<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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015 D020206 1000
015 E040206 X
015 A000207 BANCO CHASE MANHATTAN, S.A.
015 B000207 S
015 C010207 SAO PAULO
015 D010207 BRAZIL
015 D020207 SP 04719-002
015 E040207 X
015 A000208 THE ROYAL BANK OF CANADA
015 B000208 S
015 C010208 TORONTO
015 D010208 CANADA
015 D020208 M5J 2J5
015 E040208 X
015 A000209 CANADA TRUST
015 B000209 S
015 C010209 TORONTO
015 D010209 CANADA
015 D020209 M5J 2T2
015 E040209 X
015 A000210 CITITRUST COLOMBIA S.A.
015 B000210 S
015 C010210 SANTAFE DE BOGOTA
015 D010210 COLOMBIA
015 E040210 X
015 A000211 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000211 S
015 C010211 PRAHA
015 D010211 CZECH REPUBLIC
015 D020211 115 20
015 E040211 X
015 A000212 DEN DANSKE BANK
015 B000212 S
015 C010212 COPENHAGEN
015 D010212 DENMARK
015 D020212 1091
015 E040212 X
015 A000213 NATIONAL BANK OF EGYPT
015 B000213 S
<PAGE> PAGE 19
015 C010213 CAIRO
015 D010213 EGYPT
015 E040213 X
015 A000214 MERITA BANK LTD
015 B000214 S
015 C010214 HELSINKI
015 D010214 FINLAND
015 D020214 00500
015 E040214 X
015 A000215 BANQUE PARIBAS
015 B000215 S
015 C010215 PARIS
015 D010215 FRANCE
015 D020215 75078
015 E040215 X
015 A000216 CHASE BANK A.G.
015 B000216 S
015 C010216 FRANKFURT
015 D010216 GERMANY
015 D020216 60441
015 E040216 X
015 A000217 BARCLAYS BANK OF GHANA
015 B000217 S
015 C010217 ACCRA
015 D010217 GHANA
015 E040217 X
015 A000218 BARCLAYS BANK PLC
015 B000218 S
015 C010218 ATHENS
015 D010218 GREECE
015 D020218 10562
015 E040218 X
015 A000219 THE CHASE MANHATTAN BANK
015 B000219 S
015 C010219 HONG KONG
015 D010219 HONG KONG
015 E040219 X
015 A000220 CITIBANK BUDAPEST RT.
015 B000220 S
015 C010220 BUDAPEST
015 D010220 HUNGARY
015 D020220 1052
015 E040220 X
015 A000221 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000221 S
015 C010221 JAKARTA
015 D010221 INDONESIA
015 D020221 10023
015 E040221 X
015 A000222 BANK OF IRELAND
015 B000222 S
<PAGE> PAGE 20
015 C010222 DUBLIN
015 D010222 IRELAND
015 D020222 1
015 E040222 X
015 A000223 BANK LEUMI LE-ISRAEL B.M.
015 B000223 S
015 C010223 TEL AVIV
015 D010223 ISRAEL
015 D020223 61000
015 E040223 X
015 A000224 THE CHASE MANHATTAN BANK
015 B000224 S
015 C010224 MILAN
015 D010224 ITALY
015 D020224 20121
015 E040224 X
015 A000225 THE FUJI BANK LTD.
015 B000225 S
015 C010225 TOKYO
015 D010225 JAPAN
015 E040225 X
015 A000226 THE CHASE MANHATTAN BANK
015 B000226 S
015 C010226 KUALA LUMPUR
015 D010226 MALAYSIA
015 D020226 50250
015 E040226 X
015 A000227 HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000227 S
015 C010227 CUREPIPE
015 D010227 MAURITIUS
015 E040227 X
015 A000228 THE CHASE MANHATTAN BANK, S.A.
015 B000228 S
015 C010228 MEXICO D.F.
015 D010228 MEXICO
015 D020228 01210
015 E040228 X
015 A000229 DELETE
015 A000230 BANQUE COMMERCIALE DU MAROC
015 B000230 S
015 C010230 CASABLANCA
015 D010230 MOROCCO
015 D020230 20000
015 E040230 X
015 A000231 ABN AMRO N.V.
015 B000231 S
015 C010231 DE BREDA
015 D010231 NETHERLANDS
015 D020231 4800
015 E040231 X
<PAGE> PAGE 21
015 A000232 NATIONAL NOMINEES LIMITED
015 B000232 S
015 C010232 AUCKLAND
015 D010232 NEW ZEALAND
015 E040232 X
015 A000233 DEN NORSKE BANK
015 B000233 S
015 C010233 OSLO
015 D010233 NORWAY
015 D020233 N-0107
015 E040233 X
015 A000234 CITIBANK N.A.
015 B000234 S
015 C010234 KARACHI
015 D010234 PAKISTAN
015 D020234 74200
015 E040234 X
015 A000235 DELETE
015 A000236 CITIBANK, N.A.
015 B000236 S
015 C010236 LIMA
015 D010236 PERU
015 D020236 27
015 E040236 X
015 A000237 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000237 S
015 C010237 PASIG CITY
015 D010237 PHILIPPINES
015 E040237 X
015 A000238 DELETE
015 A000239 BANK HANDLOWY W. WARSAWIE, S.A.
015 B000239 S
015 C010239 WARSAW
015 D010239 POLAND
015 D020239 00-920
015 E040239 X
015 A000240 BANCO ESPIRITO SANTO & COMERCIAL DE LISBOA
015 B000240 S
015 C010240 LISBON
015 D010240 PORTUGAL
015 D020240 1200
015 E040240 X
015 A000241 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000241 S
015 C010241 SHANGHAI
015 D010241 CHINA
015 D020241 1376
015 E040241 X
015 A000242 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000242 S
015 C010242 SHENZHEN
<PAGE> PAGE 22
015 D010242 CHINA
015 E040242 X
015 A000243 THE CHASE MANHATTAN BANK
015 B000243 S
015 C010243 SINGAPORE
015 D010243 SINGAPORE
015 D020243 0104
015 E040243 X
015 A000244 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000244 S
015 C010244 BRATISLAVA
015 D010244 SLOVAK REPUBLIC
