<SEC-DOCUMENT>0000828803-11-000017.txt : 20111012
<SEC-HEADER>0000828803-11-000017.hdr.sgml : 20111012
<ACCEPTANCE-DATETIME>20111012123409
ACCESSION NUMBER:		0000828803-11-000017
CONFORMED SUBMISSION TYPE:	40-17F2
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20111012
DATE AS OF CHANGE:		20111012
EFFECTIVENESS DATE:		20111012

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEMPLETON GLOBAL INCOME FUND
		CENTRAL INDEX KEY:			0000828803
		IRS NUMBER:				222864496
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17F2
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05459
		FILM NUMBER:		111137093

	BUSINESS ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923
		BUSINESS PHONE:		9545277500

	MAIL ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEMPLETON GLOBAL INCOME FUND INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEMPLETON GLOBAL INCOME FUND
		CENTRAL INDEX KEY:			0000828803
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				222864496
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17F2

	BUSINESS ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923
		BUSINESS PHONE:		9545277500

	MAIL ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEMPLETON GLOBAL INCOME FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17F2
<SEQUENCE>1
<FILENAME>gim17f2090911.htm
<DESCRIPTION>TGIF 17F-2 PE 05/31/11
<TEXT>

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   <TITLE>gim17f2090911.htm - Generated by SEC Publisher for SEC Filing</TITLE>
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<a name="page_1"></a><a name="_bclPageBorder1"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">U.S.
SECURITIES AND EXCHANGE COMMISSION</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">WASHINGTON, D.C. 20549</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">FORM N-17F-2</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">CERTIFICATE OF ACCOUNTING OF SECURITIES AND
SIMILAR INVESTMENTS IN THE</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">CUSTODY OF MANAGEMENT INVESTMENT COMPANIES</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">PURSUANT TO RULE N-17F-2</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:624.200012pt;">
 <tr>
  <td colspan=5 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">1. Investment
  Company Act File Number:</font></p>
  </td>
 <td colspan=4 valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Date Examination
  completed:</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Courier New" style="font-size:10.0pt;">811
  -05459</font></p>
  </td>
 <td colspan=4 valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-indent:30.6pt;"><font face="Courier New" style="font-size:10.0pt;">September
  9, 2011</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=4 valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">2. State
  Identification Number:</font></p>
  </td>
 <td colspan=4 valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">AL</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">AK</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">AZ</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">AR</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">CA </font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">CO</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">CT</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">DE </font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">DC</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">FL</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">GA</font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">HI</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">ID</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">IL</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">IN</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">IA</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">KS</font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">KY</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">LA</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">ME</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">MD</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">MA</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">MI</font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">MN</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">MS</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">MO</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">MT</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">NE</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">NV </font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">NH</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">NJ</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">NM</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">NY</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">NC</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">ND </font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">OH</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">OK</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">OR</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">PA</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">RI</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">SC </font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">SD</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">TN</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">TX </font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">UT</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">VT</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">VA</font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">WA</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">WV</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">WI</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">WY</font></p>
  </td>
 <td colspan=2 valign=top width=21% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">PUERTO RICO</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td width=8% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr>
  <td colspan=9 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=9 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">3. Exact name of
  investment company as specified in registration statement:</font></p>
  </td>
 </tr>
<tr>
  <td colspan=9 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=9 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton Global
  Income Fund</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=6% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=8 valign=top width=94% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:11.5pt;">
  <td valign=top width=6% style="height:11.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=8 valign=bottom width=94% style="height:11.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:11.5pt;">
  <td valign=top width=6% style="height:11.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=8 valign=bottom width=94% style="height:11.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=9 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=9 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">4. Address of
  principal executive office: (number, street, city, state, zip code)</font></p>
  </td>
 </tr>
<tr>
