TEMPLETON GLOBAL INVESTMENT TRUST
497, 1998-12-31
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                            SHARE CLASS REDESIGNATION
                            EFFECTIVE JANUARY 1, 1999

                         Class A  -  Formerly Class I
                         Class C  -  Formerly Class II      
                         (Growth and Income Fund, Global 
                         Infrastructure Fund, Greater 
                         European Fund and Latin American 
                         Fund Only)
- ------------------------------------------------------------------------------- 

                        SUPPLEMENT DATED JANUARY 1, 1999
                  TO THE STATEMENT OF ADDITIONAL INFORMATION OF
                        TEMPLETON GLOBAL INVESTMENT TRUST
                              DATED AUGUST 1, 1998

The Statement of Additional Information is amended as follows:

I.   As of  January 1, 1999,  Class I shares are  designated  Class A and Class
     II shares  are  designated  Class C. All  references  in the  Statement  of
     Additional Information to Class I shares are replaced with Class A, and all
     references to Class II shares are replaced with Class C.

II.  Under "Miscellaneous Information," the following is added:

     The Information  Services & Technology division of Resources  established a
     Year  2000  Project  Team in 1996.  This  team  has  already  begun  making
     necessary  software  changes to help the computer  systems that service the
     fund and its shareholders to be Year 2000 compliant. After completing these
     modifications,  comprehensive tests are conducted in one of Resources' U.S.
     test  labs to  verify  their  effectiveness.  Resources  continues  to seek
     reasonable  assurances from all major hardware,  software or  data-services
     suppliers  that  they  will be  Year  2000  compliant  on a  timely  basis.
     Resources  is also  beginning  to  develop a  contingency  plan,  including
     identification  of those mission critical systems for which it is practical
     to develop a  contingency  plan.  However,  in an  operation as complex and
     geographically  distributed as Resources' business, the alternatives to use
     of normal systems,  especially  mission  critical  systems,  or supplies of
     electricity or long distance voice and data lines are limited.

                 Please keep this supplement for future reference.



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