015 D020244 815 63
015 E040244 X
015 A000245 STANDARD CORPORATE AND MERCHANT BANK
015 B000245 S
015 C010245 JOHANNESBURG
015 D010245 SOUTH AFRICA
015 D020245 2001
015 E040245 X
015 A000246 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000246 S
015 C010246 SEOUL
015 D010246 SOUTH KOREA
015 E040246 X
015 A000247 THE CHASE MANHATTAN BANK
015 B000247 S
015 C010247 MADRID
015 D010247 SPAIN
015 D020247 28042
015 E040247 X
015 A000248 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000248 S
015 C010248 COLOMBO
015 D010248 SRI LANKA
015 D020248 1
015 E040248 X
015 A000249 SKANDINAVISKA ENSKILDA BANKEN
015 B000249 S
015 C010249 STOCKHOLM
015 D010249 SWEDEN
015 D020249 S-106 40
015 E040249 X
015 A000250 UNION BANK OF SWITZERLAND
015 B000250 S
015 C010250 ZURICH
015 D010250 SWITZERLAND
015 D020250 8021
015 E040250 X
015 A000251 THE CHASE MANHATTAN BANK
015 B000251 S
<PAGE> PAGE 23
015 C010251 BANGKOK
015 D010251 THAILAND
015 D020251 10500
015 E040251 X
015 A000252 THE CHASE MANHATTAN BANK
015 B000252 S
015 C010252 ISTANBUL
015 D010252 TURKEY
015 D020252 80700
015 E040252 X
015 A000253 THE CHASE MANHATTAN BANK
015 B000253 S
015 C010253 LONDON
015 D010253 UNITED KINGDOM
015 D020253 EC2P 2HD
015 E040253 X
015 A000254 THE FIRST NATIONAL BANK OF BOSTON
015 B000254 S
015 C010254 MONTEVIDEO
015 D010254 URUGUAY
015 E040254 X
015 A000255 CITIBANK, N.A.
015 B000255 S
015 C010255 CARACAS
015 D010255 VENEZUELA
015 D020255 1010
015 E040255 X
015 A000256 BARCLAYS BANK OF ZAMBIA
015 B000256 S
015 C010256 LUSAKA
015 D010256 ZAMBIA
015 E040256 X
015 A000257 BARCLAYS BANK OF ZIMBABWE
015 B000257 S
015 C010257 HARARE
015 D010257 ZIMBABWE
015 E040257 X
015 A000258 AUSTRACLEAR RESERVE BANK
015 B000258 S
015 C010258 SYDNEY
015 D010258 AUSTRALIA
015 E040258 X
015 A000259 CEDEL S.A.
015 B000259 S
015 C010259 LUXEMBOURG
015 D010259 LUXEMBOURG
015 E040259 X
015 A000260 FIRST CHICAGO CLEARING CENTRE
015 B000260 S
015 C010260 LONDON
015 D010260 UNITED KINGDOM
<PAGE> PAGE 24
015 D020260 EC3A 1AA
015 E040260 X
015 A000261 CHASE MANHATTAN BANK INTERNATIONAL
015 B000261 S
015 C010261 MOSCOW
015 D010261 RUSSIA
015 D020261 125047
015 E040261 X
015 A000262 BARCLAYS BANK OF KENYA
015 B000262 S
015 C010262 NAIROBI
015 D010262 KENYA
015 E040262 X
015 A000263 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000263 S
015 C010263 BOMBAY
015 D010263 INDIA
015 D020263 400 001
015 E040263 X
015 A000264 DELETE
015 A000265 BARCLAYS BANK OF BOTSWANA LIMITED
015 B000265 S
015 C010265 GABORONE
015 D010265 BOTSWANA
015 E040265 X
015 A000266 DELETE
015 A000267 BARCLAYS BANK PLC
015 B000267 S
015 C010267 NICOSIA
015 D010267 CYPRUS
015 D020267 1644
015 E040267 X
015 A000268 CITIBANK, N.A.
015 B000268 S
015 C010268 QUITO
015 D010268 ECUADOR
015 E040268 X
015 A000269 BANQUE GENERALE DU LUXEMBURG S.A.
015 B000269 S
015 C010269 LUXEMBOURG
015 D010269 LUXEMBOURG
015 D020269 L-2951
015 E040269 X
015 A000270 STANDARD BANK NAMIBIA LTD
015 B000270 S
015 C010270 WINDHOEK
015 D010270 NAMIBIA
015 E040270 X
015 A000271 THE BRITISH BANK OF THE MIDDLE EAST
015 B000271 S
015 C010271 RUWI MUSCAT
<PAGE> PAGE 25
015 D010271 SULTANATE OF OMAN
015 E040271 X
015 A000272 STANBIC BANK SWAZILAND LTD
015 B000272 S
015 C010272 MBABANE
015 D010272 SWAZILAND
015 E040272 X
015 A000273 THE CHASE MANHATTAN BANK
015 B000273 S
015 C010273 TAIPEI
015 D010273 TAIWAN
015 E040273 X
015 A000274 DELETE
024 000200 N
025 D000201 0
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 46592
028 A020200 0
028 A030200 0
028 A040200 12815
028 B010200 49950
028 B020200 0
028 B030200 0
028 B040200 3592
028 C010200 44570
028 C020200 0
028 C030200 0
028 C040200 1035
028 D010200 52570
028 D020200 0
028 D030200 0
028 D040200 7487
028 E010200 10961
028 E020200 0
028 E030200 0
028 E040200 910
028 F010200 10796
028 F020200 30481
028 F030200 0
028 F040200 1002
028 G010200 215439
028 G020200 30481
028 G030200 0
028 G040200 26841
028 H000200 0
<PAGE> PAGE 26
045 000200 Y
046 000200 N
047 000200 Y
048 000200 1.250
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 Y
053 B000200 Y
053 C000200 N
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
<PAGE> PAGE 27
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 Y
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 Y
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 Y
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 697354
071 B000200 84953
<PAGE> PAGE 28
071 C000200 1073070
071 D000200 8
072 A000200 12
072 B000200 9361
