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

From: Franklin Resources, Inc.
Contact: Lisa Gallegos
Telephone:(650) 312-3995

Fort Lauderdale, Florida, December 24, 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 November 30, 2002:

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

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 (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 $261 billion in assets under management as of November 30, 2002. For more information, please call 1-800/DIAL BEN® (1-800-342-5236). 

TEMPLETON CHINA WORLD FUND, INC.
AS OF NOVEMBER 30, 2002
TOTAL ASSETS: $172,269,259
NET ASSET VALUE PER SHARE: $10.58

ASSET
ALLOCATION
PERCENT OF TOTAL TEN LARGEST POSITIONS PERCENT OF TOTAL
SHORT TERM & OTHER 7.6% DAIRY FARM INTERNATIONAL HOLDINGS LTD 11.4%
EQUITY* 92.4%
=========
CHINA PETROLEUM & CHEMICAL CORP 8.8%
100.0% COSCO PACIFIC LTD 5.4%
JIANGSU EXPRESSWAY COMPANY LTD 4.6%
ZHEJIANG EXPRESSWAY CO LTD 4.5%
CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD 4.4%
ANGANG NEW STEEL COMPANY LTD 3.8%
PETROCHINA CO LTD 3.7%
TSINGTAO BREWERY CO LTD 3.6%
CHINA MOBILE (HONG KONG) LTD 3.4%

========

53.6%
INTERNATIONAL ALLOCATION PERCENT OF TOTAL INDUSTRY ALLOCATION PERCENT OF TOTAL
ASIA 92.4% CONSUMER DISCRETIONARY 3.9%
CHINA 45.0% AUTOMOBILES & COMPONENTS 1.1%
HONG KONG 39.0% CONSUMER DURABLES & APPAREL 0.2%
TAIWAN 8.4% HOTELS RESTAURANTS & LEISURE 2.6%
TOTAL EQUITY 92.4% CONSUMER STAPLES 15.7%
FOOD & DRUG RETAILING 11.4%
FOOD BEVERAGE & TOBACCO 4.3%
ENERGY 13.4%
ENERGY 13.4%
FINANCIALS 7.9%
BANKS 2.9%
DIVERSIFIED FINANCIALS 0.1%
REAL ESTATE 4.9%
HEALTH CARE 1.3%
PHARMACEUTICALS & BIOTECHNOLOGY 1.3%
INDUSTRIALS 23.6%
CAPITAL GOODS 5.7%
TRANSPORTATION 17.8%
INFORMATION TECHNOLOGY 3.9%
TECHNOLOGY HARDWARE & EQUIPMENT 3.9%
MATERIALS 13.7%
MATERIALS 13.7%
TELECOMMUNICATION SERVICES 4.2%
TELECOMMUNICATION SERVICES 4.2%
UTILITIES 4.9%
UTILITIES 4.9%
TOTAL EQUITY* 92.4%

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 EMERGING MARKETS FUND, INC.
AS OF NOVEMBER 30, 2002
TOTAL ASSETS: $156,309,291
NET ASSET VALUE PER SHARE: $8.85

ASSET
ALLOCATION
PERCENT OF TOTAL TEN LARGEST POSITIONS PERCENT OF TOTAL
SHORT TERM & OTHER 2.5% ANGLO AMERICAN PLC 3.0%
EQUITY* 97.5%
=========
SABMILLER PLC 2.9%
100.0% AKBANK 2.7%
PT TELEKOMUNIKASI INDONESIA TBK 2.4%
KOREA ELECTRIC POWER CORP 2.1%
KIMBERLY-CLARK DE MEXICO SA DE CV 2.0%
HYUNDAI MOTOR COL LTD 1.8%
LUKOIL HOLDINGS 1.6%
POLSKI KONCERN NAFTOWY ORLEN SA 1.6%
SASOL LTD 1.6%

