<PAGE> PAGE 1
000 B000000 12/31/95
000 C000000 878087
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 DEVELOPING MARKETS TRUST
001 B000000 811-6378
001 C000000 3055277591
002 A000000 500 E BROWARD BLVD SUITE 2100
002 B000000 FT LAUDERDALE
002 C000000 FL
002 D010000 33394
002 D020000 3091
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A000001 TEMPLETON ASSET MANAGEMENT LTD
008 B000001 A
008 C000001 801-42353
008 D010001 HONG KONG
008 D050001 HONG KONG
010 A000001 TEMPLETON GLOBAL INVESTORS INC
010 B000001 8-31192
010 C010001 FT LAUDERDALE
<PAGE> PAGE 2
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 33701
011 C040001 3628
012 A000001 FRANKLIN TEMPLETON INVESTOR SERVICES INC
012 B000001 84-00000
012 C010001 ST PETERSBURG
012 C020001 FL
012 C030001 33701
012 C040001 3628
013 A000001 MC GLADREY & PULLEN LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
013 B040001 2416
015 A000001 THE CHASE MANHATTAN BANK, N.A.
015 B000001 S
015 C010001 BUENOS AIRES
015 D010001 ARGENTINA
015 E040001 X
015 A000002 THE CHASE MANHATTAN BANK AUSTRALIA LTD
015 B000002 S
015 C010002 NEW SOUTH WALES
015 D010002 AUSTRALIA
015 D020002 2000
015 E040002 X
015 A000003 CREDITANSTALT BANKVEREIN
015 B000003 S
015 C010003 VIENNA
015 D010003 AUSTRIA
015 E040003 X
015 A000004 STANDARD CHARTERED BANK
015 B000004 S
015 C010004 DHAKA
015 D010004 BANGLADESH
015 E040004 X
015 A000005 GENERALE BANK
015 B000005 S
015 C010005 BRUXELLES
015 D010005 BELGIUM
015 E040005 X
015 A000006 BANCO CHASE MANHATTAN, S.A.
015 B000006 S
015 C010006 SAO PAULO
015 D010006 BRAZIL
015 D020006 04719-002
<PAGE> PAGE 3
015 E040006 X
015 A000007 THE ROYAL BANK OF CANADA
015 B000007 S
015 C010007 TORONTO
015 D010007 CANADA
015 D020007 M5J 2J5
015 E040007 X
015 A000008 CANADA TRUST COMPANY
015 B000008 S
015 C010008 TORONTO
015 D010008 CANADA
015 D020008 M5J 2T2
015 E040008 X
015 A000009 CITITRUST COLUMBIA S.A.
015 B000009 S
015 C010009 SANTAFE DE BOGOTA
015 D010009 COLUMBIA
015 E040009 X
015 A000010 CESKOSLOVENSKA OBEHODNI BANKA, A.S.
015 B000010 S
015 C010010 PRAHA
015 D010010 CZECH REPUBLIC
015 E040010 X
015 A000011 DEN DANSKE BANK
015 B000011 S
015 C010011 COPENHAGEN
015 D010011 DENMARK
015 E040011 X
015 A000012 NATIONAL BANK OF EGYPT
015 B000012 S
015 C010012 CAIRO
015 D010012 EGYPT
015 E040012 X
015 A000013 CEDEL S.A.
015 B000013 S
015 C010013 LUXEMBOURG
015 D010013 LUXEMBOURG
015 E040013 X
015 A000014 MERITA BANK KOP
015 B000014 S
015 C010014 HELSINKI
015 D010014 FINLAND
015 E040014 X
015 A000015 BANQUE PARIBAS
015 B000015 S
015 C010015 PARIS
015 D010015 FRANCE
015 D020015 75078
015 E040015 X
015 A000016 CHASE BANK A.G.
015 B000016 S
<PAGE> PAGE 4
015 C010016 FRANKFURT
015 D010016 GERMANY
015 E040016 X
015 A000017 BARCLAYS BANK OF GHANA
015 B000017 S
015 C010017 ACCRA
015 D010017 GHANA
015 E040017 X
015 A000018 BARCLAYS BANK PLC
015 B000018 S
015 C010018 ATHENS
015 D010018 GREECE
015 E040018 X
015 A000019 THE CHASE MANHATTAN BANK, N.A.
015 B000019 S
015 C010019 HONG KONG
015 D010019 HONG KONG
015 E040019 X
015 A000020 CITIBANK BUDAPEST RT.
015 B000020 S
015 C010020 BUDAPEST
015 D010020 HUNGARY
015 E040020 X
015 A000021 THE HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B000021 S
015 C010021 BOMBAY
015 D010021 INDIA
015 D020021 400 001
015 E040021 X
015 A000022 DEUTSCHE BANK AG. BOMBAY BRANCH
015 B000022 S
015 C010022 BOMBAY
015 D010022 INDIA
