UNAUDITED HALF - YEARLY PORTFOLIO STATEMENT OF THE SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND AS ON MARCH 31, 2007

TEMPLETON GROWTH FUND b) Dividends declared during the Half - year ended March 31, 2007: Company Name Industry Quantity Market Value % to Net Record date Dividend per unit Dividend %age to Face Value Classification (Rs. in Lakhs) Assets Company Name Industry Quantity Market Value % to Net 29-Nov-06 3.0000 30.00 Ltd. Pharmaceuticals 11,162 26.31 1.29 Classification (Rs. in Lakhs) Assets Ltd. Non - Ferrous Metals 19,327 25.18 1.23 Equity & Equity Related c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 101.32% Ltd. Cement 23,536 25.11 1.23 Listed/Awaiting listing on Stock Exchanges d) ** Total value and percentage of illiquid securities Rs. 0.38 lacs and 0.0005% of net assets Maruti Udyog Ltd. Auto 2,555 20.94 1.02 Tata Investment Corporation Ltd. Finance 842,376 2,863.24 9.80 Ranbaxy Laboratories Ltd. Pharmaceuticals 5,788 20.41 1.00 Ltd. Petroleum Products 180,000 2,463.03 8.44 TEMPLETON INDIA EQUITY INCOME FUND Dr. Reddy's Laboratories Ltd. Pharmaceuticals 2,785 20.26 0.99 ACC Ltd. Cement 2,685 19.73 0.96 Oil & Natural Gas Corporation Ltd. Oil 268,500 2,357.83 8.07 Company Name Industry Quantity Market Value % to Net Satyam Computer Services Ltd. Software 475,000 2,232.98 7.64 Reliance Energy Ltd. Power 3,563 17.64 0.86 ING Vysya Bank Ltd. Banks 1,211,951 2,113.04 7.23 Classification (Rs. in Lakhs) Assets Hero Honda Motors Ltd. Auto 2,221 15.22 0.74 Grasim Industries Ltd. Cement 100,000 2,091.25 7.16 Equity & Equity Related Total 334,929 1,840.65 89.99 Ltd. Telecom - Services 200,000 1,526.40 5.22 Listed/Awaiting listing on Stock Exchanges Call,Cash & Other Assets 204.83 10.01 Corporation Ltd. Petroleum Products 600,000 1,480.20 5.07 Oil & Natural Gas Corporation Ltd. Oil 1,580,000 13,874.77 8.03 Net Assets 2,045.48 100.00 Ltd. Ferrous Metals 300,000 1,348.80 4.62 Ltd. Ferrous Metals 10,000,000 11,410.00 6.60 Note : Ltd. Auto 160,000 1,164.40 3.99 Grasim Industries Ltd. Cement 520,000 10,874.50 6.29 Hindalco Industries Ltd. Non - Ferrous Metals 850,000 1,107.55 3.79 Reliance Communications Ltd. Telecom - Services 1,989,000 8,353.80 4.83 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Reliance Communications Ltd. Telecom - Services 250,000 1,050.00 3.59 GAIL (India) Ltd. Gas 2,840,000 7,513.22 4.35 NAV as on 30-Sep-2006 Sesa Goa Ltd. Minerals/Mining 56,385 959.00 3.28 ICICI Bank Ltd. Banks 710,000 6,057.01 3.51 Ltd. Fertilisers 2,611,401 5,404.29 3.13 Dividend Plan (Rs) 34.7312 Ltd. Telecom - Services 900,000 850.95 2.91 Growth Plan (Rs) 34.7312 Corporation Ltd. Petroleum Products 257,992 779.78 2.67 Bharti Airtel Ltd. Telecom - Services 693,872 5,295.63 3.06 GAIL (India) Ltd. Gas 260,000 687.83 2.35 Satyam Computer Services Ltd. Software 1,100,000 5,171.10 2.99 NAV as on 31-Mar-2007 State Banks 60,000 595.74 2.04 Sesa Goa Ltd. Minerals/Mining 284,165 4,833.08 2.80 Dividend Plan (Rs) 36.2500 Shipping Corporation of India Ltd. Transportation 325,000 566.64 1.94 Tata Steel Ltd. Ferrous Metals 1,000,000 4,496.00 2.60 Growth Plan (Rs) 36.2500 Banks 3,603,476 3,744.01 2.17 Hindalco Industries Ltd. Non - Ferrous Metals 632,552 512.05 1.75 b) Dividends declared during the Half - year ended March 31, 2007: Nil (Partly Paid Shares) Sundaram Finance Ltd. Finance 843,142 3,406.29 1.97 ICI India Ltd. Consumer Non Durables 100,000 463.15 1.59 Hindalco Industries Ltd. Non - Ferrous Metals 2,556,680 3,331.35 1.93 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 28.62% Ltd. Auto 1,100,000 422.95 1.45 National Aluminium Co. Ltd. Non - Ferrous Metals 1,400,118 3,264.38 1.89 Tamilnadu Newsprint and Papers Ltd. Paper 415,944 346.07 1.18 J.K. Cement Ltd. Cement 2,081,802 3,012.37 1.74 FRANKLIN INDIA BLUECHIP FUND Steel Authority of India Ltd. Ferrous Metals 230,354 262.83 0.90 Shipping Corporation of India Ltd. Transportation 1,576,328 2,748.33 1.59 Gas Co. Ltd. Gas 11,256 142.94 0.49 Ashok Leyland Ltd. Auto 6,000,000 2,307.00 1.34 Company Name Industry Quantity Market Value % to Net Sundaram Finance Ltd. Finance 34,008 137.39 0.47 Ruchi Soya Industries Ltd. Consumer Non Durables 700,000 2,195.55 1.27 Classification (Rs. in Lakhs) Assets Reliance Energy Ltd. Power 21,487 106.39 0.36 Idea Cellular Ltd. Telecom - Services 2,300,000 2,174.65 1.26 Equity & Equity Related Ltd. Petroleum Products 25,902 103.50 0.35 Ballarpur Industries Ltd. Paper 1,943,731 2,092.43 1.21 Union Bank of India Banks 14,130 14.68 0.05 Hero Honda Motors Ltd. Auto 250,000 1,712.88 0.99 (a) Listed/Awaiting listing on Stock Exchanges Mind Tree Consulting Ltd. Software 714 5.93 0.02 HCL Infosystems Ltd. Hardware 1,162,795 1,502.91 0.87 Grasim Industries Ltd. Cement 677,837 14,175.27 6.12 Totals 9,883,551 28,756.54 98.42 Hindalco Industries Ltd.(Partly Paid Shares) Non - Ferrous Metals 1,600,000 1,295.20 0.75 Technologies Ltd. Software 684,944 13,785.18 5.95 Neyveli Lignite Corporation Ltd. Power 2,445,716 1,232.64 0.71 Bharti Airtel Ltd. Telecom - Services 1,759,892 13,431.50 5.81 Call,Cash & Other Assets 461.98 1.58 Tamil Nadu Newsprint & Papers Ltd. Paper 1,416,229 1,178.30 0.68 Net Assets 29,218.52 100.00 Tata Consultancy Services Ltd. Software 1,039,001 12,792.18 5.52 E.I.D. Parry (India) Ltd. Consumer Non Durables 654,185 838.99 0.49 Ltd. Banks 2,398,437 11,504.10 4.97 Note : Tata Investment Corporation Ltd. Finance 231,490 786.83 0.46 Reliance Industries Ltd. Petroleum Products 735,230 10,060.52 4.34 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Tata Motors Ltd. Auto 100,000 727.75 0.42 Banks 990,937 9,839.01 4.25 Hindustan Lever Ltd. Diversified 200,000 410.50 0.24 NAV as on 30-Sep-2006 Aditya Birla Nuvo Ltd. Textile Products 919,266 9,760.77 4.21 ICI India Ltd. Consumer Non Durables 24,552 113.71 0.07 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 1,307,932 9,515.21 4.11 Dividend Plan (Rs) 39.44 Consulting Ltd. Software 4,302 35.73 0.02 Larsen & Toubro Ltd. Diversified 542,432 8,782.79 3.79 Growth Plan (Rs) 60.31 Total 54,422,984 121,395.20 70.26 Reliance Communications Ltd. Telecom - Services 2,054,720 8,629.82 3.74 Foreign Equity Securities NAV as on 31-Mar-2007 United Microelectronics Corp. Semiconductors 24,000,000 6,036.83 3.49 I T C Ltd. Consumer Non Durables 5,691,412 8,559.88 3.70 Dividend Plan (Rs) 36.85 Souza Cruz SA Consumer Non Durables 600,000 5,308.91 3.07 Zee Entertainment Enterprises Ltd. Media & Entertainment 3,260,416 8,172.23 3.53 Growth Plan (Rs) 62.32 SK Corp. Petroleum Products 115,000 4,921.94 2.85 Bharat Heavy Electricals Ltd. Industrial Capital Goods 357,737 8,087.54 3.47 b) Dividends declared during the Half - year ended March 31, 2007: Turkcell Iletisim Hizmetleri AS Telecom Services 2,000,000 4,469.74 2.59 Tata Motors Ltd. Auto 956,792 6,963.05 3.01 Daelim Industrial Co. Construction 100,000 4,173.42 2.42 Maruti Udyog Ltd. Auto 797,551 6,537.53 2.82 Record date Dividend per unit Dividend %age to Face Value Massmart Holdings Ltd. Retailing 815,000 4,120.37 2.38 Jaiprakash Associates Ltd. Construction 1,179,797 6,355.57 2.74 ICICI Bank Ltd. Banks 712,402 6,077.50 2.62 20-Dec-06 4.0000 40.00 Alfa SAB DE CV Industrial Conglomerates 1,150,000 3,707.37 2.15 Gruma SAB DE CV Consumer Non Durables 2,250,000 3,084.25 1.78 Infrastructure Development Finance Corporation Ltd. Finance 6,695,853 5,604.43 2.42 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 3.51% Dongfang Electrical Industrial Capital Goods 1,500,000 2,718.75 1.57 Satyam Computer Services Ltd. Software 1,083,721 5,094.57 2.20 Phoenixtec Power Co. Ltd. Hardware 6,142,000 2,523.65 1.46 India Ltd. Industrial Products 1,902,806 5,040.53 2.18 Anadolu Efes Biracilik Ve Malt Motor Industries Co. Ltd. Auto Ancillaries 141,376 4,608.50 1.99 FRANKLIN INDIA PRIMA FUND Sanayii AS Consumer Non Durables 110,954 1,597.82 0.92 Cipla Ltd. Pharmaceuticals 1,729,393 4,076.18 1.76 Embotelladora Andina SA, pfd., A Consumer Non Durables 629,579 814.23 0.47 Ltd. Industrial Capital Goods 345,348 3,766.54 1.63 Company Name Industry Quantity Market Value % to Net Korea Information Service Inc. Finance 74,768 784.42 0.45 Hindustan Lever Ltd. Diversified 1,558,775 3,199.39 1.38 Classification (Rs. in Lakhs) Assets Siam City Cement Public Co. Ltd. Cement 220,200 734.70 0.43 Idea Cellular Ltd. Telecom - Services 2,895,102 2,737.32 1.18 Equity & Equity Related Sinotrans Ltd. Transportation 4,208,000 734.54 0.43 Power Finance Corporation Ltd. Finance 2,505,811 2,609.80 1.13 (a) Listed/Awaiting listing on Stock Exchanges Road King Infrastructure Ltd. Transportation 466,000 335.25 0.19 Ashok Leyland Ltd. Auto 6,494,877 2,497.28 1.06 Aditya Birla Nuvo Ltd. Textile Products 990,277 10,514.76 7.01 Acer Inc. Hardware 200,000 167.25 0.10 TVS Motor Company Ltd. Auto 3,652,880 2,177.12 0.94 India Cements Ltd. Cement 4,682,251 7,585.25 5.05 Total 44,581,501 46,233.44 26.75 ABB Ltd. Industrial Capital Goods 1,938 68.82 0.03 Jaiprakash Associates Ltd. Construction 1,340,108 7,219.16 4.81 Totals 167,628.64 97.01 Total 55,074,615 214,510.13 92.60 FAG Bearings India Ltd. Industrial Products 1,182,812 7,215.74 4.81 Call,Cash & Other Assets 5,162.71 2.99 (b) Unlisted ** Ltd. Pharmaceuticals 1,100,000 6,635.75 4.42 Net Assets 172,791.35 100.00 Dish TV India Ltd. 1,109,917 947.11 0.41 Motor Industries Co. Ltd. Auto Ancillaries 200,000 6,519.50 4.34 Note: Total 1,109,917 947.11 0.41 India Infoline Ltd. Finance 1,590,796 5,306.10 3.54 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Mutual Fund Units Ltd. Pharmaceuticals 2,400,000 4,732.80 3.15 NAV as on 30-Sep-2006 Templeton India Treasury Management Account 902,931 10,007.49 4.32 Cummins India Ltd. Industrial Products 1,785,000 4,728.47 3.15 Dividend Plan (Rs) 10.56 Total 902,931 10,007.49 4.32 Kansai Nerolac Paints Ltd. Consumer Non Durables 700,000 4,697.70 3.12 Growth Plan (Rs) 10.56 Totals 225,464.73 97.33 TVS Motor Company Ltd. Auto 7,330,101 4,368.74 2.91 NAV as on 31-Mar-2007 Call,Cash & Other Assets 6,181.23 2.67 Ashok Leyland Ltd. Auto10,377,392 3,990.11 2.66 Net Assets 231,645.96 100.00 CCL Products (I) Ltd. Consumer Non Durables 1,163,587 3,715.33 2.48 Dividend Plan (Rs) 11.87 E.Merck (India) LTD. Pharmaceuticals 947,175 3,711.03 2.47 Growth Plan (Rs) 11.87 Note : ESAB India Ltd. Industrial Products 1,099,191 3,394.30 2.26 b) Dividends declared during the Half - year ended March 31, 2007: Nil a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Ltd. Banks 1,500,000 3,233.25 2.16 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 9.09% NAV as on 30-Sep-2006 Sundram Fasteners Ltd. Auto Ancillaries 4,411,018 2,798.79 1.87 Dividend Plan (Rs) 38.94 Raymond Ltd. Textile Products 791,100 2,702.00 1.80 FRANKLIN INDIA PRIMA PLUS Kesoram Industries Ltd. Auto Ancillaries 636,463 2,182.75 1.45 Growth Plan (Rs) 117.41 Company Name Industry Quantity Market Value % to Net NAV as on 31-Mar-2007 Infotech Enterprises Ltd. Software 585,341 2,119.23 1.41 Classification (Rs. in Lakhs) Assets Simplex Infrastructures Ltd. Construction 559,557 2,027.83 1.35 Dividend Plan (Rs) 35.43 Sundaram Finance Ltd. Finance 460,824 1,861.73 1.24 Equity & Equity Related Growth Plan (Rs) 122.93 Ansal Properties and Infrastructure Ltd. Construction 347,327 1,832.15 1.22 (a) Listed/Awaiting listing on Stock Exchanges Areva T & D India Ltd. Industrial Capital Goods 167,977 1,825.41 1.22 Infosys Technologies Ltd. Software 307,994 6,198.69 6.53 b) Dividends declared during the Half - year ended March 31, 2007 : Ciba Speciality Chemicals Industries Ltd. Pharmaceuticals 794,478 1,787.58 1.19 Bharti Airtel Ltd. Telecom - Services 777,620 5,934.80 6.25 Record date Dividend per unit Dividend % age to Face Value Ltd. Pharmaceuticals 531,050 1,781.67 1.19 Motor Industries Co. Ltd. Auto Ancillaries 127,305 4,149.82 4.37 7-Feb-07 6.0000 60.00 Great Eastern Shipping Ltd. Transportation 864,533 1,753.71 1.17 Kotak Mahindra Bank Ltd. Banks 839,957 4,028.85 4.25 Vesuvius India Ltd. Industrial Products 766,325 1,687.83 1.13 Television Eighteen India Ltd. Media & Entertainment 625,264 3,819.11 4.03 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 35.54% TIL Ltd. Industrial Capital Goods 908,587 1,685.43 1.12 Housing Development Finance d) ** Total value and percentage of illiquid securities Rs. 947.11 lacs and 0.41% of net assets FDC Ltd. Pharmaceuticals 5,169,595 1,618.08 1.08 Corporation Ltd. Finance 235,443 3,579.56 3.77 Emco Ltd. Industrial Capital Goods 186,916 1,543.65 1.03 Grasim Industries Ltd. Cement 154,383 3,228.53 3.40 FRANKLIN INDIA FLEXI CAP FUND Kajaria Ceramics Ltd. Consumer Non Durables 4,807,335 1,497.48 1.00 Siemens Ltd. Industrial Capital Goods 281,420 3,069.31 3.24 Polaris Software Lab Ltd. Software 816,689 1,470.04 0.98 Cipla Ltd. Pharmaceuticals 1,193,612 2,813.34 2.96 Company Name Industry Quantity Market Value % to Net Ltd. Gas 1,470,491 1,469.76 0.98 Ltd. Consumer Non Durables 348,682 2,666.72 2.81 Classification (Rs. in Lakhs) Assets Elecon Engineering Co. Ltd. Industrial Capital Goods 368,137 1,435.55 0.96 Tata Motors Ltd. Auto 365,525 2,660.11 2.80 Equity & Equity Related Ltd. Consumer Non Durables 2,335,300 1,431.54 0.95 Hindustan Lever Ltd. Diversified 1,287,590 2,642.78 2.79 (a) Listed/Awaiting listing on Stock Exchanges Deccan Chronicle Holdings Ltd. Media & Entertainment 875,000 1,357.56 0.90 Nestle India Ltd. Consumer Non Durables 267,620 2,500.91 2.64 Royal Orchid Hotels Ltd. Hotels 639,325 1,297.19 0.86 Infosys Technologies Ltd. Software 961,844 19,358.07 5.65 ABB Ltd. Industrial Capital Goods 70,000 2,485.70 2.61 Motor Industries Co. Ltd. Auto Ancillaries 557,888 18,185.75 5.31 Ruchi Soya Industries Ltd. Consumer Non Durables 398,311 1,249.30 0.83 Bharat Petroleum Corporation Ltd. Petroleum Products 747,761 2,260.11 2.38 Denso India Ltd. Auto Ancillaries 1,487,000 1,111.53 0.74 NDTV Ltd. Media & Entertainment 715,829 2,225.15 2.35 Tata Consultancy Services Ltd. Software 1,437,628 17,700.08 5.17 Centurion Bank of Punjab Ltd. Banks 2,849,293 1,069.91 0.71 Pantaloon Retail (India) Ltd. Retailing 530,468 2,105.69 2.22 Grasim Industries Ltd. Cement 744,829 15,576.24 4.55 Hindustan Construction Co. Ltd. Construction 1,082,098 967.94 0.65 ICICI Bank Ltd. Banks 237,714 2,027.94 2.14 Reliance Industries Ltd. Petroleum Products 1,063,740 14,555.69 4.25 Allsec Technologies Ltd. Software 338,671 942.52 0.63 Cummins India Ltd. Industrial Products 686,447 1,818.40 1.92 Bharti Airtel Ltd. Telecom - Services 1,554,786 11,866.13 3.46 JMC Projects (India) Ltd. Constrution Projects 456,785 861.72 0.57 Tata Consultancy Services Ltd. Software 140,113 1,725.07 1.82 Zee Entertainment Enterprises Ltd. Media & Entertainment 4,281,172 10,730.76 3.13 Greaves Cotton Ltd. Industrial Products 214,056 680.70 0.45 Satyam Computer Services Ltd. Software 357,129 1,678.86 1.77 Satyam Computer Services Ltd. Software 2,237,785 10,519.83 3.07 Ltd. Auto Ancillaries 1,575,077 671.77 0.50 Infrastructure Development Finance Kotak Mahindra Bank Ltd. Banks 2,061,217 9,886.63 2.89 Vimta Labs Ltd. Pharmaceuticals 443,405 594.16 0.40 Corporation Ltd. Finance 2,001,394 1,675.17 1.77 Larsen & Toubro Ltd. Diversified 588,085 9,521.98 2.78 Shanthi Gears Ltd. Auto Ancillaries 829,541 508.09 0.34 Zee Entertainment Enterprises Ltd. Media & Entertainment 659,961 1,654.19 1.74 Cummins India Ltd. Industrial Products 3,594,461 9,521.73 2.78 IFGL Refractories Ltd. Industrial Products 617,383 437.42 0.29 Kansai Nerolac Paints Ltd. Consumer Non Durables 239,449 1,606.94 1.69 Ltd. Industrial Capital Goods 615,149 9,233.39 2.70 Shasun Chemicals & Drugs Ltd. Pharmaceuticals 262,732 260.50 0.17 Marico Ltd. Consumer Non Durables 2,566,440 1,573.23 1.66 State Bank of India Banks 923,204 9,166.49 2.68 Total 77,436,410 136,090.51 90.72 Gammon India Ltd. Construction 521,674 1,570.50 1.66 Maruti Udyog Ltd. Auto 1,116,228 9,149.72 2.67 (b) Unlisted** Dr. Reddy's Laboratories Ltd. Pharmaceuticals 191,964 1,396.54 1.47 Him Techno 170,000 0.02 0.00* Jaiprakash Associates Ltd. Construction 1,676,445 9,031.01 2.64 Hindustan Construction Co. Ltd. Construction 1,448,870 1,296.01 1.37 ICICI Bank Ltd. Banks 1,018,607 8,689.74 2.54 Control and Switchgears 112,000 0.01 0.00* Larsen & Toubro Ltd. Diversified 71,040 1,150.24 1.21 Range Apparels Ltd. 27,000 0.00 0.00* Bharat Heavy Electricals Ltd. Industrial Capital Goods 379,500 8,579.55 2.50 Idea Cellular Ltd. Telecom - Services 1,200,015 1,134.61 1.20 Siemens Ltd. Industrial Capital Goods 755,121 8,235.73 2.40 Numero Uno International Ltd. 8,100 0.00 0.00* Aditya Birla Nuvo Ltd. Textile Products 101,785 1,080.75 1.14 Total 317,100 0.03 0.00* Infrastructure Development Finance Lupin Ltd. Pharmaceuticals 160,000 969.04 1.02 Corporation Ltd. Finance 8,901,967 7,450.95 2.18 Totals 136,090.54 90.72 State Bank of India Banks 90,026 893.87 0.94 Reliance Communications Ltd. Telecom - Services 211,876 889.88 0.94 Aditya Birla Nuvo Ltd. Textile Products 659,998 7,007.86 2.05 Call,Cash & Other Assets 13,929.16 9.28 India Cements Ltd. Cement 3,607,563 5,844.25 1.71 Net Assets 150,019.70 100.00 Oil & Natural Gas Corporation Ltd. Oil 95,887 842.03 0.89 Note : * Less than 0.01% Cadila Healthcare Ltd. Pharmaceuticals 244,244 819.44 0.86 Cipla Ltd. Pharmaceuticals 2,438,661 5,747.92 1.68 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Madras Cements Ltd. Cement 30,000 816.36 0.86 Tata Motors Ltd. Auto 766,447 5,577.82 1.63 NAV as on 30-Sep-2006 Geojit Financial Services Ltd. Finance 2,147,995 750.72 0.79 Kansai Nerolac Paints Ltd. Consumer Non Durables 813,036 5,456.28 1.59 Dividend Plan (Rs) 51.26 Glaxosmithkline Pharmaceuticals Ltd. Pharmaceuticals 62,205 694.83 0.73 Hindustan Lever Ltd. Diversified 2,285,905 4,691.82 1.37 Growth Plan (Rs) 184.10 TV Today Network Ltd. Media & Entertainment 505,625 624.19 0.66 Unichem Laboratories Ltd. Pharmaceuticals 1,829,815 4,592.84 1.34 NAV as on 31-Mar-2007 HDFC Bank Ltd. Banks 48,614 461.54 0.49 Ltd. Consumer Durables 5,000,000 4,240.00 1.24 Dividend Plan (Rs) 51.93 Ltd. Pharmaceuticals 56,145 447.36 0.47 Idea Cellular Ltd. Telecom - Services 4,240,469 4,009.36 1.17 Growth Plan (Rs) 186.51 Mahindra Gesco Developers Ltd. Construction 73,453 417.43 0.44 Power Finance Corporation Ltd. Finance 3,727,929 3,882.64 1.13 b) Dividends declared during the Half - year ended March 31, 2007: Nil Ltd. Retailing 59,772 409.23 0.43 IPCA Laboratories Ltd. Pharmaceuticals 589,408 3,555.60 1.04 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 37.39% Wockhardt Ltd. Pharmaceuticals 82,001 326.08 0.34 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 459,748 3,344.67 0.98 d) ** Total value and percentage of illiquid securities Rs. 0.03 lacs and 0.00002% of net assets Shoppers Stop Ltd. Retailing 52,140 322.43 0.34 Vardhman Textiles Ltd. Textiles - Cotton 1,611,933 3,329.45 0.97 Centurion Bank of Punjab Ltd. Banks 702,123 263.65 0.28 Simplex Infrastructures Ltd. Construction 896,371 3,248.45 0.95 FRANKLIN INDIA OPPORTUNITIES FUND Total 23,922,574 87,705.71 92.44 ABB Ltd. Industrial Capital Goods 83,118 2,951.52 0.86 (b) Unlisted** Company Name Industry Quantity Market Value % to Net Pricol Ltd. Auto Ancillaries 8,774,761 2,886.90 0.84 Dish TV India Ltd. 165,857 141.53 0.15 Clariant Chemicals (India) Ltd. Chemicals 800,000 2,570.00 0.75 Classification (Rs. in Lakhs) Assets Quantum Information Services 38,000 0.28 0.00* Blue Dart Express Ltd. Courier 578,014 2,545.86 0.74 Equity & Equity Related Numero Uno International Ltd. 73,500 0.01 0.00* Quantum Information Systems 45,000 0.00 0.00* Pantaloon Retail (India) Ltd. Retailing 600,000 2,381.70 0.70 (a) Listed/Awaiting listing on Stock Exchanges Total 322,357 141.82 0.15 NDTV Ltd. Media & Entertainment 748,125 2,325.55 0.68 India Cements Ltd. Cement 3,002,768 4,864.48 6.10 Deepak Fertilizers & Petrochemicals Bharat Electronics Ltd. Industrial Capital Goods 298,812 4,485.17 5.63 Debt Instruments Rating Privately Placed / Unlisted Corporation Ltd. Fertilisers 2,513,328 2,133.82 0.62 Hindustan Lever Ltd. Diversified 2,053,905 4,215.64 5.29 Alfa Laval (India) Ltd. Industrial Capital Goods 249,002 2,117.64 0.62 Infosys Technologies Ltd. Software 183,819 3,699.54 4.65 Television Eighteen India Ltd. BBB- 9,231 8.17 0.01 Steel Authority of India Ltd. Ferrous Metals 3,195,787 3,646.39 4.57 Total 9,231 8.17 0.01 Ansal Properties and Infrastructure Ltd. Construction 370,099 1,952.27 0.57 Simplex Infrastructures Ltd. Construction 1,000,000 3,624.00 4.54 Totals 87,855.70 92.60 TVS Motor Company Ltd. Auto 3,116,563 1,857.47 0.54 India Infoline Ltd. Finance 1,048,447 3,497.09 4.38 Call,Cash & Other Assets 7,015.93 7.40 Vesuvius India Ltd. Industrial Products 795,576 1,752.26 0.51 Jaiprakash Associates Ltd. Construction 600,000 3,232.20 4.06 Net Assets 94,871.63 100.00 Marico Ltd. Consumer Non Durables 2,545,000 1,560.09 0.46 Ansal Properties and Infrastructure Ltd. Construction 579,807 3,058.48 3.83 Trent Ltd. Retailing 207,211 1,418.67 0.41 Note: * Less than 0.01% Amara Raja Batteries Ltd. Auto Ancillaries 897,132 3,048.90 3.82 L.G. Balakrishnan & Bros Ltd. Auto Ancillaries 6,157,438 1,348.48 0.39 Reliance Capital Ltd. Finance 413,188 2,760.30 3.46 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Sundram Fasteners Ltd. Auto Ancillaries 2,047,226 1,298.96 0.38 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 241,343 2,543.76 3.20 NAV as on 30-Sep-2006 India Ltd. Consumer Non Durables 1,054,344 1,001.10 0.29 Tata Consultancy Services Ltd. Software 190,784 2,348.93 2.95 Dividend Plan (Rs) 35.03 Total 94,036,744 313,590.72 91.56 Reliance Energy Ltd. Power 450,000 2,228.18 2.79 Growth Plan (Rs) 119.47 (b) Unlisted** Sundaram Finance Ltd. Finance 500,000 2,020.00 2.53 NAV as on 31-Mar-2007 Ashok Leyland Ltd. Auto 5,086,326 1,955.69 2.45 Dividend Plan (Rs) 29.77 Dish TV India Ltd. 1,338,511 1,142.18 0.33 Television Eighteen India Ltd. Media & Entertainment 306,989 1,875.09 2.35 Growth Plan (Rs) 132.81 Total 1,338,511 1,142.18 0.33 TVS Motor Company Ltd. Auto 2,862,844 1,706.26 2.14 Mutual Fund Units Grasim Industries Ltd. Cement 75,517 1,579.25 1.98 b) Dividends declared during the Half - year ended March 31, 2007 : Templeton India Treasury Management Account 1,354,397 15,011.24 4.38 Deepak Fertilizers & Petrochemicals Corporation Ltd. Fertilisers 1,779,337 1,510.66 1.89 Record date Dividend per unit Dividend %age to Face Value Total 1,354,397 15,011.24 4.38 Centurion Bank of Punjab Ltd. Banks 3,669,502 1,377.90 1.73 Totals 329,744.14 96.27 Federal-Mogul Goetze (India) Ltd. Auto Ancillaries 473,800 1,198.95 1.50 15-Nov-06 6.0000 60.00 Call,Cash & Other Assets 12,765.25 3.73 Infotech Enterprises Ltd. Software 320,201 1,159.29 1.45 07-Mar-07 3.0000 30.00 Raymond Ltd. Textile Products 337,655 1,153.26 1.45 Net Assets 342,509.39 100.00 Sical Logistics Ltd. Transportation 538,635 1,008.59 1.26 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 41.07% Note : Torrent Pharmaceuticals Ltd. Pharmaceuticals 490,657 967.58 1.21 d) ** Total value and percentage of illiquid securities Rs. 141.82 lacs and 0.15% of net assets D.S. Kulkarni Developers Ltd. Construction 334,884 910.88 1.14 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Idea Cellular Ltd. Telecom - Services 934,797 883.85 1.11 FRANKLIN INDIA INDEX FUND BSE SENSEX PLAN NAV as on 30-Sep-2006 Novartis India Ltd. Pharmaceuticals 266,657 836.37 1.05 Dividend Plan (Rs) 16.95 ACC Ltd. Cement 94,000 690.57 0.87 Company Name Industry Quantity Market Value % to Net Growth Plan (Rs) 19.11 Everest Industries Ltd. Cement 350,000 309.23 0.39 Classification (Rs. in Lakhs) Assets NAV as on 31-Mar-2007 Lupin Ltd. Pharmaceuticals 17,462 105.76 0.13 Equity & Equity Related ICICI Bank Ltd. Banks 8,214 70.07 0.09 Dividend Plan (Rs) 17.35 Totals 32,603,269 68,572.31 85.99 Listed/Awaiting listing on Stock Exchanges Growth Plan (Rs) 19.57 (b) Unlisted ** Reliance Industries Ltd. Petroleum Products 15,463 211.59 10.34 b) Dividends declared during the Half - year ended March 31, 2007 : Nil Quantum Information Services 44,170 0.32 0.00* Infosys Technologies Ltd. Software 10,502 211.36 10.33 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 43.90% GCI Solutions 489,000 0.05 0.00* ICICI Bank Ltd. Banks 19,813 169.02 8.27 d) ** Total value and percentage of illiquid securities Rs. 1142.18 lacs and 0.33% of net assets Numero Uno International Ltd. 98,000 0.01 0.00* Bharti Airtel Ltd. Telecom - Services 14,694 112.14 5.48 Chennai Online.com 23,815 0.00 0.00* Larsen & Toubro Ltd. Diversified 5,596 90.61 4.43 FRANKLIN INDIA TAXSHIELD 97 Totals 654,985 0.38 0.00* I T C Ltd. Consumer Non Durables 58,343 87.75 4.29 Debt Instruments Rating Oil & Natural Gas Corporation Ltd. Oil 9,488 83.32 4.07 Company Name Industry Quantity Market Value % to Net (b) Privately Placed / Unlisted Housing Development Finance Classification (Rs. in Lakhs) Assets Television Eighteen India Ltd. BBB- 29,986 26.52 0.03 Corporation Ltd. Finance 4,987 75.82 3.71 Total 29,986 26.52 0.03 Reliance Communications Ltd. Telecom - Services 15,876 66.68 3.26 Call,Cash & Other Assets 1158.42 100.00 Total 68,599.21 86.02 Satyam Computer Services Ltd. Software 13,857 65.14 3.18 Net Assets 1158.42 100.00 Call,Cash & Other Assets 11,152.89 13.98 Tata Consultancy Services Ltd. Software 4,336 53.38 2.61 Net Assets 79,752.10 100.00 HDFC Bank Ltd. Banks 5,590 53.07 2.59 Note : State Bank of India Banks 5,243 52.06 2.55 Note: * Less than 0.01% Hindustan Lever Ltd. Diversified 24,471 50.23 2.46 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Bharat Heavy Electricals Ltd. Industrial Capital Goods 1,898 42.91 2.10 NAV as on 30-Sep-2006 NAV as on 30-Sep-2006 NTPC Ltd. Power 27,502 41.18 2.01 Growth Plan (Rs) 112.46 Dividend Plan (Rs) 16.36 Tata Steel Ltd. Ferrous Metals 9,018 40.54 1.98 NAV as on 31-Mar-2007 Growth Plan (Rs) 23.01 Ltd. Auto 1,572 38.13 1.86 Growth Plan (Rs) 118.96 NAV as on 31-Mar-2007 Tata Motors Ltd. Auto 5,131 37.34 1.83 Dividend Plan (Rs) 14.43 b) Dividends declared during the Half - year ended March 31, 2007: Nil Ltd. Software 6,406 35.77 1.75 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 26.62% Growth Plan (Rs) 24.10 Grasim Industries Ltd. Cement 1,521 31.81 1.57 UNAUDITED HALF - YEARLY PORTFOLIO STATEMENT OF THE SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND AS ON MARCH 31, 2007

FRANKLIN INDIA TAXSHIELD FRANKLIN INFOTECH FUND FRANKLIN INDIA SMALLER COMPANIES FUND Company Name Industry Quantity Market Value % to Net Company Name Industry Quantity Market Value % to Net Company Name Industry Quantity Market Value % to Net Classification (Rs. in Lakhs) Assets Classification (Rs. in Lakhs) Assets Classification (Rs. in Lakhs) Assets Equity & Equity Related Equity & Equity Related Equity & Equity Related (a) Listed/Awaiting listing on Stock Exchanges (a) Listed/Awaiting listing on Stock Exchanges (a) Listed/Awaiting listing on Stock Exchanges Bharti Airtel Ltd. Telecom - Services 222,723 1,699.82 4.47 Infosys Technologies Ltd. Software 373,126 7,509.53 40.96 Exide Industries Ltd. Auto Ancillaries 15,497,257 6,609.58 5.57 Larsen & Toubro Ltd. Diversified 99,762 1,615.30 4.24 Tata Consultancy Services Ltd. Software 342,382 4,215.41 22.99 SKF India Ltd. Industrial Products 1,618,646 5,166.72 4.35 ICICI Bank Ltd. Banks 189,178 1,613.88 4.24 Satyam Computer Services Ltd. Software 351,961 1,654.57 9.03 India Infoline Ltd. Finance 1,413,819 4,715.79 3.98 Infosys Technologies Ltd. Software 74,974 1,508.93 3.96 HCL Technologies Ltd. Software 497,150 1,447.45 7.90 Gammon India Ltd. Construction 1,442,887 4,343.81 3.67 Housing Development Finance Corporation Ltd. Finance 99,000 1,505.15 3.95 Simplex Infrastructures Ltd. Construction 1,117,899 4,051.27 3.41 Wipro Ltd. Software 190,930 1,066.06 5.82 TRENT Ltd. Retailing 569,251 3,897.38 3.29 Cummins India Ltd. Industrial Products 567,428 1,503.12 3.95 Infotech Enterprises Ltd. Software 184,458 667.83 3.64 Sundram Fasteners Ltd. Auto Ancillaries 5,838,780 3,704.71 3.13 Satyam Computer Services Ltd. Software 300,000 1,410.30 3.71 Allsec Technologies Ltd. Software 233,279 649.22 3.54 Motor Industries Co. Ltd. Auto Ancillaries 106,845 3,482.88 2.93 Reliance Industries Ltd. Petroleum Products 95,974 1,313.26 3.45 Polaris Software Lab Ltd. Software 317,839 572.11 3.12 Vardhman Textiles Ltd. Textiles - Cotton 1,654,442 3,417.25 2.88 Kotak Mahindra Bank Ltd. Banks 260,333 1,248.69 3.28 Firstsource Solutions Ltd. Software 17,092 12.34 0.07 Centurion Bank of Punjab Ltd. Banks 8,513,546 3,196.84 2.70 Infrastructure Development Finance Corporation Ltd. Finance 1,391,711 1,164.86 3.06 Total 2508217 17,794.52 97.07 Oil & Natural Gas Corporation Ltd. Oil 361,274 3,172.53 2.68 Gammon India Ltd. Construction 374,994 1,128.92 2.97 (b) Unlisted** Deepak Fertilizers & Petrochemicals Corp. Ltd. Fertilisers 3,448,633 2,927.89 2.47 Motor Industries Co. Ltd. Auto Ancillaries 33,817 1,102.35 2.90 GCI Solutions 970,000 0.10 0.00* Tata Consultancy Services Ltd. Software 228,990 2,819.32 2.38 Tata Consultancy Services Ltd. Software 87,939 1,082.70 2.84 Alberg Software Ltd 15,000 0.00 0.00* Cummins India Ltd. Industrial Products 1,000,000 2,649.00 2.24 Oil & Natural Gas Corporation Ltd. Oil 119,597 1,050.24 2.75 One Two Three India 10,000 0.00 0.00* Polaris Software Lab Ltd. Software 1,435,619 2,584.11 2.18 Marico Ltd. Consumer Non Durables 1,616,600 990.98 2.60 Total 995,000 0.10 0.00* Himatsingka Seide Ltd. Textiles - Silk 2,122,052 2,517.81 2.11 Pantaloon Retail (India) Ltd. Retailing 249,120 988.88 2.60 Aditya Birla Nuvo Ltd. Textile Products 207,343 2,201.57 1.86 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 86,500 911.71 2.40 Totals 17,794.62 97.07 Century Textiles & Industries Ltd. Cement 393,607 2,146.34 1.81 Siemens Ltd. Industrial Capital Goods 83,292 908.42 2.39 Call,Cash & Other Assets 537.76 2.93 Kirloskar Brothers Ltd. Industrial Products 550,000 1,990.18 1.68 Gujarat State Petronet Ltd. Gas 3,969,452 1,855.72 1.57 ABB Ltd. Industrial Capital Goods 24,400 866.44 2.28 Net Assets 18,332.38 100.00 Cadila Healthcare Ltd. Pharmaceuticals 550,000 1,845.25 1.56 Reliance Communications Ltd. Telecom - Services 200,000 840.00 2.21 Note: * Less than 0.01% Aventis Pharma Ltd. Pharmaceuticals 150,000 1,845.15 1.56 Grasim Industries Ltd. Cement 38,796 811.32 2.13 Tata Coffee Ltd. Consumer Non Durables 757,615 1,815.62 1.53 Aditya Birla Nuvo Ltd. Textile Products 74,532 791.38 2.08 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Ltd. Chemicals 1,482,119 1,674.79 1.41 Maruti Udyog Ltd. Auto 95,478 782.63 2.06 Rico Auto Industries Ltd. Auto Ancillaries 3,525,000 1,654.99 1.40 Bajaj Auto Ltd. Auto 30,000 727.64 1.91 NAV as on 30-Sep-2006 Chambal Fertilizers & Chemicals Ltd. Fertilisers 5,140,392 1,608.94 1.36 Alfa Laval (India) Ltd. Industrial Capital Goods 84,691 720.25 1.89 Dividend Plan (Rs) 22.39 Vimta Labs Ltd. Pharmaceuticals 1,086,810 1,456.33 1.23 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 90,940 661.59 1.74 Growth Plan (Rs) 45.37 Alstom Projects India Ltd. Industrial Capital Goods 350,000 1,384.25 1.17 India Cements Ltd. Cement 397,721 644.31 1.69 NAV as on 31-Mar-2007 Alfa Laval (India) Ltd. Industrial Capital Goods 161,037 1,369.54 1.16 TVS Motor Company Ltd. Auto 996,852 594.12 1.56 Dividend Plan (Rs) 24.23 Mahindra Gesco Developers Ltd. Construction 234,599 1,333.23 1.12 Ltd. Pharmaceuticals 85,000 577.28 1.52 Growth Plan (Rs) 52.08 TVS Motor Company Ltd. Auto 2,200,000 1,311.20 1.11 TRF Ltd. Industrial Capital Goods 250,118 1,289.23 1.09 Glaxosmithkline Pharmaceuticals Ltd. Pharmaceuticals 50,000 558.50 1.47 b) Dividends declared during the Half - year ended March 31, 2007 HDFC Bank Ltd. Banks 50,000 474.70 1.25 HT Media Ltd. Media & Entertainment 700,000 1,235.85 1.04 Record date Dividend per unit Dividend %age to Face Value Ltd. Consumer Non Durables 628,135 1,230.83 1.04 Tata Motors Ltd. Auto 62,360 453.82 1.19 Great Eastern Shipping Ltd. Transportation 589,559 1,195.92 1.01 Geojit Financial Services Ltd. Finance 1,174,782 410.59 1.08 Prism Cement Ltd. Cement 3,565,000 1,133.67 0.96 Bharat Heavy Electricals Ltd. Industrial Capital Goods 16,624 375.83 1.99 29-Nov-06 1.5000 15.00 Television Eighteen India Ltd. Media & Entertainment 168,418 1,028.70 0.87 Nestle India Ltd. Consumer Non Durables 40,000 373.80 1.98 India Cements Ltd. Cement 608,543 985.84 0.83 Cipla Ltd. Pharmaceuticals 44,066 103.86 0.27 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 26.21% Everest Industries Ltd. Cement 1,070,739 946.00 0.80 Idea Cellular Ltd. Telecom - Services 85,806 81.13 0.21 Geojit Financial Services Ltd. Finance 2,665,179 931.48 0.79 Total 9594990 33,596.70 88.27 d) ** Total value and percentage of illiquid equity shares Rs. 0.10 lacs and 0.00055% of net assets Mysore Cements Ltd. Cement 2,365,628 930.87 0.79 (b) Unlisted ** Deccan Chronicle Holdings Ltd. Media & Entertainment 560,000 868.84 0.73 Quantum Information Services 3,500 0.03 0.00* FRANKLIN INDIA TAXSHIELD 98 Ciba Speciality Chemicals Industries Ltd. Pharmaceuticals 355,504 799.88 0.67 Globsyn Technologies Ltd. 30,000 0.00 0.00* Assam Co. (India) Ltd. Consumer Non Durables 3,566,825 615.28 0.52 Numero Uno International Ltd. 2,900 0.00 0.00* Company Name Industry Quantity Market Value % to Net HCL Infosystems Ltd. Hardware 313,348 405.00 0.34 Total 36400 0.03 0.00* Classification (Rs. in Lakhs) Assets Adhunik Metaliks Ltd. Ferrous Metals 302,947 104.82 0.09 Equity & Equity Related Total 84,837,857 98,452.20 83.07 Totals 33,596.73 91.06 (b) Mutual Fund Units Call,Cash & Other Assets 4,463.74 8.94 Listed/Awaiting listing on Stock Exchanges Templeton India Treasury Management Account 451,466 5,003.75 4.22 Net Assets 38,060.47 100.00 Bharti Airtel Ltd. Telecom - Services 2,000 15.26 9.55 Total 451,466 5,003.75 4.22 * Less than 0.01% Infosys Technologies Ltd. Software 708 14.25 8.93 Note : Satyam Computer Services Ltd. Software 2,614 12.29 7.69 Totals 103,455.94 87.29 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Marico Ltd. Consumer Non Durables 20,000 12.26 7.67 Call,Cash & Other Assets 15,059.02 12.71 NAV as on 30-Sep-2006 Cipla Ltd. Pharmaceuticals 5,000 11.79 7.38 Net Assets 118,514.96 100.00 Dividend Plan (Rs) 37.30 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 1,075 11.33 7.09 Cummins India Ltd. Industrial Products 4,085 10.82 6.77 Note : Growth Plan (Rs) 118.27 Kansai Nerolac Paints Ltd. Consumer Non Durables 1,500 10.07 6.30 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 NAV as on 31-Mar-2007 Glaxosmithkline Pharmaceuticals Ltd. Pharmaceuticals 700 7.82 4.89 NAV as on 30-Sep-2006 Dividend Plan (Rs) 30.44 ICICI Bank Ltd. Banks 677 5.78 3.62 Dividend Plan (Rs) 10.42 Growth Plan (Rs) 10.42 Growth Plan (Rs) 120.19 Reliance Industries Ltd. Petroleum Products 421 5.76 3.60 Larsen & Toubro Ltd. Diversified 300 4.86 3.04 NAV as on 31-Mar-2007 b) Dividends declared during the Half - year ended March 31, 2007 : Housing Development Finance Corp. Ltd. Finance 300 4.56 2.85 Dividend Plan (Rs) 10.01 Record date Dividend per unit Dividend %age to Face Value Bharat Heavy Electricals Ltd. Industrial Capital Goods 200 4.52 2.83 Growth Plan (Rs) 10.01 Maruti Udyog Ltd. Auto 500 4.10 2.57 b) Dividends declared during the Half - year ended March 31, 2007 : Nil 10-Jan-07 8.0000 80.00 ABB Ltd. Industrial Capital Goods 100 3.55 2.22 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 48.22% c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 66.70% Motor Industries Co. Ltd. Auto Ancillaries 100 3.26 2.04 ACC Ltd. Cement 