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

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

Fort Lauderdale, Florida, March 28, 2003.  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 February 28, 2003:

  • 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 $254 billion in assets under management as of February 28, 2003. For more information, please call 1-800/DIAL BEN® (1-800-342-5236).

TEMPLETON CHINA WORLD FUND, INC.
AS OF FEBRUARY 28, 2003
TOTAL ASSETS: $189,501,772
NET ASSET VALUE PER SHARE: $11.64

ASSET
ALLOCATION
PERCENT OF TOTAL TEN LARGEST POSITIONS PERCENT OF TOTAL
CASH & OTHER 17.3% DAIRY FARM INTERNATIONAL HOLDINGS LTD 12.9%
EQUITY* 82.7%
=========
CHINA PETROLEUM & CHEMICAL CORP 9.5%
100.0% COSCO PACIFIC LTD 4.3%
CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD 4.2%
PETROCHINA CO LTD 3.7%
JIANGSU EXPRESSWAY COMPANY LTD 3.3%
CHINA MERCHANTS HOLDINGS INTL CO LTD 3.3%
ZHEJIANG EXPRESSWAY CO LTD 3.1%
ANGANG NEW STEEL COMPANY LTD 2.9%
BEIJING DATANY POWER GENERATION CO LTD 2.9%

========

50.1%
INTERNATIONAL ALLOCATION PERCENT OF TOTAL INDUSTRY ALLOCATION PERCENT OF TOTAL
ASIA 82.7% CONSUMER DISCRETIONARY 4.2%
CHINA 40.3% AUTOMOBILES & COMPONENTS 1.4%
HONG KONG 34.7% CONSUMER DURABLES & APPAREL 0.1%
TAIWAN 7.7% HOTELS RESTAURANTS & LEISURE 2.7%
TOTAL EQUITY 82.7% CONSUMER STAPLES 16.1%
FOOD & DRUG RETAILING 12.9%
FOOD BEVERAGE & TOBACCO 3.2%
ENERGY 13.3%
ENERGY 13.3%
FINANCIALS 7.8%
BANKS 2.6%
REAL ESTATE 5.2%
HEALTH CARE 0.1%
PHARMACEUTICALS & BIOTECHNOLOGY 0.1%
INDUSTRIALS 18.7%
CAPITAL GOODS 5.3%
TRANSPORTATION 13.4%
INFORMATION TECHNOLOGY 3.8%
TECHNOLOGY HARDWARE & EQUIPMENT 3.8%
MATERIALS 11.0%
MATERIALS 11.0%
TELECOMMUNICATION SERVICES 3.2%
TELECOMMUNICATION SERVICES 3.2%
UTILITIES 4.5%
UTILITIES 4.5%
TOTAL EQUITY* 82.7%

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 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 FEBRUARY 28, 2003
TOTAL ASSETS: $150,453,163
NET ASSET VALUE PER SHARE: $8.52

ASSET
ALLOCATION
PERCENT OF TOTAL TEN LARGEST POSITIONS PERCENT OF TOTAL
SHORT TERM & OTHER 3.5% ANGLO AMERICAN PLC 3.2%
EQUITY* 96.5%
=========
SABMILLER PLC 2.7%
100.0% AKBANK 2.6%
PT TELEKOMUNIKASI INDONESIA TBK 2.2%
KIMBERLY-CLARK DE MEXICO SA DE CV 2.0%
KOREA ELECTRIC POWER CORP 2.0%
OMV AG 1.9%
HYUNDAI MOTOR CO LTD 1.8%
LUKOIL HOLDINGS 1.8%
REMGRO LTD 1.8%

========

22.0%
INTERNATIONAL ALLOCATION PERCENT OF TOTAL INDUSTRY ALLOCATION PERCENT OF TOTAL
ASIA 50.1% CONSUMER DISCRETIONARY 6.6%
CHINA 4.5% AUTOMOBILES & COMPONENTS 2.5%
HONG KONG 7.6% CONSUMER DURABLES & APPAREL 1.0%
INDIA 4.7% HOTELS RESTAURANTS & LEISURE 1.6%
INDONESIA 3.8% MEDIA 0.3%
MALAYSIA 0.4% RETAILING 1.2%
PHILIPPINES 1.4% CONSUMER STAPLES 14.8%
SINGAPORE 4.7% FOOD & DRUG RETAILING 0.7%
SOUTH KOREA 16.3% FOOD BEVERAGE & TOBACCO 11.6%
TAIWAN 3.8% HOUSEHOLD & PERSONAL PRODUCTS 2.5%
THAILAND 2.9% ENERGY 14.9%
AUSTRALIA/NEW ZEALAND 0.1% ENERGY 14.9%
AUSTRALIA 0.1% FINANCIALS 15.3%
EUROPE 18.8% BANKS 7.4%
AUSTRIA 3.2% DIVERSIFIED FINANCIALS 3.5%
CROATIA 0.8% INSURANCE 2.2%
CZECH REPUBLIC 0.4% REAL ESTATE 2.2%
GREECE 1.0% HEALTH CARE 2.3%
HUNGARY 2.6% PHARMACEUTICALS & BIOTECHNOLOGY 2.3%
LUXEMBOURG 0.7% INDUSTRIALS 16.3%
POLAND 1.7% CAPITAL GOODS 13.1%
PORTUGAL 0.1% COMMERCIAL SERVICES & SUPPLIES 0.2%
RUSSIA 2.4% TRANSPORTATION 3.0%
TURKEY 5.9% INFORMATION TECHNOLOGY 2.8%
LATIN AMERICA 12.5% TECHNOLOGY HARDWARE & EQUIPMENT 2.8%
ARGENTINA 0.6% MATERIALS 10.7%
BRAZIL 6.4% MATERIALS 10.7%
CHILE 0.4% TELECOMMUNICATION SERVICES 8.4%
MEXICO 5.1% TELECOMMUNICATION SERVICES 8.4%
MID-EAST/AFRICA 15.0% UTILITIES 4.2%
EGYPT 0.3% UTILITIES 4.2%
ISRAEL 0.3% TOTAL EQUITY* 96.5%
SOUTH AFRICA 14.4%
TOTAL EQUITY* 96.5%

