FRANKLIN VALUE INVESTORS TRUST, 497J, 1999-01-05

FRANKLIN VALUE INVESTORS TRUST
497J, 1999-01-05

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                           FRANKLIN TEMPLETON GROUP
                        777 Mariners Island Boulevard
                             San Mateo, CA 94404


January 4, 1999


Filed Via EDGAR (CIK #0000856119)
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C.  20549-1004

      RE:   Franklin Value Investors Trust
            File Nos. 33-31326 and 811-5878

Ladies/Gentlemen:

Pursuant to Rule 497(j) under the Securities  Act of 1933,  this is to certify
that the forms of  Prospectus  and Statement of  Additional  Information,  and
Supplements  thereto,  that  would have been  filed  under  Rule  497(c) do not
differ  from  those  contained  in  Post-Effective  Amendment  No.  18 to  the
Registration  Statement on Form N-1A, which was filed  electronically with the
Securities and Exchange Commission on December 29, 1998.

Sincerely yours,

FRANKLIN VALUE INVESTORS TRUST



/s/ Leiann Nuzum
Corporate Counsel

LN:nk

cc:   Mark H. Plafker, Esq.