150 STKP3
189 STKP1
SUPPLEMENT DATED APRIL 8, 1998
TO THE PROSPECTUSES OF
FRANKLIN BALANCE SHEET INVESTMENT FUND
FRANKLIN MICROCAP VALUE FUND
DATED MARCH 1, 1998
The prospectus is amended as follows:
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: Bruce C. Baughman, William J. Lippman, and Margaret McGee
since the fund's inception and Gerard P. Sullivan since March, 1998.
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.
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.
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.