072 C000200 29822
072 D000200 0
072 E000200 0
072 F000200 15677
072 G000200 1128
072 H000200 0
072 I000200 6
072 J000200 2348
072 K000200 2
072 L000200 21
072 M000200 42
072 N000200 274
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 31
072 S000200 4
072 T000200 0
072 U000200 1
072 V000200 0
072 W000200 32
072 X000200 19566
072 Y000200 0
072 Z000200 19617
072AA000200 25928
072BB000200 6589
072CC010200 154325
072CC020200 0
072DD010200 18840
072DD020200 0
072EE000200 18732
073 A010200 0.1550
073 A020200 0.0000
073 B000200 0.1600
073 C000200 0.0000
074 A000200 1460
074 B000200 0
074 C000200 120804
074 D000200 4269
074 E000200 109182
074 F000200 1329510
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 1446
074 K000200 0
074 L000200 4068
<PAGE> PAGE 29
074 M000200 7
074 N000200 1570739
074 O000200 2771
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 2431
074 S000200 0
074 T000200 1565537
074 U010200 125712
074 U020200 0
074 V010200 12.45
074 V020200 0.00
074 W000200 0.0000
074 X000200 533
074 Y000200 0
075 A000200 0
075 B000200 1254135
076 000200 0.00
008 A000301 TEMPLETON INVESTMENT COUNSEL, INC.
008 B000301 A
008 C000301 801-15125
008 D010301 FT. LAUDERDALE
008 D020301 FL
008 D030301 33394
008 D040301 3091
015 A000301 THE CHASE MANHATTAN BANK
015 B000301 C
015 C010301 NEW YORK
015 C020301 NY
015 C030301 10081
015 E010301 X
015 A000302 THE CHASE MANHATTAN BANK
015 B000302 S
015 C010302 BUENOS AIRES
015 D010302 ARGENTINA
015 D020302 1061
015 E040302 X
015 A000303 THE CHASE MANHATTAN BANK
015 B000303 S
015 C010303 SYDNEY
015 D010303 AUSTRALIA
015 D020303 2000
015 E040303 X
015 A000304 CREDITANSTALT-BANKVEREIN
015 B000304 S
015 C010304 VIENNA
015 D010304 AUSTRIA
015 D020304 A-1011
<PAGE> PAGE 30
015 E040304 X
015 A000305 GENERALE BANK
015 B000305 S
015 C010305 BRUXELLES
015 D010305 BELGIUM
015 D020305 1000
015 E040305 X
015 A000306 THE ROYAL BANK OF CANADA
015 B000306 S
015 C010306 TORONTO
015 D010306 CANADA
015 D020306 M5J 2J5
015 E040306 X
015 A000307 CANADA TRUST
015 B000307 S
015 C010307 TORONTO
015 D010307 CANADA
015 D020307 M5J 2T2
015 E040307 X
015 A000308 DEN DANSKE BANK
015 B000308 S
015 C010308 COPENHAGEN
015 D010308 DENMARK
015 D020308 1091
015 E040308 X
015 A000309 BARCLAYS BANK OF KENYA
015 B000309 S
015 C010309 NAIROBI
015 D010309 KENYA
015 E040309 X
015 A000310 BANQUE PARIBAS
015 B000310 S
015 C010310 PARIS
015 D010310 FRANCE
015 D020310 75078
015 E040310 X
015 A000311 CHASE BANK A.G.
015 B000311 S
015 C010311 FRANKFURT
015 D010311 GERMANY
015 D020311 60441
015 E040311 X
015 A000312 BARCLAYS BANK PLC
015 B000312 S
015 C010312 ATHENS
015 D010312 GREECE
015 D020312 10562
015 E040312 X
015 A000313 THE CHASE MANHATTAN BANK
015 B000313 S
015 C010313 HONG KONG
<PAGE> PAGE 31
015 D010313 HONG KONG
015 E040313 X
015 A000314 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000314 S
015 C010314 JAKARTA
015 D010314 INDONESIA
015 D020314 10023
015 E040314 X
015 A000315 BANK OF IRELAND
015 B000315 S
015 C010315 DUBLIN
015 D010315 IRELAND
015 D020315 1
015 E040315 X
015 A000316 THE CHASE MANHATTAN BANK
015 B000316 S
015 C010316 MILAN
015 D010316 ITALY
015 D020316 20121
015 E040316 X
015 A000317 THE FUJI BANK LTD
015 B000317 S
015 C010317 TOKYO
015 D010317 JAPAN
015 E040317 X
015 A000318 THE CHASE MANHATTAN BANK
015 B000318 S
015 C010318 KUALA LUMPUR
015 D010318 MALAYSIA
015 D020318 50250
015 E040318 X
015 A000319 THE CHASE MANHATTEN BANK, S.A.
015 B000319 S
015 C010319 MEXICO D.F.
015 D010319 MEXICO
015 D020319 01210
015 E040319 X
015 A000320 ABN AMRO N.V.
015 B000320 S
015 C010320 DE BREDA
015 D010320 NETHERLANDS
015 D020320 4800
015 E040320 X
015 A000321 NATIONAL NOMINEES LIMITED
015 B000321 S
015 C010321 AUCKLAND
015 D010321 NEW ZEALAND
015 E040321 X
015 A000322 DEN NORSKE BANK
015 B000322 S
015 C010322 OSLO
<PAGE> PAGE 32
015 D010322 NORWAY
015 D020322 N-0107
015 E040322 X
015 A000323 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000323 S
015 C010323 PASIG CITY
015 D010323 PHILIPPINES
015 E040323 X
015 A000324 BANCO ESPIRITO SANTO & COMERCIAL DE LISBOA
015 B000324 S
015 C010324 LISBON
015 D010324 PORTUGAL
015 D020324 1200
015 E040324 X
015 A000325 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000325 S
015 C010325 SHENZHEN
015 D010325 CHINA
015 E040325 X
015 A000326 THE CHASE MANHATTAN BANK
015 B000326 S
015 C010326 SINGAPORE
015 D010326 SINGAPORE
015 D020326 0104
015 E040326 X
015 A000327 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000327 S
015 C010327 SEOUL
