER-SHARE-DISTRIBUTIONS> (.190)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 14.230
<EXPENSE-RATIO> .400 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1> ANNUALIZED; EXPENSE RATIO EXCLUDING WAIVER .64%
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 67,743,636
<INVESTMENTS-AT-VALUE> 77,936,475
<RECEIVABLES> 311,755
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 78,248,230
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 94,075
<TOTAL-LIABILITIES> 94,075
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 65,402,362
<SHARES-COMMON-STOCK> 4,729,245
<SHARES-COMMON-PRIOR> 4,533,896
<ACCUMULATED-NII-CURRENT> 2,271,686
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 287,268
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,192,839
<NET-ASSETS> 78,154,155
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,429,275
<OTHER-INCOME> 0
<EXPENSES-NET> (152,376)
<NET-INVESTMENT-INCOME> 2,276,899
<REALIZED-GAINS-CURRENT> 288,467
<APPREC-INCREASE-CURRENT> 1,096,350
<NET-CHANGE-FROM-OPS> 3,661,716
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,795,119)
<DISTRIBUTIONS-OF-GAINS> (1,109,296)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 348,695
<NUMBER-OF-SHARES-REDEEMED> (510,540)
<SHARES-REINVESTED> 357,194
<NET-CHANGE-IN-ASSETS> 858,644
<ACCUMULATED-NII-PRIOR> 4,789,906
<ACCUMULATED-GAINS-PRIOR> 1,108,097
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (239,434)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (251,174)
<AVERAGE-NET-ASSETS> 77,253,272
<PER-SHARE-NAV-BEGIN> 17.050
<PER-SHARE-NII> .520
<PER-SHARE-GAIN-APPREC> .310
<PER-SHARE-DIVIDEND> (1.100)
<PER-SHARE-DISTRIBUTIONS> (.250)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.530
<EXPENSE-RATIO> .400<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED;EXPENSE RATIO EXCLUDING WAIVER 0.65%
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 67,363,218
<INVESTMENTS-AT-VALUE> 84,019,013
<RECEIVABLES> 1,249,373
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 85,268,386
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 136,562
<TOTAL-LIABILITIES> 136,562
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 64,068,776
<SHARES-COMMON-STOCK> 4,793,406
<SHARES-COMMON-PRIOR> 4,797,365
<ACCUMULATED-NII-CURRENT> 2,387,340
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,019,913
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 16,655,795
<NET-ASSETS> 85,131,824
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,559,420
<OTHER-INCOME> 0
<EXPENSES-NET> (166,750)
<NET-INVESTMENT-INCOME> 2,392,670
<REALIZED-GAINS-CURRENT> 2,113,815
<APPREC-INCREASE-CURRENT> 854,649
<NET-CHANGE-FROM-OPS> 5,361,134
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,888,749)
<DISTRIBUTIONS-OF-GAINS> (676,395)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 922,060
<NUMBER-OF-SHARES-REDEEMED> (1,240,079)
<SHARES-REINVESTED> 314,060
<NET-CHANGE-IN-ASSETS> (382,902)
<ACCUMULATED-NII-PRIOR> 4,883,419
<ACCUMULATED-GAINS-PRIOR> 582,493
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 260,283
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 271,685
<AVERAGE-NET-ASSETS> 83,978,182
<PER-SHARE-NAV-BEGIN> 17.830
<PER-SHARE-NII> 0.590
<PER-SHARE-GAIN-APPREC> 0.600
<PER-SHARE-DIVIDEND> (1.110)
<PER-SHARE-DISTRIBUTIONS> (0.150)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.760
<EXPENSE-RATIO> 0.400<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
