FRANkLiN TEMPLETON INVESTMENT FUNDS - Citibank

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PROSPECTUS OF FRANKLIN TEMPLETON INVESTMENT FUNDS the Channel Islands, the Isle of Man and the dependent or associated territories in the Caribbean, have also introduced measures equivalent to information reporting or, during the above transitional period, withholding tax. The Savings Directive has been implemented in Luxembourg by a law dated June 21, 2005 (the “Law”). Dividends distributed by a Fund will be subject to the Savings Directive and the Law if more than 15% of such Fund’s assets are invested in debt claims (as defined in the Law) and proceeds realised by Shareholders on the redemption or sale of Shares in a Fund will be subject to the Savings Directive and the Law if more than 40% (25% from January 1, 2011) of such Fund’s assets are invested in debt claims (such Funds, hereafter “Affected Funds”). The applicable withholding tax will be at a rate of 20% from July 1, 2008 until June 30, 2011 and 35% from July 1, 2011 onwards. Consequently, if in relation to an Affected Fund a Luxembourg paying agent makes a payment of dividends or redemption proceeds directly to a Shareholder who is an individual resident or deemed resident for tax purposes in another EU Member State or certain of the above mentioned dependent or associated territories, such payment will, subject to the next paragraph below, be subject to withholding tax at the rate indicated above. No withholding tax will be withheld by the Luxembourg paying agent if the relevant individual either (i) has expressly authorised the paying agent to report information to the tax authorities in accordance with the provisions of the Law or (ii) has provided the paying agent with a certificate drawn up in the format required by the Law by the competent authorities of his State of residence for tax purposes. The Fund reserves the right to reject any application for Shares if the information provided by any prospective investor does not meet the standards required by the Law as a result of the Savings Directive. The list of Funds falling within the scope of the Savings Directive and the Law is made public at the registered office of the Company and is available at the offices of the Principal Distributor and the Transfer Agent. This information may also be available on the Internet site: http://www.franklintempleton.lu The foregoing is only a summary of the implications of the Savings Directive and the Law, is based on the current interpretation thereof and does not purport to be complete in all respects. It does not constitute investment or tax advice and investors should therefore seek advice from their financial or tax adviser on the full implications for themselves of the Savings Directive and the Law. United Kingdom The Company shall apply annually for certification as a “distributing fund” within the meaning of Schedule 27 of the UK Income and Corporation Taxes Act 1988 in respect of certain distribution Share Classes offered by the Company. A list of Share Classes that will be included in the application is available at the registered office of the Company. This information may also be available on the Internet site: http://www.franklintempleton.co.uk. Investors should consult their professional advisers as to the possible tax or other consequences of buying, holding, transferring or selling any of the Company’s Shares under the laws of their countries of citizenship, residence and domicile. Meetings and Reports The Annual General Meeting of Shareholders is held at the registered office of the Company on November 30 in each year or, if such day is not a bank business day in Luxembourg, on the Luxembourg bank business day immediately preceding the 30th day of November. Notices of all meetings will be published in the following newspapers: d’Wort and Mémorial, Recueil des Sociétés et Associations (the “Mémorial”) and such other newspapers as the Board of Directors shall from time to time determine and will be sent to the holders of registered Shares by post at least eight (8) calendar days prior to the meeting at their addresses 68 Franklin Templeton Investment Funds
PROSPECTUS OF FRANKLIN TEMPLETON INVESTMENT FUNDS in the register of Shareholders. Such notices may also be made available on Internet sites as the Board of Directors shall from time to time determine. They will include the agenda and specify the time and place of the meeting, the conditions of admission and will refer to the requirements of the laws of the Grand Duchy of Luxembourg with regard to the necessary quorum and majorities required for the meeting. The requirements as to attendance, quorum and majorities at all general meetings will be those laid down in articles 67 and 67-1 of the law of August 10, 1915 (as amended) relating to commercial companies and in the Articles of the Company. Abridged audited annual reports are mailed to the Shareholders at their registered addresses. The abridged unaudited semi- annual reports will be available on the following Franklin Templeton Internet site, www.franklintempleton.lu, and only distributed to registered Shareholders in those countries where local regulation so requires. The complete audited annual reports and unaudited semi- annual reports are available at the registered office of the Company. The accounting year of the Company ends on June 30 of each year. Documents Available for Inspection Copies of the Articles may be obtained at the registered office of the Company. The material contracts referred to in Paragraph 5 of Appendix C are available for inspection at the same address during normal business hours. Certificates and Registration Shares of each Fund are available in registered form. Registered Shares are held on a register established by the Company in the name of the Shareholder(s). The Application Form should be completed with the full name and address of each of the persons in whose name the Shares are to be registered and, in the case of a joint application, who is to be the first named Shareholder. Unless otherwise requested, no registered Share certificates shall be issued. However, an account statement will be sent upon each subscription, conversion and redemption and a yearly statement shall be sent to the address given on the Application Form or to that of the first named Shareholder. www.franklintempleton.lu 69
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Mandatory Statement Applicable to a
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FRANkLiN TEMPLETON INVESTMENT FUNDS - Citibank

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