015 D010327 SOUTH KOREA
015 E040327 X
015 A000328 THE CHASE MANHATTAN BANK
015 B000328 S
015 C010328 MADRID
015 D010328 SPAIN
015 D020328 28046
015 E040328 X
015 A000329 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000329 S
015 C010329 COLOMBO
015 D010329 SRI LANKA
015 D020329 1
015 E040329 X
015 A000330 SKANDINAVISKA ENSKILDA BANKEN
015 B000330 S
015 C010330 STOCKHOLM
015 D010330 SWEDEN
015 D020330 S-106 40
015 E040330 X
015 A000331 UNION BANK OF SWITZERLAND
015 B000331 S
015 C010331 ZURICH
<PAGE> PAGE 33
015 D010331 SWITZERLAND
015 D020331 8021
015 E040331 X
015 A000332 THE CHASE MANHATTAN BANK
015 B000332 S
015 C010332 BANGKOK
015 D010332 THAILAND
015 D020332 10500
015 E040332 X
015 A000333 THE CHASE MANHATTAN BANK
015 B000333 S
015 C010333 ISTANBUL
015 D010333 TURKEY
015 D020333 80700
015 E040333 X
015 A000334 THE CHASE MANHATTAN BANK
015 B000334 S
015 C010334 LONDON
015 D010334 UNITED KINGDOM
015 D020334 EC2P 2HD
015 E040334 X
015 A000335 CITIBANK N.A.
015 B000335 S
015 C010335 CARACAS
015 D010335 VENEZUELA
015 D020335 1010
015 E040335 X
015 A000336 AUSTRACLEAR RESERVE BANK
015 B000336 S
015 C010336 SYDNEY
015 D010336 AUSTRALIA
015 E040336 X
015 A000337 CEDEL S.A.
015 B000337 S
015 C010337 LUXEMBOURG
015 D010337 LUXEMBOURG
015 E040337 X
015 A000338 FIRST CHICAGO CLEARING CENTRE
015 B000338 S
015 C010338 LONDON
015 D010338 UNITED KINGDOM
015 D020338 EC3A 1AA
015 E040338 X
015 A000339 STANDARD CHARTERED BANK
015 B000339 S
015 C010339 DHAKA
015 D010339 BANGLADESH
015 D020339 1000
015 E040339 X
015 A000340 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000340 S
<PAGE> PAGE 34
015 C010340 SHANGHAI
015 D010340 CHINA
015 E040340 X
015 A000341 BANK LEUMI LE-ISRAEL B.M.
015 B000341 S
015 C010341 TEL AVIV
015 D010341 ISRAEL
015 D020341 61000
015 E040341 X
015 A000342 STANDARD CORPORATE AND MERCHANT BANK
015 B000342 S
015 C010342 JOHANNESBURG
015 D010342 SOUTH AFRICA
015 D020342 2001
015 E040342 X
015 A000343 THE FIRST NATIONAL BANK OF BOSTON
015 B000343 S
015 C010343 MONTEVIDEO
015 D010343 URUGUAY
015 D020343 1463
015 E040343 X
015 A000344 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000344 S
015 C010344 PRAHA
015 D010344 CZECH REPUBLIC
015 D020344 115 20
015 E040344 X
015 A000345 NATIONAL BANK OF EGYPT
015 B000345 S
015 C010345 CAIRO
015 D010345 EGYPT
015 E040345 X
015 A000346 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000346 S
015 C010346 CUREPIPE
015 D010346 MAURITIUS
015 E040346 X
015 A000347 BANQUE COMMERCIALE DU MAROC
015 B000347 S
015 C010347 CASABLANCA
015 D010347 MOROCCO
015 D020347 20000
015 E040347 X
015 A000348 BARCLAYS BANK OF GHANA LTD.
015 B000348 S
015 C010348 ACCRA
015 D010348 GHANA
015 E040348 X
015 A000349 CITIBANK BUDAPEST RT
015 B000349 S
015 C010349 BUDAPEST
<PAGE> PAGE 35
015 D010349 HUNGARY
015 D020349 1052
015 E040349 X
015 A000350 CITIBANK, N.A.
015 B000350 S
015 C010350 LIMA
015 D010350 PERU
015 D020350 27
015 E040350 X
015 A000351 BANK HANDLOWY W. WARSAWIE, S.A.
015 B000351 S
015 C010351 WARSAW
015 D010351 POLAND
015 D020351 00-920
015 E040351 X
015 A000352 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000352 S
015 C010352 BRATISLAVA
015 D010352 SLOVAK REPUBLIC
015 D020352 815 63
015 E040352 X
015 A000353 BARCLAYS BANK OF ZIMBABWE
015 B000353 S
015 C010353 HARARE
015 D010353 ZIMBABWE
015 E040353 X
015 A000354 BARCLAYS BANK OF ZAMBIA
015 B000354 S
015 C010354 LUSAKA
015 D010354 ZAMBIA
015 E040354 X
015 A000355 MERITA BANK LTD
015 B000355 S
015 C010355 HELSINKI
015 D010355 FINLAND
015 E040355 X
015 A000356 BARCLAYS BANK OF BOTSWANA LIMITED
015 B000356 S
015 C010356 GABORONE
015 D010356 BOTSWANA
015 E040356 X
015 A000357 DEUTSCHE BANK A.G.
015 B000357 S
015 C010357 KARACHI
015 D010357 PAKISTAN
015 E040357 X
015 A000358 BARCLAYS BANK PLC
015 B000358 S
015 C010358 NICOSIA
015 D010358 CYPRUS
015 D020358 1644
<PAGE> PAGE 36
015 E040358 X
015 A000359 BANQUE GENERALE DU LUXEMBOURG S.A.
015 B000359 S
015 C010359 LUXEMBOURG
015 D010359 LUXEMBOURG
015 D020359 L-2951
015 E040359 X
015 A000360 STANDARD BANK NAMIBIA LTD
015 B000360 S
015 C010360 WINDHOEK
015 D010360 NAMIBIA
015 E040360 X
015 A000361 THE BRITISH BANK OF THE MIDDLE EAST
015 B000361 S
015 C010361 MUSCAT
015 D010361 SULTANATE OF OMAN
015 E040361 X
015 A000362 CHASE MANHATTEN BANK INTERNATIONAL
015 B000362 S
015 C010362 MOSCOW
015 D010362 RUSSIA
015 D020362 125047
015 E040362 X
015 A000363 STANBIC BANK SWAZILAND LTD
015 B000363 S
015 C010363 MBABANE
015 D010363 SWAZILAND
015 E040363 X