<FN>
<F1>ANNUALIZED; EXPENSE RATIO EXCLUDING WAIVER 0.65%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 582,815,348
<INVESTMENTS-AT-VALUE> 802,830,009
<RECEIVABLES> 23,190,533
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 826,020,542
<PAYABLE-FOR-SECURITIES> 4,582,066
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 775,926
<TOTAL-LIABILITIES> 5,357,992
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 550,576,909
<SHARES-COMMON-STOCK> 46,095,117
<SHARES-COMMON-PRIOR> 39,640,221
<ACCUMULATED-NII-CURRENT> 4,529,117
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 45,541,863
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 220,014,661
<NET-ASSETS> 820,662,550
<DIVIDEND-INCOME> 6,961,154
<INTEREST-INCOME> 547,143
<OTHER-INCOME> 0
<EXPENSES-NET> (2,973,986)
<NET-INVESTMENT-INCOME> 4,534,311
<REALIZED-GAINS-CURRENT> 45,847,932
<APPREC-INCREASE-CURRENT> (10,480,013)
<NET-CHANGE-FROM-OPS> 39,902,230
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,600,227)
<DISTRIBUTIONS-OF-GAINS> (105,391,578)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,137,936
<NUMBER-OF-SHARES-REDEEMED> (5,126,896)
<SHARES-REINVESTED> 6,443,856
<NET-CHANGE-IN-ASSETS> 40,364,766
<ACCUMULATED-NII-PRIOR> 8,595,033
<ACCUMULATED-GAINS-PRIOR> 105,085,509
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,896,189)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (2,973,986)
<AVERAGE-NET-ASSETS> 834,549,696
<PER-SHARE-NAV-BEGIN> 19.680
<PER-SHARE-NII> .100
<PER-SHARE-GAIN-APPREC> (1.500)
<PER-SHARE-DIVIDEND> (.220)
<PER-SHARE-DISTRIBUTIONS> (.260)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.800
<EXPENSE-RATIO> .720<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON PACIFIC GROWTH FUND JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER>17
<NAME> TEMPLETON PACIFIC GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 200944341
<INVESTMENTS-AT-VALUE> 98859272
<RECEIVABLES> 3661770
<ASSETS-OTHER> 556
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 102521598
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 180533
<TOTAL-LIABILITIES> 180533
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 216447901
<SHARES-COMMON-STOCK> 16084048
<SHARES-COMMON-PRIOR> 17827473
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1438016)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (10583751)
<ACCUM-APPREC-OR-DEPREC> (102085069)
<NET-ASSETS> 102341065
<DIVIDEND-INCOME> 3025823
<INTEREST-INCOME> 27921
<OTHER-INCOME> 0
<EXPENSES-NET> (773217)
<NET-INVESTMENT-INCOME> 2280527
<REALIZED-GAINS-CURRENT> (10199300)
<APPREC-INCREASE-CURRENT> (30270087)
<NET-CHANGE-FROM-OPS> (38188860)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5322439)
<DISTRIBUTIONS-OF-GAINS> (1619542)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4954636
<NUMBER-OF-SHARES-REDEEMED> (7814135)
<SHARES-REINVESTED> 1116074
<NET-CHANGE-IN-ASSETS> (63062750)
<ACCUMULATED-NII-PRIOR> 1603896
<ACCUMULATED-GAINS-PRIOR> 1235091
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (675264)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (773217)
<AVERAGE-NET-ASSETS> 140191123
<PER-SHARE-NAV-BEGIN> 9.28
<PER-SHARE-NII> 0.17
<PER-SHARE-GAIN-APPREC> (2.63)
<PER-SHARE-DIVIDEND> (0.35)
<PER-SHARE-DISTRIBUTIONS> (0.11)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.36
<EXPENSE-RATIO> 1.11<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1> EXPENSE RATIO IS ANNUALIZED.
