EX-99.U 30 exhibit99_u.htm VOTES NECESSARY TO APPROVE THE PROPOSAL

EXHIBIT U

VOTES NECESSARY TO APPROVE THE PROPOSAL

                                 Proposal  Fund  Vote Needed 
Proposal 1 – To elect a Board of    All Funds    Plurality (voting by Fund as a whole) 
Trustees/Directors     
 
 
Proposal 2 – To approve  Franklin California Tax-Free Income  The affirmative vote of the lesser of 
an Agreement and Plan of  Fund, Inc., Franklin Custodian  (i) more than 50% of the outstanding 
Reorganization that provides for  Funds, Inc., Franklin Mutual Series  shares of the Fund (or series, if 
the reorganization of the Fund to a  Fund Inc., Templeton Funds, Inc. and  applicable) or (ii) 67% or more of 
Delaware statutory trust.  Templeton Institutional Funds, Inc.  the outstanding shares of the Fund 
    (or series if applicable) present at 
    the meeting, if the holders of more 
    than 50% of the Fund’s (or series’) 
    outstanding shares are present or 
    represented by proxy (a “1940 Act 
    Majority Vote”) (voting by Fund as a 
    whole and not by series) 
 
 
  Franklin California Tax-Free Trust,  Majority of the outstanding shares 
  Franklin Investors Securities Trust,  (voting by Fund and by series 
  Franklin New York Tax-Free Trust,  thereof, if any) 
  Franklin Tax-Free Trust, Franklin   
Value Investors Trust, Institutional
  Fiduciary Trust and Templeton   
  Income Trust   
 
Proposal 3 – To approve an  Franklin Capital Growth Fund,  Majority of the shares voted (voting 
Amended and Restated Agreement  Franklin Global Trust, Franklin  separately by series thereof, if any, 
and Declaration of Trust  Gold and Precious Metals Fund,  for a Fund) 
  Franklin High Income Trust,   
Franklin Managed Trust, Franklin
Municipal Securities Trust, Franklin
  New York Tax-Free Income Fund,   
  Franklin Real Estate Securities   
Trust, Franklin Strategic Mortgage
Portfolio, Franklin Strategic Series,
Franklin Templeton Fund Allocator
  Series, Franklin Templeton   
  Global Trust, Franklin Templeton   
  International Trust, Franklin   
  Templeton Money Fund Trust   
 
  The Money Market Portfolios, 1940 Act Majority Vote   
Franklin Mutual Recovery Fund

U-1


Proposal 4 – To approve    All Funds listed on Exhibit L-1    1940 Act Majority Vote (voting by 
amendments to certain fundamental    series) 
investment restrictions (include eight     
(8) sub-proposals)     
 
 
Proposal 5 - To approve the  All Funds listed on Exhibit N-1  1940 Act Majority Vote (voting by 
elimination of certain fundamental    series) 
investment restrictions     
 
 
Proposal 6 – To approve the  Franklin New York Tax-Free Income  1940 Act Majority Vote (voting by 
reclassification of certain  Fund, Franklin Limited Maturity  series) 
fundamental investment policies as  U.S. Government Securities Fund,   
non-fundamental  Emerging Markets Series, IFT   
  Money Market Portfolio, Franklin   
  Templeton Hard Currency Fund,   
  Franklin Rising Dividends Fund,   
Franklin U.S. Long-Short Fund and
Templeton Global Long-Short Fund
 
 
Proposal 7 – To approve the  Franklin Templeton Money Fund  Majority of the Class B shares voted 
amendment of the rights and     
preferences of the Class B shares     
to provide for their automatic     
conversion to Class A shares after     
eight years     

U-2




                            FRANKLIN TEMPLETON INVESTMENTS






  MIS EDITS:      # OF CHANGES        /        PRF 1         PRF 2         
  
LABEL BELOW FOR MIS USE ONLY!
PO#
FRANKLIN TEMPLETON COMPLEXWIDE
FORMS CALL - SINGLES
COMMON FRONT FOR 40 BACKS
ORIGINAL 12-04-06 KD
MATT (FRANKLIN TEMPLETON BOARD 1 FC SINGLE 2007
MM)		 OK TO PRINT AS IS* _________________ *By signing this form you are authorizing MIS to print this form in its current state.
 
