FRANKLIN VALUE INVESTORS TRUST
497J, 2000-03-02
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                            FRANKLIN TEMPLETON GROUP
                          777 Mariners Island Boulevard
                               San Mateo, CA 94404


March 2, 2000


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

      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  Prospectuses  and Statements of Additional  Information  that
would have been filed under Rule 497(c) do not differ  from those  contained  in
Post-Effective  Amendment  No. 20 to the  Registration  Statement  on Form N-1A,
which was filed  electronically  with the Securities and Exchange  Commission on
February 25, 2000.

Sincerely yours,

FRANKLIN VALUE INVESTORS TRUST



/s/ David P. Goss
Counsel

DPG/jg

cc:   Mark H. Plafker, Esq.




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