========

21.6%
INTERNATIONAL ALLOCATION PERCENT OF TOTAL INDUSTRY ALLOCATION PERCENT OF TOTAL
ASIA 55.9% CONSUMER DISCRETIONARY 6.7%
CHINA 4.0% AUTOMOBILES & COMPONENTS 2.2%
HONG KONG 7.9% CONSUMER DURABLES & APPAREL 1.2%
INDIA 2.8% HOTELS RESTAURANTS & LEISURE 2.0%
INDONESIA 4.0% RETAILING 1.4%
MALAYSIA 1.1% CONSUMER STAPLES 14.9%
PHILIPPINES 1.4% FOOD & DRUG RETAILING 0.3%
SINGAPORE 3.6% FOOD BEVERAGE & TOBACCO 12.2%
SOUTH KOREA 17.7% HOUSEHOLD & PERSONAL PRODUCTS 2.4%
TAIWAN 3.7% ENERGY 14.0%
THAILAND 3.3% ENERGY 14.0%
TURKEY 6.6% FINANCIALS 16.9%
EUROPE 12.3% BANKS 8.2%
AUSTRIA 2.7% DIVERSIFIED FINANCIALS 3.6%
CROATIA 0.9% INSURANCE 2.9%
CZECH REPUBLIC 0.2% REAL ESTATE 2.2%
GREECE 0.9% HEALTH CARE 1.9%
HUNGARY 2.8% PHARMACEUTICALS & BIOTECHNOLOGY 1.9%
POLAND 1.6% INDUSTRIALS 15.6%
PORTUGAL 0.1% CAPITAL GOODS 12.2%
RUSSIA 3.1% COMMERCIAL SERVICES & SUPPLIES 0.2%
LATIN AMERICA 11.1% TRANSPORTATION 3.2%
ARGENTINA 0.4% INFORMATION TECHNOLOGY 3.9%
BRAZIL 4.7% SOFTWARE & SERVICES 0.3%
MEXICO 5.7% TECHNOLOGY HARDWARE & EQUIPMENT 3.6%
PERU 0.2% MATERIALS 10.8%
MID-EAST/AFRICA 18.2% MATERIALS 10.8%
EGYPT 0.3% TELECOMMUNICATION SERVICES 8.5%
ISRAEL 0.3% TELECOMMUNICATION SERVICES 8.5%
SOUTH AFRICA 17.7% UTILITIES 4.4%
TOTAL EQUITY* 97.5% UTILITIES 4.4%
TOTAL EQUITY* 97.5%

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 NOVEMBER 30, 2002
TOTAL ASSETS: $540,245,072
NET ASSET VALUE PER SHARE: $11.50

ASSET
ALLOCATION
PERCENT OF TOTAL PORTFOLIO CHARACTERISTICS
CASH & OTHER 6.4% WEIGHTED AVG. CREDIT QUALITY BB-
FIXED INCOME 93.5% WEIGHTED AVG. MATURITY 14 yrs.
EQUITY* 0.1%
========
WEIGHTED AVG. DURATION 6.43 yrs.
100.0% WEIGHTED AVG. COUPON 10.026%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL COUNTRY DISTRIBUTION PERCENT OF TOTAL
NORTH AMERICA 99.9% EUROPE 36.9%
US DOLLAR 99.9% BULGARIA 5.4%
ASIA 0.1% NETHERLANDS 0.8%
INDO RUPIAH 0.1%
========
POLAND 0.9%
TOTAL 100.0% RUSSIA 24.9%
UKRAINE 4.9%
ASIA 13.8%
INDONESIA 1.3%
MALAYSIA 0.5%
PHILIPPINES 12.0%
LATIN AMERICA 41.1%
BRAZIL 5.2%
COLOMBIA 4.0%
JAMAICA 1.0%
MEXICO 19.5%
PANAMA 2.4%
VENEZUELA 9.0%
MID-EAST/AFRICA 1.7%
SOUTH AFRICA 1.7%
TOTAL 93.5%

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 NOVEMBER 30, 2002
TOTAL ASSETS: $965,344,098
NET ASSET VALUE PER SHARE: $7.45

ASSET
ALLOCATION
PERCENT OF TOTAL PORTFOLIO CHARACTERISTICS
CASH & OTHER 4.3% WEIGHTED AVG. CREDIT QUALITY A+
FIXED INCOME 95.7% WEIGHTED AVG. MATURITY 7 yrs.
EQUITY* 0.0%
========
WEIGHTED AVG. DURATION 4.63 yrs.
100.0% WEIGHTED AVG. COUPON 8.048%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL COUNTRY DISTRIBUTION PERCENT OF TOTAL
NORTH AMERICA 35.2% NORTH AMERICA 2.2%
CANADIAN DOLLAR 2.2% CANADA 2.2%
US DOLLAR 33.0% EUROPE 61.5%
EUROPE 53.8% BELGIUM 4.9%
BRITISH POUND 2.6% BULGARIA 1.0%
DANISH KRONE 3.1% DENMARK 3.1%
EURO MON UNIT 38.9% FRANCE 7.7%
NORWEGIAN KRONE 1.9% GERMANY 10.9%
SWEDISH KRONA 7.3% ITALY 7.2%
ASIA 0.2% NETHERLANDS 3.0%
HONG KONG DOLLR 0.2% NORWAY 1.9%
AUSTRALIA/NEW ZEALAND 10.8% POLAND 0.9%
AUSTRALIAN DOLLAR 4.5% RUSSIA 4.7%
N ZEAL DOLLAR 6.2%
========
SPAIN 5.0%
TOTAL 100.0% SWEDEN 7.3%
UKRAINE 1.0%
UNITED KINGDOM 2.6%
ASIA 6.7%
HONG KONG 0.2%
PHILIPPINES 6.5%
AUSTRALIA/NEW ZEALAND 10.7%
AUSTRALIA 4.5%
NEW ZEALAND 6.2%
LATIN AMERICA 14.6%
MEXICO 7.7%
PANAMA 0.7%
PERU 0.9%
VENEZUELA 5.2%
TOTAL 95.7%

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.