]> Press Releases--Closed-End Funds, Performance Information Available

Franklin Templeton Group Announces Availability of Performance Information on Closed-End Funds

From: Franklin Templeton Distributors, Inc.
Contact: Amy Kiernan
Telephone:(650) 312-3582

SAN MATEO, CA, August 12, 1998 -- The Franklin Templeton Group announced today that performance results for all U.S. based Franklin and Templeton closed-end funds, including Franklin Select Realty Trust, a publicly traded REIT advised by Franklin Properties, Inc., are available to the public by calling 1-800-DIAL-BEN(1-800-342-5236) and will be included in the next Franklin Templeton Dealer Facts Guide.

Franklin Templeton Distributors, Inc. is a wholly-owned subsidiary of Franklin Resources, Inc. (NYSE: BEN) whose primary business is the Franklin Templeton Group, with $236 billion in assets under management as of June 30, 1998. Franklin Resources' headquarters are at 777 Mariners Island Blvd., San Mateo, California 94404.