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE TEMPLETON
INTERNATIONAL EQUITY FUND JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER>18
<NAME> TEMPLETON INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 717265279
<INVESTMENTS-AT-VALUE> 998839616
<RECEIVABLES> 199165615
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1198005231
<PAYABLE-FOR-SECURITIES> 2249
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1705175
<TOTAL-LIABILITIES> 1707424
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 891394357
<SHARES-COMMON-STOCK> 71772191
<SHARES-COMMON-PRIOR> 72046407
<ACCUMULATED-NII-CURRENT> 15349556
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7979557
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 281574337
<NET-ASSETS> 1196297807
<DIVIDEND-INCOME> 16431262
<INTEREST-INCOME> 5682706
<OTHER-INCOME> 0
<EXPENSES-NET> (5233656)
<NET-INVESTMENT-INCOME> 16880312
<REALIZED-GAINS-CURRENT> 8241045
<APPREC-INCREASE-CURRENT> 122892824
<NET-CHANGE-FROM-OPS> 148014181
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (34702026)
<DISTRIBUTIONS-OF-GAINS> (69708108)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5371710
<NUMBER-OF-SHARES-REDEEMED> (12020171)
<SHARES-REINVESTED> 6374245
<NET-CHANGE-IN-ASSETS> 34868258
<ACCUMULATED-NII-PRIOR> 33171270
<ACCUMULATED-GAINS-PRIOR> 69446620
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (4750614)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (5233656)
<AVERAGE-NET-ASSETS> 1197328675
<PER-SHARE-NAV-BEGIN> 16.12
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> 1.85
<PER-SHARE-DIVIDEND> (0.53)
<PER-SHARE-DISTRIBUTIONS> (1.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.67
<EXPENSE-RATIO> 0.88<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE TEMPLETON
DEVELOPING MARKETS EQUITY FUND JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER>19
<NAME> TEMPLETON DEVELOPING MARKETS EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 285283205
<INVESTMENTS-AT-VALUE> 196210739
<RECEIVABLES> 7742696
<ASSETS-OTHER> 511699
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 204465134
<PAYABLE-FOR-SECURITIES> 1991084
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 562109
<TOTAL-LIABILITIES> 2553193
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 291284581
<SHARES-COMMON-STOCK> 27979522
<SHARES-COMMON-PRIOR> 27183878
<ACCUMULATED-NII-CURRENT> 568551
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (868725)
<ACCUM-APPREC-OR-DEPREC> (89072466)
<NET-ASSETS> 201911941
<DIVIDEND-INCOME> 3936716
<INTEREST-INCOME> 574008
<OTHER-INCOME> 0
<EXPENSES-NET> (1855920)
<NET-INVESTMENT-INCOME> 2654804
<REALIZED-GAINS-CURRENT> 7188797
<APPREC-INCREASE-CURRENT> (55866517)
<NET-CHANGE-FROM-OPS> (46022916)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7007400)
<DISTRIBUTIONS-OF-GAINS> (22786132)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2988534
<NUMBER-OF-SHARES-REDEEMED> (6235432)
<SHARES-REINVESTED> 4042542
<NET-CHANGE-IN-ASSETS> (77768110)
<ACCUMULATED-NII-PRIOR> 4921147
<ACCUMULATED-GAINS-PRIOR> 14728610
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1594510)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1855920)
<AVERAGE-NET-ASSETS> 257235823
<PER-SHARE-NAV-BEGIN> 10.29
<PER-SHARE-NII> 0.13
<PER-SHARE-GAIN-APPREC> (1.97)
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (0.94)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.22
<EXPENSE-RATIO> 1.45<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Templeton Global Growth Fund June 30, 1998 semi-annual report and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>20
<NAME> TEMPLETON GLOBAL GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 631200273
<INVESTMENTS-AT-VALUE> 721508110
<RECEIVABLES> 96773877
<ASSETS-OTHER> 125775
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 818407762
<PAYABLE-FOR-SECURITIES> 14889
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 696268
<TOTAL-LIABILITIES> 711157
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 677061670
<SHARES-COMMON-STOCK> 55498710
<SHARES-COMMON-PRIOR> 49430801
<ACCUMULATED-NII-CURRENT> 8203678
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42123420
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 90307837
<NET-ASSETS> 817696605
<DIVIDEND-INCOME> 11836123
<INTEREST-INCOME> 3066004
<OTHER-INCOME> 0
