o GOF SAI
SUPPLEMENT DATED DECEMBER 8, 1997
TO THE STATEMENTS OF ADDITIONAL INFORMATION OF
FRANKLIN CUSTODIAN FUNDS, INC. - ADVISOR CLASS
FRANKLIN INVESTMENT GRADE INCOME FUND - ADVISOR CLASS
FRANKLIN TEMPLETON INTERNATIONAL TRUST
FRANKLIN TEMPLETON INTERNATIONAL TRUST - ADVISOR CLASS
dated January 1, 1997
FRANKLIN MANAGED TRUST
dated February 1, 1997
FRANKLIN CUSTODIAN FUNDS, INC.
dated February 1, 1997, as amended March 28, 1997
FRANKLIN GLOBAL GOVERNMENT INCOME FUND
FRANKLIN GLOBAL GOVERNMENT INCOME FUND - ADVISOR CLASS
FRANKLIN INVESTORS SECURITIES TRUST
(FIST - FRANKLIN SHORT-INTERMEDIATE U.S. GOVERNMENT SECURITIES FUND,
FRANKLIN CONVERTIBLE SECURITIES FUND, AND FRANKLIN EQUITY INCOME FUND)
FRANKLIN SHORT-INTERMEDIATE U.S. GOVERNMENT
SECURITIES FUND - ADVISOR CLASS
FRANKLIN TEMPLETON HARD CURRENCY FUND - ADVISOR CLASS
FRANKLIN TEMPLETON GERMAN GOVERNMENT BOND FUND -
ADVISOR CLASS
FRANKLIN VALUE FUND
FRANKLIN VALUE FUND - ADVISOR CLASS
DATED MARCH 1, 1997
FRANKLIN NEW YORK TAX-FREE TRUST
TEMPLETON DEVELOPING MARKETS TRUST - ADVISOR CLASS
TEMPLETON INSTITUTIONAL FUNDS, INC.
dated May 1, 1997
FRANKLIN MUTUAL SERIES FUND INC.
dated May 1, 1997, as amended August 19, 1997
FRANKLIN TAX-FREE TRUST
(TF1 - ARIZONA INSURED, FLORIDA INSURED, INSURED, MASSACHUSETTS INSURED,
MICHIGAN INSURED, MINNESOTA INSURED, AND OHIO INSURED TAX-FREE INCOME FUNDS)
(TF2 - ALABAMA, FLORIDA, GEORGIA, KENTUCKY, LOUISIANA, MARYLAND, MISSOURI, NORTH
CAROLINA, TEXAS, AND VIRGINIA TAX-FREE INCOME FUNDS
(TF3 - ARIZONA, COLORADO, CONNECTICUT, HIGH YIELD, INDIANA, MICHIGAN, NEW
JERSEY, OREGON, PENNSYLVANIA, AND PUERTO RICO TAX-FREE INCOME FUNDS)
dated July 1, 1997
FRANKLIN TEMPLETON JAPAN FUND
FRANKLIN TEMPLETON JAPAN FUND - ADVISOR CLASS
TEMPLETON GLOBAL INVESTMENT TRUST
TEMPLETON GLOBAL INVESTMENT TRUST - ADVISOR CLASS
dated August 1, 1997
FRANKLIN CALIFORNIA GROWTH FUND
FRANKLIN FEDERAL TAX-FREE INCOME FUND
FRANKLIN GLOBAL HEALTH CARE FUND
FRANKLIN GLOBAL UTILITIES FUND
FRANKLIN NATURAL RESOURCES FUND - ADVISOR CLASS
FRANKLIN REAL ESTATE SECURITIES FUND
FRANKLIN REAL ESTATE SECURITIES FUND - ADVISOR CLASS
FRANKLIN SMALL CAP GROWTH FUND
FRANKLIN SMALL CAP GROWTH FUND - ADVISOR CLASS
dated September 1, 1997
<PAGE>
FRANKLIN BIOTECHNOLOGY DISCOVERY FUND
dated September 15, 1997
FRANKLIN'S AGE HIGH INCOME FUND
FRANKLIN'S AGE HIGH INCOME FUND - ADVISOR CLASS
FRANKLIN MUNICIPAL SECURITIES TRUST
FRANKLIN NEW YORK TAX-FREE INCOME FUND
dated October 1, 1997
FRANKLIN CALIFORNIA TAX-FREE TRUST
FRANKLIN EQUITY FUND
FRANKLIN EQUITY FUND - ADVISOR CLASS
FRANKLIN TEMPLETON MONEY FUND II
dated November 1, 1997
FRANKLIN GOLD FUND
FRANKLIN GOLD FUND - ADVISOR CLASS
FRANKLIN TEMPLETON FUND ALLOCATOR SERIES
dated December 1, 1997
<PAGE>
The Statement of Additional Information is amended to replace the first
paragraph under "How Do I Buy, Sell and Exchange Shares? - Additional
Information on Selling Shares" with the following paragraph:
SYSTEMATIC WITHDRAWAL PLAN. There are no service charges for establishing or
maintaining a systematic withdrawal plan. Once your plan is established, any
distributions paid by the Fund will be automatically reinvested in your
account. Payments under the plan will be made from the redemption of an
equivalent amount of shares in your account, generally on the 25th day of the
month in which a payment is scheduled. If the 25th falls on a weekend or
holiday, we will process the redemption on the next business day.
