Franklin Templeton International Trust · 497 · On 10/24/01

Filed On 10/24/01   ·   SEC File 33-41340   ·   Accession Number 876441-1-500021

Definitive Material   ·   Rule 497
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 497         Definitive Material                                    5±    22K 

Document Table of Contents

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FTIT P-2                                                                        
SUPPLEMENT DATED OCTOBER 9, 2001  
TO THE PROSPECTUS OF  
FRANKLIN TEMPLETON INTERNATIONAL TRUST  
(Templeton Foreign Smaller Companies Fund and Templeton Pacific Growth Fund)  
dated March 1, 2001 
as supplemented March 28, 2001 and July 1, 2001 

The prospectus is amended as follows:                                           

1. Under Templeton Foreign Smaller Companies Fund the first paragraph of the    
Main Investment Strategies section on page 2 has been replaced with the         
following:                                                                      

 MAIN INVESTMENT STRATEGIES Under normal market conditions, the Fund will invest
at least 65% of its total assets in equity securities of smaller companies    
located outside the U.S. The Fund's manager considers smaller companies to be 
 generally those with market capitalization of $2 billion or less at the time of
purchase. In some emerging markets, the Fund may invest in companies that     
qualify as smaller companies but that still are among the largest in the      
market. The Fund may also invest a portion of its assets in the equity        
securities of larger foreign companies.                                       

II. Under Templeton Foreign Smaller Companies Fund the "Management" section on  
page 11 is replaced with the following:                                         

MANAGEMENT                                                        
------------------------------------------------------------------------------  
Franklin  Advisers,  Inc.  (Advisers),  One Franklin  Parkway,    
San Mateo, CA  94403-1906,  is the Fund's  investment  manager.   
 Together,  Advisers and its  affiliates manage over $246 billion in
assets.                                                           

 Under an agreement with Advisers, Templeton Investment Counsel, LLC
     (Investment Counsel), 500 East Broward Blvd., Ft. Lauderdale, FL 33394,
  is the Fund's sub-advisor. Investment Counsel provides Advisers with
investment management advice and assistance.                      

Beginning October 2001 under an agreement with Investment Counsel,
    Franklin Templeton Investments (Asia) Limited (Investments Asia), 2701
    Shui On Centre, 6-8 Harbour Road, Wanchai, Hong Kong, is an additional
   sub-advisor of the Fund. Investments Asia provides Investment Counsel
with investment management advice and assistance.                 

The team responsible for the Fund's management is:                

SIMON RUDOLPH, PORTFOLIO MANAGER OF INVESTMENTS ASIA              
Mr. Rudolph has been a manager of the Fund since 1997. He joined  
     Franklin Templeton Investments in 1997. Previously, he was an executive
director with Morgan Stanley.                                     

TUCKER SCOTT, CFA, VICE PRESIDENT OF INVESTMENT COUNSEL           
     Mr. Scott has been a manager of the Fund since 2000. He joined Franklin
Templeton Investments in 1996.                                    

 CINDY L. SWEETING, CFA, SENIOR VICE PRESIDENT OF INVESTMENT COUNSEL
     Ms.  Sweeting  has been a manager  of the Fund since  2000.  She joined
     Franklin Templeton  Investments in 1997.  Previously,  she was the Vice
     President of Investments with McDermott International  Investments Co.,
Inc. in Nassau, Bahamas.                                          

  The Fund pays Advisers a fee for managing the Fund's assets. For the
    fiscal year ended October 31, 2000, the Fund paid 0.98% of its average
daily net assets to the manager for its services.                 

III. Under Templeton Pacific Growth Fund the "Management" section on page 22 is 
replaced with the following:                                                    

MANAGEMENT                                                        
------------------------------------------------------------------------------  
Franklin  Advisers,  Inc.  (Advisers),  One Franklin  Parkway,    
San Mateo, CA 94403-1906,  is the Fund's  investment  manager.    
Together,  Advisers and its affiliates manage over $246 billion in
assets.                                                           

Beginning October 2001 under an agreement with Investment Counsel,
    Franklin Templeton Investments (Asia) Limited (Investments Asia), 2701
 Shui On Centre, 6-8 Harbour Road, Wanchai, Hong Kong, is the Fund's
sub-advisor. Investments Asia provides Advisers with investment   
management advice and assistance.                                 