015 D020022 400 001
015 E040022 X
015 A000023 THE HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B000023 S
015 C010023 JAKARTA
015 D010023 INDONESIA
015 D020023 10023
015 E040023 X
015 A000024 BANK OF IRELAND
015 B000024 S
015 C010024 DUBLIN
015 D010024 IRELAND
015 E040024 X
015 A000025 BANK LEUIMI LE ISRAEL B.M.
015 B000025 S
015 C010025 TEL AVIV
015 D010025 ISRAEL
015 D020025 65136
<PAGE> PAGE 5
015 E040025 X
015 A000026 THE CHASE MANHATTAN BANK, N.A.
015 B000026 S
015 C010026 MILAN
015 D010026 ITALY
015 D020026 20121
015 E040026 X
015 A000027 THE CHASE MANHATTAN BANK, N.A.
015 B000027 S
015 C010027 TOKYO
015 D010027 JAPAN
015 D020027 100
015 E040027 X
015 A000028 THE CHASE MANHATTAN BANK, N.A.
015 B000028 S
015 C010028 KUALA LUMPUR
015 D010028 MALAYSIA
015 D020028 50250
015 E040028 X
015 A000029 HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B000029 S
015 C010029 CUREPIPE
015 D010029 MAURITIUS
015 E040029 X
015 A000030 THE CHASE MANHATTAN BANK, S.A.
015 B000030 S
015 C010030 MEXICO CITY
015 D010030 MEXICO
015 E040030 X
015 A000031 BANQUE COMMERCIALE DU MAROC
015 B000031 S
015 C010031 CASABALANCA
015 D010031 MOROCCO
015 D020031 20000
015 E040031 X
015 A000032 ABN AMRO N.V.
015 B000032 S
015 C010032 ROTTERDAM
015 D010032 NETHERLANDS
015 E040032 X
015 A000033 NATIONAL NOMINEES LIMITED
015 B000033 S
015 C010033 AUCKLAND
015 D010033 NEW ZEALAND
015 E040033 X
015 A000034 DEN NORSKE BANK
015 B000034 S
015 C010034 OSLO
015 D010034 NORWAY
015 D020034 1
015 E040034 X
<PAGE> PAGE 6
015 A000035 CITIBANK N.A.
015 B000035 S
015 C010035 KARACHI
015 D010035 PAKISTAN
015 E040035 X
015 A000036 DEUTSCHE BANK
015 B000036 S
015 C010036 KARACHI
015 D010036 PAKISTAN
015 E040036 X
015 A000037 CITIBANK, N.A.
015 B000037 S
015 C010037 LIMA
015 D010037 PERU
015 D020037 27
015 E040037 X
015 A000038 THE HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B000038 S
015 C010038 MANILA
015 D010038 PHILIPPINES
015 E040038 X
015 A000039 BANK HANDLOWY W. WARSAWIE S.A.
015 B000039 S
015 C010039 WARSAW
015 D010039 POLAND
015 D020039 00-920
015 E040039 X
015 A000040 BANCO ESPIRITO SANTO & COMERCIAL DE LISBOA
015 B000040 S
015 C010040 LISBON
015 D010040 PORTUGAL
015 D020040 1200
015 E040040 X
015 A000041 THE HONG KONG & SHANGHAI BANKING CORP. LTD.
015 B000041 S
015 C010041 SHANGHAI
015 D010041 CHINA
015 E040041 X
015 A000042 THE HONG KONG & SHANGHAI BANKING CORP. LTD.
015 B000042 S
015 C010042 SHENZHEN
015 D010042 CHINA
015 E040042 X
015 A000043 THE CHASE MANHATTAN BANK, N.A.
015 B000043 S
015 C010043 SINGAPORE
015 D010043 SINGAPORE
015 D020043 0104
015 E040043 X
015 A000044 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000044 S
<PAGE> PAGE 7
015 C010044 BTATISLAVA
015 D010044 SLOVAK REPUBLIC
015 D020044 815 63
015 E040044 X
015 A000045 STANDARD BANK OF SOUTH AFRICA
015 B000045 S
015 C010045 JOHANNESBURG
015 D010045 SOUTH AFRICA
015 D020045 2001
015 E040045 X
015 A000046 THE HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B000046 S
015 C010046 SEOUL
015 D010046 SOUTH KOREA
015 E040046 X
015 A000047 THE CHASE MANHATTAN BANK, N.A.
015 B000047 S
015 C010047 MADRID
015 D010047 SPAIN
015 D020047 28042
015 E040047 X
015 A000048 THE HONGKONG & SHANGHAI BANKING CORP LTD.
015 B000048 S
015 C010048 COLOMBO
015 D010048 SRI LANKA
015 D020048 1
015 E040048 X
015 A000049 SKANDINAVISKA ENSKILDA BANKEN
015 B000049 S
