Securities Law & Instruments


Subsection 213(3)(b) of the Loan and Trust CorporationsAct -- application for approval to act as trustee.

Statutes Cited

Loan and Trust Corporations Act, R.S.O. 1990,c. L.25, as am., ss. 213(3)(b).

May 23, 2003

Borden Ladner Gervais LLP

Attention: Brian D. Behrman

Franklin Templeton Investment Corp.(the "Applicant")
Application for Exemptive Reliefpursuant to clause 213(3)(b) of the Loan and TrustCorporations Act (Ontario)
Application # 286/03

Further to an application dated May 8, 2003(the "Application") filed on behalf of the Applicantand based on the facts set out in the Application, pursuantto the authority conferred on the Ontario Securities Commission(the "Commission") in clause 213(3)(b) of the Loanand Trust Corporations Act, 1987 (Ontario), the Commissionapproves the proposal that the Applicant act as the trusteeof funds managed by the Applicant, which are not offered undera prospectus or simplified prospectus and annual informationform.

"H. Lorne Morphy"
"Robert W. Korthals"