SUPPLEMENT TO THE PROSPECTUS
Prospectus Dated May 1, 1996
TEMPLETON INSTITUTIONAL FUNDS, INC.
GROWTH SERIES
FOREIGN EQUITY SERIES
The discussion under "MANAGEMENT OF THE FUNDS-INVESTMENT MANAGERS" is amended
by replacing the text of the sixth paragraph, with the following text:
The portfolio manager for Growth Series and Foreign Equity Series is
Gary P. Motyl, executive vice president of the Investment Manager. Mr. Motyl
holds a BS degree in finance from Lehigh University and an MBA in finance from
Pace University. He has been a security analyst and portfolio manager with the
Investment Manager since 1981. Prior to joining the Templeton organization, Mr.
Motyl worked from 1974 to 1979 as a security analyst with Standard & Poor's
Corporation. He then worked as a research analyst and portfolio manager from
1979 to 1981 with Landmark First National Bank. In this capacity he had
responsibility for equity research and managed several pension and
profit-sharing plans. Mark Beveridge and Gary R. Clemons exercise secondary
portfolio management responsibilities with respect to Growth Series and Foreign
Equity Series. Mr. Beveridge is a vice president of the Investment Manager. He
holds a BBA in finance from the University of Miami. He is a Chartered Financial
Analyst and a Chartered Investment Counselor, and a member of the South Florida
Society of Financial Analysts and the International Society of Financial
Analysts. Before joining the Templeton organization in 1985 as a security
analyst, Mr. Beveridge was a principal with a financial accounting software firm
based in Miami, Florida. He is currently a portfolio manager and research
analyst with responsibility for the industrial component and
appliances/household durables industries. He also has market coverage of
Argentina, Thailand and Denmark. Mr. Clemons is vice president of the Investment
Manager. He holds a BS degree in geology from the University of Nevada-Reno an
MBA degree in finance from the University of Wisconsin. He joined the Investment
Manager in 1993. Prior to that time he was a research analyst at Templeton
Quantitative Advisors, Inc. in New York, where he was also responsible for
management of a small capitalization fund. As a research analyst with Templeton,
Mr. Clemons has responsibility for the telecommunications industries and country
coverage of Columbia, Peru, Sweden and Norway.
July 17, 1996 ZTIFI STKR 7/96
