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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)
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SUPPLEMENT DATED APRIL 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. On February 26, 1999, Templeton Global Investment Trust's Board of
Trustees approved a proposal to merge the Templeton Growth and Income
Fund and the Templeton Global Infrastructure Fund into Templeton World
Fund, subject to shareholder approval. Templeton Funds, Inc.'s Board of
Directors also approved the merger on behalf of the Templeton World
Fund. The investment goal of Templeton Growth and Income Fund is high
total return (a combination of capital growth and income). The
investment goal of the Templeton Global Infrastructure Fund and
Templeton World Fund is long-term capital growth. The Boards believe
these proposed mergers will benefit shareholders.
It is anticipated that later this year shareholders of Templeton Growth
and Income Fund and Templeton Global Infrastructure Fund will receive a
proxy and proxy statement requesting their votes on the applicable
merger.
Templeton Growth and Income Fund and Templeton Global Infrastructure
Fund were closed to new investors after the close of business on
February 26, 1999. If you were a shareholder of record as of the close
of business on February 26, 1999, you may continue to add to your
account, subject to your applicable minimum additional investment
amount, or buy additional shares through reinvestment of dividends or
capital gain distributions.
Although you may redeem your shares, please keep in mind that if you
sell all the shares in your account, your account will be closed and
you will not be allowed to buy additional shares of Templeton Growth
and Income Fund and Templeton Global Infrastructure Fund, or to reopen
your account in those funds.
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II. 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.
III. The following is added to the section "Additional Information on
Selling Shares," found under "How Do I Buy, Sell and Exchange Shares?":
The contingent deferred sales charge will generally be waived for
redemptions of Class A shares by investors who purchased $1 million or
more without a front-end sales charge if Distributors did not make any
payment to the Securities Dealer of record in connection with the
purchase.
IV. 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.
