PAGE 1
000 B000000 12/31/99
000 C000000 878087
000 D000000 N
000 E000000 NC
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 9545277591
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
PAGE 2
008 A000001 TEMPLETON ASSET MANAGEMENT LTD
008 B000001 A
008 C000001 801-42353
008 D010001 HONG KONG
008 D050001 HONG KONG
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 PRICE WATERHOUSE COOPERS
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10036
015 A000001 CEDEL BANK, S.A.
015 B000001 S
015 C010001 LUXEMBOURG
015 D010001 LUXEMBOURG
015 E040001 X
015 A000002 THE CHASE MANHATTAN BANK
015 B000002 S
015 C010002 SYDNEY
015 D010002 AUSTRALIA
015 D020002 2000
015 E040002 X
015 A000003 BANK AUSTRIA AG
015 B000003 S
PAGE 3
015 C010003 VIENNA
015 D010003 AUSTRIA
015 D020003 A-1011
015 E040003 X
015 A000004 STANDARD CHARTERED BANK
015 B000004 S
015 C010004 DHAKA
015 D010004 BANGLADESH
015 D020004 1000
015 E040004 X
015 A000005 GENERALE BANK
015 B000005 S
015 C010005 BRUSSELS
015 D010005 BELGIUM
015 D020005 1000
015 E040005 X
015 A000006 EUROCLEAR
015 B000006 S
015 C010006 BRUSSELS
015 D010006 BELGIUM
015 E040006 X
015 A000007 CANADIAN IMPERIAL BANK OF COMMERCE
015 B000007 S
015 C010007 TORONTO
015 D010007 CANADA
015 D020007 M5L 1G9
015 E040007 X
015 A000009 CITITRUST COLUMBIA S.A.
015 B000009 S
015 C010009 SANTAFE DE BOGOTA
015 D010009 COLUMBIA
015 E040009 X
015 A000010 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000010 S
015 C010010 PRAGUE
015 D010010 CZECH REPUBLIC
015 D020010 115 20
015 E040010 X
015 A000011 DEN DANSKE BANK
015 B000011 S
015 C010011 COPENHAGEN
015 D010011 DENMARK
015 E040011 X
015 A000012 CITIBANK, N.A.
015 B000012 S
015 C010012 CAIRO
015 D010012 EGYPT
015 E040012 X
015 A000013 BANQUE GENERALE DU LUXEMBOURG S.A.
015 B000013 S
015 C010013 LUXEMBOURG
PAGE 4
015 D010013 LUXEMBOURG
015 D020013 L-2951
015 E040013 X
015 A000014 MERITA BANK LTD
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 DRESDNER BANK AG
015 B000016 S
015 C010016 FRANKFURT
015 D010016 GERMANY
015 E040016 X
015 A000017 BARCLAYS BANK OF GHANA LIMITED
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 D020018 10562
015 E040018 X
015 A000019 THE CHASE MANHATTAN BANK
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 D020020 H-1051
015 E040020 X
015 A000021 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000021 S
015 C010021 MUMBAI
015 D010021 INDIA
015 D020021 400 025
015 E040021 X
015 A000022 THE CYPRUS POPULAR BANK LTD.
015 B000022 S
015 C010022 NICOSIA
015 D010022 CYPRUS
PAGE 5
015 D020022 CY-1598
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 D020024 1
015 E040024 X
015 A000025 BANK LEUMI LE-ISRAEL B.M.
015 B000025 S
015 C010025 TEL AVIV
015 D010025 ISRAEL
015 D020025 61000
015 E040025 X
015 A000026 BANQUE PARIBAS
015 B000026 S
015 C010026 MILAN
015 D010026 ITALY
015 D020026 20121
015 E040026 X
015 A000027 THE FUJI BANK, LIMITED
015 B000027 S
015 C010027 TOKYO
015 D010027 JAPAN
015 E040027 X
015 A000028 THE CHASE MANHATTAN BANK (M) BERHAD
015 B000028 S
015 C010028 KUALA LUMPUR
015 D010028 MALAYSIA
015 D020028 50250
015 E040028 X
015 A000029 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000029 S
015 C010029 PORT LOUIS
015 D010029 MAURITIUS
015 E040029 X
015 A000030 THE CHASE MANHATTAN BANK MEXICO, S.A.
015 B000030 S
015 C010030 MEXICO D.F.
015 D010030 MEXICO
015 D020030 01210
015 E040030 X
015 A000031 BANQUE COMMERCIALE DU MAROC S.A.
015 B000031 S
015 C010031 CASABLANCA
PAGE 6
