PAGE 1
000 A000000 02/28/99
000 C000000 0000869313
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 TEMPLETON CAPITAL ACCUMULATOR FUND, INC.
001 B000000 811-6198
001 C000000 9545277591
002 A000000 500 EAST BROWARD BOULEVARD SUITE 2100
002 B000000 FT LAUDERDALE
002 C000000 FL
002 D010000 33394
002 D020000 3091
003 000000 N
004 000000 N
005 000000 N
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007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
PAGE 2
008 A000001 TEMPLETON INVESTMENT COUNSEL, INC.
008 B000001 A
008 C000001 801-15125
008 D010001 FT LAUDERDALE
008 D020001 FL
008 D030001 33394
008 D040001 3091
010 A000001 FRANKLIN TEMPLETON SERVICES, INC.
010 B000001 8-31192
010 C010001 FT LAUDERDALE
010 C020001 FL
010 C030001 33394
010 C040001 3091
011 A000001 FRANKLIN TEMPLETON DISTRIBUTORS, INC.
011 B000001 8-00000
011 C010001 ST. PETERSBURG
011 C020001 FL
011 C030001 33716
011 C040001 1205
012 A000001 FRANKLIN TEMPLETON INVESTOR SERVICES, INC.
012 B000001 84-00000
012 C010001 ST. PETERSBURG
012 C020001 FL
012 C030001 33716
012 C040001 1205
013 A000001 MCGLADREY & PULLEN, LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
013 B040001 2416
015 A000001 THE CHASE MANHATTAN BANK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10081
015 E010001 X
015 A000002 THE CHASE MANHATTAN BANK
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 D020002 1061
015 E040002 X
015 A000003 THE CHASE MANHATTAN BANK
015 B000003 S
015 C010003 SYDNEY
015 D010003 AUSTRALIA
015 D020003 2000
015 E040003 X
015 A000004 CANADIAN IMPERIAL BANK OF COMMERCE
PAGE 3
015 B000004 S
015 C010004 TORONTO
015 D010004 CANADA
015 D020004 M5L 1G9
015 E040004 X
015 A000005 BANK AUSTRIA AG
015 B000005 S
015 C010005 VIENNA
015 D010005 AUSTRIA
015 D020005 A-1011
015 E040005 X
015 A000006 STANDARD CHARTERED BANK
015 B000006 S
015 C010006 DHAKA
015 D010006 BANGLADESH
015 D020006 1000
015 E040006 X
015 A000007 GENERALE BANK
015 B000007 S
015 C010007 BRUSSELS
015 D010007 BELGIUM
015 D020007 1000
015 E040007 X
015 A000008 CITIBANK, N.A.
015 B000008 S
015 C010008 SAO PAULO
015 D010008 BRAZIL
015 D020008 SP 01311-920
015 E040008 X
015 A000009 THE FIRST NATIONAL BANK OF CHICAGO
015 B000009 S
015 C010009 LONDON
015 D010009 UNITED KINGDOM
015 D020009 NW1 3FN
015 E040009 X
015 A000010 THE BANK OF BERMUDA LTD
015 B000010 S
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015 D010010 BERMUDA
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015 E040010 X
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015 B000011 S
015 C010011 PRAGUE
015 D010011 CZECH REPUBLIC
015 D020011 115 20
015 E040011 X
015 A000012 DEN DANSKE BANK
015 B000012 S
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015 D010012 DENMARK
PAGE 4
015 D020012 1091
015 E040012 X
015 A000013 NATIONAL BANK OF EGYPT
015 B000013 S
015 C010013 CAIRO
015 D010013 EGYPT
015 E040013 X
015 A000014 MERITA BANK LTD
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015 B000015 S
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015 D010015 FRANCE
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015 D010016 GERMANY
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015 A000017 BARCLAYS BANK OF GHANA LTD
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015 E040017 X
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015 B000018 S
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015 D020018 10562
015 E040018 X
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015 B000020 S
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PAGE 5
015 A000022 BANK OF IRELAND
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015 D010025 JAPAN
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015 A000027 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B000027 S
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015 A000028 THE CHASE MANHATTAN BANK MEXICO, S.A.
015 B000028 S
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015 A000029 BANQUE COMMERCIALE DU MAROC S.A.
015 B000029 S
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015 E040029 X
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PAGE 6
015 E040030 X
015 A000031 NATIONAL NOMINEES LIMITED
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015 A000034 THE HONGKONG AND SHANGHAI BANKING CORP LTD
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015 C010036 LISBON
015 D010036 PORTUGAL
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015 E040036 X
015 A000037 THE HONGKONG AND SHANGHAI BANKING CORP LTD
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015 E040037 X
015 A000038 THE HONGKONG AND SHANGHAI BANKING CORP LTD
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015 B000039 S
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PAGE 7
015 E040039 X
015 A000040 CESKOSLOVENSKA OBCHODNI BANKA A.S.
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015 A000042 THE HONGKONG AND SHANGHAI BANKING CORP LTD
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015 A000043 THE CHASE MANHATTAN BANK CMB, S.A.
