TEMPLETON REAL ESTATE SECURITIES FUND
497, 1995-10-03
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                                                                               1
                          SUPPLEMENT TO THE PROSPECTUS

                         PROSPECTUSES DATED MAY 1, 1995
                    (AS PREVIOUSLY AMENDED MAY 25, 1995 AND
                          SUPPLEMENTED JULY 26, 1995)

                              Templeton World Fund
                     Templeton Real Estate Securities Fund

                                     * * *

                          PROSPECTUS DATED MAY 1, 1995
                     (AS PREVIOUSLY AMENDED JULY 25, 1995)

                             Templeton Foreign Fund
                      Templeton Global Opportunities Trust

                                     * * *

                          PROSPECTUS DATED MAY 1, 1995
                   (AS PREVIOUSLY AMENDED SEPTEMBER 1, 1995)

                 Templeton Smaller Companies Growth Fund, Inc.

                                     * * *

                          PROSPECTUS DATED MAY 1, 1995
                    (AS PREVIOUSLY AMENDED AUGUST 11, 1995)

                             Templeton Income Fund

                                     * * *

                          PROSPECTUS DATED MAY 1, 1995
                   (AS PREVIOUSLY AMENDED AUGUST 10, 1995 AND
                        SUPPLEMENTED SEPTEMBER 29, 1995)

                       Templeton Developing Markets Trust

                                     * * *

                        PROSPECTUSES DATED JULY 10, 1995

                      Templeton Global Infrastructure Fund
                        Templeton Growth and Income Fund

                                     * * *

                          PROSPECTUS DATED MAY 1, 1995
                (AS PREVIOUSLY SUPPLEMENTED SEPTEMBER 20, 1995)

                         Templeton American Trust, Inc.

                                     * * *

                          PROSPECTUS DATED MAY 8, 1995
                    (AS PREVIOUSLY AMENDED AUGUST 31, 1995)

                             Templeton Region Funds

                                     * * *

                          PROSPECTUS DATED MAY 1, 1995
                   (AS PREVIOUSLY AMENDED SEPTEMBER 7, 1995)

                          Templeton Growth Fund, Inc.

                                     * * *

The  prospectuses  for the above  Funds are  hereby  supplemented  by adding the
following  language  to  the  section  "GENERAL   INFORMATION  -  DIVIDENDS  AND
DISTRIBUTIONS"  (the following language replaces the sixth and seventh sentences
of the first  paragraph of this section in the Templeton  Growth Fund,  Inc. and
the Templeton Region Funds prospectuses):

         Shareholders  in Class II funds may also  direct  their  dividends  and
         capital  gain  distributions  for  investment  in a  Class  I  Franklin
         Templeton Fund at net asset value.  By completing the "Special  Payment
         Instructions for Distributions" section of the Shareholder  Application
         included with this  Prospectus,  a Shareholder  may direct the selected
         distributions  to the  same  class  of  another  fund  in the  Franklin
         Templeton  Funds,  to a Class I Franklin  Templeton Fund, or to another
         person.


The following  language is added to the second  paragraph of the section "HOW TO
BUY  SHARES  OF THE  FUND - NET  ASSET  VALUE  PURCHASES  (BOTH  CLASSES)"  (the
following  language  is added to the  third  paragraph  of this  section  in the
Templeton World Fund,  Templeton Real Estate  Securities Fund,  Templeton Global
Infrastructure  Fund,  Templeton  American Trust, Inc., and Templeton Growth and
Income Fund  prospectuses)  and after the first sentence in the section entitled
"HOW TO SELL SHARES OF THE FUND - REINSTATEMENT PRIVILEGE" (except for Templeton
American Trust, Inc.):

         Class II Shareholders  may also invest such  distributions at net asset
         value in a Class I Franklin Templeton Fund.






October 2, 1995                                               TL STKR3 9/95





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