Franklin Templeton Investments Corp. announced today that it is changing the name of Bissett American Equity Fund to Franklin Templeton U.S. Rising Dividends Fund.

The renamed fund will remain focused on U.S. equities; however, its investment strategies will now centre on investing in companies that both consistently and substantially increase their dividends over time. The fund is modeled after a Franklin Templeton fund offered in the U.S. since 1987. The change is effective as of close of business October 21, 2005.

“The Franklin Templeton U.S. Rising Dividends Fund’s unique approach is based on the idea that companies with consistently increasing dividends should also realize an increase in their share price over time,” said Don Reed, President and CEO of Franklin Templeton Investments Corp. “This fund looks for companies that have increased dividends in at least eight of the last ten years with no decreases and have doubled their dividend over the previous ten years.”

The portfolio will be managed from Fort Lee, New Jersey, by Franklin Advisory Services, LLC. This group is also responsible for managing the U.S.-based Franklin Rising Dividends Fund with US$2.4 billion in assets.

To run the portfolio, Franklin Advisory Services will select companies that meet the following criteria: consistent and substantial dividend increases, strong balance sheets; reinvested earnings for future growth’ and an attractive stock price.

Additionally, Franklin Templeton announced that the name of Franklin Templeton Tax Class Corp. will be changed to Franklin Templeton Corporate Class Ltd. Along with the name change of Franklin Templeton Tax Class Corp., the name of each of the Tax Class funds and portfolios will be changed from “Tax Class” to “Corporate Class”.

“This name change more accurately reflects the nature of the structure, under which investors can switch between different Franklin Templeton Corporate Class funds without triggering a tax event such as a capital gain or loss,” said Reed.