* FSS2 P-1
SUPPLEMENT DATED DECEMBER 1, 2000
TO THE PROSPECTUS OF
FRANKLIN STRATEGIC SERIES
(FSS2-FRANKLIN BIOTECHNOLOGY DISCOVERY, TECHNOLOGY, GLOBAL HEALTH CARE,
GLOBAL COMMUNICATIONS AND NATURAL RESOURCES FUNDS)
DATED SEPTEMBER 1, 2000
The prospectus is amended as follows:
I. The "Management" section on page 10 is replaced with the following:
[Insert graphic of briefcase] MANAGEMENT
----------
Franklin Advisers, Inc. (Advisers), 777 Mariners Island Blvd., San Mateo, CA
94403, is the Fund's investment manager. Together, Advisers and its
affiliates manage over $229 billion in assets.
The team responsible for the Fund's management is:
EVAN MCCULLOCH CFA, VICE PRESIDENT OF ADVISERS
Mr. McCulloch has been a manager of the Fund since 1997. He joined
Franklin Templeton Investments in 1992.
PAUL WALKER CFA, PORTFOLIO MANAGER OF ADVISERS
Mr. Walker has been a manager of the Fund since May 2000. He joined
Franklin Templeton Investments in 1996.
JASON R. NUNN, PORTFOLIO MANAGER OF ADVISERS
Mr. Nunn has been a manager of the Fund since November 2000. He joined
Franklin Templeton Investments in 1998. Previously, he worked in
corporate finance with Alex. Brown & Sons.
The Fund pays Advisers a fee for managing the Fund's assets. For the
fiscal year ended April 30, 2000, the Fund paid 0.47% of its average
daily net assets to the manager for its services.
II. The "Management" section on page 30 is replaced with the following:
[Insert graphic of briefcase] MANAGEMENT
----------
Franklin Advisers, Inc. (Advisers), 777 Mariners Island Blvd., San Mateo, CA
94403, is the Fund's investment manager. Together, Advisers and its
affiliates manage over $229 billion in assets.
The team responsible for the Fund's management is:
JASON R. NUNN, PORTFOLIO MANAGER OF ADVISERS
Mr. Nunn has been a manager of the Fund since November 2000. He joined
Franklin Templeton Investments in 1998. Previously, he worked in
corporate finance with Alex. Brown & Sons.
EVAN MCCULLOCH CFA, VICE PRESIDENT OF ADVISERS
Mr. McCulloch has been a manager of the Fund since 1994. He joined
Franklin Templeton Investments in 1992.
PAUL WALKER CFA, PORTFOLIO MANAGER OF ADVISERS
Mr. Walker has been a manager of the Fund since November 2000. He
joined Franklin Templeton Investments in 1996.
RUPERT H. JOHNSON, JR., PRESIDENT OF ADVISERS
Mr. Johnson has been a manager of the Fund since 1992. He joined
Franklin Templeton Investments in 1965.
The Fund pays Advisers a fee for managing the Fund's assets. For the
fiscal year ended April 30, 2000, management fees, before any advance
waiver were 0.62% of the Fund's average daily net assets. Under an
agreement by the manager to reduce its fees to reflect reduced
services resulting from the Fund's investment in a Franklin Templeton
money fund, the Fund paid 0.61% of its average daily net assets to the
manager for its services. This reduction is required by the Fund's
Board of Trustees and an order by the Securities and Exchange
Commission.
Please keep this supplement for future reference.>
