]> Press Releases--Closed-End Funds, Templeton Releases Portfolio Allocation Updates
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Templeton Releases Closed-End Funds Portfolio Allocation Updates

From: Franklin Resources, Inc.
Contact: Lisa Gallegos
Telephone:(650) 312-3395

Fort Lauderdale, Florida, September 23, 2002 -- The Templeton closed-end Funds referenced below, which trade on the New York Stock Exchange, today released portfolio allocation updates containing the following information as of August 31, 2002:

  • Asset Allocation
  • Portfolio Characteristics/Ten Largest Positions
  • Country Distribution/Industry Allocation
  • Net Currency Distribution/International Allocation

To obtain a copy of the updates, please contact Fund Information at 1-800-342-5236.

Templeton closed-end Funds:

Templeton China World Fund, Inc. (NYSE: TCH)
Templeton Emerging Markets Fund, Inc. (NYSE: EMF)
Templeton Emerging Markets Income Fund, Inc. (NYSE: TEI)
Templeton Global Income Fund, Inc. (NYSE: GIM)

The Funds' investment advisers are subsidiaries of Franklin Resources, Inc. (NYSE: BEN), a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management services through its Franklin, Templeton, Mutual Series and Fiduciary Trust subsidiaries. The San Mateo, CA-based company has over 50 years of investment experience and more than $259 billion in assets under management as of August 31, 2002. For more information, please call 1-800-DIAL BEN® (1-800-342-5236).

TEMPLETON CHINA WORLD FUND, INC.
AS OF AUGUST 31, 2002
TOTAL ASSETS: $173,295,344
NET ASSET VALUE PER SHARE: $10.65

ASSET
ALLOCATION
PERCENT OF TOTAL TEN LARGEST POSITIONS PERCENT OF TOTAL
SHORT TERM & OTHER 3.8% DAIRY FARM INTERNATIONAL HOLDINGS LTD 11.4%
EQUITY* 96.2%
=========
CHINA PETROLEUM & CHEMICAL CORP 8.4%
100.0% ZHEJIANG EXPRESSWAY CO LTD 6.2%
COSCO PACIFIC LTD 4.7%
JIANGSU EXPRESSWAY COMPANY LTD 4.5%
CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD 4.3%
TSINGTAO BREWERY CO LTD 4.2%
PETROCHINA CO LTD 4.0%
GUANGSHEN RAILWAY COMPANY LIMITED 3.6%
CHINA MOBILE (HONG KONG) LTD 3.5%

========

54.8%
INTERNATIONAL ALLOCATION PERCENT OF TOTAL INDUSTRY ALLOCATION PERCENT OF TOTAL
ASIA 96.2% CONSUMER DISCRETIONARY 3.8%
CHINA 50.0% AUTOMOBILES & COMPONENTS 1.1%
HONG KONG 37.2% CONSUMER DURABLES & APPAREL 0.2%
TAIWAN 9.0% HOTELS RESTAURANTS & LEISURE 2.5%
TOTAL EQUITY 96.2% CONSUMER STAPLES 16.3%
FOOD & DRUG RETAILING 11.4%
FOOD BEVERAGE & TOBACCO 4.9%
ENERGY 13.3%
ENERGY 13.3%
FINANCIALS 11.0%
BANKS 3.4%
DIVERSIFIED FINANCIALS 2.8%
REAL ESTATE 4.8%
HEALTH CARE 1.3%
PHARMACEUTICALS & BIOTECHNOLOGY 1.3%
INDUSTRIALS 24.5%
CAPITAL GOODS 5.6%
TRANSPORTATION 19.0%
INFORMATION TECHNOLOGY 3.5%
TECHNOLOGY HARDWARE & EQUIPMENT 3.5%
MATERIALS 12.8%
MATERIALS 12.8%
TELECOMMUNICATION SERVICES 4.0%
TELECOMMUNICATION SERVICES 4.0%
UTILITIES 5.7%
UTILITIES 5.7%
TOTAL EQUITY* 96.2%

You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800-DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates of countries where the Fund invests. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. You may have a gain or loss when you sell your shares. The industry allocation uses MSCI's industry definitions for the convenience of comparison. The information provided is as of the date shown. The Fund's portfolio is actively managed and investment allocations can be expected to change.

* EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.



TEMPLETON EMERGING MARKETS FUND, INC.
AS OF AUGUST 31, 2002
TOTAL ASSETS: $154,640,382
NET ASSET VALUE PER SHARE: $8.76

ASSET
ALLOCATION
PERCENT OF TOTAL TEN LARGEST POSITIONS PERCENT OF TOTAL
SHORT TERM & OTHER 4.4% SABMILLER PLC 2.9%
EQUITY* 95.6%
=========
PT TELEKOMUNIKASI INDONESIA TBK 2.5%
100.0% KIMBERLY-CLARK DE MEXICO SA DE CV 2.0%
ANGLO AMERICAN PLC 2.0%
KOREA ELECTRIC POWER CORP 1.9%
SAMSUNG ELECTRONICS CO LTD 1.9%
AKBANK 1.8%
SIAM CEMENT PUBLIC CO LTD (THE) 1.8%
CITIC PACIFIC LTD 1.7%
LUKOIL HOLDINGS 1.6%

========

54.8%
INTERNATIONAL ALLOCATION PERCENT OF TOTAL INDUSTRY ALLOCATION PERCENT OF TOTAL
ASIA 96.2% CONSUMER DISCRETIONARY 6.6%
CHINA 4.9% AUTOMOBILES & COMPONENTS 1.2%
HONG KONG 7.7% CONSUMER DURABLES & APPAREL 1.1%
INDIA 3.7% HOTELS RESTAURANTS & LEISURE 2.2%
INDONESIA 4.5% RETAILING 2.1%
MALAYSIA 1.1% CONSUMER STAPLES 15.2%
PHILIPPINES 1.1% FOOD & DRUG RETAILING 0.1%
SINGAPORE 3.7% FOOD BEVERAGE & TOBACCO 12.9%
SOUTH KOREA 15.3% HOUSEHOLD & PERSONAL PRODUCTS 2.2%
TAIWAN 4.9% ENERGY 12.5%
THAILAND 4.3% ENERGY 12.5%
TURKEY 4.7% FINANCIALS 16.7%
EUROPE 11.4% BANKS 8.4%
AUSTRIA 2.7% DIVERSIFIED FINANCIALS 3.8%
CROATIA 0.6% INSURANCE 2.8%
CZECH REPUBLIC 0.2% REAL ESTATE 1.7%
GREECE 1.0% HEALTH CARE 1.7%
HUNGARY 2.4% PHARMACEUTICALS & BIOTECHNOLOGY 1.7%
POLAND 1.5% INDUSTRIALS 15.3%
RUSSIA 3.0% CAPITAL GOODS 12.7%
LATIN AMERICA 11.3% COMMERCIAL SERVICES & SUPPLIES 0.1%
ARGENTINA 0.6% TRANSPORTATION 2.5%
BRAZIL 4.7% INFORMATION TECHNOLOGY 6.0%
MEXICO 5.9% SOFTWARE & SERVICES 1.5%
PERU 0.2% TECHNOLOGY HARDWARE & EQUIPMENT 4.5%
MID-EAST/AFRICA 16.9% MATERIALS 7.8%
EGYPT 0.6% MATERIALS 7.8%
ISRAEL 0.5% TELECOMMUNICATION SERVICES 9.9%
SOUTH AFRICA 15.8% TELECOMMUNICATION SERVICES 9.9%
TOTAL EQUITY* 95.6% UTILITIES 3.9%
UTILITIES 3.9%
TOTAL EQUITY* 95.6%

You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800-DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates of countries where the Fund invests. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. You may have a gain or loss when you sell your shares. The industry allocation uses MSCI's industry definitions for the convenience of comparison. The information provided is as of the date shown. The Fund's portfolio is actively managed and investment allocations can be expected to change.

* EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.