015 D010031 MOROCCO
015 D020031 20000
015 E040031 X
015 A000032 ABN AMRO N.V.
015 B000032 S
015 C010032 DE BREDA
015 D010032 NETHERLANDS
015 D020032 4800
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 ASA
015 B000034 S
015 C010034 OSLO
015 D010034 NORWAY
015 D020034 N-0107
015 E040034 X
015 A000035 CITIBANK, N.A.
015 B000035 S
015 C010035 KARACHI
015 D010035 PAKISTAN
015 D020035 74200
015 E040035 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 AND SHANGHAI BANKING CORP. LTD.
015 B000038 S
015 C010038 PASIG CITY
015 D010038 PHILIPPINES
015 E040038 X
015 A000039 BANK HANDLOWY W. WARSZAWIE S.A.
015 B000039 S
015 C010039 WARSAW
015 D010039 POLAND
015 D020039 00-950
015 E040039 X
015 A000040 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA SA
015 B000040 S
015 C010040 LISBON
015 D010040 PORTUGAL
015 D020040 1250
015 E040040 X
015 A000041 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000041 S
PAGE 7
015 C010041 SHANGHAI
015 D010041 CHINA
015 D020041 200120
015 E040041 X
015 A000042 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000042 S
015 C010042 SHENZHEN
015 D010042 CHINA
015 E040042 X
015 A000043 STANDARD CHARTERED BANK
015 B000043 S
015 C010043 SINGAPORE
015 D010043 SINGAPORE
015 D020043 049909
015 E040043 X
015 A000044 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B000044 S
015 C010044 BRATISLAVA
015 D010044 SLOVAK REPUBLIC
015 D020044 815 63
015 E040044 X
015 A000045 THE STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000045 S
015 C010045 JOHANNESBURG
015 D010045 SOUTH AFRICA
015 E040045 X
015 A000046 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000046 S
015 C010046 SEOUL
015 D010046 SOUTH KOREA
015 E040046 X
015 A000047 CHASE MANHATTAN BANK CMB, S.A.
015 B000047 S
015 C010047 MADRID
015 D010047 SPAIN
015 D020047 28046
015 E040047 X
015 A000048 THE HONGKONG AND 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 UBS AG
015 B000050 S
PAGE 8
015 C010050 ZURICH
015 D010050 SWITZERLAND
015 D020050 8021
015 E040050 X
015 A000051 THE CHASE MANHATTAN BANK
015 B000051 S
015 C010051 BANGKOK
015 D010051 THAILAND
015 D020051 10500
015 E040051 X
015 A000052 THE CHASE MANHATTAN BANK
015 B000052 S
015 C010052 ISTANBUL
015 D010052 TURKEY
015 D020052 80700
015 E040052 X
015 A000053 THE CHASE MANHATTAN BANK
015 B000053 S
015 C010053 LONDON
015 D010053 UNITED KINGDOM
015 D020053 EC2N 4AJ
015 E040053 X
015 A000054 BANKBOSTON, N.A.
015 B000054 S
015 C010054 MONTEVIDEO
015 D010054 URUGUAY
015 D020054 1463
015 E040054 X
015 A000055 THE CHASE MANHATTAN BANK
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 LIMITED
015 B000057 S
015 C010057 LUSAKA
015 D010057 ZAMBIA
015 E040057 X
015 A000058 BARCLAYS BANK OF ZIMBABWE LIMITED
015 B000058 S
015 C010058 HARARE
015 D010058 ZIMBABWE
015 E040058 X
015 A000059 HSBC BANK MIDDLE EAST
PAGE 9
015 B000059 S
015 C010059 RUWI, MUSCAT
015 D010059 OMAN
015 E040059 X
015 A000060 DELETE
015 A000061 BARCLAYS BANK OF BOTSWANA LIMITED
015 B000061 S
015 C010061 GABORONE
015 D010061 BOTSWANA
015 E040061 X
015 A000062 BARCLAYS BANK OF KENYA LIMITED
015 B000062 S
015 C010062 NAIROBI
015 D010062 KENYA
015 E040062 X
015 A000063 CHASE MANHATTAN BANK INTERNATIONAL
015 B000063 S
015 C010063 MOSCOW
015 D010063 RUSSIA
015 D020063 125047
015 E040063 X
015 A000064 THE CHASE MANHATTAN BANK
015 B000064 S
015 C010064 TAIPEI
015 D010064 TAIWAN
015 E040064 X
015 A000065 CITIBANK, N.A.
015 B000065 S
015 C010065 QUITO
015 D010065 ECUADOR
015 E040065 X
015 A000066 STANDARD BANK NAMIBIA LIMITED
