o482 STKPA2
SUPPLEMENT DATED AUGUST 3, 1998
TO THE PROSPECTUS OF
FRANKLIN VALUE FUND - ADVISOR CLASS
DATED MARCH 1, 1998
The prospectus is amended as follows:
I. The section "Who Manages the Fund? - Management Team" is replaced in its
entirety with the following:
MANAGEMENT TEAM. The team responsible for the day-to-day management of the
Fund's portfolio is: William J. Lippman, Bruce C. Baughman, and Margaret McGee
since the Fund's inception and Gerard P. Sullivan since March 1998.
William J. Lippman
President of Advisory Services
Mr. Lippman holds a Master of Business Administration degree from New York
University and a Bachelor of Business Administration degree from City College
New York. Mr. Lippman has been in the securities industry for over 30 years and
with the Franklin Templeton Group since 1988.
Gerard P. Sullivan
Portfolio Manager of Advisory Services
Mr. Sullivan holds a Master of Business Administration degree in Finance and
Accounting from the Columbia Graduate School of Business and a Bachelor of Arts
degree in Political Science from Columbia University. He has been with the
Franklin Templeton Group since March 1998. Previously, he was a Portfolio
Manager for SunAmerica Asset Management from February 1995 to February 1998 and
a Portfolio Manager for Texas Commerce Investment Management & Co. from July
1993 to February 1995.
Bruce C. Baughman
Vice President of Advisory Services
Mr. Baughman holds a Master of Science degree in Accounting from New York
University and a Bachelor of Arts degree from Stanford University. He has been
with the Franklin Templeton Group since 1988.
Margaret McGee
Vice President of Advisory Services
Ms. McGee holds a Bachelor of Arts degree in Business Administration from
William Paterson University. She has been in the securities industry since 1985
and with the Franklin Templeton Group since 1988.
II. The second category under "How Do I Buy Shares? - Minimum Investments,"
discussing minimum investments for qualified registered investment advisors, is
replaced with the following:
2. Qualified registered investment advisors or certified financial planners
who have clients invested in the Franklin Mutual Series Fund Inc. on
October 31, 1996, or who buy through a broker-dealer or service agent who
has entered into an agreement with Distributors, subject to a $1,000
minimum initial and $50 minimum subsequent investment requirement
III. The following new item is added under "May I Exchange Shares for Shares of
Another Fund? - Exchange Restrictions":
o You must meet the applicable minimum investment amount of the fund you are
exchanging into, or exchange 100% of your Fund shares.
IV. The section "Keeping Your Account Open," found under "Transaction Procedures
and Special Requirements," is replaced in its entirety with the following:
KEEPING YOUR ACCOUNT OPEN
Due to the relatively high cost of maintaining a small account, we may close
your account if the value of your shares is less than $250, or less than $50
for employee accounts. We will only do this if the value of your account fell
below this amount because you voluntarily sold your shares and your account has
been inactive (except for the reinvestment of distributions) for at least six
months. Before we close your account, we will notify you and give you 30 days
to increase the value of your account to $1,000, or $100 for employee accounts.
These minimums do not apply to IRAs, accounts managed by the Franklin Templeton
Group, the Franklin Templeton Profit Sharing 401(k) Plan, the series of
Franklin Templeton Fund Allocator Series, or certain defined contribution plans
that qualify to buy shares with no minimum initial investment requirement.
Please keep this supplement for future reference.