The team responsible for the Fund's management is:                

SIMON RUDOLPH, CFA, PORTFOLIO MANAGER OF INVESTMENTS ASIA         
Mr. Rudolph has been a manager of the Fund since 2000. He joined  
     Franklin Templeton Investments in 1997. Previously, he was an executive
director with Morgan Stanley.                                     

NICOLA DANIEL, PORTFOLIO MANAGER OF INVESTMENTS ASIA              
       Ms. Daniel has been a manager of the Fund since 2000. She joined Franklin
 Templeton Investments in 1997. Previously, she was a consultant and
      research associate for International Management & Development Group Ltd.

  The Fund pays Advisers a fee for managing the Fund's assets. For the
    fiscal year ended October 31, 2000, the Fund paid 1.00% of its average
daily net assets to the manager for its services.                 

Please keep this supplement for future reference. 

FTIT PA-1                                                                       
SUPPLEMENT DATED OCTOBER 9, 2001        
TO THE PROSPECTUS OF
FRANKLIN TEMPLETON INTERNATIONAL TRUST        
 (Templeton Foreign Smaller Companies Fund and
Templeton Pacific Growth Fund-Advisor Class)
dated March 1, 2001         
as supplemented March 28, 2001 and July 1, 2001         

The prospectus is amended as follows:                                           

1. Under Templeton Foreign Smaller Companies Fund the first paragraph of the    
Main Investment Strategies section on page 2 has been replaced with the         
following:                                                                      

 MAIN INVESTMENT STRATEGIES Under normal market conditions, the Fund will invest
at least 65% of its total assets in equity securities of smaller companies    
located outside the U.S. The Fund's manager considers smaller companies to be 
 generally those with market capitalization of $2 billion or less at the time of
purchase. In some emerging markets, the Fund may invest in companies that     
qualify as smaller companies but that still are among the largest in the      
market. The Fund may also invest a portion of its assets in the equity        
securities of larger foreign companies.                                       

II. Under Templeton Foreign Smaller Companies Fund the "Management" section on  
page 9 is replaced with the following:                                          

MANAGEMENT                                                        
------------------------------------------------------------------------        
     Franklin Advisers,  Inc.  (Advisers),  One Franklin Parkway, San Mateo,
     CA 94403-1906,  is the Fund's investment  manager.  Together,  Advisers
and its affiliates manage over $246 billion in assets.            

Under an agreement with Advisers,  Templeton  Investment Counsel, 
LLC   (Investment   Counsel),   500  East  Broward   Blvd.,   Ft. 
Lauderdale,  FL  33394,  is the  Fund's  sub-advisor.  Investment 
Counsel provides  Advisers with investment  management advice and 
assistance.                                                       

Beginning October 2001 under an agreement with Investment Counsel,
    Franklin Templeton Investments (Asia) Limited (Investments Asia), 2701
    Shui On Centre, 6-8 Harbour Road, Wanchai, Hong Kong, is an additional
   sub-advisor of the Fund. Investments Asia provides Investment Counsel
with investment management advice and assistance.                 

The team responsible for the Fund's management is:                

SIMON RUDOLPH, PORTFOLIO MANAGER OF INVESTMENTS ASIA              
Mr.  Rudolph  has been a  manager  of the  Fund  since  1997.  He 
joined Franklin  Templeton  Investments in 1997.  Previously,  he 
was an executive director with Morgan Stanley.                    

TUCKER SCOTT, CFA, VICE PRESIDENT OF INVESTMENT COUNSEL           
Mr.  Scott has been a manager of the Fund since  2000.  He joined 
Franklin Templeton Investments in 1996.                           

 CINDY L. SWEETING, CFA, SENIOR VICE PRESIDENT OF INVESTMENT COUNSEL
Ms.  Sweeting  has been a manager  of the Fund  since  2000.  She 
joined Franklin Templeton  Investments in 1997.  Previously,  she 
was  the   Vice   President   of   Investments   with   McDermott 
International Investments Co., Inc. in Nassau, Bahamas.           

The Fund pays  Advisers a fee for  managing  the  Fund's  assets. 
For the fiscal year ended  October 31, 2000,  the Fund paid 0.98% 
of its average daily net assets to the manager for its services.  

