]> Press Releases--Closed-End Funds, Availability of Performance Information

Franklin Templeton Investments Announces Availability of Closed-End Fund Performance Information

From: Franklin Resources, Inc.
Contact: Matt Walsh
Telephone:(650) 312-2245

San Mateo, CA, October 30, 2002—Franklin Templeton Investments announced today that performance results for all U.S.-based Franklin and Templeton closed-end funds are available to the public by calling 1-800/DIAL BEN® (1-800/342-5236). These results will also be included in the third quarter Franklin Templeton Investments Dealer Facts Guide.

Franklin Resources, Inc. [NYSE:BEN], is a global investment organization operating as Franklin Templeton Investments. Franklin Templeton 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 $247 billion in assets under management as of September 30, 2002. For more information, please call 1-800-DIAL BEN® or visit franklintempleton.com.