101 SA-1

                         SUPPLEMENT DATED APRIL 30, 2008
                  TO THE STATEMENT OF ADDITIONAL INFORMATION OF
                           TEMPLETON GROWTH FUND, INC.
                              DATED JANUARY 1, 2008

The Statement of Additional Information is amended as follows:

The section "Buying and Selling Shares - Initial Sales Charges - Waivers for
certain investors" on page 37 is supplemented to add the following paragraph:

o Class A shares may also be purchased without an initial sales charge by
  shareholders who acquired Class A shares as a result of the reorganization of
  Templeton Capital Accumulator Fund into the Fund, and the subsequent
  termination of Templeton Capital Accumulation Plans I and II (which invested
  in shares of Templeton Capital Accumulator Fund); provided, however, that such
  purchases of Class A shares without an initial sales charge are limited to an
  amount equal to 360 payments of the monthly contractual amount under their
  Templeton Capital Accumulation Plan at the time of termination of their
  Templeton Capital Accumulation Plan, less contributions previously made under
  the Templeton Capital Accumulation Plan. The right to make additional
  purchases without an initial sales charge is applicable only to the Fund's
  Class A shares, and will not be available to purchases of any other Franklin
  Templeton fund. In addition, the right to make additional purchases without an
  initial sales charge may be made only so long as the shareholder maintains an
  open shareholder account on the records of the Fund's transfer agent following
  the reorganization of Templeton Capital Accumulator Fund into the Fund. Once a
  shareholder closes his or her account and does not reinvest the proceeds at
  net asset value within 90 days, he or she will no longer be entitled to the
  waiver of sales charges.

               Please keep this supplement for future reference.