TXBL STKR 7/96o

                           FRANKLIN GROUP OF FUNDS(R)
                            TEMPLETON GROUP OF FUNDS
                        (the "Franklin Templeton Funds")
                              PROSPECTUS SUPPLEMENT
                               DATED JULY 1, 1996

1. The Fund's policy regarding  purchases by retirement plans at net asset value
(without a sales  charge) as  described in the section "How Do I Buy Shares?" or
"How  to Buy  Shares  of the  Fund(s)"  of the  prospectuses  for  the  Franklin
Templeton  Funds  listed below is revised as follows: 

The Fund's sales charges will not apply to purchases made by retirement plans
that (i) are sponsored by an employer with at least 100 employees,  (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.  Retirement  plans that
are not  "designated  plans" (as defined  in the  prospectus)  must also meet 
the  requirements  described  under "Group  Purchases." 

2. The Fund's policy regarding  purchases at net asset value is revised to add
the following: 

The Fund's sales charges, including contingent deferred sales charges, will not
apply to an annuity  payment  received under either an  annuity  option or from
death  benefit  proceeds,  PROVIDED  THAT the annuity  contract  offers  as one 
underlying investment option the Franklin Valuemark Funds, Templeton Variable  
Annuity  Fund,  the  Templeton  Variable Products Series Fund, or the Franklin
Government Securities Trust. The payment must be returned within 365 days of 
its payment date. Shareholders should contact  their tax  advisor for 
information  on any tax consequences of these purchases.

FRANKLIN GROUP OF FUNDS(R)
Franklin Equity Fund(R) Dated November 1, 1995,
as amended February 2, 1996,
as supplemented March 1, 1996

Franklin Custodian Funds, Inc.
(Growth, Utilities, DynaTech, Income and
U.S. Government Securities Series)
Dated February 1, 1996, as amended April 3, 1996

Franklin's Income Series
Franklin's U.S. Government Securities Series
Franklin Investment Grade Income Fund
Franklin Strategic Mortgage Portfolio
Dated February 1, 1996, as supplemented March 28, 1996

Franklin Rising Dividends Fund
Dated February 1, 1996, as supplemented March 1, 1996

AGE High Income Fund, Inc.
Dated October 1, 1995, as amended April 8, 1996

Franklin Gold Fund
Dated December 1, 1995, as supplemented March 1, 1996

Franklin Short-Intermediate
U.S. Government Securities Fund
Dated March 1, 1996, as supplemented March 28, 1996

Templeton Pacific Growth Fund
Franklin International Equity Fund
Franklin Adjustable U.S. Government
Securities Fund
Dated March 1, 1996, as supplemented June 18, 1996

Franklin Adjustable Rate Securities Fund 
Franklin Convertible Securities Fund
Franklin Equity Income Fund  
Franklin Global Government Income Fund 
Franklin Balance Sheet Investment Fund 
Franklin Templeton German  Government Income Fund
Franklin Templeton International 
Currency Funds 
(Global Currency, Hard Currency
and High Income Currency Funds) 
Dated March 1, 1996





Franklin Value Fund
Dated March 11, 1996

Franklin  MicroCap Value Fund 
Dated December 12, 1995, 
as supplemented May 31, 1996

Franklin Small Cap Growth Fund
Dated September 1, 1995,
as amended March 28, 1996

Franklin Natural Resources Fund 
Dated June 5, 1995,
 as supplemented  February 5, 1996
 and March 1, 1996

Franklin Premier Return Fund
Dated May 1, 1996

Franklin Real Estate Securities Fund 
Dated September 1, 1995, as amended March
19, 1996, as supplemented April 4, 1996

Franklin California Growth Fund
Dated September 1, 1995, as amended January 3,
1996, as supplemented March 1, 1996

Franklin Strategic Income Fund 
Dated September 1, 1995, as amended December 19,
1995, as supplemented March 1, 1996

Franklin Global Utilities Fund
Dated September 1, 1995, as amended January 10,
1996, as supplemented March 1, 1996

Franklin Global Health Care Fund
Dated September 1, 1995,
as amended April 18, 1996





TEMPLETON FUNDS
Templeton Growth Fund, Inc.
Templeton World Fund
Dated January 1, 1996,
as supplemented March 1, 1996

Templeton Foreign Fund
Templeton Global Real Estate Fund
Dated January 1, 1996, as amended May 15, 1996

Templeton Global Smaller Companies Fund, Inc.
Dated January 1, 1996,
as supplemented March 1, 1996 and May 15, 1996

Templeton Developing Markets Trust
Templeton American Trust, Inc.
Templeton Global Opportunities Trust
Dated May 1, 1996

Templeton Global Bond Fund
Dated January 1, 1996,
 as amended May 15, 1996

Templeton Global  Infrastructure  Fund 
Dated July 10, 1995, amended February 6,
1996, as supplemented March 1, 1996

Templeton Region Funds
Dated May 8, 1995, amended March 21, 1996

Templeton Americas Government
Securities Fund
Dated July 10, 1995,
as supplemented on July 26, 1995, 
August 8, 1995,  October 2, 1995,
December 5, 1995 , March 1, 1996,  
and May 23, 1996  

Templeton  Growth and Income Fund Dated
July 10, 1995, amended December 6, 1995,
 as supplemented March 1, 1996




Franklin Templeton Japan Fund
Dated August 1, 1995, amended February 29, 1996

(Each as may be further amended or supplemented from time-to-time)

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