SIGNATURE OF PERSON AUTHORlZING PRINTING       DATE     
 
 


 THREE EASY WAYS TO VOTE 
 To vote by Telephone     To vote by Internet   To vote by Mail 
   1) Read the proxy statement and have the Proxy Card at hand.      1)   Read the proxy statement and have the Proxy Card at hand.      1)   Read the Proxy Statement.
   2) Call 1-888-221-0697.    2) Go to www.proxyweb.com 2) Check the appropriate boxes on the reverse side.
   3) Follow the recorded instructions. 3) Follow the on-line directions.    3) Sign and date the proxy card.
                  4)   Return the proxy card in the envelope provided.
IF YOU VOTE BY TELEPHONE OR INTERNET, DO NOT MAIL YOUR CARD.



 

 

 

FRANKLIN TEMPLETON INVESTMENTS
PROXY FOR THE SPECIAL JOINT MEETING OF SHAREHOLDERS
MARCH 21,2007

FUND NAME PRINTS HERE
The undersigned hereby revokes all previous proxies for his/her shares and appoints CRAIG S. TYLE, BARBARA J. GREEN, STEVEN J. GRAY, ROBERT C. ROSSELOT, and KAREN L. SKIDMORE, and each of them, proxies of the undersigned with full power of substitution to vote all shares of the above referenced Fund (the “Fund”), that the undersigned is entitled to vote at the Special Joint Meeting of Shareholders (the “Meeting”) to be held at One Franklin Parkway, San Mateo, California 94403-1906 at __:__ _.m., Pacific time, on the 2lst day of March, 2007, including any postponements or adjournments thereof, upon the matters set forth below and instructs them to vote upon any matters that may properly be acted upon at the Meeting.
This Proxy is solicited on behalf of the Board of [Directors] [Trustees]. It will be voted as specified. If no specification is made, this Proxy will be voted FOR the Proposals including all nominees for [director] [trustee]. If any other matters properly come before the Meeting to be voted on, the proxy holders will vote, act and consent on those matters in accordance with the views of management.

 
Dated    , 2007 

 
 
 
Signature(s) (Joint owners)  (Sign in the Box)
Note: Please sign this proxy exactly as your name (or names) appears on this card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, this signature should be that of an authorized officer who should state his or her title.
 

LABEL BELOW FOR MIS USE ONLY!
PO#
FRANKLIN TEMPLETON COMPLEXWIDE
FORMS CALL - SINGLES
BOARD 1
BACK 1 OF 40 BACKS MO1
ORIGINAL 12-01-06 KD
MATT (FRANKLIN TEMPLETON COMPLEXWIDE FC SINGLE
2007 MM)






Please fill in box(es) as shown using black or blue ink or number 2 pencil. PLEASE DO NOT USE FINE POINT PENS.    x

1. To Elect a Board of Trustees/Directors.            
[to change as needed] FOR
ALL		 WITHHOLD
ALL		 FOR ALL
EXCEPT*
  (01)  Harris J. Ashton
(02)  Robert F. Carlson
(03)  Edith E. Holiday		 (04)  Frank W. T. LaHaye                     
(05)  Frank A. Olson
(06)  Larry D. Thompson		 (07)  John B. Wilson
(08)  Charles B. Johnson
(09)  Gregory E. Johnsonc		  o   o     1.  
         
  * To withhold authority to vote for any individual nominee(s), write the number(s) of the Nominee(s) below:        
         
                   
                FOR  AGAINST  ABSTAIN   
 
2.   To Approve an Agreement and Plan of Reorganization that provides for the reorganization of the Fund to a Delaware statutory trust. o o o 2.   
4.   To Approve Amendments to Certain of the Fund's Fundamental Investment Restrictions regarding:        
  Sub-Proposal 4a.      Borrowing          o o o 4a.   
  Sub-Proposal 4b.  Underwriting          o o o 4b.   
  Sub-Proposal 4c.  Lending          o o o 4c.   
  Sub-Proposal 4d.  Investments in real estate         o o o 4d.   
  Sub-Proposal 4e.  Investments in commodities         o o o 4e.   
  Sub-Proposal 4f.  Issuing senior securities         o o o 4f.   
  Sub-Proposal 4g.  Concentration          o o o 4g.   
  Sub-Proposal 4h.  Diversification of investments      o o o 4h.   
5.   To Approve the Elimination of Certain Fundamental Investment Restrictions. o o o 5.   