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015 A000044 THE HONGKONG AND SHANGHAI BANKING CORP LTD
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015 A000045 SKANDINAVISKA ENSKILDA BANKEN
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015 E040045 X
015 A000046 UBS AG
015 B000046 S
015 C010046 ZURICH
015 D010046 SWITZERLAND
015 D020046 8021
015 E040046 X
015 A000047 THE CHASE MANHATTAN BANK
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015 D010047 THAILAND
015 D020047 10500
015 E040047 X
015 A000048 THE CHASE MANHATTAN BANK
015 B000048 S
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015 D010048 TURKEY
PAGE 8
015 D020048 80700
015 E040048 X
015 A000049 THE CHASE MANHATTAN BANK
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015 D010049 UNITED KINGDOM
015 D020049 EC2N 4AJ
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015 A000050 BANKBOSTON, N.A.
015 B000050 S
015 C010050 MONTEVIDEO
015 D010050 URUGUAY
015 E040050 X
015 A000051 CITIBANK, N.A.
015 B000051 S
015 C010051 CARACAS
015 D010051 VENEZUELA
015 D020051 1010
015 E040051 X
015 A000052 BARCLAYS BANK OF ZIMBABWE LIMITED
015 B000052 S
015 C010052 HARARE
015 D010052 ZIMBABWE
015 E040052 X
015 A000053 BANQUE GENERALE DU LUXEMBOURG S.A.
015 B000053 S
015 C010053 LUXEMBOURG
015 D010053 LUXEMBOURG
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015 A000054 CITITRUST COLOMBIA S.A.
015 B000054 S
015 C010054 SANTAFE DE BOGOTA
015 D010054 COLOMBIA
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015 A000055 BARCLAYS BANK OF BOTSWANA LIMITED
015 B000055 S
015 C010055 GABORONE
015 D010055 BOTSWANA
015 E040055 X
015 A000056 BARCLAYS BANK OF KENYA LIMITED
015 B000056 S
015 C010056 NAIROBI
015 D010056 KENYA
015 E040056 X
015 A000057 BARCLAYS BANK PLC
015 B000057 S
015 C010057 NICOSIA
015 D010057 CYPRUS
015 D020057 1644
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PAGE 9
015 A000058 DEUTSCHE BANK AG
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015 C010058 KARACHI
015 D010058 PAKISTAN
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015 A000059 BARCLAYS BANK OF ZAMBIA LIMITED
015 B000059 S
015 C010059 LUSAKA
015 D010059 ZAMBIA
015 E040059 X
015 A000060 STANDARD BANK NAMIBIA LIMITED
015 B000060 S
015 C010060 WINDHOEK
015 D010060 NAMIBIA
015 E040060 X
015 A000061 CHASE MANHATTAN BANK INTERNATIONAL
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015 C010061 MOSCOW
015 D010061 RUSSIA
015 D020061 125047
015 E040061 X
015 A000062 STANBIC BANK SWAZILAND LIMITED
015 B000062 S
015 C010062 MBABANE
015 D010062 SWAZILAND
015 E040062 X
015 A000063 CITIBANK, N.A.
015 B000063 S
015 C010063 QUITO
015 D010063 ECUADOR
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015 A000064 THE BRITISH BANK OF THE MIDDLE EAST
015 B000064 S
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015 A000065 THE BRITISH BANK OF THE MIDDLE EAST
015 B000065 S
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015 D010065 BAHRAIN
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015 A000066 CEDEL BANK S.A.
015 B000066 S
015 C010066 LUXEMBOURG
015 D010066 LUXEMBOURG
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015 A000067 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B000067 S
015 C010067 ABIDJAN
015 D010067 IVORY COAST
015 D020067 01
PAGE 10
015 E040067 X
015 A000068 THE BRITISH BANK OF THE MIDDLE EAST
015 B000068 S
015 C010068 RAS-BEIRUT
015 D010068 LEBANON
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015 A000069 THE HONGKONG AND SHANGHAI BANKING CORP LTD
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015 D010069 INDIA
015 D020069 400 025
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015 A000070 EUROCLEAR
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015 C010070 BRUSSELS
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PAGE 11
020 A000009 WERTHEIM SCHRODER
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PAGE 12
025 B000001 13-2650272
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PAGE 13
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PAGE 14
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PAGE 15
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PAGE 16
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PAGE 17
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SIGNATURE /s/JAMES R. BAIO
James R. Baio
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON CAPITAL ACCUMULATOR FUND FEBRUARY 28, 1999 SEMI-ANNUAL REPORT
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000869313
<NAME> TEMPLETON CAPITAL ACCUMULATOR FUND, INC.
<S> <C>
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<NUMBER-OF-SHARES-REDEEMED> (729852)
<SHARES-REINVESTED> 1158862
<NET-CHANGE-IN-ASSETS> 48938737
<ACCUMULATED-NII-PRIOR> 3064216
<ACCUMULATED-GAINS-PRIOR> 7325003
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (830511)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1244600)
<AVERAGE-NET-ASSETS> 223304827
<PER-SHARE-NAV-BEGIN> 9.69
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 1.35
<PER-SHARE-DIVIDEND> (0.18)
<PER-SHARE-DISTRIBUTIONS> (0.36)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.53
<EXPENSE-RATIO> 1.12<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1> Expense ratio is annualized.
</FN>
</TABLE>