<EXPENSES-NET> (3560536)
<NET-INVESTMENT-INCOME> 11341591
<REALIZED-GAINS-CURRENT> 42219178
<APPREC-INCREASE-CURRENT> 11319144
<NET-CHANGE-FROM-OPS> 64879913
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20206508)
<DISTRIBUTIONS-OF-GAINS> (73600973)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4055974
<NUMBER-OF-SHARES-REDEEMED> (4484428)
<SHARES-REINVESTED> 6496363
<NET-CHANGE-IN-ASSETS> 59252030
<ACCUMULATED-NII-PRIOR> 17068595
<ACCUMULATED-GAINS-PRIOR> 73505215
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3327562)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3560536)
<AVERAGE-NET-ASSETS> 814703610
<PER-SHARE-NAV-BEGIN> 15.34
<PER-SHARE-NII> 0.21
<PER-SHARE-GAIN-APPREC> 1.08
<PER-SHARE-DIVIDEND> (0.41)
<PER-SHARE-DISTRIBUTIONS> (1.49)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.73
<EXPENSE-RATIO> 0.88<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1> EXPENSE RATIO IS ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Templeton Global Asset Allocation Fund June 30, 1998 semi-annual report
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>21
<NAME> TEMPLETON GLOBAL ASSET ALLOCATION FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 83662793
<INVESTMENTS-AT-VALUE> 86462102
<RECEIVABLES> 8827364
<ASSETS-OTHER> 889491
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 96178957
<PAYABLE-FOR-SECURITIES> 833011
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 165176
<TOTAL-LIABILITIES> 998187
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 86838858
<SHARES-COMMON-STOCK> 7304346
<SHARES-COMMON-PRIOR> 6808249
<ACCUMULATED-NII-CURRENT> 1810587
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3717632
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2813693
<NET-ASSETS> 95180770
<DIVIDEND-INCOME> 1095750
<INTEREST-INCOME> 1427514
<OTHER-INCOME> 0
<EXPENSES-NET> (393058)
<NET-INVESTMENT-INCOME> 2130206
<REALIZED-GAINS-CURRENT> 3750712
<APPREC-INCREASE-CURRENT> (3351503)
<NET-CHANGE-FROM-OPS> 2529415
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3274568)
<DISTRIBUTIONS-OF-GAINS> (3894373)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 320591
<NUMBER-OF-SHARES-REDEEMED> (381089)
<SHARES-REINVESTED> 556595
<NET-CHANGE-IN-ASSETS> 1778948
<ACCUMULATED-NII-PRIOR> 2954949
<ACCUMULATED-GAINS-PRIOR> 3861293
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (311274)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (393058)
<AVERAGE-NET-ASSETS> 96570314
<PER-SHARE-NAV-BEGIN> 13.72
<PER-SHARE-NII> .30
<PER-SHARE-GAIN-APPREC> .07
<PER-SHARE-DIVIDEND> (.48)
<PER-SHARE-DISTRIBUTIONS> (.58)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.03
<EXPENSE-RATIO> 0.82<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 289,282,883
<INVESTMENTS-AT-VALUE> 319,087,047
<RECEIVABLES> 54,945,738
<ASSETS-OTHER> 486,907
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 374,519,692
<PAYABLE-FOR-SECURITIES> 1,344,596
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20,671,686
<TOTAL-LIABILITIES> 22,016,282
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 312,008,593
<SHARES-COMMON-STOCK> 24,158,253
<SHARES-COMMON-PRIOR> 20,826,160
<ACCUMULATED-NII-CURRENT> 540,810
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 10,149,843
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 29,804,164
<NET-ASSETS> 352,503,410
<DIVIDEND-INCOME> 872,917
<INTEREST-INCOME> 1,040,333
<OTHER-INCOME> 0
<EXPENSES-NET> (1,340,027)
<NET-INVESTMENT-INCOME> 573,223
<REALIZED-GAINS-CURRENT> 10,293,744
<APPREC-INCREASE-CURRENT> 5,162,552
<NET-CHANGE-FROM-OPS> 16,029,519
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (201,399)
<DISTRIBUTIONS-OF-GAINS> (25,854,888)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,670,813
<NUMBER-OF-SHARES-REDEEMED> (4,205,216)
<SHARES-REINVESTED> 1,866,496
<NET-CHANGE-IN-ASSETS> 39,041,871
<ACCUMULATED-NII-PRIOR> 160,082
<ACCUMULATED-GAINS-PRIOR> 25,718,276
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,305,228)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,340,027)
<AVERAGE-NET-ASSETS> 348,198,112
<PER-SHARE-NAV-BEGIN> 15.050
<PER-SHARE-NII> .020
<PER-SHARE-GAIN-APPREC> .720
<PER-SHARE-DIVIDEND> (.010)
<PER-SHARE-DISTRIBUTIONS> (1.190)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.590
<EXPENSE-RATIO> .760<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1> ANNUALIZED