III. Under Templeton Pacific Growth Fund the "Management" section on page 18 is 
replaced with the following:                                                    

MANAGEMENT                                                        
------------------------------------------------------------------------        
     Franklin Advisers,  Inc.  (Advisers),  One Franklin Parkway, San Mateo,
     CA 94403-1906,  is the Fund's investment  manager.  Together,  Advisers
and its affiliates manage over $246 billion in assets.            

Beginning October 2001 under an agreement with Investment Counsel,
    Franklin Templeton Investments (Asia) Limited (Investments Asia), 2701
 Shui On Centre, 6-8 Harbour Road, Wanchai, Hong Kong, is the Fund's
sub-advisor. Investments Asia provides Advisers with investment   
management advice and assistance.                                 

The team responsible for the Fund's management is:                

SIMON RUDOLPH, CFA, PORTFOLIO MANAGER OF INVESTMENTS ASIA         
Mr. Rudolph has been a manager of the Fund since 2000. He joined  
     Franklin Templeton Investments in 1997. Previously, he was an executive
director with Morgan Stanley.                                     

NICOLA DANIEL, PORTFOLIO MANAGER OF INVESTMENTS ASIA              
Ms. Daniel has been a manager of the Fund since 2000. She joined  
      Franklin Templeton Investments in 1997. Previously, she was a consultant
and research associate for International Management & Development 
Group Ltd.                                                        

  The Fund pays Advisers a fee for managing the Fund's assets. For the
    fiscal year ended October 31, 2000, the Fund paid 1.00% of its average
daily net assets to the manager for its services.                 

Please keep this supplement for future reference.         

FTIT SA-1                                                                       
SUPPLEMENT DATED OCTOBER 9, 2001
 TO THE STATEMENT OF ADDITIONAL INFORMATION OF
FRANKLIN TEMPLETON INTERNATIONAL TRUST
 (Templeton Foreign Smaller Companies Fund and
Templeton Pacific Growth Fund)
 dated March 1, 2001

I. The following paragraph replaces the similar paragraph in the section        
"Management and Other Services - Manager and services provided" beginning on    
page 19:                                                                        

Beginning October 2001, Templeton Investment Counsel, LLC (Investment Counsel)
and Franklin Templeton Investments (Asia) Limited (Investments Asia) are the  
sub-advisors for Smaller Companies Fund. Investments Asia is the sub-advisor  
for Pacific Fund. For the Smaller Companies Fund, Investment Counsel has an   
agreement with the manager and Investments Asia has an agreement with         
 Investment Counsel to provide certain investment advisory services with respect
to securities and investments and cash equivalents in the Funds. Investments  
Asia provides the portfolio management services of Simon Rudolph while he     
remains employed by Investments Asia. The sub-advisors' activities are subject
to the board's review and control, as well as the manager's instruction and   
supervision.                                                                  

 Please keep this supplement
 for future reference.

FTIT SAA-1                                                                      
SUPPLEMENT DATED OCTOBER 9, 2001
 TO THE STATEMENT OF ADDITIONAL INFORMATION OF
FRANKLIN TEMPLETON INTERNATIONAL TRUST
 (Templeton Foreign Smaller Companies Fund and
Templeton Pacific Growth Fund-Advisor Class)
 dated March 1, 2001

I. The following paragraph replaces the similar paragraph in the section        
"Management and Other Services - Manager and services provided" beginning on    
page 19:                                                                        

Beginning October 2001, Templeton Investment Counsel, LLC (Investment Counsel)
and Franklin Templeton Investments (Asia) Limited (Investments Asia) are the  
sub-advisors for Smaller Companies Fund. Investments Asia is the sub-advisor  
for Pacific Fund. For the Smaller Companies Fund, Investment Counsel has an   
agreement with the manager and Investments Asia has an agreement with         
 Investment Counsel to provide certain investment advisory services with respect
to securities and investments and cash equivalents in the Funds. Investments  
Asia provides the portfolio management services of Simon Rudolph while he     
remains employed by Investments Asia. The sub-advisors' activities are subject
to the board's review and control, as well as the manager's instruction and   
supervision.                                                                  

 Please keep this supplement
 for future reference.

Dates Referenced Herein   and   Documents Incorporated By Reference

This 497 Filing		Date		Other Filings
		10/31/00		24F-2NT, N-30D, NSAR-B
		3/1/01		497, 497J
		3/28/01		497
		7/1/01
		10/9/01
Filed On / Filed As Of		10/24/01
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