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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                    FORM N-PX

          ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
                               INVESTMENT COMPANY


Investment Company Act file number 811-07851

FRANKLIN TEMPLETON FUND ALLOCATOR SERIES
- -------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)

ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)

CRAIG S. TYLE, ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906
- -------------------------------------------------------------------------------
(Name and address of agent for service)

Registrant's telephone number, including area code: (650) 312-2000
                                                    ---------------------------

Date of fiscal year end:    7/31
                          ------------------

Date of reporting period:   6/30/07
                          ------------------

ITEM 1. PROXY VOTING RECORDS.



================ FRANKLIN TEMPLETON 2015 RETIREMENT TARGET FUND ================


INSTITUTIONAL FIDUCIARY TRUST

Ticker:       INFXX          Security ID:  457756500
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
12    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


================ FRANKLIN TEMPLETON 2025 RETIREMENT TARGET FUND ================


INSTITUTIONAL FIDUCIARY TRUST

Ticker:       INFXX          Security ID:  457756500
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
12    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.



================ FRANKLIN TEMPLETON 2035 RETIREMENT TARGET FUND ================


INSTITUTIONAL FIDUCIARY TRUST

Ticker:       INFXX          Security ID:  457756500
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
12    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.



================ FRANKLIN TEMPLETON 2045 RETIREMENT TARGET FUND ================

N/A


================= FRANKLIN TEMPLETON CONSERVATIVE TARGET FUND ==================


FRANKLIN CUSTODIAN FUNDS, INC

Ticker:       FKDNX          Security ID:  353496607
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Amend Restated Declaration of Trust       For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


- --------------------------------------------------------------------------------

FRANKLIN GOLD FUND

Ticker:       FKRCX          Security ID:  353535107
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


- --------------------------------------------------------------------------------

FRANKLIN INVESTORS SECURITIES TRUST

Ticker:       FBEIX          Security ID:  353612856
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Rupert H. Johnson, Jr.      For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN MUTUAL SERIES FUND INC.

Ticker:       MUTHX          Security ID:  628380107
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Edward I. Altman            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Ann Torre Bates             For       Echo       Management
                                                          Vote
1.3   Elect Trustee Burton J. Greenwald         For       Echo       Management
                                                          Vote
1.4   Elect Trustee Bruce A. MacPherson         For       Echo       Management
                                                          Vote
1.5   Elect Trustee Charles Rubens, II          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Leonard Rubin               For       Echo       Management
                                                          Vote
1.7   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.8   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
1.9   Elect Trustee Peter A. Langerman          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN MUTUAL EUROPEAN FUND

Ticker:       MEUR           Security ID:  628380503
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Edward I. Altman            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Ann Torre Bates             For       Echo       Management
                                                          Vote
1.3   Elect Trustee Burton J. Greenwald         For       Echo       Management
                                                          Vote
1.4   Elect Trustee Bruce A. MacPherson         For       Echo       Management
                                                          Vote
1.5   Elect Trustee Charles Rubens, II          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Leonard Rubin               For       Echo       Management
                                                          Vote
1.7   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.8   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
1.9   Elect Trustee Peter A. Langerman          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


- --------------------------------------------------------------------------------

FRANKLIN REAL ESTATE SECURITIES FUND

Ticker:       FREEX          Security ID:  354602302
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Amend Restated Declaration of Trust       For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC MORTGAGE PORTFOLIO

Ticker:       FSMIX          Security ID:  354713620
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Amend Restated Declaration of Trust       For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713463
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713729
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713851
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

INSTITUTIONAL FIDUCIARY TRUST

Ticker:       INFXX          Security ID:  457756500
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
12    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


- --------------------------------------------------------------------------------

TEMPLETON CHINA WORLD FUND, INC.

Ticker:       TACWX          Security ID:  88018X102
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Frank J. Crothers           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.4   Elect Trustee David W. Niemiec            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.6   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.7   Elect Trustee Constantine D.              For       Echo       Management
      Tseretopoulos                                       Vote
1.8   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.1   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

TEMPLETON FUNDS, INC.

Ticker:       TEMWX          Security ID:  880196506
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Frank J. Crothers           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.4   Elect Trustee David W. Niemiec            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.6   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.7   Elect Trustee Constantine D.              For       Echo       Management
      Tseretopoulos                                       Vote
1.8   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Rupert H. Johnson, Jr.      For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

TEMPLETON INCOME TRUST

Ticker:       TPINX          Security ID:  880208103
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Frank J. Crothers           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.4   Elect Trustee David W. Niemiec            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.6   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.7   Elect Trustee Constantine D.              For       Echo       Management
      Tseretopoulos                                       Vote
1.8   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.1   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


================= FRANKLIN TEMPLETON COREFOLIO ALLOCATION FUND =================


FRANKLIN CUSTODIAN FUNDS, INC

Ticker:       FKDNX          Security ID:  353496508
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Rupert H. Johnson, Jr.      For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN EQUITY FUND

Ticker:       FKREX          Security ID:  353516107
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN MUTUAL SERIES FUND INC.