  <td colspan=9 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Courier New" style="font-size:10.0pt;">300 S.E. 2<sup>nd</sup> Street, Fort Lauderdale, FL 33301-1923</font><font face="Times New Roman" style="font-size:10.0pt;">  &nbsp;</font></p>
  </td>
 </tr>
<tr height=0>
  <td width=6%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=13%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=7%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=8%>&nbsp;</td>
 </tr>
</table></div>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">[PWC LOGO]</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:8.0pt;">PricewaterhouseCoopers
LLP, PricewaterhouseCoopers Center, 300 Madison Avenue, New York, NY 10017 T;
(646) 471 3000, F: (813)286 6000, www.pwc.com/us</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="margin:0in;margin-bottom:.0001pt;page-break-after:auto;text-align:center;"><b><font face=Georgia style="font-size:10.0pt;">Report of Independent Registered Public Accounting Firm</font></b></h1>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">To the Board of Trustees
of</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.45in;width:276.599976pt;">
 <tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Templeton
  Limited Duration Income Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton Global
  Investment Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Real Estate
  Securities Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Strategic Series</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin High Income
  Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Money Fund</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Templeton Money
  Fund Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Institutional Fiduciary
  Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Global Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Gold and
  Precious Metals Fund</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Universal Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton China World Fund</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton Emerging
  Markets Fund</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton Emerging
  Markets Income Fund</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton Global Income
  Fund</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton Income Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Custodian Funds</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Strategic Mortgage Portfolio</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Investors Securities Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Templeton
  Global Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Templeton
  International Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Value Investors
  Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton Developing
  Markets Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Templeton Fund
  Allocator Series</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Templeton
  Variable Insurance Products Trust</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton Institutional
  Funds</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton International
  Emerging Markets Fund</font></p>
  </td>
 </tr>
<tr style="height:13.05pt;">
  <td nowrap valign=bottom width=100% style="height:13.05pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Franklin Managed Trust</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">and the Board of Directors
of</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.45in;width:282.099976pt;">
 <tr style="height:13.6pt;">
  <td nowrap width=100% style="height:13.6pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton Dragon Fund,
  Inc.</font></p>
  </td>
 </tr>
<tr style="height:13.6pt;">
  <td nowrap width=100% style="height:13.6pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia style="font-size:10.0pt;">Templeton Russia and East European Fund, Inc.</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">We have examined
management's assertion, included in the accompanying Management Statement
Regarding Compliance with Certain Provisions of the Investment Company Act of
1940, that the funds (see Attachment I), (hereafter referred to as the &#8220;Funds&#8221;)
complied with the requirements of subsections (b) and (c) of Rule 17f-2 under
the Investment Company Act of 1940 (&#8220;the Act&#8221;) as of May 31, 2011.&#160; Management
is responsible for the Funds' compliance with those requirements.&#160; Our
responsibility is to express an opinion on management's assertion about the
Funds' compliance based on our examination.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">Our examination was
conducted in accordance with the standards of the Public Company Accounting
Oversight Board (United States) and, accordingly, included examining, on a test
basis, evidence about the Funds' compliance with those requirements and
performing such other procedures as we considered necessary in the
circumstances.&#160; Included among our procedures were the following tests </font><font face=Georgia lang=EN-US style="font-size:10.0pt;">performed as of May 31, 2011 and with respect to agreement
of security purchases and sales, for the periods indicated in Attachment I:</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<ul type=disc style="margin-bottom:0in;margin-top:0in;">
 <li style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">Without prior notice to
     management, confirmation of all securities held by Franklin Templeton
     Investors Services, Inc., transfer agent, as they pertain to the security
     positions owned by the Funds and held in book entry form.</font></li>
 <li style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">Reconciliation of such
     security positions to the books and records of the Funds.</font></li>
 <li style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">Agreement of 100
     security purchases and 100 security sales, since our last report, from the
     books and records of the Funds to the records of the transfer agent.</font></li>
</ul>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">We believe that our
examination provides a reasonable basis for our opinion.&#160; Our examination does
not provide a legal determination on the Funds' compliance with specified
requirements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">In our opinion,
management's assertion that the Funds were in compliance with the requirements
of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940
as of May 31, 2011 with respect to securities reflected in the investment
accounts of the Funds is fairly stated, in all material respects.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">This report is intended
solely for the information and use of, management, the Board of Trustees and
Board of Directors and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these specified
parties.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">/s/PRICEWATERHOUSECOOPERS,
LLP</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">PricewaterhouseCoopers,
LLP</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">San Francisco, California</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">September 9, 2011</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Georgia lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>