439 3.23 2.02 FT INDIA LIFE STAGE FUND OF FUNDS - 50S PLUS PLAN d) ** Total value and percentage of illiquid securities Rs. 0.03 lacs and 0.00008% of net assets Kotak Mahindra Bank Ltd. Banks 500 2.40 1.50 Company Name Quantity Market Value % to Net Pidilite Industries Ltd. Chemicals 1,840 2.08 1.30 (Rs. in Lakhs) Assets FRANKLIN INDIA INDEX TAX FUND Total 43,059 149.99 93.86 Mutual Fund Units Company Name Industry Quantity Market Value % to Net Call,Cash & Other Assets 9.82 6.14 Templeton India Income Fund 3,514,278 902.71 45.10 Classification (Rs. in Lakhs) Assets Templeton India Income Builder Account Plan A 3,223,895 801.52 40.05 Net Assets 159.81 100.00 Franklin India Bluechip Fund 164,669 194.94 9.74 Equity & Equity Related Note: Templeton India Growth Fund, 163,328 98.34 4.91 (a) Listed/Awaiting listing on Stock Exchanges a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Total 7,065,169 1,997.52 99.81 Reliance Industries Ltd. Petroleum Products 2,170 29.74 9.84 NAV as on 30-Sep-2006 Call,Cash & Other Assets 3.89 0.19 Oil & Natural Gas Corporation Ltd. Oil 3,329 29.32 9.70 Growth Plan (Rs) 110.08 Net Assets 2,001.41 100.00 Bharti Airtel Ltd. Telecom - Services 2,949 22.53 7.46 NAV as on 31-Mar-2007 Note: Tata Consultancy Services Ltd. Software 1,524 18.80 6.23 Growth Plan (Rs) 119.95 Infosys Technologies Ltd. Software 869 17.54 5.81 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 b) Dividends declared during the Half - year ended March 31, 2007: Nil NAV as on 30-Sep-2006 Reliance Communications Ltd. Telecom - Services 3,183 13.40 4.43 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 20.27% Wipro Ltd. Software 2,245 12.56 4.16 Dividend Plan (Rs) 11.8748 ICICI Bank Ltd. Banks 1,391 11.87 3.93 Growth Plan (Rs) 12.7316 I T C Ltd. Consumer Non Durables 5,840 8.83 2.92 FRANKLIN INDIA INDEX FUND - NIFTY PLAN NAV as on 31-Mar-2007 Bharat Heavy Electricals Ltd. Industrial Capital Goods 379 8.57 2.84 Dividend Plan (Rs) 11.4916 State Bank of India Banks 821 8.16 2.69 Company Name Industry Quantity Market Value % to Net Growth Plan (Rs) 12.9880 Steel Authority of India Ltd. Ferrous Metals 6,409 7.33 2.43 Classification (Rs. in Lakhs) Assets b) Dividends declared during the Half - year ended March 31, 2007 : Larsen & Toubro Ltd. Diversified 437 7.08 2.35 Equity & Equity Related Hindustan Lever Ltd. Diversified 3,437 7.05 2.34 Record date Dividend per unit Dividend %age to Face Value Housing Development Finance Corporation Ltd. Finance 389 5.91 1.96 (a) Listed/Awaiting listing on Stock Exchanges 29-Dec-06 Satyam Computer Services Ltd. Software 1,019 4.79 1.59 Reliance Industries Ltd. Petroleum Products 39,652 543.35 9.96 Individual / HUF 0.2368 2.3680 HDFC Bank Ltd. Banks 491 4.68 1.55 Oil & Natural Gas Corporation Ltd. Oil 60,928 536.65 9.83 Others 0.2205 2.2050 Suzlon Energy Ltd. Industrial Capital Goods 446 4.47 1.48 Bharti Airtel Ltd. Telecom - Services 53,970 412.28 7.56 28-Mar-07 Tata Motors Ltd. Auto 600 4.37 1.44 Tata Consultancy Services Ltd. Software 27,878 343.97 6.30 Individual / HUF 0.0877 0.8770 Tata Steel Ltd. Ferrous Metals 899 4.04 1.34 Infosys Technologies Ltd. Software 15,881 320.58 5.88 Others 0.0817 0.8167 Bajaj Auto Ltd. Auto 158 3.84 1.27 Reliance Communications Ltd. Telecom - Services 58,273 245.27 4.50 Maruti Udyog Ltd. Auto 447 3.67 1.22 Wipro Ltd. Software 41,028 229.51 4.21 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 34.35% GAIL (India) Ltd. Gas 1,324 3.50 1.16 ICICI Bank Ltd. Banks 25,480 217.43 3.99 FRANKLIN PHARMA FUND Sun Pharmaceutical Industries Ltd. Pharmaceuticals 298 3.15 1.04 I T C Ltd. Consumer Non Durables 106,823 161.46 2.96 Grasim Industries Ltd. Cement 144 3.01 1.00 Bharat Heavy Electricals Ltd. Industrial Capital Goods 6,983 157.91 2.89 Company Name Industry Quantity Market Value % to Net Classification (Rs. in Lakhs) Assets Mahindra & Mahindra Ltd. Auto 379 2.96 0.98 State Bank of India Banks 14,981 148.98 2.73 HCL Technologies Ltd. Software 1,002 2.92 0.97 Equity & Equity Related Siemens Ltd. Industrial Capital Goods 263 2.87 0.95 Steel Authority of India Ltd. Ferrous Metals 117,371 134.16 2.46 Larsen & Toubro Ltd. Diversified 7,992 129.48 2.37 Listed/Awaiting listing on Stock Exchanges Cipla Ltd. Pharmaceuticals 1,208 2.86 0.95 IPCA Laboratories Ltd. Pharmaceuticals 100,000 603.25 9.90 Ambuja Cements Ltd. Cement 2,351 2.51 0.83 Hindustan Lever Ltd. Diversified 62,783 128.83 2.36 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 55,169 581.48 9.54 National Aluminium Co. Ltd. Non - Ferrous Metals 1,004 2.35 0.78 Housing Development Finance Corporation Ltd. Finance 7,133 108.41 1.99 Lupin Ltd. Pharmaceuticals 95,764 579.99 9.52 Hindalco Industries Ltd. Non - Ferrous Metals 1,799 2.34 0.78 Satyam Computer Services Ltd. Software 18,760 88.24 1.62 Cadila Healthcare Ltd. Pharmaceuticals 160,810 539.52 8.86 Banks 491 2.33 0.77 HDFC Bank Ltd. Banks 8,982 85.70 1.57 Pfizer Ltd. Pharmaceuticals 60,000 478.08 7.85 ABB Ltd. Industrial Capital Goods 64 2.27 0.75 Suzlon Energy Ltd. Industrial Capital Goods 8,179 81.91 1.50 Cipla Ltd. Pharmaceuticals 191,032 450.26 7.39 Hero Honda Motors Ltd. Auto 310 2.14 0.71 Tata Motors Ltd. Auto 10,964 79.84 1.46 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 50,681 368.70 6.05 ACC Ltd. Cement 290 2.13 0.71 Tata Steel Ltd. Ferrous Metals 16,443 73.94 1.36 Aurobindo Pharma Ltd. Pharmaceuticals 43,821 297.61 4.89 Ranbaxy Laboratories Ltd. Pharmaceuticals 579 2.04 0.68 Bajaj Auto Ltd. Auto 2,891 70.18 1.29 United Phosphorous Ltd. Pesticides 91,391 296.61 4.87 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 262 1.91 0.63 Maruti Udyog Ltd. Auto 8,219 67.41 1.24 Torrent Pharmaceuticals Ltd. Pharmaceuticals 147,886 291.63 4.79 Videsh Sanchar Nigam Ltd. Telecom - Services 445 1.79 0.59 GAIL (India) Ltd. Gas 24,086 63.72 1.16 Strides Arcolab Ltd. Pharmaceuticals 70,000 242.10 3.97 Zee Entertainment Enterprises Ltd. Media & Entertainment 682 1.71 0.57 Glaxosmithkline Pharmaceuticals Ltd. Pharmaceuticals 20,000 223.40 3.67 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 5,434 57.41 1.05 Nicholas Piramal India Ltd. Pharmaceuticals 79,660 195.68 3.21 Bharat Petroleum Corporation Ltd. Petroleum Products 561 1.70 0.56 Grasim Industries Ltd. Cement 2,592 54.25 0.99 Reliance Energy Ltd. Power 333 1.65 0.55 Ranbaxy Laboratories Ltd. Pharmaceuticals 52,298 184.40 3.03 Co. Ltd. Power 312 1.59 0.53 Mahindra & Mahindra Ltd. Auto 6,945 54.20 0.99 Unichem Laboratories Ltd. Pharmaceuticals 46,660 117.12 1.92 Glaxosmithkline Pharmaceuticals Ltd. Pharmaceuticals 134 1.50 0.50 HCL Technologies Ltd. Software 18,545 54.04 0.99 Totals 12,65,172 5,449.83 89.46 Mahanagar Telephone Nigam Ltd. Telecom - Services 985 1.45 0.48 Cipla Ltd. Pharmaceuticals 22,127 52.40 0.96 Call,Cash & Other Assets 642.06 10.54 Hindustan Petroleum Corporation Ltd. Petroleum Products 531 1.32 0.44 Siemens Ltd. Industrial Capital Goods 4,780 52.14 0.96 Net Assets 6,091.89 100.00 Indian Petrochemicals Corporation Ltd. Chemicals 476 1.29 0.43 Ambuja Cements Ltd. Cement 43,110 46.00 0.84 Note: Hindalco Industries Ltd. Non - Ferrous Metals 32,930 42.91 0.79 Dabur India Ltd. Consumer Non Durables 1,345 1.28 0.42 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Jet Airways (India) Ltd. Transportation 135 0.85 0.28 Punjab National Bank Banks 9,027 42.81 0.78 Oriental Bank of Commerce Banks 395 0.74 0.25 ABB Ltd. Industrial Capital Goods 1,202 42.67 0.78 NAV as on 30-Sep-2006 Total 57,534 296.71 98.27 National Aluminium Co. Ltd. Non - Ferrous Metals 18,224 42.58 0.78 Dividend Plan (Rs) 19.92 (b) Unlisted** ACC Ltd. Cement 5,334 39.22 0.72 Growth Plan (Rs) 27.49 Dish TV India Ltd. 407 0.35 0.12 Hero Honda Motors Ltd. Auto 5,665 39.02 0.72 NAV as on 31-Mar-2007 Total 407 0.35 0.12 Ranbaxy Laboratories Ltd. Pharmaceuticals 10,509 36.98 0.68 Dividend Plan (Rs) 17.76 Totals 297.06 98.39 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 4,771 34.74 0.64 Growth Plan (Rs) 28.67 Call,Cash & Other Assets 4.85 1.61 Videsh Sanchar Nigam Ltd. Telecom - Services 8,145 32.77 0.60 b) Dividends declared during the Half - year ended March 31, 2007 : Net Assets 301.91 100.00 Reliance Energy Ltd. Power 6,527 32.26 0.59 Record date Dividend per unit Dividend %age to Face Value Note : Zee Entertainment Enterprises Ltd. Media & Entertainment 12,384 31.05 0.57 29-Nov-06 3.0000 30.00 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Bharat Petroleum Corporation Ltd. Petroleum Products 10,247 31.02 0.57 NAV as on 30-Sep-2006 Tata Power Co. Ltd. Power 5,607 28.56 0.52 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 21.13% Growth Plan (Rs) 28.0188 Glaxosmithkline Pharmaceuticals Ltd. Pharmaceuticals 2,435 27.27 0.50 Mahanagar Telephone Nigam Ltd. Telecom - Services 18,096 26.56 0.49 FRANKLIN FMCG FUND NAV as on 31-Mar-2007 Growth Plan (Rs) 29.8800 Hindustan Petroleum Corporation Ltd. Petroleum Products 9,637 23.88 0.44 Company Name Industry Quantity Market Value % to Net Dabur India Ltd. Consumer Non Durables 24,640 23.41 0.43 Classification (Rs. in Lakhs) Assets b) Dividends declared during the Half - year ended March 31, 2007: Nil Indian Petrochemicals Corporation Ltd. Chemicals 8,486 22.98 0.42 Equity & Equity Related Jet Airways (India) Ltd. Transportation 2,506 15.87 0.29 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 2.10% (a) Listed/Awaiting listing on Stock Exchanges d) ** Total value and percentage of illiquid securities Rs. 0.35 lacs and 0.12% of net assets Oriental Bank of Commerce Banks 7,134 13.39 0.25 I T C Ltd. Consumer Non Durables 350,000 526.40 17.74 Total 1,052,719 5,429.60 99.53 Hindustan Lever Ltd. Diversified 130,000 266.83 8.99 (b) Unlisted ** Marico Ltd. Consumer Non Durables 400,000 245.20 8.26 Dish TV India Ltd. 5,869 5.01 0.09 Asian Paints Ltd. Consumer Non Durables 29,840 228.22 7.69 FRANKLIN INDIA TAXSHIELD 99 Total 5,869 5.01 0.09 Nestle India Ltd. Consumer Non Durables 24,000 224.28 7.56 Ltd. Consumer Non Durables 15,000 187.70 6.32 Company Name Industry Quantity Market Value % to Net Totals 5,434.61 99.62 Tata Tea Ltd. Consumer Non Durables 25,000 151.96 5.12 Classification (Rs. in Lakhs) Assets Call,Cash & Other Assets 20.47 0.38 Dabur India Ltd. Consumer Non Durables 150,000 142.43 4.80 Equity & Equity Related Pidilite Industries Ltd. Chemicals 100,000 113.00 3.81 Net Assets 5,455.08 100.00 Kansai Nerolac Paints Ltd. Consumer Non Durables 15,000 100.67 3.39 Listed/Awaiting listing on Stock Exchanges Tata Coffee Ltd. Consumer Non Durables 38,940 93.32 3.14 Note : Ltd. Consumer Non Durables 55,000 80.88 2.73 Infosys Technologies Ltd. Software 4,578 92.14 17.07 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 United Breweries Ltd. Breweries/Distillers 30,000 79.95 2.69 Satyam Computer Services Ltd. Software 16,280 76.53 14.17 CCL Products (I) Ltd. Consumer Non Durables 25,000 79.83 2.69 ICICI Bank Ltd. Banks 5,998 51.17 9.48 NAV as on 30-Sep-2006 GlaxoSmithkline Consumer Healthcare Ltd. Consumer Non Durables 15,000 78.54 2.65 Tata Consultancy Services Ltd. Software 4,000 49.25 9.12 Dividend Plan (Rs) 28.5180 Heritage Foods (India) Ltd. Consumer Non Durables 27,610 74.40 2.51 Wipro Ltd. Software 6,768 37.79 7.00 Growth Plan (Rs) 28.5180 Pantaloon Retail (India) Ltd. Retailing 10,000 39.70 1.34 Marico Ltd. Consumer Non Durables 50,000 30.65 5.68 NAV as on 31-Mar-2007 Emami Ltd. Consumer Non Durables 14,159 27.74 0.93 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 2,898 21.08 3.90 Ltd. Consumer Non Durables 3,000 24.83 0.84 Dividend Plan (Rs) 30.4800 Total 1,457,549 2,765.88 93.20 Kansai Nerolac Paints Ltd. Consumer Non Durables 2,844 19.09 3.54 Growth Plan (Rs) 30.4800 Reliance Industries Ltd. Petroleum Products 1,281 17.53 3.25 (b) Unlisted ** b) Dividends declared during the Half - year ended March 31, 2007: Nil McDowell Holdings Ltd. Consumer Non Durables 600 0.06 0.00* Asian Paints Ltd. Consumer Non Durables 2,250 17.21 3.19 Total 600 0.06 0.00* Bharti Airtel Ltd. Telecom - Services 2,250 17.17 3.18 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 7.56% d) ** Total value and percentage of illiquid securities Rs. 5.01 lacs and 0.09% of net assets Debt Instruments Rating Housing Development Finance Corporation Ltd. Finance 1,000 15.20 2.82 Privately Placed / Unlisted Kotak Mahindra Bank Ltd. Banks 3,000 14.39 2.67 Tata Coffee Ltd. CARE AA 25,000 33.29 1.12 ABB Ltd. Industrial Capital Goods 350 12.43 2.30 FRANKLIN INDIA INTERNATIONAL FUND Total 25,000 33.29 1.12 Cipla Ltd. Pharmaceuticals 5,000 11.79 2.18 Company Name Quantity Market Value % to Net Totals 2,799.23 94.32 Larsen & Toubro Ltd. Diversified 700 11.33 2.10 Call,Cash & Other Assets 168.72 5.68 Maruti Udyog Ltd. Auto 1,191 9.76 1.81 (Rs. in Lakhs) Assets Net Assets 2,967.95 100.00 Bharat Heavy Electricals Ltd. Industrial Capital Goods 266 6.01 1.11 Foreign Securities Idea Cellular Ltd. Telecom - Services 1,387 1.31 0.24 Franklin US Govt Fund 20,836 85.44 87.71 Note: * Less than 0.01% Totals 112,041 511.83 94.81 Total 20,836 85.44 87.71 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Call,Cash & Other Assets 28.03 5.19 Call,Cash & Other Assets 11.97 12.29 NAV as on 30-Sep-2006 Net Assets 539.86 100.00 Dividend Plan (Rs) 25.79 Net Asset 97.41 100.00 Note : Growth Plan (Rs) 35.50 Note: NAV as on 31-Mar-2007 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Dividend Plan (Rs) 20.95 NAV as on 30-Sep-2006 Growth Plan (Rs) 32.59 NAV as on 30-Sep-2006 Growth Plan (Rs) 64.33 b) Dividends declared during the Half - year ended March 31, 2007: Growth (Rs) 10.3941 NAV as on 31-Mar-2007 Record date Dividend per unit Dividend % age to Face Value Growth Plan (Rs) 70.56 NAV as on 31-Mar-2007 29-Nov-06 3.0000 30.00 b) Dividends declared during the Half - year ended March 31, 2007: Nil Growth (Rs) 10.0930 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 6.20% c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 27.67% b) Dividends declared during the Half - year ended March 31, 2007: Nil d) ** Total value and percentage of illiquid securities Rs. 0.06 lacs and 0.002% of net assets UNAUDITED HALF - YEARLY PORTFOLIO STATEMENT OF THE SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND AS ON MARCH 31, 2007

FT INDIA LIFE STAGE FUND OF FUNDS - 20S PLAN FT INDIA LIFE STAGE FUND OF FUNDS - 40s PLAN FT INDIA LIFE STAGE FUND OF FUNDS 50S PLUS-FLOATING RATE PLAN Company Name Quantity Market Value % to Net Company Name Quantity Market Value % to Net Company Name Quantity Market Value % to Net (Rs. in Lakhs) Assets (Rs. in Lakhs) Assets (Rs. in Lakhs) Assets Mutual Fund Units Mutual Fund Units Mutual Fund Units Franklin India Bluechip Fund 745,424 916.35 50.83 Templeton India Income Fund 3,504,331 900.16 40.21 Templeton Floating Rate Income Fund 125,449,221 16,920.59 81.30 Templeton India Income Fund 1,048,183 269.25 14.93 Templeton India Income Builder Account 3,152,357 783.74 35.01 Franklin India Bluechip Fund 2,440,593 3,000.22 14.42 Templeton India Growth Fund 431,082 268.65 14.90 Franklin India Bluechip Fund 275,173 338.27 15.11 Templeton India Growth Fund 1,604,186 999.73 4.80 Templeton India Income Builder Account Plan 1,078,112 268.04 14.87 Templeton India Growth Fund 355,239 221.38 9.89 Total 129,494,000 20,920.54 100.52 Franklin India Prima Fund 46,743 87.18 4.84 Franklin India Prima Fund 101 0.19 0.01 Call,Cash & Other Assets (108.01) (0.52) Total 3,349,543 1,809.47 100.37 Total 7,287,201 2,243.74 100.23 Net Assets 20,812.53 100.00 Call,Cash & Other Assets (6.64) (0.37) Call,Cash & Other Assets (5.13) (0.23) Net Assets 1,802.83 100.00 Net Assets 2,238.61 100.00 Note: Note: Note : a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 NAV as on 30-Sep-2006 NAV as on 30-Sep-2006 NAV as on 30-Sep-2006 Dividend Plan (Rs.) 12.1318 Growth Plan (Rs.) 13.0632 Dividend Plan (Rs) 21.4148 Dividend Plan (Rs.) 13.4631 Growth Plan (Rs.) 14.8427 Growth Plan (Rs) 21.4148 NAV as on 31-Mar-2007 NAV as on 31-Mar-2007 Dividend Plan (Rs.) 11.9221 NAV as on 31-Mar-2007 Growth Plan (Rs.) 13.5698 Dividend Plan (Rs) 22.0573 Dividend Plan (Rs.) 13.7394 Growth Plan (Rs) 22.0573 Growth Plan (Rs.) 15.1473 b) Dividends declared during the Half - year ended March 31, 2007 : b) Dividends declared during the Half - year ended March 31, 2007: Nil b) Dividends declared during the Half - year ended March 31, 2007: Nil Record date Dividend per unit Dividend %age to Face Value c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 10.65% c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 48.59% 29-Dec-06 Individual / HUF 0.2631 2.6310 FT INDIA LIFE STAGE FUND OF FUNDS - 30s PLAN FT INDIA DYNAMIC PE RATIO FUND OF FUNDS Others 0.2450 2.4500 Company Name Quantity Market Value % to Net Company Name Quantity Market Value % to Net 28-Mar-07 (Rs. in Lakhs) Assets (Rs. in Lakhs) Assets Individual / HUF 0.1052 1.0524 Others 0.0980 0.9801 Mutual Fund Units Mutual Fund Units Franklin India Bluechip Fund 346,999 426.57 35.61 Franklin India Bluechip Fund 1,917,861 2,357.63 60.24 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 32.34% Templeton India Income Fund 1,400,511 359.75 30.03 Templeton India Income Fund 6,037,353 1,550.49 39.66 Templeton India Income Builder Account 1,200,208 298.40 24.91 Total 7,955,215 3908.44 99.84 FRANKLIN INDIA GROWTH FUND Templeton India Growth Fund 95,615 59.59 4.97 Call,Cash & Other Assets 5.52 0.14 Franklin India Prima Fund 31,069 57.95 4.84 Net Assets 3,913.96 100.00 Company Name Quantity Market Value % to Net (Rs. in Lakhs) Assets Total 3,074,402 1,202.26 100.36 Note : Call,Cash & Other Assets (4.30) (0.36) Mutual Fund Units Net Assets 1,197.96 100.00 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Franklin India Prima Plus 49,703 66.01 100.02 Note : NAV as on 30-Sep-2006 Total 49,703 66.01 100.02 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Dividend Plan (Rs.) 23.3466 Call,Cash & Other Assets (0.01) (0.02) Growth Plan (Rs.) 23.3466 Net Assets 66.00 100.00 NAV as on 30-Sep-2006 Dividend Plan (Rs.) 17.3725 NAV as on 31-Mar-2007 Note : Growth Plan (Rs.) 17.3725 Dividend Plan (Rs.) 23.9887 Growth Plan (Rs.) 23.9887 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 NAV as on 31-Mar-2007 NAV as on 30-Sep-2006 b) Dividends declared during the Half - year ended March 31, 2007: NIL Dividend Plan (Rs.) 17.7909 Growth Plan (Rs.) 25.79 Growth Plan (Rs.) 17.7909 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 57.51% NAV as on 31-Mar-2007 b) Dividends declared during the Half - year ended March 31, 2007: Nil Growth Plan (Rs.) 28.67 c) Portfolio Turnover Ratio during the Half - year ended March 31, 2007 16.14% b) Dividends declared during the Half - year ended March 31, 2007 : NIL

