]> Press Releases--Closed-End Funds, Templeton Emerging Markets Fund, Inc. Announces Dividend

Templeton Emerging Markets Fund, Inc. ("EMF") Announces Dividend

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

Fort Lauderdale, Florida, October 10, 2002. Templeton Emerging Markets Fund, Inc. (NYSE: EMF), today announced a year-end dividend from net investment income of $0.1499 per share, payable on November 8, 2002 to shareholders of record on October 25, 2002. (Ex-Dividend Date: October 23, 2002).

The Fund’s investment adviser, Templeton Asset Management Ltd., is an indirect, wholly owned subsidiary 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 $247 billion in assets under management as of September 30, 2002. For more information, please call 1-800/DIAL BEN® (1-800-342-5236).