015 C010049 STOCKHOLM
015 D010049 SWEDEN
015 D020049 S-106 40
015 E040049 X
015 A000050 UNION BANK OF SWITZERLAND
015 B000050 S
015 C010050 ZURICH
015 D010050 SWITZERLAND
015 D020050 8021
015 E040050 X
015 A000051 THE CHASE MANHATTAN BANK, N.A.
015 B000051 S
015 C010051 BANGKOK
015 D010051 THAILAND
015 D020051 10500
015 E040051 X
015 A000052 THE CHASE MANHATTAN BANK, N.A.
015 B000052 S
015 C010052 ISTANBUL
015 D010052 TURKEY
015 E040052 X
015 A000053 THE CHASE MANHATTAN BANK. N.A.
<PAGE> PAGE 8
015 B000053 S
015 C010053 LONDON
015 D010053 UNITED KINGDOM
015 D020053 EC2P 2HD
015 E040053 X
015 A000054 THE FIRST NATIONAL BANK OF BOSTON
015 B000054 S
015 C010054 MONTEVIDEO
015 D010054 URUGUAY
015 E040054 X
015 A000055 THE CHASE MANHATTAN BANK, N.A.
015 B000055 C
015 C010055 NEW YORK
015 C020055 NY
015 C030055 10081
015 E010055 X
015 A000056 CITIBANK N.A.
015 B000056 S
015 C010056 CARACAS
015 D010056 VENEZUELA
015 D020056 1010
015 E040056 X
015 A000057 BARCLAYS BANK OF ZAMBIA
015 B000057 S
015 C010057 LUSAKA
015 D010057 ZAMBIA
015 E040057 X
015 A000058 BARCLAYS BANK OF ZIMBABWE
015 B000058 S
015 C010058 HARARE
015 D010058 ZIMBABWE
015 E040058 X
015 A000059 FIRST CHICAGO CLEARING CENTRE
015 B000059 S
015 C010059 LONDON
015 D010059 UNITED KINGDOM
015 E040059 X
015 A000060 RESERVE BANK (AUST)
015 B000060 S
015 C010060 SYDNEY
015 D010060 AUSTRALIA
015 E040060 X
018 000000 Y
019 A000000 Y
019 B000000 195
019 C000000 FRNKTEMGRP
020 A000001 MORGAN GRENFELL
020 B000001 HONG KONG
020 C000001 413
020 A000002 MILDESA SERVICCEOS BERSAT
020 B000002 ARGENTINA
<PAGE> PAGE 9
020 C000002 261
020 A000003 GLOBAL SECURITIES
020 B000003 TURKEY
020 C000003 259
020 A000004 CARNEGIE INTERNATIONAL
020 B000004 PORTUGAL
020 C000004 180
020 A000005 SMITH NEWCOURT
020 B000005 HONG KONG
020 C000005 165
020 A000006 SIGECO LIMITED
020 B000006 UNITED KGD
020 C000006 160
020 A000007 D.S. PURBHOODAS
020 B000007 INDONESIA
020 C000007 156
020 A000008 BARING SECURITIES
020 B000008 ARGENTINA
020 C000008 146
020 A000009 UNIBANCO
020 B000009 BRAZIL
020 C000009 138
020 A000010 ACCIONES Y VALORES
020 B000010 MEXICO
020 C000010 126
021 000000 4306
022 A000001 CHASE MANHATTAN BANK
022 B000001 13-2633612
022 C000001 340147
022 D000001 720768
022 A000002 GLOBAL SECURITIES
022 B000002 TURKEY
022 C000002 13274
022 D000002 0
022 A000003 BELLE CORP
022 B000003 PHILIPPINE
022 C000003 13213
022 D000003 0
022 A000004 MORGAN GRENFELL
022 B000004 HONG KONG
022 C000004 6026
022 D000004 0
022 A000005 TEMPLETON INTERNATIONAL EMERGING MARKETS FUND
022 B000005 59-6935515
022 C000005 4562
022 D000005 0
022 A000006 NOMURA SECURITIES
022 B000006 HONG KONG
022 C000006 1919
022 D000006 0
022 A000007 SILVAS BARNARD JACOS
<PAGE> PAGE 10
022 B000007 SOUTH AFRA
022 C000007 1549
022 D000007 344
022 A000008 CAZENOVE & CO
022 B000008 HONG KONG
022 C000008 1775
022 D000008 0
022 A000009 MERRILL LYNCH
022 B000009 UNITED KGD
022 C000009 1725
022 D000009 0
022 A000010 JARDINE FLEMMINGES
022 B000010 HONG KONG
022 C000010 1089
022 D000010 116
023 C000000 3449841
023 D000000 721733
024 000000 N
025 A000001 DELETE
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
028 A010000 66850
028 A020000 0
028 A030000 0
028 A040000 39832
028 B010000 83278
028 B020000 1
028 B030000 0
028 B040000 38376
028 C010000 51645
028 C020000 7
028 C030000 0
028 C040000 43372
028 D010000 54795
028 D020000 -1