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 FEBRUARY 28, 2003
TOTAL ASSETS: $560,706,360
NET ASSET VALUE PER SHARE: $11.89

ASSET
ALLOCATION
PERCENT OF TOTAL PORTFOLIO CHARACTERISTICS
CASH & OTHER 4.7% WEIGHTED AVG. CREDIT QUALITY BB-
FIXED INCOME 95.3% WEIGHTED AVG. MATURITY 13 yrs.
EQUITY* 0.0%
========
WEIGHTED AVG. DURATION 6.60 yrs.
100.0% WEIGHTED AVG. COUPON 9.319%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL COUNTRY DISTRIBUTION PERCENT OF TOTAL
NORTH AMERICA 99.4% EUROPE 35.3%
US DOLLAR 99.4% BULGARIA 4.8%
ASIA 0.1% HUNGARY 1.0%
INDO RUPIAH 0.1% NETHERLANDS 0.9%
EUROPE 0.5% POLAND 0.9%
HUNGARY FORINT 0.5%
========
RUSSIA 22.8%
TOTAL 100.0% UKRAINE 4.9%
ASIA 15.0%
INDONESIA 1.3%
MALAYSIA 4.5%
PHILIPPINES 4.7%
SOUTH KOREA 4.5%
LATIN AMERICA 37.5%
BRAZIL 3.2%
COLOMBIA 4.6%
DOMINICAN REPUBLIC 1.1%
MEXICO 14.7%
PANAMA 2.4%
PERU 2.4%
VENEZUELA 9.1%
MID-EAST/AFRICA 3.6%
SOUTH AFRICA 3.6%
NORTH AMERICA 3.9%
TOTAL 95.3%

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 FEBRUARY 28, 2003
TOTAL ASSETS: $1,036,871,273
NET ASSET VALUE PER SHARE: $8.01

ASSET
ALLOCATION
PERCENT OF TOTAL PORTFOLIO CHARACTERISTICS
CASH & OTHER 5.1% WEIGHTED AVG. CREDIT QUALITY AA-
FIXED INCOME 94.9% WEIGHTED AVG. MATURITY 7 yrs.
EQUITY* 0.0%
========
WEIGHTED AVG. DURATION 4.56 yrs.
100.0% WEIGHTED AVG. COUPON 7.464%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL COUNTRY DISTRIBUTION PERCENT OF TOTAL
AUSTRALIA/NEW ZEALAND 11.8% ASIA 5.1%
AUSTRALIAN DLR 4.9% PHILIPPINES 5.1%
N ZEAL DOLLAR 7.0% AUSTRALIA/NEW ZEALAND 11.8%
EUROPE 54.9% AUSTRALIA 4.9%
BRITISH POUND 2.5% NEW ZEALAND 6.9%
DANISH KRONE 3.3% EUROPE 64.1%
EURO MON UNIT 38.4% AUSTRIA 2.5%
HUNGARY FORINT 0.5% BELGIUM 3.5%
NORWEGIAN KRONE 2.9% BULGARIA 2.5%
SWEDISH KRONA 7.3% DENMARK 3.5%
NORTH AMERICA 33.2% FINLAND 2.7%
CANADIAN DOLLAR 2.2% FRANCE 4.4%
US DOLLAR 31.0%
========
GERMANY 10.9%
TOTAL 100.0% HUNGARY 0.5%
IRISH REPUBLIC 1.3%
ITALY 4.3%
NETHERLANDS 4.4%
NORWAY 2.9%
POLAND 0.8%
RUSSIA 4.5%
SPAIN 4.5%
SWEDEN 7.3%
UKRAINE 1.1%
UNITED KINGDOM 2.5%
LATIN AMERICA 11.5%
COLOMBIA 0.9%
MEXICO 4.8%
PANAMA 0.7%
PERU 0.9%
VENEZUELA 4.2%
MID-EAST/AFRICA 0.2%
SOUTH AFRICA 0.2%
NORTH AMERICA 2.2%
CANADA 2.2%
TOTAL 94.9%

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.