711 STKP
SUPPLEMENT DATED AUGUST 3, 1998
TO THE PROSPECTUS OF
TEMPLETON DEVELOPING MARKETS TRUST
dated May 1, 1998
The prospectus is amended as follows:
I. The second step in the section "How Do I Buy Shares? - Opening Your Account"
is replaced with the following:
2. Determine how much you would like to invest. The fund's minimum
investments are:
<TABLE>
<CAPTION>
<S> <C> <C>
/bullet/ To open a regular, non-retirement account .................... $1,000
/bullet/ To open an IRA, IRARollover, Roth IRA, or Education IRA ....... $ 250*
/bullet/ To open a custodial account for a minor (an UGMA/UTMA account). $ 100
/bullet/ To open an account with an automatic investment plan .......... $ 50**
/bullet/ To add to an account .......................................... $ 50***
<FN>
*For all other retirement accounts, there is no minimum investment
requirement.
**$25 for an Education IRA.
***For all retirement accounts except IRAs, IRA Rollovers, Roth IRAs, or
Education IRAs, there is no minimum to add to an account.
</FN>
</TABLE>
For purchases by broker-dealers, registered investment advisors or
certified financial planners who have entered into an agreement with
Distributors for clients participating in comprehensive fee programs, the
minimum initial investment is $250. The minimum initial investment is $100 for
officers, trustees, directors and full-time employees of the Franklin Templeton
Funds or the Franklin Templeton Group, and their family members, consistent with
our then-current policies.
We reserve the right to change the amount of these minimums from time to
time or to waive or lower these minimums for certain purchases. We also reserve
the right to refuse any order to buy shares.
II. The following new category 8 is added to the end of the first list of sales
charge waiver categories in the section "Sales Charge Waivers," found under "How
Do I Buy Shares? - Sales Charge Reductions and Waivers":
8. Redemption proceeds from a repurchase of shares of Franklin
Floating Rate Trust, if the shares were continuously held for at least
12 months.
If you immediately placed your redemption proceeds in a Franklin Bank CD or
a Franklin Templeton money fund, you may reinvest them as described above. The
proceeds must be reinvested within 365 days from the date the CD matures,
including any rollover, or the date you redeem your money fund shares.
III. The following new category 12 is added to the end of the second list of
sales charge waiver categories in the section "Sales Charge Waivers," found
under "How Do I Buy Shares? - Sales Charge Reductions and Waivers":
12. Qualified registered investment advisors who buy through a
broker-dealer or service agent who has entered into an agreement with
Distributors
IV. The first paragraph under "May I Exchange Shares for Shares of Another Fund?
- - Will Sales Charges Apply to My Exchange?" is replaced with the following:
You generally will not pay a front-end sales charge on exchanges. If you
have held your shares less than six months, however, you will pay the
percentage difference between the sales charge you previously paid and the
applicable sales charge of the new fund, if the difference is more than
0.25%. If you have never paid a sales charge on your shares because, for
example, they have always been held in a money fund, you will pay the
fund's applicable sales charge no matter how long you have held your
shares. These charges may not apply if you qualify to buy shares without a
sales charge.
V.The following new item is added under "May I Exchange Shares for Shares of
Another Fund? - Exchange Restrictions":
/bullet/ You must meet the applicable minimum investment amount of the
fund you are exchanging into, or exchange 100% of your fund
shares.
VI. The section "Keeping Your Account Open," found under "Transaction Procedures
and Special Requirements," is replaced in its entirety with the following:
Keeping Your Account Open
Due to the relatively high cost of maintaining a small account, we may close
your account if the value of your shares is less than $250, or less than $50
for employee accounts and custodial accounts for minors. We will only do this
if the value of your account fell below this amount because you voluntarily
sold your shares and your account has been inactive (except for the
reinvestment of distributions) for at least six months. Before we close your
account, we will notify you and give you 30 days to increase the value of your
account to $1,000, or $100 for employee accounts and custodial accounts for
minors. These minimums do not apply to IRAs and other retirement plan accounts
or to accounts managed by the Franklin Templeton Group.
Please keep this supplement for future reference.