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 95,551,270
<INVESTMENTS-AT-VALUE> 122,748,639
<RECEIVABLES> 30,237,673
<ASSETS-OTHER> 523,264
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 153,509,576
<PAYABLE-FOR-SECURITIES> 2,611,546
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 85,824
<TOTAL-LIABILITIES> 2,697,370
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 123,493,432
<SHARES-COMMON-STOCK> 10,052,192
<SHARES-COMMON-PRIOR> 8,150,036
<ACCUMULATED-NII-CURRENT> 528,508
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (407,103)
<ACCUM-APPREC-OR-DEPREC> 27,197,369
<NET-ASSETS> 150,812,206
<DIVIDEND-INCOME> 429,281
<INTEREST-INCOME> 586,574
<OTHER-INCOME> 0
<EXPENSES-NET> (482,805)
<NET-INVESTMENT-INCOME> 533,050
<REALIZED-GAINS-CURRENT> (212,560)
<APPREC-INCREASE-CURRENT> 13,979,113
<NET-CHANGE-FROM-OPS> 14,299,603
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (539,187)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,454,331
<NUMBER-OF-SHARES-REDEEMED> (1,589,233)
<SHARES-REINVESTED> 37,058
<NET-CHANGE-IN-ASSETS> 41,457,219
<ACCUMULATED-NII-PRIOR> 534,645
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (194,543)
<GROSS-ADVISORY-FEES> (475,396)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (482,805)
<AVERAGE-NET-ASSETS> 127,842,127
<PER-SHARE-NAV-BEGIN> 13.42
<PER-SHARE-NII> .040
<PER-SHARE-GAIN-APPREC> 1.600
<PER-SHARE-DIVIDEND> (.060)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 15.000
<EXPENSE-RATIO> .760
<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
Templeton International Smaller Companies Fund June 30, 1998 semi-annual
report and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<SERIES>
<NUMBER>24
<NAME> TEMPLETON INTERNATIONAL SMALLER COMPANIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 31182315
<INVESTMENTS-AT-VALUE> 30875672
<RECEIVABLES> 2992931
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 33868603
<PAYABLE-FOR-SECURITIES> 289871
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 37774
<TOTAL-LIABILITIES> 327645
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 34368976
<SHARES-COMMON-STOCK> 3129151
<SHARES-COMMON-PRIOR> 2922545
<ACCUMULATED-NII-CURRENT> 406128
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (927503)
<ACCUM-APPREC-OR-DEPREC> (306643)
<NET-ASSETS> 33540958
<DIVIDEND-INCOME> 550854
<INTEREST-INCOME> 63270
<OTHER-INCOME> 0
<EXPENSES-NET> (183337)
<NET-INVESTMENT-INCOME> 430787
<REALIZED-GAINS-CURRENT> (672162)
<APPREC-INCREASE-CURRENT> 993664
<NET-CHANGE-FROM-OPS> 752289
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (741652)
<DISTRIBUTIONS-OF-GAINS> (858570)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 720357
<NUMBER-OF-SHARES-REDEEMED> (661509)
<SHARES-REINVESTED> 147758
<NET-CHANGE-IN-ASSETS> 1340253
<ACCUMULATED-NII-PRIOR> 716993
<ACCUMULATED-GAINS-PRIOR> 603229
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (169050)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (183337)
<AVERAGE-NET-ASSETS> 34083132
<PER-SHARE-NAV-BEGIN> 11.02
<PER-SHARE-NII> 0.14
<PER-SHARE-GAIN-APPREC> 0.11
<PER-SHARE-DIVIDEND> (0.25)
<PER-SHARE-DISTRIBUTIONS> (0.30)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.72
<EXPENSE-RATIO> 1.08<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MUTUAL
DISCOVERY SECURITIES FUND JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER>25
<NAME> MUTUAL DISCOVERY SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 247901768
<INVESTMENTS-AT-VALUE> 266938545
<RECEIVABLES> 6466639
<ASSETS-OTHER> 6963908
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 280369092
<PAYABLE-FOR-SECURITIES> 6261891
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1836347
<TOTAL-LIABILITIES> 8098238
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 239395684
<SHARES-COMMON-STOCK> 20692108
<SHARES-COMMON-PRIOR> 16326424
<ACCUMULATED-NII-CURRENT> 2297788
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 11378131
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 19199251
<NET-ASSETS> 272270854
<DIVIDEND-INCOME> 2576784
<INTEREST-INCOME> 1349156
<OTHER-INCOME> 0
<EXPENSES-NET> (1210138)
<NET-INVESTMENT-INCOME> 2715802
<REALIZED-GAINS-CURRENT> 11845769
<APPREC-INCREASE-CURRENT> 7593428
<NET-CHANGE-FROM-OPS> 22154999
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3306778)
