180STKP
SUPPLEMENT DATED NOVEMBER 24, 1997
TO THE PROSPECTUS OF
Franklin California Growth Fund
dated September 1, 1997
I. The section "Sales Charge Waivers" under "How Do I Buy Shares? - Sales Charge
Reductions and Waivers" is amended to add the following new category 5 to the
list of sales charge waiver categories. The waiver categories numbered 5 through
15 in the prospectus are renumbered accordingly: Redemption proceeds from the
sale of Class A shares of any of the Templeton Global Strategy Funds if you:
Are a qualified investor, and
Reinvest the money within 365 days of the redemption date.
If you paid a contingent deferred sales charge when you redeemed your Class A
shares from a Templeton Global Strategy Fund, a Contingent Deferred Sales Charge
will apply to your purchase of Fund shares and a new Contingency Period will
begin. We will, however, credit your Fund account with additional shares based
on the contingent deferred sales charge you paid and the amount of the
redemption proceeds that you reinvest.
If you immediately placed your redemption proceeds in a Franklin Templeton money
fund, you may reinvest them as described above. The proceeds must be reinvested
within 365 days from the date they are redeemed from the money fund.
II. The following paragraph is added at the end of the section "How Do I Buy
Shares?":
For Investors Outside the U.S.
The distribution of this prospectus and the offering of Fund shares may be
limited in many jurisdictions. An investor who wishes to buy shares of the Fund
should determine, or have a broker-dealer determine, the applicable laws and
regulations of the relevant jurisdiction. Investors are responsible for
compliance with tax, currency exchange or other regulations applicable to
redemption and purchase transactions in any jurisdiction to which they may be
subject. Investors should consult appropriate tax and legal advisors to obtain
information on the rules applicable to these transactions.
