Templeton Emerging Markets Income Fund (“TEI”) Announces Portfolio Management Addition

Fort Lauderdale, Florida, January 2, 2018. Templeton Emerging Markets Income Fund (NYSE: TEI) today announced that Sonal Desai, Ph.D., will join Michael Hasenstab, Ph.D., as a secondary portfolio manager of Templeton Emerging Markets Income Fund. Dr. Desai is an employee of the Fund’s investment manager, Franklin Advisers, Inc., and portfolio manager and Director of Research for the Templeton Global Macro team. Dr. Desai is responsible for shaping the team's research agenda of in-depth global macroeconomic analysis covering thematic topics, regional and country analysis, and interest rate, currency and sovereign credit market outlooks. Dr. Hasenstab, who has been a member of the Fund’s management team since 2006, will continue to serve as the lead portfolio manager of the Fund.

The Fund’s investment manager, Franklin Advisers, Inc., is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes—including equity, fixed income, alternative and custom solutions. The company’s more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in over 30 countries, the California–based company has 70 years of investment experience and over $753 billion in assets under management as of November 30, 2017. For more information, please visit franklintempleton.com.