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 Gary P. Motyl, Senior Vice
President of the Investment Manager. Mr. Motyl has been a security analyst and
portfolio manager with the Investment Manager since 1981. He holds a BS in
Finance from Lehigh University and an MBA in Finance from Pace University. Prior
to joining the Templeton organization, he 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. Gary Clemons, Vice President of the Investment
Manager and Mark R. Beveridge, Vice President of the Investment Manager,
exercise secondary portfolio management responsibilities with respect to the
Fund. Mr. Clemons holds a BS in Geology from the University of Nevada and an MBA
in Finance from the University of Wisconsin. Prior to joining the Investment
Manger in 1993, he was a research analyst at Templeton Quantitative Advisors,
Inc. in New York were he was also responsible for management of a small
capitalization fund. Mr. Beveridge holds a BBA in Finance from the University of
Miami. Prior to joining the Templeton organization in 1985 as a security
analyst, he was a principal with a financial accounting software firm based in
Miami, Florida. Further information concerning the Investment Manager is
included under the heading "Investment Management and Other Services" in the
SAI.
August 13, 1996 TLCAP STKPM 8/96