024 000300 N
028 A010300 0
028 A020300 0
028 A030300 0
028 A040300 0
028 B010300 0
028 B020300 0
028 B030300 0
028 B040300 0
028 C010300 0
028 C020300 0
028 C030300 0
028 C040300 0
028 D010300 0
028 D020300 0
028 D030300 0
028 D040300 0
028 E010300 0
028 E020300 0
028 E030300 0
028 E040300 0
028 F010300 0
028 F020300 0
<PAGE> PAGE 37
028 F030300 0
028 F040300 103
028 G010300 0
028 G020300 0
028 G030300 0
028 G040300 103
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.550
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 Y
053 B000300 Y
053 C000300 N
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
<PAGE> PAGE 38
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 0.0
064 A000300 N
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
<PAGE> PAGE 39
070 R020300 N
071 A000300 56
071 B000300 86
071 C000300 22
071 D000300 254
072 A000300 12
072 B000300 5
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 1
072 G000300 0
072 H000300 0
072 I000300 0
072 J000300 2
072 K000300 0
072 L000300 4
072 M000300 0
072 N000300 24
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 4
072 S000300 3
072 T000300 0
072 U000300 3
072 V000300 0
072 W000300 0
072 X000300 41
072 Y000300 40
072 Z000300 4
072AA000300 0
072BB000300 1
072CC010300 0
072CC020300 0
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.3279
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
<PAGE> PAGE 40
074 J000300 0
074 K000300 0
074 L000300 0
074 M000300 0
074 N000300 0
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 0
074 S000300 0
074 T000300 0
074 U010300 0
074 U020300 0
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 0
074 Y000300 0
075 A000300 0
075 B000300 100
076 000300 0.00
008 A000401 TEMPLETON INVESTMENT COUNSEL, INC.
008 B000401 A
008 C000401 801-15125
008 D010401 FT. LAUDERDALE
008 D020401 FL
008 D030401 33394
008 D040401 3091
015 A000401 THE CHASE MANHATTAN BANK
015 B000401 S
015 C010401 BUENOS AIRES
015 D010401 ARGENTINA
015 D020401 1061
015 E040401 X
015 A000402 THE CHASE MANHATTAN BANK AUSTRALIA LTD
015 B000402 S
015 C010402 SYDNEY
015 D010402 AUSTRALIA
015 D020402 2000
015 E040402 X
015 A000403 CREDITANSTALT-BANKVEREIN
015 B000403 S
015 C010403 VIENNA
015 D010403 AUSTRIA
015 D020403 A-1011
015 E040403 X
015 A000404 STANDARD CHARTERED BANK
015 B000404 S
<PAGE> PAGE 41
015 C010404 DHAKA
015 D010404 BANGLADESH
015 D020404 1000
015 E040404 X
015 A000405 GENERALE BANK
015 B000405 S
015 C010405 BRUXELLES
015 D010405 BELGIUM
015 D020405 1000
015 E040405 X
015 A000406 BANCO CHASE MANHATTAN, S.A.
015 B000406 S
015 C010406 SAO PAULO
015 D010406 BRAZIL
015 D020406 SP 04719-002
015 E040406 X
015 A000407 THE ROYAL BANK OF CANADA
015 B000407 S
015 C010407 TORONTO
015 D010407 CANADA
015 D020407 M5J 2J5
015 E040407 X
015 A000408 CANADA TRUST
015 B000408 S
015 C010408 TORONTO
015 D010408 CANADA
015 D020408 M5J 2T2
015 E040408 X
015 A000409 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000409 S
015 C010409 PRAHA
015 D010409 CZECH REPUBLIC
015 D020409 115 20
015 E040409 X
015 A000410 DEN DANSKE BANK
015 B000410 S
015 C010410 COPENHAGEN
015 D010410 DENMARK
015 D020410 1091
015 E040410 X
015 A000411 NATIONAL BANK OF EGYPT
015 B000411 S
015 C010411 CAIRO
015 D010411 EGYPT
015 E040411 X
015 A000412 MERITA BANK LTD
015 B000412 S
015 C010412 HELSINKI
015 D010412 FINLAND
015 E040412 X
015 A000413 BANQUE PARIBAS
<PAGE> PAGE 42
015 B000413 S
015 C010413 PARIS
015 D010413 FRANCE
015 D020413 75078
015 E040413 X
015 A000414 CHASE BANK A.G.
015 B000414 S
015 C010414 FRANKFURT
015 D010414 GERMANY
015 D020414 60441
015 E040414 X
015 A000415 BARCLAYS BANK OF GHANA LTD
015 B000415 S
015 C010415 ACCRA
015 D010415 GHANA
015 E040415 X
015 A000416 BARCLAYS BANK PLC
015 B000416 S
015 C010416 ATHENS
015 D010416 GREECE
015 D020416 10562
015 E040416 X
015 A000417 THE CHASE MANHATTAN BANK
015 B000417 S
015 C010417 HONG KONG
015 D010417 HONG KONG
015 E040417 X
015 A000418 CITIBANK BUDAPEST RT.
015 B000418 S
015 C010418 BUDAPEST
015 D010418 HUNGARY
015 D020418 1052
015 E040418 X
015 A000419 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000419 S
015 C010419 JAKARTA
015 D010419 INDONESIA
015 D020419 10023
015 E040419 X
015 A000420 BANK OF IRELAND
015 B000420 S
015 C010420 DUBLIN
015 D010420 IRELAND
015 D020420 1
015 E040420 X
015 A000421 BANK LEUMI LE-ISRAEL B.M.
015 B000421 S
015 C010421 TEL AVIV
015 D010421 ISRAEL
015 D020421 61000
015 E040421 X
<PAGE> PAGE 43
015 A000422 THE CHASE MANHATTAN BANK
015 B000422 S
015 C010422 MILAN