<PAGE> PAGE 11
028 D030000 0
028 D040000 49885
028 E010000 52220
028 E020000 0
028 E030000 0
028 E040000 75224
028 F010000 86844
028 F020000 50773
028 F030000 0
028 F040000 53387
028 G010000 395632
028 G020000 50780
028 G030000 0
028 G040000 300076
028 H000000 155047
029 000000 Y
030 A000000 15575
030 B000000 5.75
030 C000000 0.00
031 A000000 2087
031 B000000 0
032 000000 13488
033 000000 0
034 000000 Y
035 000000 18
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 100
043 000000 7442
044 000000 196
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.250
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
<PAGE> PAGE 12
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 100
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
<PAGE> PAGE 13
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
<PAGE> PAGE 14
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 716414
071 B000000 151422
071 C000000 1550699
071 D000000 10
072 A000000 12
072 B000000 31468
072 C000000 47626
072 D000000 0
072 E000000 0
072 F000000 26314
072 G000000 2154
072 H000000 0
072 I000000 3820
072 J000000 2562
072 K000000 700
072 L000000 920
072 M000000 89
072 N000000 230
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 65
072 S000000 15
072 T000000 7442
072 U000000 0
072 V000000 0
072 W000000 50
072 X000000 44361
072 Y000000 0
072 Z000000 34733
072AA000000 50654
072BB000000 13834
072CC010000 0
072CC020000 67444
072DD010000 32067
072DD020000 536
072EE000000 39219
073 A010000 0.2050
073 A020000 0.1848
073 B000000 0.2400
<PAGE> PAGE 15
073 C000000 0.0000
074 A000000 2195
074 B000000 0
074 C000000 362364
074 D000000 14425
074 E000000 169138
074 F000000 1641571
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 1688
074 K000000 0
074 L000000 20715
074 M000000 0
074 N000000 2212096
074 O000000 9432
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 13988
074 S000000 0
074 T000000 2188676
074 U010000 165081
074 U020000 3168
074 V010000 13.01
074 V020000 12.95
074 W000000 0.0000
074 X000000 253459
074 Y000000 0
075 A000000 0
075 B000000 2105511
076 000000 0.00
077 A000000 Y
077 B000000 Y
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000 130000
081 A000000 Y
081 B000000 194
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
<PAGE> PAGE 16
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE JAMES R. BAIO
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Templeton Developing Markets Trust December 31, 1995 annual report and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000878087
<NAME> TEMPLETON DEVELOPING MARKETS TRUST
<SERIES>
<NUMBER> 001
<NAME> CLASS 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 2203777954
<INVESTMENTS-AT-VALUE> 2187498258
<RECEIVABLES> 22403234
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2194680
<TOTAL-ASSETS> 2212096172
<PAYABLE-FOR-SECURITIES> 9431741
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13988374
<TOTAL-LIABILITIES> 23420115
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2196840023
<SHARES-COMMON-STOCK> 165080709
<SHARES-COMMON-PRIOR> 149707251
<ACCUMULATED-NII-CURRENT> 2196486
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6537420
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (16897872)
<NET-ASSETS> 2188676057
<DIVIDEND-INCOME> 47626262
<INTEREST-INCOME> 31467990
<OTHER-INCOME> 0
<EXPENSES-NET> 44361017
<NET-INVESTMENT-INCOME> 34733235