015 B000066 S
015 C010066 WINDHOEK
015 D010066 NAMIBIA
015 E040066 X
015 A000068 THE FIRST NATIONAL BANK OF CHICAGO
015 B000068 S
015 C010068 LONDON
015 D010068 UNITED KINGDOM
015 D020068 NW1 3FN
015 E040068 X
015 A000069 DELETE
015 A000070 HSBC BANK MIDDLE EAST
015 B000070 S
015 C010070 MANAMA
015 D010070 BAHRAIN
015 E040070 X
015 A000071 ARAB BANK LIMITED
015 B000071 S
015 C010071 SHMEISANI
PAGE 10
015 D010071 JORDAN
015 E040071 X
015 A000072 HSBC BANK OF MIDDLE EAST
015 B000072 S
015 C010072 RAS-BEIRUT
015 D010072 LEBANON
015 E040072 X
015 A000073 THE BANK OF BERMUDA LIMITED
015 B000073 S
015 C010073 HAMILTON
015 D010073 BERMUDA
015 D020073 HMDX
015 E040073 X
015 A000074 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B000074 S
015 C010074 ABIDJAN
015 D010074 IVORY COAST
015 D020074 01
015 E040074 X
015 A000075 ING BANK N.V.
015 B000075 S
015 C010075 BUCHAREST
015 D010075 ROMANIA
015 E040075 X
015 A000076 BANK AUSTRIA D.D. LJUBLJANA
015 B000076 S
015 C010076 LJUBLJANA
015 D010076 SLOVENIA
015 D020076 SL-61104
015 E040076 X
015 A000077 CITIBANK, N.A.
015 B000077 S
015 C010077 SAO PAULO
015 D010077 BRAZIL
015 D020077 SP 01311-920
015 E040077 X
015 A000078 ING BANK N.V.
015 B000078 S
015 C010078 SOFIA
015 D010078 BULGARIA
015 D020078 1000
015 E040078 X
015 A000079 PRIVREDNA BANKA ZAGREB D.D.
015 B000079 S
015 C010079 ZAGREB
015 D010079 CROATIA
015 D020079 10000
015 E040079 X
015 A000080 HANSABANK
015 B000080 S
015 C010080 TALLINN
PAGE 11
015 D010080 ESTONIA
015 D020080 EE0001
015 E040080 X
015 A000081 HANSABANK - LATVIJA
015 B000081 S
015 C010081 RIGA
015 D010081 LATVIA
015 D020081 LV 1050
015 E040081 X
015 A000082 VILNIAUS BANKAS AB
015 B000082 S
015 C010082 VILNIUS
015 D010082 LITHUANA
015 D020082 LT 2662
015 E040082 X
018 000000 Y
019 A000000 Y
019 B000000 234
019 C000000 FRNKTEMGRP
020 A000001 UBS LONDON
020 B000001 LONDON
020 C000001 1985
020 A000002 MERRILL LYNCH
020 B000002 13-5674085
020 C000002 1050
020 A000003 CREDIT LYONNAIS
020 B000003 13-2602298
020 C000003 913
020 A000004 DEUTSCHE BANK SECURITIES
020 B000004 13-2730828
020 C000004 639
020 A000005 ACCIONES Y VALORES
020 B000005 MEXICO
020 C000005 579
020 A000006 JARDINE FLEMING INTL
020 B000006 HONG KONG
020 C000006 494
020 A000007 ABN AMRO INCORPORATED
020 B000007 13-227945
020 C000007 464
020 A000008 BANQUE NATL D PARIS
020 B000008 SINGAPORE
020 C000008 435
020 A000009 BARNARD JACOBS MELLET LTD
020 B000009 S AFRICA
020 C000009 339
020 A000010 HYUNDIA SECURITIES CO
020 B000010 KOREA
020 C000010 325
021 000000 10329
022 A000001 CHASE MANHATTAN BANK
PAGE 12
022 B000001 13-3112953
022 C000001 344328
022 D000001 275030
022 A000002 FIRST TENNESSEE BANK
022 B000002 62-0201385
022 C000002 297720
022 D000002 313561
022 A000003 BBN JAMES CAPEL
022 B000003 CANADA
022 C000003 273165
022 D000003 316017
022 A000004 DEUTSCHE BANK SECURITIES
022 B000004 13-2730828
022 C000004 175591
022 D000004 115742
022 A000005 ABN AMRO EQUITIES UK
022 B000005 U KINGDOM
022 C000005 51385
022 D000005 117837
022 A000006 MERRILL LYNCH
022 B000006 13-2629351
022 C000006 107049
022 D000006 44853
022 A000007 PAINE WEBBER
022 B000007 13-2638166
022 C000007 15581
022 D000007 49376
022 A000008 LEMAN BROTHERS
022 B000008 13-2518466
022 C000008 2844
022 D000008 25796
022 A000009 BRUNSWICK WARBURG INC.
022 B000009 13-1939216
022 C000009 14274
022 D000009 9684
022 A000010 BANK OF AMERICA
022 B000010 94-1687665
022 C000010 11897
022 D000010 8598
023 C000000 1298688