015 D010422 ITALY
015 D020422 20121
015 E040422 X
015 A000423 THE FUJI BANK LTD
015 B000423 S
015 C010423 TOKYO
015 D010423 JAPAN
015 E040423 X
015 A000424 THE CHASE MANHATTAN BANK
015 B000424 S
015 C010424 KUALA LUMPUR
015 D010424 MALAYSIA
015 D020424 50250
015 E040424 X
015 A000425 HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000425 S
015 C010425 CUREPIPE
015 D010425 MAURITIUS
015 E040425 X
015 A000426 THE CHASE MANHATTAN BANK, S.A.
015 B000426 S
015 C010426 MEXICO D.F.
015 D010426 MEXICO
015 D020426 01210
015 E040426 X
015 A000427 BANQUE COMMERCIALE DU MAROC
015 B000427 S
015 C010427 CASABLANCA
015 D010427 MOROCCO
015 D020427 20000
015 E040427 X
015 A000428 ABN AMRO N.V.
015 B000428 S
015 C010428 DE BREDA
015 D010428 NETHERLANDS
015 D020428 4800
015 E040428 X
015 A000429 NATIONAL NOMINEES LIMITED
015 B000429 S
015 C010429 AUCKLAND
015 D010429 NEW ZEALAND
015 E040429 X
015 A000430 DEN NORSKE BANK
015 B000430 S
015 C010430 OSLO
015 D010430 NORWAY
015 D020430 N-0107
015 E040430 X
<PAGE> PAGE 44
015 A000431 CITIBANK, N.A.
015 B000431 S
015 C010431 LIMA
015 D010431 PERU
015 D020431 27
015 E040431 X
015 A000432 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000432 S
015 C010432 PASIG CITY
015 D010432 PHILIPPINES
015 E040432 X
015 A000433 DELETE
015 A000434 BANCO ESPIRITO SANTO & COMERCIAL DE LISBOA
015 B000434 S
015 C010434 LISBON
015 D010434 PORTUGAL
015 D020434 1200
015 E040434 X
015 A000435 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000435 S
015 C010435 SHANGHAI
015 D010435 CHINA
015 D020435 1376
015 E040435 X
015 A000436 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000436 S
015 C010436 SHENZHEN
015 D010436 CHINA
015 E040436 X
015 A000437 THE CHASE MANHATTAN BANK
015 B000437 S
015 C010437 SINGAPORE
015 D010437 SINGAPORE
015 D020437 0104
015 E040437 X
015 A000438 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000438 S
015 C010438 BRATISLAVA
015 D010438 SLOVAK REPUBLIC
015 D020438 815 63
015 E040438 X
015 A000439 STANDARD CORPORATE AND MERCHANT BANK
015 B000439 S
015 C010439 JOHANNESBURG
015 D010439 SOUTH AFRICA
015 D020439 2001
015 E040439 X
015 A000440 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000440 S
015 C010440 SEOUL
015 D010440 SOUTH KOREA
<PAGE> PAGE 45
015 E040440 X
015 A000441 THE CHASE MANHATTAN BANK
015 B000441 S
015 C010441 MADRID
015 D010441 SPAIN
015 D020441 28046
015 E040441 X
015 A000442 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000442 S
015 C010442 COLOMBO
015 D010442 SRI LANKA
015 D020442 1
015 E040442 X
015 A000443 SKANDINAVISKA ENSKILDA BANKEN
015 B000443 S
015 C010443 STOCKHOLM
015 D010443 SWEDEN
015 D020443 S-106 40
015 E040443 X
015 A000444 UNION BANK OF SWITZERLAND
015 B000444 S
015 C010444 ZURICH
015 D010444 SWITZERLAND
015 D020444 8021
015 E040444 X
015 A000445 THE CHASE MANHATTAN BANK
015 B000445 S
015 C010445 BANGKOK
015 D010445 THAILAND
015 D020445 10500
015 E040445 X
015 A000446 THE CHASE MANHATTAN BANK
015 B000446 S
015 C010446 ISTANBUL
015 D010446 TURKEY
015 D020446 80700
015 E040446 X
015 A000447 THE CHASE MANHATTAN BANK
015 B000447 S
015 C010447 LONDON
015 D010447 UNITED KINGDOM
015 D020447 EC2P 2HD
015 E040447 X
015 A000448 THE CHASE MANHATTAN BANK
015 B000448 C
015 C010448 NEW YORK
015 C020448 NY
015 C030448 10081
015 E010448 X
015 A000449 THE FIRST NATIONAL BANK OF BOSTON
015 B000449 S
<PAGE> PAGE 46
015 C010449 MONTEVIDEO
015 D010449 URUGUAY
015 E040449 X
015 A000450 CITIBANK N.A.
015 B000450 S
015 C010450 CARACAS
015 D010450 VENEZUELA
015 D020450 1010
015 E040450 X
015 A000451 BARCLAYS BANK OF ZAMBIA
015 B000451 S
015 C010451 LUSAKA
015 D010451 ZAMBIA
015 E040451 X
015 A000452 BARCLAYS BANK OF ZIMBABWE
015 B000452 S
015 C010452 HARARE
015 D010452 ZIMBABWE
015 E040452 X
015 A000453 CEDEL S.A.
015 B000453 S
015 C010453 LUXEMBOURG
015 D010453 LUXEMBOURG
015 E040453 X
015 A000454 FIRST CHICAGO CLEARING CENTRE
015 B000454 S
015 C010454 LONDON
015 D010454 UNITED KINGDOM
015 D020454 EC3A 1AA
015 E040454 X
015 A000455 AUSTRACLEAR RESERVE BANK
015 B000455 S
015 C010455 SYDNEY
015 D010455 AUSTRALIA
015 E040455 X
015 A000456 BANCO NACIONAL DE MEXICO
015 B000456 S
015 C010456 MEXICO D.F.
015 D010456 MEXICO
015 D020456 06040
015 E040456 X
015 A000457 BANK HANDLOWY W. WARSAWIE, S.A.
015 B000457 S
015 C010457 WARSAW
015 D010457 POLAND
015 D020457 00-920
015 E040457 X
015 A000458 BARCLAYS BANK OF BOTSWANA LIMITED
015 B000458 S
015 C010458 GABORONE
015 D010458 BOTSWANA
<PAGE> PAGE 47
015 E040458 X
