o482 STK SAI 1
SUPPLEMENT DATED AUGUST 3, 1998
TO THE STATEMENT OF ADDITIONAL INFORMATION OF
FRANKLIN VALUE FUND
DATED MARCH 1, 1998
The Statement of Additional Information is amended as follows:
I. The following replaces the Class I performance figures under "How Does the
Fund Measure Performance? - Total Return." The figures below have been restated
to reflect the Fund's current, maximum 5.75% initial sales charge.
The average annual total return for Class I for the one-year period ended
October 31, 1997, and for the period from inception (March 11, 1996) through
October 31, 1997, was 38.93% and 32.84%, respectively.
The cumulative total return for Class I for the one-year period ended October
31, 1997, and for the period from inception (March 11, 1996) through October 31,
1997, was 38.93% and 59.31%, respectively.
II. The following replaces the definition of "Offering Price" under the section
"Useful Terms and Definitions":
OFFERING PRICE - The public offering price is based on the Net Asset Value per
share of the class and includes the front-end sales charge. The maximum
front-end sales charge is 5.75% for Class I and 1% for Class II.
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Please keep this supplement for future reference.
