SUPPLEMENT DATED NOVEMBER 15, 1999
TO THE PROSPECTUSES OF
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST (VIP) -
FRANKLIN ZERO COUPON FUNDS: MATURING IN DECEMBER 2000, 2005, 2010
FRANKLIN U.S. GOVERNMENT FUND
TEMPLETON GLOBAL GROWTH FUND
TEMPLETON INTERNATIONAL EQUITY FUND
CLASS 1 AND CLASS 2
DATED MAY 1, 1999, AS SUPPLEMENTED NOVEMBER 1, 1999
The "Management" sections of the prospectuses are amended, effective
immediately, by:
(a) for the Franklin U.S. Government Fund, removing Dave Capurro from the
portfolio manager line-up.
(b) for the Franklin Zero Coupon Funds: maturing in December 2000, 2005,
2010, replacing the Management Team with the following:
MANAGEMENT TEAM The team responsible for the fund's management is:
JACK LEMEIN Mr. Lemein has been a manager of the fund
EXECUTIVE VICE since its inception in 1989.
PRESIDENT ADVISERS Mr. Lemein has more than 30 years
experience in the securities industry.
ROGER BAYSTON, CFA Mr. Bayston has been a manager of the fund
SENIOR VICE PRESIDENT since November 1999, and has been with the
ADVISERS Franklin Templeton Group since 1991.
T. ANTHONY COFFEY, CFA Mr. Coffey has been a manager of the fund
VICE PRESIDENT, since 1989, and has been with the Franklin
ADVISERS Templeton Group since 1989.
(c) for the Templeton Global Growth Fund, adding the following
person as lead manager:
MARK G. HOLOWESKO, CFA Mr. Holowesko has been a manager of the
PRESIDENT OF TGAL fund since November 1999, and has been with
the Franklin Templeton Group since 1985.
(d) for the Templeton International Equity Fund, replacing the
Management Team with the following:
MANAGEMENT TEAM The team responsible for the fund's management is:
PETER A. NORI, CFA Mr. Nori has been a manager of the fund
SENIOR VICE since November 1999, and has been with the
PRESIDENT, TICI Franklin Templeton Group since 1987.
MARK R. BEVERIDGE, CFA Mr. Beveridge has been a manager of the
SENIOR VICE fund since 1994, and has been with the
PRESIDENT, TICI Franklin Templeton Group since 1985.
Please keep this supplement for future reference.