.PLEASE SIGN AND DATE ON THE REVERSE SIDE.

PLEASE VOTE YOUR FORM TODAY!

VOTING INSTRUCTION FORM VOTING INSTRUCTION FORM

FUND NAME PRINTS HERE VOTING INSTRUCTION FORM FOR
SPECIAL MEETING OF SHAREHOLDERS ON BEHALF OF
THE MONEY MARKET PORTFOLIOS
TO BE HELD MARCH 21, 2007

The above-referenced Fund hereby requests voting instructions from you in connection with a solicitation of proxies by the Board of Trustees of The Money Market Portfolios (the “Master Portfolio”). This Voting Instruction Form, if properly executed, will be used by the Fund to vote its shares of the Master Portfolio in the manner directed by you, as designated on reverse, at the Special Joint Meeting of Shareholders on March 21, 2007 and at any adjournments thereof. IF THIS VOTING INSTRUCTION FORM IS SIGNED AND RETURNED WITH NO CHOICES INDICATED, THE FUND WILL TREAT IT AS AN INSTRUCTION TO VOTE “FOR” EACH PROPOSAL RELATING TO THE MASTER PORTFOLIO.

If you fail to return this Voting Instruction Form or return it unsigned, the Fund will vote all shares attributable to your investment in the Fund in proportion to all voting instructions for the Fund actually received from Fund shareholders.

Voting Instruction Form must be signed and dated below.
 
Dated ___________________ , 2007
 
 
 
 
 
Signature(s) (if held jointly) (Please sign in box)

NOTE: PLEASE SIGN EXACTLY AS YOUR NAME APPEARS ON THIS VOTING INSTRUCTION FORM. All joint owners should sign. When signing as executor, administrator, attorney, trustee or guardian or as custodian for a minor, please give full title as such. If a corporation, please sign in  full corporate name and indicate the signer’s office. If a partner, please sign in the partnership name.



Please fill in box(es) as shown using black or blue ink or number 2 pencil. PLEASE DO NOT USE FINE POINT PENS.    x

1. To Elect a Board of Trustees.     FOR
ALL		 WITHHOLD
ALL		 FOR ALL
EXCEPT*		  
  (01)  Harris J. Ashton
(02)  Robert F. Carlson
(03)  Sam L. Ginn
(04)  Edith E. Holiday		 (05)  Frank W. T. LaHaye                         
(06)  Frank A. Olson
(07)  Larry D. Thompson		 (08)  John B. Wilson
(09)  Charles B. Johnson
(10)  Gregory E. Johnson		  o   o   o  1.  
         
  * To withhold authority to vote for any individual nominee(s), write the number(s) of the Nominee(s) below:        
         
          FOR  AGAINST  ABSTAIN     
 
2.   To Approve an Amended and Restated Agreement and Declaration of Trust for The Money Market Portfolios. o o o 2.  
3.   To Approve Amendments to Certain of the Fund's Fundamental Investment Restrictions (this Proposal involves separate votes on Sub-Proposals 3a-3h)        
 
        Sub-Proposal 3a.      Borrowing o o o 3a.  
        Sub-Proposal 3b. Underwriting o o o 3b.  
        Sub-Proposal 3c. Lending o o o 3c.  
        Sub-Proposal 3d. Investments in real estate o o o 3d.  
        Sub-Proposal 3e. Investments in commodities o o o 3e.  
        Sub-Proposal 3f. Issuing senior securities o o o 3f.  
        Sub-Proposal 3g. Industry Concentration o o o 3g.  
        Sub-Proposal 3h. Diversification of investments o o o 3h.  
4.   To Approve the Elimination of Certain Fundamental Investment Restrictions. o o o 4.  

.PLEASE SIGN AND DATE ON THE REVERSE SIDE.