TEMPLETON INDIA CHILDREN'S ASSET PLAN - GIFT PLAN TEMPLETON INDIA CHILDREN'S ASSET PLAN - EDUCATION PLAN FRANKLIN TEMPLETON FIXED TENURE FUND - SERIES VI - 60 MONTHS PLAN Company Name Industry Quantity Market Value % to Net Company Name Industry Quantity Market Value % to Net Company Name Industry Quantity Market Value % to Net Classification (Rs. in Lakhs) Assets Classification (Rs. in Lakhs) Assets Classification (Rs. in Lakhs) Assets Equity & Equity Related Equity & Equity Related Equity & Equity Related Listed/Awaiting Listing On Stock Exchanges Listed/Awaiting listing on Stock Exchanges Listed/awaiting Listing On Stock Exchanges Bharti Airtel Ltd. Telecom - Services 3,000 22.90 4.87 Kotak Mahindra Bank Ltd. Banks 400 1.92 1.60 Housing Development Finance Corp. Ltd. Finance 24,421 371.28 2.19 Kotak Mahindra Bank Ltd. Banks 4,000 19.19 4.09 Bharti Airtel Ltd. Telecom - Services 250 1.91 1.60 Grasim Industries Ltd. Cement 14,118 295.24 1.74 Housing Development Finance Infosys Technologies Ltd. Software 70 1.41 1.17 Infosys Technologies Ltd. Software 14,555 292.93 1.73 Corporation Ltd. Finance 1,052 15.99 3.40 ABB Ltd. Industrial Capital Goods 35 1.24 1.03 Kotak Mahindra Bank Ltd. Banks 60,733 291.31 1.72 ABB Ltd. Industrial Capital Goods 400 14.20 3.02 Housing Development Finance Corporation Ltd. Finance 80 1.22 1.01 ABB Ltd. Industrial Capital Goods 7,254 257.59 1.52 Grasim Industries Ltd. Cement 668 13.97 2.97 Motor Industries Co. Ltd. Auto Ancillaries 36 1.17 0.98 ICICI Bank Ltd. Banks 29,202 249.12 1.47 Infosys Technologies Ltd. Software 680 13.69 2.91 Tata Consultancy Services Ltd. Software 87 1.07 0.89 Motor Industries Co. Ltd. Auto Ancillaries 7,613 248.16 1.46 Motor Industries Co. Ltd. Auto Ancillaries 380 12.39 2.64 Grasim Industries Ltd. Cement 50 1.05 0.87 Tata Consultancy Services Ltd. Software 18,832 231.86 1.37 Tata Consultancy Services Ltd. Software 990 12.19 2.59 ICICI Bank Ltd. Banks 96 0.82 0.68 Larsen & Toubro Ltd. Diversified 13,275 214.94 1.27 ICICI Bank Ltd. Banks 1,373 11.71 2.49 Larsen & Toubro Ltd. Diversified 48 0.78 0.65 Maruti Udyog Ltd. Auto 19,774 162.09 0.96 Larsen & Toubro Ltd. Diversified 628 10.17 2.16 Maruti Udyog Ltd. Auto 85 0.70 0.58 Reliance Industries Ltd. Petroleum Products 11,474 157.00 0.93 Maruti Udyog Ltd. Auto 990 8.12 1.73 Siemens Ltd. Industrial Capital Goods 60 0.65 0.54 Siemens Ltd. Industrial Capital Goods 13,827 150.80 0.89 Siemens Ltd. Industrial Capital Goods 689 7.51 1.60 Bajaj Auto Ltd. Auto 25 0.61 0.51 Bajaj Auto Ltd. Auto 298 7.23 1.54 Bharti Airtel Ltd. Telecom - Services 19,515 148.94 0.88 Madras Cements Ltd. Cement 19 0.52 0.43 Pantaloon Retail (India) Ltd. Retailing 36,722 145.77 0.86 Marico Ltd. Consumer Non Durables 9,580 5.87 1.25 Exide Industries Ltd. Auto Ancillaries 1,078 0.46 0.38 Exide Industries Ltd. Auto Ancillaries 13,068 5.57 1.19 Bajaj Auto Ltd. Auto 5,507 133.57 0.79 Madras Cements Ltd. Cement 201 5.47 1.16 Marico Ltd. Consumer Non Durables 741 0.45 0.37 Marico Ltd. Consumer Non Durables 216,861 132.94 0.78 Reliance Industries Ltd. Petroleum Products 396 5.42 1.15 Satyam Computer Services Ltd. Software 94 0.44 0.37 Centurion Bank of Punjab Ltd. Banks 325,243 122.13 0.72 Satyam Computer Services Ltd. Software 1,084 5.10 1.09 Cummins India Ltd. Industrial Products 161 0.43 0.36 Madras Cements Ltd. Cement 4,375 119.05 0.70 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 624 4.54 0.97 Dr. Reddy’s Laboratories Ltd. Pharmaceuticals 53 0.39 0.32 Exide Industries Ltd. Auto Ancillaries 248,361 105.93 0.62 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 408 4.30 0.92 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 34 0.36 0.30 Cummins India Ltd. Industrial Products 37,970 100.58 0.59 Tata Motors Ltd. Auto 579 4.21 0.90 Jaiprakash Associates Ltd. Construction 64 0.34 0.28 Satyam Computer Services Ltd. Software 21,365 100.44 0.59 Cummins India Ltd. Industrial Products 1,576 4.17 0.89 Tata Motors Ltd. Auto 47 0.34 0.28 Jaiprakash Associates Ltd. Construction 17,917 96.52 0.57 Jaiprakash Associates Ltd. Construction 726 3.91 0.83 Reliance Industries Ltd. Petroleum Products 22 0.30 0.25 Aditya Birla Nuvo Ltd. Textile Products 8,440 89.62 0.53 Centurion Bank of Punjab Ltd. Banks 9,182 3.45 0.73 Centurion Bank of Punjab Ltd. Banks 712 0.27 0.22 Tata Motors Ltd. Auto 11,832 86.11 0.51 Aditya Birla Nuvo Ltd. Textile Products 289 3.07 0.65 Aditya Birla Nuvo Ltd. Textile Products 24 0.25 0.21 India Infoline Ltd. Finance 908 3.03 0.64 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 11,766 85.60 0.51 India Infoline Ltd. Finance 74 0.25 0.21 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 7,573 79.82 0.47 HDFC Bank Ltd. Banks 288 2.73 0.58 HDFC Bank Ltd. Banks 24 0.23 0.19 Petronet LNG Ltd. Gas 6,325 2.65 0.56 Petronet LNG Ltd. Gas 536 0.22 0.18 India Infoline Ltd. Finance 17,071 56.94 0.34 Infrastructure Development Finance Hindalco Industries Ltd. HDFC Bank Ltd. Banks 5,296 50.28 0.30 Corporation Ltd. Finance 2,166 1.81 0.39 (Partly Paid Shares) Non - Ferrous Metals 211 0.17 0.14 Petronet LNG Ltd. Gas 118,670 49.78 0.29 Pantaloon Retail (India) Ltd. Retailing 322 1.28 0.27 Infrastructure Development Finance Corp. Ltd. Finance 40,647 34.02 0.20 Hindalco Industries Ltd. Infrastructure Development Finance Corporation Ltd. Finance 185 0.15 0.12 Idea Cellular Ltd. Telecom - Services 5,063 4.79 0.03 (Partly Paid Shares) Non - Ferrous Metals 1,031 0.83 0.18 Pantaloon Retail (India) Ltd. Retailing 26 0.10 0.08 Total 1,395,272 4,665.15 27.53 Idea Cellular Ltd. Telecom - Services 414 0.39 0.08 Idea Cellular Ltd. Telecom - Services 90 0.09 0.07 Total 5,517 20.31 16.87 Debt Instruments Rating Total 64,315 237.06 50.44 (a) Listed / awaiting listing on Stock Exchanges Non - Traded / Thinly Traded Scrips Debt Instruments Rating Debt Instruments Rating Listed / awaiting listing on Stock Exchanges Listed / awaiting listing on Stock Exchanges Power Finance Corporation Ltd. AAA 240 2,320.27 13.70 Non - Traded / Thinly Traded Scrips Non - Traded / Thinly Traded Scrips Export Import Bank of India AAA 240 2,304.17 13.60 Housing Development Finance Corporation Ltd. AAA 5 47.92 10.20 Housing Development Finance Corporation Ltd. AAA 1 9.58 7.98 Infrastructure Development Finance Corporation Ltd. LAAA 230 2,209.26 13.04 Total 5 47.92 10.20 Total 1 9.58 7.98 Housing Development Finance Corporation Ltd. AAA 230 2,204.48 13.01 Totals 284.98 60.65 Power Grid Corporation of India Ltd. AAA 140 1,687.98 9.96 Call,Cash & Other Assets 184.86 39.35 Totals 29.89 24.85 Total 1,080 10,726.16 63.31 Net Assets 469.84 100.00 Call,Cash & Other Assets 90.36 75.15 (b) Privately Placed / Unlisted Net Assets 120.25 100.00 Power Grid Corporation of India Ltd. AAA 400 439.84 2.60 Note: Total 400 439.84 2.60 Note: Money Market Instruments a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Certificate of Deposit NAV as on 30-Sep-2006 Union Bank of India A1+ 400 382.52 2.26 Dividend Plan (Rs.) 27.7491 NAV as on 30-Sep-2006 ICICI Bank Ltd. P1+ 200 199.25 1.18 Growth Plan (Rs.) 27.7491 Growth Plan (Rs.) 24.1570 Total 600 581.77 3.44 NAV as on 31-March-2007 NAV as on 31-March-2007 Totals 16,412.92 96.88 Growth Plan (Rs.) 25.4466 Call,Cash & Other Assets 529.03 3.12 Dividend Plan (Rs.) 30.3753 Net Assets 16,941.95 100.00 Growth Plan (Rs.) 30.3753 b) Dividends declared during the Half - year ended March 31, 2007: NIL b) Dividends declared during the Half - year ended March 31, 2007: NIL c) Average Maturity as on March 31, 2007 0.43 years Note: c) Average Maturity as on March 31, 2007 0.92 years a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 FT INDIA BALANCED FUND NAV as on 30-Sept-2006 Dividend Plan (Rs.) 10.3994 TEMPLETON INDIA PENSION PLAN Company Name Industry Quantity Market Value % to Net Classification (Rs. in Lakhs) Assets Growth Plan (Rs.) 10.3994 Company Name Industry Quantity Market Value % to Net NAV as on 31-Mar-2007 Classification (Rs. in Lakhs) Assets Equity & Equity Related (a) Listed/Awaiting listing on Stock Exchanges Dividend Plan (Rs.) 10.5847 Equity & Equity Related Kotak Mahindra Bank Ltd. Banks 259,000 1,242.29 4.81 Growth Plan (Rs.) 10.5847 Listed/Awaiting Listing On Stock Exchanges Housing Development Finance Corp. Ltd. Finance 71,188 1,082.31 4.19 b) Dividends declared during the Half - year ended March 31, 2007: NIL Kotak Mahindra Bank Ltd. Banks 81,000 388.52 2.79 Bharti Airtel Ltd. Telecom - Services 138,700 1,058.56 4.10 Bharti Airtel Ltd. Telecom - Service 49,000 373.97 2.69 Grasim Industries Ltd. Cement 46,162 965.36 3.74 c) Average Maturity as on March 31, 2007 4.05 years Housing Development Finance Corporation Ltd. Finance 22,227 337.93 2.43 Tata Consultancy Services Ltd. Software 70,430 867.13 3.36 Grasim Industries Ltd. Cement 14,719 307.81 2.24 ABB Ltd. Industrial Capital Goods 23,000 816.73 3.16 FRANKLIN TEMPLETON FIXED TENURE FUND - SERIES III - 36 MONTHS PLAN Motor Industries Co. Ltd. Auto Ancillaries 25,000 814.94 3.16 Infosys Technologies Ltd. Software 14,000 281.76 2.02 Company Name Industry Quantity Market Value % to Net Tata Consultancy Services Ltd. Software 21,729 267.53 1.92 Infosys Technologies Ltd. Software 40,000 805.04 3.12 ICICI Bank Ltd. Banks 90,417 771.35 2.99 Classification (Rs. in Lakhs) Assets ABB Ltd. Industrial Capital Goods 7,409 263.09 1.89 Larsen & Toubro Ltd. Diversified 43,373 702.27 2.72 Motor Industries Co. Ltd. Auto Ancillaries 8,000 260.78 1.87 Equity & Equity Related Reliance Industries Ltd. Petroleum Products 39,425 539.47 2.09 Listed/Awaiting Listing On Stock Exchanges ICICI Bank Ltd. Banks 29,144 248.63 1.78 Maruti Udyog Ltd. Auto 65,444 536.44 2.08 Larsen & Toubro Ltd. Diversified 13,822 223.80 1.61 Housing Development Finance Corporation Ltd. Finance 11,593 176.25 1.52 Siemens Ltd. Industrial Capital Goods 48,031 523.85 2.03 Infosys Technologies Ltd. Software 6,909 139.05 1.20 Maruti Udyog Ltd. Auto 21,158 173.43 1.24 Bajaj Auto Ltd. Auto 19,867 481.86 1.87 Reliance Industries Ltd. Petroleum Products 11,705 160.17 1.15 Kotak Mahindra Bank Ltd. Banks 28,830 138.28 1.19 Marico Ltd. Consumer Non Durables 749,736 459.59 1.78 Grasim Industries Ltd. Cement 6,612 138.27 1.19 Siemens Ltd. Industrial Capital Goods 14,590 159.13 1.14 Madras Cements Ltd. Cement 15,597 424.43 1.64 Reliance Industries Ltd. Petroleum Products 9,893 135.37 1.17 Bajaj Auto Ltd. Auto 6,032 146.30 1.05 Dr. Reddy’s Laboratories Ltd. Pharmaceuticals 57,000 414.68 1.61 ICICI Bank Ltd. Banks 14,126 120.51 1.04 Marico Ltd. Consumer Non Durables 227,677 139.57 0.99 Centurion Bank of Punjab Ltd. Banks 948,268 356.07 1.38 Motor Industries Co. Ltd. Auto Ancillaries 3,614 117.81 1.02 Madras Cements Ltd. Cement 4,845 131.84 0.95 Cummins India Ltd. Industrial Products 130,795 346.48 1.34 ABB Ltd. Industrial Capital Goods 3,265 115.94 1.00 Dr. Reddy’s Laboratories Ltd. Pharmaceuticals 17,000 123.68 0.89 Satyam Computer Services Ltd. Software 73,565 345.83 1.34 Exide Industries Ltd. Auto Ancillaries 767,023 327.14 1.27 Tata Consultancy Services Ltd. Software 9,093 111.95 0.96 Centurion Bank of Punjab Ltd. Banks 313,444 117.70 0.84 Larsen & Toubro Ltd. Diversified 6,330 102.49 0.88 Exide Industries Ltd. Auto Ancillaries 263,307 112.30 0.81 Jaiprakash Associates Ltd. Construction 57,394 309.18 1.20 Tata Motors Ltd. Auto 39,308 286.06 1.11 Maruti Udyog Ltd. Auto 10,152 83.22 0.72 Cummins India Ltd. Industrial Products 42,235 111.88 0.80 Siemens Ltd. Industrial Capital Goods 6,941 75.70 0.65 Satyam Computer Services Ltd. Software 22,792 107.15 0.77 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 26,073 274.81 1.06 Aditya Birla Nuvo Ltd. Textile Products 20,134 213.78 0.83 Bharti Airtel Ltd. Telecom - Services 9,264 70.70 0.61 Jaiprakash Associates Ltd. Construction 18,523 99.78 0.71 India Infoline Ltd. Finance 57,061 190.33 0.74 Pantaloon Retail (India) Ltd. Retailing 17,544 69.64 0.60 Tata Motors Ltd. Auto 12,776 92.98 0.67 HDFC Bank Ltd. Banks 18,550 176.11 0.68 Bajaj Auto Ltd. Auto 2,614 63.40 0.55 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 8,007 84.39 0.61 Petronet LNG Ltd. Gas 403,353 169.21 0.66 Marico Ltd. Consumer Non Durables 101,245 62.06 0.53 Aditya Birla Nuvo Ltd. Textile Products 6,265 66.52 0.48 Infrastructure Development Finance Corp. Ltd. Finance 137,931 115.45 0.45 Centurion Bank of Punjab Ltd. Banks 145,875 54.78 0.47 India Infoline Ltd. Finance 17,464 58.25 0.42 Pantaloon Retail (India) Ltd. Retailing 21,054 83.57 0.32 Madras Cements Ltd. Cement 1,962 53.39 0.46 HDFC Bank Ltd. Banks 5,704 54.15 0.39 Hindalco Industries Ltd. (Partly Paid Shares) Non-Ferrous Metals 82,531 66.81 0.26 Exide Industries Ltd. Auto Ancillaries 111,898 47.72 0.41 Petronet LNG Ltd. Gas 125,594 52.69 0.38 Idea Cellular Ltd. Telecom - Services 27,045 25.57 0.10 Satyam Computer Services Ltd. Software 9,935 46.70 0.40 Infrastructure Development Finance Corporation Ltd. Finance 43,051 36.03 0.26 Total 4,612,455 15,792.70 61.19 Cummins India Ltd. Industrial Products 17,026 45.10 0.39 Pantaloon Retail (India) Ltd. Retailing 6,276 24.91 0.17 (b) Unlisted** Tata Motors Ltd. Auto 5,970 43.45 0.37 Hindalco Industries Ltd. (Partly Paid Shares)Non - Ferrous Metals 20,632 16.70 0.12 Globsyn Technolgies Ltd. 270,000 0.03 0.00* Jaiprakash Associates Ltd. Construction 8,029 43.25 0.37 Idea Cellular Ltd. Telecom - Services 8,127 7.68 0.06 Numero Uno International Ltd. 27,500 0.00 0.00* Aditya Birla Nuvo Ltd. Textile Products 3,944 41.88 0.36 Total 1,478,254 5,031.05 36.11 Total 2,97,500 0.03 0.00* Dr. Reddy's Laboratories Ltd. Pharmaceuticals 5,231 38.06 0.33 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 3,434 36.19 0.31 Debt Instruments Rating Debt Instruments Rating India Infoline Ltd. Finance 7,653 25.53 0.22 Listed / awaiting listing on Stock Exchanges (a) Listed / awaiting listing on Stock Exchanges HDFC Bank Ltd. Banks 2,357 22.38 0.19 Non - Traded / Thinly Traded Scrips Non - Traded / Thinly Traded Scrips Petronet LNG Ltd. Gas 52,694 22.11 0.19 Industrial Development Bank of India Ltd. AA+ 250 2,497.91 9.68 Infrastructure Development Finance Corporation Ltd. Finance 18,065 15.12 0.13 Indian Railway Finance Corporation AAA 200 1,884.27 13.52 Housing Development Finance Corporation Ltd. AAA 200,100 1,155.63 4.48 Housing Development Finance Corporation Ltd. AAA 170 1,634.41 11.73 Idea Cellular Ltd. Telecom - Services 3,530 3.34 0.03 Export Import Bank of India AAA 100 954.67 3.70 Total 645,628 2,259.64 19.46 State Bank of India AAA 15 1,500.54 10.77 Power Finance Corporation Ltd. AAA 600,010 654.24 2.53 Power Finance Corporation Ltd. AAA 90 848.15 6.09 Debt Instruments Rating Indian Railway Finance Corporation AAA 60 574.46 2.23 Listed / awaiting listing on Stock Exchanges NABARD AAA 50 500.02 3.59 Infrastructure Development Finance Corp. Ltd. LAAA 50 480.27 1.86 Ultratech Cement Ltd. AA+ 50 462.26 3.32 Power Grid Corporation of India Ltd. AAA 365,000 298.32 1.16 Non - Traded / Thinly Traded Scrips Power Grid Corporation of India Ltd. AAA 5 45.83 0.33 Total 1,165,570 6,615.50 25.64 Mahindra and Mahindra Financial Services Ltd. AA+ 155 1,492.23 12.86 Total 580 6,875.48 49.35 NABARD AAA 150 1,440.35 12.41 (b) Privately Placed / Unlisted Citicorp Finance (India) Ltd. AAA 150 1,428.74 12.31 BHPC Auto Securitisation Trust PTC AUG-06 I A2 Kotak Mahindra Prime Ltd. LAA 100 976.18 8.41 Goverment Securities (Originator - Tata Motors Ltd.) AAA (SO) 12 1,247.75 4.83 Sundaram Finance Ltd. LAA+ 100 974.77 8.40 08.33% GOI 2036 SOV 500,000 499.00 3.58 Retail Trust PTC Sept - 06 Series A1 Housing Development Finance Corporation Ltd. AAA 70 679.51 5.85 Total 500,000 499.00 3.58 (Originator - HDFC Bank Ltd.) A1+ (SO) 19 988.91 3.83 National Thermal Power Corporation Ltd. AAA 250 502.23 4.33 Indian Retail ABS Trust PTC Series 39 A3 Ultratech Cement Ltd. AA+ 50 476.72 4.11 Money Market Instruments (Originator - ICICI Bank) AAA (SO) 2 159.96 0.62 Power Finance Corporation Ltd. AAA 500 472.79 4.07 Total 33 2,396.62 9.28 Total 1,525 8,443.52 72.75 Certificate of Deposit Money Market Instruments Money Market Instruments Union Bank of India A1+ 1,800 1,721.83 12.36 Commercial Paper Certificate of Deposit Total 1,800 1,721.83 12.36 ICICI Home Finance Company Ltd. A1+ 200,000 192.31 0.75 Union Bank of India A1+ 400 382.52 3.30 Total 200,000 192.31 0.75 Total 400 382.52 3.30 Totals 14,127.36 101.40 Certificate of Deposit Totals 11,085.68 95.51 Call,Cash & Other Assets (194.59) (1.40) Union Bank of India A1+ 700 669.40 2.59 Call,Cash & Other Assets 520.93 4.49 Net Assets 13,932.77 100.00 Total 700 669.40 2.59 Net Assets 11,606.61 100.00 Note: Totals 25,666.56 99.45 Note: a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Call,Cash & Other Assets 142.40 0.55 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Net Assets 25,808.96 100.00 NAV as on 30-Sep-2006 NAV as on 30-Sept-2006 Dividend Plan (Rs.) 17.8386 Note: * Less than 0.01% Dividend Plan (Rs.) 10.8473 Growth Plan (Rs.) 40.7948 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Growth Plan (Rs.) 10.8473 NAV as on 31-Mar-2007 NAV as on 30-Sep-2006 NAV as on 31-Mar-2007 Dividend Plan (Rs.) 16.4672 Dividend Plan (Rs.) 21.3004 Dividend Plan (Rs.) 10.1352 Growth Plan (Rs.) 42.8436 Growth Plan (Rs.) 29.9075 Growth Plan (Rs.) 11.0390 b) Dividends declared during the Half - year ended March 31, 2007 : NAV as on 31-March-2007 b) Dividends declared during the Half - year ended March 31, 2007: Record date Dividend per unit Dividend %age to Face Value Dividend Plan (Rs.) 22.8796 Record date Dividend per unit Dividend %age to Face Value Growth Plan (Rs.) 32.1250 27-Feb-07 20-Dec-06 2.0000 20.0000 b) Dividends declared during the Half - year ended March 31, 2007: NIL Individuals/HUF 0.7893 7.8930 c) Average Maturity as on March 31, 2007 1.70 years Others 0.7351 7.3505 c) Average Maturity as on March 31, 2007 9.77 years d) ** Total value and percentage of illiquid equity shares Rs. 0.03 lacs and 0.00012% of net assets c) Average Maturity as on March 31, 2007 1.45 years UNAUDITED HALF - YEARLY PORTFOLIO STATEMENT OF THE SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND AS ON MARCH 31, 2007

TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT Company Name Rating Quantity Market Value % to Net Company Name Rating Quantity Market Value % to Net Record date Dividend per unit Dividend %age to Face Value (Rs. in Lakhs) Assets (Rs. in Lakhs) Assets Debt Instruments Fixed Deposits Institutional Plan - Weekly Dividend Oct-06 (a) Listed / awaiting listing on Stock Exchanges UTI Bank Ltd. 45,500.00 19.51 Non - Traded / Thinly Traded Scrips Individuals/HUF 4.6044 0.4604 Union Bank of India 5,000.00 2.14 Others 4.2879 0.4288 Industrial Development Bank of India Ltd. AA+ 2,645 26,648.51 11.42 Total 50,500.00 21.65 Nov-06 LIC Housing Finance Ltd. AAA 900 9,231.51 3.97 Totals 229,356.46 98.33 Individuals/HUF 4.6876 0.4688 National Housing Bank Ltd. AAA 640 6,402.53 2.74 Others 4.3654 0.4365 Housing Development Finance Corporation Ltd. AAA 600 6,003.07 2.57 Call,Cash & Other Assets 3,905.59 1.67 Dec-06 NABARD AAA 600 5,993.09 2.57 Net Assets 233,262.05 100.00 Individuals/HUF 6.3095 0.6310 Citicorp Finance (India) Ltd. AAA 300 2,998.19 1.29 Others 5.8759 0.5876 Sundaram Finance Ltd. MAAA 250 2,503.62 1.07 *Less than 0.01% Jan-07 Note: Mahindra and Mahindra Financial Services Ltd. AA+ 230 2,302.10 0.99 Individuals/HUF 4.6788 0.4679 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Others 4.3572 0.4357 Infrastructure Development Finance Corporation Ltd. LAAA 150 1,276.18 0.55 NAV as on 30-Sept-2006 Feb-07 Citifinancial Consumer Finance India Ltd. AAA 100 996.32 0.43 Regular - Growth Plan (Rs) 1797.6568 Individuals/HUF 4.9079 0.4908 Total 6415 64,355.12 27.60 Regular - Weekly Dividend Plan (Rs) 1245.7218 Others 4.5706 0.4571 (b) Privately Placed / Unlisted Regular - Daily Dividend Plan (Rs) 1512.6065 Mar-07 Indian Retail ABS Trust PTC Series 68 A1 Institutional Growth (Rs) 1129.6601 Individuals/HUF 5.5645 0.5564 Institutional Weekly (Rs) 1001.7682 Others 5.1820 0.5182 (Originator - ICICI Bank Ltd.) LAAASO 197 13,131.18 5.63 Institutional Daily (Rs) 1000.4337 Retail Trust March 2005 Series A8 PTC Liquid Growth (Rs) 1107.0039 Super Institutional Plan - Daily Dividend Oct-06 (Originator - HDFC Bank Ltd.) LAAA (SO) 140 8,691.46 3.73 Liquid Weekly (Rs) 1001.6562 Individuals/HUF 5.4077 0.5408 Rabo India Finance Ltd. AAA 450 4,513.02 1.93 Liquid Daily (Rs) 1000.4176 Super Institutional Growth (Rs) 1066.9527 Others 5.0361 0.5036 Indian Retail ABS Trust PTC Series 64 A1Y Super Institutional Weekly (Rs) 1017.3583 Nov-06 (Originator - ICICI Bank Ltd.) AAA (SO) 94 4,395.51 1.88 Super Institutional Daily (Rs) 1000.4392 Individuals/HUF 5.1666 0.5167 Indian Retail ABS Trust PTC Series 50 A1 NAV as on 31-Mar-2007 Others 4.8115 0.4812 (Originator - ICICI Bank Ltd.) AAA (SO) 118 3,135.06 1.34 Regular - Growth Plan (Rs) 1863.0827 Dec-06 Regular - Weekly Dividend Plan (Rs) 1246.5903 Individuals/HUF 5.2033 0.5203 Retail Trust PTC Sept - 06 Series A1 Regular - Daily Dividend Plan (Rs) 1512.8501 (Originator - HDFC Bank Ltd.) A1+ (SO) 55 2,862.62 1.23 Others 4.8457 0.4846 Institutional Growth (Rs) 1172.3282 Jan-07 Indian Retail ABS Trust PTC Series 54 A2 Institutional Weekly (Rs) 1002.4745 Individuals/HUF 5.9382 0.5938 Institutional Daily (Rs) 1000.5956 (Originator - ICICI Bank Ltd.) LAAASO 28 2,569.52 1.10 Others 5.5301 0.5530 Indian Retail ABS Trust PTC Series 67 A1 Liquid Growth (Rs) 1145.8648 Liquid Weekly (Rs) 1002.3562 Feb-07 (Originator - ICICI Bank Ltd.) AAA (SO) 60 2,555.81 1.10 Liquid Daily (Rs) 1000.5805 Individuals/HUF 5.0285 0.5029 Retail Trust February 2005 Series A1 PTC Super Institutional Growth (Rs) 1108.3335 Others 4.6829 0.4683 (Originator - HDFC Bank Ltd.) LAAA (SO) 65 2,072.97 0.89 Super Institutional Weekly (Rs) 1018.0755 Mar-07 Indian Retail ABS Trust PTC Series 62 A1Y Super Institutional Daily (Rs) 1000.6011 Individuals/HUF 6.4973 0.6497 Others 6.0507 0.6051 (Originator - ICICI Bank Ltd.) A1+ (SO) 90 1,757.14 0.75 b) Dividends / Bonus declared in the Templeton India Treasury Management Account during the Super Institutional Plan - Weekly Dividend Indian Retail ABS Trust PTC Series 69 A2 Half-Year ended March 31, 2007 : Oct-06 (Originator - ICICI Bank Ltd.) AAA (SO) 15 1,501.80 0.65 Individuals/HUF 4.8129 0.4813 Indian Retail ABS Trust PTC Series 43 A2 Record date Dividend per unit Dividend %age to Face Value Others 4.4821 0.4482 (Originator - ICICI Bank) AAA (SO) 70 1,263.28 0.54 Nov-06 Indian Retail ABS Trust PTC Series 69 A1 Regular Weekly Dividend Plan Individuals/HUF 4.8972 0.4897 Oct-06 Others 4.5607 0.4561 (Originator - ICICI Bank Ltd.) A1+ (SO) 100 778.75 0.33 Individuals/HUF 5.5168 0.5517 Indian Retail ABS Trust PTC (Series 37 - A1) - Dec-06 Others 5.1377 0.5138 Individuals/HUF 6.5648 0.6565 (Originator - ICICI Bank) LAAA (SO) 70 732.87 0.31 Nov-06 Individuals/HUF 5.6200 0.5620 Others 6.1136 0.6114 UBL Trust PTC Series 11 Jan-07 (Originator - Indus Ind Bank) AAA (SO) 30 702.25 0.30 Others 5.2337 0.5234 Dec-06 Individuals/HUF 4.8837 0.4884 Indian Retail ABS Trust PTC Series 39 - A2 Individuals/HUF 7.5566 0.7557 Others 4.5481 0.4548 (Originator - ICICI Bank) AAA (SO) 59 659.38 0.28 Others 7.0372 0.7037 Feb-07 Indian Retail ABS Trust PTC Series 61 - A1 Jan-07 Individuals/HUF 5.1209 0.5121 (Originator - ICICI Bank) A1+ (SO) 35 597.22 0.26 Individuals/HUF 5.6163 0.5616 Others 4.7690 0.4769 Others 5.2303 0.5230 Citifinancial Consumer Finance India Ltd. AAA 50 497.51 0.21 Mar-07 Feb-07 Individuals/HUF 5.7880 0.5788 Indian Retail ABS Trust PTC Series 47 A1 Individuals/HUF 5.8772 0.5877 Others 5.3902 0.5390 (Originator - ICICI Bank) LAAA (SO) 10 218.55 0.09 Others 5.4733 0.5473 Liquid Plan - Daily Dividend Indian Retail ABS Trust PTC Series 24 PA3 Mar-07 Oct-06 Individuals/HUF 6.6686 0.6669 (Originator - ICICI Bank Ltd.) AAA (SO) 15 209.97 0.09 Others 6.2103 0.6210 Individuals/HUF 4.8677 0.4868 Indian Retail ABS Trust SR49 IOA1PTC Others 4.5332 0.4533 Regular Daily Dividend Plan Nov-06 (Originator - ICICI Bank Ltd.) AAA (SO) 40 166.99 0.07 Oct-06 Indian Retail ABS Trust PTC SR45 IO-A1PTC Individuals/HUF 4.6648 0.4665 Individuals/HUF 7.6525 0.7653 Others 4.3442 0.4344 (Originator - ICICI Bank Ltd.) AAASO 22 87.47 0.04 Others 7.1266 0.7127 Dec-06 Mahindra & Mahindra Financial Services Nov-06 Individuals/HUF 7.3213 0.7321 Individuals/HUF 4.7154 0.4715 VE Trust PTC Series A6 Others 6.8181 0.6818 Others 4.3913 0.4391 (Originator - Mahindra & Mahindra Dec-06 Jan-07 Financial Services Ltd.) AAA (SO) 20 10.73 0.00* Individuals/HUF 7.3962 0.7396 Individuals/HUF 5.3829 0.5383 Citicorp Finance Fleet Trust PTC Series A2 Others 6.8878 0.6888 Others 5.0129 0.5013 (Originator Citicorp Finance (I) Ltd.) AAA (SO) 15 5.45 0.00* Jan-07 Feb-07 Individuals/HUF 8.4389 0.8439 Total 1,863 53,255.46 22.81 Individuals/HUF 4.5404 0.4540 Others 7.8589 0.7859 Others 4.2284 0.4228 Money Market Instruments Feb-07 Mar-07 Commercial Paper Individuals/HUF 7.1192 0.7119 Individuals/HUF 5.9565 0.5957 ICICI Home Finance Company Ltd. A1+ 795 3,822.15 1.64 Others 6.6299 0.6630 Mar-07 Others 5.5471 0.5547 Kotak Mahindra Prime Ltd. P1+ 40 197.95 0.08 Individuals/HUF 9.2789 0.9279 Liquid Plan - Weekly Dividend Total 835 4,020.10 1.72 Others 8.6412 0.8641 Oct-06 Certificate of Deposit Individuals/HUF 4.2679 0.4268 Institutional Plan - Daily Dividend Others 3.9746 0.3975 Union Bank of India A1+ 18,000 17,351.99 7.44 Oct-06 Nov-06 State Bank of Mysore A1+ 13,500 13,276.76 5.69 Individuals/HUF 5.2538 0.5254 Individuals/HUF 4.3499 0.4350 ICICI Bank Ltd. A1+ 8,150 7,919.99 3.40 Others 4.8927 0.4893 Nov-06 Others 4.0509 0.4051 State Bank of Mysore P1+ 5,000 4,749.71 2.04 Individuals/HUF 5.0409 0.5041 Dec-06 State Bank of India P1+ 4,000 3,959.14 1.70 Others 4.6944 0.4694 Individuals/HUF 5.8608 0.5861 State Bank of Saurashtra P1+ 2,900 2,871.54 1.23 Dec-06 Others 5.4580 0.5458 State Bank of Bikaner and Jaipur P1+ 2,100 2,044.86 0.88 Individuals/HUF 5.0638 0.5064 Jan-07 Kotak Mahindra Bank Ltd. P1+ 1,450 1,441.64 0.63 Others 4.7158 0.4716 Individuals/HUF 4.3545 0.4355 Jan-07 State Bank of Patiala A1+ 1,000 987.39 0.42 Others 4.0552 0.4055 Individuals/HUF 5.7799 0.5780 Feb-07 ABN Amro Bank P1+ 1,000 958.61 0.41 Others 5.3827 0.5383 Individuals/HUF 4.5591 0.4559 State Bank of Hyderabad A1+ 500 492.05 0.21 Feb-07 Others 4.2458 0.4246 State Bank of Indore P1+ 200 197.69 0.08 Individuals/HUF 4.8936 0.4894 Others 4.5573 0.4557 Mar-07 Total 57,800 56,251.37 24.13 Mar-07 Individuals/HUF 5.1934 0.5193 Bills Rediscounting Individuals/HUF 6.3531 0.6353 Others 4.8365 0.4836 Deutsche Bank AG 1 974.41 0.42 Others 5.9165 0.5917 c) Average Maturity as on March 31, 2007 0.37 Years Total 1 974.41 0.42

TEMPLETON MONTHLY INCOME PLAN - HALF YEARLY DIVIDEND AND GROWTH PLAN Company Name Industry Quantity Market Value % to Net Company Name Industry Quantity Market Value % to Net Company Name Industry Quantity Market Value % to Net Classification (Rs. in Lakhs) Assets Classification (Rs. in Lakhs) Assets Classification (Rs. in Lakhs) Assets Equity & Equity Related Petronet LNG Ltd. Gas 43,654 18.31 0.15 Indian Corporate Loan Securitisation Trust Listed/Awaiting Listing On Stock Exchanges HDFC Bank Ltd. Banks 1,884 17.89 0.15 PTC Series 22 A1 (Originator - Ltd.) LAAA (SO) 1 100.15 0.83 Bharti Airtel Ltd. Telecom - Services 18,000 137.38 1.13 Infrastructure Development Finance Corp. Ltd. Finance 14,958 12.52 0.10 Total 5,00,011 1,187.31 9.80 Kotak Mahindra Bank Ltd. Banks 27,000 129.51 1.07 Pantaloon Retail (India) Ltd. Retailing 2,312 9.18 0.08 Money Market Instruments Housing Development Finance Corporation Ltd. Finance 8,463 128.67 1.06 Hindalco Industries Ltd.(Partly Paid Shares) Non - Ferrous Metals 8,252 6.68 0.06 Certificate of Deposit ABB Ltd. Industrial Capital Goods 3,500 124.29 1.03 Idea Cellular Ltd. Telecom - Services 3,000 2.84 0.02 Union Bank of India A1+ 1,600 1,530.57 12.62 Grasim Industries Ltd. Cement 5,637 117.88 0.96 Total 550755 1,888.58 15.57 Total 1,600 1,530.57 12.62 Infosys Technologies Ltd. Software 5,000 100.63 0.83 Debt Instruments Rating Totals 11,930.64 98.39 ICICI Bank Ltd. Banks 11,615 99.09 0.82 (a) Listed / awaiting listing on Stock Exchanges Call,Cash & Other Assets 194.91 1.61 Motor Industries Co. Ltd. Auto Ancillaries 3,000 97.79 0.81 Non - Traded / Thinly Traded Scrips Net Assets 12,125.55 100.00 Tata Consultancy Services Ltd. Software 7,608 93.67 0.77 Industrial Development Bank of India Ltd. AA+ 185 1,848.83 15.25 Note: Larsen & Toubro Ltd. Diversified 5,238 84.81 0.70 Power Finance Corporation Ltd. AAA 130 1,214.24 10.01 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Maruti Udyog Ltd. Auto 8,314 68.15 0.56 Housing Development Finance Corporation Ltd. AAA 100 961.81 7.93 Reliance Industries Ltd. Petroleum Products 4,614 63.14 0.52 HDFC Bank Ltd. AAA 30 243.03 2.00 NAV as on 30-Sept-2006 Siemens Ltd. Industrial Capital Goods 5,420 59.11 0.49 Ultratech Cement Ltd. AA+ 125 1,155.66 9.53 Half-Yearly Dividend Plan (Rs) 12.3896 Madras Cements Ltd. Cement 1,865 50.75 0.42 Sundaram Finance Ltd. LAA+ 75 731.08 6.03 Growth Plan (Rs) 19.3305 Centurion Bank of Punjab Ltd. Banks 124,845 46.88 0.39 Mahindra and Mahindra Financial Services Ltd. AA+ 60 600.55 4.95 NAV as on 31-Mar-2007 Marico Ltd. Consumer Non Durables 76,374 46.82 0.39 Export Import Bank of India AAA 50 477.33 3.94 Half-Yearly Dividend Plan (Rs) 12.0004 Bajaj Auto Ltd. Auto 1,912 46.37 0.38 Power Grid Corporation of India Ltd. AAA 10 91.65 0.76 Growth Plan (Rs) 19.7514 Exide Industries Ltd. Auto Ancillaries 103,070 43.96 0.36 Total 765 7,324.18 60.40 b) Dividends declared in the Half - Yearly dividend Plan during the Half - year ended March 31, 2007 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 6,000 43.65 0.36 (b) Privately Placed / Unlisted Cummins India Ltd. Industrial Products 16,148 42.78 0.35 Indian Retail ABS Trust PTC Series 68 A1 Record date Dividend per unit Dividend %age to Face Value Satyam Computer Services Ltd. Software 8,759 41.18 0.34 (Originator - ICICI Bank Ltd.) LAAASO 7 466.59 3.85 Half - yearly Dividend Plan Jaiprakash Associates Ltd. Construction 7,298 39.31 0.32 JUS Trust PTC - Jet Airways Series 9 28-Mar-07 Tata Motors Ltd. Auto 5,070 36.90 0.30 (Originator - UTI Bank ) AAA (SO) 500,000 380.63 3.14 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 2,939 30.98 0.26 Indian Retail ABS Trust PTC Series 39 A3 Individuals/HUF 0.2193 2.1925 Aditya Birla Nuvo Ltd. Textile Products 2,392 25.40 0.21 (Originator - ICICI Bank) AAA (SO) 3 239.94 1.98 Others 0.2042 2.0418 India Infoline Ltd. Finance 6,614 22.06 0.18 c) Average Maturity as on March 31, 2007 2.21 Years

TEMPLETON FLOATING RATE INCOME FUND - SHORT TERM PLAN Company Name Industry Quantity Market Value % to Net Company Name Industry Quantity Market Value % to Net b) Dividends declared in the Templeton Floating Rate Income Fund - Short Term (Dividend Plan) during Classification (Rs. in Lakhs) Assets Classification (Rs. in Lakhs) Assets each month for the Half - year ended March 31, 2007 : Debt Instruments (Originator - ICICI Bank) LAAA (SO) 5 109.27 0.18 Record date Dividend per unit Dividend %age to Face Value (a) Listed / awaiting listing on Stock Exchanges Loan Recievable Trust PTC -March 2007 Series A4 Weekly Dividend Plan Non - Traded / Thinly Traded Scrips (Originator - Citi Bank) AA (ind) (SO) 1 88.45 0.15 Oct-06 Mahindra and Mahindra Financial Services Ltd. AA+ 610 6,101.92 10.06 Indian Retail ABS Trust PTC SR45 IO-A1PTC Individuals/HUF 0.0466 0.4657 LIC Housing Finance Ltd. AAA 500 5,037.20 8.31 (Originator - ICICI Bank Ltd.) AAASO 18 71.57 0.12 Others 0.0434 0.4337 Industrial Development Bank of India Ltd. AA+ 410 4,140.90 6.83 Fleet Trust PTC Series A6 Nov-06 Citifinancial Consumer Finance India Ltd. AAA 250 2,500.00 4.12 (Originator - CiticorpFinance (India) Ltd. Individuals/HUF 0.0460 0.4595 & Citibank N.A) AAA (SO) 15 55.11 0.09 Housing Development Finance Corporation Ltd. AAA 250 2,387.25 3.94 Others 0.0428 Fleet Trust PTC Series A2 National Housing Bank Ltd. AAA 150 1,500.59 2.47 Dec-06 Ultratech Cement Ltd. AA+ 150 1,484.46 2.45 (Originator - Citicorp Finance (India) Ltd. & Citibank N.A) AAA (SO) 10 26.35 0.04 Individuals/HUF 0.0622 0.6218 Tata Motors Ltd. AA+ 5 501.90 0.83 Others 0.0579 0.5791 Indian Railway Finance Corporation AAA 50 500.37 0.83 Total 480 12,227.09 20.15 Jan-07 Infrastructure Development Finance Corporation Ltd. LAAA 50 425.39 0.70 Money Market Instruments Individuals/HUF 0.0470 0.4701 Total 2,425 24,579.98 40.54 Certificate of Deposit (b) Privately Placed / Unlisted Others 0.0438 0.4378 State Bank of Bikaner and Jaipur P1+ 1,400 1,325.86 2.19 Feb-07 BHPC Auto Sec Trust PTC AUG-06 I A1 State Bank of Mysore A1+ 500 494.86 0.82 (Originator - Tata Motors Ltd.) AAA (SO) 30 2,232.94 3.68 Individuals/HUF 0.0506 0.5060 Total 1900 1,820.72 3.01 Others 0.0471 0.4713 Indian Retail ABS Trust PTC Series 52 A2 Fixed Deposits (Originator - ICICI Bank Ltd.) LAAASO 21 1,770.12 2.92 UTI Bank Ltd. 11,500.00 18.97 Mar-07 Indian Retail ABS Trust PTC Series 39 A3 State Bank of Saurashtra 5,000.00 8.25 Individuals/HUF 0.0563 0.5630 (Originator - ICICI Bank) AAA (SO) 21 1,679.60 2.76 Union Bank of India 5,000.00 8.25 Others 0.0524 0.5243 Indian Retail ABS Trust PTC Series 61 - A1 Total 21,500.00 35.47 Institutional Option Dividend (Originator - ICICI Bank Ltd.) A1+ (SO) 65 1,109.11 1.83 Oct-06 Indian Retail ABS Trust PTC Series 50 A1 Totals 60,127.79 99.17 Individuals/HUF 0.0480 0.4797 Others 0.0447 0.4467 (Originator - ICICI Bank Ltd.) AAA (SO) 40 1,062.73 1.75 Call, Cash and other Assets 502.83 0.83 Rabo India Finance Ltd. AAA 100 1,002.89 1.65 Nov-06 Indian Retail ABS Trust PTC Series 60 A1 Net Assets 60,630.62 100.00 Individuals/HUF 0.0474 0.4745 (Originator - ICICI Bank Ltd.) A1+ (SO) 50 892.54 1.47 Others 0.0442 0.4418 Loan Recievable Trust PTC -March 2007 Series A5 Note: Dec-06 (Originator - Citi Bank) AA (ind) (SO) 5 585.22 0.97 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Individuals/HUF 0.0639 0.6393 Indian Retail ABS Trust PTC Series 39 - A2 NAV as on 30-Sept-2006 Others 0.0595 0.5954 (Originator - ICICI Bank) AAA (SO) 36 402.33 0.66 Growth Plan (Rs) 12.9904 Jan-07 Indian Retail ABS Trust PTC Series 24 PA3 Dividend Plan (Rs) 10.0197 Individuals/HUF 0.0483 0.4832 (Originator - ICICI Bank Ltd.) AAA (SO) 25 349.96 0.58 Institutional Growth (Rs.) 10.6400 Others 0.0450 0.4500 Indian Retail ABS Trust PTC (Series 37 - A1) - Institutional Weekly Dividend (Rs.) 10.0200 Feb-07 (Originator - ICICI Bank) LAAA (SO) 30 314.09 0.52 Individuals/HUF 0.0489 0.4894 Indian Retail ABS Trust PTC Series 68 A1 NAV as on 31-Mar-2007 Growth Plan (Rs) 13.4866 Others 0.0456 0.4557 (Originator - ICICI Bank Ltd.) LAAASO 4 266.62 0.44 Mar-07 Dividend Plan (Rs) 10.0301 Retail Trust PTC Sept - 06 Series A1 Individuals/HUF 0.0405 0.4052 Institutional Growth (Rs.) 11.0576 (Originator - HDFC Bank Ltd.) A1+ (SO) 4 208.19 0.34 Others 0.0377 0.3773 Indian Retail ABS Trust PTC Series 47 A1 Institutional Weekly Dividend (Rs.) 10.0534 c) Average Maturity as on March 31, 2007: 0.56 Years UNAUDITED HALF - YEARLY PORTFOLIO STATEMENT OF THE SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND AS ON MARCH 31, 2007

