]> Press Releases--Closed-End Funds, Templeton Global Income Fund Dividend and Change in Investment Policy

Templeton Global Income Fund, Inc. ("GIM") Announces Dividend and Change to Non-Fundamental Investment Policy

From: Franklin Templeton Investments
Contact: Lisa Gallegos
Telephone:(650) 312-3395

Fort Lauderdale, Florida, December 31, 2003. Templeton Global Income Fund, Inc. (NYSE: GIM) today announced its regular monthly dividend from net investment income of $0.04 per share, payable on January 30, 2004 to shareholders of record on January 15, 2004 (Ex-Dividend Date: January 13, 2004).

Global Income Fund also announced that the Fund's Board of Directors approved the elimination of the Fund’s non-fundamental investment policy limiting the Fund’s investment in Russian securities to no more than 5% of the Fund’s total assets. The Board’s recent action allows the Fund’s investment manager to take advantage of additional investment opportunities in Russia, in excess of 5% of the Fund's total assets, when the investment manager believes it is advisable to do so. Global Income Fund's primary goal of high current income and its secondary goal of capital appreciation, as well as its other investment policies, restrictions and tax diversification requirements, remain the same. Under normal market conditions, Global Income Fund invests at least 80% of its net assets in income-producing securities, including debt securities of U.S. and foreign issuers, including emerging markets.

Global investing involves special risks, such as adverse economic, social and political developments in the countries where the Fund invests, as well as market and currency volatility. Emerging market securities involve heightened risks related to the same factors, in addition to those associated with the relatively small size and lesser liquidity of these markets. Investing in any emerging market means accepting a certain amount of volatility that can arise from such factors as high levels of inflation, deflation, or currency devaluation. Russian securities involve additional significant risks, including political and social uncertainty (for example, regional conflicts and risk of war), currency exchange rate volatility, pervasiveness of corruption and crime in the Russian economic system, delays in settling portfolio transactions and risk of loss arising out of Russia’s system of share registration and custody.

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 $322 billion in assets under management as of November 30, 2003. For more information, please call 1-800/DIAL BEN® (1-800-342-5236).