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

Check the appropriate box:

o  Preliminary Proxy Statement

o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

o Definitive Proxy Statement

x Definitive 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. FRANKLIN FEDERAL TAX-FREE INCOME FUND FRANKLIN MONEY FUND FRANKLIN TAX-EXEMPT MONEY FUND
(Name of Registrant as Specified In Its Charter)
	(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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x	No 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:
	3.	Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
	4.	Proposed maximum aggregate value of transaction:
	5.	Total fee paid:
o	Fee 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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4. Date Filed: 

FRANKLIN TEMPLETON TARGETED PROXY LITE MESSAGE

"Hello. We're calling because you are a valued shareholder in the Franklin, Templeton and Mutual Series Family of Funds.

We previously mailed proxy material to you regarding your shares in the fund(s). Unfortunately our records show that we have not received your vote. You will be receiving a package in the mail containing information about the proxy along with instructions on how to vote your proxy. Your vote is very important to us. By voting now, you will help your Fund(s) avoid the additional costs associated with a potential adjournment of the meeting and calling you again to ask for your vote. The Special meeting of Shareholders is to be held on March 21, 2007.

You can vote quickly and easily by touch-tone phone, on the Internet or by mail. The details are in the package that you will receive. If you have any questions concerning the proxy or any of the proposals, please call us at our proxy service center, toll free at 1-877-777-3418. We appreciate your prompt attention to this matter.

Thank you. Goodbye."