SCHEDULE 14A INFORMATION

     Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
(Amendment No.)

Filed by the Registrant x
Filed by a Party other than the Registrant o

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o     Preliminary Proxy Statement
o     Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
o     Definitive Proxy Statement
xDefinitive Additional Materials
o     Soliciting Material Pursuant to Section 240.14a -12

FRANKLIN CALIFORNIA TAX-FREE INCOME FUND, INC. FRANKLIN CALIFORNIA TAX-FREE TRUST FRANKLIN CAPITAL GROWTH FUND FRANKLIN CUSTODIAN FUNDS, INC. FRANKLIN GLOBAL TRUST FRANKLIN GOLD AND PRECIOUS METALS FUND FRANKLIN HIGH INCOME TRUST FRANKLIN INVESTORS SECURITIES TRUST FRANKLIN MANAGED TRUST FRANKLIN MUNICIPAL SECURITIES TRUST FRANKLIN MUTUAL SERIES FUND INC. FRANKLIN NEW YORK TAX-FREE INCOME FUND FRANKLIN NEW YORK TAX-FREE TRUST FRANKLIN REAL ESTATE SECURITIES TRUST FRANKLIN STRATEGIC MORTGAGE PORTFOLIO	FRANKLIN STRATEGIC SERIES FRANKLIN TAX-FREE TRUST FRANKLIN TEMPLETON FUND ALLOCATOR SERIES FRANKLIN TEMPLETON GLOBAL TRUST FRANKLIN TEMPLETON INTERNATIONAL TRUST FRANKLIN TEMPLETON MONEY FUND TRUST FRANKLIN VALUE INVESTORS TRUST INSTITUTIONAL FIDUCIARY TRUST THE MONEY MARKET PORTFOLIOS TEMPLETON CHINA WORLD FUND TEMPLETON DEVELOPING MARKETS TRUST TEMPLETON FUNDS, INC. TEMPLETON GLOBAL SMALLER COMPANIES FUND TEMPLETON INCOME TRUST TEMPLETON INSTITUTIONAL FUNDS, INC.
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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xNo fee required.

o   Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

1.	Title of each class of securities to which transaction applies:
2.	Aggregate number of securities to which transaction applies:
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4.	Proposed maximum aggregate value of transaction:
5.	Total fee paid:

oFee paid previously with preliminary proxy materials.

o Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

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Daily Announcements
Category:	Company News, Fund Updates & Media Coverage
Source:	Legal Dept & Transfer Agent / Heidi Croel
Topic:	Complex-Wide Proxy Vote for Franklin Templeton Open-End Funds

Employees invested in Franklin, Templeton, or Mutual Series funds will receive a Complex-Wide Proxy Statement and one or more ballots in the mail. This is the largest proxy campaign that Franklin Templeton has conducted in over 10 years, and all shareholders are encouraged to vote as soon as possible. At a high level, shareholders are voting on:

• All funds are voting to elect their current Board of Trustees or Directors.

• A select group of funds are reorganizing into Delaware statutory trusts and/or are amending their current organizational documents.

• Some funds are amending or eliminating certain fundamental investment restrictions.

• One fund (the Franklin Templeton Money Fund Class B) is voting to provide for an automatic conversion to the Class A shares of the fund.

We urge you to review the proxy materials and vote your shares.

FRANKLIN TEMPLETON INVESTMENTS

February, 2007

YOUR IMMEDIATE ATTENTION IS REQUIRED

Dear Shareholder:

Our records indicate that we have not received your vote on important proposals affecting your investment in one or more Franklin Templeton Funds. For the reasons set forth in the proxy materials previously delivered to you, EACH FUND’S BOARD OF TRUSTEES/DIRECTORS UNANIMOUSLY RECOMMENDS THAT YOU VOTE IN FAVOR OF THE PROPOSALS APPLICABLE TO YOUR FUND AND BELIEVES THE PROPOSALS ARE IN THE BEST INTEREST OF SUCH FUND’S SHAREHOLDERS.

YOUR VOTE IS IMPORTANT! Please take a moment now to vote your shares. For your convenience, we are enclosing another proxy card along with a pre-paid postage envelope.

Choose ONE of the following methods to vote your shares:

TO SPEAK TO A PROXY VOTING SPECIALIST: Dial toll-free 1-877-777-3418 and a representative from MIS, an ADP Company, will assist you with voting your shares and answer any of your proxy related questions. Representatives are available 9:00 a.m. – 9:00 p.m. (Eastern Time), Monday-Friday and Saturday 10:00 a.m. to 6:00 p.m. (Eastern Time).

VOTE BY TOUCH-TONE: Dial the toll-free touch-tone voting number listed on your proxy card, enter the CONTROL NUMBER printed on your proxy card and follow the simple instructions. Telephone voting is available 24 hours a day, 7 days a week. THIS CALL IS TOLL-FREE. If you have received more than one proxy card, you can vote each card during the call. Each card has a different control number.

VOTE VIA THE INTERNET: Go to the website listed on your proxy card, enter the CONTROL NUMBER printed on your proxy card and follow the simple instructions. If you have received more than one proxy card, you can vote each card on the website. Each card has a different control number.

VOTE BY MAIL: Sign and date the enclosed proxy card and mail back using the enclosed prepaid postage envelope.

YOUR VOTE IS IMPORTANT; PLEASE VOTE YOUR SHARES TODAY!