]> Press Releases--Closed-End Funds, Templeton Emerging Markets Income Fund Declares Dividend

Templeton Emerging Markets Income Fund, Inc. Announces Dividend

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

Fort Lauderdale, Florida, September 16, 2002 -- Templeton Emerging Markets Income Fund, Inc. (NYSE: TEI) today announced its regular quarterly dividend from net investment income of $0.31 per share, payable on October 15, 2002 to shareholders of record on September 30, 2002 (Ex-Dividend Date: September 26, 2002).

The Fund's investment manager is a 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 $259 billion in assets under management as of August 31, 2002. For more information, please call 1-800/DIAL BEN® (1-800-342-5236).