FRANKLIN TEMPLETON FIXED TENURE FUND - SERIES V - 13 MONTHS PLAN FRANKLIN TEMPLETON FIXED TENURE FUND - SERIES 1 - 60 MONTHS PLAN TEMPLETON INDIA GOVERNMENT SECURITIES FUND COMPOSITE PLAN / PF PLAN Company Name Industry Quantity Market Value % to Net Company Name Industry Quantity Market Value % to Net Company Name Rating Quantity Market Value % to Net Classification (Rs. in Lakhs) Assets Classification (Rs. in Lakhs) Assets (Rs. in Lakhs) Assets Debt Instruments Equity & Equity Related Goverment Securities (a) Listed / awaiting listing on Stock Exchanges Listed/Awaiting Listing On Stock Exchanges 08.07% GOI 2017 SOV 4,500,000 4,518.90 33.08 Non - Traded / Thinly Traded Scrips Housing Development Finance Corporation Ltd. Finance 13,310 202.36 2.27 07.33% GOI 2009 SOV 2,000,000 1,964.50 14.37 Kotak Mahindra Prime Ltd. AA 250 2,498.82 5.92 Infosys Technologies Ltd. Software 7,935 159.70 1.79 08.33% GOI 2036 SOV 1,500,000 1,497.00 10.95 GE Capital Services (India) AAA 20 2,000.29 4.74 Kotak Mahindra Bank Ltd. Banks 33,082 158.68 1.78 06.65% GOI 2009 SOV 1,000,000 975.00 7.13 Sundaram Finance Ltd. P1+ 200 1,999.91 4.73 Grasim Industries Ltd. Cement 7,483 156.49 1.76 07.59% GOI 2016 SOV 1,000,000 973.00 7.12 Citifinancial Consumer Finance India Ltd. AAA 150 1,498.85 3.55 Motor Industries Co. Ltd. Auto Ancillaries 4,151 135.31 1.52 07.37% GOI 2014 SOV 1,000,000 965.00 7.06 Total 620 7,997.87 18.94 ICICI Bank Ltd. Banks 15,844 135.17 1.52 11.90% GOI 2007 SOV 121,500 122.23 0.89 (b) Privately Placed / Unlisted ABB Ltd. Industrial Capital Goods 3,787 134.48 1.51 Total 11,121,500 11,015.63 81.60 GE Countrywide AAA 45 4,500.57 10.65 Tata Consultancy Services Ltd. Software 10,453 128.70 1.44 Call,Cash & Other Assets 2,651.05 19.40 Indian Retail ABS Trust PTC Series 52 A1 Larsen & Toubro Ltd. Diversified 7,094 114.86 1.29 Maruti Udyog Ltd. Auto 10,747 88.09 0.99 (Originator - ICICI Bank) AAA (SO) 25 2,713.10 6.42 Net Assets 13,666.68 100.00 Indian Retail ABS Trust PTC Series 54 A1 Reliance Industries Ltd. Petroleum Products 6,265 85.73 0.96 (Originator - ICICI Bank) AAA (SO) 20 2,129.97 5.04 Bharti Airtel Ltd. Telecom - Services 10,637 81.18 0.91 Pantaloon Retail (India) Ltd. Retailing 20,059 79.62 0.89 Note : Total 90 9,343.64 22.11 Siemens Ltd. Industrial Capital Goods 6,800 74.16 0.83 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Money Market Instruments Bajaj Auto Ltd. Auto 3,002 72.81 0.82 NAV as on 30-Sept-2006 Certificate of Deposit Marico Ltd. Consumer Non Durables 114,103 69.95 0.78 Growth Plan (Rs) 23.7211 ICICI Bank Ltd. A1+ 10,500 10,481.05 24.81 Centurion Bank of Punjab Ltd. Banks 169,272 63.56 0.71 ICICI Bank Ltd. P1+ 8,050 8,019.79 18.99 Madras Cements Ltd. Cement 2,278 61.99 0.70 Dividend Plan (Rs) 10.8978 ING Vysya Bank Ltd. P1+ 3,000 2,995.62 7.09 Exide Industries Ltd. Auto Ancillaries 129,582 55.27 0.62 PF Growth (Rs) 10.4177 F1+IND 1,500 1,496.23 3.54 Satyam Computer Services Ltd. Software 11,373 53.46 0.60 PF Dividend (Rs) 10.4177 Kotak Mahindra Bank Ltd. P1+ 1,050 1,043.95 2.47 Cummins India Ltd. Industrial Products 19,772 52.38 0.59 Total 24,100 24,036.64 56.90 Jaiprakash Associates Ltd. Construction 9,331 50.27 0.56 NAV as on 31-Mar-2007 Aditya Birla Nuvo Ltd. Textile Products 4,518 47.97 0.54 Growth Plan (Rs) 24.2422 Totals 41,378.15 97.95 Tata Motors Ltd. Auto 6,414 46.68 0.52 Dividend Plan (Rs) 10.6440 Call,Cash & Other Assets 864.53 2.05 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 6,133 44.62 0.50 PF Growth (Rs) 10.6480 Net Assets 42,242.68 100.00 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 3,954 41.68 0.47 PF Dividend (Rs) 10.6480 Note: India Infoline Ltd. Finance 8,885 29.64 0.33 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 HDFC Bank Ltd. Banks 2,785 26.44 0.30 b) Dividends declared in the Templeton India Government Securities Fund - Composite Plan (Dividend Petronet LNG Ltd. Gas 61,864 25.95 0.29 Option) during the Half-Year ended March 31, 2007 : NAV as on 30-Sept-2006 Infrastructure Development Finance Corporation Ltd. Finance 21,190 17.74 0.20 Dividend Plan (Rs) 10.4549 Record date Dividend per unit Dividend %age to Face Value Growth Plan (Rs) 10.4549 Idea Cellular Ltd. Telecom - Services 3,989 3.77 0.04 Total 736092 2,498.71 28.03 29-Dec-06 NAV as on 31-Mar-2007 Debt Instruments Rating Individuals/HUF 0.1666 1.6663 Dividend Plan (Rs) 10.1619 (a) Listed / awaiting listing on Stock Exchanges Others 0.1552 Growth Plan (Rs) 10.8618 Non - Traded / Thinly Traded Scrips 1.5518 b) Dividends declared during the Half - year ended March 31, 2007 : Power Finance Corporation Ltd. AAA 80 747.22 8.38 28-Mar-07 Power Grid Corporation of India Ltd. AAA 50 600.67 6.74 Record date Dividend per unit Dividend %age to Face Value Indian Oil Corporation Ltd. AAA 50 463.47 5.20 Individuals/HUF 0.1316 1.3155 28-Mar-07 Total 180 1,811.36 20.32 Others 0.1225 1.2251 Individuals/HUF 0.6139 6.1390 (b) Privately Placed / Unlisted c) Average Maturity as on March 31, 2007 8.01 Years Others 0.5717 5.7171 RPS Securitisation Trust - Tata Teleservices-PTC c) Average Maturity as on March 31, 2007 0.03 Years (Originator - Goldman Agent Pvt. Ltd. and First HNS Mauritius Ltd.) LAAA (SO) 16,000,000 1,294.66 14.53 FT INDIA MONTHLY INCOME PLAN FRANKLIN TEMPLETON FIXED TENURE - SERIES II - 60 MONTHS PLAN Loan Securitisation Trust - Bajaj Auto PTC (Originator - ICICI Bank) AAA (SO) 15 982.02 11.02 Company Name Industry Quantity Market Value % to Net Company Name Industry Quantity Market Value % to Net Finolex Cables Ltd. AA+ 70 655.03 7.35 Classification (Rs. in Lakhs) Assets Classification (Rs. in Lakhs) Assets Long Bond Receivables Trust 2007 – Series V (Originator - Standard Chartered Investments and Loans)AAA (SO) 5 497.57 5.58 Equity & Equity Related Equity & Equity Related Power Grid Corporation of India Ltd. AAA 400 428.95 4.81 Listed/Awaiting Listing On Stock Exchanges Listed/Awaiting Listing On Stock Exchanges Loan Securitisation Trust - PTC Series - IX B Kotak Mahindra Bank Ltd. Banks 181,000 868.17 1.50 Housing Development Finance Corporation Ltd. Finance 21,927 333.37 2.19 (Originator - ICICI Bank) LAAA (SO) 10 334.25 3.75 Housing Development Finance Corporation Ltd. Finance 49,939 759.25 1.31 Grasim Industries Ltd. Cement 12,704 265.67 1.75 Total 16,000,500 4,192.48 47.04 ABB Ltd. Industrial Capital Goods 21,000 745.71 1.29 Infosys Technologies Ltd. Software 13,068 263.01 1.73 Totals 8,502.55 95.39 Bharti Airtel Ltd. Telecom - Services 95,000 725.04 1.25 Kotak Mahindra Bank Ltd. Banks 54,530 261.55 1.72 Motor Industries Co. Ltd. Auto Ancillaries 22,000 717.15 1.24 ABB Ltd. Industrial Capital Goods 6,522 231.60 1.52 Call,Cash & Other Assets 410.61 4.61 ICICI Bank Ltd. Banks 26,195 223.47 1.47 Net Assets 8,913.16 100.00 Grasim Industries Ltd. Cement 33,196 694.21 1.20 Motor Industries Co. Ltd. Auto Ancillaries 6,836 222.84 1.47 Note: ICICI Bank Ltd. Banks 67,963 579.79 1.00 Tata Consultancy Services Ltd. Software 16,911 208.21 1.38 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007: Infosys Technologies Ltd. Software 28,500 573.59 0.99 Tata Consultancy Services Ltd. Software 46,044 566.89 0.98 Larsen & Toubro Ltd. Diversified 11,938 193.29 1.27 NAV as on 30-Sept-2006 Maruti Udyog Ltd. Auto 17,634 144.55 0.95 Larsen & Toubro Ltd. Diversified 31,549 510.83 0.88 Dividend Plan (Rs) 11.5976 Maruti Udyog Ltd. Auto 49,465 405.46 0.70 Reliance Industries Ltd. Petroleum Products 10,283 140.71 0.93 Growth Plan (Rs) 12.6579 Siemens Ltd. Industrial Capital Goods 12,408 135.33 0.89 Siemens Ltd. Industrial Capital Goods 32,038 349.42 0.60 Bharti Airtel Ltd. Telecom - Services 17,522 133.73 0.88 NAV as on 31-Mar-2007 Reliance Industries Ltd. Petroleum Products 25,000 342.09 0.59 Pantaloon Retail (India) Ltd. Retailing 32,974 130.89 0.86 Dividend Plan (Rs) 11.8238 Marico Ltd. Consumer Non Durables 512,420 314.11 0.54 Bajaj Auto Ltd. Auto 4,945 119.94 0.79 Growth Plan (Rs) 12.9048 Madras Cements Ltd. Cement 11,454 311.69 0.54 Marico Ltd. Consumer Non Durables 192,241 117.84 0.78 b) Dividends declared during the Half - year ended March 31, 2007: Nil Centurion Bank of Punjab Ltd. Banks 750,239 281.71 0.49 Centurion Bank of Punjab Ltd. Banks 292,200 109.72 0.72 Bajaj Auto Ltd. Auto 11,288 273.78 0.47 Madras Cements Ltd. Cement 3,933 107.02 0.70 c) Average Maturity as on March 31, 2007 3.02 Years Cummins India Ltd. Industrial Products 101,398 268.60 0.46 Exide Industries Ltd. Auto Ancillaries 223,138 95.17 0.63 Cummins India Ltd. Industrial Products 34,133 90.42 0.59 TEMPLETON INDIA LIQUID PLUS Satyam Computer Services Ltd. Software 52,852 248.46 0.43 Satyam Computer Services Ltd. Software 19,196 90.24 0.59 Jaiprakash Associates Ltd. Construction 43,574 234.73 0.41 Jaiprakash Associates Ltd. Construction 16,107 86.77 0.57 Company Name Rating Quantity Market Value % to Net Tata Motors Ltd. Auto 29,771 216.66 0.38 Aditya Birla Nuvo Ltd. Textile Products 7,597 80.66 0.53 (Rs. in Lakhs) Assets Exide Industries Ltd. Auto Ancillaries 469,868 200.40 0.35 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 10,605 77.15 0.51 Money Market Instruments Dr. Reddy's Laboratories Ltd. Pharmaceuticals 27,204 197.91 0.34 Tata Motors Ltd. Auto 10,584 77.03 0.52 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 17,427 183.68 0.32 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 6,832 72.01 0.47 Commercial Paper Aditya Birla Nuvo Ltd. Textile Products 14,011 148.77 0.26 India Infoline Ltd. Finance 15,337 51.16 0.34 Kotak Mahindra Prime Ltd. P1+ 460 2,276.43 3.93 India Infoline Ltd. Finance 40,180 134.02 0.23 HDFC Bank Ltd. Banks 4,795 45.52 0.30 Export Import Bank of India P1+ 200 988.03 1.71 Petronet LNG Ltd. Gas 273,660 114.80 0.20 Petronet LNG Ltd. Gas 106,955 44.87 0.30 Total 660 3,264.46 5.64 HDFC Bank Ltd. Banks 11,883 112.82 0.20 Infrastructure Development Finance Corporation Ltd. Finance 36,637 30.67 0.20 Certificate of Deposit Hindalco Industries Ltd. (Partly Paid Shares)Non - Ferrous Metals 103,163 83.51 0.14 Idea Cellular Ltd. Telecom - Services 6,885 6.51 0.04 ICICI Bank Ltd. A1+ 1,516,100 17,423.28 30.11 Infrastructure Development Finance Corporation Ltd. Finance 93,704 78.43 0.14 Hindalco Industries Ltd. (Partly Paid Shares)Non - Ferrous Metals 165 0.13 0.00* Union Bank of India A1+ 5,400 5,166.45 8.93 Pantaloon Retail (India) Ltd. Retailing 13,839 54.93 0.10 Total 1253,737 4,191.05 27.59 State Bank of Bikaner and Jaipur P1+ 5,000 4,929.29 8.52 Idea Cellular Ltd. Telecom - Services 18,025 17.04 0.03 Debt Instruments Rating ICICI Bank Ltd. P1+ 3,350 3,337.43 5.77 Total 3,278,654 11,313.65 19.56 (a) Listed / awaiting listing on Stock Exchanges UCO Bank P1+ 2,650 2,636.03 4.55 Debt Instruments Rating Non - Traded / Thinly Traded Scrips HDFC Bank Ltd. PR1+ 2,500 2,493.65 4.31 (a) Listed / awaiting listing on Stock Exchanges Power Grid Corporation of India Ltd. AAA 180 1,904.51 12.53 Industrial Development Bank of India Ltd. A1+ 2,050 2,030.74 3.51 Non - Traded / Thinly Traded Scrips Indian Oil Corporation Ltd. AAA 150 1,390.41 9.15 State Bank of Indore PR1+ 2,000 1,987.60 3.43 Industrial Development Bank of India Ltd. AA+ 660 6,582.18 11.39 Total 330 3,294.92 21.68 State Bank of Mysore A1+ 500 494.86 0.85 Housing Development Finance Corporation Ltd. AAA 410 3,978.08 6.89 (b) Privately Placed / Unlisted State Bank of Travancore P1+ 500 488.61 0.84 Power Finance Corporation Ltd. AAA 210 1,984.95 3.44 Long Bond Receivables Trust 2007 – Series V Total 1,540,050 40,987.94 70.81 Export Import Bank of India AAA 100 1,459.68 2.53 (Originator - Standard Chartered Investments and Loans )AAA (SO) 20 1,990.28 13.09 Kotak Mahindra Prime Ltd. LAA 100 982.41 1.70 Loan Securitisation Trust - Bajaj Auto PTC Totals 44,252.40 76.45 Call,Cash & Other Assets 13,604.32 23.55 State Bank of Hyderabad AAA 100 951.95 1.65 (Originator - ICICI Bank) AAA (SO) 20 1,309.36 8.61 Power Grid Corporation of India Ltd. AAA 79 844.43 1.46 Finolex Cables Ltd. AA+ 130 1,216.48 8.00 Net Assets 57,856.72 100.00 JUS Trust PTC - Jet Airways Series 9 Note: GE Capital Services (India) AAA 80 785.03 1.36 Hindalco Industries Ltd. AAA 52 648.53 1.12 (Originator - UTI Bank ) AAA (SO) 1,500,000 1,141.90 7.51 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 RPS Securitisation Trust - Tata Teleservices-PTC Infrastructure Development Finance Corporation Ltd. LAAA 60 576.65 1.00 (Originator - Goldman Agent Pvt. Ltd. and First NAV as on 30-Sept-2006 National Thermal Power Corporation Ltd. AAA 250 502.23 0.87 HNS Mauritius Ltd.) LAAA (SO) 14,000,000 1,132.82 7.45 Dividend Plan (Rs) 10.0000 LIC Housing Finance Ltd. AAA 30 284.31 0.49 Loan Securitisation Trust - PTC Series - IX B Growth Plan (Rs) 13.1934 Mahindra and Mahindra Financial Services Ltd. AA+ 5 48.14 0.08 (Originator - ICICI Bank) LAAA (SO) 19 635.07 4.18 NAV as on 31-Mar-2007 Total 2,136 19,628.57 33.98 Total 15,500,189 7,425.91 48.84 Dividend Plan (Rs) 10.0020 (b) Privately Placed / Unlisted Totals 14,911.88 98.11 Growth Plan (Rs) 13.6208 BHPC Auto Sec Trust PTC AUG-06 I A2 Call,Cash & Other Assets 287.97 1.89 b) Dividends declared in the Templeton India Liquid Plus - (Daily Dividend Plan) during each (Originator - Tata Motors Ltd.) AAA (SO) 65 6,758.67 11.70 Net Assets 15,199.85 100.00 month for the Half - year ended March 31, 2007 : Loan Securitisation Trust - Bajaj Auto PTC (Originator - ICICI Bank) AAA (SO) 40 2,618.72 4.53 Note: *Less than 0.01% a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Record date Dividend per unit Dividend %age to Face Value Rabo India Finance Ltd. AAA 250 2,507.24 4.34 Oct-06 HCC3 LOAN TRUST SR.I PTC NAV as on 30-Sept-2006 Individuals/HUF 0.0437 0.4371 Dividend Plan (Rs) 11.4981 Others 0.0407 0.4071 (Originator - GE CapitalServices India) AA+ (SO) 25 2,500.00 4.33 Loan Securitisation Trust - PTC Series - IX B Growth Plan (Rs) 11.4981 Nov-06 NAV as on 31-Mar-2007 Individuals/HUF 0.0443 0.4428 (Originator - ICICI Bank) LAAA (SO) 46 1,537.53 2.66 Dividend Plan (Rs) 10.7426 Others 0.0412 0.4123 Long Bond Receivables Trust 2007 – Series V (Originator-Standard Chartered Investments and Loans) AAA (SO) 13 1,293.68 2.25 Growth Plan (Rs) 11.7527 Dec-06 Individuals/HUF 0.0437 0.4371 Indian Retail ABS Trust PTC Series 68 A1 b) Dividends declared during the Half - year ended March 31, 2007: Others 0.0407 0.4070 (Originator - ICICI Bank Ltd.) LAAASO 17 1,133.15 1.96 Record date Dividend per unit Dividend %age to Face Value Jan-07 Indian Retail ABS Trust PTC Series 50 A1Y 12-Oct-06 Individuals/HUF 0.0522 0.5224 (Originator - ICICI Bank Ltd.) AAA (SO) 15 398.52 0.69 Individuals/HUF 0.8770 8.7700 Others 0.0487 0.4865 NABARD AAA 20 192.12 0.33 Others 0.8167 8.1673 Feb-07 Hong Kong & Shanghai Banking Corporation (India) Ltd. N.R 1 103.99 0.18 c) Average Maturity as on March 31, 2007 3.19 years Individuals/HUF 0.0434 0.4336 ICICI Bank Ltd. AAA 1,000 48.75 0.09 Others 0.0404 0.4038 Total 1,492 19,092.37 33.06 FRANKLIN TEMPLETON FIXED TENURE FUND- SERIES IV - 60 MONTHS PLAN Mar-07 Money Market Instruments Individuals/HUF 0.0507 0.5065 Commercial Paper Company Name Industry Quantity Market Value % to Net Others 0.0472 0.4717 ICICI Home Finance Company Ltd. A1+ 165 793.28 1.38 Classification (Rs. in Lakhs) Assets c) Average Maturity as on March 31, 2007 0.12 years Total 165 793.28 1.38 Equity & Equity Related Certificate of Deposit Listed/Awaiting Listing On Stock Exchanges Union Bank of India A1+ 3,500 3,348.63 5.80 Housing Development Finance Corporation Ltd. Finance 12,210 185.63 2.23 TEMPLETON MONTHLY INCOME PLAN - MONTHLY AND QUARTERLY DIVIDEND PLAN State Bank of Patiala P1+ 2,500 2,357.75 4.08 Grasim Industries Ltd. Cement 7,063 147.70 1.78 Company Name Rating Quantity Market Value % to Net Export Import Bank of India AAA 800 641.83 1.11 Infosys Technologies Ltd. Software 7,277 146.46 1.77 (Rs. in Lakhs) Assets Total 6,800 6,348.21 10.99 Kotak Mahindra Bank Ltd. Banks 30,365 145.65 1.76 Debt Instruments Totals 57,176.08 98.97 ABB Ltd. Industrial Capital Goods 3,630 128.90 1.56 (a) Listed / awaiting listing on Stock Exchanges Call,Cash & Other Assets 596.55 1.03 ICICI Bank Ltd. Banks 14,589 124.46 1.50 Net Assets 57,772.63 100.00 Motor Industries Co. Ltd. Auto Ancillaries 3,806 124.07 1.50 Non - Traded / Thinly Traded Scrips Tata Consultancy Services Ltd. Software 9,414 115.91 1.40 Note : Larsen & Toubro Ltd. Diversified 6,636 107.45 1.30 Kotak Mahindra Prime Ltd. LAA 20 195.87 12.96 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Maruti Udyog Ltd. Auto 9,862 80.84 0.97 Total 20 195.87 12.96 NAV as on 30-Sept-2006 Reliance Industries Ltd. Petroleum Products 5,726 78.35 0.95 (b) Privately Placed / Unlisted Growth Plan (Rs) 20.0214 Siemens India Ltd. Industrial Capital Goods 6,910 75.36 0.91 BHPC Auto Sec Trust PTC AUG-06 I A2 Quarterly Dividend Plan (Rs) 12.1576 Bharti Airtel Ltd. Telecom - Services 9,757 74.47 0.90 (Originator - Tata Motors Ltd.) AAA (SO) 4 415.92 27.52 Monthly Dividend Plan (Rs) 12.0996 Pantaloon Retail (India) Ltd. Retailing 18,360 72.88 0.88 Loan Securitisation Trust - Reliance Industries PTC Monthly Bonus Plan (Rs) 14.7855 Bajaj Auto