Franklin Templeton Investments Corp. announces fund merger

    TORONTO, June 1 /CNW/ - Franklin Templeton Investments Corp. today
announced that unitholders of Bissett Income Trust Fund have voted in favour
of merging this fund into the Bissett Income Fund. The merger will take effect
as of the close of business on June 8, 2007.
    Managed by Leslie Lundquist, the $886 million(*) Bissett Income Fund seeks
a high level of after-tax cash flow by investing primarily in income-producing
Canadian securities, including income trusts, common shares, preferred shares
and fixed income instruments.

    Franklin Templeton Investments Corp. is a wholly owned subsidiary of
Franklin Resources, Inc., a global investment organization operating as
Franklin Templeton Investments. In Canada, Franklin Templeton Investments
provides global and domestic investment advisory services to the Franklin,
Templeton, Bissett and Mutual Series funds and institutional accounts.
Franklin Templeton Investments Corp. has more than 700 employees providing
services to more than 1.8 million unitholder accounts and more than 200
pension funds, foundations and other institutional investors. Franklin
Templeton Investments Corp. can be found at www.franklintempleton.ca.

    Franklin Resources, Inc. (NYSE:  BEN), is a global investment management
organization operating as Franklin Templeton Investments. Franklin Templeton
Investments provides global and domestic investment management solutions
managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust
investment teams. The San Mateo, CA-based company has 60 years of investment
experience and more than US$601 billion (C$667 billion) in assets under
management as of April 30, 2007.

    (*)as of April 30, 2007

For further information:

For further information: Sarah Powley, Franklin Templeton Investments
Corp., (416) 957-6191