Franklin Templeton International Services S.A. opened in Luxembourg in 1991.

This entity acts as :

The administrator, registrar and transfer agent for our    Luxembourg registered funds

A distributor of Franklin Templeton Investment Funds, Franklin    Templeton Strategic Allocation Funds and Franklin Templeton    Series II Funds, our Luxembourg registered SICAV.

The Luxembourg office employs more than 140 employees working in multicultural teams for the Fund Accounting, Transfer Agency, Legal & Compliance or Sales & Marketing departments.

Risk management policy

Franklin Templeton International Services S.A. makes available, to the public, upon request, information on its risk management objectives and policies on its regulatory capital requirements and resources ("Internal Capital Adequacy Assessment Process Summary"). This information, which is unaudited, is available on application to the registered office of the Company at 26 Boulevard Royal, L-2449 Luxembourg.