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TEMPLETON GLOBAL UTILITIES REPORTS ON SHAREHOLDERS MEETING

 TEMPLETON GLOBAL UTILITIES REPORTS ON SHAREHOLDERS MEETING
 ST. PETERSBURG, Fla., Oct. 30 /PRNewswire/ -- Templeton Global Utilities, Inc. (the "fund") (AMEX: TGU) announced today that the shareholders of the fund met on Oct. 30, 1992, in St. Petersburg, Fla., and (1) approved the slate of directors for election, and (2) approved the new investment management agreement (the "agreement") between the fund and Templeton Investment Counsel, Inc. The agreement is to become effective upon the consummation of the merger between the fund's current investment manager, Templeton, Galbraith & Hansberger Ltd., and Franklin Resources, Inc., the fifth largest mutual fund manager in the United States and listed on the New York Stock Exchange (NYSE: BEN).
 -0- 10/30/92
 /CONTACT: Thomas M. Mistele, secretary of Templeton Global Utilities, Inc., 800-237-0738, ext. 7660/
 (TGU BEN) CO: Templeton Global Utilities, Inc. ST: Florida IN: FIN SU:


AW-JB -- FL009 -- 7285 10/30/92 16:23 EST
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Publication:PR Newswire
Date:Oct 30, 1992
Words:149
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