Franklin Templeton 529 College Savings Plan Expands Investment Options Three Risk-Adjusted Age-Based Investment Tracks Now Available to Investors Nationwide

From Franklin Templeton Investments
contact Stacey Johnston
Telephone (650) 525-7458

Trenton, NJ and San Mateo, CA, April 26, 2010 – Franklin Templeton Investments and the New Jersey Higher Education Student Assistance Authority (HESAA) today announced the introduction of additional investment options for the Franklin Templeton 529 College Savings Plan.1

The plan, available to investors nationwide, now allows investors to choose from three risk-adjusted age-based investment tracks to suit their risk tolerance – conservative, moderate or growth. The plan’s existing age-based investment track was renamed the Growth Age-Based Asset Allocation, and two new tracks were introduced – the Conservative Age-Based Asset Allocation and Moderate Age-Based Asset Allocation.2

“I’m pleased that Franklin Templeton has increased the number of investment options in its 529 college savings plan,” said Michael Angulo, executive director of HESAA. “This provides families with even more choice and flexibility when it comes to investing for future college costs.”

Age-based investment options are often a popular choice among families saving for college with a 529 plan because they reallocate a percentage of assets out of equity-based funds (which have more stocks) into more conservative, income-seeking funds (such as bond and money market funds) over time.  The risk-adjusted age-based investment tracks allow investors to choose different amounts of anticipated risk and different planned changes in risk over time.

“Since the start of our partnership with HESAA in 2003, we have been committed to helping families save for future college costs,” said Roger Michaud, senior vice president of Franklin Templeton Distributors, Inc. “We look forward to continuing to bring the breadth and experience of Franklin Templeton’s professional investment management expertise to a line-up of portfolios that now gives families more flexibility in matching their risk tolerance with investment options.”

For more information on the Franklin Templeton 529 College Savings Plan or the Age-Based Asset Allocation Portfolios, please call (866) 362-1597 or visit franklintempleton.com.

Investors should carefully consider 529 Plan and/or mutual fund investment goals, risks, charges and expenses before investing. To obtain the Investor Handbook or mutual fund prospectuses, which contain this and other information, talk to your financial advisor or call Franklin Templeton Distributors, Inc., the manager and underwriter for the Plan at (866) 362-1597. You should read the Investor Handbook and/or mutual fund prospectuses carefully before investing and consider whether your, or the beneficiary’s, home state offers any state tax or other benefits that are only available for investments in its qualified tuition program.

Each plan account is currently subject to an annual program management fee of 0.40% of assets and underlying fund expenses, currently up to 0.87% of assets, which may vary. See the Investor Handbook for more complete information.

New Jersey Higher Education Student Assistance Authority’s (HESAA) mission is to provide students and families with the financial and informational resources for students to pursue their education beyond high school. For more information about NJBEST and other education programs offered through the State of New Jersey, contact 1-800-792-8670 or visit hesaa.org.

Franklin Templeton Distributors, Inc., is a subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and over $586 billion in assets under management as of March 31, 2010. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.