o 482 SAA-1
SUPPLEMENT DATED JULY 7, 1999
TO THE STATEMENT OF ADDITIONAL INFORMATION OF
FRANKLIN VALUE FUND - ADVISOR CLASS
dated March 1, 1999
The Statement of Additional Information is amended as follows:
In the section "Investment restrictions," found under "Goal and Strategies,"
the fourth numbered paragraph in the list of non-fundamental restrictions is
replaced with the following:
4. Buy securities of open-end or closed-end investment companies, except
that the fund may: (i) buy securities of open-end or closed-end investment
companies in compliance with the 1940 Act; (ii) invest all or substantially
all of its assets in another registered investment company having the same
investment goal and policies as the fund; or (iii) invest in shares of one
or more money market funds managed by Franklin Advisory Services, Inc. or
its affiliates, to the extent permitted by exemptions granted under the 1940
Act.
Please keep this supplement for future reference.