TEMPLETON EMERGING MARKETS INCOME FUND, INC.
AS OF AUGUST 31, 2002
TOTAL ASSETS: $522,209,697
NET ASSET VALUE PER SHARE: $11.11

ASSET
ALLOCATION
PERCENT OF TOTAL PORTFOLIO CHARACTERISTICS
CASH & OTHER 5.4% WEIGHTED AVG. CREDIT QUALITY BBB-
FIXED INCOME 94.4% WEIGHTED AVG. MATURITY 15 yrs.
EQUITY* 0.2%
========
WEIGHTED AVG. DURATION 4.38 yrs.
100.0% WEIGHTED AVG. COUPON 10.243%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL COUNTRY DISTRIBUTION PERCENT OF TOTAL
NORTH AMERICA 99.8% EUROPE 36.6%
US DOLLAR 99.8% BULGARIA 4.6%
ASIA 0.2% NETHERLANDS 3.6%
INDO RUPIAH 0.2%
========
POLAND 1.6%
TOTAL 100.0% RUSSIA 23.5%
UKRAINE 3.3%
ASIA 16.4%
INDONESIA 0.9%
MALAYSIA 0.5%
PHILIPPINES 11.9%
TURKEY 3.1%
LATIN AMERICA 41.4%
BRAZIL 7.5%
COLOMBIA 3.7%
ECUADOR 1.9%
JAMAICA 1.0%
MEXICO 15.8%
PANAMA 2.3%
VENEZUELA 9.1%
TOTAL 94.4%

You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800-DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates of countries where the Fund invests. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. You may have a gain or loss when you sell your shares. The industry allocation uses MSCI's industry definitions for the convenience of comparison. The information provided is as of the date shown. The Fund's portfolio is actively managed and investment allocations can be expected to change.

* EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.



TEMPLETON GLOBAL INCOME FUND, INC.
AS OF AUGUST 31, 2002
TOTAL ASSETS: $944,602,129
NET ASSET VALUE PER SHARE: $7.29

ASSET
ALLOCATION
PERCENT OF TOTAL PORTFOLIO CHARACTERISTICS
CASH & OTHER 5.4% WEIGHTED AVG. CREDIT QUALITY AA-
FIXED INCOME 94.6% WEIGHTED AVG. MATURITY 7 yrs.
EQUITY* 0.0%
========
WEIGHTED AVG. DURATION 4.89 yrs.
100.0% WEIGHTED AVG. COUPON 8.056%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL COUNTRY DISTRIBUTION PERCENT OF TOTAL
NORTH AMERICA 38.5% NORTH AMERICA 2.2%
CANADIAN DOLLAR 2.2% CANADA 2.2%
US DOLLAR 36.3% EUROPE 60.5%
EUROPE 50.6% BELGIUM 5.0%
BRITISH POUND 2.8% BULGARIA 1.0%
DANISH KRONE 3.0% DENMARK 3.0%
EURO MON UNIT 38.8% FRANCE 7.5%
NORWEGIAN KRONE 0.9% GERMANY 10.8%
SWEDISH KRONA 5.1% ITALY 7.3%
ASIA 0.2% NETHERLANDS 4.4%
HONG KONG DOLLR 0.2% NORWAY 0.9%
AUSTRALIA/NEW ZEALAND 10.8% POLAND 1.8%
AUSTRALIAN DOLLAR 4.6% RUSSIA 5.1%
N ZEAL DOLLAR 6.2%
========
SPAIN 5.1%
TOTAL 100.0% SWEDEN 5.1%
UKRAINE 0.7%
UNITED KINGDOM 2.8%
ASIA 6.9%
HONG KONG 0.2%
PHILIPPINES 6.7%
AUSTRALIA/NEW ZEALAND 10.1%
AUSTRALIA 4.6%
NEW ZEALAND 5.5%
LATIN AMERICA 14.9%
ECUADOR 0.5%
MEXICO 7.7%
PANAMA 0.7%
PERU 0.8%
VENEZUELA 5.3%
TOTAL 94.6%

You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800-DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates of countries where the Fund invests. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. You may have a gain or loss when you sell your shares. The information provided is as of the date shown. The Fund's portfolio is actively managed and investment allocations can be expected to change.

* EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.