SUPPLEMENT TO THE PROSPECTUS
Prospectus Dated January 1, 1996
TEMPLETON CAPITAL ACCUMULATION PLANS
TEMPLETON CAPITAL ACCUMULATOR FUND, INC.
The discussion under "MANAGEMENT OF THE FUND- INVESTMENT MANAGER" is amended by
replacing the text of the fifth paragraph, with the following text:
The lead portfolio manager for the Fund is Mark Beveridge, 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. Gary R. Clemons
exercises secondary portfolio management responsibilities with respect to the
Fund. Mr.Clemons is vice president of the Investment Manager. He holds a BS
degree in geology from the University of Nevada-Reno and an MBA degree in
finance from the University of Wisconsin-Madison. 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.
August 8, 1996 TLCAP STKPM 8/96
