FRANkLiN U.S. VALUE FUNDS - Franklin Templeton

Franklin MicroCap
Value Fund 1
NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE
Franklin U.S. Value Funds
SEEKING VALUE ACROSS THE MARKET CAP SPECTRUM
CAP SPECIFIC VALUE FUNDS ALL CAP VALUE FUNDS
Franklin Small Cap
Value Fund
Franklin MidCap
Value Fund
Franklin Large Cap
Value Fund
Franklin All Cap
Value Fund
Franklin Balance
Sheet Investment Fund
Class A Symbol FRMCX FRVLX FMVAX FLVAX FRAVX FRBSX FRDPX
Inception Date 12/12/95 3/11/96 7/1/05 6/1/00 6/1/07 4/2/90 1/14/87
Goal High total return by
investing at least 80%
of its net assets in
investments of microcapitalization
companies.
The fund focuses on
companies trading at
low price-to-book values.
Long-term total return
by investing at least
80% of its net assets
in undervalued smallcapitalization
companies.
Long-term total return
by investing at least
80% of its net assets
in undervalued midcapitalization
companies.
Long-term capital
appreciation by investing
at least 80% of its net
assets in undervalued
large-capitalization
companies.
Long-term total return
by primarily investing
in equity securities of
companies of any size
that the fund’s manager
believes are undervalued
at the time of purchase
and have the potential
for capital appreciation.
High total return by
investing primarily in
equity securities of
companies of any size
that the fund’s manager
believes are undervalued
at the time of purchase
and have the potential
for capital appreciation.
The fund focuses on
companies trading at low
price-to-book values.
As of September 30, 2010
Franklin Rising
Dividends Fund
Total Net Assets $343.2 million $1.4 billion $65.3 million $135.4 million $18.3 million $2.1 billion $2.8 billion
Portfolio Managers 2
Average Manager
Tenure
Bruce Baughman, CPA
William Lippman
Margaret McGee
Donald Taylor, CPA
14.7 years
William Lippman
Y. Dogan Sahin, CFA 2
Bruce Baughman, CPA
Margaret McGee
Donald Taylor, CPA
11.8 years
Samuel Kerner, CFA
Bruce Baughman, CPA
William Lippman
Margaret McGee
Donald Taylor, CPA
5.0 years
William Lippman
Bruce Baughman, CPA
Margaret McGee
Donald Taylor, CPA
10.0 years
Steve Raineri
William Lippman
Bruce Baughman, CPA
Margaret McGee
Donald Taylor, CPA
3.0 years
Bruce Baughman, CPA
William Lippman
Margaret McGee
Donald Taylor, CPA
18.5 years
Long-term capital
appreciation by investing
at least 80% of its net
assets in equity securities
of companies of
any size that have paid
consistently rising
dividends.
Donald Taylor, CPA
Bruce Baughman, CPA
William Lippman
Margaret McGee
20.0 years
Lipper Category Small-Cap Value Small-Cap Value Mid-Cap Value Large-Cap Value Multi-Cap Value Mid-Cap Value Multi-Cap Value
Morningstar Category Small Value Small Value Mid-Cap Value Large-Cap Value Mid-Cap Value Mid-Cap Value Large Blend
Benchmark Russell 2000
Value Index
Russell 2500
Value Index
Russell Midcap
Value Index
Russell 1000
Value Index
Russell 3000
Value Index
Russell 3000
Value Index
Number of Holdings 85 118 60 59 48 91 49
Turnover Rate 3
S&P 500 Index
10.97% 2.58% 14.56% 10.95% 38.74% 6.07% 22.61%

Franklin U.S. Value Funds: A Track Record of Strong Long-Term Performance
AVERAGE ANNUAL TOTAL RETURNS–CLASS A SHARES (Period Ended September 30, 2010)
With Maximum 5.75% Sales Charge
1-Year 3-Year 5-Year 10-Year Since Inception (Date) Expense Ratio
Franklin MicroCap Value Fund1 0.22% -6.81% 1.11% 10.14% 10.56% (12/12/95) 1.27%
Franklin Small Cap Value Fund 3.62% -5.41% 0.77% 7.62% 7.76% (3/11/96) 1.44%
Franklin MidCap Value Fund 10.06% -6.70% -0.22% — 0.04% (7/01/05) 1.90% without waiver
1.37% with waiver 4
Franklin Large Cap Value Fund 0.35% -10.38% -2.04% 2.79% 3.21% (6/1/00) 1.50%
Franklin All Cap Value Fund 8.62% -5.80% — — -7.02% (6/1/07) 2.09% without waiver
1.23% with waiver 4
Franklin Balance Sheet Investment Fund 4.35% -9.90% -1.91% 6.50% 10.02% (4/2/90) 1.08%
Franklin Rising Dividends Fund 9.55% -6.17% 1.37% 6.01% 8.26% (1/14/87) 1.17%
Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures
shown. The funds’ investment returns and principal values will change with market conditions, an investor may have a gain or a loss
when they sell their shares. Please call Franklin Templeton Investments at (800) 342-5236 or visit franklintempleton.com for the funds’
most recent month-end performance.
What Are the Risks?
Value securities may not increase in price as anticipated or may decline further in value. Special risks are associated with foreign investing, including currency fluctuations, economic instability and
political developments. While investments in smaller and mid-size company stocks may offer substantial opportunities for capital growth, they also involve heightened risks and should be considered
speculative. Historically, smaller and mid-size company securities have been more volatile in price than larger company securities, especially over the short term. Investments in foreign securities involve
special risks, including currency fluctuations and economic and political uncertainty. These and other risk considerations are discussed in a Franklin Value Investors Trust or Franklin Rising Dividends
Fund prospectus.
Investors should carefully consider a fund’s investment goals, risks, charges and expenses before investing. To obtain a summary prospectus and/or a prospectus, which contains this and other
information, please talk to your financial advisor, call us at (800) DIAL BEN/(800) 342-5236 or visit franklintempleton.com. Please carefully read a prospectus before you invest or send money.
< GAIN FROM OUR PERSPECTIVE ® >
V A L U E B L E N D G R O W T H S E C T O R G L O B A L I N T E R N A T I O N A L H Y B R I D A S S E T A L L O C A T I O N F I X E D I N C O M E T A X - F R E E I N C O M E
Franklin Templeton Distributors, Inc.
One Franklin Parkway, San Mateo, CA 94403-1906
(800) DIAL BEN ® (800) 342-5236
TDD/Hearing Impaired (800) 851-0637
franklintempleton.com
1. Effective January 14, 2004, the fund is closed to all new
investors. Existing shareholders may continue adding additional
money to their accounts.
2. CFA ® and Chartered Financial Analyst ® are trademarks owned
by CFA Institute.
3. Turnover Rate data is as of 10/31/09 and is updated annually.
For Franklin Rising Dividends Fund, turnover rate is as of 9/30/09
and is updated annually.
4. Fund investment results reflect the expense reduction, without
which the results would have been lower. The fund’s expense
ratio, without waiver, does not include an expense reduction
contractually guaranteed through at least February 28, 2011.
Please see the fund’s prospectus for additional information.
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