]> Press Release - Closed-End Funds - FTF dividend
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Franklin Templeton Limited Duration Income Trust Declares Monthly Dividend

From: Franklin Advisers, Inc.
Contact: Matt Walsh
Telephone:(650) 312-2245

San Mateo, CA, July 16, 2004 - Franklin Templeton Limited Duration Income Trust [AMEX:FTF], a closed-end investment company managed by Franklin Advisers, Inc., announced today a dividend of $0.0988 per share, payable August 13, 2004, to shareholders of record on July 30, 2004.

Based on the Fund's net asset value (NAV) of $14.54 at the close of the market on July 15, 2004, the Fund's dividend represents an annualized yield at NAV of 8.15%. At the Fund's market price of $13.52 at the close of the market on July 15, 2004, the Fund's dividend represents an annualized market yield of 8.77%.

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 Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust investment teams. The San Mateo, CA-based company has more than 50 years of investment experience and more than $350 billion in assets under management as of June 30, 2004. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.

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