Franklin Templeton Investments winding up Franklin Templeton Treasury Bill Yield Class

TORONTO, March 23, 2012 /CNW/ - Franklin Templeton Investments Corp. today announced plans to terminate Franklin Templeton Treasury Bill Yield Class in Canada. After close of business on March 28, 2012, the fund will cease offering shares for purchase and will be terminated on or about June 1, 2012.

The decision to terminate the fund is due to the small number of shareholders and the associated cost of maintaining a smaller fund.

Shareholders can redeem or switch their holdings in the fund on or prior to May 30, 2012. After close of business on June 1, 2012, any remaining shareholders who hold the fund in a:

• Registered accounts will have their holdings switched into Franklin Templeton Treasury Bill Fund on a dollar-for-dollar basis;
• Non-registered accounts will have their holdings liquidated at fair market value.

Shareholders are encouraged to speak with their financial advisor to discuss their investment options.

All costs associated with the termination of the fund will be borne by Franklin Templeton Investments Corp.

About Franklin Templeton Investments:

Franklin Templeton Investments Corp. is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Bissett, Mutual Series, Fiduciary Trust and Darby investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and approximately US$727-billion (C$720-billion) in assets under management as of February 29, 2012.

Franklin Templeton Investments Corp. has more than 600 employees providing services to more than one million unitholder accounts and more than 200 pension funds, foundations and other institutional investors. Additional information on Franklin Templeton Investments Corp. can be found at www.franklintempleton.ca.

Media contact:

Sarah Kingdon, Consultant, Public Relations, Franklin Templeton Investments, 416.957.6191