015 A000459 BARCLAYS BANK OF KENYA
015 B000459 S
015 C010459 NAIROBI
015 D010459 KENYA
015 E040459 X
015 A000460 DEUTSCHE BANK A.G.
015 B000460 S
015 C010460 KARACHI
015 D010460 PAKISTAN
015 E040460 X
015 A000461 CITIBANK, N.A.
015 B000461 S
015 C010461 QUITO
015 D010461 ECUADOR
015 E040461 X
015 A000462 BANQUE GENERALE DU LUXEMBOURG S.A.
015 B000462 S
015 C010462 LUXEMBOURG
015 D010462 LUXEMBOURG
015 D020462 L-2951
015 E040462 X
015 A000463 STANDARD BANK NAMIBIA LTD
015 B000463 S
015 C010463 WINDHOEK
015 D010463 NAMIBIA
015 E040463 X
015 A000464 THE BRITISH BANK OF THE MIDDLE EAST
015 B000464 S
015 C010464 MUSCAT
015 D010464 SULTANATE OF OMAN
015 E040464 X
015 A000465 BARCLAYS BANK PLC
015 B000465 S
015 C010465 NICOSIA
015 D010465 CYPRUS
015 D020465 1644
015 E040465 X
015 A000466 CHASE MANHATTAN BANK INTERNATIONAL
015 B000466 S
015 C010466 MOSCOW
015 D010466 RUSSIA
015 D020466 125047
015 E040466 X
015 A000467 STANBIC BANK SWAZILAND LTD
015 B000467 S
015 C010467 MBABANE
015 D010467 SWAZILAND
015 E040467 X
024 000400 N
028 A010400 2372
<PAGE> PAGE 48
028 A020400 0
028 A030400 0
028 A040400 924
028 B010400 1723
028 B020400 0
028 B030400 0
028 B040400 1295
028 C010400 1345
028 C020400 0
028 C030400 0
028 C040400 852
028 D010400 1633
028 D020400 0
028 D030400 0
028 D040400 774
028 E010400 3663
028 E020400 0
028 E030400 0
028 E040400 1099
028 F010400 1846
028 F020400 17324
028 F030400 0
028 F040400 2349
028 G010400 12582
028 G020400 17324
028 G030400 0
028 G040400 7293
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.700
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
<PAGE> PAGE 49
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 Y
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
<PAGE> PAGE 50
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 Y
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 35456
071 B000400 51486
071 C000400 227077
071 D000400 16
072 A000400 12
072 B000400 784
072 C000400 6814
072 D000400 0
072 E000400 0
072 F000400 1657
072 G000400 212
072 H000400 0
072 I000400 0
072 J000400 111
072 K000400 1
072 L000400 15
072 M000400 9
072 N000400 36
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 18
072 S000400 1
072 T000400 0
072 U000400 2
072 V000400 0
072 W000400 6
<PAGE> PAGE 51
072 X000400 2068
072 Y000400 0
072 Z000400 5530
072AA000400 15186
072BB000400 1943
072CC010400 30278
072CC020400 0
072DD010400 5396
072DD020400 0
072EE000400 14835
073 A010400 0.2900
073 A020400 0.0000
073 B000400 0.7800
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 21995
074 D000400 7473
074 E000400 9053
074 F000400 228984
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 894
074 M000400 2
074 N000400 268401
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 243
074 S000400 0
074 T000400 268158
074 U010400 19993
074 U020400 0
074 V010400 13.41
074 V020400 0.00
074 W000400 0.0000
074 X000400 36
074 Y000400 0
075 A000400 0
075 B000400 236702
076 000400 0.00
SIGNATURE JAMES R. BAIO
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TIFI FOREIGN EQUITY SERIES DECEMBER 31, 1996 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER>01
<NAME> TIFI FOREIGN EQUITY SERIES
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 2321806193
<INVESTMENTS-AT-VALUE> 2807616599
<RECEIVABLES> 60448307
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 40465
<TOTAL-ASSETS> 2868105371
<PAYABLE-FOR-SECURITIES> 7453164
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3061474
<TOTAL-LIABILITIES> 10514638
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2387961682
<SHARES-COMMON-STOCK> 174840843
<SHARES-COMMON-PRIOR> 129496379
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2669031)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (13512324)
<ACCUM-APPREC-OR-DEPREC> 485810406
<NET-ASSETS> 2857590733
<DIVIDEND-INCOME> 79994062
<INTEREST-INCOME> 16174482
<OTHER-INCOME> 0
<EXPENSES-NET> 20549169
<NET-INVESTMENT-INCOME> 75619375
<REALIZED-GAINS-CURRENT> 19801000
<APPREC-INCREASE-CURRENT> 367862740
<NET-CHANGE-FROM-OPS> 463283115
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (79293403)
<DISTRIBUTIONS-OF-GAINS> (35435012)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 57725609
<NUMBER-OF-SHARES-REDEEMED> (19936059)
<SHARES-REINVESTED> 7554914
<NET-CHANGE-IN-ASSETS> 1039707426
<ACCUMULATED-NII-PRIOR> 756912
<ACCUMULATED-GAINS-PRIOR> 2369773
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 16525094
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 20549169
