SUPPLEMENT TO THE PROSPECTUS
Prospectus dated July 28, 1994
(as previously supplemented January 25, 1995, February 1, 1995 and March 1,
1995)
Franklin Templeton Japan Fund
Effective April 15, 1995, the Fund's Business Manager, Templeton Global
Investors, Inc., has agreed to limit the total expenses (excluding interest,
taxes, brokerage commissions and extraordinary expenses) of the Fund to an
annual rate of 2.00% of the Fund's average daily net assets. As long as this
temporary expense limitation continues, it may lower the Fund's expenses and
increase its total return. This expense limitation may be terminated or
revised at any time, at which time the Fund's expenses may increase and its
total return may be reduced, depending on the total assets of the Fund.
April 15, 1995 TL417 STKR1 04/95