Ticker:       TESIX          Security ID:  628380107
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Edward I. Altman            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Ann Torre Bates             For       Echo       Management
                                                          Vote
1.3   Elect Trustee Burton J. Greenwald         For       Echo       Management
                                                          Vote
1.4   Elect Trustee Bruce A. MacPherson         For       Echo       Management
                                                          Vote
1.5   Elect Trustee Charles Rubens, II          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Leonard Rubin               For       Echo       Management
                                                          Vote
1.7   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.8   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
1.9   Elect Trustee Peter A. Langerman          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

INSTITUTIONAL FIDUCIARY TRUST

Ticker:       INFXX          Security ID:  457756500
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
12    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


============== FRANKLIN TEMPLETON FOUNDING FUNDS ALLOCATION FUND ===============


FRANKLIN CUSTODIAN FUNDS, INC

Ticker:       FKDNX          Security ID:  353496300
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Rupert H. Johnson, Jr.      For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN MUTUAL SERIES FUND INC.

Ticker:       TESIX          Security ID:  628380107
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Edward I. Altman            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Ann Torre Bates             For       Echo       Management
                                                          Vote
1.3   Elect Trustee Burton J. Greenwald         For       Echo       Management
                                                          Vote
1.4   Elect Trustee Bruce A. MacPherson         For       Echo       Management
                                                          Vote
1.5   Elect Trustee Charles Rubens, II          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Leonard Rubin               For       Echo       Management
                                                          Vote
1.7   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.8   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
1.9   Elect Trustee Peter A. Langerman          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.



==================== FRANKLIN TEMPLETON GROWTH TARGET FUND =====================


FRANKLIN INVESTORS SECURITIES TRUST

Ticker:       FBEIX          Security ID:  353612856
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Rupert H. Johnson, Jr.      For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713463
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713729
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713851
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

TEMPLETON FUNDS, INC.

Ticker:       TEMWX          Security ID:  880196506
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Frank J. Crothers           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.4   Elect Trustee David W. Niemiec            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.6   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.7   Elect Trustee Constantine D.              For       Echo       Management
      Tseretopoulos                                       Vote
1.8   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Rupert H. Johnson, Jr.      For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.



=================== FRANKLIN TEMPLETON MODERATE TARGET FUND ====================


FRANKLIN CUSTODIAN FUNDS, INC

Ticker:       FKDNX          Security ID:  353496607
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Amend Restated Declaration of Trust       For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN GOLD AND PRECIOUS METALS FUND

Ticker:       FKRCX          Security ID:  353535107
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN INVESTORS SECURITIES TRUST

Ticker:       FBEIX          Security ID:  353612856
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Rupert H. Johnson, Jr.      For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN MUTUAL SERIES FUND INC.

Ticker:       TESIX          Security ID:  628380107
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Edward I. Altman            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Ann Torre Bates             For       Echo       Management
                                                          Vote
1.3   Elect Trustee Burton J. Greenwald         For       Echo       Management
                                                          Vote
1.4   Elect Trustee Bruce A. MacPherson         For       Echo       Management
                                                          Vote
1.5   Elect Trustee Charles Rubens, II          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Leonard Rubin               For       Echo       Management
                                                          Vote
1.7   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.8   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
1.9   Elect Trustee Peter A. Langerman          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN MUTUAL SERIES FUND INC.

Ticker:       TESIX          Security ID:  628380503
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Edward I. Altman            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Ann Torre Bates             For       Echo       Management
                                                          Vote
1.3   Elect Trustee Burton J. Greenwald         For       Echo       Management
                                                          Vote
1.4   Elect Trustee Bruce A. MacPherson         For       Echo       Management
                                                          Vote
1.5   Elect Trustee Charles Rubens, II          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Leonard Rubin               For       Echo       Management
                                                          Vote
1.7   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.8   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
1.9   Elect Trustee Peter A. Langerman          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote


For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN REAL ESTATE SECURITIES FUND

Ticker:       FREEX          Security ID:  354602302
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Amend Restated Declaration of Trust       For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
10    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC MORTGAGE PORTFOLIO

Ticker:       FSMIX          Security ID:  354713620
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713463
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713729
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713851
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

INSTITUTIONAL FIDUCIARY TRUST

Ticker:       INFXX          Security ID:  457756500
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
12    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

TEMPLETON CHINA WORLD FUND, INC.

Ticker:       TACWX          Security ID:  88018X102
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Frank J. Crothers           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.4   Elect Trustee David W. Niemiec            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.6   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.7   Elect Trustee Constantine D.              For       Echo       Management
      Tseretopoulos                                       Vote
1.8   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.1   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

TEMPLETON FUNDS, INC.

