Franklin Templeton Investments terminating Bissett Canadian Core Plus Bond Fund

    TORONTO, Oct. 31 /CNW/ - Franklin Templeton Investments Corp. today
announced plans to terminate Bissett Canadian Core Plus Bond Fund. Effective
October 31, 2008, the fund will cease offering units for purchase and it will
be terminated on December 30, 2008.
    The decision to terminate the fund is due to the small number of
unitholders and the associated cost of maintaining a smaller fund. Since
Bissett Canadian Core Plus Bond Fund invests in other Franklin Templeton
mutual funds, unitholders can largely re-create the same investment by
investing in the underlying funds: Bissett Bond Fund and Franklin Templeton
Global Aggregate Bond Fund.
    Unitholders will not be required to pay any redemption fees, sales
charges or other fees associated with the termination of the fund. All costs
associated with the termination of the fund will be borne by Franklin
Templeton Investments Corp. On or prior to December 29, 2008, unitholders may
switch or redeem their holdings in the fund for settlement. Any unitholders
who hold Bissett Canadian Core Plus Bond Fund in a Franklin Templeton
Investments registered account, and who remain in the fund on December 29,
2008, will have their holdings switched into Franklin Templeton Money Market
Fund.
    On or about December 30, 2008, Franklin Templeton Investments will
liquidate the holdings of the fund at fair market value, will make a final
distribution of any income and capital gains, and distribute the net assets to
unitholders. Unitholders are encouraged to speak with their investment advisor
to discuss their investment options.

    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 1.2 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, Fiduciary Trust, Darby and
Bissett investment teams. The San Mateo, CA-based company has more than
60 years of investment experience and approximately US$507 billion
(C$540 billion) in assets under management as of September 30, 2008.

For further information:

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