Ltd. Auto 2,753 66.77 0.81 (Originator - ICICI Bank) AAA (SO) 8 389.12 25.75 NAV as on 31-Mar-2007 Marico Ltd. Consumer Non Durables 108,515 66.52 0.80 Loan Securitisation Trust - PTC Series - IX B Growth Plan (Rs) 20.4475 Centurion Bank of Punjab Ltd. Banks 162,686 61.09 0.74 (Originator - ICICI Bank) LAAA (SO) 10 334.25 22.12 Quarterly Dividend Plan (Rs) 11.5599 Madras Cements Ltd. Cement 2,188 59.54 0.72 Indian Retail ABS Trust PTC Series 68 A1 Monthly Dividend Plan (Rs) 11.5472 Exide Industries Ltd. Auto Ancillaries 124,230 52.98 0.64 (Originator - ICICI Bank Ltd.) LAAA (SO) 2 133.31 8.82 Monthly Bonus Plan (Rs) 14.2246 Cummins India Ltd. Industrial Products 18,994 50.32 0.61 Satyam Computer Services Ltd. Software 10,684 50.23 0.61 Total 24 1,272.60 84.21 Totals 1,468.47 97.17 b) Dividends / Bonus declared in the FT India Monthly Income Plan (Dividend / Bonus Option) during Jaiprakash Associates Ltd. Construction 8,963 48.28 0.58 the Half-Year ended March 31, 2007 : Aditya Birla Nuvo Ltd. Textile Products 4,226 44.87 0.54 Call,Cash & Other Assets 42.80 2.83 Tata Motors Ltd. Auto 5,906 42.98 0.52 Net Assets 1,511.27 100.00 Record date Dividend per unit / Bonus Dividend % age Dr. Reddy's Laboratories Ltd. Pharmaceuticals 5,894 42.88 0.52 Note: Ratio per 1000 units to Face Value Sun Pharmaceutical Industries Ltd. Pharmaceuticals 3,794 39.99 0.48 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 India Infoline Ltd. Finance 8,539 28.48 0.34 Monthly Dividend Plan HDFC Bank Ltd. Banks 2,656 25.22 0.30 NAV as on 30-Sept-2006 27-Oct-06 Petronet LNG Ltd. Gas 59,449 24.94 0.30 Monthly Dividend Plan (Rs) 10.2718 Quarterly Dividend Plan (Rs) 10.3512 Individuals/HUF 0.1403 1.4032 Infrastructure Development Finance Corporation Ltd. Finance 20,364 17.04 0.21 Others 0.1307 1.3068 Idea Cellular Ltd. Telecom - Services 2,549 2.41 0.03 NAV as on 31-Mar-2007 24-Nov-06 Total 697995 2,332.67 28.16 Monthly Dividend Plan (Rs) 10.2059 Individuals/HUF 0.1052 1.0524 Debt Instruments Rating Quarterly Dividend Plan (Rs) 10.1763 Others 0.0980 0.9801 (a) Listed / awaiting listing on Stock Exchanges b) Dividends declared during the Half - year ended March 31, 2007 : 29-Dec-06 Non - Traded / Thinly Traded Scrips Record date Dividend per unit Dividend %age to Face Value Power Finance Corporation Ltd. AAA 120 1,160.13 14.00 Individuals/HUF 0.1052 1.0524 Infrastructure Development Finance Corporation Ltd. LAAA 120 1,152.65 13.91 Monthly Dividend Plan Others 0.0980 0.9801 Export Import Bank of India AAA 120 1,152.09 13.90 27-Oct-06 25-Jan-07 Housing Development Finance Corporation Ltd. AAA 114 1,092.65 13.19 Individuals/HUF 0.0439 0.4385 Individuals/HUF 0.1052 1.0524 Total 474 4,557.52 55.00 Others 0.0408 0.4084 Others 0.0980 0.9801 (b) Privately Placed / Unlisted 24-Nov-06 23-Feb-07 Loan Securitisation Trust - Bajaj Auto PTC Individuals/HUF 0.0351 0.3508 Individuals/HUF 0.0702 0.7016 (Originator - ICICI Bank) AAA (SO) 15 982.02 11.85 Others 0.0327 0.3267 Others 0.0653 0.6534 Long Bond Receivables Trust 2007 – Series V 29-Dec-06 28-Mar-07 (Originator - Standard Chartered Investments and Loans )AAA (SO) 2 199.03 2.40 Individuals/HUF 0.0351 0.3508 Individuals/HUF 0.0439 0.4385 Total 1,181.05 14.25 Others 0.0327 0.3267 Others 0.0408 0.4084 Totals 17 8,071.24 97.41 25-Jan-07 Quarterly Dividend Plan Individuals/HUF 0.0175 0.1754 Call,Cash & Other Assets 214.45 2.59 29-Dec-07 Net Assets 8,285.69 100.00 Others 0.0163 0.1633 23-Feb-07 Individuals/HUF 0.2631 2.6310 Note: Others 0.2450 2.4502 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Individuals/HUF 0.0088 0.0877 Others 0.0082 0.0817 28-Mar-07 NAV as on 30-Sept-2006 Individuals/HUF 0.0877 0.8770 Dividend Plan (Rs) 10.5752 28-Mar-07 Growth Plan (Rs) 10.5752 Individuals/HUF 0.0088 0.0877 Others 0.0817 0.8167 NAV as on 31-Mar-2007 Others 0.0082 0.0817 Monthly Bonus Plan Dividend Plan (Rs) 10.0810 Quarterly Dividend Plan 27-Oct-06 10 : 1000 Growth Plan (Rs) 10.7826 29-Dec-06 24-Nov-06 8 : 1000 b) Dividends declared during the Half - year ended March 31, 2007: Individuals/HUF 0.1316 1.3155 29-Dec-06 8 : 1000 Record date Dividend per unit Dividend %age to Face Value Others 0.1225 1.2251 25-Jan-07 10 : 1000 28-Mar-07 28-Mar-07 23-Feb-07 6 : 1000 Individuals/HUF 0.6139 6.1390 Individuals/HUF 0.0263 0.2631 28-Mar-07 7 : 1000 Others 0.5717 5.7171 Others 0.0245 0.2450 c) Average Maturity as on March 31, 2007 3.95 years c) Average Maturity as on March 31, 2007 1.74 years c) Average Maturity as on March 31, 2007 2.08 Years UNAUDITED HALF - YEARLY PORTFOLIO STATEMENT OF THE SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND AS ON MARCH 31, 2007

TEMPLETON INDIA MONEY MARKET ACCOUNT Record date Dividend per unit Dividend %age to Face Value TEMPLETON INDIA GOVERNMENT SECURITIES FUND - LONG TERM PLAN 23-Feb-07 Company Name Rating Quantity Market Value % to Net Individuals/HUF 2.6310 0.2631 Company Name Rating Quantity Market Value % to Net (Rs. in Lakhs) Assets Others 2.4502 0.2450 (Rs. in Lakhs) Assets Money Market Instruments 28-Mar-07 Goverment Securities ICICI Bank Ltd. A1+ 3,500 3,257.80 38.98 Individuals/HUF 2.6310 0.2631 08.07% GOI 2017 SOV 1,750,000 1,757.35 31.26 Others 2.4502 0.2450 Union Bank of India A1+ 2,650 2,548.87 30.49 08.33% GOI 2036 SOV 1,000,000 998.00 17.75 UCO Bank P1+ 2,350 2,321.32 27.77 State Bank of Saurashtra P1+ 200 197.99 2.37 Quarterly Dividend Plan 07.37% GOI 2014 SOV 1,000,000 965.00 17.17 Total 8,700 8,325.98 99.61 29-Dec-06 06.65% GOI 2009 SOV 500,000 487.50 8.68 Individuals/HUF 14.0320 1.4032 Call,Cash & Other Assets 32.36 0.39 07.59% GOI 2016 SOV 500,000 486.50 8.50 Net Assets 8,358.34 100.00 Others 13.0676 1.3068 28-Mar-07 Totals 4,750,000 4,694.35 83.51 Note: Individuals/HUF 8.7700 0.8770 Call,Cash & Other Assets 927.28 16.49 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Others 8.1673 0.8167 Net Assets 5,621.63 100.00 Weekly Bonus Plan NAV as on 30-Sept-2006 Oct-06 4 : 1000 Note : Dividend Plan (Rs.) 1.0000 Nov-06 4 : 1000 Dec-06 4 : 1000 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 NAV as on 31-Mar-2007 Jan-07 5 : 1000 NAV as on 30-Sept-2006 Feb-07 1 : 1000 Growth Plan (Rs) 16.1370 Dividend Plan (Rs) 1.0003 Mar-07 5 : 1000 Quarterly Dividend (Rs) 11.1402 Bonus (Rs) 1.0003 c) Average Maturity as on March 31, 2007 1.07 years Monthly Bonus (Rs) 12.4454 b) Dividends / Bonus declared in the Templeton India Money Market Account (Dividend / Bonus Option) during the Half-Year ended March 31, 2007 : TEMPLETON FLOATING RATE INCOME FUND - LONG TERM PLAN NAV as on 31-Mar-2007 Record date Dividend per unit/ Bonus %age Company Name Rating Quantity Market Value % to Net Growth Plan (Rs) 16.5801 Bonus Ratio to Face Value (Rs. in Lakhs) Assets Quarterly Dividend (Rs) 10.5769 (per 1000 units) Debt Instruments Monthly Bonus (Rs) 11.8917 Dividend Plan a) Listed / awaiting listing on Stock Exchanges b) Dividends declared in the Templeton India Government Securities Fund - Long Term Plan Dec-06 Individuals/HUF 0.0054 0.5377 Non - Traded / Thinly Traded Scrips (Dividend / Bonus Option) during the Half - year ended March 31, 2007 Others 0.0050 0.5008 LIC Housing Finance Ltd. AAA 950 9,657.27 18.44 Record date Dividend per unit / Bonus Dividend %age Jan-07 Kotak Mahindra Prime Ltd. P1+ 500 4,992.04 9.53 Ratio per 1000 units to Face Value Individuals/HUF 0.0063 0.6327 National Housing Bank Ltd. AAA 260 2,601.03 4.96 29-Dec-06 Others 0.0059 0.5892 Individuals/HUF 0.2193 2.1925 Feb-07 Kotak Mahindra Prime Ltd. LAA 200 1,977.29 3.78 Others 0.2042 2.0418 Individuals/HUF 0.0058 0.5838 Mahindra and Mahindra Financial Services Ltd. AA+ 100 1,000.00 1.91 28-Mar-07 Others 0.0054 0.5437 Industrial Development Bank of India Ltd. AA+ 50 476.75 0.90 Individuals/HUF 0.2193 2.1925 Mar-07 Others 0.2042 2.0418 Individuals/HUF 0.0067 0.6700 Total 2,060 20,704.38 39.52 Monthly Bonus Plan Others 0.0062 0.6240 (b) Privately Placed / Unlisted 27-Oct-06 9 : 1000 Bonus Plan Corporate Loan Securisation Trust Series 36 I 24-Nov-06 17 : 1000 Oct-06 0.0067 0.6699 (Originator - Kotak Mahindra Bank Ltd.) AA (ind) (SO) 330 3,303.34 6.30 29-Dec-06 9 : 1000 Nov-06 0.0055 0.5501 25-Jan-07 9 : 1000 Dec-06 0.0065 0.6504 BHPC Auto Sec Trust PTC AUG-06 I A1 23-Feb-07 10 : 1000 Jan-07 0.0072 0.7214 (Originator - Tata Motors Ltd.) AAA (SO) 38 2,828.39 5.40 28-Mar-07 10 : 1000 Feb-07 0.0067 0.6657 Indian Retail ABS Trust PTC Series 68 A1 c) Average Maturity as on March 31, 2007 10.42 Years Mar-07 0.0076 0.7640 (Originator - ICICI Bank Ltd.) LAAA (SO) 38 2,532.92 4.84 c) Average Maturity as on March 31, 2007 0.42 Years Rabo India Finance Ltd. AAA 200 2,005.79 3.83 TEMPLETON INDIA INCOME BUILDER ACCOUNT Indian Retail ABS Trust PTC Series 67 A2 Company Name Rating Quantity Market Value % to Net TEMPLETONTEMPLETON INDIA INDIA SHORT SHORT TERM TERM INCOME INCOME PLAN PLAN (Originator - ICICI Bank Ltd.) LAAA 15 1,485.48 2.83 (Rs. in Lakhs) Assets Company Name Rating Quantity Market Value % to Net Retail Trust PTC Sept - 06 Series A3 Debt Instruments (Rs. in Lakhs) Assets (Originator - HDFC Bank Ltd.) LAAA (SO) 12 1,134.95 2.17 (a) Listed / awaiting listing on Stock Exchanges Debt Instruments Loan Recievable Trust PTC -March 2007 Series A1 Non - Traded / Thinly Traded Scrips a) Listed / awaiting listing on Stock Exchanges (Originator - Citi Bank) AA (ind) (SO) 10 1,020.23 1.95 Housing Development Finance Corporation Ltd. AAA 125 1,202.26 12.29 Non - Traded / Thinly Traded Scrips Ultratech Cement Ltd. AA+ 275 2,558.62 13.75 Indian Retail ABS Trust PTC Series 47 A1 NABARD AAA 100 1,000.05 10.22 Kotak Mahindra Prime Ltd. LAA 150 1,473.65 7.92 (Originator - ICICI Bank) LAAA (SO) 35 764.91 1.46 Export Import Bank of India AAA 50 477.33 4.88 Citicorp Finance (India) Ltd. AAA 150 1,428.74 7.68 Indian Retail ABS Trust PTC Series 56 A1 X Power Finance Corporation Ltd. AAA 40 373.61 3.82 Citicorp Maruti Finance Ltd. AAA 100 969.62 5.22 (Originator - ICICI Bank) AAA (SO) 15 684.20 1.31 Total 315 3,053.25 31.21 Sundaram Finance Ltd. LAA+ 75 731.08 3.93 LIC Housing Finance Ltd. AAA 50 490.01 2.63 Retail Trust PTC Sept - 06 Series A1 (b) Privately Placed / Unlisted Mahindra and Mahindra Financial Services Ltd. AA+ 40 385.09 2.07 (Originator - HDFC Bank Ltd.) A1+ (SO) 12 624.57 1.19 Hong Kong & Shanghai Banking Corporation (India) Ltd. N.R 9 935.89 9.56 Power Grid Corporation of India Ltd. AAA 10 123.91 0.67 Corporate Loan Securisation Series XXV Indian Retail ABS Trust PTC Series 68 A1 Total 850 8,160.72 43.87 (Originator - ICICI Bank Ltd.) LAAASO 12 799.87 8.17 (b) Privately Placed / Unlisted Trust 2006 SR 25A1 Indian Retail ABS Trust PTC Series 64 A5Y (Originator - Kotak Mahindra Bank Ltd.) AA- (ind) (SO) 5 471.06 0.90 Loan Securitisation Trust - Reliance Industries PTC (Originator - ICICI Bank Ltd.) LAAA (SO) 20 2,062.40 11.09 UBL Trust PTC Series 11 (Originator - ICICI Bank) AAA (SO) 7 340.48 3.48 Indian Retail ABS Trust PTC Series 67 A3 (Originator - Indus Ind Bank) AAA (SO) 20 468.16 0.89 Loan Securitisation Trust - Bajaj Auto PTC (Originator - ICICI Bank Ltd.) LAAA (SO) 20 1,962.62 10.55 (Originator - ICICI Bank) AAA (SO) 3 196.40 2.01 Corporate Loan Securisation Trust Series 36 I Indian Retail ABS Trust PTC Series 39 A3 Power Grid Corporation of India Ltd. AAA 6 6.05 0.06 (Originator - Kotak Mahindra Bank Ltd.) AA (ind) (SO) 170 1,701.72 9.15 (Originator - ICICI Bank) AAA (SO) 4 319.92 0.61 Total 37 2,278.69 23.28 Corporate Loan Securisation Trust Series XXVI A1 Indian Retail ABS Trust PTC Series 54 A2 (Originator - Kotak Mahindra Bank Ltd.) AA- (ind) (SO) 6 534.38 2.87 Goverment Securities (Originator - ICICI Bank Ltd.) LAAA (SO) 2 183.54 0.35 Indian Retail ABS Trust PTC Series 56 A1 X 08.33% GOI 2036 SOV 1,500,000 1,497.00 15.30 UBL Trust Series 14 (Originator - ICICI Bank) AAA (SO) 10 456.13 2.45 08.07% GOI 2017 SOV 500,000 502.10 5.13 Indian Retail ABS Trust PTC Series 52 A2 (Originator Indus Ind Bank Ltd.) AAA (SO) 15 138.95 0.27 Total 2,000,000 1,999.10 20.43 (Originator - ICICI Bank Ltd.) LAAA (SO) 4 337.17 1.81 Mahindra & Mahindra Financial Services Indian Retail ABS Trust PTC Series 68 A1 Money Market Instruments (Originator - ICICI Bank Ltd.) LAAA (SO) 5 333.28 1.79 VE Trust PTC 7 Series A1 Certificate of Deposit Total 235 7,387.70 39.71 (Originator- Mahindra & Mahindra ICICI Bank Ltd. A1+ 1,900 1,896.57 19.38 Money Market Instruments Financial Services Ltd.) AAA (SO) 48 28.35 0.05 Certificate of Deposit Union Bank of India A1+ 300 286.89 2.93 Union Bank of India A1+ 700 669.73 3.60 Fleet Trust PTC Series A6 Total 2,200 2,183.46 22.31 Total 700 669.73 3.60 (Originator - CiticorpFinance (India) Ltd. Totals 9,514.50 97.23 Fixed Deposits & Citibank N.A) AAA (SO) 5 18.37 0.04 Call,Cash & Other Assets 270.63 2.77 UTI Bank Ltd. 1,000.00 5.38 Total 804 18,013.13 34.39 Total 1,000.00 5.38 Net Assets 9,785.13 100.00 Totals 17,218.15 92.56 Money Market Instruments Call,Cash & Other Assets 1,383.43 7.44 Certificate of Deposit Net Assets 18,601.58 100.00 Union Bank of India A1+ 2,500 2,391.88 4.57 Note: Note: ICICI Bank Ltd. A1+ 1,700 1,679.56 3.21 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 NAV as on 30-Sep-2006 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 State Bank of Mysore A1+ 500 494.86 0.94 Dividend Plan (Rs) 10.4399 NAV as on 30-Sep-2006 Total 4,700 4,566.30 8.72 Quarterly Plan (Rs) 14.1596 Growth Plan (Rs) 1,327.6047 Fixed Deposit Monthly Plan (Rs) 14.0364 Monthly Dividend Plan (Rs.) 1,017.6079 State Bank of Bikaner and Jaipur 5,000.00 9.55 Half-Yearly Plan (Rs) 14.3497 Quarterly Dividend Plan (Rs) 1,032.5780 UTI Bank Ltd. 4,500.00 8.59 Monthly Bonus Plan (Rs) 19.5117 Weekly Dividend Plan (Rs) 1,095.9797 Growth Plan (Rs) 24.4908 Total 9,500.00 18.14 Weekly Bonus Plan (Rs) 1,051.4261 NAV as on 31-March-2007 Institutional Growth Plan (Rs.) 1,060.7355 Totals 52,783.81 100.77 Dividend Plan (Rs) 10.2983 Institutional Weekly Plan (Rs.) 1,006.4984 Call,Cash & Other Assets (405.85) (0.77) Quarterly Plan (Rs) 13.4112 Institutional Monthly Plan (Rs.) 1,050.4396 Net Assets 52,377.96 100.00 Monthly Plan (Rs) 13.2905 NAV as on 31-March-2007 Half-Yearly Plan (Rs) 13.2589 Growth Plan (Rs) 1,362.5657 Note : Monthly Bonus Plan (Rs) 18.7893 Growth Plan (Rs) 24.8620 Monthly Dividend Plan (Rs.) 1,014.1357 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Quarterly Dividend Plan (Rs) 1,017.2264 NAV as on 30-Sep-2006 b) Dividends / Bonus declared in the Templeton India Income Builder Account (Dividend / Bonus Weekly Dividend Plan (Rs) 1,091.4279 Option) during the Half-Year ended March 31, 2007 : Growth Plan (Rs) 12.9942 Weekly Bonus Plan (Rs) 1,053.9070 Dividend Plan (Rs) 10.5055 Institutional Growth Plan (Rs.) 1,089.2202 Record date Dividend per unit/ Dividend %age to Face Value Institutional Weekly Plan (Rs.) 1,002.6933 Institutional Growth (Rs.) 10.6168 Bonus Ratio (per 1000 units) Institutional Monthly Plan (Rs.) 1,045.2151 Institutional Weekly Dividend (Rs.) 10.3505 Annual Dividend b) Dividends / Bonus declared in the Templeton India Short Term Income Plan (Dividend / Bonus NAV as on 31-Mar-2007 28-Mar-07 Option) during the Half-Year ended March 31, 2007 : Growth Plan (Rs) 13.4880 Individuals/HUF 0.2631 2.6310 Dividend Plan (Rs) 10.4359 Others 0.2450 2.4502 Record date Dividend per unit Dividend %age to Face Value Institutional Growth (Rs.) 11.0449 Monthly Dividend Plan Weekly Dividend Plan Institutional Weekly Dividend (Rs.) 10.3612 b) Dividends declared in the Templeton Floating Rate Income Fund - Long Term (Dividend Plan) 27-Oct-06 Oct-06 Individuals/HUF 0.1052 1.0524 Individuals/HUF 5.3587 0.5359 during the Half-Year ended March 31, 2007 : Others 4.9904 0.4990 Others 0.0980 0.9801 Nov-06 Record Date Dividend per unit Dividend % age to Face Value 24-Nov-06 Individuals/HUF 5.4011 0.5401 Dividend Plan Individuals/HUF 0.2193 2.1925 Others 5.0299 0.5030 Others 0.2042 2.0418 Dec-06 29-Dec-06 Individuals/HUF 5.5925 0.5593 Individuals/HUF 0.1403 1.4032 29-Dec-06 Others 5.2082 0.5208 Others 0.1307 1.3068 Individuals/HUF 0.1052 1.0524 Jan-07 28-Mar-07 Others 0.0980 0.9801 Individuals/HUF 3.8586 0.3859 Individuals/HUF 0.1316 1.3155 25-Jan-07 Others 3.5934 0.3593 Others 0.1225 1.2251 Feb-07 Individuals/HUF 0.1052 1.0524 Individuals/HUF 2.1747 0.2175 Institutional Option Dividend Others 0.0980 0.9801 Others 2.0252 0.2025 Oct-06 23-Feb-07 Mar-07 Individuals/HUF 0.0525 0.5253 Individuals/HUF 0.1052 1.0524 Individuals/HUF 5.1903 0.5190 Others 0.0489 0.4892 Others 4.8336 0.4834 Others 0.0980 0.9801 Nov-06 28-Mar-07 Institutional Monthly Dividend Plan Individuals/HUF 0.0517 0.5166 27-Oct-06 Individuals/HUF 0.1052 1.0524 Individuals/HUF 4.1658 0.4166 Others 0.0481 0.4811 Others 0.0980 0.9801 Others 3.8795 0.3879 Dec-06 Quarterly Dividend Plan 24-Nov-06 Individuals/HUF 0.0672 0.6718 29-Dec-06 Individuals/HUF 4.2973 0.4297 Others 0.0626 0.6256 Others 4.0020 0.4002 Individuals/HUF 0.2631 2.6310 29-Dec-06 Jan-07 Others 0.2450 2.4502 Individuals/HUF 4.1658 0.4166 Individuals/HUF 0.0514 0.5139 28-Mar-07 Others 0.0479 0.4786 Others 3.8795 0.3879 Individuals/HUF 0.3157 3.1572 25-Jan-07 Feb-07 Others 0.2940 2.9402 Individuals/HUF 4.2973 0.4297 Others 4.0020 0.4002 Individuals/HUF 0.0556 0.5560 Half Yearly Dividend Plan 23-Feb-07 Others 0.0518 0.5178 28-Mar-07 Individuals/HUF 3.5080 0.3508 Mar-07 Individuals/HUF 0.6139 6.1390 Others 3.2669 0.3267 Individuals/HUF 0.0585 0.5850 Others 0.5717 5.7171 28-Mar-07 Others 0.0545 0.5448 Individuals/HUF 4.3850 0.4385 Monthly Bonus Plan Others 4.0836 0.4084 c) Average Maturity as on March 31, 2007 0.90 Years 27-Oct-06 6 : 1000 Institutional Weekly Dividend Plan 24-Nov-06 12 : 1000 Oct-06 FRANKLIN TEMPLETON FIXED TENURE FUND - SERIES VII - 370 DAYS PLAN 29-Dec-06 6 : 1000 Individuals/HUF 5.1482 0.5148 Company Name Rating Quantity Market Value % to Net 25-Jan-07 6 : 1000 Others 4.7944 0.4794 23-Feb-07 9 : 1000 Nov-06 (Rs. in Lakhs) Assets Individuals/HUF 5.0294 0.5029 Debt Instruments 28-Mar-07 9 : 1000 Others 4.6838 0.4684 Privately Placed / Unlisted c) Average Maturity as on March 31, 2007: 7.83 Years Dec-06 Loan Recievable Trust PTC -March 2007 Individuals/HUF 5.2212 0.5221 Series A2 (Originator - Citi Bank) AA (ind) (SO) 45 4,432.32 8.94 Others 4.8624 0.4862 Loan Recievable Trust PTC -March 2007 FRANKLIN INDIA BALANCED FUND Jan-07 Series A1 (Originator - Citi Bank) AA (ind) (SO) 5 510.11 1.03 Individuals/HUF 3.2364 0.3236 Total 50 4,942.44 9.97 Company Name Rating Quantity Market Value % to Net Others 3.0140 0.3014 Money Market Instruments (Rs. in Lakhs) Assets Feb-07 Commercial Paper Individuals/HUF 2.0171 0.2017 Standard Chartered Investments and Loans P1+ 800 3,609.48 7.28 Mutual Fund Units Others 1.8785 0.1878 Certificate of Deposit FT India Balanced Fund 39,093 12.55 100.00 Mar-07 ICICI Bank Ltd. A1+ 41,220 37,818.18 76.27 Total 39,093 12.55 100.00 Individuals/HUF 4.7722 0.4772 Total 42,020 41,427.67 83.55 Call,Cash & Other Assets - - Others 4.4442 0.4444 Totals 46,370.10 93.52 Net Assets 12.55 100.00 Monthly Dividend Plan Call,Cash & Other Assets 3,215.40 6.48 27-Oct-06 Net Assets 49,585.50 100.00 Note : Individuals/HUF 4.1658 0.4166 Others 3.8795 0.3879 Note : a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 24-Nov-06 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 NAV as on 30-Sept-2006 Individuals/HUF 4.2973 0.4297 NAV as on 30-Sept-2006 Dividend Plan (Rs) 27.9159 Others 4.0020 0.4002 Dividend Plan (Rs.) - Growth Plan (Rs) 32.2987 Growth Plan (Rs.) - 29-Dec-06 NAV as on 31-Mar-2007 Individuals/HUF 4.1658 0.5262 NAV as on 31-Mar-2007 Others 3.8795 0.4900 Dividend Plan (Rs.) 10.0140 Dividend Plan (Rs) 29.9900 25-Jan-07 Growth Plan (Rs.) 10.0140 Growth Plan (Rs) 34.6900 Individuals/HUF 4.1658 0.4166 b) Dividends declared during the Half - year ended March 31, 2007: Nil Others 3.8795 0.3879 c) Average Maturity as on March 31, 2007 0.81 Years b) Dividends declared during the Half - year ended March 31, 2007: Nil UNAUDITED HALF - YEARLY PORTFOLIO STATEMENT OF THE SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND AS ON MARCH 31, 2007

