Franklin Mutual European Fund (0770)

Each investor’s goals are unique: we suggest you to seek guidance from a Financial Adviser. For more details on the fund potential risks, please read the simplified prospectus.

References to the Fund(s) of Franklin Templeton Investment Funds (“FTIF”) refer to the corresponding sub-fund of FTIF.

Performance details provided are in the fund currency, include reinvested dividends and are net of management fees. Sales charges and other commissions, taxes and other relevant costs to be paid by an investor are not included in the calculations. The management fees represent the aggregate of the Maintenance charge and the Management and Company charges relating to the fund as more fully described in the current prospectus of FTIF.

Past performance is no guarantee of future performance. The prices of shares and income therefrom can go down as well as up, and investors may not get back the full amount invested. When investing in a fund denominated in a foreign currency, your performance may be affected by currency fluctuations.

From December 2000, new accumulating shares, called Class A (acc) shares, were introduced to FTIF. Some funds had the new share class added alongside Class A(dis) shares. For other funds, the Class A(dis) shares were merged into Class A(acc) shares from 22 June 2001. Where Class A(acc) shares were added alongside Class A(dis) shares, performance data shown is for Class A(dis) shares. Where Class A(dis) shares were merged into Class A(acc) shares, performance figures of Class A(dis) shares are shown until the date of merger and performance figures of Class A(acc) shares are shown thereafter.

The information provided on this page does not constitute or form part of an offer for shares or an invitation to apply for shares. Subscriptions of shares in FTIF can only be made on the basis of the latest available audited annual report accompanied by the current prospectus of FTIF. No shares of FTIF may be directly or indirectly offered or sold to nationals or residents of the United States of America. Any research and analysis contained in this report has been procured by Franklin Templeton Investments for its own purposes. It is provided to you for information only.

The annual report and the prospectus of FTIF can be obtained from Franklin Templeton International Services SA, a Professional of the Financial Sector under the supervision of the Commission de Surveillance du Secteur Financier -26 boulevard Royal, L-2449 Luxembourg - Tel: (+352) 46 66 67 212 - Fax (+352) 46 66 67.

This marketing material is issued by Franklin Templeton International Services S.A., a Professional of the Financial Sector under the supervision of the Commission de Surveillance du Secteur Financier.