023 D000000 1291540
024 000000 Y
025 A000001 UNIBANCO
025 B000001 BRAZIL
025 C000001 E
025 D000001 13055
025 A000002 BANK AUSTRIA AG
025 B000002 AUSTRIA
025 C000002 E
025 D000002 32037
025 D000003 0
PAGE 13
025 D000004 0
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028 E040000 328774
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PAGE 14
033 000000 0
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PAGE 15
054 A000000 Y
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PAGE 16
067 000000 N
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070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
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070 J020000 Y
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PAGE 17
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PAGE 18
074 S000000 0
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SIGNATURE /s/JAMES R. BAIO
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON DEVELOPING MARKETS TRUST FUND DECEMBER 31, 1999 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> TEMPLETON DEVELOPING MARKETS TRUST - CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 2834478980
<INVESTMENTS-AT-VALUE> 3545359264
<RECEIVABLES> 28914581
<ASSETS-OTHER> 3756143
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3578029988
<PAYABLE-FOR-SECURITIES> 7986433
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21932359
<TOTAL-LIABILITIES> 3548111196
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3553837034
<SHARES-COMMON-STOCK> 189481055
<SHARES-COMMON-PRIOR> 211001257
<ACCUMULATED-NII-CURRENT> 5930357
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (722536479)
<ACCUM-APPREC-OR-DEPREC> 710880284
<NET-ASSETS> 3548111196
<DIVIDEND-INCOME> 71439253
<INTEREST-INCOME> 1759847
<OTHER-INCOME> 0
<EXPENSES-NET> (61936046)
<NET-INVESTMENT-INCOME> 11263054
<REALIZED-GAINS-CURRENT> (508711215)
<APPREC-INCREASE-CURRENT> 1731873282
<NET-CHANGE-FROM-OPS> 1234425121
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 197849068
<NUMBER-OF-SHARES-REDEEMED> (219369270)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 965074764
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (925071)
<OVERDIST-NET-GAINS-PRIOR> (218232890)
<GROSS-ADVISORY-FEES> (37123994)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (61936046)
<AVERAGE-NET-ASSETS> 2969919511
<PER-SHARE-NAV-BEGIN> 10.30
<PER-SHARE-NII> 0.06<F1>
<PER-SHARE-GAIN-APPREC> 5.25<F1>
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.61
<EXPENSE-RATIO> 2.02
<FN>
<F1>BASED ON AVERAGE WEIGHTED SHARES OUTSTANDING.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON DEVELOPING MARKETS TRUST FUND DECEMBER 31, 1999 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> TEMPLETON DEVELOPING MARKETS TRUST - CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 2834478980
<INVESTMENTS-AT-VALUE> 3545359264
<RECEIVABLES> 28914581
<ASSETS-OTHER> 3756143
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3578029988
<PAYABLE-FOR-SECURITIES> 7986433
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21932359
<TOTAL-LIABILITIES> 3548111196
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3553837034
<SHARES-COMMON-STOCK> 895872
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 5930357
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (722536479)
<ACCUM-APPREC-OR-DEPREC> 710880284
<NET-ASSETS> 3548111196
<DIVIDEND-INCOME> 71439253
<INTEREST-INCOME> 1759847
<OTHER-INCOME> 0
<EXPENSES-NET> (61936046)