<REALIZED-GAINS-CURRENT> 36819502
<APPREC-INCREASE-CURRENT> (67443609)
<NET-CHANGE-FROM-OPS> 4109128
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (32067523)
<DISTRIBUTIONS-OF-GAINS> (38696973)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 48470874
<NUMBER-OF-SHARES-REDEEMED> (37809132)
<SHARES-REINVESTED> 4711716
<NET-CHANGE-IN-ASSETS> 179521869
<ACCUMULATED-NII-PRIOR> 2848467
<ACCUMULATED-GAINS-PRIOR> 6154792
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 26314151
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 44361017
<AVERAGE-NET-ASSETS> 2092926672
<PER-SHARE-NAV-BEGIN> 13.42
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> (.18)
<PER-SHARE-DIVIDEND> (.20)
<PER-SHARE-DISTRIBUTIONS> (.24)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.01
<EXPENSE-RATIO> 2.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Templeton Developing Markets Trust December 31, 1995 annual report and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000878087
<NAME> TEMPLETON DEVELOPING MARKETS TRUST
<SERIES>
<NUMBER> 002
<NAME> CLASS 2
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 2203777954
<INVESTMENTS-AT-VALUE> 2187498258
<RECEIVABLES> 22403234
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2194680
<TOTAL-ASSETS> 2212096172
<PAYABLE-FOR-SECURITIES> 9431741
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13988374
<TOTAL-LIABILITIES> 23420115
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2196840023
<SHARES-COMMON-STOCK> 3167973
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2196486
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6537420
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (16897872)
<NET-ASSETS> 2188676057
<DIVIDEND-INCOME> 47626262
<INTEREST-INCOME> 31467990
<OTHER-INCOME> 0
<EXPENSES-NET> 44361017
<NET-INVESTMENT-INCOME> 34733235
<REALIZED-GAINS-CURRENT> 36819502
<APPREC-INCREASE-CURRENT> (67443609)
<NET-CHANGE-FROM-OPS> 4109128
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (535755)
<DISTRIBUTIONS-OF-GAINS> (521839)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3421478
<NUMBER-OF-SHARES-REDEEMED> (319849)
<SHARES-REINVESTED> 66344
<NET-CHANGE-IN-ASSETS> 179521869
<ACCUMULATED-NII-PRIOR> 2848467
<ACCUMULATED-GAINS-PRIOR> 6154792
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 26314151
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 44361017
<AVERAGE-NET-ASSETS> 18747940
<PER-SHARE-NAV-BEGIN> 13.10
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> .19
<PER-SHARE-DIVIDEND> (.18)
<PER-SHARE-DISTRIBUTIONS> (.18)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.95
<EXPENSE-RATIO> 2.73
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
The Board of Trustees and Shareholders
Templeton Developing Markets Trust
In planning and performing our audit of the financial statements of Templeton
Developing Markets Trust for the year ended December 31, 1995, we considered its
internal control structure, including procedures for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on the internal control structure.
The management of Templeton Developing Markets Trust, is responsible for
establishing and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1995.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
/s/McGladrey & Pullen, LLP
MCGLADREY & PULLEN, LLP
New York, New York
January 31, 1996