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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><img height=90 src="x11101209164000.gif" width=627></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">Management
Statement Regarding Compliance With Certain</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Provisions of the Investment Company Act of
1940</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">We, as members of
management of the Franklin Templeton Funds indicated in Attachment I (the
&#8220;Funds&#8221;), are responsible for complying with the requirements of subsections
(b) and (c) of Rule 17f-2, &#8220;Custody of Investments by Registered Management
Investment Companies,&#8221; of the Investment Company Act of 1940.&#160; We are also
responsible for establishing and maintaining effective internal controls over
compliance with those requirements.&#160; We have performed an evaluation of the
Funds&#8217; compliance with the requirements of subsection (b) of Rule 17f-2, as
interpreted in Franklin Investors Securities Trust SEC No-Action Letter
(publicly available September 24, 1992), and subsection (c) of Rule 17f-2 of
the Investment Company Act of 1940, as of May 31, 2011, and for the periods
indicated in Attachment I.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Based on this
evaluation, we assert that the Funds were in compliance with the requirements
of subsection (b) of Rule 17f-2, as interpreted in Franklin Investors
Securities Trust SEC No-Action Letter (publicly available September 24, 1992), and subsection (c) of Rule 17f-2 of the Investment Company Act of 1940, as of May
31, 2011, and for the periods indicated in Attachment I, with respect to
securities reflected in the investment accounts of the Funds.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">By:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><u><font face="Courier New" lang=EN-US style="font-size:10.0pt;">/s/GASTON GARDEY </font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Gaston Gardey</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Chief Financial
Officer and Chief Accounting Officer</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Franklin Funds Board</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">Date
</font><u><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">September 9, 2011</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><u><font face="Courier New" lang=EN-US style="font-size:10.0pt;">/s/MARK H. OTANI</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Mark H. Otani</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Chief Financial
Officer and Chief Accounting Officer</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Templeton Funds
Board</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">Date
</font><u><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">September 9, 2011</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><u><font face="Courier New" lang=EN-US style="font-size:10.0pt;">/s/MATTHEW T.
HINKLE</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Matthew T. Hinkle</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Chief Financial
Officer and Chief Accounting Officer</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Franklin New Jersey Funds Board</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">Date
</font><u><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">September 9, 2011</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><u><font face="Courier New" lang=EN-US style="font-size:10.0pt;">/s/LAURA F.
FERGERSON</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Laura F.
Fergerson</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Courier New" lang=EN-US style="font-size:10.0pt;">Chief Executive
Officer - Finance and Administration</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Courier New" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>


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</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_5"></a><a name="_bclPageBorder5"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">Date </font><u><font color=black face="Courier New" lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">September 9, 2011</font></u></p>









<a name="_bclFooter5"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>





</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_6"></a><a name="_bclPageBorder6"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader6"></a><DIV>





<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font style="mso-bidi-font-weight:normal;"><b><font color=black face=Arial lang=EN-GB style="font-size:10.0pt;layout-grid-mode:line;">Attachment

