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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001233087-04-000003.txt : 20040528
<SEC-HEADER>0001233087-04-000003.hdr.sgml : 20040528
<ACCEPTANCE-DATETIME>20040527195431
ACCESSION NUMBER:		0001233087-04-000003
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20040331
FILED AS OF DATE:		20040528
EFFECTIVENESS DATE:		20040528

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN TEMPLETON LIMITED DURATION INCOME TRUST
		CENTRAL INDEX KEY:			0001233087
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21357
		FILM NUMBER:		04836470

	MAIL ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403-1906

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRANKLIN TEMPLETON STRATEGIC INCOME TRUST
		DATE OF NAME CHANGE:	20030515
</SEC-HEADER>
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<DESCRIPTION>N-SAR ANSWER FILE
<TEXT>
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SIGNATURE   DEBBIE BETTENCOURT
TITLE       ASSISTANT TREASURER


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.11 OPIN COUNSL
<SEQUENCE>3
<FILENAME>opinion.txt
<DESCRIPTION>AUDITORS OPINION
<TEXT>
2





                 Report of Independent Auditors

To the Board of Trustees and Shareholders
of Franklin Templeton Limited Duration Income Trust

In planning and performing our audit of the financial statements
of Franklin Templeton Limited Duration Income Trust (the "Fund")
for the period August 27, 2003 (commencement of operations)
through March 31, 2004, we considered its internal control,
including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on
internal control.

The management of the Fund is responsible for establishing and
maintaining internal control.  In fulfilling this responsibility,
estimates and judgments by management are required to assess the
expected benefits and related costs of controls.  Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted
accounting principles.  Those controls include the safeguarding
of assets against unauthorized acquisition, use or disposition.

Because of inherent limitations in internal control, errors or
fraud may occur and not be detected.  Also, projection of any
evaluation of internal control to future periods is subject to
the risk that controls may become inadequate because of changes
in conditions or that the effectiveness of their design and
operation may deteriorate.

Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants.  A material weakness is a
condition in which the design or operation of one or more of the
internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions.  However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of March 31, 2004.

This report is intended solely for the information and use of the
Board of Trustees, management and the Securities and Exchange
Commission and is not intended to be and should not be used by
anyone other than these specified parties.


PricewaterhouseCoopers LLP

San Francisco, California
May 11, 2004


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77E LEGAL
<SEQUENCE>4
<FILENAME>legal.txt
<DESCRIPTION>LEGAL ATTACHMENT
<TEXT>
                                1
NAME OF REGISTRANT:
Franklin Templeton Limited Duration Income Trust
File No. 811-21357

Exhibit Item No. 77e: Legal Proceedings

  REGULATORY MATTERS

  Massachusetts Administrative Proceeding
  On February 4, 2004, the Securities Division of the Office of
  the Secretary of the Commonwealth of Massachusetts filed an
  administrative complaint against Franklin Resources, Inc. and
  certain of its subsidiaries (the "Company") claiming
  violations of the Massachusetts Uniform Securities Act
  ("Massachusetts Act") with respect to an alleged arrangement
  to permit market timing (the "Mass. Proceeding"). On February
  14, 2004, the Company filed an answer denying all violations
  of the Massachusetts Act.

  Governmental Investigations
  As part of ongoing investigations by the U.S. Securities and
  Exchange Commission (SEC), the U.S. Attorney for the Northern
  District of California, the New York Attorney General, the
  California Attorney General, the U.S. Attorney for the
  District of Massachusetts, the Florida Department of Financial
  Services and the Commissioner of Securities, the West Virginia
  Attorney General and the Vermont Department of Banking,
  Insurance, Securities, and Health Care Administration,
  relating to certain practices in the mutual fund industry,
  including late trading, market timing and  payments to
  securities dealers who sell fund shares, the Company and its
  subsidiaries, as well as certain current or former executives
  and employees of the Company, have received requests for
  information and/or subpoenas to testify or produce documents.
  The Company and its current employees are providing documents
  and information in response to these requests and subpoenas.
  In addition, the Company has responded to requests for similar
  kinds of information from regulatory authorities in some of
  the foreign countries where the Company conducts its global
  asset management business.

  The staff of the SEC has informed the Company that it intends
  to recommend that the SEC authorize a civil injunctive action
  against the Fund's investment manager. The SEC's investigation
  is focused on the activities that are the subject of the Mass.
  Proceeding described above and other instances of alleged
  market timing by a limited number of third parties that ended
  in 2000. The Company currently believes that the charges the
  SEC staff is contemplating are unwarranted. There are
  discussions underway with the SEC staff in an effort to
  resolve the issues raised in their investigation.

  In  response to requests for information and subpoenas from the
  SEC  and  the  California  Attorney General,  the  Company  has
  provided  documents and testimony has been  taken  relating  to
  payments  to  security dealers who sell fund shares.  Effective
  November  28,  2003, the Company determined not to  direct  any
  further  brokerage commissions where the allocation  is  based,
  not  only  on  best  execution, but also on the  sale  of  Fund
  shares.

  Other Legal Proceedings
  The Fund, in addition to other entities within Franklin
  Templeton Investments, including the Company and certain of
  its subsidiaries, other funds, and current and former
  officers, employees, and directors have been named in multiple
  lawsuits in different federal courts in Nevada, California,
  Illinois, New York, New Jersey, and Florida, alleging
  violations of various federal securities laws and seeking,
  among other things, monetary damages and costs. Specifically,
  the lawsuits claim breach of duty with respect to alleged
  arrangements to permit market timing and/or late trading
  activity, or breach of duty with respect to the valuation of
  the portfolio securities of certain funds managed by Company
  subsidiaries, resulting in alleged market timing activity. The
  majority of these lawsuits duplicate, in whole or in part, the
  allegations asserted in the Mass. Proceeding detailed above.
  The lawsuits are styled as class actions or derivative
  actions.

  In addition, the Company and its subsidiaries, as well as
  certain current and former officers, employees, and directors
  have been named in multiple lawsuits alleging violations of
  various securities laws and pendent state law claims relating
  to the disclosure of directed brokerage payments and payment
  of allegedly excessive commissions and advisory fees. These
  lawsuits are styled as class actions and derivative actions.

  Management strongly believes that the claims made in each of
  these lawsuits are without merit and intends to vigorously
  defend against them.

  The Company cannot predict with certainty the eventual outcome
  of the foregoing Mass. Proceeding, other governmental
  investigations or class actions or other lawsuits. The impact,
  if any, of these matters on the Fund is uncertain at this
  time. If the Company determines that it bears responsibility
  for any unlawful or inappropriate conduct that caused losses
  to the Fund, it is committed to making the Fund or its
  shareholders whole, as appropriate.



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
