TEMPLETON INSTITUTIONAL FUNDS INC, 497, 1995-09-29

TEMPLETON INSTITUTIONAL FUNDS INC
497, 1995-09-29

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                          SUPPLEMENT TO THE PROSPECTUS

                          PROSPECTUS DATED MAY 1, 1995

                      Templeton Institutional Funds, Inc.
                            Emerging Markets Series

                                     * * *

The following language  supplements the discussion under "GENERAL  DESCRIPTION",
"INVESTMENT  OBJECTIVES AND POLICIES" and  "MANAGEMENT OF THE FUNDS - INVESTMENT
MANAGERS":

The  Fund's  investment  manager,   Templeton   Investment   Management  (Hong
Kong)  Limited,  has  been reorganized  as  the  Hong  Kong  office  of  
Templeton   Investment   Management   (Singapore)  Pte  Ltd. ("Investment
Manager"),  20  Raffles  Place,  Ocean  Towers,  Singapore.  The  Investment  
Manager  is an indirect wholly owned subsidiaries of Franklin  Resources,  Inc.
("Franklin").  Through its subsidiaries, Franklin is engaged in various aspects
of the financial services industry.





September 29, 1995                                           ZTIM STKR 09/95