I</font></b></font></b></p>





</DIV>
<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:0in;width:569.699951pt;">
 <tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="border-bottom:solid windowtext 1.0pt;height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Fund</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="border-bottom:solid windowtext 1.0pt;height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="border-bottom:solid windowtext 1.0pt;height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Period</font></i></b></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Templeton Limited Duration Income Trust</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton
  Global Investment Trust:</font></i></b></p>
  </td>
 <td valign=bottom width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td nowrap valign=bottom width=7% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton BRIC
  Fund</font></p>
  </td>
 <td valign=bottom width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td nowrap valign=bottom width=7% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton Emerging
  Markets Small Cap Fund</font></p>
  </td>
 <td valign=bottom width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td nowrap valign=bottom width=7% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton Frontier
  Markets Fund</font></p>
  </td>
 <td valign=bottom width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td nowrap valign=bottom width=7% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton Income
  Fund</font></p>
  </td>
 <td valign=bottom width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton Russia and East European Fund, Inc.</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Real Estate Securities Trust:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Real
  Estate Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin Strategic Series:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Biotechnology
  Discovery Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Flex Cap
  Growth Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Focused Core Equity Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Growth Opportunities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Natural
  Resources Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Small Cap
  Growth Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Small-Mid
  Cap Growth Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Strategic Income Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  High Income Trust:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin High
  Income Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Money Fund</font></i></b></p>
  </td>
 <td nowrap valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Templeton Money Fund Trust:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  Money Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Institutional
  Fiduciary Trust:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Money Market
  Portfolio</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin Global Trust:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Fiduciary Large
  Capitalization Equity Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin International Growth Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:23.4pt;">
  <td nowrap valign=bottom width=7% style="height:23.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:23.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  Emerging Market Debt Opportunities </font></p>
  </td>
 <td valign=top width=4% style="height:23.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:23.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Gold and Precious Metals Fund</font></i></b></p>
  </td>
 <td nowrap valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Universal Trust</font></i></b></p>
  </td>
 <td nowrap valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton China World Fund</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton
  Emerging Markets Fund</font></i></b><font face="Courier New" style="font-size:10.0pt;"> &nbsp;</font></p>
  </td>
 <td nowrap valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton Emerging Markets Income Fund</font></i></b><font face="Courier New" style="font-size:10.0pt;"> &nbsp;</font></p>
  </td>
 <td nowrap valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton Global
  Income Fund</font></i></b><font face="Courier New" style="font-size:10.0pt;"> &nbsp;</font></p>
  </td>
 <td nowrap valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton
  Income Trust:</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td nowrap valign=bottom width=7% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton Global
  Bond Fund</font></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td nowrap valign=bottom width=7% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton Global
  Total Return Fund</font></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td nowrap valign=bottom width=7% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton
  International Bond Fund</font></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Custodian Funds:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin DynaTech
  Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Growth Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Income
  Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin U.S.
  Government Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Utilities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin Strategic Mortgage Portfolio</font></i></b></p>
  </td>
 <td nowrap valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin Investors Securities Trust:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap valign=bottom width=7% style="height:24.75pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:24.75pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Adjustable U.S. Government Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:24.75pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:24.75pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Balanced Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin
  Convertible Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Equity
  Income Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Floating Rate Daily Access Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:25.65pt;">
  <td nowrap valign=bottom width=7% style="height:25.65pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:25.65pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Limited
  Maturity U.S. Government Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:25.65pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:25.65pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Low
  Duration Total Return Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Total
  Return Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Templeton Global Trust:</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td nowrap valign=bottom width=7% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  Hard Currency</font></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Templeton International Trust:</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td nowrap valign=bottom width=7% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin India
  Growth Fund</font></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Value Investors Trust:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin All Cap
  Value Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Balance Sheet Investment Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Large Cap Value Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin MicroCap Value Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin MidCap Value Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Small Cap
  Value Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.2in;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton
  Developing Markets Trust</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Templeton Fund Allocator Series:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:28.35pt;">
  <td nowrap valign=bottom width=7% style="height:28.35pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:28.35pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  2015 Retirement Target Fund</font></p>
  </td>
 <td valign=top width=4% style="height:28.35pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:28.35pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap valign=bottom width=7% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  2025 Retirement Target Fund</font></p>
  </td>
 <td valign=top width=4% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap valign=bottom width=7% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  2035 Retirement Target Fund</font></p>
  </td>
 <td valign=top width=4% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap valign=bottom width=7% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  2045 Retirement Target Fund</font></p>
  </td>
 <td valign=top width=4% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.3in;">
  <td nowrap valign=bottom width=7% style="height:.3in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.3in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  Conservative Allocation Fund</font></p>
  </td>
 <td valign=top width=4% style="height:.3in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.3in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  Corefolio Allocation Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap valign=bottom width=7% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  Founding Funds Allocation Fund</font></p>
  </td>
 <td valign=top width=4% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:27.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  Growth Allocation Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Templeton
  Moderate Allocation Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin
  Templeton Variable Insurance Products Trust:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Flex Cap
  Growth Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Founding Funds Allocation Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Large Cap Value Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Rising Dividends Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Small Cap
  Value Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:25.65pt;">
  <td nowrap valign=bottom width=7% style="height:25.65pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:25.65pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Small-Mid
  Cap Growth Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:25.65pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:25.65pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Franklin Strategic Income Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton
  Developing Markets Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Templeton Foreign
  Securities Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton
  Dragon Fund, Inc.</font></i></b></p>
  </td>
 <td nowrap valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.3pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:15.3pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton
  International Emerging Markets Fund</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:15.3pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:15.3pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:.15in;">
  <td nowrap valign=bottom width=7% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td valign=top width=4% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:.15in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Templeton
  Institutional Funds:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Foreign Equity
  Series</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Emerging Markets
  Series</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td colspan=2 nowrap valign=bottom width=57% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">Franklin Managed Trust:</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 <td nowrap valign=bottom width=50% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">Rising Dividends
  Fund</font></p>
  </td>
 <td valign=top width=4% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td nowrap valign=bottom width=39% style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Courier New" style="font-size:10.0pt;">February 1, 2011 -
  May 31, 2011</font></p>
  </td>
 </tr>
</table></div>


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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
