o GOF PA-1

                         SUPPLEMENT DATED MARCH 15, 2003
                  TO THE CURRENTLY EFFECTIVE PROSPECTUSES OF

                  FRANKLIN HIGH INCOME TRUST - ADVISOR CLASS
                             (AGE High Income Fund)

                FRANKLIN STRATEGIC INCOME FUND - ADVISOR CLASS

          FRANKLIN INVESTORS SECURITIES TRUST (FIST2) - ADVISOR CLASS
     (Franklin Floating Rate Daily Access and Franklin Total Return Funds)

             FRANKLIN REAL ESTATE SECURITIES FUND - ADVISOR CLASS

               FRANKLIN STRATEGIC SERIES (FSS2) - ADVISOR CLASS
          (Franklin Technology and Franklin Natural Resources Funds)

                  TEMPLETON GLOBAL BOND FUND - ADVISOR CLASS

            TEMPLETON GLOBAL SMALLER COMPANIES FUND - ADVISOR CLASS

                      TEMPLETON GROWTH FUND - ADVISOR CLASS

The prospectus is amended as follows:

The eighth bullet point under the section "Qualified Investors" is replaced with
the following:

o Defined contribution plans such as employer stock, bonus, pension or profit
  sharing plans that meet the requirements for qualification under section 401
  of the Internal Revenue Code, including salary reduction plans qualified under
  section 401(k) of the Internal Revenue Code, and that are sponsored by an
  employer (i) with at least 10,000 employees, (ii) with retirement plan assets
  of $100 million or more, or (iii) with retirement plan assets of $20 million
  or more and who has contracted for current participant level record keeping
  with the Defined Contribution Services (DCS) division of Franklin Templeton
  Investor Services or is receiving current DCS services by contracting with the
  entity identified in DCS promotional material for participant level record
  keeping related to those DCS services. Minimum investments: No initial or
  additional minimums.

               Please keep this supplement for future reference.