<NET-INVESTMENT-INCOME> 11263054
<REALIZED-GAINS-CURRENT> (508711215)
<APPREC-INCREASE-CURRENT> 1731873282
<NET-CHANGE-FROM-OPS> 1234425121
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 928527
<NUMBER-OF-SHARES-REDEEMED> (32655)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 965074764
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (925071)
<OVERDIST-NET-GAINS-PRIOR> (218232890)
<GROSS-ADVISORY-FEES> (37123994)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (61936046)
<AVERAGE-NET-ASSETS> 2969919511
<PER-SHARE-NAV-BEGIN> 10.30
<PER-SHARE-NII> (0.06)<F1>
<PER-SHARE-GAIN-APPREC> 5.23<F1>
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.47
<EXPENSE-RATIO> 2.76<F2>
<FN>
<F1>BASED ON AVERAGE WEIGHTED SHARES OUTSTANDING.
<F2>ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON DEVELOPING MARKETS TRUST FUND DECEMBER 31, 1999 ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000878087
<NAME> TEMPLETON DEVELOPING MARKETS TRUST
<SERIES>
<NUMBER> 003
<NAME> TEMPLETON DEVELOPING MARKETS TRUST - CLASS C
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 2834478980
<INVESTMENTS-AT-VALUE> 3545359264
<RECEIVABLES> 28914581
<ASSETS-OTHER> 3756143
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3578029988
<PAYABLE-FOR-SECURITIES> 7986433
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21932359
<TOTAL-LIABILITIES> 3548111196
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3553837034
<SHARES-COMMON-STOCK> 25098697
<SHARES-COMMON-PRIOR> 28852357
<ACCUMULATED-NII-CURRENT> 5930357
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (722536479)
<ACCUM-APPREC-OR-DEPREC> 710880284
<NET-ASSETS> 3548111196
<DIVIDEND-INCOME> 71439253
<INTEREST-INCOME> 1759847
<OTHER-INCOME> 0
<EXPENSES-NET> (61936046)
<NET-INVESTMENT-INCOME> 11263054
<REALIZED-GAINS-CURRENT> (508711215)
<APPREC-INCREASE-CURRENT> 1731873282
<NET-CHANGE-FROM-OPS> 1234425121
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8925949
<NUMBER-OF-SHARES-REDEEMED> (12679609)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 965074764
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (925071)
<OVERDIST-NET-GAINS-PRIOR> (218232890)
<GROSS-ADVISORY-FEES> (37123994)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (61936046)
<AVERAGE-NET-ASSETS> 2969919511
<PER-SHARE-NAV-BEGIN> 10.21
<PER-SHARE-NII> (0.03)<F1>
<PER-SHARE-GAIN-APPREC> 5.18<F1>
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.36
<EXPENSE-RATIO> 2.73
<FN>
<F1>BASED ON AVERAGE WEIGHTED SHARES OUTSTANDING.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON DEVELOPING MARKETS TRUST FUND DECEMBER 31, 1999 ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000878087
<NAME> TEMPLETON DEVELOPING MARKETS TRUST
<SERIES>
<NUMBER> 004
<NAME> TEMPLETON DEVELOPING MARKETS TRUST - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 2834478980
<INVESTMENTS-AT-VALUE> 3545359264
<RECEIVABLES> 28914581
<ASSETS-OTHER> 3756143
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3578029988
<PAYABLE-FOR-SECURITIES> 7986433
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21932359
<TOTAL-LIABILITIES> 3548111196
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3553837034
<SHARES-COMMON-STOCK> 12187808
<SHARES-COMMON-PRIOR> 11237082
<ACCUMULATED-NII-CURRENT> 5930357
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (722536479)
<ACCUM-APPREC-OR-DEPREC> 710880284
<NET-ASSETS> 3548111196
<DIVIDEND-INCOME> 71439253
<INTEREST-INCOME> 1759847
<OTHER-INCOME> 0
