FRANKLIN RESOURCES <BEN> FORMS THREE FUNDS
Franklin Resources Inc said it
formed three mutual funds that free Pennsylvania residents of
taxes levied by the state's counties on stocks, bonds and
mutual fund shares.
    The funds include the Franklin Pennsylvania Investors U.S.
Government Securities Fund, which invests in Ginnie Mae
securities, and the Franklin Pennsylvania Investors High Income
Fund, investing in high-yield corporate bonds. Both funds pay
monthly dividends.
    The Franklin Pennsylvania Investors Equity Fund invests in
stocks of U.S. companies and pays semi-annual dividends.

 Reuter