<DISTRIBUTIONS-OF-GAINS> (3076304)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5799918
<NUMBER-OF-SHARES-REDEEMED> (1917069)
<SHARES-REINVESTED> 482835
<NET-CHANGE-IN-ASSETS> 73618092
<ACCUMULATED-NII-PRIOR> 2888764
<ACCUMULATED-GAINS-PRIOR> 2608666
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (951673)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1210138)
<AVERAGE-NET-ASSETS> 240309742
<PER-SHARE-NAV-BEGIN> 12.17
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 1.21
<PER-SHARE-DIVIDEND> (0.17)
<PER-SHARE-DISTRIBUTIONS> (0.15)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.16
<EXPENSE-RATIO> 1.02<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MUTUAL
SHARES SECURITIES FUND JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER>26
<NAME> MUTUAL SHARES SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 480122597
<INVESTMENTS-AT-VALUE> 517276568
<RECEIVABLES> 34097233
<ASSETS-OTHER> 5195990
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 556569791
<PAYABLE-FOR-SECURITIES> 22611097
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9318534
<TOTAL-LIABILITIES> 31929631
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 467322610
<SHARES-COMMON-STOCK> 40798117
<SHARES-COMMON-PRIOR> 31841450
<ACCUMULATED-NII-CURRENT> 6729132
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13856472
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36731946
<NET-ASSETS> 524640160
<DIVIDEND-INCOME> 5543463
<INTEREST-INCOME> 3514637
<OTHER-INCOME> 0
<EXPENSES-NET> (1795279)
<NET-INVESTMENT-INCOME> 7262821
<REALIZED-GAINS-CURRENT> 14286980
<APPREC-INCREASE-CURRENT> 11124029
<NET-CHANGE-FROM-OPS> 32673830
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5124853)
<DISTRIBUTIONS-OF-GAINS> (4478333)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11184925
<NUMBER-OF-SHARES-REDEEMED> (2989208)
<SHARES-REINVESTED> 760950
<NET-CHANGE-IN-ASSETS> 136852828
<ACCUMULATED-NII-PRIOR> 4591164
<ACCUMULATED-GAINS-PRIOR> 4047825
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1403263)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1795279)
<AVERAGE-NET-ASSETS> 472395171
<PER-SHARE-NAV-BEGIN> 12.18
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 0.77
<PER-SHARE-DIVIDEND> (0.13)
<PER-SHARE-DISTRIBUTIONS> (0.11)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.86
<EXPENSE-RATIO> 0.77<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
VALUEMARK FUNDS JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 27
<NAME> FVF-GLOBAL HEALTH CARE SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,176,919
<INVESTMENTS-AT-VALUE> 1,226,868
<RECEIVABLES> 922,341
<ASSETS-OTHER> 37,689
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,186,898
<PAYABLE-FOR-SECURITIES> 324,298
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,360
<TOTAL-LIABILITIES> 334,658
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,810,640
<SHARES-COMMON-STOCK> 183,568
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,993)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (5,356)
<ACCUM-APPREC-OR-DEPREC> 49,949
<NET-ASSETS> 1,852,240
<DIVIDEND-INCOME> 22
<INTEREST-INCOME> 3,654
<OTHER-INCOME> 0
<EXPENSES-NET> (6,669)
<NET-INVESTMENT-INCOME> (2,993)
<REALIZED-GAINS-CURRENT> (5,356)
<APPREC-INCREASE-CURRENT> 49,949
<NET-CHANGE-FROM-OPS> 41,600
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 191,462
<NUMBER-OF-SHARES-REDEEMED> (7,894)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,852,240
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (810)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (6,669)
<AVERAGE-NET-ASSETS> 1,260,142
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> (.020)
<PER-SHARE-GAIN-APPREC> .110
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 10.090
<EXPENSE-RATIO> 3.170<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN VALUEMARK FUNDS JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 28
<NAME> VALUE SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 2,302,609
<INVESTMENTS-AT-VALUE> 2,200,838
<RECEIVABLES> 569,756
<ASSETS-OTHER> 2,748
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,773,342
<PAYABLE-FOR-SECURITIES> 538,060
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,811
<TOTAL-LIABILITIES> 539,871
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,340,124
<SHARES-COMMON-STOCK> 244,472
