]> Press Releases--Dividends, FTF Declares First Monthly Dividend
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Franklin Templeton Limited Duration Income Trust Declares First Monthly Dividend

From: Franklin Templeton Investments
Contact: Matt Walsh
Telephone:(650) 312-2245

San Mateo, CA, October 9, 2003 – Franklin Templeton Limited Duration Income Trust [FTF], a closed-end investment company managed by Franklin Advisers, Inc., announced today a dividend of $0.0988 per share, payable November 3, 2003, to shareholders of record on October 20, 2003. 

At the Fund’s initial offering price of $15.00, this dividend rate represents an annualized yield of 7.90%.  Based on the Fund’s net asset value (NAV) of $14.54 at the close of the market on October 8, 2003, the Fund’s dividend represents an annualized yield at NAV of 8.15%. 

Franklin Templeton Limited Duration Income Trust’s primary investment objective is to seek high current income.  Its secondary objective is to seek capital appreciation to the extent it is possible and consistent with the Fund’s primary objective. 

Franklin Advisers, Inc. is a wholly owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], 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 over $301 billion in assets under management as of September 30, 2003.  For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.