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SUPPLEMENT DATED FEBRUARY 26, 1999
TO THE PROSPECTUS OF
TEMPLETON GROWTH AND INCOME FUND
dated August 1, 1998, as amended January 1, 1999
On February 26, 1999, Templeton Global Investment Trust's Board of Trustees
approved a proposal to merge the Templeton Growth and Income Fund into Templeton
World Fund, subject to shareholder approval. Templeton Funds, Inc.'s Board of
Directors also approved the merger on behalf of 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 Templeton
World Fund is long-term capital growth. The Boards believe this proposed merger
will benefit shareholders.
It is anticipated that later this year shareholders of Templeton Growth and
Income Fund will receive a proxy and proxy statement requesting their votes on
the merger.
Templeton Growth and Income Fund will be closed to new investors after the close
of business on February 26, 1999. If you are 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 dividend 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 or to
reopen your account in the fund. If you sell your shares in the fund, you may
reinvest some or all of the proceeds in most of the other Franklin Templeton
Funds within 365 days without an initial sales charge. The proceeds must be
reinvested within the same share class.
Please keep this supplement for future reference.