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 3,061
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (7,943)
<ACCUM-APPREC-OR-DEPREC> (101,771)
<NET-ASSETS> 2,233,471
<DIVIDEND-INCOME> 871
<INTEREST-INCOME> 4,444
<OTHER-INCOME> 0
<EXPENSES-NET> 2,254
<NET-INVESTMENT-INCOME> 3,061
<REALIZED-GAINS-CURRENT> (7,943)
<APPREC-INCREASE-CURRENT> (101,771)
<NET-CHANGE-FROM-OPS> (106,653)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
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</TABLE>
NAME OF REGISTRANT:
Franklin Valuemark Funds
File No. 811-5583
Exhibit 77c(i) - Action of Sole Shareholder by
Written Consent
VALUE SECURITIES FUND
ACTION OF SOLE SHAREHOLDER BY WRITTEN
CONSENT
The undersigned, being the sole
shareholder of the VALUE SECURITIES FUND
(the "Fund"), a series of Franklin Valuemark
Funds (the "Trust"), does hereby take the
following actions and does hereby consent to
the following votes:
VOTED: That the investment
management agreement to be entered into
between Franklin Advisory Services, Inc. and
the Trust on behalf of the Fund, be, and it
hereby is, approved for the Fund.
VOTED: That the appointment of
Coopers & Lybrand as the independent
accountants for the Fund for the fiscal
year ending December 31, 1998, be, and it
hereby is, approved.
By execution hereof, the
undersigned shareholder waives prior notice
of the foregoing action by written consent.
ALLIANZ LIFE INSURANCE COMPANY OF
NORTH AMERICA on behalf of
Allianz Life Variable Account B
As of April 23, 1998
By: /s/ James P. Kelso
James P. Kelso
Vice President
Variable Products
f:\legal\wpdoc1\fvf\agree\vsf.doc
NAME OF REGISTRANT:
Franklin Valuemark Funds
File No. 811-5583
EXHIBIT ITEM No. 77D(ii): Policies with respect
to security investments
At a meeting held on March 19, 1998 the Board
of Trustees of the Registrant approved the
following resolutions:
RESOLVED, that (1) the limit on foreign
securities be increased from 10% to 20% of total
assets, (2) up to 5% of total assets be allowed
to be invested in securities rated below CCC,
and (3) investments of up to 5% of total
assets be allowed in trade claims for the
High Income Fund, and
FURTHER RESOLVED, that (1) the limit on
REIT investments be increased from 10% to
15% of total assets and (2) the ability to
invest in developing markets be increased
from under 5% to no more than 10% of total
assets, while maintaining the current limit
of 20% of total assets for all foreign
investments for the Growth and Income Fund; and
FURTHER RESOLVED, that (1) the limit on
investments in lower-rated "junk" bonds
be increased from 5% to 10% of total assets,
primarily to permit increased exposure to
developing markets and (2) investments in
enhanced convertible securities of up to 5%
of total assets be allowed for the Templeton
International Equity Fund; and
FURTHER RESOLVED, that the limit on
investments in lower-rated "junk" bonds
be increased from 25% to 30% of total
assets, primarily to permit increased
exposure to developing markets for the
Templeton Global Income Securities Fund; and
FURTHER RESOLVED, that the Value
Securities Fund, like the Trust's Mutual
Discovery Securities Fund and Mutual
Shares Securities Fund, but unlike other
Valuemark funds, will not be subject to
the Trust's fundamental restriction which
prohibits investments made for the purpose
of exercising control or management over the
issuer; and
FURTHER RESOLVED, that changes to the
Trust-wide statements concerning foreign
securities for certain funds in the
"encyclopedia" section of the prospectus,
such as eliminating the summary policy
statement regarding investments in foreign
securities and any additional foreign policy
statements, as well as clarifying the
definition of foreign securities to include
securities of companies organized outside
the U.S., ("foreign issuers"), whether or
not they are publicly traded within the U.S.,
be, and they hereby are, approved; and
FURTHER RESOLVED, that the Prospectus and/or
Statement of Additional Information for the
Franklin Valuemark Funds be amended to
reflect the revisions to the investment
policies and restrictions for High Income
Fund, Growth and Income Fund, Templeton
International Equity Fund, Templeton Global
Income Securities Fund and Value Securities
Fund, as well as the general change to
the Prospectus regarding foreign securities,
hereinbefore approved.
