416 STKP1
SUPPLEMENT DATED APRIL 21, 1998
TO THE PROSPECTUS OF
Templeton Americas Government Securities Fund
dated August 1, 1997
The prospectus is amended as follows:
I. The following paragraph is added to the end of the section "Group Purchases"
found under "How Do I Buy Shares? - Sales Charge Reductions and Waivers":
A qualified group does not include a 403(b) plan that only allows salary
deferral contributions. 403(b) plans that only allow salary deferral
contributions and that purchased shares of the Fund at a reduced sales charge
under the group purchase privilege before February 1, 1998, however, may
continue to do so.
II. The first two paragraphs and the first waiver category in the section "Sales
Charge Waivers," found under "How Do I Buy Shares? - Sales Charge Reductions and
Waivers," are replaced with the following:
Sales Charge Waivers. If one of the following sales charge waivers applies to
you or your purchase of Fund shares, you may buy shares of the Fund without a
front-end sales charge or a Contingent Deferred Sales Charge. Certain
distributions, payments or redemption proceeds that you receive may be used to
buy shares of the Fund without a sales charge if you reinvest them within 365
days of their payment or redemption date. They include: 1. Dividend and
capital gain distributions from any Franklin Templeton Fund or a real estate
investment trust (REIT) sponsored or advised by Franklin Properties, Inc. The
distributions generally must be reinvested in the same class of shares.
Certain exceptions apply, however, to Class II shareholders of another
Franklin Templeton Fund who chose to reinvest their distributions in the Fund
before November 17, 1997, and to Advisor Class or Class Z shareholders of a
Franklin Templeton Fund who may reinvest their distributions in the Fund.
III. The section "Retirement Plans," found under "How Do I Buy Shares? - Sales
Charge Reductions and Waivers," is replaced in its entirety with the following:
Retirement Plans. Retirement plans that (i) are sponsored by an employer with
at least 100 employees, or (ii) have plan assets of $1 million or more, or
(iii) agree to invest at least $500,000 in the Franklin Templeton Funds over a
13 month period may buy shares without a front-end sales charge. Retirement
plans that are not Qualified Retirement Plans, SIMPLEs or SEPs must also meet
the requirements described under "Group Purchases" above to be able to buy
shares without a front-end sales charge. We may enter into a special
arrangement with a Securities Dealer, based on criteria established by the
Fund, to add together certain small Qualified Retirement Plan accounts for the
purpose of meeting these requirements. For retirement plan accounts opened on
or after May 1, 1997, a Contingent Deferred Sales Charge may apply if the
retirement plan is transferred out of the Franklin Templeton Funds or
terminated within 365 days of the retirement plan account's initial purchase
in the Franklin Templeton Funds. Please see "How Do I Sell Shares? -
Contingent Deferred Sales Charge" for details. Any retirement plan that does
not meet the requirements to buy shares without a front-end sales charge and
that was a shareholder of the Fund on or before February 1, 1995, may buy
shares of the Fund subject to a maximum sales charge of 4% of the Offering
Price, 3.2% of which will be retained by Securities Dealers.
IV. The following replaces the second paragraph under "How Do I Sell Shares? -
Contingent Deferred Sales Charge": Certain retirement plan accounts opened on or
after May 1, 1997, and that qualify to buy shares without a front-end sales
charge may also be subject to a Contingent Deferred Sales Charge if the
retirement plan is transferred out of the Franklin Templeton Funds or terminated
within 365 days of the account's initial purchase in the Franklin Templeton
Funds.
V. The following definitions are revised or added, as applicable, to the "Useful
Terms and Definitions" section: Contingency Period - The 12 month period during
which a Contingent Deferred Sales Charge may apply. The holding period begins on
the day you buy your shares. For example, if you buy shares on the 18th of the
month, they will age one month on the 18th day of the next month and each
following month. SIMPLE (Savings Incentive Match Plan for Employees) - An
employer sponsored salary deferral plan established under section 408(p) of the
Code.