TEMPLETON INDIA INCOME FUND FRANKLIN TEMPLETON CAPITAL SAFETY FUND - 5 YEARS PLAN TEMPLETON FIXED HORIZON FUND - 3 MONTHS PLAN SERIES II Company Name Rating Quantity Market Value % to Net Company Name Rating Quantity Market Value % to Net Company Name Rating Quantity Market Value % to Net (Rs. in Lakhs) Assets (Rs. in Lakhs) Assets (Rs. in Lakhs) Assets Debt Instruments Equity & Equity Related Money Market Instruments (a) Listed / awaiting listing on Stock Exchanges Listed/Awaiting listing on Stock Exchanges Non - Traded / Thinly Traded Scrips Grasim Industries Ltd. Cement 19,778 413.61 1.52 Certificate of Deposit NABARD AAA 200 1,960.28 10.28 Housing Development Finance Corporation Ltd. Finance 22,952 348.95 1.29 State Bank of Saurashtra P1+ 1,900 1,883.14 31.14 Ultratech Cement Ltd. AA+ 200 1,906.88 10.00 Bharti Airtel Ltd. Telecom - Services 44,643 340.72 1.25 Total 1,900 1,883.14 31.14 Kotak Mahindra Prime Ltd. LAA 180 1,759.64 9.24 Kotak Mahindra Bank Ltd. Banks 67,386 323.22 1.19 Infosys Technologies Ltd. Software 15,325 308.43 1.13 Housing Development Finance Corporation Ltd. AAA 175 1,683.17 8.83 Bills Rediscounting Tata Consultancy Services Ltd. Software 20,731 255.24 0.94 State Bank of India AAA 10 1,000.36 5.25 ICICI Bank Ltd. Banks 29,218 249.26 0.92 Deutsche Bank AG 4 3,897.63 64.45 Citicorp Finance (India) Ltd. AAA 50 476.25 2.50 ABB Ltd. Industrial Capital Goods 6,413 227.73 0.84 Total 4 3,897.63 64.45 Power Grid Corporation of India Ltd. AAA 40 448.39 2.35 Larsen & Toubro Ltd. Diversified 13,718 222.11 0.82 Hindalco Industries Ltd. AAA 3 277.25 1.45 Bajaj Auto Ltd. Auto 8,567 207.79 0.77 Totals 5,780.77 95.59 India Infrastructure Developers Ltd. AA 30 192.59 1.02 Maruti Udyog Ltd. Auto 20,709 169.75 0.62 Call,Cash & Other Assets 266.82 4.41 Total 888 9,704.81 50.92 Dr. Reddy's Laboratories Ltd. Pharmaceuticals 20,408 148.47 0.55 Net Assets 6,047.59 100.00 (b) Privately Placed / Unlisted Siemens Ltd. Industrial Capital Goods 13,078 142.64 0.52 Retail Trust PTC Sept - 06 Series A1 Marico Ltd. Consumer Non Durables 226,502 138.85 0.51 Note : (Originator - HDFC Bank Ltd.) A1+ (SO) 31 1,613.48 8.47 Centurion Bank of Punjab Ltd. Banks 355,487 133.49 0.49 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Indian Retail ABS Trust PTC Series 68 A1 Madras Cements Ltd. Cement 4,863 132.33 0.49 NAV as on 30-Sept-2006 (Originator - ICICI Bank Ltd.) LAAA (SO) 18 1,199.80 6.29 Reliance Industries Ltd. Petroleum Products 9,181 125.63 0.46 Loan Securitisation Trust - Reliance Industries PTC Exide Industries Ltd. Auto Ancillaries 273,550 116.67 0.43 Retail Growth Plan (Rs) - (Originator - ICICI Bank Ltd.) AAA (SO) 20 972.80 5.10 Cummins India Ltd. Industrial Products 42,196 111.78 0.41 Retail Dividend Plan (Rs) - Citibank N.A AAA 5 515.04 2.70 Satyam Computer Services Ltd. Software 23,085 108.52 0.40 Institutional Growth (Rs) - Loan Securitisation Trust - Bajaj Auto PTC Jaiprakash Associates Ltd. Construction 19,890 107.15 0.39 Institutional Dividend (Rs) - Sun Pharmaceutical Industries Ltd. Pharmaceuticals 8,491 89.50 0.33 (Originator - ICICI Bank) AAA (SO) 7 458.28 2.40 NAV as on 31-Mar-2007 Total 81 4,759.40 24.96 Tata Motors Ltd. Auto 11,720 85.29 0.31 Goverment Securities HDFC Bank Ltd. Banks 8,900 84.50 0.31 Retail Growth Plan (Rs) 10.0129 08.07% GOI 2017 SOV 250,000 251.05 1.32 Aditya Birla Nuvo Ltd. Textile Products 6,374 67.68 0.25 Retail Dividend Plan (Rs) 10.0129 Motor Industries Co. Ltd. Auto Ancillaries 1,985 64.71 0.24 07.55% GOI 2010 SOV 300 0.30 0.00* Institutional Growth (Rs) 10.0130 Total 250,300 251.35 1.32 India Infoline Ltd. Finance 18,940 63.17 0.23 Money Market Instruments Petronet LNG Ltd. Gas 133,986 56.21 0.21 Institutional Dividend (Rs) 10.0130 Certificate of Deposit Infrastructure Development Finance Corporation Ltd. Finance 45,950 38.46 0.14 b) Dividends declared during the Half - year ended March 31, 2007 : Nil ICICI Bank Ltd. A1+ 2,000 1,970.63 10.34 Pantaloon Retail (India) Ltd. Retailing 6,623 26.29 0.10 c) Average Maturity as on March 31, 2007 0.18 Years Union Bank of India A1+ 2,050 1,961.11 10.29 Idea Cellular Ltd. Telecom - Services 8,477 8.02 0.03 Total 1,509,126 4,916.17 18.09 Total 4,050 3,931.74 20.63 TEMPLETON FIXED HORIZON FUND - 3 MONTHS PLAN Totals 18,647.30 97.83 Debt Instruments Rating Call,Cash & Other Assets 413.03 2.17 Company Name Rating Quantity Market Value % to Net Listed / awaiting listing on Stock Exchanges (Rs. in Lakhs) Assets Net Assets 19,060.33 100.00 Non - Traded / Thinly Traded Scrips Debt Instruments Note: * Less than 0.01% Export Import Bank of India AAA 500 3,838.16 14.11 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Power Finance Corporation Ltd. AAA 390 3,770.44 13.86 Privately Placed / Unlisted NAV as on 30-Sep-2006 Infrastructure Development Finance Corporation Ltd. LAAA 390 3,758.74 13.82 Rabo India Finance Ltd. P1+ 250 2,500.00 13.82 Dividend Plan (Rs) 10.6166 Indian Railway Finance Corporation AAA 390 3,752.62 13.80 Total 250 2,500.00 13.82 Growth Plan (Rs) 25.2354 Housing Development Finance Corporation Ltd. AAA 330 3,162.95 11.63 NAV as on 31-March-2007 LIC Housing Finance Ltd. AAA 120 1,137.22 4.18 Money Market Instruments Total 2,120 19,420.13 71.40 Dividend Plan (Rs) 10.3519 Commercial Paper Growth Plan (Rs) 25.6870 Money Market Instruments Rabo India Finance Ltd. P1+ 500 2,470.90 13.66 b) Dividends declared during the Half - year ended March 31, 2007: Total 500 2,470.90 13.66 Commercial Paper Record date Dividend per unit Dividend % age to Face Value LIC Housing Finance Ltd. P1+ 200 968.43 3.56 Certificate of Deposit 29-Dec-06 Total 200 968.43 3.56 ICICI Bank Ltd. A1+ 7,500 7,411.99 40.97 Individuals/HUF 0.1316 1.3155 State Bank of Indore P1+ 3,300 3,261.95 18.03 Industrial Development Bank of India Ltd. A1+ 2,450 2,426.98 13.42 Others 0.1225 1.2251 Totals 25,304.73 93.05 Call,Cash & Other Assets 1,890.29 6.95 Total 13,250 13,100.92 72.42 28-Mar-07 Net Assets 27,195.02 100.00 Individuals/HUF 0.1316 1.3155 Total 18,071.82 99.90 Note : Call,Cash & Other Assets 18.76 0.10 Others 0.1225 1.2251 c) Average Maturity as on March 31, 2007: 2.81 Years a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Net Assets 18,090.58 100.00 NAV as on 30-Sept-2006 Note : Dividend Plan (Rs.) - a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 TEMPLETON INDIA GOVERNMENT SECURITIES FUND TREASURY PLAN Growth Plan (Rs.) - NAV as on 30-Sept-2006 Company Name Rating Quantity Market Value % to Net (Rs. in Lakhs) Assets NAV as on 31-Mar-2007 Retail Growth Plan (Rs) - Retail Dividend Plan (Rs) - Goverment Securities Dividend Plan (Rs.) 9.8293 06.65% GOI 2009 SOV 5,500,000 5,362.50 33.88 Growth Plan (Rs.) 9.8293 Institutional Growth (Rs) - 07.33% GOI 2009 SOV 2,500,000 2,455.63 15.52 Institutional Dividend (Rs) - b) Dividends declared during the Half - year ended March 31, 2007: Nil 07.07% GOI 2009 (OIL MKTG. GOI SB) SOV 2,500,000 2,441.63 15.43 NAV as on 31-Mar-2007 09.39% GOI 2011 SOV 1,000,000 1,050.00 6.63 07.37% GOI 2014 SOV 500,000 482.50 3.05 c) Average Maturity as on March 31, 2007: 4.00 Years Retail Growth Plan (Rs) 10.1192 Total 12,000,000 11,792.26 74.51 Retail Dividend Plan (Rs) 10.0592 Call,Cash & Other Assets 4,033.88 25.49 TEMPLETON FIXED HORIZON FUND - SERIES I - 13 MONTHS PLAN Net Assets 15,826.14 100.00 Institutional Growth (Rs) 10.1224 Company Name Rating Quantity Market Value % to Net Institutional Dividend (Rs) 10.0623 Note : (Rs. in Lakhs) Assets b) Dividends declared during the Half - year ended March 31, 2007: a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Debt Instruments NAV as on 30-Sept-2006 (a) Listed / awaiting listing on Stock Exchanges Record date Dividend per unit/ Dividend %age to Face Value Dividend Plan (Rs) 10.7971 Non - Traded / Thinly Traded Scrips DSP Merrill Lynch Capital Ltd. AAA(FSO) 1,020 10,178.08 12.42 Retail Dividend Growth Plan (Rs) 13.5987 Housing Development Finance Corporation Ltd. AAA 450 4,056.04 4.95 28-Mar-07 NAV as on 31-Mar-2007 Cholamandlam DBS Finance Ltd. LAA 400 3,592.64 4.38 Individuals/HUF 0.0526 0.5262 Others 0.0490 0.4900 Dividend Plan (Rs) 10.5502 Industrial Development Bank of India Ltd. AA+ 3,000 3,033.22 3.70 Infrastructure Leasing & Financial Services Ltd. LAAA 250,000 2,496.24 3.05 Growth Plan (Rs) 13.9751 Citicorp Finance (India) Ltd. AAA 150 1,498.38 1.83 Institutianal Dividend b) Dividends declared in the Templeton India Government Securities Fund - Treasury Plan (Dividend Total 255,020 24,854.60 30.33 28-Mar-07 Option) during the Half - year ended March 31, 2007 Individuals/HUF 0.0526 0.5262 Record date Dividend per unit Dividend %age to (b) Privately Placed / Unlisted Others 0.0490 0.4900 Face Value Corporate Loan Securisation Series XXV c) Average Maturity as on March 31, 2007 0.12 Years 29-Dec-06 Trust 2006 Series 25 A2 (Originator - Kotak Mahindra Bank Ltd.) AA- (ind) (SO) 44 4,520.87 5.52 Individuals/HUF 0.1316 1.3155 Corporate Loan Securisation Trust Series XXVI A2 Note for all Funds : Others 0.1225 1.2251 (Originator - Kotak Mahindra Bank Ltd.) AA- (ind) (SO) 19 1,922.42 2.35 28-Mar-07 Total 63 6,443.29 7.87 i) Total NPA's provided : Nil Money Market Instruments Individuals/HUF 0.2193 2.1925 Certificate of Deposit ii) Total value and percentage of Illiquid equity shares has been disclosed below the respective Portfolio's. Others 0.2042 2.0418 ICICI Bank Ltd. A1+ 50,080 45,403.18 55.39 iii) There is no exposure to derivative Instruments as on March 31, 2007. c) Average Maturity as on March 31, 2007 2.04 Years Total 50,080 45,403.18 55.39 Totals 76,701.07 93.59 iv) NIL exposure in ADR/GDR as at March 31, 2007. Call,Cash & Other Assets 5,270.23 6.41 FRANKLIN TEMPLETON CAPITAL SAFETY FUND - 3 YEARS PLAN Net Assets 81,971.30 100.00 v ) The percentage in terms of market value of investments made in Foreign Securities as at March 31, 2007 is as under : Company Name Rating Quantity Market Value % to Net Note : (Rs. in Lakhs) Assets a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Scheme Name Market Value Percentage to Equity & Equity Related NAV as on 30-Sept-2006 (Rs.in lacs) Net Assets Listed/Awaiting listing on Stock Exchanges Retail Growth Plan (Rs) - Franklin India International Fund 85.44 87.71% Housing Development Finance Corp. Ltd. Finance 13,677 207.94 0.93 Retail Dividend Plan (Rs) - Bharti Airtel Ltd. Telecom - Services 25,179 192.17 0.85 Templeton India Equity Income Fund 46,233.44 26.75% Kotak Mahindra Bank Ltd. Banks 39,934 191.54 0.85 Institutional Growth (Rs) - Grasim Industries Ltd. Cement 8,919 186.52 0.83 Institutional Dividend (Rs) - vi ) Past Performance may or may not be sustained in the future. Infosys Technologies Ltd. Software 8,390 168.86 0.75 NAV as on 31-Mar-2007 vii) Average Maturity of all the debt oriented schemes is expressed as the weighted average maturity of the ICICI Bank Ltd. Banks 18,959 161.74 0.72 Retail Growth Plan (Rs) 10.0422 portfolio in the fund in terms of no. of years. ABB Ltd. Industrial Capital Goods 4,360 154.82 0.69 Retail Dividend Plan (Rs) 10.0422 Tata Consultancy Services Ltd. Software 12,362 152.20 0.68 Institutional Growth (Rs) 10.0436 viii) The portfolio turnover ratio for all the equity oriented schemes is the lower of purchases or sales to the HDFC Bank Ltd. Banks 15,066 143.04 0.64 average NAV during the half year ended March 31, 2007. Bajaj Auto Ltd. Auto 5,692 138.06 0.61 Institutional Dividend (Rs) 10.0436 Larsen & Toubro Ltd. Diversified 8,504 137.69 0.61 b) Dividends declared during the Half - year ended March 31, 2007: Nil ix ) Pursuant to payment of dividend, NAV of all the Scheme would fall to the extent of payout and statutory Motor Industries Co. Ltd. Auto Ancillaries 3,673 119.73 0.53 c) Average Maturity as on March 31, 2007 0.94 Years levy (as applicable). Maruti Udyog Ltd. Auto 13,570 111.23 0.49 Reliance Industries Ltd. Petroleum Products 7,472 102.24 0.46 TEMPLETON FIXED HORIZON FUND- SERIES I -15 MONTHS PLAN Siemens Ltd. Industrial Capital Goods 8,601 93.81 0.42 Company Name Rating Quantity Market Value % to Net Satyam Computer Services Ltd. Software 18,838 88.56 0.39 (Rs. in Lakhs) Assets Dr. Reddy's Laboratories Ltd. Pharmaceuticals 11,906 86.62 0.39 Marico Ltd. Consumer Non Durables 140,427 86.08 0.38 Debt Instruments Centurion Bank of Punjab Ltd. Banks 197,547 74.18 0.33 (a) Listed / awaiting listing on Stock Exchanges Madras Cements Ltd. Cement 2,660 72.38 0.32 Exide Industries Ltd. Auto Ancillaries 151,380 64.56 0.29 Non - Traded / Thinly Traded Scrips Cummins India Ltd. Industrial Products 23,096 61.18 0.27 DSP Merrill Lynch Capital Ltd. AAA(FSO) 330 3,254.20 13.22 Tata Motors Ltd. Auto 8,310 60.48 0.27 Jaiprakash Associates Ltd. Construction 10,884 58.63 0.26 Citifinancial Consumer Finance India Ltd. AAA 300 2,910.17 11.82 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 4,647 48.98 0.22 State Bank of India AAA 250 2,525.40 10.26 Aditya Birla Nuvo Ltd. Textile Products 3,812 40.48 0.18 GE Capital Services (India) AAA 250 2,464.99 10.01 India Infoline Ltd. Finance 10,362 34.56 0.15 Petronet LNG Ltd. Gas 73,320 30.76 0.14 Kotak Mahindra Prime Ltd. LAA 250 2,221.72 9.02 Infrastructure Development Finance Corp. Ltd. Finance 25,152 21.05 0.09 Total 1,380 13,376.48 54.33 Pantaloon Retail (India) Ltd. Retailing 3,611 14.33 0.06 Idea Cellular Ltd. Telecom - Services 4,647 4.39 0.02 (b) Privately Placed / Unlisted Total 884,957 3,108.81 13.82 Indian Corporate Loan Securitisation Trust PTC Debt Instruments Rating Series 22 A1 (Originator - Yes Bank Ltd.) LAAA (SO) 34 3,405.04 13.83 (a) Listed / awaiting listing on Stock Exchanges Non - Traded / Thinly Traded Scrips Corporate Loan Securisation Trust Series XXVI A2 Infrastructure Development Finance Corporation Ltd. LAAA 420 3,264.63 14.52 (Originator - Kotak Mahindra Bank Ltd.) AA- (ind) (SO) 25 2,529.50 10.27 Housing Development Finance Corporation Ltd. AAA 330 3,203.31 14.25 GE Money Financial Services Ltd. AAA 25 2,464.93 10.01 Power Finance Corporation Ltd. AAA 330 3,193.02 14.20 GE Capital Services (India) AAA 170 1,668.20 7.42 Rabo India Finance Ltd. AAA 250 2,252.03 9.15 Power Grid Corporation of India Ltd. AAA 50 473.27 2.11 Total 334 10,651.50 43.26 Total 1,300 11,802.43 52.50 Money Market Instruments (b) Privately Placed / Unlisted NABARD AAA 330 3,170.00 14.10 Certificate of Deposit Total 330 3,170.00 14.10 ICICI Bank Ltd. A1+ 350 317.38 1.29 Money Market Instruments Total 350 317.38 1.29 Certificate of Deposit Totals 24,345.36 98.88 Export Import Bank of India AAA 4,200 3,369.59 14.99 Total 4,200 3,369.59 14.99 Call,Cash & Other Assets 275.47 1.12 Totals 21,450.83 95.41 Net Assets 24,620.83 100.00 Call,Cash & Other Assets 1,030.99 4.59 Net Assets 22,481.80 100.00 Note : a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Note : NAV as on 30-Sept-2006 a) NAV at the beginning and at the end of the Half-year ended March 31, 2007 Retail Growth Plan (Rs) - NAV as on 30-Sept-2006 Retail Dividend Plan (Rs) - Dividend Plan (Rs.) - Institutional Growth (Rs) - Growth Plan (Rs.) - NAV as on 31-Mar-2007 NAV as on 31-Mar-2007 Dividend Plan (Rs.) 9.9048 Retail Growth Plan (Rs) 10.0364 Growth Plan (Rs.) 9.9048 Retail Dividend Plan (Rs) 10.0364 b) Dividends declared during the Half - year ended March 31, 2007: Nil Institutional Growth (Rs) 10.0408 b) Dividends declared during the Half - year ended March 31, 2007: Nil c) Average Maturity as on March 31, 2007: 2.55 Years c) Average Maturity as on March 31, 2007 1.04 Years