Q:\LEGAL\WPDOC2\NSAR\1998\fvf-77d.doc 1
NAME OF REGISTRANT:
Franklin Valuemark Funds
File No. 811-5583
EXHIBIT ITEM No. 77D(ii): Policies with respect
to security investments
At a meeting held on December 9, 1997, the
Board of Trustees of the Registrant approved
the following resolutions:
RESOLVED, that pursuant to Article III,
Section 6, of the Trust's Amended Agreement
and Declaration of Trust, the name of the
series of the Trust now designated as the
Utility Equity Fund be, and it hereby is,
changed to Global Utilities Securities Fund
(the "Fund"); and
FURTHER RESOLVED, that the revisions to
the Fund's permissible investments and to the
disclosure in the Trust's Prospectuses
relating to the Fund as described and
presented at this meeting be, and they
hereby are, approved. Subject to such later
revisions as may be approved by the Trust's
officers and ratified by the Board, the
revised prospectus disclosure shall include
substantially the following:
Changes of Fund Name and Investment Policies.
On May 1, 1998, the Fund's name will change
to "Global Utilities Securities Fund," and
the Fund will be authorized to invest without
limit in foreign securities. The Fund's
current policy limiting foreign investments
to 25% of net assets will no longer apply.
After the changes take place, the Fund will
normally invest at least 65% of its total
assets in issuers domiciled in at least
three different countries, one of which may be
the U.S. Under normal circumstances, the Fund
is expected to invest a higher percentage of
its assets in U.S. securities than in
securities of any other single country.
The Fund's Manager believes that a global
utilities fund may benefit from a wider
selection of investment opportunities and
greater diversification than a fund which
invests primarily in securities of
domestic utility companies.
The Fund's increasing investments in foreign
securities will involve increasing risk.
Foreign securities involve greater risks
than similar domestic securities due to
currency fluctuations, market volatility, and
economic, social and political uncertainty.
Investments in foreign developing markets
involve heightened risks related to the
smaller size and lesser liquidity of these
markets. INVESTMENTS IN FOREIGN SECURITIES,
PARTICULARLY IN DEVELOPING MARKETS, INVOLVE
SPECIAL AND ADDITIONAL RISKS WHICH ARE
DISCUSSED IN THE PROSPECTUS UNDER
"HIGHLIGHTED RISK CONSIDERATIONS, FOREIGN
SECURITIES" AND IN THE STATEMENT OF
ADDITIONAL INFORMATION.
The Fund will continue to invest primarily
in securities of issuers in the public
utilities industry, as defined in the
prospectus, and its other investment
policies and restrictions will remain the
same.
NAME OF REGISTRANT:
Franklin Valuemark Funds
File No. 811-5583
Exhibit 77c(i) - Action of Sole Shareholder by
Written Consent
VALUE SECURITIES FUND
ACTION OF SOLE SHAREHOLDER BY WRITTEN
CONSENT
The undersigned, being the sole
shareholder of the VALUE SECURITIES Fund (the
"Fund"), a series of Franklin Valuemark Funds
(the "Trust"), does hereby take the following
actions and does hereby consent to the
following votes:
VOTED: That the investment
management agreement to be entered into between
Franklin Advisory Services, Inc. and the Trust
on behalf of the Fund, be, and it hereby is,
approved for the Fund.
VOTED: That the appointment of
Coopers & Lybrand as the independent
accountants for the Fund for the fiscal year
ending December 31, 1998, be, and it hereby
is, approved.
By execution hereof, the undersigned
shareholder waives prior notice of the
foregoing action by written consent.
ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA
on behalf of Allianz Life Variable Account B
As of April 23, 1998 By: /s/ James P. Kelso
James P. Kelso
Vice President
Variable Products
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f:\legal\wpdoc1\fvf\agree\vsf.doc