<AVERAGE-NET-ASSETS> 2360727655
<PER-SHARE-NAV-BEGIN> 14.04
<PER-SHARE-NII> 0.450
<PER-SHARE-GAIN-APPREC> 2.540
<PER-SHARE-DIVIDEND> (0.470)
<PER-SHARE-DISTRIBUTIONS> (0.220)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.34
<EXPENSE-RATIO> 0.87
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TIFI GROWTH SERIES DECEMBER 31, 1996 ANNUAL REPORT AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER>02
<NAME> TIFI GROWTH SERIES
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 211609861
<INVESTMENTS-AT-VALUE> 267505328
<RECEIVABLES> 893216
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2031
<TOTAL-ASSETS> 268400575
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 242784
<TOTAL-LIABILITIES> 242784
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 212846140
<SHARES-COMMON-STOCK> 19993055
<SHARES-COMMON-PRIOR> 19141240
<ACCUMULATED-NII-CURRENT> 134012
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (717828)
<ACCUM-APPREC-OR-DEPREC> 55895467
<NET-ASSETS> 268157791
<DIVIDEND-INCOME> 6813640
<INTEREST-INCOME> 784361
<OTHER-INCOME> 0
<EXPENSES-NET> 2067792
<NET-INVESTMENT-INCOME> 5530209
<REALIZED-GAINS-CURRENT> 13242428
<APPREC-INCREASE-CURRENT> 30278191
<NET-CHANGE-FROM-OPS> 49050828
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5396197)
<DISTRIBUTIONS-OF-GAINS> (14385189)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2056255
<NUMBER-OF-SHARES-REDEEMED> (2735648)
<SHARES-REINVESTED> 1531208
<NET-CHANGE-IN-ASSETS> 41194782
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 424933
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1656913
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2067792
<AVERAGE-NET-ASSETS> 236701853
<PER-SHARE-NAV-BEGIN> 11.86
<PER-SHARE-NII> 0.300
<PER-SHARE-GAIN-APPREC> 2.320
<PER-SHARE-DIVIDEND> (0.290)
<PER-SHARE-DISTRIBUTIONS> (0.780)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.41
<EXPENSE-RATIO> 0.87
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TIFI EMERGING MARKETS SERIES DECEMBER 31, 1996 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER>03
<NAME> TIFI EMERGING MARKETS SERIES
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1457933747
<INVESTMENTS-AT-VALUE> 1563765071
<RECEIVABLES> 5507140
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1466365
<TOTAL-ASSETS> 1570738576
<PAYABLE-FOR-SECURITIES> 2770835
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2431122
<TOTAL-LIABILITIES> 5201957
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1456499744
<SHARES-COMMON-STOCK> 125711773
<SHARES-COMMON-PRIOR> 74261758
<ACCUMULATED-NII-CURRENT> 865476
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2340075
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 105831324
<NET-ASSETS> 1565536619
<DIVIDEND-INCOME> 29822203
<INTEREST-INCOME> 9361025
<OTHER-INCOME> 0
<EXPENSES-NET> 19566078
<NET-INVESTMENT-INCOME> 19617150
<REALIZED-GAINS-CURRENT> 19339283
<APPREC-INCREASE-CURRENT> 154324968
<NET-CHANGE-FROM-OPS> 193281401
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (18840261)
<DISTRIBUTIONS-OF-GAINS> (18732279)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53130712
<NUMBER-OF-SHARES-REDEEMED> (4431413)
<SHARES-REINVESTED> 2750716
<NET-CHANGE-IN-ASSETS> 767021555
<ACCUMULATED-NII-PRIOR> 1138292
<ACCUMULATED-GAINS-PRIOR> 683366
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 15676692
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19566078
<AVERAGE-NET-ASSETS> 1254135375
<PER-SHARE-NAV-BEGIN> 10.75
<PER-SHARE-NII> 0.150
<PER-SHARE-GAIN-APPREC> 1.860
<PER-SHARE-DIVIDEND> (0.15)
<PER-SHARE-DISTRIBUTIONS> (0.160)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.45
<EXPENSE-RATIO> 1.56
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
The Board of Directors and Shareholders
Templeton Institutional Funds, Inc.
In planning and performing our audit of the financial statements of Foreign
Equity Series, Growth Series and Emerging Markets Series, each separate series
of Templeton Institutional Funds, Inc. for the year ended December 31, 1996, we
considered its internal control structure, including procedures for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the internal control
structure.
The management of Templeton Institutional Funds, Inc. is responsible for
establishing and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1996.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
/s/MCGLADREY & PULLEN, LLP
McGladrey & Pullen, LLP
New York, New York
January 31, 1997