<EXPENSES-NET> (61936046)
<NET-INVESTMENT-INCOME> 11263054
<REALIZED-GAINS-CURRENT> (508711215)
<APPREC-INCREASE-CURRENT> 1731873282
<NET-CHANGE-FROM-OPS> 1234425121
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7552205
<NUMBER-OF-SHARES-REDEEMED> (6601479)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 965074764
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (925071)
<OVERDIST-NET-GAINS-PRIOR> (218232890)
<GROSS-ADVISORY-FEES> (37123994)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (61936046)
<AVERAGE-NET-ASSETS> 2969919511
<PER-SHARE-NAV-BEGIN> 10.28
<PER-SHARE-NII> 0.09<F1>
<PER-SHARE-GAIN-APPREC> 5.25<F1>
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.62
<EXPENSE-RATIO> 1.74
<FN>
<F1>BASED ON AVERAGE WEIGHTED SHARES OUTSTANDING.
</FN>
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Trustees and Shareholders of
Templeton Developing Markets Trust
In planning and performing our audit of the financial statements of Templeton
Developing Markets Trust (the "Fund") for the year ended December 31, 1999, we
considered its internal control, including control activities 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 internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that controls may become inadequate
because of changes in conditions or that the effectiveness of their design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control 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 one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud 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
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of the Board of
Trustees, management and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these specified
parties
/s/PRICEWATERHOUSECOOPERS LLP
New York, New York
January 28, 2000
TEMPLETON DEVELOPING MARKETS TRUST
CHANGE IN INDEPENDENT AUDITOR
On August 13, 1999, McGladrey & Pullen, LLP (McGladrey) resigned as independent
auditors of the Fund. McGladrey resigned pursuant to their agreement to sell
their investment company practice to PricewaterhouseCoopers LLP (PwC). The
McGladrey partners and professionals previously serving the Fund, have joined
PwC and performed the December 31, 1999 audit.
None of the reports of McGladrey on the financial statements of the Fund,
including those of the past two fiscal years have ever contained an adverse
opinion or a disclaimer of opinion, or was qualified or modified as to
uncertainty, audit scope or accounting principles.
During the period McGladrey served the Fund, including the two most recent
fiscal years and subsequent interim period, there were no disagreements with
McGladrey on any matter of accounting principle or practices, financial
statement disclosure, or auditing scope or procedure, which disagreements, if
not resolved to the satisfaction of McGladrey would have caused it to make
reference to the subject matter of disagreement in connection with its report.
On October 21, 1999, the Fund, with the approval of its Board of Trustees and
its Audit Committee, engaged PwC as its independent auditors.
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street
Washington D.C. 20549
We were previously the independent accountants for Templeton Developing Markets
Trust. We have read their notification of change in independent accountants made
in Item 77K of Form N-SAR. We agree with the statements in the filing.
/s/MCGLADREY & PULLEN, LLP
New York, New York
February 29, 2000