Ticker:       TEMWX          Security ID:  880196506
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Frank J. Crothers           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.4   Elect Trustee David W. Niemiec            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.6   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.7   Elect Trustee Constantine D.              For       Echo       Management
      Tseretopoulos                                       Vote
1.8   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Rupert H. Johnson, Jr.      For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

TEMPLETON INCOME TRUST

Ticker:       TPINX          Security ID:  880208103
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Frank J. Crothers           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.4   Elect Trustee David W. Niemiec            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.6   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.7   Elect Trustee Constantine D.              For       Echo       Management
      Tseretopoulos                                       Vote
1.8   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.1   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.


================ FRANKLIN TEMPLETON PERPECTIVES ALLOCATION FUND ================


FRANKLIN MUTUAL SERIES FUND INC.

Ticker:       TESIX          Security ID:  628380107
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Edward I. Altman            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Ann Torre Bates             For       Echo       Management
                                                          Vote
1.3   Elect Trustee Burton J. Greenwald         For       Echo       Management
                                                          Vote
1.4   Elect Trustee Bruce A. MacPherson         For       Echo       Management
                                                          Vote
1.5   Elect Trustee Charles Rubens, II          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Leonard Rubin               For       Echo       Management
                                                          Vote
1.7   Elect Trustee Robert E. Wade              For       Echo       Management
                                                          Vote
1.8   Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
1.9   Elect Trustee Peter A. Langerman          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

FRANKLIN STRATEGIC SERIES

Ticker:       FUSLX          Security ID:  354713463
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Harris J. Ashton          For       Echo       Management
                                                          Vote
1.2   Elect  Director Robert F. Carlson         For       Echo       Management
                                                          Vote
1.3   Elect  Director Sam L. Ginn               For       Echo       Management
                                                          Vote
1.4   Elect  Director Edith E. Holiday          For       Echo       Management
                                                          Vote
1.5   Elect  Director Frank W. T. Lahaye        For       Echo       Management
                                                          Vote
1.6   Elect  Director Frank A. Olson            For       Echo       Management
                                                          Vote
1.7   Elect  Director Larry D. Thompson         For       Echo       Management
                                                          Vote
1.8   Elect  Director John B. Wilson            For       Echo       Management
                                                          Vote
1.9   Elect  Director Charles B. Johnson        For       Echo       Management
                                                          Vote
1.10  Elect  Director Rupert H. Johnson, Jr.    For       Echo       Management
                                                          Vote
2     Amend Declaration of Trust                For       Echo       Management
                                                          Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
                                       Vote

For all items above, voted shares in the same proportion as the vote of all
other shareholders.

- --------------------------------------------------------------------------------

INSTITUTIONAL FIDUCIARY TRUST

Ticker:       INFXX          Security ID:  457756500
Meeting Date: MAY 18, 2007   Meeting Type: Special
Record Date:  JAN 5, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Trustee Harris J. Ashton            For       Echo       Management
                                                          Vote
1.2   Elect Trustee Robert F. Carlson           For       Echo       Management
                                                          Vote
1.3   Elect Trustee Sam L. Ginn                 For       Echo       Management
                                                          Vote
1.4   Elect Trustee Edith E. Holiday            For       Echo       Management
                                                          Vote
1.5   Elect Trustee Frank W. T. LaHaye          For       Echo       Management
                                                          Vote
1.6   Elect Trustee Frank A. Olson              For       Echo       Management
                                                          Vote
1.7   Elect Trustee Larry D. Thompson           For       Echo       Management
                                                          Vote
1.8   Elect Trustee John B. Wilson              For       Echo       Management
                                                          Vote
1.9   Elect Trustee Charles B. Johnson          For       Echo       Management
                                                          Vote
1.10  Elect Trustee Gregory E. Johnson          For       Echo       Management
                                                          Vote
2     Approve Conversion to Series of Delaware  For       Echo       Management
      Business Trust                                      Vote
3     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
4     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
5     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
6     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
7     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
8     Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
9     Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
10    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote
11    Approve Elimination of Fundamental        For       Echo       Management
      Investment Policy                                   Vote
12    Approve Change of Fundamental Investment  For       Echo       Management
      Policy                                              Vote


For all items above, voted shares in the same proportion as the vote of all
other shareholders.






                                   SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

(Registrant) FRANKLIN TEMPLETON FUND ALLOCATOR SERIES

By (Signature and Title)*/s/JIMMY D. GAMBILL
                         ------------------------------------------------------
                         Jimmy D. Gambill,
                         Chief Executive Officer - Finance and Administration

Date  AUGUST 27, 2007
      ----------------------

* PRINT THE NAME AND TITLE OF EACH SIGNING OFFICER UNDER HIS OR HER SIGNATURE.